Significant buyouts appear to be mere formalities after Mike Richards (Los Angeles Kings), P.A. Parenteau (Montreal Canadiens) and Mark Fistric (Anaheim Ducks) cleared unconditional waivers on Monday. That word comes from a variety of sources, including TSN’s Bob McKenzie.
Using CapFriendly’s buyout calculator, here’s how each buyout is expected to impact their respective teams:
Richards for the Kings: $1.22 million cap hit for each season through 2024-25; his two-thirds buyout will total $14.667 million.
Parenteau for the Canadiens: The total buyout cost is $2.667 million, with a cap hit of $1.33 million for 2015-16 and 2016-17.
The Canadiens already made the Parenteau buyout official. Here is GM Marc Bergevin’s statement:
“I would like to thank Pierre-Alexandre for his time as a Montreal Canadien and wish him the best with his career,” Bergevin said. “It was a difficult decision to make, but we feel it gives us more flexibility as we continue to improve our club and provide our young prospects with an opportunity to earn a spot on our roster.”
Here is Parenteau’s statement:
Fistric for the Ducks: Total buyout cost: $1.8 million; cap hit of $516K for 2015-16, $217K for 2016-17, 450K for 2017-18 and 2018-19.
Note: cap hits are rounded up when appropriate.
Once we digest what this means for the three teams, the obvious follow-up question is quite enticing: what kind of interest will Richards, Parenteau and Fistric drum up on the free agent market?
Predators forward Rich Clune cleared unconditional waivers on Sunday and will likely be bought out by Nashville.
Clune has one year remaining on his two-year, $1.7 million deal with a cap hit of $850,000.
According to Capfriendly.com, the buyout will cost the Preds $283,333 in each of the next two seasons.
“I’m very grateful for my years playing for the Nashville Predators,” Clune said via Twitter. I want to thank David Poile and the rest of the staff for everything. Most important my teammates and the fans mean the world to me. Thank you.
“Nothing changes, I plan on playing in the NHL next season and will continue my rigorous training regimen out in Los Angeles this off season.”
Clune spent most of the 2014-15 season with the AHL’s Milwaukee Admirals scoring six goals and 17 points to go along with 181 penalty minutes.
Parenteau, Fistric land on unconditional waivers
In addition to Mike Richards, Ducks’ defenseman Mark Fistric and Habs’ forward P.A. Parenteau have also been placed on unconditional waivers for the purpose of a buyout.
Fistric’s buyout will cost the Ducks $1.8 million over the next four years while Parenteau will cost the Habs $1.3 million each of the next two seasons.
The L.A. Kings have placed Mike Richards on unconditional waivers for the purpose of a buyout, according to James Mirtle of The Globe and Mail.
According to Capfriendly.com, the buyout will cost the Kings $14.7 million over 10 years. He will count against the Kings’ cap through the 2024-25 season. Richards’ largest cap hit will come during the 2018-19 and 2019-20 seasons when he will account for $4.2 million against the cap in each season.
Richards’ decline in play saw him land on waivers during the 2014-15 season. After clearing he spent 16 games with the Manchester Monarchs of the American Hockey League scoring three goals and 11 assists.
The 30-year-old had five goals and 11 assists in 53 NHL games during the 2014-15 season to go along with a minus-10 rating.
Richards has five years remaining on his 12-year, $69 million contract.