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?