Now that the Stanley Cup Final has wrapped up we are less than two days away from the start of the NHL’s buyout window where teams can attempt to get away from some of their less desirable and otherwise unmovable contracts. For a price.
Which teams might be willing to exercise that option?
Let’s take a look at some candidates.
The Buyout Proof contract
Milan Lucic, Edmonton Oilers: Okay, this is one that probably will not happen but it is still worth looking at because it is the exact type of situation that usually ends in a buyout — a big-time free agent signing that just does not work out because the team made a poor evaluation and signed an aging player to a contract that was destined to fail. So why won’t this situation end with a buyout? Because along with making a costly investment, the Oilers also gave Lucic what is, for all intents and purposes, a buyout proof contract in how much of the money is tied up in signing bonuses.
According to CapFriendly, if the Oilers were to buyout the remainder of Lucic’s deal they would have to pay out the remainder of his salary over the next 10 years with minimal salary cap savings over the next five years. I suppose they could do that if they really wanted to, but it doesn’t seem likely. Instead, they might sweeten the pot in a trade and give up a potentially useful asset to rid themselves of the contract an option that … does not really seem much better, now does it? Let’s just chalk this move up to another swing and a miss by the Oilers as they continue to waste Connor McDavid.
Costly, but might be worth it
Matt Hunwick, Pittsburgh Penguins. This is another contract that just did not work out. Hunwick signed a three-year, $6.75 million contract before last season and it became pretty obvious in the very beginning that it was going to come with some regret. The Penguins could save more than $1 million against the cap over the next two years if they buyout Hunwick this summer, and for a team that is consistently pressed against the salary cap and is in a clear win-now mode that could be significant.
Troy Brouwer, Calgary Flames. Brouwer is two years into a four-year, $18 million contract with the Calgary Flames and to this point has produced 19 goals in 150 games and still has a modified no-trade clause over the next two years. The odds of him improving at this point are slim. The odds of finding a trade partner willing to take on that contract seem slimmer. A buyout saves the Flames $3 million against the cap over the next two seasons and then they would have to carry $1.5 million in dead cap money in the two years after that. Not cheap, but certainly an option that should be explored because this is a team that should have the talent on its roster to compete right now. An extra $3 million in cap space this upcoming season and the one after that would be a huge asset.
Matt Moulson, Buffalo Sabres. Moulson is entering the final year of a five-year, $25 million contract and it is clear that his days as a top-six scorer in the NHL are finished. He played only 14 games for the Sabres this past season and recorded zero points while averaging less than one shot on goal per game. The rest of the year he was in the American Hockey League. Buying out the final year of his contract would save the Sabres just a little more than $1.5 million this season and cost them around $667,000 in empty cap space next season. Considering how low his trade value has to be at this point it might be worth it.
Definitely worth it
Jori Lehtera, Philadelphia Flyers. The key to the Brayden Schenn-for-Lehtera swap was always going to be the draft picks involved. Good thing, too, because Lehtera did not really offer the Flyers much this past season. He is entering his age 31 season and has scored only 10 goals in his past 126 games. A buyout would save the Flyers more than $3.3 million against the salary cap this season. They would be stuck with a $1.6 million hit the following year, and that might be tough to swallow, but this is a playoff team that could make a significant addition with some extra cap space.
Tyler Ennis, Minnesota Wild. After back-to-back 20-goal campaigns in Buffalo a few years back Ennis’ career has pretty much cratered. He is coming off of a miserable year with the Wild that saw him manage just eight goals and 14 assists in 73 games while once again being a blackhole in terms of possession metrics. The Wild would save $2.4 million against the salary cap this upcoming season by buying out the final year of his contract. The Wild are once again pressed against the salary cap and have to re-sign restricted free agents Jason Zucker and Matt Dumba this summer.
Maybe give him one more year?
Jason Spezza, Dallas Stars. Spezza is an interesting one because he is coming off one of the worst seasons of his career offensively and a buyout would save the Stars $5 million(!) against the salary cap this upcoming season. You can do a lot with an extra $5 million.
The problem is they would get hit with $2.5 million in empty space the year after.
What makes it a tough call is that even though Spezza had a terrible year and is going to be 35 years old when the season starts he is just one year removed from being a 50-point player (in only 68 games) and had really strong underlying possession numbers, indicating that he might still have something to offer, especially under a new coach and in a different system.
(Salary and buyout information via CapFriendly)