Getty Images

Buyout Frenzy: Five candidates to have contracts nixed from the books

7 Comments

Ah, the buyout.

A team’s “out” to a bad contract, often one that said team signed and one they regretted at some point after the ink hit the signature spot on the contract sheet.

It’s an out with a catch. You can shed cap space, but only some. While mistakes can be forgiven, they’re not forgotten for some time. The length varies from case to case. It’s like getting a divorce but still living with your ex-spouse. You’re free, but not really. It’s not ideal.

The fact is, some relationships end up in that spot, and in hockey, when a usually-high-paid player becomes unwanted — a surplus to requirements — or he’s a square peg that can’t be fit into the round holes of a team’s salary cap, it’s one way to trim off some fat.

The buyout window opens today and will remain open until June 30.

First, a short primer courtesy of the fine folks at CapFriendly, who are doing God’s work:

Teams are permitted to buyout a players contract to obtain a reduced salary cap hit over a period of twice the remaining length of the contract. The buyout amount is a function of the players age at the time of the buyout, and are as follows:

  1. One-third of the remaining contract value, if the player is younger than 26 at the time of the buyout
  2. Two-thirds of the remaining contract value, if the player is 26 or older at the time of the buyout

The team still takes a cap hit, and the cap hit by year is calculated as follows:

  1. Multiply the remaining salary (excluding signing bonuses) by the buyout amount (as determined by age) to obtain the total buyout cost
  2. Spread the total buyout cost evenly over twice the remaining contract years
  3. Determine the savings by subtracting the annual buyout cost from Step 2. by the players salary (excluding signing bonuses)
  4. Determine the remaining cap hit by subtracting the savings from Step 3. by the players Annual Average Salary (AAV) (including signing bonuses)

With that out of the way, let’s look at five candidates (in no particular order) who may be bought out over the next two weeks.

(Photo by Christian Petersen/Getty Images)

Dion Phaneuf, Los Angeles Kings

The once powerful Kings have been reduced to kingdom more befitting of Jurassic Park. They have their share of stars from yesteryear on that team, and a couple making premium coin for regular, unleaded performance.

Phaneuf is a shade of the player he used to be. It’s understandable, given he’s 34 and on the back nine of his career. He’s got two years remaining on a deal that the Kings will be on the hook for $12 million.

Trading Phaneuf isn’t likely. He had six points in 67 games last year and the Kings, who were dreadful, healthy-scratched Phaneuf down the stretch.

Using CapFriendly’s handy-dandy buyout calculator, we see Phaneuf’s buyout would save the Kings just over $2.8 million, including a ~$4 million savings next year and a more modest $1.583 the following year.

Phaneuf’s cap hit over four years would be a total of $8.375 million, with the Ottawa Senators retaining 25 percent or $2.791 million per the transaction the two teams made in 2018.

(Photo by Ethan Miller/Getty Images)

Scott Darling, Carolina Hurricanes 

A lesson in a team throwing way to much money at a backup goaltender with decent numbers.

Darling has fallen out of favor in Carolina after signing a four-year, $16.6 million deal during the 2017 offseason.

Darling’s play was a disaster in the first year of the deal and Petr Mrazek and Curtis McElhinney took over around December of this past season.

Darling was placed on waivers and was unsurprisingly not claimed and seems a shoe-in for an immediate buyout. The Hurricanes will save $2.366 million, taking a total cap hit of just under $6 million over the next four years.

Those savings can go to toward trying to re-up both Mrazek and McEhlinney, a duo that helped the Hurricanes to the Eastern Conference Final.

(Photo by Hannah Foslien/Getty Images)

Dmitry Kulikov, Winnipeg Jets

The Jets bet on Kulikov’s lingering back injuries being behind the Russian defenseman when they signed him two years ago in the offseason. The bet was wrong.

Kulikov’s back has a durability rating that would be frowned upon by Consumer Reports.

But his back isn’t the biggest issue Winnipeg has. General manager Kevin Cheveldayoff has a money issue. You see, he needs to spend a lot this offseason on guys named Patrik Laine and Kyle Connor, and he has more than one contract he’d like to dispose of. But while a guy like Mathieu Perreault would find suitors in the trade market, Kulikov won’t.

So while Kulikov has one year left on a deal that hits the cap for $4.333 million, a buyout would save Cheveldayoff close to $3 million in desperately needed cap space for the coming season.

Drafting well in the first round has caught up with the Jets.

(Photo by Christian Petersen/Getty Images)

Corey Perry, Anaheim Ducks

Like Phaneuf not far down the I-5, Perry has seen his production nose-dive at 34 years old. There’s a lot of mileage on Perry’s skates, and regular oil changes aren’t cutting it anymore.

Perry has two years left on a deal that hits their bottom line for $8.625 million over the next two seasons.

The Ducks would have $6 million this year alone by buying out Perry, who is essentially trade proof with a full no-movement clause.

Perry’s cap hit would jump up to 6.625 mill the following year with a signing bonus of $3 million still owed, but then would only hurt for $2 million over the two added buyout years. In the end, the Ducks would save $4 million and open up a roster spot for a younger player.

(Photo by Patrick Smith/Getty Images)

Alex Steen, St. Louis Blues

I know what you’re thinking: “Hey, this guy just hoisted the Stanley Cup and played a hell of a role on the fourth line to help the Blues to their first title in franchise history.”

Indeed, Steen did all of those things. But interim coach Craig Berube put Steen on the fourth line, a role he relished in but one that can be replaced for much, much cheaper.

Steen, 35, has seen his production plummet over the past several seasons — far away from the realm of money he’s making with a $5.75 million cap hit. That’s too much for a fourth line player.

The Blues have some signings to make themselves, including a big-money extension for rookie sensation Jordan Binnington and other pieces to the puzzle such as Patrick Maroon.

Buying out Steen would come with a cap savings of $3 million, including a $6 million savings over the next two seasons. The Blues have $18 million and change to play with and a host of RFAs that need to get paid.

Other candidates

The above five came in no particular order. This list could extend for a while.

Some other notable names that could see their contracts bought out are:


Scott Billeck is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @scottbilleck

PHT Morning Skate: Bolts need Vasilevskiy; Isles should be buyers

Leave a comment
Welcome to the PHT Morning Skate, a collection of links from around the hockey world. Have a link you want to submit? Email us at phtblog@nbcsports.com.

• The Flyers are rallying behind Oskar Lindblom after his Ewing’s sarcoma diagnosis. (NBC Sports Philadelphia)

• The Bolts need Andrei Vasilevskiy to play like he’s one of the best in the world again. (Tampa Times)

• Coaches have been getting fired for reasons both known and unknown. (Los Angeles Times)

• The Blackhawks keep finding ways to hit new lows this season. (NBC Sports Chicago)

• Jim Benning was looking to trade Sven Baertschi, but he was forced to put him on waivers. (Vancouver Sun)

• A London Knights physiotherapist helped save Tucker Tynan’s life. (CTV News)

Tom Wilson has become a new-age power forward. (Sportsnet)

• Four players from the Professional Women’s Hockey Players Association will play in the ECHL All-Star classic. (The Ice Garden)

• If good teams don’t go on long losing streaks, what does that mean for the Edmonton Oilers? (Edmonton Journal)

• Referee Tim Peel is likely done for the season after suffering a broken leg. (RMNB)

• Islanders GM Lou Lamorielllo should dip into the rental market this season. (GothamSN)

• Alexis Lafreniere is hoping to become the next future first overall pick to turn in an incredible performance at the World Juniors. (Featurd)

• It’s still too early to say that Jack Eichel is among the greatest players. (Rotoworld)

• It’s time for the Anaheim Ducks to rebuild. (Spector’s Hockey)

• Former Lightning head coach Steve Ludzik needs a liver transplant. (Tampa Times)

Joey Alfieri is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @joeyalfieri.

The Buzzer: Kane’s hat trick; Staal’s milestone night

Patrick Kane #88 of the Chicago Blackhawks celebrates with Jonathan Toews
Getty Images
1 Comment

Three Stars

1) Patrick Kane, Chicago Blackhawks

Kane surpassed Sidney Crosby for the scoring lead this decade with 16 days left in the 2010s. Since Jan. 1, 2010, Kane has 791 points (311G, 480A), while Crosby has 788 points (296G, 492A). No. 88 recorded his sixth NHL hat trick in Chicago’s 5-3 victory over Minnesota. The Blackhawks have a long way to go if they want to have a realistic shot at the Stanley Cup Playoffs, but a victory against a surging division rival is a good place to start.

2) Mark Scheifele, Winnipeg Jets

On a football Sunday, the Jets scored a touchdown in their 7-3 victory over the Philadelphia Flyers. Scheifele played a huge part with his three-point performance featuring a goal and two assists as he extended his individual point streak to six games. Neal Pionk added three assists, including two power-play helpers. The top four teams in the Western Conference (Blues, Avalanche, Jets, Stars) currently reside in the Central Division and playoff positioning will be crucial as each team eyes a lengthy postseason run.

3) Eric Staal, Minnesota Wild

Staal became the 89th player in NHL history to have 1,000 career points when he tallied a power-play goal against Chicago Sunday. After a dreadful 4-9 start to the season, the Wild have climbed up the standings with a 12-4-5 record in their past 21 games. The alternate captain leads Minnesota with 26 points, including four goals in the previous three games.

Other notable performances from Sunday:

  • Anze Kopitar’s two-goal performance in the Kings’ 4-2 victory against the Red Wings helped him surpass the iconic Wayne Gretzky for fourth place on the franchise’s all-time scoring list. Kopitar picked up his 918th and 919th point in his 1038th game.
  • Blake Wheeler finished with three points, including a goal and an assist during a four-goal barrage spanning 4:17.

Highlights of the Night

Staal etched his name in the NHL record books with this one-time blast

William Karlsson won an important foot race before Reilly Smith slid a cross-ice pass over to Jonathan Marchessault

Factoids

  • A total of 33 goals were scored across four contests Sunday for an average of 8.25 per game [NHL PR].
  • The Jets scored four goals in a span of five minutes or less for the fourth time in franchise history [NHL PR].
  • The Jets’ four goals in a span of 4:17 are their second-fastest scored in a game in franchise history, behind the mark of 3:50 set on Nov. 18, 2017 [NHL PR].
  • Canucks’ Bo Horvat has won an NHL-high 414 faceoffs this season [Sportsnet Stats].

NHL Scores

Winnipeg Jets 7, Philadelphia Flyers 3

Chicago Blackhawks 5, Minnesota Wild 3

Los Angeles Kings 4, Detroit Red Wings 2

Vegas Golden Knights 6, Vancouver Canucks 3

Sabres demote under-performing center Mittelstadt to minors

Leave a comment

BUFFALO, N.Y. — The Buffalo Sabres have assigned under-performing second-year center Casey Mittelstadt to the minors.

The demotion to Rochester of the AHL was made Sunday, coming a day following a 3-2 overtime loss at the New York Islanders in which Mittelstadt was a healthy scratch for the third time in four games.

The 21-year-old has four goals and five assists in 31 games this season, and limited to just a goal and an assist in his past 21. Buffalo selected the play-making center with the eighth pick in the 2017 draft following his senior year in high school.

He then signed with Buffalo and jumped directly to the NHL in making his Sabres debut immediately following his freshman college season at Minnesota.

Mittelstadt has failed to play up to early projections of developing into Buffalo’s second-line center. He has 17 goals and 22 assists for 39 points in 114 career NHL games.

Players hope U.S.-Canada rivalry game helps spawn pro league

1 Comment

HARTFORD, Conn. — The United States women’s hockey team beat Canada 4-1 on Saturday night, with players hoping the first in a series of five games between the international rivals will help kindle the public’s interest in both their sport and their fight off the ice for better professional opportunities.

Canada’s Victoria Bach and the Megan Keller of the U.S. traded power-play goals in the first period, before Amanda Kessel put the U.S. on top for good with a player advantage in the second. Abbe Roque’s backhand in the period gave the US a 3-1 lead and Alex Carpenter beat Genevieve Lacasse for the final goal 1:15 seconds later.

More than 7,000 fans showed up for the international competition, which comes after more than 200 members of what has since become the Professional Women’s Hockey Players’ Association announced in May they would not play professionally in North America during the 2019-2020 season.

“I think it’s important for people to watch us play and see the level of talent and entertainment that’s out there,” Kessel said. “It’s getting that understanding that we need to help get us a place to play year-round so that people can see us more than five times a year.”

The women are seeking a professional league that provides a living wage, health insurance, infrastructure and support for training. The Canadian Women’s Hockey League shut down in the spring after 12 years of operation, leaving only the five-team National Women’s Hockey League, where most players make less than $10,000 a season.

“The product is there,” Kessel said. “The people to watch it are there. We just need a structure set in place.”

Sarah Nurse, a forward for Team Canada, whose cousin Kia Nurse plays for New York in the WNBA, said players are hoping to get support from the NHL, which has, so far, expressed little interest in investing in a women’s league.

“We can look at (the WNBA) and see that women’s sports have value and they have a place in this world,” said Nurse, who made $2,000 last season playing in the CWHL. “That is definitely a model that we look to.”

The rivalry series was created after the Four Nations Cup in Sweden was canceled when top Swedish players pulled out of national team events due to concerns over their salary and working conditions.

Without a viable pro league, players who are out of college have been training on their own at random rinks across North America in between gatherings of the national teams or training sessions and exhibitions sponsored by the players association.

Canada won two of those over the US in Pittsburgh last month.

But the lack of consistent competition can stunt the players’ development, especially when it comes to be being prepared for world and Olympic competitions, the players said.

“It’s very unfortunate,” Nurse said. “Games are when we truly get better and test out our skills, so it’s unfortunate that we don’t have more games to play.”

Cayla Barnes, who plays defense for the U.S. team and Boston College, said she and the other college players on the national teams understand what is going on and appreciate what the older players are doing.

“They are putting so much on the line for the younger generations,” she said. “Not just for us college kids who are coming up, but for U-8, U-10 girls who are coming up so they have opportunities later on. So I think all of us who are younger are trying to support them in whatever way we can.”

Hundreds of girls wearing their youth hockey jerseys attended the game, chanting “U-S-A” as the final seconds ticked off the clock.

“I want to be like them, like in the Olympics when I get older,” said 14-year-old Leila Espirito Santo, of Glastonbury “I started playing when I was in fourth grade and I wasn’t the best, but watching them play made me want to be better. It showed me I could do it.”

The teams will meet again on Tuesday in Moncton, New Brunswick. Other games part of the 2019-20 Rivalry Series are slated for Feb. 3 and Feb. 5 in Vancouver, British Columbia, and Feb. 8 in Anaheim, California.