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

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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

Crosby, Ovechkin among NHL stars helping CCM donate 500,000 surgical masks

CCM plans to donate 500,000 surgical masks for COVID-19 healthcare workers
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Hockey equipment company CCM announced plans to donate 500,000 surgical masks to healthcare workers. CCM states that they hope to donate the surgical masks “as early as the week of April 27.” They also stated that Sidney Crosby, Alex Ovechkin, and other CCM endorsers helped make the donation possible.

“By teaming up with our roster of CCM athletes, we will be able to play a role in the collaborative effort to get past this crisis,” CCM Hockey CEO Rick Blackshaw said in a statement. “We focused on the best use of our network and our resources to have the quickest impact. Sourcing greatly needed equipment through our established supply chain partners in Asia is the most efficient way for us to support and keep our real heroes safe.”

CCM revealed the list of hockey players involved in the initiative: Mathew Barzal, Patrice Bergeron, Brock Boeser, Dani Cameranesi, Brandon Carlo, Thomas Chabot, Kendall Coyne Schofield, Sidney Crosby, Melodie Daoust, Alex DeBrincat, Brianna Decker, Matt Duchene, Matt Dumba, Marc-Andre Fleury, Filip Forsberg, Jake Gardiner, Miro Heiskanen, Filip Hronek, Jonathan Huberdeau, Seth Jones, Nathan MacKinnon, Charlie McAvoy, Connor McDavid, Alex Ovechkin, Artemi Panarin, Carey Price, Vladimir Tarasenko, and John Tavares.

CCM’s plan to donate surgical masks adds to list of contributions from hockey world

This continues atrend of hockey teams, players, and companies contributing in different ways to help people during the coronavirus crisis.

Bauer recently announced its own initiatives (with help from Jack Eichel) involving manufacturing face shields. Bauer even provided instructions on how to make the shields on their website. Mary-Kay Messier explained Bauer’s plans during a recent episode of the Our Line Starts podcast.

Earlier this month, Islanders players helped to donate more than 3,000 N-95 masks to assist local causes.

NHL teams have also taken measures to pay employees during the coronavirus pause, among other meaningful efforts.

None of this erases the sacrifices healthcare workers are making. And this still figures to be a lengthy, difficult process. But it’s fantastic to see many in the hockey world rise to the occasion, CCM included.

James O’Brien is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @cyclelikesedins.

What is the Wild’s long-term outlook?

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With the 2019-20 NHL season on hold we are going to review where each NHL team stands at this moment until the season resumes. Here we take a look at the long-term outlook for the Minnesota Wild.

Pending Free Agents

The Core

The Wild are kind of drifting toward that middle ground where they are not a true contender and they are not exactly awful, either. They have good players, but they also have some pretty significant flaws.

One of the biggest might be the fact they have a lot money tied up in players that are on the wrong side of 30. Mikko Koivu is a free agent after this season, and no one really knows what his future is at this point, but Zach Parise, Mats Zuccarello, Eric Staal, Ryan Suter, Jared Spurgeon, and Devan Dubnyk are some of their biggest contracts beyond this season and Spurgeon is the only one younger than 32 years old. It is not a stretch to believe that every single one of those players has already played their best hockey. Parise was also the subject of trade rumors on deadline day with the New York Islanders, something that could be revisited later.

Beyond that, the Wild do have some intriguing younger players making up a second-wave of talent.

Kevin Fiala has been an outstanding pickup and is having an outstanding year, while Luke Kunin, Jordan Greenway, and Joel Eriksson Ek are other younger players the Wild are hoping can become bigger contributors.

The most intriguing young player in the organization, though, has yet to even play a game in North America. That player is Kirili Kaprizov, the 22-year-old winger that has dominated the KHL for the past few seasons. He was a fifth-round pick by the team a few years ago and his arrival in Minnesota has been anticipated for some time now.

Long-Term Needs

Really what the Wild need is a difference-maker. A game-changing forward that can be the focal point of the offense and carry it. A franchise cornerstone to build around both in the short-and long-term.

They do not really have that player right now, and the ones that most closely resemble that player on the roster right now are older and on the downside of their careers. They are also not really well positioned to get one without a lot of luck going their way in the draft lottery. It is a tough spot to be in.

Their biggest hope for that sort of presence might be with the aforementioned Kaprizov. For as intriguing and exciting as his potential is, it is still just exactly that — potential. Even if he does eventually become that top-line standout player, it may not happen as soon as he arrives next season. There could be some growing pains and an adjustment period along the way.

Long-Term Strengths

When they are all healthy their defense has some intriguing players and can be really good with Suter, Spurgeon, Mathew Dumba, and Jonas Brodin are all signed through the end of next seaon, with the former three names all being signed to long-term deals. When it comes to scoring chances against and expected goals against the Wild have been one of the league’s top teams this season. The only thing that has held them back from being an elite defensive team has been inconsistency in net.

The addition of Cale Addison in the Jason Zucker trade also adds another intriguing blue-liner to the long-term outlook.

If Fiala can duplicate his 2019-20 performance he could also turn into a pretty big strength. He has been one of the league’s most productive 5-on-5 players on a per-minute basis this season and is still signed for another year at a very manageable salary cap hit.

The presence of him, Kaprizov, a still productive Zuccarello and hopefully improvements from players like Kunin, Greenway, and Eriksson Ek could give the Wild a formidable group of forwards.

More:
Looking at the 2019-20 Minnesota Wild
Minnesota Wild surprises and disappointments so far

Adam Gretz is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @AGretz.

NBCSN’s Hockey Happy Hour: Kunitz puts Penguins in Cup Final

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NBC Sports’ Hockey Happy Hour continues this week with matchups featuring unsung heroes.

Chris Kunitz opened the scoring in the second period of Game 7, his first goal in over three months. After regulation, tied at two goals apiece, Kunitz recorded his third point, and second goal of the game, in double overtime to send the Penguins to the Stanley Cup Finals for the second straight year.

Kenny Albert, Eddie Olczyk, and Pierre McGuire called the matchup from PPG Paints Arena in Pittsburgh, Pa.

Wednesday, April 8
• Senators vs. Penguins (2017 Eastern Conf. Final, Game 7, Chris Kunitz) – 5 p.m. ET
• NHL: Pause and Rewind – 6 p.m. ET

Thursday, April 9
• NHL: Pause and Rewind (Encore) – 5 p.m. ET
• Rangers vs. Kings (2014 Stanley Cup Final, Game 5, Alec Martinez) – 6 p.m. ET

#HOCKEYATHOME: EPISODE 1 – NHL BROTHERS – TUESDAY, 6:30 P.M. ET ON NBCSN
Kathryn Tappen and Sportsnet host David Amber will co-host a 30-minute program about brothers in the NHL. The three sets of brothers interviewed and featured in the program are Eric, Jordan, and Marc Staal; Brady and Matthew Tkachuk; and Quinn and Jack Hughes.

NHL: PAUSE AND REWIND – WEDNESDAY, 6 P.M. ET ON NBCSN
The premiere of a one-hour special, NHL: Pause and Rewind, will take a look back at this past NHL season as well as how players are spending their time off in the current league hiatus. Highlighted segments will include a look at the current top five teams in each conference, reflecting on the season’s milestones, including Alex Ovechkin’s historic 700 goal accomplishment, as well as revisiting the Blues’ improbable Stanley Cup victory last season.

NBC Sports commentators conducting player interviews and sharing #HockeyAtHome social content will also be featured throughout the program.

Programming will also stream on NBCSports.com and the NBC Sports app.

More information about NBC Sports’ Hockey Happy Hour can be found here.

Alexis Lafrenière tops list of NHL draft-eligible prospects

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Alexis Lafrenière, as expected, maintained the top spot in the NHL Central Scouting Bureau’s final ranking of draft-eligible prospects released Wednesday.

What remains uncertain for the 18-year-old Rimouski Oceanic forward and hundreds of fellow prospects is learning when and by whom they will be selected.

Forward Quinton Byfield and defenseman Jamie Drysdale, both from the Toronto area, were ranked second and third among North American prospects. Forward Tim Stuetzle, the German professional league’s rookie of the year, was ranked as the top European prospect.

At 6-foot-1 and 200 pounds,

the NHL scouting bureau’s list of draft-eligible prospects.

When play ended, he was leading the Quebec Major Junior League with 112 points (35 goals, 77 assists) in 52 games. He was the league’s rookie of the year in 2017-18, when he scored 42 goals – the most by a rookie since Sidney Crosby scored 54 in 2003-04.

Lafrenière would have the opportunity to become first Quebec-born player selected with the first pick since goalie Marc-Andre Fleury by Pittsburgh in 2003.

The NHL draft, scheduled to take place in Montreal in late June, has been postponed. So has the draft lottery to determine the top seedings and weeklong pre-draft combine in Buffalo, New York. The draft can’t feasibly be held until the playoffs are completed or the entire season canceled.

That places the likelihood of the NHL holding the draft in September or as late as October.

And there is uncertainty over whether draft will go on as normal, with teams and fans gathering in an arena or instead closing the event to the public. That happened in the summer of 2005 when teams held the draft in a ballroom after the previous season was wiped out because of a lockout.

The postponements hit home for Lafrenière, who is from suburban Montreal and was looking forward to hearing his name announced at the Canadiens’ Bell Centre in June.

He took the news in stride last month,by saying: “For sure if the draft is online, it’s going to be different for us. But we’re still going to enjoy our time and still be happy there.”

Overall, Lafrenière has 114 goals and 183 assists for 297 points in 173 games. In January, he captained Canada’s gold-medal-winning team and earned MVP honors at the world junior championships.

In the past, the draft order among the 15 non-playoff teams was determined by lottery balls, with the team with the worst record receiving the best odds to win the top pick.

Though the season is incomplete, the Detroit Red Wings had already assured themselves of finishing 31st with a 17-49-5 record and 39 points, 23 behind Ottawa. Only six points separate Ottawa and Buffalo, which sits 25th.