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

Oilers keep on rolling with win over Flyers

2 Comments

Talent has never been the question in Edmonton, it was always a matter of systems and execution.

Todd McLellan and Ken Hitchcock each saw glimpses in recent years, but Dave Tippett might have unlocked the secret formula for the Oilers to have long-lasting success.

With six wins in the team’s first seven games, including a 6-3 victory against the Philadelphia Flyers on Wednesday Night Hockey, Edmonton is starting to believe that it has what it takes to become a serious contender in the Western Conference.

Jakub Voracek had two goals and an assist for Philadelphia while Carter Hart was pulled after allowing four goals on 14 shots in his first start near his hometown Sherwood Park, Alberta, as the Flyers concluded a three-game road trip through Western Canada where they went 0-2-1. Oskar Lindblom also scored.

Connor McDavid led the way offensively with five points (one goal and four assists), while Leon Draisaitl added two goals of his own as the Oilers bounced back after their first loss of the season against the Chicago Blackhawks earlier this week. Mikko Koskinen stopped 49 shots and picked up his third victory of the season.

The Oilers recorded four consecutive goals, including three in the second that broke the game wide open. McDavid or Draisaitl’s ability to break a game open has rarely been an issue, but slowing down the opposition has been problematic. But through seven games this season, the team has allowed only 17 goals thanks to improved goaltending and more importantly, better team defense.

Last season the Oilers allowed 271 goals, good for seventh worst throughout the NHL. It’s the sole reason Tippett was brought in, to limit the damage in their own end of the ice, and allow their superstars to flourish offensively without ignoring their defensive responsibility.

Tippett has opted to play McDavid and Draisaitl together for most of the season, which has always been a delicate situation. Should a coach load up to form a powerful top line, or spread the wealth throughout the lineup so a high-end player is on the ice for the majority of the game?

The Avalanche have had great success keeping Nathan MacKinnon and Mikko Rantanen on the ice as a pairing almost exclusively and the Oilers have been trending in that direction.

Ryan Nugent-Hopkins and James Neal provide options in the middle of the lineup but neither have the top-end talent equivalent to McDavid and Draisaitl.

However, if the Oilers are able to have a prolific first line, combined with strong structure throughout the neutral zone and in front of their goaltender, they will quickly become an elite team that could be a force to be reckoned with.

MORE: Your 2019-20 NHL on NBC TV Schedule

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

McKenzie on Penguins injuries, Avs contracts … spider bites?

Leave a comment

When Alex Galchenyuk was traded to the Pittsburgh Penguins, he likely breathed deep as he readied for a new coach, team, city, and system for the second straight season. Maybe there’s some fear about looking like a pale imitation of Phil Kessel, the other major part of that trade.

But did he factor in arachnophobia?

During a Wednesday appearance on NBCSN during the Penguins’ eventual 3-2 overtime win against the Colorado Avalanche, Bob McKenzie reported that Galchenyuk has been dealing with what could be a groin injury (or otherwise a soft tissue issue), which many surmised. What people didn’t realize is that Galchenyuk took a detour on his road to recovery because of a spider bite.

McKenzie reports that Galchenyuk had a significant allergic reaction to the bite, which seems a lot less fun than being able to climb on walls, swing on webs, and sense danger before it’s coming. (Theory: Brad Marchand may have “spider sense.” Although we’d probably need to brand it differently. “Pest-pathy?”)

Anyway, McKenzie reports that Galchenyuk is back on that road to recovery, although his precise window of recovery is unclear.

Via McKenzie, Galchenyuk, Nick Bjugstad, and Bryan Rust are essentially week-to-week still, as their windows seem to be two or three weeks. McKenzie reports that Evgeni Malkin‘s injury remains fuzzier.

Speaking of fuzziness, it sounds like the Colorado Avalanche are keeping things opaque when it comes to players on expiring contracts. So, we might need to wait-and-see with Andre Burakovsky and Nikita Zadorov.

That’s … understandable, especially with Burakovsky, who’s still making early impressions. Colorado might be wise to pick and choose with this stuff in the future, though. Could the Avalanche have signed Mikko Rantanen for less than a $9.25M AAV if they were more proactive? We can only speculate …

But hey, at least no one got bit by a spider.

*shudders*

MORE:
• Pro Hockey Talk’s Stanley Cup picks.
• Your 2019-20 NHL on NBC TV schedule

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.

Penguins remain hot with win vs. Avalanche

1 Comment

Brandon Tanev notched a shorthanded goal in overtime to lead the Pittsburgh Penguins to a 3-2 victory over the Colorado Avalanche.

Sidney Crosby and Jake Guentzel also scored as Pittsburgh recorded its fourth straight victory. Matt Murray added 26 saves.

Matt Calvert and Nathan MacKinnon found the back of the net for the Avalanche but their six-game point streak to open the season came to an end.

Crosby continues to dazzle

The Penguins captain has clearly moved on from a disappointing playoff run last year, which ended in a first-round sweep at the hands of the Islanders. Instead, Crosby is off to a tremendous start, recording points in each of Pittsburgh’s seven games and leading the club on the ice to a 5-2-0 record.

Crosby netted a highlight-reel backhander to tie the game late in the first period and then assisted on a Jake Guentzel tally in the second.

The superstar center craftily tipped the puck around Erik Johnson, played the puck with his glove, and then somehow had the wherewithal to outlast goaltender Philipp Grubauer until an opening appeared for him to slide a backhander into the net.

Early in the second period, Crosby intercepted a pass at the blueline, then set up Guentzel to help the Penguins grab a 2-1 lead.

While several notable players remain sidelined, Crosby will be expected to lead the Penguins on the ice, and continue to improve the players around him. Pittsburgh will need Crosby to play at the top of his game until reinforcements return over the next few weeks.

Avalanche upcoming free agents

After the Mikko Rantanen contract issue this past summer, the Avalanche have several pending RFA’s for next summer.

Colorado is expected to be a legit Stanley Cup Contender with a great mix of dynamic playmakers, infusion of youth and seasoned veterans capable of leading the way during turbulent stretches.

However, Bob McKenzie offered that general manager Joe Sakic wants to see how the first part of the season plays out before engaging in contract talks.

Andre Burakovsky, Tyson Jost and Nikita Zadorov headline the pending RFA class and all presumably have a role to fill moving forward.

Is Lafferty here to stay?

The Penguins have been bitten by the injury bug early and have been forced to rely on their organizational depth to stay afloat during a challenging stretch.

During their Stanley Cup-winning years, the Penguins have always been able to call up a role player to fill a specific need. Is Sam Lafferty the next player to seamlessly fit in?

Lafferty was close to making the team out of training camp according to Bob McKenzie, but fell victim to the numbers game of a roster. However, injuries to five impact forwards — Evgeni Malkin, Nick Bjugstad, Alex Galchenyuk, Bryan Rust and Jared McCann — created a roster spot for him to slide in.

“We always felt like Sam was close coming into this training camp this year. But I think he has a whole lot more confidence in himself that he belongs here,” Penguins coach Mike Sullivan told the Pittsburgh Post-Gazette. “And that’s great for him, and that’s great for us.”

The 24-year-old originally from Hollidaysburg, Pennsylvania, about two hours outside of Pittsburgh, Lafferty has taken advantage of the opportunity recording five points over the previous three games.

“He’s earned his playing time. He’s just playing terrific hockey,” Sullivan said. “He made a difference every game he’s been in. As a result, he’s getting more ice time. He’s a very good penalty-killer. I think he really understands his role and is taking pride in it. You can see it every shift. He’s gaining more confidence.”

The Penguins have done an excellent job in sliding players into appropriate roles, and Lafferty is just the latest example. Does the kid have what it takes to stick around for a full season and continue to make a difference? We will find out as the season goes on.

MORE: Your 2019-20 NHL on NBC TV Schedule

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

Blue Jackets’ Milano scores ridiculous between-the-legs goal vs. Stars

Leave a comment

Sidney Crosby scored a wonderful highlight reel goal despite hard-working defense, yet he has some competition for Wednesday’s best one-man effort.

Sonny Milano hasn’t always been able to justify being selected 16th overall in 2014 by the Columbus Blue Jackets, but there have been flashes of brilliance when he’s avoided landed in John Tortorella’s doghouse. The 23-year-old authored his best NHL effort so far against the Dallas Stars on Wednesday, beating Esa Lindell, Roope Hintz, and Ben Bishop, making a great move and then finishing his chance with the sort of between-the-legs move you’d see in a shootout.

You’re just not supposed to be able to that at full speed in NHL action, particularly against quality players and Bishop, who finished second in Vezina voting in 2018-19.

That goal ended up standing as the game-winner as Columbus beat Dallas 3-2 on Wednesday, too.

So, which goal do you prefer: Milano’s (above this post’s headline) or Crosby’s from the Penguins’ eventual 3-2 OT win against the Colorado Avalanche?

MORE:
• Pro Hockey Talk’s Stanley Cup picks.
• Your 2019-20 NHL on NBC TV schedule

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.