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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

Paul Bissonnette to get chance to back up lacrosse boast

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VANCOUVER, British Columbia (AP) — Paul Bissonnette will have a chance to back up his lacrosse boast.

Two days after tweeting that he could make a National Lacrosse League team without having ever played a game, the former NHL player signed a professional tryout Friday with the Vancouver Warriors.

”Bissonnette will be given every opportunity to make the Vancouver Warriors,” Warriors coach Chris Gill said. ”Paul talks a pretty big game. Let’s see if he can back it up and be a part of our team.”

The 34-year-old Bissonnette, now the radio color commentator for the Arizona Coyotes, played 202 NHL games with Pittsburgh and Arizona. He had seven goals, 15 assists and 340 penalty minutes in his six NHL seasons.

He’s gained notoriety more for his outspoken and often humorous tweets commenting on hockey and others sports.

Bissonnette will join the Warriors for their final week of training camp at Rogers Arena on Nov. 22 and 23.

The Buzzer: Bruins end slump; Blackwood baffles Penguins

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Three Stars

1. Mackenzie Blackwood, New Jersey Devils

If the Devils are going to dig themselves out of the big hole they made to start 2019-20, it’s highly likely that Blackwood will be the goalie who helps them do it.

Lately, the 22-year-old has been rotating nice wins (.968 save percentage or higher in three victories) with tough losses (.889 or lower in three defeats). Friday represented one of the nicest wins yet, as he stopped 38 out of 39 of the Penguins’ shots to help the Devils steal a 2-1 decision.

Natural Stat Trick places the Penguins’ expected goals at 3.55, and their high-danger chances at 14 at all strengths, so Blackwood was the clear difference-maker in that narrow triumph.

2. Tomas Tatar, Montreal Canadiens

The Habs got revenge on the scoreboard after Alex Ovechkin landed that devastating hit on Jonathan Drouin, and Tatar was a big catalyst for that rally.

Yes, his goal was an empty-netter, but Tatar already had a top-three-worthy night when he piled up three assists. If you’d prefer his linemate Phillip Danault (1G, 2A, nothing on that ENG), that’s fine, too. Being boiling up some righteous indignation, the plus side of Drouin getting shaken up might be that Claude Julien went back to Tatar, Danault, and Brendan Gallagher as a line ever so briefly. Via Natural Stat Trick, they generated two five-on-five goals for in just 42 seconds of TOI together. Piping-hot take: maybe keep them with each other a little bit longer?

Overall, Tatar was an absurd possession beast on Friday, generating a ridiculous 80% Fenwick Four. By any measure, he was spectacular, and there’s a compelling case for Tatar being placed above Blackwood as the top star of the night.

3. Brad Marchand, Boston Bruins

Attempting to defense the Bruins’ top line must be agonizing, as Marchand, Patrice Bergeron, and David Pastrnak just bring so many strengths to the table. It might be especially frustrating to try to contain Marchand, though.

Not only will he trash talk you (and back it up), but he’s also very smart and elusive, finding openings even when there’s just a bit of space to work with. Marchand played a big role in Boston ending its winning streak, and also extending Toronto’s torment, by scoring two goals, including the game-winner.

But, yeah, that troll game is also there.

Highlight of the Night

Zach Werenski had been off to a bit of a slow start scoring-wise for the Columbus Blue Jackets this season, but the 22-year-old is gaining some serious steam lately. Werenski scored the overtime game-winner for Columbus on Friday, extending his goal streak to three games (three goals, one assist).

(Some might vote for the Ovechkin hit as the clip of the night, though.)

Factoids

  • Via NHL PR: Zdeno Chara became the fourth defenseman in NHL history aged 42 or older to generate a three-game point streak. Chris Chelios has done it twice, and holds the best run with a four-game tear. The other two (Doug Harvey, Tim Horton) make it quite the list.
  • Another aging defenseman stat from NHL PR: Shea Weber became the third active NHL defenseman to generate at least a five-game point streak at age 34 or older. Chara did it in 2011-12, while Mark Giordano has two streaks of seven games. Weber also scored his 209th goal, placing him 18th all-time among NHL defensemen, via Sportsnet.
  • Saucy one from Sportsnet: the Maple Leafs and Oilers have the same point percentage (.531) in 64 games since Jan. 1, and Edmonton actually has one more win (30 to 29).

Scores

BOS 4 – TOR 2
NJD 2 – PIT 1
MTL 5 – WSH 2
CBJ 3 – STL 2 (OT)
OTT 2 – PHI 1

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.

Alex Ovechkin lights up Habs’ Drouin with huge hit

via NBC Sports Washington
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Alex Ovechkin is known for scoring goals (my personal favorite, which was nearly replicated by a Penguins prospect), but the Washington Capitals superstar is so fun to watch because he’s also perfectly willing to throw his body around for a big check. It’s one of those things that made you believe that maybe he’d wear down, yet that Russian Machine Never Breaks.

Montreal Canadiens forward Jonathan Drouin received a painful reminder that you need to keep your head on a swivel when Ovechkin’s on the ice, as the Capitals winger leveled Drouin with a huge hit on Friday.

It wouldn’t be surprising if Drouin was shaken up almost as much by the second impact:

Drouin left immediately for the locker room, but he’s taken some shifts afterward, so he might be OK … we’ll have to see.

There’s at least some debate about the legality of the hit, for what it’s worth:

Sometimes big hits like that light a fire under teams. Maybe Ovechkin was hoping it would do so for Washington, but instead Montreal might channeled that anger into getting even on the scoreboard, as they rattled off a 4-0 lead in response, and ended up winning 5-2.

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.

Pittsburgh prospect’s incredible Ovechkin-like goal (Video)

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Earlier this week James O’Brien continued our “My Favorite Goal” series with a look back at Alex Ovechkin’s signature goal from his rookie season when he scored that seemingly impossible, sliding goal in Arizona.

On Thursday, Pittsburgh Penguins prospect Samuel Poulin did his best to try and recreate the finishing portion of that goal in a QMJHL game when he scored on an absolutely bonkers play late in his team’s 6-1 win.

Have a look.

As if the finish wasn’t enough, how about the move in the slot to get around the defender?

Poulin, a forward for the Sherbrooke Phoenix, scored the goal late in the third period of their win over the Cape Breton Eagles. It was Poulin’s 16th goal of the season.

The Penguins selected him in the first round (No. 21 overall) of the 2019 NHL draft as part of a promising draft class that also included Nathan Legare. Those two have been a much-needed boost to a farm system that has been depleted a bit due to trades in recent years to keep the current Stanley Cup window open.

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.