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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

Stanley Cup Final: Blues make lineup change; Grzelcyk game-time decision

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It looks as if the St. Louis Blues and Boston Bruins will both be making some lineup changes for Game 7 of the Stanley Cup Final Wednesday night (8 p.m. ET, NBC; Live Stream).

Let’s start with the significant news on the Boston side where the Bruins might have all of their top defenders in the lineup for the first time since the beginning of the series. After missing the past four games, Matt Grzelcyk has been cleared for action and is officially listed as a game-time decision. If he plays, and it seems extremely likely that he will, he would replace Connor Clifton.

Grzelcyk has been sidelined since early in Game 2 when he was on the receiving end of an illegal check from Oskar Sundqvist, resulting in a one-game suspension for the Blues’ forward.

[NBC 2019 STANLEY CUP PLAYOFF HUB]

It remains to be seen how much of an impact he can make since he hasn’t taken any contact since the injury, but the Bruins have definitely missed his ability to move the puck.

“I think your adrenaline will carry you through,” said Bruins coach Bruce Cassidy on Wednesday.

“The one thing about Matt if he does go in after missing some games is he’s been skating with us. It’s not like he just jumped on the ice yesterday. He’s been participating, albeit non-contact, so there is a little bit of a different animal there. At this time of the year you’re not into a lot of contact in practice anyway so he’s just going to have to understand, because he did obviously live the first whatever it was, game and a half with St. Louis, he knows they are physical. He’s been there. He’s been watching. He knows he’s gotta get back in a hurry, make good decisions with it, take a hit to make a play if that’s what is required, which it usually is against this team. That’s the challenge in front of him. We’ve had discussions with him about it and he’ll be ready for it.”

Two of the three Bruins’ losses in this series came in games where they were forced to finish with five defenders due to injury with Grzelcyk exiting Game 2 and Zdeno Chara being forced to miss most of Game 4 after being hit in the face with a puck. While Chara has not missed any further game action, Grzelcyk’s absence has been significant.

“If he’s able to come back and help us tonight, he’s an incredible puck mover,” said Bruins defender Charlie McAvoy. “He’s just kind of had that fire in his eye for the playoffs. He’s been playing awesome for us, and we’ve missed him terribly since he’s been out. He just gives us that extra jolt when it comes to breaking out. He’s a gifted puck-mover. If he’s back to night, I think he’ll do his job and help us out even more.”

On the St. Louis side, forward Ivan Barbashev will be returning to the lineup after missing Game 6 due to a suspension for an illegal check to the head.

He will replace rookie forward Robert Thomas on the team’s fourth line next to Alex Steen and Sundqvist.

That is not the only change the Blues will be making.

Coach Craig Berube also said that Joel Edmundson will be drawing back into the lineup in place of Robert Bortuzzo.

Why the change? With Alex Pietrangelo and Colton Parayko playing so many minutes on the right side Berube wants to go with four left-handed defenders in his lineup.

“With Parayko and Pietrangelo on the right side, they’re just eating so many minutes up; there’s not a lot of minutes over there,” said Berube. “So, we decided to go with the four lefties, and what he can bring, he can bring a lot. I mean, he’s got some real good upside, shoots the puck well, big guy, big body, physical player, but he does do some things well in the offensive zone, so I like his shot.”

Edmundson played sparingly over the first four games of the series, recording zero points and finishing as a minus-3 in his limited minutes. Bortuzzo scored a goal for the Blues in Game 2 of the series in Boston and also scored a game-winning goal in the Western Conference Final series against the San Jose Sharks.

Edmundson will skate on the Blues’ third defense pairing alongside Vince Dunn.

“I played in I think three Game 7s now so this is going to be my fourth. None of them compare to this one,” said Edmundson. “Obviously it’s going to be the biggest game of my life. But everyone’s excited.”

Edmundson said his first reaction upon finding out that he would be in the lineup was to text his parents, who were already planning on attending the game. One member of his family not attending the game? His brother, Jesse, who has apparently been bad luck throughout the series.

“They were coming,” said Edmundson when talking about his parent’s plans. “My brother (Jesse) stayed back because he thinks he’s bad luck. He’s been bad luck throughout the series, so he stayed back, he’s taking one for the team.”

Whatever it takes.

More Blues-Bruins Game 7
• Blues vs. Bruins: Three keys for Game 7
• The Wraparound: It is all on line for Blues-Bruins 
• Which Blues, Bruins player will get Stanley Cup handoff?
• Conn Smythe watch
• Stanley Cup roundtable discussion

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.

Erik Johnson tossed after apparent elbow to the head

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A night with just fives games on the docket has produced two ejections on questionable hits.

The first — a Tom Wilson special — has already been well documented.

The second came during one of the night’s late games between the Colorado Avalanche and the St. Louis Blues.

Alex Steen leveled Nathan MacKinnon at the Avs blue line, grabbed the puck and took it in for a scoring chance. After he got the shot off, Erik Johnson came over and appeared to drive his elbow into Steen’s face.

Let’s roll the tape:

Steen’s hit was a clean, solid shot that separated MacKinnon from the puck.

Johnson’s certainly looked the exact opposite. He was penalized for elbowing on the play plus the game misconduct.

Steen, meanwhile, was forced out the game. The Blues announced he would miss the rest of the game with an upper-body injury,

The ensuing scrum spilled over after Johnson was heading to the box. Alex Pietrangelo came and got in Johnson’s face, prompting Gabriel Landeskog to shove Pietrangelo, which didn’t sit well for Joel Edmundson, who tried to get at Landeskog.

Johnson was handed a two-game suspension last December for shoving Vladislav Namestnikov into the boards after giving him a vicious two-handed slash.

The NHL’s Department of Player Safety was going to be busy on Saturday due to the Wilson situation. Now, they’ve got more work to do.


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

The Buzzer: Steen’s 4-point night powers Blues; Bob shines vs. Sabres

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Player of the Night: Alex Steen, St. Louis Blues

While taking care of the Calgary Flames, Steen had a hand in four of the five Blues goals in their 5-2 victory. He evened the score with his first of the season late in the opening period, assisted on power play goals from Jaden Schwartz and Alex Pietrangelo and then set up Paul Stastny’s tally.

Highlight of the Night:

— More like a lowlight. Jake Allen is going to want a second crack at this one.

MISC:

— Pietrangelo’s goal was a snipe:

— St. Louis has received 12 goals from their defense through 10 games.

— Thirteen Columbus Blue Jackets players recorded a point in their 5-1 win over the Buffalo Sabres.

— The Blue Jackets tallied three goals in a period for the fourth time this season.

Seth Griffith ruined Bobrovsky’s shutout bid late in the third with his first goal since Dec. 29, 2014.

Factoid of the Night:

Scores:

St. Louis 5, Calgary 2
Columbus 5, Buffalo 1

————

Sean Leahy is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @Sean_Leahy.

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Blues’ biggest question: Are they good enough down the middle?

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Jonathan Toews. Anze Kopitar. Jeff Carter. Patrice Bergeron. Sidney Crosby. Evgeni Malkin. Pavel Datsyuk. Henrik Zetterberg.

Teams that win the Stanley Cup almost always have an elite center. As you can see, some of them even have two.

Do the St. Louis Blues?

The answer to that will depend on your definition of elite. If it’s a generous one, then maybe Paul Stastny gets the nod. Otherwise, it’s hard to answer yes.

Next season, the Blues’ top two lines could look something like this:

Alex Steen – Paul Stastny — David Backes
Jaden Schwartz — Jori Lehtera — Vladimir Tarasenko

If one of Dmitrij Jaskin, Ty Rattie or Robby Fabbri can step into a top-six role, coach Ken Hitchcock has said that Backes could be moved to the third line.

Regardless of how the lines shake out, it’s no surprise that the Blues were left wanting more from Stastny, their big free-agency signing from last summer.

“Paul Stastny needs to be a bigger part of our group,” GM Doug Armstrong said. “We need him to be a bigger and better part of our team.”

Stastny had 46 points in 74 games last season. He then managed just one goal, with no assists, in the Blues’ six-game playoff loss to the Wild.

Not enough from a player who was supposed to be a difference-maker in the tough Western Conference.

“I think in every sport if you’re strong up the middle you’re usually a strong team,” Capitals coach Barry Trotz said, per Yahoo Sports. “The center icemen seem to be the catalyst, usually offensively. They’re the guys who have the puck the most and make maybe the most decisions on the ice based on the number of touches they have in a game.”

Which is why there’s so much excitement in Washington about young Evgeny Kuznetsov.

But we digress.

The Blues are obviously a strong team. Their regular-season record is proof of that. But they haven’t been able to win that elusive Cup, so it’s only natural to pore over their roster in search of why.

Their lack of a truly elite center — and this goes for good teams like the Wild, Predators, Canadiens, Rangers, and Jets — may be as good an answer as any.

Related: Doug Armstrong is under pressure