2nd Round of Buyouts - does anyone get bought out?
Per Elliotte Friedman's twitter, teams that had arb case scheduled, there is a 2nd buyout window. Window is 3 days after final case was settled, teams have 48 hours to buyout a player on their roster.
Elliotte Friedman @FriedgeHNIC 8h
Applies to any team with a potential case. No one actually went to arb, but it doesn't eliminate the potential buyout window @slim94
Elliotte Friedman @FriedgeHNIC 8h
settled, they have 48 hours for buyouts, should they choose to do so.
Elliotte Friedman @FriedgeHNIC 8h
Reminder that there is a second buyout period for teams that had potential arbitrations. Three days after each club's final case was...(1/2)
Could see Toronto using theirs on Liles given that they used all their compliance buyouts. Maybe Detroit uses theirs to open space for Nyquist? And does Bobby Lou get bought out in Vancouver at 2/3 instead of a full compliance buyout?
Last edited by The Original FFIV; 07-30-2013 at 09:06 PM.
I don't believe there is a limit, I know this buyout window has been around for a while, but I don't recall anyone actually using it before
True but with the cap/contract bind some teams find themselves in, it would make sense for them to use it. Toronto has Kadri and Franson unsigned, they are more integral than Liles moving forward. NYR has to make room for Stepan, could jettison Powe and Asham to fit him under. And Detroit has been trying to dump bad contracts all summer with no luck.
The only teams who can take advantage of this are the teams who had players file for arbitration: Detroit, Edmonton, Los Angeles, Montreal, Nashville, Islanders, Rangers, Ottawa, Pittsburgh, St. Louis, Toronto, Vancouver, and Winnipeg.
It's unlikely that any team will make use of this window.
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Sorry for my daftness regarding regular buyouts. But is the full cap hit of the contract effecting the cap in a buyout? Because that would be useless if it did. Why pay a guy to go away while his money still counts against the cap?
If it is only a percentage, then yeah I could definitely see T.O drops Liles and re-sign Franson and Kadri. Not sure what the situation is with Stepan and the Rangers.
John-Michael Liles is 32 years old on the buyout date of July 31, 2013, setting the buyout ratio at 2/3 and the total buyout cost at $7,500,000 spread over 6 years. His contract was originally valued at $15,500,000 beginning in 2012 and ending in 2016, with $11,250,000 remaining from the buyout year forward. The following is a season-by-season breakdown of the buyout. A negative buyout cap hit indicates a credit.
Sorry for my daftness regarding regular buyouts. But is the full cap hit of the contract effecting the cap in a buyout? Because that would be useless if it did. Why pay a guy to go away while his money still counts against the cap?
If it is only a percentage, then yeah I could definitely see T.O drops Liles and re-sign Franson and Kadri. Not sure what the situation is with Stepan and the Rangers.
I'm sure someone will come along with the details shortly, but if you buy out a player, the total money is reduced (something like 2/3 of the remaining contract IIRC), and it's spread out over something like double the remaining length of the contract, so the cap hit lastsonger but it greatly reduced.
So if you owe a guy $3m for 2 years and buy him out, you pay him maybe $4m total instead of $6m, and his cap hit would be something like $1m per year ($4m over double he contract length, which is 4 years).
I'm probably wrong in some of the details, but that's basically how it works.
You pay less money, and the cap hit is reduced (but lasts longer).
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Sorry for my daftness regarding regular buyouts. But is the full cap hit of the contract effecting the cap in a buyout? Because that would be useless if it did. Why pay a guy to go away while his money still counts against the cap?
If it is only a percentage, then yeah I could definitely see T.O drops Liles and re-sign Franson and Kadri. Not sure what the situation is with Stepan and the Rangers.
2/3 buyout over twice the length of the remaining contract.
to simplify say Cammalleri was being bought out. He has 6 million and 1 years remaining. Meaning 2/3 ($4 million) would be spread out over 2 years.
it gets tricky for multi-year deals because each individual year is bought out at 2/3 over 2 years.
So to use Cammalleri as an example againm hypothetically if he had a 2nd year remaining @ 3 million the buyout on the 2nd year would be $2 million over 2 years so in total it would be;
2nd Round of Buyouts - does anyone get bought out?
