For potential buy out candidates:
Best option: Traded
2nd best option: Traded with salary retention
3rd best option: Kept and buried if the extra cap space isn't needed
If none of those are possible or work, then the buy out becomes necessary.
Personally I hope none of the listed players are on the Flames roster next year except Engelland (I won't cry if he's traded too though), but I'm hoping options #1, #2 are possible for all of them.
Not likely though, and I'm hoping the Flames need the cap space because BT is busy adding the pieces we need to become a playoff team again next season. That takes option #3 away too then. If that's the case then they will need to buy somebody out.
Also, IMO Engelland is NOT a buy out candidate. I think he could be traded quite easily but I know some here might not feel the same so I included him.
I also feel that Wideman is tradeable, but with his tough season including the season ending injury combined with a full NMC, I can see how many might feel buying him out could be the only option.
If you think any other Flames should be bought out besides the ones I've listed then IMO you need to have your head examined, because you may have suffered a concussion recently.
If bought out this summer: (June 15, 2016)
(#'s according to CapFriendly)
Raymond:
2016/17 cap hit: $1,050,000
2017/18 cap hit: $1,050,000
Smid:
2016/17 cap hit: $833,333
2017/18 cap hit: $1,333,333
Stajan:
2016/17 cap hit: $958,333
2017/18 cap hit: $1,958,333
2018/19 cap hit: $833,333
2019/20 cap hit: $833,333
Wideman:
2016/17 cap hit: $1,250,000
2017/18 cap hit: $2,000,000
Engelland:
2016/17 cap hit: $1,083,334
2017/18 cap hit: $916,667