View single post by CanadianHorseman
 Posted: Fri Jun 28th, 2013 10:40 pm
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CanadianHorseman



Joined: Fri Nov 2nd, 2007
Location: Vancouver, British Columbia Canada
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Some Compliance Buyout news:




- The Tampa Bay Lightning are parting ways with their longest-serving player, as the club will buy out the rest of Vincent Lecavalier's 11-year, $85 million contract.

A compliance buyout of the the deal - paying out a total of $32.67 million - rids the Lightning of a $7.727 million salary cap hit through the 2019-20 season.




- The New York Rangers have decided against using their final compliance buyout on forward Brad Richards this season.

The 33-year-old has seven years and $36 million left on his deal that has an annual cap hit of $6.667 million.




- The Montreal Canadiens have informed defenceman Tomas Kaberle that he will be the team's second and final compliance buyout.

The veteran defenceman has one-year and $4.5 million left on his current contract, which carries a $4.25 million cap hit.

The Rakovnik, Czech Republic native played in only 10 games with the Canadiens in 2012/13 and contributed three assists.

Kaberle signed a three-year, $12.75 million deal with the Hurricanes in 2011 after capturing the Stanley Cup as a mid-season pickup with the Boston Bruins.




- The Philadelphia Flyers announced on Thursday that they are buying out the final two years of Daniel Briere's contract.

The move will shave $6.5 million off the Flyers' salary cap. Philadelphia had one of the NHL's most expensive payrolls last season, and has been forced into a position to shed salary in order to get under next season's cap, which will drop from $70.2 million to $64.3 million.

Under NHL rules, teams have the option of two amnesty buyouts to terminate contracts before the start of the 2014-15 season.

The Flyers will now have to pay Briere 75 percent of his remaining money owed - $3.75 million – from his original eight-year, $52 million contract that he signed in free agency on July 1, 2007.




- Calling the decision to sign Ilya Bryzgalov two years ago a "costly mistake," the Philadelphia Flyers will buy out the remainder of the goalie's hefty contract.

The move made Tuesday saves the team nearly $6 million under the salary cap for each of the next seven years. Bryzgalov was two seasons into a $51 million, nine-year contract he signed in 2011. The Flyers will have to pay him two-thirds of the balance owed on his remaining term, or $23 million.

Last week, the Flyers exercised the first of their two compliance buyouts on forward Danny Briere.

Bryzgalov was 52-33-10 with a 2.61 goals-against average and a .905 save percentage in the regular season for Philadelphia, which failed to make the playoffs this year.



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