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NHL Rumors I: Compliance Buyout Candidates and Notes on the Predators

  • James Mirtle of the Globe and Mail: The Blackhawks, Canadiens, Flyers and Maple Leafs have used both of their compliance buyouts. Ten teams have used one of their buyouts. Slam dunk buyouts include Ville Leino and Brad Richards. Martin Havlat, Jordin Tootoo and Ryan Malone are likely to be bought out. Other buyout candidates could be David Booth (VAN), Erik Cole (DAL) and Anton Volchenkov (NJ). The $3.7 billion projected revenues would put the salary cap at about $69.5 million. That number doesn’t include money the NHL will get from the Canadian television deal, though it’s possible the NHL and NHLPA could negotiate to get it included.

    “If a significant one-time increase or decrease to league-wide revenues is anticipated in the next league year,” the NHL’s collective bargaining agreement reads, “the parties will endeavor to estimate the expected increase or decrease and incorporate that estimate into” the cap calculation.

    The cap numbers need to be set by the end of June.

  • Josh Cooper of Tennessean: It’s unlikely that the Predators would move up in the draft, but they could trade for another first round pick by using their two second round picks.

    “I’ve been approached more by the fact we have two second-round picks and moving for a first-round pick for two seconds, or trading outright a second-round pick,” Poile said. “None of that’s going to happen until the draft and when we’re on the draft floor.”

    The Predators have a feeling one of the three players they are targeting at No. 11 will be there, so there would be no need to trade up.

    GM David Poile on their pending restricted free agents: Ryan Ellis, Mattias Ekholm, Michael Del Zotto and Nick Spaling:

    “I don’t think there’s any real time frame with any of them,” Poile said. “I think you can make a case that it’s always better to get things done sooner than later, but we’ve been pretty busy preparing for the draft.”

    On trade talk at last weeks GM meetings.

    “There was a lot of planting of seeds, if you will, to clarify where you are with certain players,” he said. “As always, the next round of business will be at the draft.”

15 Comments

  1. Alex

    June 16, 2014 at 9:10 am

    Being a wings fan I do not see the huge need to buyout Tootoo. Am I missing something, he has a small cap hit and only one year left. Are they using it just because they don’t want it to go to waste? And I wish they would use it on Franzen.

  2. hankbemis

    June 16, 2014 at 9:19 am

    If you could trade franzen for anything, wouldn’t you rather do that than buy him out? You wouldn’t get much, but it’s certainly better than a buy out.

  3. Eileen

    June 16, 2014 at 9:45 am

    Alex,
    While I agree that there’s no pressing need for the Wings to buy out Jordin Tootoo, Franzen would have to clear waivers as part of the buyout process.

    Franzen makes just less than $4M/annual, and the contract is not front-loaded, meaning that he gets the same salary every year for the remaining 6 seasons on his contract, which means that a buyout of 2/3 of the remaining value ($16M) could be spread out over 12 years. ($1.3M/yr) Because the contract is not front-loaded, buying him out wouldn’t save that much in overall cap space.

    The larger issue than that is that Franzen won’t clear unconditional waivers – a necessary first step in the buyout process. Why would the Wings waive a player who has apparent trade value, getting nothing in return, especially when they don’t need cap space this year?

  4. Alex

    June 16, 2014 at 10:55 am

    A compliance buyout does not make him clear waivers and it completely lifts his cap from the team per the new CBA. The wings used their first one on Coliacavo(sp?).

  5. ChrisB

    June 16, 2014 at 11:29 am

    Considering Tootoo will more than likely be buried in GR again, I think its more to open up a roster spot there, than to save the $975k in dead cap space keeping him there.

    While Franzen’s contract is much longer than I’d like, his cap hit isn’t horrendous, its still affordable, even if he gets bumped down to the 3rd line(which I can see happening sooner than later) His overall play is declining, but it hasn’t dropped off the face of the earth. He can’t create offense, he never could, he needs creative players around him, which Detroit has. As long as he’s not relegated to strictly a shutdown role, he should still put up respectable numbers, as long as he stays relatively healthy.

    The only real concern IMO, is any potential recapture penalty.

  6. Alex

    June 16, 2014 at 11:42 am

    Franzen will be a wasted roster spot in 3 years, he cannot stay healthy at all. But yes his cap hit isn’t terrible. It just boggles my mind, use a normal buyout on Tootoo its so cheap who cares.

  7. Eileen

    June 16, 2014 at 1:16 pm

    Alex,
    From CapGeek:
    http://www.capgeek.com/faq/how-do-buyouts-work

    “In order for a team to execute a buyout, the player must first clear unconditional waivers. A waiver claim by another team pre-empts the buyout process. Players with no-move clauses can reject the option of waivers and proceed immediately to a buyout.”

    Any player whose contract is being bought out MUST clear waivers.

  8. Eileen

    June 16, 2014 at 1:36 pm

    Alex,
    FWIW, I haven’t heard anything official or unofficial from the Red Wings that suggests they will use their 2nd compliance buyout on Tootoo or anyone else, for that matter. It seems like they’d prefer to use him in GR or potentially package him in a trade with his existing contract to give him a better shot at playing elsewhere.

    With Tootoo being buried, only $50K of his salary counts against Detroit’s cap, and I’m sure the Wings are fine with that. I think James Mirtle et al. out of Toronto like to speculate about this stuff, but I don’t think their conclusions are based on what’s actually going on 230 miles to the southwest of his position. Look at all the hot air from Pittsburgh two weeks ago about Babs being unhappy in Detroit and going elsewhere after his contract expires next year. (Grade A rubbish!)

    This year, capwise, Detroit doesn’t really need to unload salary, so they probably won’t even use their second compliance buyout.

  9. Mark Easson

    June 16, 2014 at 1:40 pm

    The Red Wings will be hit with cap overages for next year (close to $3 million I think), so saving Tootoo’s $975K cap hit could be valuable and worth the buyout.

  10. Mark Easson

    June 16, 2014 at 1:46 pm

    Bob McKenzie: Wings will have more than $3 million in bonus overages.

  11. Alex

    June 16, 2014 at 3:02 pm

    Tootoo holds no trade value considering he made it through waivers and nobody took him. I did forget about the overages, but those should be no big deal for the Wings seeing as they will have roughly $10-$12mil after resigning the young guys.

  12. Eileen

    June 16, 2014 at 3:59 pm

    Alex is right. The Wings are sitting at about $50M with only three RFAs – Tatar, Sheahan and DeKeyser. Ken Holland isn’t known for giving out super-lavish contracts, so even with the bonuses for Alfie, Sheahan, Tatar and DK, they still have money open to sign a replacement for Quincey, and give Gustafsson a short contract if he wants it.

    Alex, Eaves cleared waivers too, but he ended up as part of the Legwand trade. I still think it’s possible that he could be part of a package.

  13. Alexsander

    June 17, 2014 at 12:13 am

    I feel that the rangers should not buy out Brad Richards because he did his part throughout the playoffs, except for the Stanley cup finals. What NY has to do is resign most of their key free agents and then trade stepan and Nash for joe thorton who will be hungry to win a cup. The Rangers need another big center who can put the puck in the net and he is one of those players. Rick Nash never steps up when it means something like the olympics or Stanley cup playoffs he doesn’t do anything. I also think they should let starlman go and sign a defensman who can score points. In the playoffs no one but mcdonagh did anything offensively.

  14. Alex

    June 17, 2014 at 7:16 am

    @Alexsander you’re saying Nash never steps up but you want Joe Thorton? Really? Also, I think the Sharks would immediatly go for a Nash and Stepan for Thorton deal. Joe is 34, Nash is 30 stepan is 23. That would be a horrible trade for the Rangers.

  15. ChrisB

    June 17, 2014 at 10:16 am

    Horrible trade for the Sharks too. Not only do they take on $4 m in cap space, it doesn’t even address a real team need. Theirs is pretty much the same as every other team in the league, a top 4 Dman. Possibly even two, for more flexibility if they want to use Burns as a potential injury replacement among the forwards.

    Not to mention both Nash and Thornton have NTC. Nash may waive his, not so sure about Thornton with his.

    But forget about all that, I’m still trying to picture Jumbo putting the puck in the net, because he is far from a goal scorer. Yea, he could probably hit 20, but he’s a pass first kind of guy, and has been his whole career.