The NHL's buyout period runs from June 15-30, with most buyouts usually occurring within the first week.
Contract buyouts work like this. The buyout amount equal to 2/3 of the total amount remaining in the contract which when applied against the salary cap is spread over twice the term of the remaining contract. So if a player is being paid $3 million per year and has two years remaining then the buyout amount is 2/3 of $6 million = $4 million. The amount applied against the cap is $1 million per year for 4 seasons. Players under 26 are bought out for 1/3 of their remaining contract.
Players who will be bought out are either untradeable or have a no-trade contract and refuse to waive it. Leading this group is Ray Emery, whose inability to retain his starter's job, clashes with coaching staff and teammates and off-ice issues became unnecessary distractions last season which were partially responsible for the Senators second-half struggles. He is only 25 so his buyout will be for 1/3 of his remaining $2.25 million contract.
The rumours have the Leafs buying out Darcy Tucker and Andrew Raycroft. My guess is they will keep Tucker around and buyout only Raycroft if Tucker is still considered a "character" player. His agent indicated to the media last week that his client will not agree to a trade so that option isn't available to the Leafs. Could there be others. Stay tuned!
The Boston Bruins could decide to part ways with veteran winger Glen Murray, who has one season remaining on his contract at $4.125 million. He only had about 30 points last season which is quite a drop from a career high 92 points 5 seasons ago.
Other potential buyout candidates include Los Angeles' Kyle Calder, Atlanta's Alexei Zhitnik, Calgary's Anders Eriksson, Carolina's Jeff Hamilton, Montreal's Mathieu Dandenault and Pittsburgh's Darryl Sydor.
