NHL buyout window to open Friday, run through June 30
Published
The NHL's first buyout window of the off-season will open Friday and run through June 30 at 5p.m. ET.
The window was scheduled to open on the later of either June 15 or 48 hours after a Stanley Cup champion was crowned. The Vegas Golden Knights defeated the Florida Panthers in Game 5 Tuesday to claim their first Stanley Cup.
Buyouts are used by teams to create cap space, while taking on a cap charge after the contract would have expired. The cap charges last double the amount of time that was remaining on a player's contract.
If a player is under the age of 26 at the time of their buyout, the club will owe the player one-third of their remaining contract value. Should the player be 26 or older, the club will owe the player two-thirds of the remaining value on their contract. Cap charges are subject to change based on signing bonuses and other factors.
Among Canadian teams, the Edmonton Oilers, Montreal Canadiens and Ottawa Senators will face cap charges from previous buyouts in 2023-24.
The Oilers face a cap charge of $1.917 million for two more seasons from their buyout of James Neal in 2021. The Canadiens are entering the final season of carrying a cap charge of $833,333 from buying out Karl Alzner in 2020.
The Senators face $3,46 million in cap charges from buyouts in 2023-24. The team is entering the final year of both Bobby Ryan's ($1.83 million) and Michael Del Zotto's ($750,000) buyouts. Colin White's 2022 buyout leaves the Senators with a $875,000 this upcoming season, though Ottawa will get a $625,000 cap credit in 2024-25. The Senators will then face a charge $875,000 again in each of the following three seasons.