Tuesday, June 24, 2008

Cutting Ties by Buy-Outs

It's quickly becoming fashionable for the buy-out process in the NHL. On Monday, both Jeff Hamilton and David Tanabe were waived for buy-out purposes and on Tuesday, they cleared waivers, leaving the bureaucratic door open for the Hurricanes to cut ties with the players.

Hamilton played in 58 games for the Hurricanes in 2008, scoring 9 goals and adding 15 assists. His $800,000 cap hit will be taken down by two-thirds for the next couple seasons, thanks to the buy-out.

Tanabe only managed 18 games with the club in Raleigh, scoring a goal and 2 assists for the club. The 28-year old defenseman will now become an unrestricted free agent after the team cut his $750,000 salary from the payroll.

In Washington on Monday, the Capitals also start the process with defenseman Ben Clymer. Clymer didn't even make the cut with the Capitals last season, playing the whole year in the minors. His potential cap hit of $983,000 will now be cut down for the next couple seasons and Clymer will also become a free agent.

The league's buy-out period will continue through June 30th.

No comments: