One of the worst kept secrets in the league finally was made public on Friday. Senators goalie, Ray Emery, was waived in order to buy him out in 24 hours. GM Bryan Murray announced that Emery would not play for the Sens again during the playoffs and has now started proceedings to see it happen without compensation.
Obviously, no team jumped at the chance to trade for Emery, since the intentions were known that he would be bought out come time, but if a team values Emery at the cost of his contract at the moment ($3.2 million), then they can have him off the waiver wire for that much. Otherwise, he'll become an unrestricted free agent and teams can negotiate his fee, if they so desire.
No one is terribly surprised that Dan Cloutier has fallen on the same fate as Emery above. Cloutier and his $3.1 million cap hit have also been waived, in order to buy him out. Cloutier hasn't fared well in recent seasons, playing in the minors for the Kings this past season, before a brief stint back with the big club.
Both teams will have to endure some buy out cap hits, which the teams are obviously prepared to do. Both keepers will become unrestricted free agents when they are bought out and it will be more interesting to see how much interest they will garner from other teams.
Team updates for the Sens and Kings will likely follow with bigger deals with additions.