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Compliance buyout

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Compliance buyouts (sometimes referred to as amnesty buyouts) allow National Hockey League (NHL) teams to buy-out a player's contract by paying him two-thirds of the remaining value of a contract over twice the remaining length of the contract. If the player is under 26 years old, then the team may pay the player just one-third of the remaining contract value.[1] In ordinary-course buyouts, the team's NHL salary cap hit for the player is stretched over a period of twice the remaining length of the contract. Compliance buyouts follow the same formula as ordinary-course buyouts but do not count against the cap.

Due to the 2012–13 NHL lockout, the salary cap was not to increase to the projected $70.2 million, so each team was therefore granted two compliance buyouts to be exercised after the 2012–13 season and/or after the 2013–14 season that would not count against the salary cap in any further year in order to better comply with a lower than expected cap value, regardless of the player's age. After using an compliance buyout on a player, that player is prohibited from rejoining the team that bought him out for one year; the NHL deemed that the re-signing of a player following a trade and a subsequent compliance buyout would be ruled as cap circumvention.[2]

Following the 2012–13 NHL lockout each team was granted one accelerated compliance buyout in order for teams to meet the lowered salary cap. This could be used on a player with a salary cap hit of US$3 million or more before the regular season began. If an accelerated compliance buyout is used, that team will only have one more compliance buyout left, and they must use it after the completion of the 2012–13 season (and before the start of 2013–14 season). The player's cap hit is applied in full to the team's salary cap for the 2012–13 season, but for no season after, regardless of contract length.

Available during the off-season in 2013 and 2014, amnesty buyouts begin 48 hours after the conclusion of the Stanley Cup Finals.

In 2013, it began 48 hours after the conclusion of the Stanley Cup, and ended on July 4, 2013. The second NHL compliance buyout period opened on June 16, 2014, and ran through June 30, 2014, with 26 teams having one or more compliance buyout available to be used.[3]

List of compliance buyouts

The following is an unofficial list of all the compliance buyouts that have been used:[4][5]

Team Player Date Length Amount References
Buffalo Sabres Ville Leino June 18, 2014 6 years $7,333,333 [6]
Christian Ehrhoff June 29, 2014 14 years $12,000,000 [7]
Calgary Flames Shane O'Brien June 30, 2014 2 years $1,466,667 [8]
Chicago Blackhawks Steve Montador June 27, 2013 4 years $2,733,333 [9]
Rostislav Olesz June 27, 2013 2 years $2,833,333 [10]
Dallas Stars Aaron Rome June 17, 2014 2 years $1,066,667 [11]
Detroit Red Wings Carlo Colaiacovo July 3, 2013 2 years $1,900,000 [12]
Jordin Tootoo June 18, 2014 2 years $1,333,333 [13]
Edmonton Oilers Eric Belanger July 4, 2013 2 years $833,333 [14]
Florida Panthers Ed Jovanovski June 30, 2014 2 years $2,666,667 [15]
Minnesota Wild Tom Gilbert July 3, 2013 2 years $2,000,000 [16]
Montreal Canadiens Scott Gomez1 January 15, 2013 3 years $3,000,000 [17]
Tomas Kaberle June 28, 2013 2 years $3,000,000 [18]
New Jersey Devils Johan Hedberg July 4, 2013 2 years $933,333 [19]
Anton Volchenkov June 30, 2014 4 years $5,666,667 [8]
New York Islanders Rick DiPietro July 3, 2013 16 years $24,000,000 [20]
New York Rangers Wade Redden1 January 17, 2013 3 years $3,333,333 [21]
Brad Richards June 20, 2014 12 years $20,666,667 [22]
Philadelphia Flyers Daniel Briere June 26, 2013 4 years $3,333,333 [23]
Ilya Bryzgalov June 26, 2013 14 years $23,000,000 [24]
San Jose Sharks Martin Havlat June 27, 2014 2 years $4,000,000 [25]
Tampa Bay Lightning Vincent Lecavalier June 27, 2013 14 years $32,666,667 [26]
Ryan Malone June 25, 2014 2 years $1,666,667 [27]
Toronto Maple Leafs Mike Komisarek July 2, 2013 2 years $2,333,333 [28]
Mikhail Grabovski July 4, 2013 8 years $14,333,333 [29]
Vancouver Canucks Keith Ballard July 3, 2013 4 years $5,600,000 [30]
David Booth June 17, 2014 2 years $3,166,667 [31]
Washington Capitals Jeff Schultz July 3, 2013 2 years $2,000,000 [32]
Notes
  1. Accelerated compliance buyout

References

  1. ^ NHL's compliance buyouts are similar to NBA's amnesty concept
  2. ^ Brooks, Larry (June 26, 2013). "NHL trips up buyouts". New York Post.
  3. ^ "Compliance buyout period opens on Monday". USA Today. June 15, 2014.
  4. ^ http://www.tsn.ca/nhl/feature/?id=99026
  5. ^ http://www.sportsnet.ca/hockey/nhl/countdown-to-nhl-buyout-season-what-we-know/
  6. ^ http://www.nhl.com/ice/news.htm?id=722919
  7. ^ http://www.tsn.ca/nhl/story/?id=455997
  8. ^ a b http://www.tsn.ca/nhl/story/?id=456069
  9. ^ http://espn.go.com/chicago/nhl/story/_/id/9429042/steve-montador-rostislav-olesz-bought-chicago-blackhawks
  10. ^ http://www.nhl.com/ice/news.htm?id=675474
  11. ^ http://www.nhl.com/ice/news.htm?id=722818
  12. ^ St. James, Helene (July 3, 2013). "Red Wings to buy out Carlo Colaiacovo". USA Today.
  13. ^ Roose, Bill (June 18, 2014). "Red Wings place Tootoo on waivers". NHL.com. Retrieved June 18, 2014.
  14. ^ http://oilonwhyte.com/2013/07/04/oilers-waive-eric-belanger-will-use-compliance-buyout/
  15. ^ http://panthers.nhl.com/club/news.htm?id=724649
  16. ^ http://wild.nhl.com/club/news.htm?id=676371
  17. ^ http://www.sbnation.com/nhl/2013/1/15/3879834/nhl-compliance-buyouts-2013-scott-gomez-wade-redden
  18. ^ http://canadiens.nhl.com/club/news.htm?id=675543
  19. ^ http://www.nhl.com/ice/news.htm?id=676559
  20. ^ http://www.nhl.com/ice/news.htm?id=676367
  21. ^ "Rangers buy out Wade Redden's contract". CBC News. January 17, 2013.
  22. ^ Hascup, Jimmy (June 20, 2014). "Brad Richards bought out by Rangers". USA Today.
  23. ^ http://www.tsn.ca/nhl/story/?id=425925
  24. ^ http://www.nhl.com/ice/news.htm?id=675174
  25. ^ http://www.sportsnet.ca/hockey/nhl/san-jose-sharks-using-buyout-on-martin-havlat/
  26. ^ http://www.tsn.ca/nhl/story/?id=426423
  27. ^ "LIGHTNING USE COMPLIANCE BUYOUT ON F MALONE". TSN.ca. 2014-06-25. Retrieved 2014-06-25.
  28. ^ "Maple Leafs use compliance buyout on Mike Komisarek". CBC News. July 2, 2013.
  29. ^ http://www.nhl.com/ice/news.htm?id=676521
  30. ^ http://prohockeytalk.nbcsports.com/2013/07/03/canucks-inform-ballard-that-contract-will-be-bought-out/
  31. ^ "CANUCKS PLACE BOOTH ON WAIVERS FOR EVENTUAL BUYOUT". Tsn.ca. The Canadian Press. Retrieved June 17, 2014. {{cite web}}: |first1= missing |last1= (help)
  32. ^ Carrera, Katie (July 3, 2013). "Capitals buy out Jeff Schultz". The Washington Post.
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