NHL Teams Place Forwards on waivers as Buyout Window nears End
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As the NHL’s buyout window nears its conclusion on june 30th, teams are actively managing their rosters and salary cap situations.In recent moves, forwards Conor Sheary and Joseph Veleno have been placed on waivers, signaling potential changes for the Tampa Bay Lightning and Seattle Kraken, respectively.
Lightning place Sheary on Waivers to Create Cap Space
Conor Sheary, a 33-year-old forward, had one year remaining on his contract with the Tampa Bay Lightning, carrying a $2 million cap hit. After appearing in just five games this past season, the Lightning made the decision to place Sheary on waivers to free up crucial cap space. This move allows Tampa Bay to gain financial flexibility as they navigate the complexities of the NHL’s salary cap system.
Did You Know? The NHL’s salary cap for the 2024-25 season is $88 million, requiring teams to strategically manage their player contracts.
Kraken Waive Veleno after Acquiring Him in Trade
Joseph Veleno, who had one year left on his contract after signing a two-year, $4.55 million deal last offseason, finds himself on waivers after being traded to the Seattle Kraken from the Chicago Blackhawks for Andre Burakovsky. Veleno recorded eight goals and 17 points in 74 games last season, splitting time between the Detroit Red Wings and Blackhawks. The Kraken’s decision to waive Veleno suggests they may have other plans for their roster composition as they prepare for the upcoming season.
Pro Tip: NHL teams often use waivers strategically to assess a player’s value and gauge interest from other teams before making a final decision on their roster.
Understanding NHL Waivers and Buyouts
The NHL waiver system is a mechanism that requires teams to make players available to other teams before they can be assigned to the minor leagues [1]. this gives other teams the opportunity to claim the player and add them to their roster. Buyouts, on the other hand, allow teams to terminate a player’s contract, providing immediate cap relief but with long-term financial implications [2].
| Transaction | Description | Cap Impact |
|---|---|---|
| Waivers | Player made available to other teams before being assigned to minors. | Potential cap relief if claimed by another team. |
| Buyout | Team terminates player’s contract. | Immediate cap relief, but cap hit spread over multiple years [3]. |
The Importance of cap Management in the NHL
In the modern NHL, effective salary cap management is crucial for sustained success.Teams must carefully balance their spending on player salaries with the need to maintain a competitive roster. Waivers and buyouts are just two of the tools that general managers use to navigate the complexities of the cap and make strategic decisions that benefit their team’s long-term prospects.
Frequently Asked Questions About NHL Waivers
What are waivers in the NHL?
Waivers are a transaction process required to move a player, who has met certain playing or experience requirements, from the NHL to the minor league level [1].
Why do teams place players on waivers?
Teams place players on waivers for various reasons,including creating cap space,reassigning players to the AHL for development,or making room for other players on the roster.
What happens if a player is claimed off waivers?
If a player is claimed off waivers, the claiming team assumes the player’s contract and adds them to their roster.
What is an NHL buyout, and how does it work?
An NHL buyout allows a team to terminate a player’s contract, freeing up cap space. The team still pays a portion of the player’s salary, spread out over a longer period [2].
When is the NHL buyout window?
Buyouts can start on the later of June 15 or 48 hours after the Playoffs end,and the buyout period ends June 30 at 5pm Eastern. Teams may receive an additional Buyout window [2].
What do you think of these roster moves? How will they impact the Lightning and Kraken next season? Share your thoughts in the comments below!
