The Boston Bruins are set to buy this player out
The Boston Bruins face a decision regarding defenseman Mike Reilly, as the NHL has announced the opening of the 2023 buyout window. This window will begin on Friday and conclude on June 30 at 5p.m. ET. Meanwhile, unrestricted free agency is set to kick off at noon the following day.
Last year, Reilly signed a three-year, $9 million contract ($3M AAV) with the Bruins. However, things quickly took a downturn for the 29-year-old defenseman. He became a buyout candidate, waived twice, and found himself on the NHL trade market. Despite efforts by general manager Don Sweeney to move Reilly and other salaries, no team has shown interest so far. Reilly ended up playing 36 games for the Providence Bruins in the AHL after just ten with the Boston Bruins.
As the Bruins strive to create a cap-compliant roster for the 2023-24 NHL season, Sweeney is actively looking for ways to part ways with Reilly. Should they choose the buyout option, here's how it works according to PuckPedia:
For players aged 26 or older, the buyout amount is 2/3 of the remaining salary owed on the contract.
For players under 26, the buyout amount is 1/3 of the remaining salary owed on the contract.
The buyout is spread over twice the remaining years of the contract.
Signing bonuses are excluded when calculating the buyout amount and cap hit.
The annual cap hit of the buyout is determined by adding the Original Cap Hit and Contract Signing Bonus for each year, subtracting the Contract Total Salary, and finally adding the Annual Buyout Cost.
Using the PuckPedia Buyout Calculator, it is estimated that Reilly's total buyout cost would amount to $2.6 million. With one year remaining on his contract, the buyout would be spread over two years, resulting in a $1.3 million AAV.
Source: Bostonhockeynow
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