NHL teams can buy out the contract of players they no longer want starting today, but the Detroit Red Wings won’t be using the opportunity. They don’t have to, according to Wings GM Ken Holland.
“I think all our contracts are pretty good,” general manager Ken Holland said Monday. “Put our players on the open market, they’d get what they make — or in some cases get more than what they make.”
Players 26 years and older can get bought out at two-thirds the cost remaining on their deals. Those under 26 get one-third. Teams get double the time amount to absorb the cap hit in both cases, meaning if a player has a two-year deal they can spread the hit out over four years.
With $52.7 million committed to 17 players, the Wings really don’t need to buy out anyone. They’re still looking at re-signing free agents Todd Bertuzzi, Justin Abdelkader, Darren Helm, Derek Meech, Drew Miller, Patrick Eaves and possibly Andreas Lilja. The only scenario where the Red Wings would have considered a buyout was if a player like Jason Williams, who is not being offered a new contract, had a year left on his deal.