Post by Jake A on Sept 23, 2022 14:54:34 GMT -5
Teams may waive any player to free agency at any time. There will be a 72-hour waiver period. Waiver order will be determined by prior-year standings (in our first year the order will be the inverse of the NHL draft). The waiver order will be updated following claims. The claiming team assumes the entire contract as is. If a player goes unclaimed, the team must pay a 50% buyout of the entirety of the remaining contract. This can be eaten in the current year or spread out over the remaining contract.
Example:
Oilers buy out McDavid from his 3 year $10 mil per year contract. 50% of $30 mil is $15 mil. Oilers can pay $15 mil this year or $5 mil per year for three years.
Prospects can be waived without cost at any time, but the waiver system still applies.
Retired players mid-contract are subject to the 50% buyout.
Example:
Oilers buy out McDavid from his 3 year $10 mil per year contract. 50% of $30 mil is $15 mil. Oilers can pay $15 mil this year or $5 mil per year for three years.
Prospects can be waived without cost at any time, but the waiver system still applies.
Retired players mid-contract are subject to the 50% buyout.