Every June, there is a brief window of opportunity for NHL teams to buy out the remaining value of player contracts that have proven unwieldy for their payroll. The buyout period begins either June 15 or 48 hours following the completion of the Stanley Cup Final (whichever comes last) and concludes June 30.
For players 26 and older, the buyout is two-thirds the remaining value of the contract over twice the remaining term. For players under 26, it's one-third. The rule also applies to players who were 35 or older when they signed their contracts.
Under this plan, the team takes a buyout cap hit over twice the remaining term of the contract. These amounts can vary from year to year, depending upon how the salary was structured. Players who are still recovering from injuries incurred as a result of game play or practice are ineligible to receive contract buyouts.
When the current NHL CBA was implemented, teams were allowed two compliance buyouts over a two-year period. These fall under the same value calculation as regular buyouts but do not count against a team's salary cap. This year is the final one for general managers to use this option. It could provide additional incentive for some teams to free up additional cap space.
Here's a listing of 10 NHL players who could become candidates for contract buyouts this June.