Posts Tagged ‘Buyout’

The Philadelphia Flyers have placed forward Oskar Lindblom on unconditional waivers to buy out the final year of his contract, the team announced Tuesday.

Lindblom has one year remaining on his current deal at a cap hit of $3 million.

“This was a very difficult decision to make and one that we spent a lot of time examining,” general manager Chuck Fletcher said in a statement. “No one can question the desire, will, and strength to overcome all that Oskar has been through off the ice in order to return to the game he loves. Further, Oskar’s commitment to his teammates and impact in our room has been immeasurable. He is truly an inspiration to us all, and he will always remain a special part of the Philadelphia Flyers family. We wish him all the best as he continues his NHL career.”

Lindblom was diagnosed with Ewing’s sarcoma – a form of blood cancer – in 2019. He finished treatment and returned to the Flyers, winning the Masterton Trophy for dedication to the sport in 2021.

The Flyers also announced Tuesday they’d be donating $100,000 in Lindblom’s name to local charities that help families impacted by cancer.

Lindblom was a fifth-round pick of the Flyers in 2014. He notched 97 points in 263 games with the club.

Philadelphia will save $3.3 million in cap space this season by buying Lindblom out and will owe $666,667 in 2023-24, according to CapFriendly.

The Houston Rockets and John Wall have reached a buyout agreement, paving the way for the veteran guard to hit free agency, sources told Chris Haynes of Yahoo Sports.

Wall plans to sign with the Los Angeles Clippers once he clears waivers, according to ESPN’s Adrian Wojnarowski.

The former No. 1 overall pick recently exercised his $47.4-million player option for next season but will give back $6.5 million to become an unrestricted free agent, ESPN’s Tim MacMahon reports.

Wall hasn’t played in an NBA game in more than a year. He averaged 20.6 points, 6.9 assists, and 1.1 steals over 40 appearances with the Rockets.

The Kentucky product would provide the Clippers with a proven playmaker. Los Angeles tied for 16th in the Association last season with 24 assists per contest.

Wall was a perennial All-Star with the Washington Wizards before sustaining a series of serious injuries. He earned an NBA All-Defensive second-team selection in 2015 and made the All-NBA third team in 2017.

Wall is the Wizards’ all-time leader in assists and steals.

Satnam Singh’s show-closing debut on last night’s episode of AEW Dynamite was designed to help the promotion’s business in the former NBA draftee’s home country, India.

Aligning with Jay Lethal and Sonjay Dutt, Singh debuted as Dynamite was coming to an end, attacking Samoa Joe following the big man’s Ring Of Honor Television Title victory over Minoru Suzuki. Given the lights-out treatment, Singh helped his new allies subdue Joe in the angle.

Per the Wrestling Observer/Figure Four Online, Discovery’s recent buyout of WarnerMedia (the network hosting AEW’s television content since 2019) means AEW now airs on the Discovery-owned Eurosport in India. With this being the first week of that, AEW founder Tony Khan wanted to make an impact in that market, hence with Singh was used in such a prominent role.

Dutt, an Indian-American whose ring name comes from a famous Bollywood actor in Sanjay Dutt, theoretically has a strong following in the country as well, having been with TNA during the promotion’s heavy targeting of the market years ago.

Singh, who stands at a legitimate 7’3″, signed for AEW in September 2021, four years after attending a WWE tryout.

Thunder Rosa says AEW President, CEO, General Manager & Head Of Creative Tony Khan went above and beyond in bringing her to the company.

As noted, Rosa began working with AEW in September 2020, but the company officially signed her and welcomed her to the team back in late July, on her 35th birthday. It was later reported that Rosa was able to sign with AEW after a buyout that was orchestrated with the NWA. The signing wasn’t a total shock as she had been working with AEW, but it came as somewhat of a surprise as her NWA contract ran through the end of this year. It had been reported that Rosa requested her NWA release as far back as 2020, but the request was denied. It was also stated that AEW officials, especially Khan, were being very careful about not tampering with contracts, and that AEW wanted to play by the book with the Rosa – NWA situation.

In an update, Rosa recently spoke with Fightful for an upcoming interview and said she was very flattered that Khan bought out her NWA contract when it was going to expire in a few months anyway.

There was said to be heat between NWA and Rosa long before that, and she had actually requested the release in late 2020. Rosa noted that Khan went above and beyond to make sure she felt wanted in AEW. She also said Khan has confidence in her abilities.

Regarding the heat between the NWA and Rosa, word is that there was a rocky end to their working relationship. By the end of Rosa’s time with the company, she was going directly through Director of Talent Relations Pat Kenney for her work there.

Kevin Love has no interest in reaching a buyout agreement with the Cleveland Cavaliers, the forward’s agent told ESPN’s Adrian Wojnarowski.

The five-time All-Star has two years and $60 million remaining on his contract.

It appears Love’s only way out of Cleveland is through trade. Few teams are lining up to take on his remaining salary, especially considering the 32-year-old’s recent injury history. The veteran only appeared in 25 games during the 2020-21 season and missed out on the Tokyo Olympics due to a lingering calf ailment. USA Basketball director Jerry Colangelo called Love’s inclusion in the initial 12-man roster “a mistake.”

Love’s path to minutes in Cleveland’s frontcourt rotation appears even murkier following the team’s recent acquisition of Lauri Markkanen from Chicago. The Cavs also feature budding big man Jarrett Allen and No. 3 pick Evan Mobley.

Love averaged 12.2 points on 36.5% shooting from long range along with 7.4 rebounds last season.

The Memphis Grizzlies and veteran point guard Rajon Rondo reached an agreement on a buyout, sources told The Athletic’s Shams Charania.

The Los Angeles Lakers are the front-runners to sign the 35-year-old once he clears waivers and reaches free agency, Charania reports.

Rondo split 45 games last season between the Atlanta Hawks and Los Angeles Clippers, averaging a combined 5.4 points, 4.4 assists, and 2.4 rebounds. The Clippers traded him to the Grizzlies earlier this month along with Patrick Beverley and Daniel Oturu in exchange for Eric Bledsoe.

This would mark Rondo’s second stint with the Lakers. He appeared in 92 games with L.A. across two seasons from 2018-20 and played a key role in their 2020 championship.

The Detroit Red Wings bought out the final year of Frans Nielsen‘s contract, a source confirmed to The Athletic’s Max Bultman.

Nielsen had one year remaining on his deal with a cap hit of $5.25 million. He inked the six-year, $31.5-million pact with Detroit in 2016.

With the buyout, Nielsen’s contract will now have a $4.25-million cap hit during the 2021-22 season and a $500,000 cap hit the following year, per CapFriendly.

The 37-year-old recorded five goals and 10 assists across 89 games over the past two seasons. An injury limited Nielsen to 29 contests this past year.

Nielsen’s contract was one of the final deals remaining from ex-general manager Ken Holland’s time in Detroit. The club’s forward group now boasts just one player over the age of 30 – Sam Gagner.

Nielsen has played 925 NHL games and spent the first 10 seasons of his career with the New York Islanders. He’s collected 167 goals and 306 assists since being drafted by the Islanders in 2002.

Thunder Rosa was able to sign with AEW after a buyout was reportedly orchestrated with the NWA.

As noted, AEW announced earlier today that they have officially signed Rosa, on her 35th birthday. You can click here for AEW’s announcement, along with Rosa’s response.

The news wasn’t a total shock as Rosa has been working with AEW, but the fact that she was able to sign with the company was a surprise because her NWA contract ran through the year. We noted before that Rosa had talked about being excited over her free agency in 2022, and that her NWA contract ran through the end of this year.

In an update, Fightful Select reports that a buyout of Rosa’s NWA contract was worked out. There’s no word yet on specifics of the buyout, but we will keep you updated.

Rosa reportedly requested her NWA release as far back as 2020, but that was rejected at the time.

It was also noted that AEW officials, especially boss Tony Khan, are very careful about not tampering with contracts. AEW reportedly wanted to play by the book with the Rosa – NWA situation. It’s been reported in the past that Khan and NWA owner Billy Corgan have often worked together directly, but it remains to be seen if they personally handled the Rosa deal.

Rosa defeated KiLynn King on this week’s AEW Dark episode. She also worked Wednesday’s Elevation tapings in Garland, TX, for a match that will air next Monday night. Her local opponent has not been identified as of this writing.

The six-month saga between the New York Rangers and defenseman Tony DeAngelo is seemingly coming to an end. New York has placed the 25-year-old on unconditional waivers to begin buying out his contract, according to Sportsnet’s Chris Johnston.

DeAngelo will become an unrestricted free agent once he passes through waivers and the buyout is executed, as the Daily Faceoff’s Frank Seravalli noted.

The process would go as follows for DeAngelo, per CapFriendly.

SEASONINITIAL CAP HITNEW CAP HITANNUAL CAP SAVINGS
2021-22$4.8M$383K$4.4M
2022-23$0$883K-$883K

In February, former general manager Jeff Gorton announced the New Jersey native had played his last game as a Ranger.

The tumultuous situation came to a head due to a skirmish between DeAngelo and goaltender Alexandar Georgiev following the club’s January 30 overtime loss to the Pittsburgh Penguins. The franchise placed DeAngelo on waivers the following day.

The blue-liner went unclaimed and didn’t suit up for another NHL contest in the 2020-21 season.

The Montreal Canadiens were apparently interested in him in April, but he didn’t accept. DeAngelo also reportedly rejected New York’s offer to mutually terminate his contract – which would have allowed him to sign elsewhere as a free agent – opting to be bought out this summer instead.

The Rangers signed DeAngelo to a two-year contract with an average annual value of $4.8 million beginning in the 2020-21 campaign. DeAngelo spent four seasons in the Big Apple.

The Minnesota Wild are buying out defenseman Ryan Suter and forward Zach Parise, the team announced Tuesday.

The pair signed matching 13-year, $98-million contracts as free agents in 2012. The buyout for each player will go as follows, per CapFriendly:

SEASONINITIAL CAP HITNEW CAP HIT
2021-22$7.54M$2.37M
2022-23$7.54M$6.37M
2023-24$7.54M$7.37M
2024-25$7.54M$7.37M
2025-26$0$833K
2026-27$0$833K
2027-28$0$833K
2028-29$0$833K

Combining the two buyouts, the Wild will receive significant cap savings for the 2021-22 season but not much afterward.

SEASON(S)ANNUAL CAP SAVINGS
2021-22$10.3M
2022-23$2.3M
2023-25$300K
2025-29-$1.7M

The move also frees up two protection spots for the expansion draft. Both players had to be protected by Minnesota unless they waived the full no-movement clauses in their contracts.

Suter registered three goals and 16 assists in 56 games this campaign. His average ice time of 22:11 was his lowest by over two minutes since joining the Wild.

Parise was a healthy scratch at times this season and tallied just seven goals and 11 assists in 45 contests. His 0.40 points per game tied his career-low mark.

Both players still drove offense this past year in their age-36 seasons. However, Parise – and to a lesser extent, Suter – didn’t post strong defensive metrics.

Evolving-Hockey.com

Minnesota missed the postseason just once in nine campaigns during the Suter-Parise era, but it never made it out of the second round.

Suter finishes his Wild career ranked second in franchise history in assists (314) and fourth in games played (656) and points (369). Parise ranks third in goals (199) and points (400) and seventh in games played (558).