Buyout Notes: Cowen, Bruins, Brown

The first window to buyout unwanted contracts begins Wednesday at 4pm CST, and the process has already begun with the Maple Leafs placing defenceman Jared Cowen on waivers early this morning in preparation to buy him out this evening. While Cowen was long-expected to be bought out, there are many others that will see their names bandied about in the coming weeks.

Bryan Bickell, expected to be bought out, was moved to Carolina earlier today along with Teuvo Teravainen for draft picks. Carolina will keep Bickell under contract as they will have trouble hitting the cap floor this season, and need veteran players to fill the bottom two lines. The window is open until June 30th, here are some other tidbits on upcoming buyouts:

• Still on Cowen, Sportsnet’s Luke Fox brings up an interesting point: due to a contract quirk the Maple Leafs will actually get a $650,000 cap credit for the 2016-17 season, while only paying a $750,000 hit in 2017-18. For the Maple Leafs, this credit gives them even more room to take on bad salary this season while they continue to rebuild.
• DJ Bean of WEEI in Boston reports that the Bruins aren’t ruling out using buyouts on multiple players, listing Jimmy Hayes and Dennis Seidenberg as candidates. As of early afternoon on Wednesday, Seidenberg had not been told anything in regards to receiving a buyout.
• The Hockey News noted that if the Los Angeles Kings did decide to use a buyout on Dustin Brown, his cap hit would stay with them until 2027-28, a tough pill to swallow.  After losing the captaincy earlier this month, and posting his forth straight year of fewer than 30 points, the former USA Olympian is a tough sell to any team. With six years remaining at $5.875MM, Brown’s self-negotiated contract is one of the biggest anchors in the NHL.