06/29: Atkinson has cleared unconditional waivers and will be bought out, shares Sportsnet’s Elliote Friedman (Twitter link).
06/28: The Philadelphia Flyers are planning to buy out the final season of Cam Atkinson’s seven-year, $41.125MM contract, the team shared. Philadelphia will carry a $2.358MM cap hit this season, and a $1.758MM cap hit next season, as a result of this buyout – accumulating $1.759MM in total savings over the $5.875MM cap hit that Atkinson was due this year. The Flyers will also get out from under Atkinson’s modified no-trade-clause, which allowed the veteran winger to submit a 10-team no-trade list.
This buyout brings a quiet end to Atkinson’s three-year stretch in Philadelphia. He was plenty productive two sesaons ago, posting 23 goals and 50 points in 73 games – his highest scoring since 2019. But Atkinson was forced out of the entirety of the 2022-23 season with a neck injury and struggled to rekindle his spark this year. He fell to a measly 13 goals and 28 points in 70 games. On the back of lagging performances, Atkinson slipped all year, ultimately earning multiple healthy scratches in the season’s second half.
Benchings are a heavy fall for Atkinson, who spent nearly a decade locked into the Columbus Blue Jackets top-six earlier in his career. He posted at least 20 goals in every season between 2013 and 2019 – including a career-high 41 goals and 69 points in 80 games during the 2018-19 season. But injuries have never been Atkinson’s friend – with a string of lower-body injuries limiting his early career and a nagging right-ankle sprain ultimately cutting his 2019-20 and 2020-21 seasons in half. With the writing of an aging veteran on the wall, Columbus flipped Atkinson to the Flyers in July of 2021, acquiring Jakub Voracek – another veteran winger plagued by injuries.
And while Atkinson will now enter the free agent market with still winds, there seems to still be interest around the league. The San Jose Sharks were reportedly interested in trading for Atkinson just two weeks ago, though his trade protection kept him from going to a Sharks team that seems set for another down year. San Jose surely would’ve preferred Atkinson’s near-$6MM price tag, as they try to reach the cap floor, but will now get a chance to negotiate openly with the 12-year veteran. Atkinson hasn’t found much success over his career, playing in just 35 career postseason games, but he offers the leadership of a veteran with 770 career games – a presence that could be invaluable to young teams like the Sharks.
SMH
Stupid
Doesn’t seem like a whole lot of bang for your buck. Just adding more years to the problem. Seems like they could of traded him with retained salary and taken away the hit next year. But I’m not an expert.
They tried at least once (Sharks), but San Jose was on his no-trade list
link to prohockeyrumors.com
Seems to me he’ll be 36 when this deal runs out. He could of wrangled at least another year out of the Sharks who aren’t cash strapped anymore but cool. At least it showed they wanted him at least for a mentor apparently. How hilarious would it be if they were the only ones who wanted him and he ends up signing there anyway? That would be a Clown Show.
Hey Josh, Out of curiosity how does a buyout work for the player? I assume they still get all the money right? Or do they only get the amounts it shows? Do they lose money? If they sign with another team how does that work? Thanks as always
Players receive the entirety of any signing bonuses they were due and 2/3 of their remaining base salary (1/3 if they are under 26 years old at the time of the buyout). Signing a new contract with another team does not impact what they get from the buyout.
For example, Atkinson was due no signing bonuses and a $5.275MM base salary in 2024-25. With the buyout, he’ll get 2/3 of what he was originally owed ($3.517MM) spread over the next two seasons. The cap hit of the buyout comes from a complex formula and doesn’t always reflect the actual amount of cash the player is receiving.
If Atkinson signs somewhere else this summer, there’s no effect. He’ll get his reduced paycheck from the Flyers plus whatever he signs for with a different club.
So it’s official. He’s a moron. If he accepted the trade he’d get all of his salary and probably been traded at the deadline for a chance at a ring. Now he’s out a third of his money and has to look for a job. His application to Mensa- Rejected!
I’ll admit I’ve been watching hockey for a long time and never paid much attention to how buyouts worked. Just assumed they get their whole pay not just 2/3 or 1/3. I’ve leaned something today. Thanks for the great explanation.
I also assumed they got all the money and the rest was just Cap accounting. I also learned something.
@UM: He will likely make up that 1/3 salary on his new contract and get his choice of where to sign.
If somebody wants him you mean. That hasn’t been established yet.
Of course Its highly likely some team will take the risk at around 1.5mil, though.
He doesn’t want to play on the West Coast with his family in Columbus. Some things matter more than just money.
For around league minimum he can sign with almost anyone now.
I admit I have no idea how the buyout works for the player and what they get and when.
The hit next year no big deal since cap will greatly increase. Getting rid of another old player always a good idea.
On buyouts, Any player that is 26 or over they get paid only 66% of the total pay owed. Any player that is 25 or younger only receives 33 % of pay owed.