The Edmonton Oilers have placed goaltender Jack Campbell on unconditional waivers for the purposes of buying out his contract.
A buyout can come back to bite NHL teams, but the immediate cap relief from parting with a player who's holding the squad back could be well worth it.
Jack CampbellThe Edmonton Oilers placed Jack Campbell on unconditional waivers for the purpose of a buyout.
The team announced the decision Sunday after Campbell spent most the season in the AHL. Once he clears waivers on July 1, he will become a UFA.
Campbell, 32, was in the second year of a five-year contract worth $5 million per year. The buyout length will now last six seasons. Here's the cap hit per year, according to PuckPedia:
2024-25: $1.1 million
2025-26: $2.3 million
2026-27: $2.6 million
2027-28: $1.5 million
2028-29: $1.5 million
2029-30: $1.5 million
That means the Oilers will save $3.9 million next season, $2.7 million in 2025-26 and $2.4 million in 2026-27.
More to come.