The tight salary cap is causing NHL teams to explore ways to free up space. Jacob Stoller considers five players whose contracts may need bought out to make room.

Salary-cap flexibility is paramount to success in a flat-cap world.

In a league where the salary cap doesn’t rise as much annually the way like the NBA or NFL does, any way to get that extra bit of wiggle room must be explored. For a long time, buyouts have been seen as a last resort ploy. And while that’s still generally true, the reality is that buyouts do provide salary-cap relief. It’s almost like you’re financing the cap hit across several years as opposed to paying a higher annual price in a shorter period in most cases.

Let's take a look at five players that could be bought out this summer. All contract information is courtesy of CapFriendly.

Oliver Ekman-Larsson, D, Vancouver

The Vancouver Canucks are a projected $668,750 over the cap at the moment, so they will undoubtedly do everything they can to shed salary this off-season. Buying out Oliver Ekman-Larsson, who carries a $7.26-million cap hit for the next four seasons, should be atop their priority list.

Originally acquired during the 2021 off-season in a deal that saw the Arizona Coyotes retain $990,000 annually, the 31-year-old defenseman has gone from being a serviceable, albeit overpaid, second-pairing defenseman in Year 1 to a player in need of a big bounce-back season in Year 2.

At this point, even if the Canucks were to retain 50 percent of his salary, Ekman-Larsson is virtually untradeable due to not only how much his game has declined but the fact he has a full no-move clause. 

Buying out Ekman-Larsson would cost $146,667 against Vancouver's cap in 2023-24, $2,346,667 in 2024-25 and $4,766,667 in 2025-26 and '26-27 before it becomes $2,126,667 for the following four years. 

With Elias Petterson and Filip Hronek slated to become RFAs in 2024-25, the Canucks must procure as much cap relief as they can for future seasons. They could free up just more than $7 million this upcoming season, about $4.9 million the following year and just less than $2.5 million for the two campaigns afterward. THN.com's Adam Proteau also explored the Canucks making this move recently.

Tony DeAngelo, D, Philadelphia

After being a healthy scratch for the Philadelphia Flyers’ last five regular-season games, it appears Tony DeAngelo’s Flyers tenure is at risk of ending.

DeAngelo — 42 points in 70 games this year — has long been renowned as a high-end offensive defenseman who can quarterback a power play. However, the 27-year-old defenseman has developed a reputation as a defensive liability who has made headlines for various off-ice issues.

Given that DeAngelo — who has played for three teams in the last three years — carries a $5-million cap hit, it’s hard to imagine there being much of a market for his services. Granted, the Flyers could retain 50 percent of his salary — and a third-party team could be used as a broker – which could change things. But if there’s no trade to be had and the Flyers are adamant that he cannot return, buying out DeAngelo would come with a relatively low cap penalty ($1,666,67) for the next two seasons.

As the Flyers look to embark on a new era, moving a piece like DeAngelo could be more about addition by subtraction than anything. But from an asset management standpoint, a team like Philadelphia – who doesn’t look poised to contend next season – could really capitalize on having an influx of salary cap space. Weaponizing that space as a means of acquiring picks and prospects at the deadline could really speed up the rebuild.

Cal Petersen, G, Los Angeles

It’s safe to say the Los Angeles Kings’ gamble on Cal Petersen hasn’t gone to plan.

Despite having only played 54 career NHL games ahead of the 2021-22 season, the Kings signed Petersen to a three-year, $15-million contract that began this past season. The cracks began to show before the contract even kicked in, with the 28-year-old goaltender posting a .895 save percentage in 37 games last year. Things only went south this year, with Petersen recording a .868 save percentage and 3.75 goals-against average in 10 games before being re-assigned to the AHL, where he posted a pedestrian .904 save percentage and 2.88 GAA in 40 games.

With a $5-million cap hit and a modified no-trade clause for the next two seasons, it’s safe to say Petersen has zero trade appeal. Granted, a buyout is a bit complicated — the first year of the four-year post-buyout window costs the Kings $5,166,67 before it converts into a $1,166,667 penalty for the next three years. 

It would actually cost the Kings $166,667 more this season to buy him out. But by buying out Petersen, LA would be giving themselves more cap flexibility for the 2024-25 season — which is when Anze Kopitar and Viktor Arvidsson become UFAs, and Quinton Byfield and Arthur Kayliev become RFAs.

Another alternative would be the Kings trading Petersen and a sweetener to a rebuilding team over the next few years who could then buy him out or give him another chance. 

Ryan Suter, D, Dallas

Could Ryan Suter really be bought out twice in three years? Yes, he very well could.

After the Minnesota Wild bought him out ahead of the 2021-22 season, Suter signed a four-year, $14.6-million contract with the Dallas Stars. While Suter has logged 22:01 of ice time per game over the last two years, the 38-year-old isn’t getting any younger. His play during the 2022-23 playoffs, along with the emergence of Thomas Harley, ought to make one wonder if this off-season is the time to cut bait.

Buying out Suter would cost a relatively mild cap penalty for the next four years — $783,333 in the first two years before it becomes $1,433,333 for the two years after that. While Dallas is projected to have $7,394,671 in cap space this upcoming season, the additional short-term flexibility gleaned from buying out Suter could be exactly what GM Jim Nill needs to re-sign free agents and add to a roster that’s in the midst of their Cup window.

Now, whether Dallas would use their newfound cap space via a buyout and re-invest it into re-signing trade deadline additions like Evgeni Dadonov and Max Domi, sign other players in free agency, or keep it going into next season, is a whole other topic. But by buying out Sutter, the Stars will be afforded a lot more freedom to enhance their roster.

Blake Wheeler, RW, Winnipeg

Coming off a 55-point campaign, Blake Wheeler may not scream buyout candidate to the naked eye.

But when you dig a little deeper, it’s actually plausible.

The Winnipeg Jets are going to change, one way or another. After virtually running it back with a team that missed the playoffs by eight points in 2021-22, the Jets were knocked out in the first round this year and put up an effort that had their coach questioning the teams’ compete level. Something’s got to give. 

Last off-season, the Jets reportedly looked to find a new home for Wheeler, but eventually, the hang-up was that Winnipeg wasn’t willing to retain a portion of the now 36-year-old’s $8.25-million salary.

So, wouldn’t that negate a buyout?

Well, since that unfolded – the Jets stripped Wheeler of the captaincy, though it didn’t appear that Wheeler’s place as the teams’ leader changed after all, based on comments in the end-of-season media availability from players.

Buying Wheeler out would turn the page on this long-standing core and count $2.75 million against the cap for the next two seasons. That may sound steep, mainly for next year, where Wheeler was never slated to be off the books. But it does spread out the financial burden across two years, and the Jets save $5.5 million in this upcoming season for a potential all-in run if goalie Connor Hellebuyck explores free agency after next season.

Right or wrong, the Jets have developed a reputation as fearlessly loyal and an organization that prides itself on doing right by players, especially those that have been good soldiers for them. In the Jets’ eyes, Wheeler – the longest-tenured player in Jets 2.0 history – did a lot for them. If the former captain wants a new opportunity and the trade market shrivels up, perhaps a buyout is the way to go.