Winnipeg Jets to Buy Out Defenceman Nate Schmidt

The Winnipeg Jets are buying out Nate Schmidt.

The Winnipeg Jets have placed defenceman Nate Schmidt on Unconditional Waivers for the purpose of a contract buy-out.

The team will now have some additional spending for the offseason and upcoming free agency period.

At the NHL Draft, general manager Kevin Cheveldayoff mentioned that the team would explore all opportunities presented when exploring what to do to make his team the most productive.

The buyout is the team's third in franchise history. Former captain Blake Wheeler also had the final year of his contract bought out last year prior to free agency.

This move will give Winnipeg an additional $3.23 million in spending ability over the summer, shoring up some of Schmidt's annual $5.95 million payday. 

Having spent the last three seasons with Winnipeg, Schmidt will now be free to sign anywhere he so chooses as an unrestricted free agent, while also receiving pay from the Jets. 

Schmidt will be giving Winnipeg relief while having free reign on where he so chooses to sign. 

The Jets will be penalized roughly $2.7 million next season and $1.6 million the following year. But the savings will be what Cheveldayoff and company will focus on going forward.