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NHL Rumors: Quick to Rangers, Lucic’s Boston reunion, Wheeler, Duchene bought out

By Marvin Azrak

LAS VEGAS, NEVADA - JUNE 13: Jonathan Quick #32 of the Vegas Golden Knights hoists the Stanley Cup after the team's 9-3 victory over the Florida Panthers in Game Five of the 2023 NHL Stanley Cup Final at T-Mobile Arena on June 13, 2023 in Las Vegas, Nevada. The Golden Knights won the series four games to one. (Photo by Ethan Miller/Getty Images)
LAS VEGAS, NEVADA - JUNE 13: Jonathan Quick #32 of the Vegas Golden Knights hoists the Stanley Cup after the team's 9-3 victory over the Florida Panthers in Game Five of the 2023 NHL Stanley Cup Final at T-Mobile Arena on June 13, 2023 in Las Vegas, Nevada. The Golden Knights won the series four games to one. (Photo by Ethan Miller/Getty Images) /
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Blake Wheeler #26 of the Winnipeg Jets. (Jason Halstead/Getty Images)
Blake Wheeler #26 of the Winnipeg Jets. (Jason Halstead/Getty Images) /

NHL Rumors: Blake Wheeler and Matt Duchene buy outs explained

On Friday, two prominent forwards, Blake Wheeler and Matt Duchene, were bought out of their respective contracts. Wheeler has been a member of the Jets since 2011, dating back to when they were the Atlanta Thrashers, and holds the franchise records for games played, points scored and assists. He served as team captain for six seasons until coach Rick Bowness opted not to have a captain last season.

The Jets must pay Wheeler two-thirds of his remaining salary over two years, owing him $2.75 million in 2023-24 and 2024-25. Wheeler entered free agency and signed with the NY Rangers. According to Wheeler’s agent Matt Keator, the winger prefered playing in the Eastern Conference due to less travel and a desire for a new experience. Wheeler is the second core player the Jets have moved out. Earlier this week, Pierre Luc-Dubois was traded to the Los Angeles Kings.

Duchene, 32, like Wheeler, a two-time All-Star, has been with the Predators for four seasons
and is two seasons removed from a 43-goal season. Duchene had 22 goals last season, and Wheeler had 16. Duchene, 32, signed a seven-year $56 million deal in 2019. He has scored 84 goals and 113 assists in 249 regular-season games, with 43 goals in the 2021-22 season. The move gives the Predators $24.2 million in cap space for free agency.

Duchene landed with the Dallas Stars on a one-year, $3 million deal, per Pierre LeBrun.

If an NHL player is 26 or older, a team can buy out their contract for two-thirds of the remaining amount. If the player is younger than 26, the team can buy out the contract for one-third of the remaining amount. The buyout amount is spread over twice the years left on the contract. Signing bonuses are not included in the buyout. The team’s cap hit consists of the buyout amount for each year.

For example, Wheeler has one year left on his contract at $8.25 million, and his buyout amount is $5.5 million, spread over two seasons. Duchene has three years left on his contract at $20 million, with a $8 million cap hit, and $6 million is in signing bonuses. His buyout amount is $9,333,333, which is spread over six seasons.

It’s important to note that there will be a cap hit of over $5.5 million in 2024-25 and over $6.5 million in 2025-26. Defenseman Mike Reilly, who is 29 years old and bought out by the Bruins, has one year left on his $4 million contract with a $3 million cap hit. His buyout amount is $1,333,333, spread over two years. Forward Kailer Yamamoto, 24, who the Detroit Red Wings bought out after they acquired him and Klim Kostin from Edmonton in a cap dump, has one year left on his $3.2 million contract with a $3.1 million cap hit. His buyout amount is $1,066,667 over two years.

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