BREAKING: Boston Bruins Prepared to Terminate Player's Contract with Buyout

Austin Sabourin
June 15, 2023  (4:34)

The Boston Bruins face a critical decision concerning the future of defenseman Mike Reilly as the NHL officially opens the buyout window for the 2023 season. Commencing on Friday and concluding on June 30 at 5 p.m. ET, this window provides the Bruins with a limited timeframe to assess their options. Simultaneously, the anticipation builds for the onset of unrestricted free agency, scheduled to begin at noon the following day.

Last year, Reilly inked a three-year, $9 million contract with the Bruins, expecting a promising tenure with the team. However, the trajectory quickly shifted for the 29-year-old defenseman. His performance declined, subsequently making him a potential buyout candidate. Reilly faced waivers twice and found himself on the NHL trade market. Despite the diligent efforts of general manager Don Sweeney to facilitate a move involving Reilly and other contracts, no team has expressed interest thus far. Consequently, Reilly spent a significant portion of the season playing 36 games for the Providence Bruins in the AHL after featuring in just ten games for the Boston Bruins.
With the upcoming 2023-24 NHL season and the need to construct a cap-compliant roster, Sweeney is actively exploring avenues to part ways with Reilly. If the Bruins opt for a buyout, the process adheres to the guidelines outlined by PuckPedia.
For players aged 26 or older, the buyout amount equates to two-thirds of the remaining salary owed on the contract. Meanwhile, for players under 26, the buyout amount stands at one-third of the remaining salary owed on the contract.
Furthermore, the buyout is distributed over a duration twice as long as the remaining years of the contract. Notably, signing bonuses are excluded when calculating the buyout amount and cap hit.
Using the PuckPedia Buyout Calculator, analysts estimate that Reilly's total buyout cost would reach $2.6 million. With one year remaining on his contract, the buyout would be distributed over two years, resulting in an average annual value (AAV) of $1.3 million.
As seen on: Bostonhockeynow
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BREAKING: Boston Bruins Prepared to Terminate Player's Contract with Buyout

Will the Bruins buyout Mike Reilly?

Yes4588.2 %
No611.8 %
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