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Jared Cowen on waivers for purpose of a buyout

I'm surprised they're doing this right away, like Misty said in the other thread no real harm and waiting to see if anything shakes out. But I guess at this point they've probably spoken to everybody and nobody is really interested.
 
CarltonTheBear said:
I'm surprised they're doing this right away, like Misty said in the other thread no real harm and waiting to see if anything shakes out. But I guess at this point they've probably spoken to everybody and nobody is really interested.
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Possibly, or a few teams are waiting to see on some other deals, so the Leafs are just dealing with the formality of this part of the process. This would have had to happen regardless, but, assuming no deal is made between now and noon tomorrow, any team that acquires him can buy him out immediately.
 
How does the process work? When you put the player on waivers for purposes of buy-out does the buy-out happen automatically when/if he clears waivers, or can they hold off on the actual buyout until later?

The only things that come to mind would be if the Leafs are a bit tight on the 50-contract limit and need to free up a slot to make room somewhere else; or maybe when Cowen arrived Lou assured him that he'd be bought out as soon as possible to give him extra opportunity to begin looking for a new team elsewhere to perhaps find a spot prior to the flood of July 1st free agency.
 
Misty said:
How does the process work? When you put the player on waivers for purposes of buy-out does the buy-out happen automatically when/if he clears waivers, or can they hold off on the actual buyout until later?
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It's not automatic, no. Clearing waivers is just part of the process. They have until the end of the buyout window to formalize the buyout.
 
I really thought a team, up against the Cap, would offer the Leafs something like a 7th round draft pick to use the special buyout on Cowen.  Oh well!
 
bustaheims said:
Misty said:
How does the process work? When you put the player on waivers for purposes of buy-out does the buy-out happen automatically when/if he clears waivers, or can they hold off on the actual buyout until later?
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It's not automatic, no. Clearing waivers is just part of the process. They have until the end of the buyout window to formalize the buyout.
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Thanks. So that doesn't in any way affect the potential of the Leafs just sitting on it now until the end of the month and they can still trade him to another team. I guess, if anything, that makes it even easier to do a trade since the acquiring team could then immediately buy him out the instant the trade is formalized.
 
Misty said:
Thanks. So that doesn't in any way affect the potential of the Leafs just sitting on it now until the end of the month and they can still trade him to another team. I guess, if anything, that makes it even easier to do a trade since the acquiring team could then immediately buy him out the instant the trade is formalized.
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Yup. We'll have a much clearer idea of the plan with Cowen this time tomorrow. If they buy him out right away, they obviously couldn't find a trade to their liking (or weren't ever that interested in one), and, if they don't, we can probably safely assume they're at least talking to other teams about trades he's involved in.
 
bustaheims said:
Misty said:
Thanks. So that doesn't in any way affect the potential of the Leafs just sitting on it now until the end of the month and they can still trade him to another team. I guess, if anything, that makes it even easier to do a trade since the acquiring team could then immediately buy him out the instant the trade is formalized.
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Yup. We'll have a much clearer idea of the plan with Cowen this time tomorrow. If they buy him out right away, they obviously couldn't find a trade to their liking (or weren't ever that interested in one), and, if they don't, we can probably safely assume they're at least talking to other teams about trades he's involved in.
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Or they just want the cap credit all to themselves.  I can't imagine why.  ;)
 
TBLeafer said:
Or they just want the cap credit all to themselves.  I can't imagine why.  ;)
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The cap credit is a pretty minor thing, really. It's $650K - basically, it's space for a guy at the league minimum. For a team that's not anywhere near the cap ceiling right now - and one with a strong possibility of not getting there at all this season - it doesn't hold a lot of value. Getting rid of Cowen's cap hit and contract are what have real value to the Leafs. It's what it means as a "get out of jail free" card to teams near the ceiling that give it some value.
 
bustaheims said:
TBLeafer said:
Or they just want the cap credit all to themselves.  I can't imagine why.  ;)
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The cap credit is a pretty minor thing, really. It's $650K - basically, it's space for a guy at the league minimum. For a team that's not anywhere near the cap ceiling right now - and one with a strong possibility of not getting there at all this season - it doesn't hold a lot of value. Getting rid of Cowen's cap hit and contract are what have real value to the Leafs. It's what it means as a "get out of jail free" card to teams near the ceiling that give it some value.
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Or it gives you an extra $650K of bargaining room to sign your next big contract, if that's what you're after.
 
I think that we often forget too that there's a 2nd year of Cowen's buyout, which carries a $750k cap HIT. Teams that are close to the cap this coming season probably expect to be close again the season after that, so it might not really be worth it to them.
 
TBLeafer said:
Or it gives you an extra $650K of bargaining room to sign your next big contract, if that's what you're after.
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With a $750K penalty next season, which causes a problem if you're using the credit for that purpose. It's a single year solution, not something you use as part of long-term planning.
 
CarltonTheBear said:
I think that we often forget too that there's a 2nd year of Cowen's buyout, which carries a $750k cap HIT. Teams that are close to the cap this coming season probably expect to be close again the season after that, so it might not really be worth it to them.
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Yet all it means for us is a difference of $100K.

Especially with more contracts clearing after this season.
 
bustaheims said:
TBLeafer said:
Or it gives you an extra $650K of bargaining room to sign your next big contract, if that's what you're after.
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With a $750K penalty next season, which causes a problem if you're using the credit for that purpose. It's a single year solution, not something you use as part of long-term planning.
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It doesn't create a problem at all when you have far more than that clearing at the end of next season and oodles of room beyond $750 with no big contracts that you want to keep coming due unless Bernier dazzles.
 
CarltonTheBear said:
I think that we often forget too that there's a 2nd year of Cowen's buyout, which carries a $750k cap HIT. Teams that are close to the cap this coming season probably expect to be close again the season after that, so it might not really be worth it to them.
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Yeah, maybe. It certainly would be more appealing to teams with expiring contracts they don't mind walking away from at the end of next season, but don't want to lose that player now, or a team who is really in a bind right now, and feels they'll be able to figure something out for 17/18.
 
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