Let the Buy Outs Begin

Cristobal Huet #38 of the Chicago Blackhawks keeps his eyes on the puck as he makes a glove save against the Columbus Blue Jackets on December 14, 2008 at the United Center in Chicago, Illinois. The Blackhawks defeated the Blue Jackets 3-1. (Photo by Jonathan Daniel/Getty Images) *** Local Caption *** Cristobal Huet

Beginning today, NHL teams can buy out the contracts of players that they don’t want. Players who are over 26 years old can be bought out for two thirds of their contract, while younger ones can be for one third. In both instances, teams have double the amount of time remaining on the player’s contract to spread out the cap hit. Meaning if a player is bought out with two years left on his deal, the team can spread the cap hit over four years.

Rumours of Hawks backup Cristobal Huet being either bought out or buried in the minors have been swirling since they hoisted the Cup last Wednesday.

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