A few years ago there was a time where NHL teams were allowed to use buyouts without the player’s salary counting against their cap hit. In today’s NHL that no longer exists, but teams are still allowed to buyout a player’s contract. Below is an explanation from Tom Gulitti of how the NHL’s buyout process works and what the New Jersey Devils would have to deal with if they decided to buyout one or two players this off-season.
“Teams can buy out two players per off-season at two-thirds the total remaining value on the contract spread out over twice the remaining years.