BUFFALO, N.Y. (WIVB) — Ville Leino cleared waivers Wednesday, clearing the way for the Buffalo Sabres to use one of their compliance buyouts on the forward.
Each team is allowed two compliance buyouts, according to the terms of the latest NHL Collective Bargaining Agreement. Teams can buy out the remaining years of a contract for 2/3 the remaining value, with none of that money counting against the salary cap.
While the move frees up cap room, it also means the Sabres have quite a bit of money to spend this offseason in order to reach the NHL’s salary floor. According to capgeek.com, the Sabres have to spend more than $18 million to get to the league minimum for 2014-15.
Leino will hit free agency, once the buyout is complete. His agent told News 4 Sports yesterday, his first priority is to catch on with another NHL club.