Found July 03, 2013 on
Fox Sports North:
ST. PAUL, Minn. -- The Minnesota Wild were strapped for cash with the NHL salary cap decreasing to 64.3 million this season and it cost the team defenseman Tom Gilbert.
Minnesota announced Wednesday that it placed Gilbert, who had three goals and 10 assists last season, on unconditional waivers for the purpose of buying out Gilbert's remaining two years of his contract. Gilbert was scheduled to make 6.5 million over the next two seasons and carried a cap hit of 4 million each year.
"Due to the NHL salary cap decreasing this season, we needed to make this difficult decision to give the team more flexibility," Wild general manager Chuck Fletcher said in a release. "We thank Tom for his time with the Wild and wish him the best going forward."
Minnesota was left with just over 2.4million in salary-cap space after trading for Nino Niederreiter during the draft on Sunday. If Gilbert clears waivers, the buyout will save the Wild all 4 million against the cap, giving the team about 6.4 million to use when free agency opens on July 5.
In the new collective bargaining agreement, each NHL team was given two compliance buyouts to use over the next two offseasons to adjust to the changing salary cap. Minnesota will still pay Gilbert, but won't be charged against the salary cap. Gilbert is the first compliance buyout for the Wild, which still owes Mark Parrish 927,778 against the cap this season for a previous buyout.
Gilbert was acquired from the Edmonton Oilers for Nick Schultz at the trade deadline in 2012. He scored three goals and 15 assists in 63 games for Minnesota over the past two seasons. Gilbert was a minus-11 last season and was even a healthy scratch at times for the Wild.
If Gilbert clears waivers and is bought out, he can't re-sign with Minnesota for at least one year.
The Wild still have to sign restricted free agent defenseman Jared Spurgeon, who the team made a qualifying offer to this week. Minnesota will likely be looking at defensemen in free agency too, after releasing Gilbert. The Wild currently has six defensemen on the roster with Ryan Suter, Jonas Brodin, Marco Scandella, Clayton Stoner and Nate Prosser, along with Spurgeon.
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The Minnesota Wild have waived defenseman Tom Gilbert.
The team announced the move Wednesday. The 30-year-old Gilbert had one season left on his contract for $3 million.
If he goes unclaimed by another team, the Wild will use one of their two available compliance buyouts to keep Gilbert's money from counting against their salary cap. He would then become an unrestricted free...
ST. PAUL, Minn. -- Minnesota Wild general manager Chuck Fletcher played a big game of poker in free agency last summer, ultimately coming away with a full house by signing Zach Parise and Ryan Suter, the two biggest names on the market.Fletcher, with a reshaped roster in part because of those two signings, is looking at a much different game this summer with free agency starting...
ST. PAUL, Minn. -- The Minnesota Wild will keep defenseman Jared Spurgeon and four minor-league players after extending qualifying offers to five restricted free agents.
Spurgeon, 23, is one of Minnesota's top-4 defenseman and paired with Marco Scandella -- who was re-signed earlier this offseason -- during the playoffs. Spurgeon had five goals and 10 assists and was a plus...
ST. PAUL, Minn. -- Ryan Suter missed out on winning the Norris Trophy, given to the NHLs best defenseman, but his first season with the Minnesota Wild was recognized by the leagues writers on Wednesday.Suter, who signed a monumental 13-year, 98 million contract with Minnesota last offseason as the top defensemen available in free agency, was named first-team on the NHLs First All...
The Wild have made qualifying offers to five restricted free agents: defensemen Jared Spurgeon, Tyler Cuma and Kyle Medvec, and right wings Justin Fontaine and Carson McMillan.
The move to retain their rights was made Tuesday. Minnesota did not make a qualifying offer to forwards Joel Broda or Benn Ferriero, making them free agents when the NHL market opens Friday. Ferriero was...
English: Tom Gilbert in 2009. (Photo credit: Wikipedia)
According to Michael Russo, the Minnesota Wild might have found their first candidate for one of the two compliance buyouts. I think it would be a great move. Gilbert was absolutely brutal last season on the blue line for the Minnesota Wild.
Michael Russo, Russo's Rants -- The Wild plans to place Tom Gilbert on...
ST. PAUL, Minn. -- The Minnesota Wild sure know how to celebrate the Fourth of July.
After signing the two biggest free agents on the market, Zach Parise and Ryan Suter, last year on July 4, Minnesota added former University of Minnesota defenseman Keith Ballard on Thursday, according to the team's Twitter account.
Ballard and the Wild agreed to terms on a two-year contract...
This Fourth of July for the Minnesota Wild was a little less eventful than the last.
Still, the Wild made another holiday splash by bringing in more help for their blue line.
The Wild announced Thursday they agreed to terms on a two-year contract with defenseman Keith Ballard, who was available after being let go by Vancouver earlier this week with a compliance buyout to clear...
from Michael Russo of the Star Tribune,
The NHL’s salary cap next year is $64.3 million. The Wild is being hit with a bonus overage of roughly $400,000 for exceeding the cap last year.
That means the Wild’s cap ceiling is about $63.9 million, probably less. Buffalo is picking up roughly $800,000 of Jason Pominville’s salary, but the Wild still has a $927,778 buyout...
PlayerTeamLengthTotal AmountYearly Breakdown
Vincent LecavalierTampa Bay14$32,666,667$1,761,905*
Rick DiPietroNY Islanders16$24,000,000$1,500,000
Every summer, there are always a good handful of players who become unrestricted free agents in late-June after being bought out or not qualified by their respective teams. This happens because these players either want too much money, underperformed relative to their contracts or are let go due to monetary or salary cap reasons. While some of the players who get bought out are just...