Senators place Ryan on waivers for purpose of buyout

The Ottawa Senators are moving on from right wing Bobby Ryan. Marc DesRosiers-USA TODAY Sports

Senators place Masterton winner Bobby Ryan on waivers for purpose of buyout

By Erin Walsh | Last updated 9/25/20

Bobby Ryan's tenure with the Ottawa Senators has come to a close after seven seasons. The Senators have placed Ryan on waivers Friday for the purpose of buying out the remainder of his contract.

Ryan was traded to the Senators during the 2013 offseason from the Anaheim Ducks. The forward played 455 games with the Senators, amassing 107 goals and 266 points.

Buying out the final two years of Ryan's contract will spread across Ottawa's cap for the next four seasons.

A Bobby Ryan buyout would have the following cap hit implications for the Ottawa #Senators:

2020-21: $3,583,333 (-3.7M)
2021-22: $3,583,333(-3.7M)
2022-23: $1,833,333 (+1.8M)
2023-24: $1,833,333 (+1.8M)https://t.co/0sV1FpiEDH https://t.co/xK7w5BMkmO
— CapFriendly (@CapFriendly) September 25, 2020

This past season, Ryan took a leave of absence from the Senators to get help for an alcohol problem. He later returned and scored a hat trick in his first home game back on the ice. Ryan was awarded the Masterton Trophy for his efforts.

With the buyout, the remainder of Ryan's contract saves the Senators $3.67 million in cap space, and general manager Pierre Dorion now has plenty of money to spend in free agency in order to retool his roster. Ottawa also has the third and fifth overall picks in this year's draft.

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