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The Vancouver Canucks took advantage of the NHL’s first off-season buyout window in a historic way. Vancouver has bought out veteran defenseman Oliver Ekman-Larsson in a move with drastic consequences in the short and long-term future.
Ekman-Larsson’s buyout is the largest ordinary course buyout in the NHL’s salary cap era, according to Canucks reporter Thomas Drance. It’s not the largest buyout in the cap era, mind you. Just the largest buyout to count against a team’s salary cap.
The total cost of the buyout is a little more than $19 million. That $19 million will be spread out for twice the length of Ekman-Larsson’s contract at the time of the buyout. He had four years on his deal, so the cost of the buyout will count against Vancouver’s cap space for the next eight seasons.
The Canucks are not the only team feeling the effects of this, either. Ekman-Larsson’s former team, the Arizona Coyotes, are also affected by Vancouver’s decision on Friday.
The Coyotes originally signed Ekman-Larsson to the contract Vancouver bought out. Arizona signed the 31-year-old to an eight-year, $66 million contract in 2018. That contract carried full no-movement protection through the entire duration of the deal.
When the Coyotes traded Ekman-Larsson to the Canucks in 2021, they retained some of his salary. As a result, this buyout will also count against their cap for the next eight seasons. Furthermore, the Coyotes will lose one of their three retained salary slots for the next eight seasons.
Oliver Ekman-Larsson’s time in Vancouver simply did not work out. Let’s see if the veteran blueliner can find a home again with another NHL team at some point this summer.
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Courtesy : https://clutchpoints.com/canucks-news-oliver-ekman-larsson-eye-popping-buyout-haunt-vancouver-decade