Saturday, June 10, 2006

Report: Domi to be bought out

UPDATED

It's not often you see news break late on a Friday night, but The Score reported tonight that the Toronto Maple Leafs will buyout Tie Domi:
The Toronto Maple Leafs plan to buy out the contract of veteran winger Tie Domi, The Score Television Network reported late yesterday. A member of the Maple Leafs since the 1994-95 season, Domi has one year remaining on a two-year, $2.5-million (U.S.) contract he signed in August of 2005.

Under the National Hockey League's new collective labour agreement, he would be owed two-thirds of his remaining salary — $833,000 (U.S.) — and the buyout amount would count against the Leafs' salary cap for the 2006-07 season.
The Toronto Sun's Steve Simmons addressed this possibility earlier this week, saying essentially that it would cost Toronto more to buy Domi out than to keep him.

Just as a note, the NHL's buyout period begins on June 15 (later if the finals extent past that date) and continues until June 30. Consider the Boston Bruins Alexei Zhamnov an excellent candidate to also get his walking papers.

4 Comments:

At 5:03 PM, June 10, 2006, Anonymous Rand said...

Simmons math is a little off, the buyout would be spread over two years so the cap cost would be $416,500 for each of the next two seasons.

Domi's cap cost is 1.25M, so hypthetically Toronto could afford the buyout + a player at $833,500 and come out even with Domi's cost.

Now whether Toronto feels they can get a better player at $833,500 is another question but the option is certainly there.

 
At 5:55 PM, June 10, 2006, Anonymous Ben said...

By the Boston Bruins, are you thinking the whole team, or one player in particular? I'm assuming you're talking about Zhamnov.

 
At 6:01 PM, June 10, 2006, Blogger James Mirtle said...

Fixed — thanks.

 
At 3:43 AM, June 11, 2006, Anonymous jon said...

I see this as a good sign (or a bad sign, depending on where you are in Canada), as it might actually indicate that the Leafs are serious about winning and are willing to make the right choices to do so. As an example, the right choice would be not signing 41 year old goaltenders to multi-year contracts.

 

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