One of the oft-overlooked benefits of heading to arbitration with a player is some potential additional salary cap flexibility in the form of a second buyout. It’s a window granted to teams for a 48-hour period beginning three days after they settle their last arbitration case. The Seattle Kraken did so with defenseman Vince Dunn today, inking him to a rather significant four-year, $29.4MM pact.
A rather obvious candidate for a buyout on the Kraken is netminder Chris Driedger, who the team was aggressively trying to shop earlier this summer. He missed most of the season with injury and couldn’t work his way back into the Kraken lineup when healthy, instead playing 14 games for the AHL’s Coachella Valley Firebirds and slipping to fourth on the team’s goalie depth chart. He didn’t see a single second of action in the Firebirds’ run to Game 7 of the Calder Cup Final in their first season.
He’s third now with the departure of Martin Jones in free agency, but his $3.5MM cap hit is incredibly steep for a third-string netminder. However, Seattle will not be able to use a buyout on Driedger – players bought out during the conditional second window must have a cap hit of at least $4MM (and have been on the team’s reserve list at the prior season’s trade deadline).
It leaves Seattle with no other likely buyout options in the second window, so don’t expect them to take advantage of that early next week. The Kraken are now within $2MM of the salary cap’s $83.5MM Upper Limit after signing Dunn, a testament to the team’s quick rise to relevance with a payroll that reflects it.
The team will likely continue its attempts to move Driedger as the season draws nigh, as even getting rid of him at 50% salary retention is preferable to burying him in the minors, which would only bring his cap hit down to $2.35MM.
Philadelphia is the only team to utilize its post-arbitration buyout window this offseason, parting ways with defenseman Tony DeAngelo and the final season of a two-year, $10MM contract last week.