So it's pretty clear the fans, media, coach and the org seems to have ran out of patience with virtanen. 1 pt in 15 games, nvm the point totals but his lack of effort, and dumb penalties etc.
Benning should know that he fucked up by signing him now, so he should man up and buy him out if he is in a tough spot trying to sign Petey, Hughes, and Demko end of this season. Even though it will look bad for buying a player out just months after signing him lolol. At this point, it won't even matter since everyone knows he has made several bad contract signings and decisions anyway.
Other teams may believe his stock is all time low and have the canucks add to shed virtanens cap. However he's under 26, so that means the cap hit penalty will be only 50k for next season, then 500k the year after. which is basically nothing. Shedding 2.5mil out of 2.55 is the way to go, no need to add for trades, especially if no other teams wanna give away better bottom 6 players or picks.
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For players 26 years or older, a buyout forces teams to pay two-thirds of the remaining base salary once signing bonuses have been paid in full. So if you buy out a 28-year-0ld defenceman with one year left at a $3 million salary, for example, the club will owe him $2 million spread over two years ($1 million per year).
If the player is younger than 26 at the time of the buyout (like Virtanen would be), then the NHL CBA mandates that the team is only on the hook for one-third of the remaining salary. In Virtanen’s case, his base salary for 2021-22 is $3 million once his $400,000 signing bonus has been paid out. One-third of $3 million means that the Canucks would owe him $1 million split over two years ($500,000 for 2021-22 and 2022-23 respectively).
That $500,000 times two years is the salary the Canucks would owe, but because Virtanen’s contract is backloaded, the cap hit clocks it in at a much lower rate.
To calculate the buyout cap hit, you start by taking Virtanen’s original cap hit ($2.55 million) and subtract the original base salary ($3 million), which amounts to negative-$450,000. That number gets added to the buyout salary ($500,000) and you have your hit of $50,000 — that’s how much he would cost against the cap in 2021-22.
In essence, this means that a Virtanen buyout would clear $2.5 million of his original $2.55 million cap hit. He would cost $500,000 the year after in 2022-23, so that’s the crucial consideration, but when you look at the Canucks’ roster they need the flexibility in 2021-22 far more than they need it in 2022-23.
This post was edited by Secksii on Feb 19 2021 05:20am