With the NHL buyout window set to open no later than 48 hours after the Stanley Cup Final ends, teams are already mapping out cap relief. Carolina’s problem with Jesperi Kotkaniemi, the Islanders’ January acquisition Ryan Palat facing mismatch, Buffalo’s worri
The Stanley Cup Final still has its grip on the NHL, but the math is already creeping in for 30 teams waiting for the next phase. If you’re trying to create cap space without blowing up your roster, a buyout can look like a lifeline—just one with strict timing and real consequences.
The buyout window opens either on June 15 or 48 hours after the end of the Stanley Cup Final, whichever comes later. Since there’s expected to be at least a Game 6 on Sunday, June 14, teams can officially begin buyouts 48 hours after the Cup is handed out, continuing up until June 30.
The rules decide how painful the decision will be. If a player is 26 or older, the buyout cost is two-thirds of the remaining base salary. If a player is 25 or under, the buyout cost is one-third of the remaining base salary. The buyout length is twice as long as the player’s contract—so if a team buys out someone with two years left. it carries a cap hit for four more years. And for each remaining year on the player’s contract. the cap savings are calculated by subtracting the projected buyout cap hit from the player’s original cap hit. For seasons after the original contract would have ended. the cap savings equal the negative amount of the annual buyout cost.
Teams ultimately have to decide whether the savings are worth the long tail, and the examples being discussed this week show how quickly a “flexibility move” can turn into a years-long commitment.
Carolina’s Jesperi Kotkaniemi is at the center of one of the sharper debates. The Hurricanes signed Kotkaniemi to an offer sheet in 2021 for one year at $6.1 million. which the Montreal Canadiens opted not to match. The underlying storyline in Carolina is that the Hurricanes may have been chasing a past wrong after Montreal inked Sebastian Aho to an offer sheet in 2019—something Carolina ultimately matched—though the argument has plenty of room for doubt. What can’t be ignored is the production problem that has followed Kotkaniemi in Carolina.
During his tenure with the Hurricanes, Kotkaniemi has reached 40 points just once, and on three occasions he finished below 30 points. This season, he ended with two goals and nine points in 42 games. He was also a frequent scratch and did not appear in a game during Carolina’s playoff run. Mark Jankowski has supplanted Kotkaniemi as the fourth-line center. and Jankowski is still under contract for two more years at a much lower price.
Carolina doesn’t have to be forced into anything. The Hurricanes have nearly $12 million in cap space heading into the summer with most of their key players locked up. Still, a buyout would change the complexion of their summer flexibility. The suggested savings from a buyout would be nearly $4 million next season and $4.3 million for the three years after that. Kotkaniemi would have a cap charge of $850. 000 for the four years after that. but the calculation is that it would be a manageable drop given where the cap is headed over the next few seasons.
Kotkaniemi will turn 26 in July, which keeps open the possibility that another team might take a chance on him via trade. But if Carolina can’t move him—and feels it needs the cap space for another transaction—a buyout remains a realistic option.
The Islanders’ Ryan Palat represents a different kind of mismatch: the contract still looks substantial, while the production since his arrival has not matched it. New York acquired Palat in January, but his cap number no longer fits his output. The Islanders forward is due $6 million next season.
After joining the Islanders. Palat recorded just one goal in 29 games and averaged less than 13 minutes of ice time per game. At 35 years old. and with a track record that hasn’t shown explosive scoring since. the concern is plain: he hasn’t scored more than 31 points in any of the past four seasons.
If New York bought Palat out. it would save $3.3 million next season and carry only a $1.6 million cap hit for the following year. Palat would be completely off the Islanders’ books after that. But the Islanders’ summer planning isn’t only about one player. Coach Peter DeBoer is set to put his fingerprints on the roster. and New York may need to find answers around the aging core.
Questions hover over the blue line with 33-year-old Scott Mayfield—do the Isles need an upgrade?. The roster puzzle gets tougher if Anders Lee hits the open market. And then there’s goaltending: New York may need help easing Ilya Sorokin’s workload after Sorokin started 14 straight games down the stretch because the Islanders didn’t have a secondary option they trusted.
Put simply, there won’t be a line of teams trying to add a late-30s player with minimal production. That’s why the Islanders might have to consider a buyout if shedding Palat’s salary becomes urgent.
Buffalo’s Jordan Greenway case points to how quickly a contract can start feeling expensive when the goals don’t show up. The Sabres were hoping the 10 goals Greenway scored in 67 games two years ago would become a regular pattern. Instead, the scoring has faded. Greenway scored just three goals last season and found the back of the net only once in 2025-26.
It’s not just the offense, but offense is the part Buffalo can’t ignore, especially with Greenway making $4 million. The pressure intensifies because Buffalo’s summer isn’t wide open. The Sabres have to navigate extensions for Zach Benson and Peyton Krebs, which will cut into its cap space. Benson’s new deal could be a sizeable number too. and his post-season breakout—five goals and nine points in 13 games—adds to the expectation that it won’t be cheap.
Buffalo also has to make a decision on Michael Kesselring. Kesselring was the odd man out in the playoffs but is still a restricted free agent. Then there’s Alex Tuch, who figures to command a massive contract. Free agency is described as very thin this year, and Tuch is framed as arguably the best player available. If the Sabres want to keep him, they’re going to have to pay up.
That creates a straightforward cap squeeze where a buyout could become the difference between signing Tuch and staying flexible. The Sabres would save almost $2.7 million if they bought out Greenway and would have minimal payment for 2027-28 if they wanted to clear him off the books. If Buffalo manages to re-sign Tuch, the argument is that Greenway could become one of the casualties.
Montreal’s Brendan Gallagher is the most personal of these scenarios. because the story isn’t just about cap space—it’s about a career chapter ending in a way the team likely didn’t want. The Canadiens, as described through the post-season exit, have moved on from Gallagher. After Gallagher’s end-of-season interview made it clear he won’t be returning to Montreal next season. the question becomes how it plays out.
Ideally, Montreal would like to trade Gallagher, but that’s easier said than done. He just turned 34, scored only seven times this season, and played only three games during Montreal’s playoff run.
A Vancouver connection exists, but it isn’t automatic. The Vancouver Canucks could make some sense for Gallagher. as could any rebuilding team looking for an experienced leader to set a good example for young players on how to be professionals. Gallagher spent part of his childhood in Vancouver and played for the Giants in junior, which keeps that link strong. But the decision-making structure in Vancouver matters too. Ryan Johnson has taken over running the team. and he’ll have to decide how he wants the roster to shape up for first-year head coach Manny Malhotra.
If Montreal buys out Gallagher, he’d get to choose his next destination, opening the door for contending teams. Those teams could then pursue Gallagher for a depth role at a much better price than the $6.5 million he’s making now. The buyout would also open $2.6 million in cap space for Montreal next season.
A buyout isn’t how Gallagher and the Canadiens wanted things to end. But it could still become the best path forward for both sides, once the cap realities and roster needs are fully lined up.
All buyout calculations referenced here are courtesy of PuckPedia.
NHL buyout Stanley Cup Final cap space Jesperi Kotkaniemi Ryan Palat Jordan Greenway Brendan Gallagher Carolina Hurricanes Vegas Golden Knights New York Islanders Buffalo Sabres Montreal Canadiens