The Minnesota Wild are buying out both Zach Parise and Ryan Suter
@Ryan Suter and @Zach Parise signed matching 13-year contracts with the Minnesota Wild back on July 4, 2012. Nearly a decade later, both of those contracts will come to an end with matching buyouts.
This is a whopper. For #mnwild, clears out $10 million in space for upcoming season, but only kicks the can down the road. Huge dead cap space hole two seasons from now ($13m) and nearly $15m three and four seasons from now. https://t.co/ALnDNnKg4D
— Frank Seravalli (@frank_seravalli) July 13, 2021
Both Parise and Suter have four years left on their contracts with matching $7,538,461 cap hits. When bought out, these buyouts will cost the Wild $2,371,794 in 2021-22, $6,371,794 in 2022-23, $7,371,794 in 2023-24 and 2024-25, and $833,333 from 2025-26 through 2028-29.
That ultimately means roughly a $10,000,000 savings in 2021-22, a slight savings in the three years after that, and then a $833,333 hit in four seasons after the deals would have ended.
With 4 years @ $7.54M Cap Hit remaining, Parise/Suter #MNWILD buyout cap hits:
Yr 1 $2.37M Hit & $5.17M saved
Yr 2 $6.37M Hit & $1.17M saved
Yr 3/4 $7.37M Hit & $167K saved
Yr 5-8 $833K Hithttps://t.co/SL4Q0CzYf4https://t.co/yLYVicc2xM https://t.co/bM3ema0P4w pic.twitter.com/xY5HjTaiwt
— PuckPedia (@PuckPedia) July 13, 2021
Buying out Parise is no shock as he’s coming off of a season in which he scored just 18 points over the course of 45 games. Suter is a little more surprising as he was an effective defender for the Wild in 2021, logging 22:11 per game with a 56-to-48 on-ice goal differential at even-strength.
But this move gives Minnesota both flexibility when it comes to signing players this summer and at the Expansion Draft. Both Parise and Suter had no-movement clauses on their deals and would have had to waive them in order to be exposed to Seattle. The Wild will now be able to prospect important names such as @Matt Dumba without any issue.
The Wild will need to re-sign Calder Trophy winner @Kirill Kaprizov this summer but it’ll be interesting to see how they utilize this cap room. It would mean that the team is in the mix to make a big run at @Jack Eichel.