Compliance buyout

Compliance buyouts (sometimes referred to as amnesty buyouts) allow National Hockey League teams to buy-out a player's contract by paying him two-thirds of the remaining value of a contract over twice the remaining length of the contract. If the player is under 26 years old, then the team may pay the player just one-third of the remaining contract value.NHL's compliance buyouts are similar to NBA's amnesty concept In ordinary-course buyouts the team's NHL salary cap hit for the player is stretched over a period of twice the remaining length of the contract. Compliance buyouts follow the same formula as ordinary-course buyouts but do not count against the cap. 
Due to the 2012–13 NHL lockout, the salary cap was not to increase to the projected $70.2 million, so each team was therefore granted two compliance buyouts to be exercised after the 2012–13 season and/or after the 2013–14 season that would not count against the salary cap in any further year in order to better comply with a lower than expected cap value, regardless of the player's age. After using an compliance buyout on a player, that player is prohibited from rejoining the team that bought him out for one year; the NHL deemed that the re-signing of a player following a trade and a subsequent compliance buyout would be ruled as cap circumvention.Larry Brooks: NHL deems re-signing players following a trade and subsequent amnesty buyout as circumvention of collective bargaining agreement - NYPOST.com
Following the 2012–13 NHL lockout each team was granted one accelerated compliance buyout in order for teams to meet the lowered salary cap. This could be used on a player with a salary cap hit of $3 million U.S. or more before the regular season began. If an accelerated compliance buyout is used, that team will only have one more compliance buyout left, and they must use it after the completion of the 2012-13 season (and before the start of 2013-14 season). The player's cap hit is applied in full to the team's salary cap for the 2012-13 season, but for no season after, regardless of contract length.
Available during the off-season in 2013 and 2014, amnesty buyouts begin 48 hours after the conclusion of the Stanley Cup Finals. 
In 2013, it began 48 hours after the conclusion of the Stanley Cup, and ended on July 4, 2013. The second NHL compliance buyout period opened on June 16, 2014 and runs through June 30, 2014, with 26 teams having one or more compliance buyout available to be used.http://www.usatoday.com/story/sports/nhl/2014/06/15/nhl-compliance-buyouts-preview/10553419/
==List of compliance buyouts==
The following is an unofficial list of all the compliance buyouts that have been used:http://www.tsn.ca/nhl/feature/?id=99026http://www.sportsnet.ca/hockey/nhl/countdown-to-nhl-buyout-season-what-we-know/
Team 	Player	Date	Length 	Amount 	References
Buffalo Sabres 	 	 	years 	$7,333,333 	http://www.nhl.com/ice/news.htm?id=722919
Buffalo Sabres 	 	 	14 years	$12,000,000	http://www.tsn.ca/nhl/story/?id=455997
Calgary Flames 	 	 	years 	$1,466,667 	http://www.tsn.ca/nhl/story/?id=456069
Chicago Blackhawks 	 	 	years 	$2,733,333 	http://espn.go.com/chicago/nhl/story/_/id/9429042/steve-montador-rostislav-olesz-bought-chicago-blackhawks
Chicago Blackhawks 	 	 	years 	$2,833,333 	http://www.nhl.com/ice/news.htm?id=675474
Dallas Stars 	 	 	years 	$1,066,667 	http://www.nhl.com/ice/news.htm?id=722818
Detroit Red Wings 	 	 	years 	$1,900,000 	http://www.usatoday.com/story/sports/nhl/wings/2013/07/03/carlo-colaiacovo-buyout-red-wings/2486911/
Detroit Red Wings 	 	 	years 	$1,333,333 	
Edmonton Oilers 	 	 	years 	$833,333 	http://oilonwhyte.com/2013/07/04/oilers-waive-eric-belanger-will-use-compliance-buyout/
Florida Panthers 	 	 	years 	$2,666,667 	http://panthers.nhl.com/club/news.htm?id=724649
Minnesota Wild 	 	 	years 	$2,000,000 	http://wild.nhl.com/club/news.htm?id=676371
Montreal Canadiens 	1 	 	years 	$3,000,000 	http://www.sbnation.com/nhl/2013/1/15/3879834/nhl-compliance-buyouts-2013-scott-gomez-wade-redden
Montreal Canadiens 	 	 	years 	$3,000,000 	http://canadiens.nhl.com/club/news.htm?id=675543
New Jersey Devils 	 	 	years 	$933,333 	http://www.nhl.com/ice/news.htm?id=676559
New Jersey Devils 	 	 	years 	$5,666,667 	
New York Islanders 	 	 	16 years	$24,000,000	http://www.nhl.com/ice/news.htm?id=676367
New York Rangers 	1 	 	years 	$3,333,333 	http://www.cbc.ca/sports/hockey/nhl/rangers-buy-out-wade-redden-s-contract-1.1340329
New York Rangers 	 	 	12 years	$20,666,667	http://www.usatoday.com/story/sports/nhl/rangers/2014/06/20/brad-richards-new-york-buyout/11089883/
Philadelphia Flyers	 	 	years 	$3,333,333 	http://www.tsn.ca/nhl/story/?id=425925
Philadelphia Flyers	 	 	14 years	$23,000,000	http://www.nhl.com/ice/news.htm?id=675174
San Jose Sharks 	 	 	years 	$4,000,000 	http://www.sportsnet.ca/hockey/nhl/san-jose-sharks-using-buyout-on-martin-havlat/
Tampa Bay Lightning	 	 	14 years	$32,666,667	http://www.tsn.ca/nhl/story/?id=426423
Tampa Bay Lightning	 	 	years 	$1,666,667 	
Toronto Maple Leafs	 	 	years 	$2,333,333 	http://www.cbc.ca/sports/hockey/nhl/maple-leafs-use-compliance-buyout-on-mike-komisarek-1.1367941
Toronto Maple Leafs	 	 	years 	$14,333,333	http://www.nhl.com/ice/news.htm?id=676521
Vancouver Canucks 	 	 	years 	$5,600,000 	http://prohockeytalk.nbcsports.com/2013/07/03/canucks-inform-ballard-that-contract-will-be-bought-out/
Vancouver Canucks 	 	 	years 	$3,166,667 	
Washington Capitals	 	 	years 	$2,000,000 	http://www.washingtonpost.com/blogs/capitals-insider/wp/2013/07/03/capitals-buy-out-jeff-schultz/
; Notes
# Accelerated compliance buyout
==References==
*NHL Collective Bargaining Agreement reference: Section 50.5 (c-iii-A )(P. 205-208)
Category:National Hockey League