Confirmed Buy-Out Virtanen on unconditional Waivers [Cleared; bought out]

[Mike Jones]

This must be a part of the buyout process.

Click to read more...

 

[golffuul]

Or it could be a breach of contract due to his legal mess and this is for termination.

 

[Baby Pettersson]

Smell ya never.

 

[trellaine201]

I am guessing Bergevin picks him up.

 

[Billy Kvcmu]

Hey Bergervin
Sign him

For outsiders:
He was involved in a sexual allegation earlier this year and we haven’t heard any update since then.

 

[Bizzare]

Or it could be a breach of contract due to his legal mess and this is for termination.

Hopefully… but unlikely. I mean.. I don’t know if hopefully is the right word as then it’s more likely something horrendous happened.

 

[Taluss]

Nothing finished with the legal situation? Yeah I can't see a claim or anyone interested until thats sorted

 

[Mike Jones]

Hopefully… but unlikely. I mean.. I don’t know if hopefully is the right word as then it’s more likely something horrendous happened.

Like his play at right wing?

 

[Three On Zero]

Unconditional for purpose of buy out

 

[Wreckus]

It's a buyout.

 

[Mrfenn92]

Canucks won’t miss him

 

[Three On Zero]

Canucks won’t miss him

The saga of shotgun Jake is over, good riddance

 

[K Fleur]

 

[LEAFANFORLIFE23]

Hey Bergervin
Sign him

For outsiders:
He was involved in a sexual allegation earlier this year and we haven’t heard any update since then.

I might be thinking of somebody else but I thought the allegation was dropped

 

[rt]

Bienvenue à Montreal!

 

[LEAFANFORLIFE23]

It's a buyout.

only 50K this year? wow

 

[IranCondraAffair]

Virtanen has one of the best buyouts in the league. The allegation cost him 2M easily.

He's made around 7M so far, but between taxes, agents, expenses, partying, etc.. he might only have 1-2M left and his career might be over.

 

[trellaine201]

Financially how do the Canucks come ahead? I thought buyouts were a penalty financially? How do they get $2.5M in cap savings next year?

 

[Tender Rip]

I dont really think it would work splendidly, but if Virtanen is cheap on his next deal, I hope Pens give it a 1-year try.

He is too dumb to be very good, but maybe he doesn’t know that and proceeds to do fairly well.

 

[Erep]

Financially how do the Canucks come ahead? I thought buyouts were a penalty financially? How do they get $2.5M in cap savings next year?

It is a penalty financially relative to getting out of the contract for free. But, it is (usually) less than the contract would be if he played. So they pay 50k, which is 2.5m less than his salary would have been.

 

[BrilliantBroReferee]

professional athlete He looks like a guy who just raided an ice cream truck

 

[Anaheim4ever]

Financially how do the Canucks come ahead? I thought buyouts were a penalty financially? How do they get $2.5M in cap savings next year?

He probably ends up in Russia as Voynov's teammate.

 

[Chrispy]

Financially how do the Canucks come ahead? I thought buyouts were a penalty financially? How do they get $2.5M in cap savings next year?

When a team frontloads a contract for salary, they pay a penalty on a buyout to make up for the cap advantage they took earlier.

Virtanen's contract was back-loaded, so Vancouver paid him only $1.7M in salary on a $2.55M cap hit last season. This gives them a discount on Virtanen's cap hit for 21-22, so it's only a $50,000 cap hit for this coming season.

 

[Jannik Hansen]

Good riddance

 

[Treb]

I see I'm already too late to remind people that there is a difference between sexual assault and defamation/offensive pornography.

Both are bad, but one is a lot worse than the other.