The Arizona Coyotes placed forward Michael Grabner on waivers for the purpose of a buyout Saturday, according to Sportsnet's Elliotte Friedman.
Here's how it breaks down:
The Arizona #Coyotes have placed F Michael Grabner on unconditional waivers for the purpose of a buyout
— CapFriendly (@CapFriendly) October 3, 2020
Buyout cap hit is as follows:
2020-21: $833k
2021-22: $1.25M
The buyout has a smaller cap hit in 2020-21 because the salary was back-loadedhttps://t.co/PqBP4sNMgM pic.twitter.com/mABioyQjYK
Grabner's agent, Jerry Buckley, told NHL Network's Craig Morgan that his client intends to continue playing.
The Austrian-born winger was originally signed through 2020-21 at a cap hit of $3.35 million. It was to be the final season of his three-year, $10.05-million contract he inked with the Coyotes in July 2018.
Grabner, who turns 33 on Monday, spent the last two campaigns with Arizona. He collected only eight goals and 11 points over 46 games in 2019-20.
The 11-year veteran has also played for the New Jersey Devils, New York Rangers, Toronto Maple Leafs, New York Islanders, and the Vancouver Canucks, the club that drafted him 14th overall in 2006.
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