If Arizona Coyotes GM John Chayka is willing to prepare a bounty to acquire the rights of homegrown projected No. 1 draft selection Auston Matthews, it's news to him.

Chayka indicated this week that the Coyotes are unwilling to bundle first-round picks with prospect and budding talents - or any sort of comparable package - in a trade with the Toronto Maple Leafs to acquire the first pick in next week's draft.

"I'm not exactly sure where people come up with this stuff," Chayka said, via Craig Morgan of Arizona Sports. "I personally find some of the reports that are out there are pretty ridiculous speculation."

That, however, doesn't mean Arizona isn't exploring avenues to potentially move out from No. 7.

"We're still just in discussions, whether that means moving up or down, and up doesn't even have to be No. 1," Chayka said.

"What we're really looking at it is does this trade make your team better in the short term and in the long term?"

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Let the buyout season begin.

The Toronto Maple Leafs placed defenseman Jared Cowen on waivers Wednesday for purposes of buying out his contract, TSN's Darren Dreger reports.

Cowen was acquired from the Ottawa Senators in the Dion Phaneuf trade in February, but the blue-liner never played a game for the Maple Leafs.

The 25-year-old had one year and $2.15 million left on his deal, according to General Fanager.

Toronto had been planning to buy him out since the trade. In March, Cowen's agent said his client had six months to get back to being "a good player."

Wednesday marked the start of the NHL's first buyout window, which extends through June 30.

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The Chicago Blackhawks finally shed Bryan Bickell's contract, though it came at a considerable cost.

Bickell and talented young forward Teuvo Teravainen were dealt to the Carolina Hurricanes on Wednesday in exchange for a second-round draft selection in 2016 and a third-round pick in 2017.

The Blackhawks had been exploring opportunities to move Bickell and his eyesore of a contract since not long after he inked his four-year, $16-million extension for a breakout performance in the 2013 Stanley Cup Playoffs.

Bickell racked up just 45 points in three seasons since signing the deal and spent the majority of last season in the American Hockey League, gobbling up a significant portion of the Blackhawks' cap.

Losing Teravainen is no minor consequence, but the 21-year-old Finn didn't catch on with the club's top six as quickly as many anticipated. He contributed 13 goals and 35 points in his first full season in Chicago's top nine.

Carolina maintains six picks in the first three rounds of this upcoming draft, three in the first two rounds in 2017, and has only about $45 million tied up in player contracts for this upcoming season.

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One final "Bonino! Bonino! Bonino!"

Hockey Night in Canada's Punjabi broadcasters, or the men who made the most of Nick Bonino's surname throughout the postseason, met the Pittsburgh Penguins before their Stanley Cup parade on Wednesday.

It didn't take long, of course, before they were encouraged to recreate their genius.

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It might not garner a parade, but the Stanley Cup appears to be on its way back to Toronto.

Phil Kessel says he's strongly considering bringing it to the city this summer when he gets his 24 hours with the trophy.

"I haven't fully decided, but I have a lot of friends in Toronto and that's where I've spent most of my time (in the NHL)," the Pittsburgh Penguins forward told Sportsnet 590 The FAN on Wednesday.

"I probably will end up bringing it back there. Nothing's been decided, but I think there's a good chance that it'll happen."

Kessel spent six tumultuous seasons with the Maple Leafs before being traded to the Penguins last July.

"It's been a whirlwind, a lot of changes in my life, and obviously I wouldn't change this for anything ... it's unbelievable," he said Wednesday.

He notched 10 goals and 22 points in 24 playoff games this spring, and many felt he deserved the Conn Smythe Trophy as the postseason MVP, an honor that went to Penguins captain Sidney Crosby.

Kessel posted 26 goals and 59 points in his first regular season with Pittsburgh. He authored four 30-goal seasons with the Maple Leafs, including 37-goal campaigns in 2011-12 and 2013-14.

The 28-year-old winger had nothing but praise for the fans in Toronto.

"They always treated me great. I loved the city there and I'll always cherish my time there," Kessel said.

He added that he'll "for sure" be back in Toronto for OVO Fest, the music festival hosted by Drake's record label, OVO Sound, in late July and early August.

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Riley Sheahan has reportedly agreed to a two-year contract extension with the Detroit Red Wings, according to MLive's Ansar Khan.

The contract will reportedly pay the restricted free agent $2.075 million per season.

Sheahan, 24, scored a career-best 14 goals last season, but did take a step back in overall production, netting a modest 25 points in 81 games.

The former first-round draft pick hasn't proven he can be a consistent top-six contributor for Detroit, and seems at risk of being overrun by the organization's prospects. But the Wings apparently think enough of Sheahan's work down the middle and in a bottom-six role to have him continue working toward becoming a consistent offensive contributor.

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PITTSBURGH - A huge turnout is expected in downtown Pittsburgh for the 2016 Stanley Cup champion Pittsburgh Penguins victory parade.

A parade after the team's last Stanley Cup championship in 2009 drew nearly 400,000 people.

The parade will begin at 11:30 a.m. Wednesday, seven years ago to the day that the last one was held.

Players and coaches are expected to be driven along a triangular route to a temporary stage, where other dignitaries will join them for remarks and festivities.

The team was founded as an expansion franchise in 1967, and also won the Stanley Cup in 1991 and 1992.

The Penguins clinched the championship with a 3-1 victory Sunday night against the San Jose Sharks, winning the best-of-seven series 4-2.

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