Islanders to place goalie DiPietro on waivers

By on July 2, 2013
 Islanders goalie Rick DiPietro, once considered a cornerstone of the franchise, will be put on waivers.

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Islanders goalie Rick DiPietro, once considered a cornerstone of the franchise, will be put on waivers.

The Islanders will place goaltender Rick DiPietro on waivers on Tuesday at noon with the intent of using a compliance buyout to wipe his albatross contract off their team salary cap if – or rather, when – he is not claimed.

Newsday first reported the Isles’ intentions Monday night.

The cash-strapped franchise, however, will have to pay DiPietro $ 1.5 million annually for the next 16 years. That’s because DiPietro, 31, has eight years and $ 36 million remaining on a 15-year, $ 67.5 million contract, and in the compliance buyout, the Isles owe him two-thirds of the remaining money owed ($ 24 million) spread evenly across twice the remaining term (16 years).

Each team received two compliance buyouts in the NHL’s new collective bargaining agreement to fit under a shrinking salary cap and eliminate contracts with terms or imbalances the league felt circumvented the previous financial structure.


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