The Minnesota Wild are expected to place defenseman Tom Gilbert on unconditional waivers with the intention of administering a compliance buyout, according to Michael Russo of the Minneapolis Star-Tribune on Wednesday morning.
Citing a source, Russo writes that Gilbert will either be placed on unconditional waivers on Wednesday or Thursday afternoon before the completion of the buyout window at 5 p.m. ET Thursday. Clubs intending to use compliance buyouts will be required to place buyout candidates on waivers by noon on Thursday.
Under the new collective bargaining agreement, each team is permitted two compliance buyouts that remove a player's salary from their salary cap allotment without penalty. This option was created due to the declining nature of the salary cap for the 2013-14 season, as well as a way to adjust to new contractual rules in the collective bargaining agreement.
Given the amount of salary cap commitments Minnesota has entering next season, many speculated that a potential buyout of Gilbert could be used to clear space. The 30-year-old defenseman has one year remaining on a contract that carries an annual average value of $4 million.
If Gilbert is placed on waivers and subsequently bought out, he will become an unrestricted free agent.