Mikhail Grabovski buyout: Maple Leafs place forward on unconditional waivers

Charles LeClaire-US PRESSWIRE

The Toronto Maple Leafs have placed forward Mikhail Grabovski on waivers with the intention of giving him a compliance buyout.

The Toronto Maple Leafs have placed forward Mikhail Grabovski on unconditional waivers with the intention of using a compliance buyout, according to Ryan Rishaug of TSN on Thursday afternoon.

Grabovski had four years remaining on a five-year, $27.5 million contract that carried an annual average value of $5.5 million against the salary cap. The 29-year-old forward will be paid just under $1.8 million for the next eight-years as part of the buyout.

This is Toronto's final compliance buyout, as the Maple Leafs used one on defenseman Mike Komisarek.

Under the new collective bargaining agreement, teams are 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 that eliminated front- or back-loaded contracts.

With Grabovski's salary cap allotment negated, the Maple Leafs possess $24.5 million in cap space, according to CapGeek.com. It's been speculated that the club will attempt to sign free agent forwards David Clarkson and Tyler Bozak.

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