The Ottawa Senators are moving on from Bobby Ryan.
With the intention of buying out the remaining two seasons on his lucrative multi-year contract, the Senators placed the reigning Masterton Trophy winner on waivers Friday morning, effectively ending a seven-season partnership between franchise and player.
Ryan had two years and $15 million remaining on his current contract, which was scheduled to cost $7.25 million on the salary cap. Ottawa will save $3.67 million in real money with the buyout and will also open up some cap space in the short term, but the organization will incur a $1.83 million charge on the salary cap for two seasons beyond the term on Ryan’s deal as an associated cost to triggering the buyout.
Ryan was limited to 24 games last season and scored just five goals and eight points. He did author one of the best moments of the season in any market across the league, scoring a hat trick in his return to the Senators after an extended leave to enter the league’s assistance program for alcohol abuse.
He thanked the Senators organization and the fans in Ottawa for their support, particularly through this most recent season, in a message relayed by TSN Radio’s Ian Mendes.
I was able to connect with Bobby Ryan after today’s news.— Ian Mendes (@ian_mendes) September 25, 2020
He wanted me to pass along the following statement to the fans here in Ottawa: pic.twitter.com/59YcuLl2mu
Ryan, 33, has 254 goals and 555 points in 883 career games, split between the Senators and Anaheim Ducks, who selected him No. 2 overall behind Sidney Crosby in the 2005 NHL draft.
Ryan will be free to sign on with a team of his choosing while continuing to earn the money remaining on his contract.
Meanwhile, the Senators are now $20 million-plus below the salary floor after the buyout, and will have to spend some money this offseason to meet the payroll requirements of each NHL franchise.
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