Senators place White on waivers for purpose of buyout
The Ottawa Senators have placed forward Colin White on unconditional waivers for the purpose of a buyout, according to Sportsnet's Elliotte Friedman.
White had three seasons remaining on his contract at a $4.75-million cap hit.
The buyout costs one-third of the total remaining value on the contract since White is under 26 years old. Here's a breakdown of Ottawa's cap savings, according to CapFriendly:
| Season | Base salary | Buyout cost | Savings |
|---|---|---|---|
| 2022-23 | $4.75M | $875K | $3.875M |
| 2023-24 | $4.75M | $875K | $3.875M |
| 2024-25 | $6.25M | $875K | $5.375M |
| 2025-26 | $0 | $875K | -$875K |
| 2026-27 | $0 | $875K | -$875K |
| 2027-28 | $0 | $875K | -$875K |
White was the 21st overall pick in 2015. He's struggled to stay healthy and produce of late, managing 28 points in 69 games over the past two seasons.
Colin White, bought out by OTT, is a bottom six forward who has struggled to produce since signing a long-term deal with the Senators. Might be a useful pickup on a show-me deal. #GoSensGo pic.twitter.com/WCaLH7eFjS
— JFresh (@JFreshHockey) July 5, 2022
The Senators have over $27 million in cap space to work with this offseason with a roster size of 14.