The player, not the team, has to buy out the contract. Each contract is different, so the amount the player would have to pay is unknown.
Hey everyone,
I stumbled across this quote while going over the Rangers Prospect info here at DobberProspects:
"Contractually Shestyorkin is locked up by SKA through 2018-19 so unless the Rangers exercise a buyout don?t expect to see him in North America in the near future."
It was written by the Rangers writer at DobberProspects, Geoff Kent, but I can't find anything on him anywhere either.
Does anyone know anything about this buying out option? This is the second time I've heard of a KHL buyout option by an NHL team in the last 2 weeks.
The player, not the team, has to buy out the contract. Each contract is different, so the amount the player would have to pay is unknown.
Yeah the writer is wrong. Hard to comprehend how that writer could make a statement like he did without having his facts straight.
The NHL has a transfer agreement with other European leagues, meaning NHL teams can pay the agreed transfer agreement to get someone out of an existing contract from pretty much all other European leagues. But the NHL doesn't have a transfer agreement with the KHL, which means NHL teams cannot do anything if the player is under KHL contract and as rataylor said, the player himself will have to buyout his own contract. I believe the buyout is usually 2/3 of the remaining contract value, so that's why this doesn't happen all that much.
Sometimes KHL team and player mutually agree to void a contract, meaning the player gets out of the deal without paying anything. This is very unlikely to happen with someone like Shestyorkin because his KHL team will want to keep him for as long as possible, and they will throw big money at him when his current contract is about to end.
Thanks for the details guys.
Wishful thinking, I suppose.
Could the NHL team pay the player (under the table or in 'bonuses') that will allow the player to buy out his KHL contract?