Evgeny Kuznetsov and the Carolina Hurricanes set in motion what is expected to be the Russian centerman’s move back to the KHL on Wednesday.
Carolina placed Kuznetsov on unconditional waivers for the purpose of mutual contract termination. The 32-year-old forward will forego the remaining $6 million left on his deal in favor of signing a reported four-year contract with the KHL’s CSKA Moscow.
The Hurricanes have placed forward Evgeny Kuznetsov on unconditional waivers today, for the purpose of terminating his contract.
— Hurricanes PR (@CanesPR) July 17, 2024
“Ultimately both sides agreed this was the best course of action for both the player and the team,” Canes general manager Eric Tulsky told Hurricanes.com. “We thank Evgeny for his time with the team and wish him and his family the best.”
Kuznetsov had one season remaining on the eight-year deal he signed with Washington in the summer of 2017. The Capitals retained 50 percent of his cap hit when they dealt him to Carolina at last season’s trade deadline so he was set to cost both teams $3.9 million this upcoming season.
Per PuckPedia, both teams will now see that cap hit taken off of their books for the 2024-25 campaign. Washington also keeps the 2025 third-round draft selection they traded Kuznetsov for.
By mutually terminating Kuznetsov's contract, he loses the $6M in salary he was set to earn this season. He received a $2M Signing Bonus earlier this month which he keeps.
Both #CauseChaos & #ALLCAPS lose the $3.9M Cap Hit they were carrying for himhttps://t.co/jnZybCv39D https://t.co/KoQ3cUDQhl
— PuckPedia (@PuckPedia) July 17, 2024
The $3.9 million of dead cap space for Washington accounted for 4.4% of their spent salary cap which is now freed up. The Capitals, before Wednesday’s news, were nearly $14.2 million over the cap after their busy offseason with the combined salaries of Nicklas Backstrom ($9.2M) and TJ Oshie ($5.75M) expected to start the year on LTIR to cover those expenditures.
Now, the Capitals are “just” $10.3 million over the cap and with their expected Backstrom/Oshie savings, could start the season with $4.65 million in cap room.
Kuznetsov departs the NHL after amassing 575 points (173g, 402a) in 743 games. 568 of those points (171g, 397a) and 723 of those games came wearing a Capitals sweater.
July 18 update: Kuznetsov has cleared waivers.
Evgeny Kuznetsov has cleared unconditional waivers.
He is now an unrestricted free agent, and can sign where he pleases
— Elliotte Friedman (@FriedgeHNIC) July 18, 2024
