NHL teams use buyouts to clear cap space prior to free agency

NHL teams are taking advantage of their final chance to buy out players this offseason.

Among the players placed on unconditional waivers for buyout purposes were New Jersey Devils forwards Michael Cammalleri and Devante Smith-Pelly, Florida Panthers forward Jussi Jokinen, Boston Bruins forward Jimmy Hayes, Winnipeg Jets defenseman Mark Stuart, and Calgary Flames forward Lance Bouma and defenseman Ryan Murphy.

The Devils are clearing almost $4.5 million in cap space by buying out the final two years and $10 million of Cammalleri's deal and the final season at $1.3 million of Smith-Pelly's.

The Panthers saved $2.67 million by buying out Jokinen, the Bruins $1.73 million by buying out Hayes, the Jets $1.17 million by buying out Stuart and the Flames almost $2 million by buying out Bouma and Murphy.