Oilers trade O'Sullivan to Coyotes for Vandermeer

[30ranfordfan]

The Edmonton Oilers continue to pare down their payroll for July 1, as the club has dealt forward Patrick O'Sullivan to the Phoenix Coyotes for defenceman Jim Vandermeer.

http://www.tsn.ca/nhl/story/?id=326153

[mr ozzie]

I'm all confused. I thought Sully and Moreau were placed on waivers at the same time so that they can buy them out.

[30ranfordfan]

Sully, Moreau, and Nillson were all placed on waivers..... and you're right, to prep for a buy out.

Moreau got claimed, so now buy out.

POS - he gets traded for Vandermeer, who was in the same boat.... on waivers waiting to be bought out.

The salaries are almost the same (POS would make $88k more) so I think this is just Phoenix doing the Oilers a favour. They'll still buy Patrick out, but the Oilers get Vandermeer - a player that Phoenix was going to buy out anyway, but Edmonton wants.

I'm all confused. I thought Sully and Moreau were placed on waivers at the same time so that they can buy them out.

[mr ozzie]

Sully, Moreau, and Nillson were all placed on waivers..... and you're right, to prep for a buy out.

Moreau got claimed, so now buy out.

POS - he gets traded for Vandermeer, who was in the same boat.... on waivers waiting to be bought out.

The salaries are almost the same (POS would make $88k more) so I think this is just Phoenix doing the Oilers a favour. They'll still buy Patrick out, but the Oilers get Vandermeer - a player that Phoenix was going to buy out anyway, but Edmonton wants.

Okay, that makes more sense. I thought I was dreaming when I read an article this morning about Moreau, Sully, and Nilsson being placed on waivers. But Vandermeer on waivers explains a lot. Thanks.

[OilersRule]

POS....good riddance! What a waste of space that player is!
Vandermeer is not amazing...but a huge improvement applied to a different task all-together.

The Oil got real lucky on this trade!

[CSSports]

doesnt make sense if POS was more (88K) and PHO trades him for VanD to EDM
Doesnt PHO lose more $$$ buying out POS vs VanD? Why wouldnt they just buy out VanD for less $$$
Me thinks EDM is helping on the POS buyout just to get a chance to sign VanD before tomorrow

[cnshockey]

Vandermeer isn't being bought out. He was traded for to play on the Oilers next year while PHX receives a cheaper buyout.

[30ranfordfan]

CSS is right. O'Sullivan was set to make $2.388, while Vandameer is to make $2.3

It's close enough, that I'd consider it a wash..... but Phoenix is going to spend nearly $59k more on this buy out than they would have.

I can only guess that the Oilers will probably do them a favour down the road. I would assume that if Edmonton has an expiring contract at the deadline and Phoenix wanted him - it's a trade that gets made.

[30ranfordfan]

Just did a little checking (and someone can correct me if I'm wrong).

There's two different numbers at work here. Cap Hit, and actual salary.

To buy the player out - you have to pay him 2/3s of the remaining salary.

Phoenix owes POS 1.592 million on a buy out. They would have only paid JV 1.533 million - So they're out roughy $59k.

However, they have to take 1/3 of the Cap hit, over double the term. JV's Cap Hit is 2.3 million - so a buy out would represent $766k Cap Hit for each of the next two years. POS's Cap Hit is worth $2.95 million - so they've got to suck up a $983k Cap Hit for each of the next two years.

So they spend $59k more up front..... but if they're planning to spend at the Cap floor..... they'll save $217k in each of the next two seasons.


These teams just did each other a favour.