Kukla's Korner Hockey
by Paul on 07/25/05 at 11:58 PM ET
The reality of the new $39 million salary cap hit home for the previously free-spending Detroit Red Wings on Monday when they were forced to put Derian Hatcher, Ray Whitney and Darren McCarty on waivers in preparation for buying out their contracts. The buyouts will cut the Red Wings' payroll by $9.2 million. After the 24% wage reduction, Detroit is now just above $25 million, although it must re-sign restricted free agents Pavel Datsyuk, Henrik Zetterberg and Jason Williams, plus unrestricted Steve Yzerman. "These were very difficult decisions to make, but based on the new rules we had to clear some cap space," said Detroit general manager Ken Holland. The presumption is the Red Wings, who sell out their arena for the entire season, will bring their payroll to about $37.5 million to give themselves room in case they have to make a move at the trade deadline. When the NHL last played in 2003-04, the Red Wings were pushing $80 million in payroll.
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.
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