Reports are surfacing this afternoon that the Los Angeles Kings will buy out the contract of veteran defenseman Matt Greene. TVA Sports reporter Renaud Lavoie broke the news on social media:
The Kings have yet to confirm the news, but if the rumors are true than the team will save itself over $1.5 million on the cap for 2017-18. That’s because Greene’s annual salary of $2.5 million will be reduced to roughly $830,000 for the next two seasons. So, although Greene only had a year remaining on his deal, the cap hit will be spread across two seasons.
It’s not yet known whether or not Greene will pursue other opportunities in free-agency or decide to retire. If indeed he decides to call it a career, the 34 year-old would retire a two-time Stanley Cup champion and a veteran of 615 NHL games.