Sens buy-out forward Colin White

The Ottawa Senators have placed forward Colin White on waivers for the purposes of buying out his 6 year, $28.5 million deal.

From TSN insider Chris Johnston:

White has three years remaining on a six year contract that he signed with the Sens back in 2019 that paid him $4.75 million per season. As a result, the cap hit for the buyout will break down like this:

Year 1 and 2: $875,000 ($3.875M Savings)
Year 3: -$625,000 Cap Credit ($5.375M Savings)
Year 4, 5 and 6: $875,000 ($3.875M Savings)

So, in effect, the Sens save themselves an average of about $4 million per season by buying White out of his deal.

The 25 year old put up three goals and 10 points in 24 games with the Sens last season and will now become an unrestricted free agent free to sign with any NHL club he chooses. His career high came in 2018-19, just months before signing his long-term deal, when he put up 14 goals and 41 points in 71 games. He'll be a cheap pick up for someone seeking some depth on the 3rd of 2nd line this offseason.