The suggestion here is that the NHL allowed the buyout to proceed normally for cap purposes for the time being. In arbitration scheduled for early-to-mid October, the two sides will argue over whether Cowen is owed the full amount of his 2016-17 salary $4.5 million because he was not healthy enough to be bought out, or if the Leafs owe him only a third of the $4.5 million because it was a legal under-26 buyout.
Whether or not an unfavorable ruling for the Leafs could lead to a cap penalty or the return of Cowens full $3.1 million cap hit to the Leafs books is unclear at this time.
After removing Jared Cowen from the Leafs roster, replacing him a cap credit of $650,000 and adding Nikita Zaitsev, the Leafs have about $2 million in cap space with a 25-man roster presently. Pared down to 23, the Leafs would have over $3 million cap space without using any Long Term Injury Reserve relief. Cushion underneath the cap would be available to account for the performance bonuses achievements of Auston Matthews, Mitch Marner, William Nylander and company that will be applied at seasons end.
Well have to await confirmation of the details, but this looks like it is good news for the Toronto Maple Leafs cap situation this season and next.
