Boston Bruins place Mike Reilly on waivers to buy out his contract

The Boston Bruins made a significant move ahead of the NHL free agency by buying out the contract of defenseman Mike Reilly.

After failing to find any trade partners last season, the Bruins decided to utilize the buyout method to free up much-needed salary cap space. The move, completed on Friday just before noon ET, will provide the team with approximately $2.66 million in additional cap space, giving them greater flexibility in shaping their roster for the upcoming season.

Reilly, who signed a three-year, $9 million deal with the Bruins in the summer of 2021, had struggled to find a fit within the team. Despite the initial attempt to trade him last season, no suitable offers materialized, leading to the decision to buy out his contract. While this move comes with a cost, it allows the Bruins to alleviate some of their salary cap constraints and pursue other roster improvements.

The buyout of Reilly's contract will result in a breakdown of cap hits over the next two seasons. For the 2023-24 season, the Bruins will carry a cap hit of $333,334 as a result of the buyout. In the following season, 2024-25, they will have $1,333,334 in dead cap space. Although this will affect the team's cap situation in the future, the Bruins anticipate that the salary cap will rise significantly for the 2024-25 campaign, mitigating the impact of this dead cap space.

By freeing up $2.66 million in cap space through the buyout, the Bruins now have approximately $13.6 million available to address their remaining roster needs. With nine more roster spots to fill, this additional flexibility will prove valuable as they enter the NHL free agency period, which commences at noon on Saturday (ET).

In addition to the buyout, the Bruins issued qualifying offers to nine players before the Friday deadline.

Tyler Bertuzzi of the Boston Bruins intends to explore NHL free agency

The Boston Bruins face a challenging situation as they navigate the upcoming NHL free agency period. While re-signing Tyler Bertuzzi would undoubtedly be a beneficial move for the team, their tight salary cap situation hinders their ability to offer him a competitive contract. Consequently, it has been unsurprising to see reports of Bertuzzi planning to test the free agent market.

However, it is worth noting that this decision does not entirely rule out the possibility of Bertuzzi returning to Boston. Since every team will have the opportunity to engage in discussions with him starting on Saturday, it is expected that he will garner significant interest as one of the premier available forwards.

Bertuzzi's gritty, power forward-style of play is highly coveted by coaches and general managers, especially after witnessing Matthew Tkachuk of the Florida Panthers dominate the recent Stanley Cup Playoffs with a similar approach.

While Bertuzzi may not reach Tkachuk's level of performance, he possesses many of the same skills that make him an attractive prospect. Unfortunately, even after trading Taylor Hall to the Chicago Blackhawks to clear cap space, the Bruins are left with a mere $10.9 million to fill nine roster spots. Barring additional cap-clearing moves, it appears unlikely that Bertuzzi, along with defenseman Dmitry Orlov, will return.

Bruins general manager Don Sweeney expressed a realistic understanding of the team's financial limitations, acknowledging that the window for signing Bertuzzi is closing. Sweeney also mentioned the potential for younger players to step up and emphasized the team's pursuit of identified players to fill the void.

With limited cap space, the Bruins may have to seek affordable options in the free-agent market. One player frequently mentioned as a potential addition is veteran left wing Milan Lucic, who is strongly rumored to be considering a reunion with the Boston Bruins.