Phoenix Coyotes Hockey on AZ Vibe

GLENDALE – The Phoenix Coyotes announced yesterday that they had completed a trade with the Edmonton Oilers where 30 year old Coyotes defenseman Jim Vandermeer was sent to the Oilers in exchange for 25 year old Forward Patrick O’Sullivan. In addition the Coyotes bought out O’Sullivan’s contract once the trade with the Oilers was completed.

It seems like a dumb deal when you gloss over the details, right?

For one, Vandermeer’s and O’Sullivan’s contracts, if they played this season were almost identical. Both had one year left on their contract and Patrick O’Sullivan would have made $2.388 million this season and Jim Vandermeer would have made $2.300 million.

So why was this deal made you ask?

The deal was made not because of the roster needs for the Coyotes. The Phoenix Coyotes saved over a million dollars buying out O’Sullivan’s contract instead of Vandermeer’s.

If the deal wasn’t made with Edmonton, Jim Vandermeer’s contract buyout would have cost the Coyotes $1.53 million over 1 year and the salary cap hit for the Coyotes would have been $766,667 a year for 2 years.

O’Sullivan’s contract buyout was $795,583 spread over two season (Approximately $397,792 per year). O’Sullivan’s Salary Cap hit this season will be $935,417 and $397,917 next season.

O’Sullivan’s contract buyout saved the Coyotes over a million dollars this season. Money they can now use to sign free agents today.

The difference in the in the contract buyout price was the age of the two players according to the CBA. Vandermeer’s contract would have been paid over one year and O’Sullivan’s will be paid over two years.

A Very Smart move by Phoenix Coyotes GM Don Maloney…..very smart.