The Winnipeg Jets need to usher in the future of their blue line and increase their short-term financial flexibility. They can accomplish both things by buying out Neal Pionk and Nate Schmidt.
Buying out both defensemen would be relatively simple as they are in the final years of their respective contracts. Pionk’s current deal is a four-year one he signed with the Jets in 2021 that carries a $5.875 million average annual value (AAV), while Schmidt’s deal is a six-year one he signed with the Vegas Golden Knights in 2018 that general manager Kevin Cheveldayoff inherited in a 2021 trade that carries a $5.95 million AAV.
Pionk, in the first three seasons of his extension, has not replicated the quality of play he provided in his first two seasons in Winnipeg. He has played a top-six role but has struggled over the past two seasons on the defensive side of the puck; his offensive contributions have not outweighed his defensive gaffes and declining possession metrics.
Schmidt has spent three seasons with the Jets but has become a very expensive seventh defenseman who is in and out of the lineup. He is well-liked for his kind and gregarious personality, but his on-ice metrics and offensive numbers have dipped a lot — to 19 points in 2022-23 and and 14 points this season — from the 32 he put up in his first season with the Jets. He will be 33 by the time next season begins, and it’s around that age many defensemen begin to decline.
In a buyout scenario, the Jets would have to pay Pionk and Schmidt two-thirds of their remaining salaries over two years. They would owe them a combined $4.591 million next season — opening up $7.233 million in additional cap space — but then owe them a combined $3.616 million in 2025-26.
The buyout period begins the later of June 15 or 48 hours after the Stanley Cup Final ends and concludes on June 30 at 5 p.m. EDT, as per CapFriendly.
That $7-plus million in short-term savings well outweighs the $3.616 million kicked down the road. The funds would be nothing less than a massive boost for Cheveldayoff, who has a long list of unrestricted and restricted free agents on the books he’d like to retain after a 52-win season.
With Pionk and Schmidt bought out, Cheveldayoff would have more than $20 million at his disposal opposed to around $13 million. This would be enough to re-sign the four highest-profile players in need of new contracts: Sean Monahan, Dylan DeMelo,…
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