Calgary Flames To Buy Out Michael Stone

NEWARK, NJ - FEBRUARY 08: Michael Stone #26 of the Calgary Flames in action against the New Jersey Devils on February 8, 2018 at Prudential Center in Newark, New Jersey. The Flames defeated the Devils 3-2. (Photo by Jim McIsaac/Getty Images)

The Calgary Flames have put defenceman Michael Stone on the waivers for purposes of a buyout. The Flames decided to buyout Stone as the team is struggling with cap issues. Stone was about to enter the final year of his contract. Executing his buyout, the Flames will save $2,333,333 next season.

Calgary Flames To Buyout Michael Stone

Michael Stone has spent almost three seasons with the Calgary Flames. Before that, the Arizona Coyotes drafted Stone as the 69th overall in the third round of the 2008 NHL Draft. In 2017, the Flames acquired Stone in a trade from the Arizona Coyotes. In that same year during the offseason, Calgary re-signed Stone to a three-year contract extension worth $3.5M per season. During his first full year with the Flames, Stone has appeared in all 82 games, posting 10 points.

Last season, things did not go according to plan for the Winnipeg native. Stone has skated only in 14 games at the NHL level.  He also appeared in three AHL contests as well. As he was about to enter the final year of his contract, the Flames were not counting on him anymore. The 29-year-old defenceman has played in 439 NHL games collecting 29 goals and 88 assists for 117 points with the Coyotes and the Flames.

What Does This Mean For The Future

The Calgary Flames have decided to buy out Stone. That will cost them $1,166,667 per year for the next two seasons. As of next season, the Flames will save $2,333,333 in the salary cap space. After buying out Michael Stone and his final year of the contract, the Flames will have approximately $7 million in their salary cap space.

After re-signing David Rittich and Sam Bennett, the Flames needed to free up their salary cap space for re-signing RFA Matthew Tkachuk. With the Flames overall depth on the blueline, Stone no longer fit in with the Flames plan. Not to mention with Juuso Valimaki or Rasmus Andersson emerging as very good young blueliners, the Flames chose to get rid of their veteran defenceman.
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