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Decision On Cowen Buyout Still Undetermined

August 15, 2016, 11:15 PM ET [654 Comments]
Mike Augello
Toronto Maple Leafs Blogger • RSSArchiveCONTACT
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A decision of whether the Toronto Maple Leafs buyout of defenseman Jared Cowen will stand or not has been in limbo for nearly two months. According to a report from General Fanager on Monday, the situation is still undetermined and another hearing to decide the fate of the 25-year-old blueliner has yet to be scheduled but is expected in the near future.

The 2009 first round pick of the Ottawa Senators was acquired along with Milan Michalek, Colin Greening, Tobias Lindberg and a second round pick in the Dion Phaneuf deal last February. Cowen was immediately placed on IR for hip tightness, but was cleared medically before being placed on waivers later that month.

After clearing waivers, Cowen was told that he would not play, that Toronto would buy him out after the season and that he was free to talk to other NHL clubs about a contract for next year.

Sportsnet’s Elliotte Friedman reported last month that the defenseman had surgery on his doctor’s recommendation after the season, so the arbitrator has to decide whether the Leafs medical staff cleared Cowen to make the buyout possible or if he was actually healthy.

The result of the arbitrator’s decision is an important aspect of the Leafs off-season. If it is determined that the Leafs were free to proceed with the buyout, they will clear Cowen’s $3.1 Million salary for the 2016-17 season and gain a $650,000 credit on the salary cap for the upcoming season.

If it is found that Cowen cannot be bought out because of his injury status, the 2009 first rounder could receive the full $4.5 Million owed in the final year of his deal.

Toronto currently has $55,916 in available cap space, but the club is allowed to exceed the $73 million cap by 10% until the beginning of the regular season.

The more important aspect of Cowen still being on the roster is the Leafs being at 47 professional contracts. GM Lou Lamoriello must add a veteran backup goalie and is in the mix for Hobey Baker winner Jimmy Vesey, which could bring the Leafs precariously close to the 50 pro contract limit.

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Vesey Update

Those who wanted a quick resolution to the Jimmy Vesey saga will have to endure another four or five days of chatter and speculation.

Peter Fish (the agent for the Harvard forward) told the Associated Press on Monday that the Hobey Baker Award winner is in no rush to sign his first contract.

"It's certainly not going to be tomorrow(Tuesday)," Fish said. "I would say the earliest may be Friday or Saturday, but I wouldn't expect it to drag on much into the following week."

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