Official Statements on Danny Briere’s Buyout

Official Statements on Danny Briere’s Buyout
June 20, 2013, 2:17 pm

They can’t make it official until two days after the Stanley Cup Finals, but the Flyers have confirmed they will use a compliance buyout on Danny Briere as anticipated. After six years in Orange & Black, Briere becomes a free agent on July 5.

The buyout erases the final two years of Briere’s contract, and more importantly his $6.5 million cap hit, which was highest on the team. The move was necessary because the salary cap decreases by 9% this year, down from $70.2 million last season to $64.3M in 2013-14.

Briere will still collect two-thirds of his remaining salary, but because the eight-year, $52 million contract he signed in 2007 was frontloaded, that sum comes out to less than $4 million. The relatively low cost to the team was another reason Briere was an obvious candidate for amnesty.

We’ll have more from the ongoing press conference with Danny and general manager Paul Holmgren. For now, here are their official statements.

Holmgren:

“I met with Danny last week and informed him of our decision to use a compliance buyout on his contract,” said Flyers general manager Paul Holmgren. “This was a very difficult decision for us to make as Danny has been a very good player for us over the past six years.

“Danny came to our organization as a free agent in July of 2007 and has been a tremendous player, person and role model in all aspects and for that we thank him. We wish him continued success and best wishes in any future endeavors.”

Briere:

“I just want to say thank you to all the fans and my teammates for the wonderful last six years here,” Briere said. “Also, I want to thank the Flyers organization for treating me so well during my stay here. I will always be grateful to everyone around the team for my time spent as a Flyer.”

>> End of an era [Flyers.com]

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