After being placed on waivers on Monday, Tim Kennedy was not claimed by any team. The Sabres have officially bought out the remainder of his contract. He will become an unrestricted free agent and likely be signed by another team.
A week earlier, Kennedy went through the arbitration process and signed with the Sabres for $1 million. However, Regier stated that he would not sign Kennedy if he didn’t think the amount selected by the NHL was the proper value.
The Sabres organization was expecting Kennedy’s contract to be much less than $1 million. To buy him out, it would only cost the Sabres $333,330, which is almost nothing.