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Columbus Blue Jackets GM Don Waddell not weighing buyouts for Merzlikins, Severson
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- Columbus Blue Jackets GM Don Waddell not weighing buyouts for Merzlikins, Severson
Those harboring hopes of the Blue Jackets dipping into a salary-cap pool of roughly $42 million to buy out a "bad" contract or two should probably ditch that fantasy.
Buyouts aren't something Don Waddell , the Blue Jackets' president of hockey operations/general manager , is considering, even with goalie Elvis Merzlikins on a contract with only two years left at $5.4 million per season .
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Three times since the 2024-25 season ended , The Dispatch has asked Waddell about utilizing buyouts this summer. His answers haven't wavered.
"No, not at all," Waddell said most recently during a June 13 interview. "We're not looking at it at all."
Assuming his sentiment doesn't change, and there's no reason to think it will, Merzlikins and veteran defenseman Damon Severson aren't going anywhere without trades – and Severson has a full no-trade clause for the next two years. Merzlikins has a 10-team no-trade clause for his last two contract years, but Waddell hasn't indicated he's even seeking trades involving either player.
His focus, instead, is giving each player a new shot to thrive with the Blue Jackets in 2025-26.
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The NHL's first summer buyout window will open 48 hours after the conclusion of the Stanley Cup Final, which the Florida Panthers lead, 3-2, over the Edmonton Oilers , with Game 6 on June 17 in Sunrise, Florida. It closes at 5 p.m. June 30. Don't expect Waddell to use this year's buyout period like he did in June 2024 to purchase the final year of former defenseman Adam Boqvist's contract .
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Unlike Merzlikins and Severson, Boqvist had just one year left on a three-year contract with a $2.6 million cap charge. The Blue Jackets were obligated to pay Boqvist $533,333 for 2024-25 and 2025-26 to buy it out, which means they have only one more season before they're clear of paying Boqvist to leave.
It's a different scenario with Merzlikins and Severson, both of whom finished the season watching the Blue Jackets string together a six-game winning streak. Merzlikins was out with a concussion, replaced by dazzling rookie Jet Greaves , while Severson sat as a healthy scratch. Both players make significantly more money than Boqvist did, and both have multiple years left on their contracts, including a whopping six years for Severson.
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Buying out either one just doesn't add up for Waddell, and here's why:
Blue Jackets defenseman Damon Severson skates against the New York Rangers on Feb. 8.
Buyout would require Columbus Blue Jackets to pay Damon Severson for 12 more years
Severson held all the leverage when former Blue Jackets general manager Jarmo Kekalainen acquired him June 9, 2023 in a trade with the New Jersey Devils . He had nine years of NHL experience and helped the Devils qualify for the playoffs with seven goals and 26 assists, setting himself up for a possible windfall on the open market.
Kekalainen agreed to a sign-and-trade swap, in which Columbus acquired Severson and his signing rights for a 2023 third-round pick. The Blue Jackets then gave Severson a maximum term of eight years, which only teams re-signing their own free agents are allowed to extend via the league's collective bargaining agreement with the NHL Players' Association.
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Otherwise, Severson's term cap would've been seven years as a free agent. Instead, he got $50 million over eight years from the Blue Jackets, who now have six years left on a deal with a $6.25 million cap charge through 2030-31. According to PuckPedia , the Blue Jackets owe Severson $27.2 million over the next six years.
Columbus Blue Jackets defenseman Damon Severson (78) yells during the first period at Nationwide Arena on November 1, 2024 in Columbus, Ohio during the game against the Winnipeg Jets.
They'd have to pay 67% of it in a buyout, plus 100% of his remaining signing bonus valued at $2 million each of the next two seasons, as well as $1.8 million in 2027-28 and $1 million in 2028-29.
Buyouts lessen the amount a team is required to pay a player overall and count toward its annual salary-cap number, but the new amount owed is spread out evenly over twice the length of the remaining years on the deal. That means, in Severson's case, the Blue Jackets would be required to count reduced cap charges for 12 more years, stretching through 2036-37 while he becomes an unrestricted free agent.
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Waddell feels the best option is to simply bring him back and hope next season turns out better.
"Maybe things didn't go well this year for him, for multiple reasons, but we're going to clear the air this summer ... and when he comes back, be ready to compete for one of those top (blue line) jobs," Waddell said. "We know he's capable."
Blue Jackets goaltender Elvis Merzlikins has two years left on his contract.
Buying out Merzlikins would keep him on Columbus Blue Jackets' payroll through 2028-29
Merzlikins has two years left on his contract, a deal which carries a $5.4 million charge against the cap. Buying him out is easier than buying out Severson but extends the Blue Jackets' responsibility to pay him by two additional years (albeit at a reduced cost).
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Merzlikins is owed $9.75 million, so the buyout amount for the Blue Jackets would be two-thirds of that, or roughly $6.5 million.
Spreading that out evenly over four years results in annual buyout costs of $1.625 million per season through 2028-29. Considering the volatility that Merzlikins has displayed as the Blue Jackets' top goalie the past three years, there are probably fans and analysts who feel it's worth it.
Waddell disagrees, and it's his call.
"Until things kind of burst there in March, if you think about the outdoor (Stadium Series) game and how he stole that game, he won us more games than he lost us," Waddell said. "Things didn't go well for a couple of weeks in March, and it also didn't go well for our whole team. So, overall, I think he made big strides, and more importantly ... as a teammate to the rest of the guys."
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Blue Jackets reporter Brian Hedger can be reached at bhedger@dispatch.com and @BrianHedger.bsky.social
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This article originally appeared on The Columbus Dispatch: Blue Jackets GM says no buyouts for Elvis Merzlikins, Damon Severson
