The San Jose Sharks are using the buyout window to release Nikolai Knyzhov, according to The Athletic’s Chris Johnston.
Nikolai Knyzhov (SJ) has been placed on unconditional waivers for a buyout.
— Chris Johnston (@reporterchris) June 29, 2024
Knyzhov is a 26-year-old defenseman with one more year left on his $1.25 million AAV contract with a $1.4 million base salary due this year.
Now, don’t hate Macklin Celebrini, but you have to figure that the Sharks made the move instead of waiting another year for the contract to expire because Celebrini wants to wear number 71. That was Knyzhov’s number.
Make no mistake, keeping Knyzhov on the roster for another season was only delaying the inevitable. There was no way he was going to play with the Sharks past the 2024-25 season. Last season, his cap hit was dead money anyway. He played for the Barracuda more than the Sharks and the team took a cap penalty as a result. This move is really a parting of ways that both sides needed.
What the Knyzhov buyout looks like
The buyout isn’t a huge deal, especially for a team below the cap floor. Basically, a buyout means that the team is on the hook for a percentage of the remainder of the player’s salary, broken down over double the term of the remainder of the contract.
In Knyzhov’s case, that means San Jose would need to pay 67% of the remaining $1.4 million, or $933,333, spread out over two years.
The cap hit for the Sharks will be $466,667 per year through 2025-26.
Knyzhov’s history with the Sharks
It’s a sad end to a career that looked so promising as a third-pairing, shutdown defenseman.
The Sharks signed Knyzhov as an undrafted player and placed him in the lineup in 2019-20. He played three games but earned ample time the next season. In 2020-21, Knyzhov played 56 games and had 10 points.
Sadly, that’s when a series of injuries hindered his ability to play consistently. He had a hernia, groin injury and torn Achilles, the latter of which required surgery and caused him to miss several months in the 2022-23 season.
Still, General Manager Mike Grier signed Knyzhov to a new contract in 2023, hoping that Knyzhov would return to form. The defenseman never seemed to work his way back up the defensive depth chart and was eventually sent down to the Barracuda for good.
