The Arizona Coyotes have initiated a buyout of the remaining three years of center Mike Ribeiro’s contract. After spending 2012-2013 with the Washington Capitals, Ribeiro signed a four-year, $22 million contract with a limited no-movement clause with the Coyotes. The Montreal native scored 16 goals and added 31 assists in his first season with Phoenix/Arizona.
Coyotes General Manager Don Maloney had this to say about the buyout:
“We wish Mike the best of luck in the future and thank him for his contributions with the Coyotes.”
The 34-year-old has 640 career points in 865 regular season games and has spent his NHL tenure with the Montreal Canadiens, Dallas Stars, Capitals, and Coyotes.
He had his best season in 2007-2008, where he amassed 83 points in 76 games, earning him his only All-Star Game appearance, representing the Stars.
Ribeiro’s postseason numbers consist of 27 points in 49 games, which is definitely a factor that could lead contending teams to signing him this offseason, despite controversial behavioral issues cited by Coyotes management.
BREAKING: (cont.) The buyout of Mike Ribeiro’s contract is in accordance with the NHL/NHLPA Collecting Bargaining Agreement.
— Arizona Coyotes (@ArizonaCoyotes) June 27, 2014
Maloney said this move was purely about behavioral issues and not cost-saving move. Ribeiro has been seeking help this summer, Maloney said.
— Sarah McLellan (@azc_mclellan) June 27, 2014
Maloney: “Mike had some real behavioral issues we felt we could not tolerate going forward.”
— Sarah McLellan (@azc_mclellan) June 27, 2014
Maloney said this decision doesn’t necessarily make #Coyotes better team next season but better organization in long run.
— Sarah McLellan (@azc_mclellan) June 27, 2014
#Coyotes weren’t naive when they acquired Ribeiro last summer, but Maloney thought they could manage. Called it “mistake” now.
— Sarah McLellan (@azc_mclellan) June 27, 2014
And to be clear, this is not a compliance buyout. Ribeiro will get paid over next six years just under $2 million.
— Sarah McLellan (@azc_mclellan) June 27, 2014
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