The San Jose Sharks have placed Martin Jones on unconditional waivers this morning with the intention of buying out the remaining 3 years of his contract.
The buyout will pay Martin Jones a total of $10M over the next 6 years, saving the Sharks $5M from the initial contract.
Per CapFriendly, the buyout gives the Sharks a salary cap space of $13.3M
headed into the Free Agency period.
Most Sharks fans wanted to see the team depart from Jones as his production has dropped over the past few seasons. With the buyout of Jones following the acquisition of Adin Hill, it now is apparent that the Sharks will in fact be subject to a goaltending competition in the 2021-22 season as the team searches for it's next starting netminder to lead them back to the Stanley Cup playoffs.