Jared Cowen's tenure as an Ottawa Senator may not last much longer, thanks in large part to an abnormal contract cap credit that should increase the inconsistent blueliner's allure for other NHL teams. As Frank Seravalli of TSN notes, because of the credit included in Cowen's contract, he'll be an intriguing potential addition ahead of the trade deadline, as much for what his contract can help accomplish next year as for whatever production he'll offer on the ice this season.
"If Cowen is bought out of the final year of his deal in June, the net result will be a rare $650,000 salary-cap credit for next season, which could help a team cover potential overage penalties paid out from this season," Seravalli writes.
"An overage penalty is applied to next season's salary cap when a team paid performance bonuses in contracts but did not have room under this season's cap."
So, if say the Chicago Blackhawks want to avoid a carryover from a player like Teuvo Teravainen hitting a contract escalator causing an $850,000 hit, acquiring Cowen and then buying him out would help them start next season with a clean cap slate.
Of course, Cowen is a former first-round pick, so he's not a player that Sens GM Bryan Murray will just give away. Then again, Cowen has been maddeningly inconsistent and was benched earlier this season in favor of AHL call-up Fredrik Claesson. He's a guy the team wants to move, has wanted to move, but there's no guarantee that they can.
Cowen does possess talent though and has averaged about 17 minutes of ice time over his last three games, but it's usually a bad sign when you're talking about contract credits in relation to a former first-round picks trade value.
