Schmidt was in the final year of his six-year contract with a $5.95 million cap hit.
— Frank Seravalli Schmidt, 32, was entering the final year of his six-year contract with a $5.95 million cap hit, one he originally signed with the Vegas Golden Knights as an extension back in 2018. The buyout will leave the Jets with a $2,716,667 cap hit in the 2024-25 season and a $1,616,667 in the 2025-26 season.Blake WheelerSchmidt’s buyout comes after a struggling season that saw him produce just 2 goals and 12 assists for 14 points in 63 games.
Schmidt was an undrafted free agent signing by the Washington Capitals out of the University of Minnesota. The Caps signed him to an entry-level deal in 2013, and after making his debut in the 2013-14 season, Schmidt spent the next four seasons with the Caps before he was claimed by the Golden Knights in the expansion draft.
Even with almost $12 million in cap space, the Jets have plenty of players on their roster to re-sign before the free agent period opens on Monday. They currently have six unrestricted free agents and three restricted free agents on their roster, including
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