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The Carolina Hurricanes Will Buy Out Alexander Semin

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The Carolina Hurricanes have placed Alexander Semin on waivers with the intention of buying him out.

The Alexander Semin experiment seems to be officially over.

The Carolina Hurricanes announced Tuesday that they have placed the Russian winger on waivers and intend to buy out the remaining three years of his contract. With $21 million remaining on the deal, the Hurricanes willl pay out $2.33 million for the next six seasons ($14 million in all) to part with Semin.

Semin’s future was one of Carolina’s many offseason touchstone topics, but easily its most financially charged. After registering 44 points in 44 games of the lockout-shortened 2012-13 season, then-GM Jim Rutherford rewarded Semin with a five-year, $35 million contract. But Semin was unable to live up to the deal, combining for just 28 goals and 33 assists in 122 games the next two seasons.

Semin underachieved with 22 goals and 20 assists in 65 games in 2013-14, but bottomed out under new coach Bill Peters last season. In and out of the lineup and up and down the forward ranks, Semin scored just six times and had only 19 points in 57 games. Unable to trade Semin’s mammoth deal, Francis opted to buy out Semin on the final day teams could place players on waivers for that purpose.

It wasn't all doom and gloom for Semin in Carolina. Playing on a one-year deal in 2012-13 after spending the previous six seasons of his career with Washington, Semin teamed with Eric Staal and Jiri Tlusty to make up one of the most dangerous lines in hockey. But for whatever reason, the magic only last one season, and Semin — along with Staal and Tlusty — saw his numbers dip.

The move should put Carolina in the market for another forward or two this offseason, since the team has only 10 forwards who played in at least half of the Hurricanes’ games last season and there are no players in the system who are sure-fire locks to make the roster.

The news story from the team can be seen here.