According to sources, the Wild placed defenseman Cam Barker on waivers at 11 a.m. -- the first necessary step to likely buying him out. If he clears, it'll be 11 a.m. Wednesday. Then he'd have to run through waivers again to be bought out.
As reported by the Star Tribune on June 3, the Wild was seriously considering buying out Barker because of a clause in the collective bargaining agreement. Because he is under 26, the Wild can buy him out for one-third (rather than two-thirds) his $3.25 million salary through the first buyout period June 30.
That's a $1.083 million payoff. By doing this, instead of having a $3.083 million cap hit next season, the Wild would be charged a $375,000 cap hit next season and $541,667 cap hit in 2012-13.
Barker's agent, J.P. Barry, met with Chuck Fletcher this past weekend in a hope of convincing the GM to give Barker one final chance. In other words, if Barker didn't prove himself this season, just don't qualify him next summer when he's due to become a restricted free agent.