2012 NHL Lockout

Kings activate defenseman Matt Greene in order to buy out his contract

Kings activate defenseman Matt Greene in order to buy out his contract

The Kings prepared to bid farewell to a core member of their two Stanley Cup-winning teams when they activated rugged defenseman Matt Greene off injured reserve Tuesday as the first step toward buying out his contract.

Greene, 34, has one year left on his contract at $2.5 million. The salary-cap hit for buying out the contract of a player who is older than 26 is two-thirds of the cap hit spread over twice the remaining length. That will give the Kings a cap hit of $833,333 for Greene in each of the next two seasons. The league-wide buyout period will begin Thursday.

Although injuries and back surgery limited Greene to 26 games last season, his teammates still chose him as...

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