How do contract buyouts work now?

As a leafs fan, I hear multiple times the Leafs have put away ALOT of monet to buyout contracts this summer from some of their highpaid players. AKA Pavel Kubina to clear up salary as well as roster space.


In the new CBA, how does buyout of contracts work. Once they buy the contract out is it on their salary cap for the season or is the the team able to still spend on other players. I am just wondering cause I do not know how this works and would like to know how the contract buyouts work in the new NHL.

It will be interesting to see who the Leafs buyout this summer I believe. I want to see who they get rid of and who they keep to try and rebuils somewhat of a team again. Atleast one positive is nothing can be lower then rock bottom. Well, another huge Kubina deal could be, haha.

Here is a link to the apparent buyout of the Leaf players:

http://sportsline.com/nhl/story/NHL_SC-RUMOR