We all knew this was coming. I didn't think he would get waived outright, it's not the most ideal situation, but something we all should keep close tabs on in the next day or two.
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The Wings sit with a little less than $550K in cap space. That's including Tootoo's $1.9M, Almquist's $600K & Coreau's $790K. Ericsson is on LTIR keeping his $3.2M off the cap for now, but the water is about to get murky in the next week or so once he is ready.
So why is waiving Tootoo not ideal? Well if he goes unclaimed, and is sent to Grand Rapids it only gives $925K in cap relief, not the full $1.9M. So lets add it all up with the callups back in GR along with Tootoo you get a little over $2.32M off the books, that's $1M short of Ericssons cap hit. Factor in the space available and the Wings are 500K+ over.
One more body will have to move at this point, unless he gets claimed or they can find a trade partner for Tootoo that's very unlikely considering he's up for grabs right now.
Lets not even mention the fact that Nyquist is still sitting in Grand Rapids tearing it up.