Jared Cohen
Almost a year ago at this time, the Coyotes biggest acquisition leading up to the 2013-14 season, besides securing a stable ownership group, was signing Center Mike Ribeiro to a multi-year deal. Ribeiro was supposed to be the answer for the Coyotes in their attempt to add a goal scoring threat. Before the season began, Captain Shane Doan called him the most important addition.
Well after a season in which Ribeiro called a dissapointemt, the Coyotes announced that they have bought out the remainder of his contract.
BREAKING: #Coyotes have initiated a buyout of the remaining three years of center Mike Ribeiro’s contract. (more)
— Arizona Coyotes (@ArizonaCoyotes) June 27, 2014
BREAKING: (cont.) The buyout of Mike Ribeiro’s contract is in accordance with the NHL/NHLPA Collecting Bargaining Agreement.
— Arizona Coyotes (@ArizonaCoyotes) June 27, 2014
Ribeiro got off to a fast start with the Coyotes to begin the season leading the team in points through November and looked like every bit of the player they pursued and gave a four year, $22 million deal to. But then Ribeiro found himself in a slump that he couldn’t get out of. His decline and lack of production directly correlated with the downfall of the Coyotes and he finished the last four or five months of the season with only 47 points after 29 after the first three.
“You come here and you are expected to do something, but then you dont,” said Ribeiro a day after the season ended. “It was hard to really grab that and get to that point. I never really got there.”
#Coyotes G.M. Don Maloney: “We wish Mike the best of luck in the future and thank him for his contributions with the Coyotes.”
— Arizona Coyotes (@ArizonaCoyotes) June 27, 2014
According to reports, the buyout of Ribeiro’s contract could cost approximately $1.94 million for six years. He was set to make $5.5 Million next season.
