Sharks place Adam Burish on unconditional waivers for purpose of a buyout

The Adam Burish Era is officially over.

According to Sportsnet's Elliotte Friedman, the Sharks have placed forward Adam Burish on unconditional waivers this morning for the purpose of buying out the 32-year-old forward who had one year remaining on the four-year contract he signed as a free agent in 2012. Burish spent the bulk of this past season in the AHL after clearing regular waivers in late November and being subsequently re-assigned to the minors.

Burish was owed $1.85 million for the coming season, meaning his buyout will come in at two-thirds that amount, or $1.23 million, spread out evenly over the next two years. It isn't always the case that a bought-out player's cap hit will match the monetary value of his buyout but that's the scenario here: Burish will count against the Sharks' cap for $616K in each of the next two seasons. That's a lower cap hit than the $950K charged to the Sharks while Burish was buried in the minors last year but this move does keep Burish on the books for a year longer.

Burish's contract will go down as one of the biggest free agent failures of Doug Wilson's tenure which is something of a positive in the sense that it was a relatively minor deal but it's also emblematic of the GM's struggles in properly evaluating quality depth players; how a career fourth-liner with no discernible NHL-level talent was deemed worthy of a four-year contract I'll never know. The fact that Wilson made an identical, if half as large, mistake by giving an even worse forward in Mike Brown a multi-year contract extension last offseason showed he still hadn't learned from the Burish mistake. Hopefully he finally has now.