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Bailey was designated for waivers by the Blackhawks on Thursday in order to buy out his contract, Chris Johnston of TSN reports.
It's been an interesting day for Bailey who was acquired by the Hawks, along with a 2026 second-round pick, from the Islanders for future considerations, only for his new club to immediately terminate his contract. While New York has shed the full $5 million cap hit by trading the winger, Chicago will still be on the hook for $2.7 million this year and $1.2 million next season, assuming Bailey clears waivers. Since his career-best 2017-18 campaign in which he racked up 71 points, Bailey's numbers have steadily declined, including just 25 points in 64 games last season.
