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So short answer:
A buyout in Hockey means that a portion of their cap hit is spread out among the years they have left. It stays on the salary cap until it runs out. FHM does occasionally offer the ability to have compliance buyout - which means that there's no cap hit for anyone.
So Yes it eats salary cap space. No, nothing makes it go away. No, you can't re-sign him, at least for a year.
1.7 is manageable though.
Still, we've been robbed of what would have been the most epic thing for Hockey Fans: The retirement of Shea Weber under the pre-2020 rules. Had Weber retired before his contract was done at one point Nashville would have had a cap penalty of almost $25 million dollars in one year (and over 12 in some too)!
As a full-time member of Team Chaos, I was all for that.
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