The Canucks are apparently stubborn on not using the compliance buyout with unwanted contracts under the new collective bargaining agreement. They refused to do it with Roberto Luongo's contract. Now it appears they refuse to do it with the rest of Keith Ballard's $4.2 million contract (for 2 more years) as well. According to The Province's Jason Botchford, Ballard has been put on "conventional waivers", meaning they hope a team claims him and takes all of his salary. Compliance buy-out waivers is different because the team would have to pay out the remainder of Ballard's contract spread out over twice the remaining length of the term. That would be 4 years at $1.4 million per season.
It's really not that much, but the Canucks ownership refuses to do it at this point.
If Ballard clears waivers tomorrow, the Canucks can then try to trade Ballard and retain some of his salary, as Botchford states. If they retain 30% of his salary, it would cost them $1.26 million over the next 2 seasons. That amount would count against the salary cap.
The ultimate salary cap savings here would be to use the compliance buyout. Clearly, ownership is not too thrilled with the new CBA.