Cowen was released from his professional try out with the Avalanche on Wednesday.

EDGE Analysis

A2009 first-round pick, Cowen attempted to earn a roster spot with the Avalanche on short notice after having the final year of his contract with the Maple Leafs bought out. While he won't make the club's Opening Night roster, it wouldn't be surprising if another team gives him a shot.

Cowen will join the Avalanche at training camp on a professional tryout agreement.

EDGE Analysis

Cowen's last taste of NHL action came in 2015-16 when he tallied four assists in 37 games with the Senators. The 26-year-old's previous contract was bought out by the Leafs in December, primarily due to lingering concerns surrounding a hip injury that prevented him from suiting up for a single contest last season, but it appears as though that ailment may finally be behind him. However, even if he's able to land a spot on Colorado's Opening Night roster, Cowen won't be a viable fantasy option in 2017-18.

Cowen (hip) lost his arbitration case Wednesday which means his buyout from the team is official, Bob McKenzie of TSN reports.

EDGE Analysis

With the buyout ruled on, Cowen is now a free agent and could sign with any NHL team. The defenseman may struggle to land with a team given lingering concerns about the hip injury that caused the dispute in the first place.

Cohen's (hip) grievance arbitration hearing with the Maple Leafs was held Wednesday, Bob McKenzie of TSN reports.

EDGE Analysis

The dilemma with Cowen's contract dates back to February of this year when the Leafs placed the defenseman on waivers due to a persistent hip injury. After the 25-year-old failed to recover on a timely schedule, Toronto decided it was best to look into a buyout scenario. However, because of the complications with Cowen's hip, a standard buyout wasn't an option. What resulted was the two parties consulting an arbitrator to decide what to do about the contract situation and it appears a decision may be coming in the near future. As it stands, the Maple Leafs would go from getting a $650K credit to taking a $3.5M cap hit if Cowen were to win the case.

The Maple Leafs will need an arbitrator to decide whether the team can buy out the final year of Cowen's contract at $3.1 million, TSN reports. Various sources have indicated that the defenseman has experienced complications from a hip injury dating back to the regular reason, therefore, a standard buyout cannot take place.

EDGE Analysis

This situation is like a hockey soap opera stuck on loop. The Buds have been relentless in trying to dump the 25-year-old, who was thrown into the Dion Phaneuf trade last February. He's been waived multiple times and refused to report to AHL Toronto, causing the Leafs to explore buyout options. Considering the Leafs had the worst record in the league last year and still had no use for Cowen, it's not likely to be any different for fantasy owners shopping for blueliners in 2016-17.

Cowen cleared unconditonal waivers Thursday, TSN's Bob McKenzie reports.

EDGE Analysis

Cowen is now free to be bought out by the Maple Leafs. The club is sure to complete the buyout process, as it will save the Buds $3.75 million in 2016-17.

The Leafs placed Cowen on waivers Wednesday for the purpose of buying out his contract, Wayne Scanlan of the Ottawa Citizen reports.

EDGE Analysis

NHL teams are required to waive a player before executing a buyout. Assuming Cowen ends up clearing waivers, the Buds would then be able to complete the buyout process. We're talking about a guy who, despite dealing with a significant hip injury, was acquired from the Senators in the Dion Phaneuf swap this past February, only to get waived and ultimately sent down to minor-league affiliate AHL Toronto. After past attempts to get rid of Cowen proved fruitless, the Leafs may be able to finally move on from him and garner hefty buyout savings amounting to $3.75 million.

Cowen will not play again in 2015-16, and the Maple Leafs are expected to buy out his contract, Mark Masters of TSN reports.

EDGE Analysis

In a standoff with the organization over his assignment to the team's AHL affiliate, it appears the Maple Leafs have finally decided it wasn't worth fighting over. Assuming the buyout occurs as expected, Cowen will be free to sign with another team at that point. Regardless of the organization, the blueliner has just four points (all assists) in 37 games this season, making him rather irrelevant in fantasy.

Cowen will not report to the AHL Toronto Marlies and will likely be traded, reports CBC's Hockey Night in Canada.

EDGE Analysis

Bu-bye -- it as nice knowing you, Mr. Cowen. The ninth overall pick in 2009 once held so much promise, but he never fulfilled those hopes. The 25-year-old still has a chance to be a sixth or seventh defender, but nothing more.

Cowen was sent down to AHL Toronto on Saturday, James Mirtle of TSN reports.

EDGE Analysis

Cowen hasn't appeared in a game with the Maple Leafs since being dealt by the Senators in the Dion Phaneuf blockbuster trade on Feb. 9. In 37 outings with Ottawa this year, the 25-year-old only recorded four points, which doesn't offer any hope of fantasy relevance in the event that he's recalled by Toronto in the near future.