The Arizona Coyotes placed veteran center Antoine Vermette on unconditional waivers and will buy out the remaining $3.75 million on his contract.
According to generalfanager.com, Vermette's buyout cap hit will be $1.25 million for next two seasons. It saves the Coyotes $2.5 million this upcoming season.
This move also allows prospects Dylan Strome and Christian Dvorak a chance to make an impact at the NHL level for the Coyotes at the center position this season. With Martin Hanzal and Brad Richardson already established centers, there's simply no room for Vermette (or his cost) on the roster given his decline in play.