In their first move to clear salary cap space, the Minnesota Wild intend to buy out the final year of Matt Cooke's contract after placing the veteran forward on waivers Thursday.
The move will save the Wild $2 million of the $3 million they owe Cooke as the team continues negotiations with several pending free agents, including No. 1 goalie Devan Dubnyk and No. 1 center Mikael Granlund.
The Wild are expected to continue making moves to shed cap space, specifically as NHL teams gather in South Florida next week for the draft.
Free agency begins July 1, when Cooke will be eligible to sign with any NHL team except the Wild.