Mike Ribeiro's stay in Glendale is over after just one season.
The Arizona Coyotes announced on Friday they have initiated the buyout of the remaining three years of the veteran's contract.
Ribeiro signed a four-year, $22 million contract with the Coyotes last summer and carries an annual cap hit of $5.5 million.
In 80 games with the Coyotes, the 34-year-old scored 16 goals and added 31 assists.
Ribeiro has scored 202 goals and 656 points in 865 games with the Coyotes, Washington Capitals, Dallas Stars and Montreal Canadiens.