The Florida Panthers have placed defenceman Ed Jovanovski on unconditional waivers for the purposes of a buyout.
The 38-year-old Panthers captain scored one goal and four assists in 37 games with the Panthers in 2013-14.
Jovanovski had one year remaining on a four-year deal he signed with the Panthers prior to the 2011-12 season. The deal is worth an average annual value of $4.125 million.
The veteran defenceman had hip surgery in April, 2013 and was not activated from the injured reserve until January of this year.
Originally selected first overall by the Panthers at the 1994 NHL Entry Draft, Jovanovski has scored 137 goals and 363 assists in 1,128 career NHL games with the Panthers, Vancouver Canucks and Phoenix Coyotes.
He has represented Canada on the international stage on a number of occasions, winning a gold medal at the 2002 Olympic Games in Salt lake City.