The Maple Leafs have placed goalie Andrew Raycroft on unconditional waivers and will buy out the final year of his contract.
"Growing up in Ontario, Andrew wishes he would have been able to leave on a more positive note," his agent Jordan Neumann told TSN on Friday. "He's a year away from winning 37 games - it's not like he woke-up one morning and forgot how to play. He looks forward to his next opportunity and a new challenge."
Raycroft was acquired from the Boston Bruins prior to the 2006-07 season for goaltending prospect Tuukka Rask and went on to set a franchise mark for wins with 37 that season.
But the Belleville, Ontario native took a backseat to Vesa Toskala early last season and never regained the starting role. He finished the year with just two wins in 19 appearances.