The Edmonton Oilers placed forward James Neal on unconditional waivers Tuesday for purposes of a buyout.
Neal, 33, had two years left on his contract at a cap hit of $5.75 million. The buyout will save the Oilers $3.83 million in each of the next two seasons, while adding a cap charge of $1.92 million in each of the two years after.
Traded to the Oilers from the Calgary Flames for Milan Lucic in 2019, Neal had 19 goals and 33 points in 55 games in his first season in Edmonton. This season, though, he posted five goals and 10 points while being limited to just 29 games during the regular season. He was also held pointless in two postseason games.
A veteran of 850 games with the Dallas Stars, Pittsburgh Penguins, Nashville Predators, Vegas Golden Knights, Flames and Oilers, Neal has 294 goals and 555 points in his NHL career.