The New Jersey Devils placed goaltender Cory Schneider on unconditional waivers Thursday for purposes of a buyout.
The 34-year-old has two seasons remaining on his contract at a $6 million cap hit. The buyout will save the Devils $4 million in each of the next two seasons, but add a $2 million cap charge in the following two years.
Schneider said in May he hadn't "entertained thoughts of retirement at all" and remained focused on playing out his contract and contributing to the Devils. He split time this past season between the Devils and their AHL affiliate in Binghamton. In 13 NHL games, he had a 3-6-2 record with a .887 save percentage and a 3.53 goals-against average.
"I have two years left on my contract and my obligation and my goal is to do that and see where it goes from there," Schneider told NHL.com at the time. "I'm not naive to the business side of things, but feel that when I'm playing well, I can do a lot for our team on the ice and off the ice. That's the role that I want to fill."
Acquired from the Vancouver Canucks in 2013, Schneider has appeared in just 39 games for the Devils over the past two seasons after undergoing hip surgery. He appeared in a career-high 69 games with the team in 2014-15 and topped 57 appearances in each of the following two seasons.