The Vancouver Canucks have bought out the remaining two years of defenseman Keith Ballard's contract.
The 30-year-old Ballard was due to count $4.2 million against the cap over the next two years. Under the buyout terms, the Canucks will pay Ballard $1.4 million a year until 2017.
"We thank Keith for his contributions while in Vancouver and wish him all the best moving forward," the team wrote on its Twitter page.
Ballard had spent the past three seasons with the Canucks. During the shortened 2013 campaign, he posted just two assists in 36 games.
For his career, the Minnesota native and 2002 first-round pick has totaled 36 goals and 129 assists in 545 games with Phoenix, Florida and Vancouver.