The New Jersey Devils announced Thursday that they have placed goaltender Cory Schneider on waivers for the purpose of buying out the last two years of his contract.
The 34-year-old had two years left on the seven-year, $42 million contract he signed with the Devils in July 2014.
Schneider was acquired from the Canucks in June 2013 for a first-round draft pick that became Bo Horvat.
Schneider’s first three years in New Jersey were very productive, culminating in a career-high 27 wins in 2015-16 when he skated in the All-Star Game. His last few years with the Devils have not worked out so well. Last year, he skated in only 13 games and posted a 3.53 GAA and .887 save percentage.
Schneider joins a crowded class of free-agent goalies with the likes of Henrik Lundqvist and Corey Crawford.