Goaltender Andrew Raycroft is no longer a Toronto Maple Leaf.
The Maple Leafs will buy out the final year of his contract after placing the 28-year-old on unconditional waivers.
"We decided to go that route," said general manager Cliff Fletcher. "We wish Andrew all the best."
Raycroft spent two years in Toronto but was relegated to the backup role last season after the Maple Leafs acquired Vesa Toskala in a trade.
Toronto will be on the hook for two-thirds of his 2008-09 salary of $2.2 million US.
Raycroft's waiving was not a surprise. He posted a 2-9-5 record, 3.92 goals-against average and .876 save percentage this past season, last winning in November.
During the 2006-07 campaign, Raycroft set a franchise record with 37 wins in 72 games.
He was signed to a three-year deal before playing a game with the Maple Leafs after being traded from Boston in 2006 for goalie prospect Tuuka Rask.
Raycroft is the second player to be bought out by the Maple Leafs this week.
Forward Darcy Tucker had the final three years of his contract purchased on Tuesday, with the Leafs assuming a salary cap hit of $1 million per season over the next six years.