The Montreal Canadiens have announced that they are placing defenseman Mark Streit on unconditional waivers with the purpose of terminating his contract.
Unlike a buyout, this is mutual - Streit is likely to head back to Switzerland and play in the Winter Olympics.
As stated by Cap Friendly, this will give Marc Bergevin some added flexibility on the salary cap.
Streit was placed on waivers recently and cleared. It was evident right away that the veteran defenseman would not report to the team's AHL club.
The former Stanley Cup winning defenseman had a long and successful career, posting an impressive 434 points in 786 games as a 9th round pick in 2004.