Massive news Tuesday as the Minnesota Wild are buying out the final four years of the contracts of Zach Parise and Ryan Suter.
General manager Bill Guerin made the announcement official at 11 a.m., meaning the perennial All-Star forward and defenseman will be placed on waivers and become free agents.
"Zach and Ryan have been an integral part of the Wild's success over the past nine years and we'll always be grateful for their many contributions," said Guerin in a release. "There were numerous factors that entered into the difficult decision to buy out their contracts, but primarily these moves are a continuation of the transformation of our roster aimed at the eventual goal of winning a Stanley Cup."
It was July 4, 2012 when the Wild announced the mega-signings of Parise and Suter, both agreeing to 13-year, $98 million contracts that have yielded few playoff series victories while hamstringing the team's ability in free agency.
Buying the pair out will cost the Wild cap hits of approximately $2.3 million, $6.3 million, $7.3 million and $7.3 million over the next four seasons, respectively, followed by about $833,000 four years after that.
"I want to thank Zach and Ryan for everything they did for our organization over the past nine seasons, both on and off the ice," said owner Craig Leipold. "They were tremendous ambassadors for our team and helped us win a lot of games. I wish them nothing but the best going forward."