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The Arizona Coyotes announced Friday they have initiated a buyout of the remaining three years of center Mike Ribeiro's contract.
"We wish Mike the best of luck in the future and thank him for his contributions with the Coyotes," general manager Don Maloney said in a statement.
Ribeiro had 16 goals and 31 assists in 80 games for the Coyotes in 2013-14 after signing a four-year contract last July. He becomes an unrestricted free agent and can sign with any team other than the Coyotes.
Ribeiro, 34, has 202 goals and 656 points in 865 NHL games.
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