The Edmonton Oilers have decided to buy out the last year of defenceman Sheldon Souray's $4.5-million contract, ending a disappointing four-year run with the franchise.
Souray signed a five-year free-agent contract with Edmonton but spent two of those years hurt. He suffered a concussion during his third season with the team and then broke his hand during a fight with Flames forward Jarome Iginla months later.
Last year, Souray was on loan to the Hershey Bears, the Washington Capitals' American Hockey League affiliate, before breaking his hand in a fight and spraining his knee. He had 19 points and 85 penalty minutes in 40 games with Washington's minor-league affiliate.
Souray has been placed on waivers for the purpose of buying him out at 66 cents on the dollar. The Oilers will face a cap hit of $3.56-million, spread over two years.
The Oilers also re-signed defenceman Ladislav Smid to a two-year contract reportedly worth $2.25-million per season. Smid, 25, had 10 assists and 85 penalty minutes in 78 games with the Oilers last season.
The 6'3", 225-pound defenceman has spent the past five seasons with Edmonton after being acquired from Anaheim in 2006. He was originally drafted in the 1st round, 9th overall, in the 2004 NHL Entry Draft by Anaheim.