Embattled defenseman Jared Cowen cleared waivers Thursday, making him eligible to be bought out by the Toronto Maple Leafs.
Toronto will earn a $650,000 cap credit with Cowen's impending buy out, but the transaction will cost them $750,000 in valuable cap space in 2017-18, Sportsnet's Chris Johnston reports.
Cowen was acquired in the trade that sent former Maple Leafs captain Dion Phaneuf to the Ottawa Senators.
His tenure will come to an end without dressing for the Maple Leafs.
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