Canadiens buy out final year of Parenteau's contract

Montreal, QC (SportsNetwork.com) - The Montreal Canadiens have bought out the contract of forward Pierre-Alexandre Parenteau, the team announced Monday.

Parenteau, who went unclaimed through waivers, had one year left on his contract at $4 million. He will count $1.33 million against Montreal's cap for the next two years.

"I would like to thank Pierre-Alexandre for his time as a Montreal Canadien and wish him the best with his career," general manager Marc Bergevin said. "It was a difficult decision to make, but we feel it gives us more flexibility as we continue to improve our club and provide our young prospects with an opportunity to earn a spot on our roster."

The 32-year-old Quebec native was acquired by the Canadiens from the Colorado Avalanche a year ago. He played in 56 games this past season for Montreal, registering eight goals and 14 assists. He added one goal and one assist in eight playoff games.

Parenteau has produced 81 goals and 227 points in 347 career games with the Chicago Blackhawks, New York Rangers, New York Islanders, Avalanche and Canadiens.