Dion Phaneuf's time in Hollywood has come to an end.
Phaneuf had two seasons remaining on the seven-year, $49-million deal he signed with the Toronto Maple Leafs in 2013.
Los Angeles will save nearly $3 million as a result of the buyout, and the cap hit will be spread across the next four seasons.
Phaneuf collected only six points in 67 games during his second season with the Pacific Division squad.
The Kings acquired him from the Ottawa Senators at the 2018 trade deadline.
Phaneuf has notched 494 points over 1,048 contests in 14 NHL seasons spent with the Kings, Senators, Maple Leafs, and Calgary Flames, who drafted him ninth overall in 2003.