"Today's decision was a very difficult one," Rangers president John Davidson said in a release. "Kevin is a great person and teammate and he was extremely proud to be a New York Ranger. We wish him and his family all the best going forward."
Shattenkirk had two years remaining on the four-year, $26.6-million pact he inked with the Rangers on July 1, 2017. The deal carried a cap hit of $6.65 million.
Here's a look at the breakdown of what Shattenkirk will cost the Rangers over the next four years:
Because Shattenkirk has a no-movement clause in his contract, the Rangers weren't required to place him on unconditional waivers before buying him out.
Shattenkirk collected 28 points in 73 games with New York this past season after producing 23 in 46 contests during his first campaign with the Rangers in 2017-18.
The former member of the Colorado Avalanche, St. Louis Blues, and Washington Capitals averaged only 18:56 in ice time for New York in 2018-19, ranking fifth on the club among blue-liners.
Once a productive offensive defenseman and power-play quarterback, Shattenkirk posted five straight 40-point seasons (excluding the lockout-shortened 2012-13 campaign) from 2011-17. A torn meniscus in January 2018 derailed his first season with the Rangers.