P.A. Parenteau bought out by Canadiens

The Montreal Canadiens bought P.A. Parenteau out of his contract Monday, shortly after he cleared unconditional waivers.

General manager Marc Bergevin issued this statement via the team's official website:

I would like to thank Pierre-Alexandre for his time as a Montreal Canadien and wish him the best with his career. 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.

Parenteau had one season and $4 million remaining on his deal. He will receive the bulk of that money and have the opportunity to seek employment elsewhere, while the Canadiens will incur a cap penalty.