The Florida Panthers have found use for their newfound cap space.

Shortly after buying out blue-liner Keith Yandle on Thursday, the club announced it has re-signed pending restricted free-agent defenseman Gustav Forsling on a three-year deal.

The contract carries an annual cap hit of $2.66 million, according to TSN's Pierre LeBrun.

Forsling registered five goals and 12 assists in 43 games this past season while averaging 19:57 per contest. He was a favorite of head coach Joel Quenneville after the two spent parts of three seasons together with the Chicago Blackhawks.

The 25-year-old posted strong underlying numbers this past year and projects to fill a top-four role with the Cats moving forward:

The Panthers are expected to protect Forsling as their No. 3 defenseman behind Aaron Ekblad and MacKenzie Weegar in the upcoming expansion draft, according to FloridaHockeyNow's George Richards.

Florida claimed Forsling off waivers from the Carolina Hurricanes in January.