Coyotes waive Grabner to buy him out

The Arizona Coyotes placed forward Michael Grabner on waivers for the purpose of a buyout, general manager Bill Armstrong confirmed Saturday.

Here's how it breaks down:

Grabner's agent, Jerry Buckley, told NHL Network's Craig Morgan that his client intends to continue playing.

The Austrian-born winger was originally signed through 2020-21 at a cap hit of $3.35 million. It was to be the final season of his three-year, $10.05-million contract he inked with the Coyotes in July 2018.

Grabner, who turns 33 on Monday, spent the last two campaigns with Arizona. He collected only eight goals and 11 points over 46 games in 2019-20.

The 11-year veteran has also played for the New Jersey Devils, New York Rangers, Toronto Maple Leafs, New York Islanders, and the Vancouver Canucks, the club that drafted him 14th overall in 2006.