The buyout window had previously closed but because the Devils settled all their arbitration cases ahead of time a 48-hour window re-opened, which the Devils have obviously elected to use.
With the Devils fully embracing a youth movement and looking for the likes of Stefan Matteau, Reid Boucher, Sergei Kalinin and Pavel Zacha, among others, to come in and take spots it makes sense to part ways with the 37-year-old forward.