Mike Ribeiro has been bought out by the Phoenix Coyotes. Ribeiro only ended up spending a single season with Phoenix after they inked him to a four-year, $22 million contract. During that time, he scored 16 goals and 47 points in 80 games. This is a regular buyout as opposed to a compliance one because Ribeiro wasn't eligible for the latter, but it's moot anyways because the Coyotes aren't expected to come close to the ceiling. This was likely a move to cut costs rather than create space.