According to a report in the Tampa Tribune, the Lightning has informed left winger Vaclav Prospal they are going to buy out the final three years of his contract.
Prospal signed a four-year, $14 million deal with the Lightning last year.
Tampa Bay will be charged $1.167 million of their cap space for each of the next six seasons as a result of the buyout.
Prospal can either accept the buyout or choose to go through waivers instead.
The Czech Republic native had 19 goals and 45 points in 82 games last season.