From the Canadian Press:

A person familiar with discussions confirms Danny Briere is set to become a free agent after the Philadelphia Flyers informed the veteran forward they intend to buy out the final two years of his contract.

The person spoke on the condition of anonymity Wednesday because the Flyers have not announced their decision. ESPN.com first reported Briere's pending buyout Tuesday evening.

The Flyers still owe Briere $5 million as part of the eight-year, $52 million contract he signed in free agency on July 1, 2007. He's a 15-year NHL veteran, who had six goals and 10 assists in 34 games last season.

A seven-time 25-goal scorer, Briere's production has tailed off as a result of various injuries, including a concussion.

The move will shave $6.5 million off the Flyers' salary cap.