PHILADELPHIA (CBS) – The Flyers have announced they will use their compliance buyout on Danny Briere.

“I met with Danny last week and informed him of our decision to use a compliance buy out on his contract,” Flyers general manager Paul Holmgren said in a statement. “This was a very difficult decision for us to make as Danny has been a very good player for us over the past six years. Danny came to our organization as a free agent in July of 2007 and has been a tremendous player, person and role model in all aspects and for that we thank him. We wish him continued success and best wishes in any future endeavors.”

READ MORE: 4 People Killed, 2 Possibly Unaccounted For In Pottstown House Explosion, Officials Say

Briere had two years remaining on his contract, which would pay him a total of $5 million dollars. However, due to the NHL’s rules in their most recent collective bargaining agreement, Briere’s cap hit would have been $6.5 million per year. The CBA states that the player’s cap hit will be based on the average annual value of the contract, regardless of how much is actually paid each year.

The team will still owe Briere 75% of the value of the contract, but the money will not count against the team’s salary cap in either year. The Flyers still have one compliance buyout they can use.

READ MORE: Philadelphia Eagles To Be First NFL Team To Launch Brand Campaign In Africa

“I just want to say thank you to all the fans and my teammates for the wonderful last six years here,” Briere said via the Flyers website. “Also, I want to thank the Flyers organization for treating me so well during my stay here. I will always be grateful to everyone around the team for my time spent as a Flyer.”

Briere spent six seasons with the Flyers, scoring 124 goals. Briere is well known for his playoff performances, including 30 points in 23 games when the team made a run to the 2009-10 Stanley Cup Final.

MORE NEWS: Wildwoods Island Shuttle Service Launches Ahead Of Memorial Day Weekend