Previously signed through the upcoming season with a cap hit of $7.8 million, the Washington Capitals had retained half of that amount at the trade deadline in March. With the contract termination, both teams are free from his cap hit.
Kuznetsov, who was acquired for a third-round pick, scored two goals and seven points in 20 games with the Hurricanes to end the season and added four goals and six points in 10 playoff games.
Before the trade, he had six goals and 17 points in 43 games with the Capitals, missing time while in the NHL/NHLPA player assistance program. After being cleared to return, Washington placed Kuznetsov on waivers, and he was traded to the Hurricanes just days later.
Selected 26th overall by the Capitals in the 2010 draft, Kuznetsov has 173 goals and 575 points in 743 NHL games. The Chelyabinsk, Russia native won the Stanley Cup with the Capitals in 2018, contributing 12 goals and 32 points in 24 games during that playoff run.