Clearing waivers and on his way to Bridgeport, Rick DiPietro may be close to parting ways with the New York Islanders organization.

According to’s Katie Strang, a buyout of the ‘old school’ variety, $1.5 million until 2029 as per could be in the cards for the struggling netminder.

“The Islanders could choose to exercise a transition buyout on the 31-year-old this summer. Each team was provided two of these in the new collective bargaining agreement, to be used in the summers of 2013 and 2014. The team could also elect to employ the traditional buyout rule, which would allow the team to retain his cap hit. That may be the most desirable option for the club, which has barely hovered above the cap floor in recent seasons. Until the Islanders decide whether or not to buy him out — the team has previously used buyouts on Alexei Yashin and Brendan Witt  the club will pay both his salary and be charged for his cap hit.Per the rules of the new CBA, DiPietro will still carry a $3.6 million (prorated) hit on the team’s salary cap this year.”

Subscribe to NHL Trade Report updates on Facebook, on Twitter, by Email, or RSS.