"Colin White played 11 seasons for the Devils and was an important part of two Stanley Cup championships. As such, Devils general manager Lou Lamoriello admitted today that parting ways with the veteran defenseman was a difficult thing to do.

But Lamoriello nevertheless placed White on waivers, along with newly acquired forward Trent Hunter, and Lamoriello said if the two players clear waivers, the team will buy out the remainder of their contracts.

"This is a hockey and business decision," Lamoriello said of the moves. "Absolutely, this is most difficult. I've had Colin since he was 17. We've had a friendship. But you have to be able to separate that from the business side."

The moves will save the Devils significant money under the salary cap this season. White was under contract for one more season at $3 million, and Hunter — who was acquired Thursday from the New York Islanders for Brian Rolston — was due $2 million for each of the next two seasons. "