Reports surfaced earlier this week indicating that Holmgren had met with Briere last week to discuss the team's plans. On Thursday, Holmgren confirmed the decision to Flyers inside reporter Anthony SanFilippo, via the Flyers website:
"I met with Danny last week and informed him of our decision to use a compliance buyout on his contract. 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."
The decision to buy out Briere was based upon the declining salary cap of $64.3 million for the 2013-14 season. Briere's contract carries an annual average value of $6.5 million against the salary cap for the next two seasons. Including Briere, the Flyers have over $75 million in cap commitments. Obviously, the team needs to shed space in order to become compliant and Briere's $6.5 million subtraction is one way to work towards it.
Per the collective bargaining agreement, this year's compliance buyout period begins 48 hours after the deciding game of the Stanley Cup Final. It will conclude at 5 p.m. ET on July 4. Briere will become an unrestricted free agent on July 5 (Philadelphia is not permitted to re-sign Briere).
The Flyers will have one more compliance buyout available to use either this summer or next.