The Minnesota Wild are buying out longtime fixtures Zach Parise and Ryan Suter, according to Michael Russo of The Athletic.

Parise and Suter joined the Wild a little more than nine years ago on the Fourth of July. They both got 13-year, $98 million contracts when they signed with the franchise in 2012 and played key roles throughout their tenure.

They're now getting bought out with four years left on their respective contracts and will become free agents. Russo has the details on their deals and how this will affect the Wild:

The Wild will pay each $6.7 million over the next eight years and be charged with $2.371 million, $6.371 million and $7.371 million cap hits in the next four years, respectively, for each, then $833,333 cap hits the four years after that for each.

This gives the Wild another $10.33 million in cap space to play with this summer.

The Wild made the playoffs this season after finishing in third place in the West Division with 75 points. Unfortunately, Minnesota lost to the Las Vegas Golden Knights in seven games in the first round of the playoffs.

The Wild are now moving on from two veterans in order to create more flexibility moving forward. Parise is turning 37 years old later this month, while Suter turned 36 in January. Minnesota will likely look to get younger after buying out these two players.