Khabibulin is entering the final season of a four-year, $27 million contract. He joined the Blackhawks from Tampa Bay as a free agent after leading the Lightning to the 2004 Stanley Cup.
The Blackhawks signed free-agent goalie Cristobal Huet to a four-year, $22.5 million deal in July, giving them two top goaltenders.
Khabibulin was the Blackhawks' highest-paid player until defenseman Brian Campbell signed an eight-year, $56.8 million free-agent contract with the team on July 1.
But Khabibulin has been inconsistent and injured over the past three seasons. In 2007-08, he appeared in 50 games, posting a 23-20-6 record with a 2.63 goals against average and .909 save percentage.
"We're going to do what's best for the Chicago Blackhawks," general manager Dale Tallon said in August about the two No. 1 goalies. "If that means keeping Nick, we'll do that. If not, we'll move on."
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He notified the team of his decision after Sunday's exhibition win over Philadelphia. Hurricanes president and general manager Jim Rutherford said it's difficult for a player who sat out for a season to return to the league, but that O'Neill looked fine in training camp.
O'Neill was a key scorer on the Hurricanes team that reached the 2002 Stanley Cup finals.
The two sides reached an agreement to release him from the training camp roster.
The Blackhawks signed free-agent goalie Cristobal Huet to a four-year, $22.5 million deal in July, giving them two top goaltenders.
Khabibulin was the Blackhawks' highest-paid player until defenseman Brian Campbell signed an eight-year, $56.8 million free-agent contract with the team on July 1.
But Khabibulin has been inconsistent and injured over the past three seasons. In 2007-08, he appeared in 50 games, posting a 23-20-6 record with a 2.63 goals against average and .909 save percentage.
"We're going to do what's best for the Chicago Blackhawks," general manager Dale Tallon said in August about the two No. 1 goalies. "If that means keeping Nick, we'll do that. If not, we'll move on."
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O'Neill calls it quits on comeback bid with Hurricanes
He notified the team of his decision after Sunday's exhibition win over Philadelphia. Hurricanes president and general manager Jim Rutherford said it's difficult for a player who sat out for a season to return to the league, but that O'Neill looked fine in training camp.
O'Neill was a key scorer on the Hurricanes team that reached the 2002 Stanley Cup finals.
The two sides reached an agreement to release him from the training camp roster.