The report states the Panthers will use a traditional buyout, rather than a compliance buyout, on Kuba, who has one season at $4 million left on his contract. That means he will count $1.333 million against the Panthers' salary cap in 2013-14 and 2014-15.
The 36-year-old blueliner had 10 points in 44 games in 2012-13, with an average ice time of 21:13 per game, second-highest on the team.
Chosen by the Panthers in the eighth round (No. 192) of the 1995 NHL Draft, he returned to the team July 1, 2012, when he signed a two-year, $8 million contract.