The Penguins identified Tristan Jarry as their No. 1 goalie and signed him to a three-year, $10.5 million contract Saturday, which made Murray expendable.
Murray, who won the Stanley Cup with the Penguins in 2016 and 2017, is Ottawa's replacement for Craig Anderson, who will be one of many goalies available as a free agent.
"Without a doubt, we feel Matt is a No. 1 goalie in this league," Senators GM Pierre Dorion said. "Our goaltending coach, Pierre Groulx, feels really high on his potential and to be the goalie he was just a year or two ago."
Brian Elliott will not be available after he signed a one-year, $1.5 million contract to remain with the Philadelphia Flyers on Saturday. But the market still is loaded.
Braden Holtby (Washington Capitals), Jacob Markstrom (Vancouver Canucks),
Henrik Lundqvist
(New York Rangers), Corey Crawford (Chicago Blackhawks), Thomas Greiss (New York Islanders), Anton Khudobin (Dallas Stars), Cam Talbot (Flames) and Mike Smith (Edmonton Oilers) are expected to be unrestricted free agents.
The Vegas Golden Knights are exploring ways to trade goalie Marc-Andre Fleury, who has two years remaining on his contract ($7 million NHL salary cap charge), after they signed Robin Lehner to a five-year, $25 million contract Oct. 3.
The NHL salary cap will remain at $81.5 million for next season, which is targeted to begin Jan. 1, 2021.
"It's a bit unusual the goalie market and the way it is," Guerin said.