The veteran defenseman agreed to terms with the St. Louis Blues on a one-year, $800,000 contract on Friday, the team said.
"Wade is a solid two-way defenseman," said Blues general manager Doug Armstrong in a team statement. "We believe his experience will complement and add stability to our defensive core."
Redden hasn't played in the NHL in two years, spending the 2010-11 and 2011-12 seasons in the American Hockey League playing for the Connecticut Whale, recording 62 points in 119 games. The Rangers hid him in the minors to get his cap hit off the books. His contract was widely regarded as one of the worst in the league, paying him more than $6 million per year.
It was not one of general manager Glen Sather's best moves in New York.
At $800,000 for one year, he could be a useful addition for the Blues.
Along with Scott Gomez (another one of Sather's signings in New York), Redden was the first player to be bought out under the new CBA. The Rangers' initial plan was to sit him down for the remainder of the season and then buy him out before the start of the 2013-14 season, but the NHL and NHLPA reached an agreement allowing teams to perform their compliance buyouts (each team gets two) a year early.
Redden will be joining a St. Louis team that was the best defensive club in the league last season, allowing the fewest shots (26.7 per game) and goals (just 1.89 per game).