The Toronto Maple Leafs announced their decision to buy out Jared Cowen during the regular season, yet the defenceman remains on the roster despite being placed on waivers on June 15.

TSN Hockey Insider Bob McKenzie reports Cowen's medical status is holding up the transaction.

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Both Toronto's management and Cowen's representatives refused to comment to McKenzie, who notes an injured player cannot be bought out.

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Cowen arrived in Toronto as part of the return for defenceman Dion Phaneuf. Cowen did not dress in a single game for the Maple Leafs and the team announced they would buy him out this summer after the league's trade deadline passed.

The 25-year-old is dealing with a hip injury.

Cowen's buyout would be one-third of his $4.5 million salary or $1.5 million spread out over two years or twice the number of years remaining on the contract.

The move would open up $650,000 in cap space for next season but would cost the Maple Leafs $750,000 in cap room for the 2017-18 season, when Cowen would have been off the books.

The 2009 first round pick played parts of six seasons with the Senators, scoring 15 goals and adding 31 assists for 46 points in 249 games.