Brisebois was to have earned $3.4 million next season after the leaguewide 24 percent pay cut agreed to in the new collective bargaining agreement.
The 34-year-old Brisebois has spent his entire NHL career with Montreal and was the last remaining member of the Canadiens' 1993 Stanley Cup champion team.
The defenseman has 79 goals and 263 assists in 791 games.
Montreal also declined the option on minor-league forward Gavin Morgan. He played 76 games for Hamilton of the AHL last season,
where he scored 10 goals and added 23 assists.
Phoenix Coyotes: The team reduced season ticket prices by an average 12.8 percent for almost 15,000 of Glendale Arena's 17,799 seats.
"We came off a work stoppage, and we want to encourage fans to come out here," team president Doug Moss said. "This building has only been open a short time. We want to get families back here and say thank you to the people who have stayed loyal and true to us and really give back to them."
The changes do not affect single-game tickets. The average price in season seats affected by the reductions will be $31.10 per game, compared with $35.66 for the 2003-04 season.
Over 5,000 seats will be available for $15 or less, and 4,387 seats in the lower bowl will be priced at $49 or less.
The club scaled back the highest-priced available seats behind the team benches from $95 to $87, an 8.4 percent reduction. The only seats in the arena not reduced were those in the first two rows behind the glass, luxury suites and the Lexus Club.
Los Angeles Kings: In an effort to win back fans after the NHL lockout, the Kings have reduced season ticket prices by 5 percent.
Season center ice seats will be lowered to $92.50 a game from $97.50, which was charged during the 2003-04 season.
Individual game ticket prices will remain the same, the Kings said. The cheapest single-game ticket in the upper corners of Staples Center remain at $24.50. Center ice seats stay at $115.50.
In 2003-04, the Kings had the 23rd-lowest average ticket price among the 30 NHL clubs.
"We have the most passionate and loyal fans in the National Hockey League and our goal is to continue to provide them with affordable ticket prices," club president Tim Leiweke said.
Also, the team will expand from 500 to 1,000 seats a section of $10 season tickets.
The Kings will offer free admission to their Sept. 17 preseason game against the Mighty Ducks at Staples Center.