Mcilrath, originally a first-round pick (No. 10 overall) by the New York Rangers back in 2010, was acquired by the Panthers in a trade for Steve Kampfer earlier this season. He has been limited to just five games with the Panthers since the trade, logging just 48 total minutes of ice time and scoring a single goal.
Known more for his toughness and physical play, he has also recorded 10 penalty minutes in his limited role this season. He is likely headed back to Springfield of the American Hockey League where he has one goal and one assist in six games this season. The decision to waive Mcilrath comes just after Alex Petrovic returned to the lineup last week following a lengthy absence due to injury.
Mcilrath has appeared in just one game for the Panthers since Dec. 15, playing 8:49 in a shootout loss to the Edmonton Oilers back on Jan. 18.
Thompson, meanwhile, joined the Panthers organization this past offseason and has appeared in 21 games for the big club this season recording three assists in what has mostly been a fourth line role, logging just a little more than seven minutes of ice time per game when he has been in the lineup. The 28-year-old winger has spent much of the season in Springfield where he has 15 points (six goals, nine assists) in 20 games.