A Henrik Lundqvist buyout decision is coming soon
By Steve Paulus
The NHL buyout window begins on September 25 and that means it’s decision time for the New York Rangers
The first key off-season date for the NHL is Friday, September 25. That’s when teams like the New York Rangers can buy out the contracts of players like Henrik Lundqvist, Brendan Smith and Marc Staal. The Rangers will have until 5pm EST on October 8 to decide what they will do.
That means two weeks of uncertainty unless the Rangers move quickly and buy out any players when the window opens. Here’s what buying out Lundqvist, Smith and Staal means.
Henrik Lundqvist – One year left on his contract with an actual cost of $5.5 million in salary and bonuses. He has a no-movement clause so cannot be traded or buried in the minors.
- 2020-21 cap hit: $8.5 million
- 2020-21 buyout cap savings: $3 million
- 2021-22 buyout cap hit: $1.5 million
Brendan Smith – One year left on his contract with an actual cost of $3.35 million in salary and bonuses . He has a modified no-trade clause, submitting a list of 10 teams he can be traded to. He can be buried in the AHL and that would save $1 million in cap space.
- 2020-21 cap hit: $4.35 million
- 2020-21 buyout cap savings: $1,566,667
- 2021-22 buyout cap hit: $783,333
Marc Staal – One year left on his contract with an actual cost of $4.2 million in salary and bonuses He has a no-movement clause so cannot be traded or buried in the minors.
- 2020-21 cap hit: $5.7 million
- 2020-21 buyout cap savings: $2,133,333
- 2021-22 buyout cap hit: $1,066,667
Buyout history
It may seem like the Rangers are buyout happy, but they have really bought out only three players in franchise history. The buyouts of Wade Redden and Brad Richards had no cap impact a they were compliance buyouts. That said, the Rangers paid a heavy price when they bought out the three other players: Chris Drury, Dan Girardi and Kevin Shattenkirk.
The Rangers bought out the last year of Drury’s five-year, $35 million contract in 2011. The Girardi buyout came in 2017 and the cap hit extended for six years. There are two more seasons of an annual cap hit of $1.1 million before the Rangers are free from Dan Girardi’s deal.
The Shattenkirk buyout was last summer and it will cost the Rangers $6,083,333 in cap space in 2020-21 and $1,433,333 for the two following seasons. It had to be done in order for the Blueshirts to be able to meet their payroll and stay under the cap ceiling.