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The truth about the New York Rangers salary cap situation

By Jason Katinas

VANCOUVER, BRITISH COLUMBIA - JUNE 21: (L-R) John Davidson and Jeff Gorton of the New York Rangers attends the 2019 NHL Draft at the Rogers Arena on June 21, 2019 in Vancouver, Canada. (Photo by Bruce Bennett/Getty Images)
VANCOUVER, BRITISH COLUMBIA - JUNE 21: (L-R) John Davidson and Jeff Gorton of the New York Rangers attends the 2019 NHL Draft at the Rogers Arena on June 21, 2019 in Vancouver, Canada. (Photo by Bruce Bennett/Getty Images) /
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Ryan Strome and Tony DeAngelo of the New York Rangers (Photo by Bruce Bennett/Getty Images) /

Restricted free agents: Quality in the qualifying offer

Of the nine roster spots at the NHL level, the Rangers own the negotiation rights to five RFA’s. Phillip Di Giuseppe, Ryan Strome, Brendan Lemieux, Tony DeAngelo and Alexandar Georgiev will all require new contracts to retain and all have arbitration rights. Each brings different levels of salary and roster management considerations.

Tony DeAngelo is coming off a career season where he ranked fourth in the NHL among defensemen in points scored (53 points). He has already been extended a qualifying offer to ensure the Rangers retain his negotiating rights. It should be expected that he will receive a significant increase to his previous contract of $925,000 average annual value (AAV). Should the Rangers wish to retain the offensive defenseman, a new contract in the range of five million per season appears to be the starting point of negotiations.

Similarly, Ryan Strome is coming off a career high season, recording 59 points. He too is due a raise over his previous $3.1 million AAV contract. Also, like DeAngelo, It should be expected that negotiations with Strome will begin in the range of five million dollars AAV. The retaining of these two RFA’s will cost the Rangers nearly half of their available cap space. Further, should they choose to trade their rights, the salary costs of the player(s) gained in return need to be factored in.

Brendan Lemieux had an effective season as a third and fourth line player. He brought some much needed grit and toughness to the line-up. He will be due a small raise over his previous contract ($925,000 AAV), bringing him near a two million dollar AAV salary.  Phillip Di Giuseppe, if he is offered a contract, it will either be as the thirteenth forward or for the Hartford Wolf Pack. It should not be expected that he receive anything more than a minimum qualifying offer of $735,000 AAV.

Alexandar Georgiev brings a different set of circumstances. With the buyout of Henrik Lundqvist complete, Georgiev has the most NHL experience of any goaltender in the organization. It is expected that he will be the back-up to Igor Shesterkin, but what is that worth. Steve Paulus, based on comparable goaltending salaries, expects Georgiev to receive a contract of at least $1.5 million AAV, but less than $3 million AAV.

If the salary expectations for these RFA’s come to fruition, the Rangers will utilize about $14 million of their available cap space to fulfill just five of the nine roster spots spots required. That leaves roughly nine million to fill the remining four open roster spots and to leave enough to cover ELC performance bonuses.

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