The period of time in which NHL teams can buy out a player begins today and lasts until June 30, which means the New York Rangers are now free to buy out the remainder of captain Chris Drury's contract as last week's report stated they would. Now we all know by now that buying out Drury will save the Rangers $3.3 million in cap space, but we have yet to go over how the buyout actually shakes down.
Here's how it goes, and I am doing this with a little help from my friends at CapGeek...
Since Drury is 34-years-old as of today, his buyout ratio is set at 2/3. That means his buyout will spread out over 2 years, therefore there will still be money counting against the cap for the next two years. I think many people were misinformed and thought that buying Drury out will immediately wipe all of his money from the cap - that is wrong.
Drury's buyout sees $3,716,667 count against the cap next season and $1,666,667 the following year. Drury will also continued to be p...
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