Larry Brooks at the New York Post reports that the Rangers have given Wade Redden permission to speak with other NHL teams about a possible trade.
Under the new CBA, teams can retain some (up to 50%) of the player's salary/cap they are trading. Brooks thinks this might be an option the Rangers use to entice a team into a trade for Redden, who has another year left on his contract worth $6.5 million per. Brooks says the Rangers would only want to retain remaining salary/cap for this season, however, the new CBA says they'd have to retain it for the entire contract (end of 2013-14 season).
So if they trade Redden and maintain half his salary, the cap hit for the next two years would be just $3.25 million per.
If the Rangers decide to hold on to Redden, they would incur a cap hit of $6.5 million this season, but could buy him out for $3.335 million this summer and not have a cap hit next year.
This year's cap ceiling of $70.2 million falls to $64.3 million next season.