Found January 10, 2013 on
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One point of the new CBA that negatively affects the Rangers is the new “Luongo Rule.” This rule was designed to punish teams that circumvented the last CBA and signed players to back-diving deals. The Rangers have one of these deals in Brad Richards, who made $12 million in his two years of his nine-year deal, and sees his salary drop to $1 million by 2017-2018.
The rule states that for players retiring before the expiry of a contract longer than six years, a portion the cap savings from the deal will count against the team. In the Rangers case, Richards has a $6.66 million cap hit, but majority of the money ($57 million) will be paid in the first six years of the deal, with $3 million coming in the final three years.
Richards is signed until he is 39 years old, but his $1 million annual salary begins during his age-37 season. Now, it is unlikely that Richards would retire at age 37, but it is entirely possible that Richards retires with one or two years remaining on his deal. At this point, the Luongo Rule would kick in, and the Rangers would still have to deal with having a retired player on their payroll.
Let’s run the scenario of Richards retiring with two years remaining on his deal. The Rangers will have paid him $58 million over seven years (cap hit of $8.28 million), but only suffered a cap hit of $6.66 million ($46.62 million total). This total cap savings is $11.38 million over those seven years. The Rangers would be left with that savings of $11.38 million as a cap hit, spread out over the last two years of the deal. That’s a whopping $5.69 million in dead cap space for two years.
If Richards retires with one year remaining on his contract, then the Rangers will have paid him $59 million over eight years (cap hit of $7.375 million), but only suffered the same $6.66 million cap hit ($53.28 million total). The total cap savings here is $5.72 million. Since there would only be one year remaining on his deal, the Rangers would have a $5.72 million cap hit.
If Richards gets traded, and retires before the contract expires, then the Rangers would still have a cap hit to deal with, but it would be significantly less. That’s unlikely though, as Richards has a no-move clause.
While the purpose of this rule is to penalize teams that circumvented the previous CBA, it’s unlikely that this will actually become a problem for the Rangers. Richards’ contract expires after his age-39 season, unlike a good number of these deals which go well into a players’ 40s. There is also a significant possibility that the Rangers just place Richards on LTIR to remove the cap hit entirely.
Naturally, the LTIR loophole was not addressed.
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The New York Rangers have given permission to Wade Redden's agent to talk to other NHL teams to try to arrange a trade, the New York Post's Larry Brooks reported. Redden, a defenseman, has two years remaining on a six-year, $39 million deal, but he spent the past two seasons in the minors and is not in the Rangers' plans. He will not be invited to the Rangers'...
Bret Cyrgalis at the New York Post reports that during his first day back with his Rangers teammates, Chris Kreider took a puck to the face necessitating three or four stitches.
Apparently, during a 3-on-1 drill, he just missed taking a pass and lunged forward, and the puck deflected off the stick of Anton Stralman sending it quickly into his upper lip.
Here's the damage...
It only took five months, but Andrew Gross at the Bergen Record reports that Rick Nash, Brad Richards and Marian Gaborik finally practiced on a line together during informals today.
Here's Nash on playing with his new teammates...
“It’s fun to play with them, it seems like they always find you. We’ve got to make sure we get some chemistry quick. We’ve got to figure...
On Tuesday, Cosmopolitan released their 2013 list of hottest hockey players. Apparently, the way they decided to create the list was to have their readers nominate a hottie from each team.
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Per Jim Cerny, both Chris Kreider and Matt Gilroy are skating at “camp” today. While Kreider was an expected Whale camp invitee, Gilroy’s status was always a bit up in the air. With his inclusion in camp, two things are assumed: 1) Gilroy will likely get an NHL contract when the league resumes business as usual on Sunday (this could be dependent on how he performs at camp...
Bob McKenzie at TSN reports that according to the new CBA if Wade Redden were to be injured while playing with the Whale or the Rangers this season and it carried over into the summer the Blueshirts would be ineligible to buy him out.
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TSN had an article earlier this week titled: “Leafs stand to benefit from new CBA”. Of course, this is presumptive from TSN. When...
Get ready for hockey.
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Since after that point the Celtics do not have another home game scheduled until Jan. 24, a Jan. 21 game against the Maple...
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Joining the workouts today are @martybiron43, @mgaborik10, @chriskreider and Matt Gilroy
— New York Rangers (@NYRangers) January 9, 2013
Here's the glorious proof of Kreider's camp presence (via NY Rangers)...
...with the way Kreider has played for the Whale this season, I'm assuming he couldn't get to Rangers camp quick enough.
A few random comments for ya'll on this wonderful, cold Friday:
- The Michael Del Zotto rumor I mentioned yesterday...People covering the Rangers are reporting the team is attempting to negotiate a new deal with Del Zotto over the next 48 hours. It's not all bad news, Oilers fans. I'm not sure Del Zotto is the solution we're looking for. I'm not saying he&...
Yesterday, John Tortorella was a guest on the Michael Kay radio show (ESPN NY Radio)...
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...you can just tell by listening to Tortorella that he is chomping at the bit to get going again. Having said that he seems very mindful of the potential for injuries this year and is already planning on how to combat...
Bergen Record - NHL lockout gave Rangers' Marian Gaborik time to heal shoulder injury
Bergen Record - Gross: Will NHL season be short on quality?
New York Post - After the lockout, Gaborik has health & high expectations
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Remember to follow...
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New York Post - Rangers’ Lundqvist amped for run at Cup
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Barton Silverman/The New York Times
The Ottawa Senators nabbed the eighth and final playoff spot in the Eastern Conference last season with 92 points in 82 games. That works out to an average of 1.12 points per contest, which equates to roughly 53 points in a lockout-shortened 48-game season.
In 2010-2011, 93 points was enough to grant the Blueshirts the final playoff spot, which...