The Rangers have officially signed touted prospect Ryan McDonagh out of the University of Wisconsin. McDonagh, a physical defensive defenseman, was acquired as a part of the Scott Gomez trade in June, 2009. Terms of the deal have not been disclosed, but expect something along the lines of the Derek Stepan deal.
Update by Dave: The cap numbers for McDonagh are in, via CapGeek. McDonagh signed a three year, entry level contract with a base salary of $875,000. McDonagh will also receive $425,000 in performance bonuses per year and $87,500 per year in signing bonuses. This total of $512,500 in bonuses puts McDonagh's cap hit at $1.3 million per season.