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New York Rangers Sign Alexis Lafrenière to Three-Year Entry-Level Contract

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2020 NHL Draft - Round One Photo by Mike Stobe/Getty Images

The New York Rangers have officially signed No. 1 overall pick Alexis Lafrenière to a three-year entry-level contract.

The deal comes with full bonuses, as has been customary for No. 1 overall draft picks.

His jersey number will be No. 13.

With Lafrenière now under contract officially, the Rangers have $18,804,367 in on paper cap space. But when it comes to bonus threshold for players, the Rangers are already projected to be over the 7.5% allowed ($6,112,500 of an $81.5 million cap) and anything over that amount is held against the salary cap to start the season which could be as much as $4.8 million.

This means the team’s working cap space is actually about $14 million, although some bonus money can get deducted from the threshold as certain conditions become impossible to meet.

Ryan Strome, Tony DeAngelo, Alexandar Georgiev, Phil Di Giuseppe and Brendan Lemieux are the Rangers’ outstanding free agents, with all but PDG having filed for salary arbitration.