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.
In line with all 1st overall picks, Alexis Lafreniere's deal with the #Rangers is set at the EL max— CapFriendly (@CapFriendly) October 12, 2020
$11.325M total value
$832,500 Base Salary (all 3 yrs)
$92,500 Signing Bonus (all 3 yrs)
$850k Sched 'A' Bonus (all 3 yrs)
$2M Sched 'B' Bonus (all 3 yrs) https://t.co/Vm819WHPag
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.