The New York Rangers have placed Tony DeAngelo on unconditional waivers for the purpose of buying out the last year of his contract.
Lean Bergmann on unconditional waivers from SJ, along with DeAngelo (NYR)— Elliotte Friedman (@FriedgeHNIC) July 23, 2021
DeAngelo was placed on waivers back in February, and was sent home after he cleared. He will become a free agent following the buyout, and subsequently free to sign with any team in the league. The Rangers were willing to mutually terminate DeAngelo’s contract in April so he could become a free agent, and the Montreal Canadiens were one of the teams very interested in his services.
He ultimately declined to do so, and it will be interesting to see how many suitors there are for DeAngelo this summer.
From a financial perspective, the Rangers will be paying 1⁄3 of the remaining value of his contract since he is under the age of 26, and a total cost of $1,766,667 split over two years. For the upcoming season the team will gain a cap credit of $4,416,666, and during the 2022-23 season they will incur a dead cap hit of $833,334.