New York Rangers Buy Out Tony DeAngelo
The New York Rangers have bought out Tony DeAngelo.
OFFICIAL: #NYR have bought out the contract of defenseman Tony DeAngelo.
— New York Rangers (@NYRangers) July 24, 2021
DeAngelo cleared unconditional waivers, and is now a free agent.
From a financial perspective, the Rangers are 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.
According to Cap Friendly, the Rangers currently have a roster size of 19, and $21,875,198 in cap space. Phil Di Giuseppe is a UFA, Filip Chytil is an RFA at forward. On defense, Brendan Smith is a UFA who will not be re-signed, and Libor Hajek is an RFA. Igor Shesterkin will also need a new contract, and he’s an RFA with arbitration rights.
The Rangers will have cap space to make improvements after factoring in these new deals, and it remains to be seen what Chris Drury’s plan is, outside of changing the makeup of the team’s bottom six.