New York Rangers Breaking News: Callahan Inks New Three-Year Deal

Just as we all expected the worst for the New York Rangers and Ryan Callahan, the forward agreed on a new deal with the Rangers. Callahan was scheduled for an arbitration hearing tomorrow morning. Just as Dubinsky, Callahan's deal came hours before his scheduled hearing.

The deal will supposedly pay Callahan a total of $13 million over three-years. Averaging a total cap hit of $4.3 million per season. Here is how the money will be broken down: 2 years at $4 million and the final year at $4.875 million. The deal will also not include a no-trade or no-movement clause.

Callahan was the final RFA left to sign for the Rangers this off-season. Callahan appeared in 60 contests last season with the Rangers, totaling 23 goals and 25 assists.

As a result of Callahan's new deal, a second buyout window will be available if the Rangers choose to use it. The contract allows the two sides to avoid arbitration. Which, as outlined in a story Joe published about twenty minutes before he signed, would have had significant consequences.

Official New York Rangers press release after the jump.



New York, July 27, 2011 - New York Rangers President and General Manager Glen Sather announced today that the club has agreed to terms with forward Ryan Callahan on a new contract.

Callahan, 26, captured a silver medal with Team USA at the 2010 Winter Olympic Games in Vancouver, Canada, and is a two-time Steven McDonald Extra Effort Award winner (2008-09 and 2009-10). The Rochester, New York native has served as the Rangers' Alternate Captain for the last two seasons.

Callahan skated in 60 games with the Rangers last season, registering 23 goals and 25 assists for 48 points, along with 46 penalty minutes. He captured the Players' Player Award, as voted by his teammates, and the John Halligan Good Guy Award, selected by the NY chapter of the PHWA, which recognizes players' cooperation with the media. Callahan established career-highs in goals, assists and points despite missing 22 games due to injury. He led the team with career-highs in power play goals (10) and game-winning goals (five), ranked second in goals and power play points (15), and tied for second in points. He also ranked second on the team and 15th in the NHL with 224 hits, and fifth among league forwards with 77 blocked shots. The Rangers posted a record of 14-3-1 when he tallied a goal and were 24-7-1 when he registered a point.

Callahan led the Blueshirts in scoring with 13 goals and 25 points in 28 games following his return from injury on February 1, after missing the previous 19 games due to a broken hand suffered on December 15 at Pittsburgh. At the time of his injury, Callahan ranked second in the NHL with 128 hits and first among forwards with 40 blocked shots. He ranked second on the team with a career-high, 11 multi-point performances, including his first career hat trick with four goals and a career-high, five points in a 7-0 win vs. Philadelphia on March 6. On November 15 at Pittsburgh, Callahan posted a Gordie Howe Hat Trick with his first career overtime goal, a shorthanded assist and a fighting major. He recorded a career-high, seven-game scoring streak from October 21 at Toronto to November 1 vs. Chicago (four goals, seven assists over the span), including a career-high, four-game goal streak from October 24 vs. New Jersey to October 30 at Toronto (four goals). Callahan notched his first career penalty shot goal on October 30 at Toronto, and registered his 100th career point with an assist on the game-winning goal on October 23 at Boston.

The 5-10, 190-pounder has skated in 284 career NHL contests with the Rangers, registering 76 goals and 68 assists for 144 points, along with 179 penalty minutes. Callahan has reached the 40-point plateau and surpassed the 20-goal mark in two of the last three seasons. He was originally named Alternate Captain on October 2, 2009. Callahan has registered 200-plus hits in each of the last three seasons, and ranked third in the NHL in 2009-10 with a career-high, 285 hits and fourth in 2008-09 with 265 hits. He made his NHL debut on December 1, 2006 at Buffalo, and tallied his first career NHL point with a two-goal performance on March 17, 2007 vs. Boston. In addition, Callahan has registered six goals and three assists for nine points, along with 20 penalty minutes in 27 career playoff contests. He notched his first career NHL playoff point with a pair of goals on April 17, 2007 vs. Atlanta.

Callahan was originally selected as the Rangers' fourth round choice, 127th overall, in the 2004 NHL Entry Draft.