New York Rangers News: Wade Redden Placed On Waivers In Preparation For Buyout

In preparation for tomorrow's buyout, the New York Rangers have placed defenseman, Wade Redden, on waivers. Redden must clear waivers by noon tomorrow in order to be officially bought out.

According to John Shannon of Sportsnet, the New York Rangers have placed defenseman Wade Redden on unconditional waivers in preparation for tomorrow's buyout. Redden must pass through waivers at noon tomorrow in order to be officially bought out by the Rangers. However, as per the accelerated buyout system, the Rangers will be on the hook for Redden's cap hit for the duration of the 2013 season. It will drop off in its entirety at the conclusion of the season.

The National Hockey League and NHL Players' Association came to a quick resolution yesterday afternoon, to restrict teams from sending players home for the season to prevent injury. Notable candidates for this were obviously Wade Redden, and Scott Gomez of the Montreal Canadiens. This updated system now gives teams a third window in which they can use their two compliance buyouts.

Wade Redden has garnered some interest from a few teams around the league, and most recently the Detroit Red Wings. Once Redden is bought out, he will officially become an unrestricted free agent.