Henrik Lundqvist Will Be Bought Out By New York Rangers

It has been reported that the New York Rangers buyout the remainder of Henrik Lundqvist’s contract, according to multiple sources.

The first buyout window opened during the Stanley Cup Final, and the move will become official before this window closes. This is the second major move — the first being the trade of Marc Staal — of likely many offseason moves made by the Rangers with next season’s flat salary cap in mind.

Lundqvist’s buyout is the Rangers’ solution to their crowded goal crease, which was highlighted by three NHL goalies on the roster. Igor Shesterkin moved to North America for the 2019-20 season, and was promoted from the AHL mid-year putting pressure on the situation. When no goaltender was moved at the deadline — not Lundqvist, nor Alexandar Georgiev — it was clear that the makeup of their net would change this offseason.

This past season, Lundqvist played the least that he has in his entire NHL career, which includes a condensed 48-game season in 2012-13. He played in just 30 regular season games where he earned a .905 save percentage and saved 4.12 goals above expected in all situations according to Evolving-Hockey.com.

The 38-year-old goaltender had one year remaining on his seven year, $59.5 million contract signed in December 2013. At the time of the signing, his $8.5 million cap hit was worth 13.2 percent of the cap. His 2020-21 salary was set to be the lowest of the deal, at $5.5 million (composed of a $1 million signing bonus and $4.5 million in base salary, compared to the opening year of the deal’s $11 million salary that included an $8 million signing bonus).

The Rangers will save $3 million in cap with the buyout, but still have $5.5 million in dead space for the 2020-21 season, according to CapFriendly.com. The financial implications will be cut in half in 2021-22, at just $1.5 million in cap space taken up by the buyout.

The $5.5 million cap hit from Lundqvist’s buyout will coincide with the steepest year of Kevin Shattenkirk’s buyout ($6,083,333), plus $300,000 from Ryan Spooner, and $1,111,111 from Dan Girardi. All together, the Rangers will have just under $13 million in dead cap space from buyouts on the books next year, in what would have already been a challenging year given the flat $81.5 million salary cap. The 2021-22 salary cap will have over $4 million combined in dead space as well.

Via CapFriendly

With Lundqvist’s buyout, the Rangers will move forward with a goaltending tandem of Igor Shesterkin (signed for one more year of his entry-level contract of $925,000) and Alexandar Georgiev, a pending restricted free agent.

With this buyout, Lundqvist’s 15-year career with the Rangers comes to an end. He first skated between the pipes in New York in 2005-06, making his debut on October 8, 2005 against the Devils, and soon became their starter and backbone. His last appearance in a Rangers’ sweater came on August 3, in Game 2 of the team’s qualifying series against the Carolina Hurricanes.

Lundqvist was in the crease for 887 regular season games for the Rangers between 2005 and 2020, where he played over 51,816 minutes, made 23,509 saves and earned a .918 save percentage. Additionally, he started 130 postseason games, going 61-67 while making 3,567 saves in 7,935 minutes, earning 10 shutouts and a .921 save percentage.

We will keep you posted with what’s next for the future Hall of Fame goaltender, and have more content on his career in New York in the coming days and weeks.

Data via CapFriendly and Evolving-Hockey

Comments

This organization is fucking pathetic

They show loyalty to the wrong people, make wrong player evaluations and luck into some unbelievable players despite their incompetence.

I won’t be around to watch this disgrace for an organization.

I’m pretty curious as to why you think this is shameful. If anything, this seems like the best option for both Lundqvist and the Rangers. The Rangers can fully turn to the future, with a little extra cap space to do it, and Lundqvist can join another team next season free of the anchor that was his contract.

Its not the fairytale ending… but unfortunately few things in life have a fairytale ending.

Especially when this a mutual decision

The king didnt want to be a back up on the team he ruled over for 15 years.

I TOLD YOU GUYS MY SOURCES ARE LEGIT

I laid it out for you, crystal clear.

This is the first of many comments where I will say,

Objectively, it is probably the right move. I know most on here will disagree. I would have thought they might wait to see if they had major offers for Georgie but I think Benoit is high on Georgie.

As said below, Georgiev had better be something more than just a backup goalie. The cost for keeping him is not only his salary, but also Hank’s dead cap space

The only thing that is a bit perplexing is that they are not cup contenders next year and beyond next season, I am not sure what they are going to do with Georgie even if he is great. I guess they would trade him but how much more valuable will he be after next season?

I certainly hope we’re cup contenders in 21-22, otherwise why did we sign Panarin, Trouba, and Kreider?

I mean 20-21. Henrik’s contract was up after 20-21. Not sure why they felt they needed to do this now but I guess carrying 3 goalies won’t work and they weren’t in love with any of the offers for Georgie.

For them to make this decision, all Georgiev needs to be is a win or more better than they think Hank is, as backup. Sadly, that’s the reality.

That's not the full equation though.

1) We have the dead cap space as a liability this and next season.
2) We’re passing up on the assets we could have gotten for Georgie (at worst a 2nd rounder).

Georgie needs to outperform Hank by more than whatever you think those items are worth.

1) That’s only a liability next season because the alternative this coming season is Hank’s full cap hit and probably less wins.
2) At best a 2nd rounder. Nobody was offering a 1st for Geo because that’s not what he’s worth. If someone had offered that, we probably would have taken it.

idk, i remember it was believed that the Rangers were offered a first for talbot and didn’t take it

That was Sather’s doing and Gorton looked like he was kicked in the balls (well his face always sort of looks like that). And they didn’t take it because they thought a better deal was out there. Not really a reliably repeatable event.

i just wouldn’t rule out the possibility that if the offer was there they’d take it

and at the same time i don’t know why they’d be so hard pressed to get a 1st for Georgiev when a 2nd in this draft will net you late first round talent

There is no source for the Talbot rumor, it’s almost certainly not true.

Georgiev was not being shopped. The Rangers want him on the team, they need him as a player more than they need another draft pick.

you are wrong. There were plenty of sources and first hand interviews. Maybe they weren’t on whatever you watch, but they were on MSG and the hockey network on both draft days. Some of the interview vids were then posted on the web. I linked people at a different boards (including non-believers like you) to the words straight from Gorton and others.

Name the sources, name the team. If you are right, should be easy.

People speculated there might have been an offer for a first round pick, but it’s like people saying Buffalo is shopping Eichel, mostly speculation. There’s no actual evidence for it. The Rangers shopped Talbot but nobody knows what was offered other than the teams involved.

I believe it was reported several places.

I already did. I told you the interviews were on MSG and the hockey network. The source was Jeff Gorton! The interviews were posted on the web!!!! He did not name the team, but he answered the interview questions and stated they did have a better offer, but the team went in another direction (after the Rangers did not accept the offer) and the offer was no longer. That interview also showed the disgust (the only time I witnessed this) of Gorton, with Sather. He tried to hide it, but could not. The next days we saw Sather get kicked upstairs.

The Clarke and (i think) Sather interviews were also the same day. I saw them with my own lying eyes and ears too. I linked those interviews at Phil’s site. I think it is still there.

Gorton did not say "we were offered a first round pick."

No GM would do that, ever.

I resent the implication that I am lying. For starters, Gorton wasn’t the GM the day of the interview

And of coarse he did not say that exact statement, however he confirmed that a better deal (one writer said two better deals) was on the table and gruffly continued by mentioning they had a team’s "word", but then they went in a different direction. However, while he tried to pin his aggravation on the team that went another direction, he later had to confirm that they did not get back to them till the next day Basically saying sometimes things go that way and there were a lot of internal discussions.

They had just fucked the Hags deal too and there was a sense that there were too many cooks. The issue regarding Talbot was also reported by at least one of the writers. Days prior to the draft there was lots of reports about the interest in Cam and at least a 1st was expected by mgmt. Sather got greedy and tried to leverage a bidding war and failed. I believe it was those few days before and during that draft that Sather realized he was not helping the rest of the mgmt team much anymore. He just blew two trades.

He then kicked himself upstairs. Or it may have been encouraged due to health.

I would have though that the league changing the rules to allow compliance buyouts, of which Sather’s signings were the first to go, should have sent him enough of a message that he’s virtually a Millbury level bad GM, and maybe he should quit

… but maybe that’s just me.

Not just you, Sather was a shitty GM, though the Hank, Staal, McD, Cali, Dubi, Arti, Hags rebuild was done reasonably well and we got close once. Sather outright killed tthat team though. Those trades, the poor handling of Hags, Stralman versus G, Staal, and almost blew Cali too. Dealing so many 1sts in a row and all those 2nds for washed up rentals, ugh.

View All Comments
Back to top ↑