Report: Dan Girardi signs with Tampa Bay Lightning

After being bought out by the New York Rangers, 33-year-old defenseman Dan Girardi will reportedly sign with the Tampa Bay Lightning.

Girardi was in the midst of a six year, $33 million contract that included a no-movement clause throughout the life of the contract, as well as a modified no-trade clause that was set to activate on July 1, 2017.

The annual buyout cost that Girardi is owed for each of the next six seasons is $1,111,111. His buyout cap hit varies for the Rangers from $3,611,111 to $1,111,111 per season over the next six years. The Rangers save $2,888,889 the first season and $1,888,889 in each of the following two seasons. Since Girardi’s contract would have expired after the 2019-20 season, his buyout cap hit will outright cost the Rangers $1,111,111 a season for the final three seasons.

According to Bob McKenzie’s report, Girardi is expected salary from Tampa Bay in addition to the money earned from his buyout will likely exceed the $4 million NHL salary he was due from the Rangers prior to his buyout.

Girardi joins Anton Stralman and Andrej Sustr as the Lightnings’ right-handed defensemen. Jake Dotchin, the 23-year-old restricted free agent defenseman that spent last season between the NHL and AHL, is also right-handed.

By joining the Lightning, Girardi will be reunited with former Rangers’ teammates Ryan Callahan and Anton Stralman.

Update: According to Bob McKenzie, Girardi’s contract with the Lightning is expected to have a term of two years and cap hit of $3 million – which breaks down into an NHL salary of $3.25 million in the first year, $2.75 million in the second year.