New York Rangers buy out final year of goalie Henrik Lundqvist's contract
The New York Rangers parted ways with Henrik Lundqvist on Wednesday, buying out the final year of the contract of the franchise's all-time leader in goalie wins (459) and games played (887), as well as playoff wins (61).
Lundqvist, 38, would have had an $8.5 million cap hit in the final year of a seven-year, $59.5 million contract he signed in 2013.
The Rangers will maintain a cap hit of $5.5 million, but will clear the other $3 million. The buyout will also result in a $1.5 million penalty against the cap in 2021-22.
"Representing this organization has been the biggest source of pride and joy in my life," Lundqvist tweeted. "I’m so grateful for the opportunity, for the friendships and for all the great memories created wearing the red, white and blue. I will always cherish my time as a Ranger."
Lundqvist, a future Hall of Famer, spent 15 seasons with the Rangers, earning a Vezina Trophy for the 2011-12 season while finishing top six in the voting a total of 10 times. He played in 130 playoff games and led the Rangers to an Eastern Conference title in 2013-14, leaving a Stanley Cup title as the only thing missing from his resume.
But Lundqvist saw his ice time diminish the past two seasons, particularly this year after rookie Igor Shesterkin's highly anticipated debut. The Russian went 10-2 with a .932 save percentage to quickly establish himself as the Rangers' No. 1 goalie, limiting Lundqvist to four regular-season starts after Jan. 2.
With Shesterkin declared "unfit to play" for the first two games of the August qualifying round series against the Carolina Hurricanes, Lundqvist got to make his final appearances as a Ranger. He posted a 3.52 GAA and a .901 save percentage in the two losses, with Shesterkin returning from injury for the Game 3 loss.
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Shesterkin's emergence, coupled with the presence of fellow 24-year-old goalie Alexandar Georgiev, spelled the end for Lundqvist. General manager Jeff Gorton said last month that they did not intend to carry three goalies for the 2020-21 season.
“We would like to thank Henrik for his immeasurable contributions to the New York Rangers,” Rangers president John Davidson said. “From the time I met Henrik when he first came to New York in 2005, he has been the consummate professional. His tireless work ethic, passion for the game, and love of the Rangers and New York City enabled him to become one of the greatest goaltenders in hockey and one of the best players in the history of our franchise."
Lundqvist's buyout comes days after the Rangers traded their longest-tenured skater, defenseman Marc Staal, and a second-round pick to the Detroit Red Wings in exchange for future considerations. As a result of the combined cleared salary, they'll be left with more than $23 million in cap space.
Vincent Z. Mercogliano is the New York Rangers beat reporter for the Paste BN Network. Follow him on Twitter @vzmercogliano.