"...The Post has learned that had the Rangers not renounced the option prior to the opening of the 2005-06, first post-lockout season, the full value of the 2008-09 option year would have been added to the contract as a fixed year, and thus would have increased Jagr's cap charge to approximately $5.8M, rather than the $4.94M the Blueshirts have been assessed. That would have taken place even if the Rangers had never actually exercised the option.
Additionally, the Rangers would have been hit with the full $8.36M cap-charge for next season by hypothetically exercising the option, even though Washington would have continued to pay its portion of Jagr's salary. The only way for the Rangers to continue to reap their current cap discount into next season would be for Jagr to hit any one of his triggers. The team, by the way, had every reason to expect that he would do so.
Jagr should have hit one of his triggers in 2005-06 by winning the Hart as MVP when he first "guaranteed" that the Rangers would end their seven-season playoff drought and then carried the club into the tournament with a twin franchise-record setting 54-goal, 123-point season. But Jagr was a victim of injustice in the balloting and finished second to Joe Thornton, whom the Bruins traded to San Jose in November of that season..."
...looks like the Rangers took a gamble on Jagr hitting the incentives and lost. Unless of course, Jagr wins the Conn Smythe when the Rangers win the Stanley Cup this year.
...this shouldn't matter, as Brooks states Jagr only wants to play for the Rangers and they'll find a way to get him under the cap next year.