Wednesday, July 28, 2010
Rangers Have to Dump Redden to Afford Staal (Updated)
Update, 3:56 p.m.:
James Mirtle of the Toronto Globe and Mail tweets...
"Looking at the Rangers' salary situation, it seems all but inevitable Wade Redden is headed to the minors."
Yesterday in the aftermath of the Alexander Frolov signing, I stated that the Rangers didn't necessarily need to send Wade Redden down to Hartford to open up enough cap space to sign Marc Staal at $4.5 million per and get under the salary cap to start the season.
One scenario I mentioned was sending MZA ($1.75 million) and Gilroy ($1.75 million) to Hartford.
However, I received an e-mail today from Aaron Tarnow of Play Petr Prucha (love the name!) stating I was wrong...
"I just wanted to help clarify something about the cap situation, after your post yesterday about signing Frolov. You mentioned that a reader pointed out that we could still sign Staal at $4.5m and keep Redden around, by dumping MZA and Gilroy. The logic was that we still have $1.4m of space, so we only need to free up $3.1 to afford Staal at $4.5. Gilroy at $1.75 + MZA at $1.75 = $3.5, which is enough. However, this doesn't actually work out. We only have that $1.4m free because of the performance bonus cushion - we have $2.2m in performance bonuses. MZA's $1.75m hit is actually $850,000 in bonuses and $900,000 in salary. So, dumping him will only save us $900,000 more - the other $850,000 is already part of the bonus cushion, and doesn't free up any more room under the cap. Dumping MZA and Gilroy saves us $2.65m, which would give us enough room to sign Staal at more like $4m, but not at $4.5."
For more analysis from Andrew click here.
...so what you're saying is the Rangers WILL have to dump Redden to re-sign Staal and get them under the cap? Glad I was wrong.
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