Wednesday, June 29, 2011

Chris Drury Will Be Bought Out Today

The news many Rangers were waiting (and hoping) for looks like it will become official at some point today.

According to today's NY Post:
The buyout ending Chris Drury's career as a Ranger will become official today, The Post has learned.

The 34-year-old who played four seasons on Broadway, the last three of them as team captain, will become an unrestricted free agent after deciding against applying for a medical exception due to a left knee condition.
It looks like Drury might even actually make more this year than if he had actually played the final season with the Rangers.
It is believed Drury, who would have received the full $5 million due for the final season of his five-year, $35.25 million contract had he been declared medically unable to perform as opposed to the $3.333 million he will collect on the buyout, will seek to continue his career, perhaps in Buffalo, from whence he came on July 1, 2007.
So he'll collect his $3.333M from the Rangers as a result of the buy out and then can negoitate with any other team in the NHL on a new contract.
If you're wonder how this effects the Rangers cap situation:

The Rangers, meanwhile, will be cap-charged approximately $3.717 million for the buyout this season and $1.667 million next year, though the obligation for 2012-13 could be erased pending negotiations of a new labor agreement.
It's bitter sweet. Obviously you never like to see good guys like Chris Drury end his Rangers career this way. But, at the end of the day his tenure in New York was pretty bad and I didn't coin the term "Captain Invisible" for nothing.

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