Steve Zipay of Newsday tweets that Ryan Callahan has signed a contract, avoiding the arbitration hearing set for later this month. Still don’t know the terms, but Zipay says that “it is believed to be a substantial raise and a multi-year deal.” Good for Callie, he’s earned it. We’ll post the numbers once we find ’em.

Update (8:36pm): Zipay now tweets that Lauri Korpikoski has been traded to Pheonix. Details to come.

Update (8:39pm): SNY’s Ranger Blog says the Korpedo was traded for Enver Lisin, a restricted free agent. Lisin scored 13 goals in 48 games last year, and Hockey’s Future says he has “significant offensive upside” and is a fantastic skater. I like the move, sounds like a damn fine addition for the third line with the potential for more in the future.

Update (9:12pm): Back to Callie, he gets two years, $4.6 M. If my math is right that’s a $2.3M cap hit. Not bad at all.

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