Archive for Wade Redden
Update: 10:30pm: Redden has been bought out.
Update 1/17/13: Redden has cleared waivers. The Rangers will buy him out before the season starts on Saturday.
Original Post (1/16/13): As expected, the Rangers have placed Wade Redden on waivers, per Pierre LeBrun. This is step one in using their first amnesty buyout on the defenseman. Redden is expected to clear tomorrow, and will promptly be bought out by the Rangers.
The hockey world is back up to full speed, and it’s hard not to be excited. See you soon New York; my annual regular season trip is now in the planning phase. Cannot wait to be back at the Garden, something I’m sure we all are excited for. Musings Time!
Pat Leonard of the NY Daily News reported that the goalie starts for the Rangers will continue like last year’s split which would mean Hank getting ‘only’, (approximately) 36 starts, which is exactly what Suit predicted a couple of weeks ago. That’s bad news for you fantasy hawks that drafted the King in the first round of your drafts but good for Henrik in terms of staying fresh for the playoffs. The Rangers are blessed that they’re able to lean on a back up of Biron’s quality.
I’m going to predict the Rangers regular season: 35 wins.
Update: 3:45pm: Larry Brooks is now reporting that a deal has been reached. Organizations can use their first compliance buyout by Sunday, and the Rangers will use this on Redden.
Original Post: Per Larry Brooks, the Rangers are attempting to use their first compliance buyout on Wade Redden prior to the start of the season. The Rangers would still retain the $5.6 million cap hit for this season –which would make the NHL happy– while releasing Redden from his obligation to the Rangers, which pleases the union.
Redden, if released from his obligation to the Rangers, would have no problem finding a job as a bottom pairing defenseman for a fraction of his salary.
It appears Wade Redden will sit out the season at home at the Rangers’ request in order to ensure he does not get hurt and thus jeopardize the planned postseason compliance buyout of the final year of his contract.
To elaborate on what Brooks is saying, the new CBA allows teams to have two amnesty buyouts between the end of the 2013-2014 season and the start of the 2014-2015 seasons. However, buyouts in the NHL –amnesty or regular– cannot occur if a player is injured. The Rangers actually ran into this problem once before with Chris Drury, when his knee almost prevented his buyout.
Redden has one more year after this season on his contract that will pay him $5 million ($6.5 million cap hit). With the new CBA, Redden’s cap hit would be $5.6 million if he plays in the AHL. Naturally, that’s a lot of dead weight on the cap, and the Rangers will absolutely buy him out.
Some may laugh at that title, but there is a slim chance that Wade Redden may wind up back with the Rangers should the Blueshirts be unlucky on the injury front. The Rangers have six defensemen signed, not including Michael Del Zotto or Matt Gilroy (also not including Mike Sauer, who is done for the year). Down in Connecticut, the Rangers have three players that could be used as a call up: Sean Collins, Logan Pyett, and Redden.
Now let’s just be direct and say that this is a very slim possibility. The Rangers would have to suffer a large amount of injuries to their blue line before Redden even becomes a possibility. It’s safe to assume the Rangers would have to burn through their current NHL reserves in Gilroy, Steve Eminger, and Stu Bickel before they begin calling players up. It would take three injuries for the Rangers to require a call up.
I’m writing a musings article. That can only mean one thing: The lockout is over. Who else thought the Gary Bettman ‘apology’ fell on deaf ears? Show of hands? Thought so. On to the musings.
TSN had an article earlier this week titled: “Leafs stand to benefit from new CBA”. Of course, this is presumptive from TSN. When you’re a franchise that’s been mismanaged for more than a decade, it’s dangerous to assume anything. More on that later.
Should we expect quick movement on the Del Zotto contract front?
News broke yesterday that the NHL and the NHLPA had agreed to two amnesty buyouts before the 2013-2014 season. One buyout will be allowed before the start of this season –if it happens– with the second occurring before the start of the 2013-2014 campaign. The owners appear to be dead-set against a cap higher than $60 million for 2013-2014, so multiple teams will need to use both buyouts to get to that number.
The first buyout for the Rangers will have to be Wade Redden. The new CBA will not allow teams to bury bad contracts in the AHL, so Redden’s full $6.5 million cap hit will be on the books. This one is a no-brainer. Redden, much like Scott Gomez in Montreal, will be bought out. That’s the easy one to guess.
The Rangers may need to use that second buyout to stay under that $60 million cap for 2013-2014. Of the players currently signed, the organization will not be looking to buyout either of their goaltenders, Rick Nash, Marian Gaborik, Brad Richards, Ryan Callahan, Chris Kreider, Marc Staal, Dan Girardi, or Stu Bickel. These guys are either cheap (Bickel), part of a group that the Rangers need to win (everyone else), or both (Girardi).
When the NHL’s proposal was made public, the clause that scared a lot of fans was that AHL clause. The clause states that those players making over $105,000 in the AHL — on NHL contracts, as in they signed with the NHL club — will have the difference count against the NHL salary cap. For those keeping score, that means that of Wade Redden’s $6.5 million cap hit, $6.4 million will count against the NHL cap.
This clause — dubbed the Wade Redden clause — is designed as a prevention against cap circumvention. When looking at the Rangers, there is no way they would have been able to afford Marian Gaborik and Rick Nash if they still had Redden on the books. This clause is aimed at that, but believe it or not, it doesn’t really affect the Rangers.
Wade Redden may not be liked among some fans in New York, as his bloated contract and sub par play made him a popular whipping boy. Many welcomed the fact that he was sent to the CT Whale at the beginning of last season to make room in the budget and roster for other players. But, instead of being a locker room cancer in the AHL, Redden took to the kids and became a great mentor.
Now, it appears Redden is taking the next step in his progression as a mentor, and likely future coach. Over the weekend, Redden was named the captain of the Whale, a position which he has earned. Redden has taken the high road with his demotion, and become an integral part of the development of many youngsters in the AHL.
While his NHL contract may not have been worth it, Redden has more than made up for it with the way he carries himself in the CT locker room. He has been nothing but classy and professional, and it is evidenced by being named team captain.
The press release is after the jump.
There have been persistent rumors about the possibility that the next CBA could allow each team a one-time “amnesty buyout”, which would allow the team to buyout one player without that cost being reflected in the salary cap. For some teams, who would end up on the wrong end of this type of buyout is obvious (*cough* Rick DiPietro *cough*), but for others teams, the question is a little more difficult.
I am going to discuss the merits of using this hypothetical buyout on any Ranger who makes over 3.5 million per year for at least two more seasons. Just because a player is listed does not mean I think the Rangers should consider buying them out, only that they meet the threshold. All cap info is via Cap Geek.
Brad Richards (6.6m cap hit through 2020) – Would the Rangers consider using this buyout so soon into Richard’s shiny new contract? Probably not, but there is some merit to it. The length is one factor, obviously the free agent market drove the years up on Richard’s deal, probably to a term the Rangers are not crazy about. Richards has shown to be valuable in many aspects of the game, including leadership roles, mentoring young players and being a positive influence in the room but his production on the ice does not justify his salary. Since that is clear within the first year of the deal, would the Rangers consider getting out from under a potential albatross? Again, I don’t think so, and I think there are better options for the amnesty buyout. But it does give you pause.
Brandon Dubinsky (4.2m cap hit through 2015)- Dubinsky is one of the few current Rangers whose production is not anywhere near where it needs to be to justify his contract. However, Dubi is young, and still has some upside. His value on the trade market is much higher than the benefit of using the buyout on him. Next…
Ryan Callahan (4.275m cap hit through 2014) – If anything, The Captain’s 4.2 million dollar cap hit is becoming a bargain. He’s not going anywhere. Next…
Marc Staal (3.975m cap hit through 2015)- Now this might sound like a complete no brainer at first glance, and I agree. But, what if the Rangers’ brass are not sold that the concussion that sidelined Staal for the better part of a year isn’t completely behind him? Staal is being paid like a top pair defenseman, and if the medical staff think it’s possible that he could miss significant time going forward, would you think about it? Me either. Next…
Henrik Lundqvist (6.875m cap hit through 2014) – Ha! Yeah right. If anything The King is due for a raise. Next…
Marian Gaborik (7.5m cap hit through 2014) – There are some factions of Ranger fandom who believe that Gaborik is a bad fit under Tort’s system and is paid too much for his “me first” production. There is no in house replacement for Gaborik’s production and while he hasn’t been a bargain necessarily, he’s not wildly overpaid. I would be blown away to see him even discussed as a viable option. Next…
Wade Redden (6.5m cap hit through 2014)- Ding! We have a winner. Redden has been great down on the farm for the progression of the young d-men with the Whale, but his cap hit comes back in the summer and begins to squeeze pursuit of free agents. I’m sure he would love another crack at the NHL with another organization at a lesser salary. As good of a mentor as he has been, it doesn’t justify clogging up the summer cap for him.
The Rangers have the benefit of not being weighed down by too many unproductive contracts. If the amnesty buyout does come to fruition, there aren’t many people who would be sad to see Wade Redden’s contract go.
Do you guys agree with my assessments? Can you make a case for one of the other candidates? It might not ever become an issue, but it is a fun exercise to look at until the final call is made on this provision.