Waiving Redden by the Numbers

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The New York Rangers are currently in the process of overhauling their defensive squad, as can be seen by the drafting of Dylan McIlrath, the signing of Ryan McDonagh, and now the possible waiving of the club's largest detriment in Wade Redden. Not only would sending Wade through the waiver wire open up slots on the back-end, but it would also enable general manager Glen Sather to do a little rearranging on the offense as well. With a little help from our old buddy Cap Geek, I will present to my readers the impact the removal of the former Ottawa Senator would have.

First off, the Blueshirts currently have approximately $7.89 million in cap space, partly due to the escalator that was approved by the NHLPA a few weeks ago. This is before RFA defensemen Marc Staal and Dan Girardi are re-signed, however, and that is a main priority at the moment. Assuming each player gets the money they want, most of that $7.89 million will be gone rather quickly. What does that mean? Well, it means the Rangers will again be very limited in what they can do as far as roster adjustments go throughout the upcoming season and at the deadline. Waiving Redden would obviously change that.

Now before we continue, I just want to make it clear that Redden would have to be assigned to the Hartford Wolf Pack (AHL) in order for his salary to come off the books. That is assuming he is not picked up on waivers (hahaha) prior to then, which would also wipe his salary clean. Moving on.....

If Redden was waived right now, before Staal or Girardi agree to terms, that $7.89 million in cap space mentioned above would suddenly become $14.39 million in breathing room, which is an ample amount to lock up both Staal and Girardi, in addition to making another trade or signing.

So now we are at $14.39 million in cap space with Redden off the books, so it is time to re-sign Staal and Girardi. (Note: the following is pure speculation, not actual amounts) Girardi is rumored to be seeking $3 million over 4 years, so if you factor that in, Sather's down to $11.39 M in cap space.

Marc Staal has not come out and publicly state what he is seeking, but I am assuming it is somewhere between 4.5 and 5 million. Therefore, we'll put him down for 4.7 to split the range in half. With the addition of Staal, the Blueshirts would still be about $6.69 million under the cap ceiling.

Do not forget, though, with Redden now in Hartford, Ryan McDonagh (signed yesterday) would now have to be brought up. While his contract details have yet to be disclosed, it is very likely that the rookie blue-liner will receive $875,000 over the next three years. Add McDonagh in there and you are now at $5.82 million in cap space.

From here, Glen Sather would have a lot of room to make small additions such as calling up forward Derek Stepan. Also, by sending forward Aaron Voros down to Hartford, that sheds another one million off the cap.

I hope that this rundown has made it crystal clear what would occur if Wade Redden was waived. Sather would be able to make all of the necessary call-ups, more prospects would be able to join the squad, and there is enough room to go out and make another minor acquisition (such as a seventh d-man) as well.

The only thing delaying all of this from unfolding is Sather's pride, because making a move like this would be admitting a major mistake - something that both me and you know would burn Glen inside.