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Drury Buyout Official

UPDATE: It's official, the Chris Drury's contract has been bought out.

EARLIER: After a tumultuous week of conflicting information, the Rangers will officially buy out Chris Drury’s contract today, giving the team considerable cap savings heading into the summer.

Thanks to a knee injury that was apparently far more severe than anyone realized, it was rumored that Drury would file paperwork stating that he was medically ineligible to play, blocking the buyout.  However, Drury apparently softened on his stance over the weekend and has agreed to move on.

The reason for the holdup in the buyout appears to have been because Drury had a no-movement clause and thus had the option to forego the waiver wire and head straight to free agency.  That means the Rangers didn’t have to place him on unconditional waivers by noon yesterday as originally thought, instead Drury’s contract can be expunged from the books in one motion today.

Drury, 34, would have had a bloated $7.05 million cap hit this season, a number the Rangers couldn’t stomach especially with a heavy pursuit of UFA center Brad Richards ahead.

Drury was set to enter the final year of the five-year, $35.25 million contract he signed in 2007.  His career has fallen off track thanks to age and injuries, including several concussions, and he didn’t score his first goal of the season until game #82.

Buying out Drury will provide the Rangers with $3.33 million in cap savings this year as his cap hit will be reduced to $3.7 million.  The buyout will add a cap hit of $1.66 million to the books for Drury in 2012.

The considerable cap savings the Rangers received from the buyout will give the team plenty of money to re-sign all of their own free agents and be active on the free agent market. 



Looking Ahead to 2011-2012:

Rangers Land Tim Erixon: What Does It Mean?

More Erixon Trade Fallout >

What The Rangers Can Learn From The Bruins > 

Rangers Will Face Stiff Competition In The East In 2011-2012 >

What If Christian Thomas Makes The Rangers Next Year?


Free Agency:

Plan A: Sign Brad Richards >

Plan B: Trade For A Top Center >

Plan C: Stick With The Status Quo At Center >

Plan D: Add An Offensive Winger >

Plan E: Sign An Impact Veteran UFA Defenseman >


2011 Draft:

Mid-Round Steals + Addition Of Erixon Make 2011 NHL Draft A Win For NY >

J.T. Miller profile >

Steven Fogarty profile >

Michael St. Croix profile >

Shane McColgan profile >

Samuel Noreau profile >

Peter Ceresnak profile >

Reaction to the J.T. Miller pick >

Evgeny Grachev traded >

Full list of BB draft profiles >


2010-2011 Season Review:

Breaking Down The Defense >

Breaking Down The Goalies >

Breaking Down The Offense >

Breaking Down The Prospects >

How Three Free Agent Signings In 2007 Have Shaped The Eastern Conference >

Spotlight On Glen Sather >

Spotlight On John Tortorella >


Player Reviews:

Spotlight On Mats Zuccarello >

Spotlight On Brian Boyle >

Spotlight On Matt Gilroy >

Spotlight On Ruslan Fedotenko >

Spotlight On Brandon Prust >

Spotlight On Bryan McCabe >

Spotlight On Alex Frolov >

Spotlight On Michael Del Zotto >

Spotlight On Martin Biron >

Spotlight On Brandon Dubinsky >

Spotlight On Marc Staal >

Spotlight On Steve Eminger >

Spotlight On Henrik Lundqvist >

Spotlight On Wojtek Wolski >

Spotlight On Sean Avery >

Spotlight On Dan Girardi >

Spotlight On Erik Christensen >

Spotlight On Ryan McDonagh >

Spotlight On Vinny Prospal >

Spotlight On Derek Stepan >

Spotlight On Marian Gaborik >

Spotlight On Chris Drury >

Spotlight On Artem Anisimov >

Spotlight On Mike Sauer >

Spotlight On Ryan Callahan >


Posted by Kevin Baumer | June 29, 2011 at 09:35 am

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