Rangers buy out Henrik Lundqvist

Justin Cuthbert
·2 mins read
MONTREAL, QC - FEBRUARY 27:  Goaltender Henrik Lundqvist #30 of the New York Rangers stretches during the warm-up prior to the game against the Montreal Canadiens at the Bell Centre on February 27, 2020 in Montreal, Canada.  The New York Rangers defeated the Montreal Canadiens 5-2.  (Photo by Minas Panagiotakis/Getty Images)
Henrik Lundqvist will be bought out by the New York Rangers. (Photo by Minas Panagiotakis/Getty Images)

So long, King.

Franchise legend Henrik Lundqvist will have the final season of his contract bought out by the New York Rangers, the team announced Wednesday.

The decision ends a 15-year partnership between the Rangers and Lundqvist, who built a Hall of Fame resume on Broadway, but will exit without winning a Stanley Cup.

“Few players have been as important to the Rangers franchise as Henrik Lundqvist, and we are incredibly grateful for all he has done for our organization," said James L. Dolan, Executive Chairman of MSG Sports in a statement. “Over his 15-year tenure, he not only established himself as one of the best goaltenders to ever play the game, he has also been one of hockey's fiercest competitors and most effective ambassadors. He will always be a part of the Rangers family.”

New York will move full speed ahead with the combination of Igor Shesterkin and Alexandar Georgiev for a promising season with the likely addition of No. 1 overall draft pick Alexis Lafreniere.

Lundqvist was set to cost the Rangers $8.5 million on the salary cap, on the seventh and final season of a $59.5 million contract signed back in 2013, but will now take up $5.5 million, or the same amount of money he’s owed in real dollars.

New York is adding to the glut of dead money on its books with the buyout, and the decision to sever ties immediately will mean that the Rangers incur a small penalty the following season as well, but they will still have over $20 million in estimated salary cap space after letting go of the 38-year-old netminder, according to CapFriendly.

Lundqvist made 30 appearances in his final season with the Rangers, and failed to match the efficiencies of both Shesterkin and Georgiev in what was the worst statistical season of his career.

He will be free to sign with another team if he so chooses while earning the remaining money on his contract once the buyout is official.

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