Breaking: Rangers buy out Shattenkirk

The New Ranger have reportedly bought out the contract of defenseman Kevin Shattenkirk, according to a report from Rangers insider Brett Cyrgalis.

Now the window open, and a source says that #NYR have bought out Kevin Shattenkirk.
— Brett Cyrgalis (@BrettCyrgalis) July 31, 2019

Officially, the Rangers cannot buy out Shattenkirk until midnight tonight, but it’s expected that a formal announcement will be made tomorrow morning.

The 30 year old Shattenkirk was one of the most sought after free agents during the 2017 offseason and is now done as a Ranger, just two years into his four year agreement.

While the Rangers save over $5 million in cap space this upcoming season with Shattenkirk’s buyout, they get absolutely HAMMERED next season. Check out this breakdown of the buyout courtesy of CapFriendly:

#Rangers buying out the remaining 2 years of Shattenkirk's contract would result in 4 years of buyout cap hit broken down as follows:

2019-20: $1,483,333*
2020-21: $6,083,333
2021-22: $1,433,333
2022-23: $1,433,333

*It would save NY $5,166,667 in cap space this season. pic.twitter.com/0pG9p5leTO
— CapFriendly (@CapFriendly) July 31, 2019

Ouch… that’s gonna sting next season. Thankfully, Chris Kreider’s $4.6 million salary comes off the books next offseason, though.

In any case, Shattenkirk likely won’t remain a free agent very long. While he’s not worth his former contract, he’s still a capable offensive defenseman. Expect several teams to kick tires on him once he officially hits the market.

Breaking: Rangers buy out Shattenkirk

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