Buy High, Sell Low
Jesse Spector of the New York Daily News reports today that the Rangers will seek to buy out captain Chris Drury from the remaining year of his five year contract. The move will save around $3.3M in cap space this season, though it will also add an additional $1.7M or so to the 2012-13 cap figure.
For Drury, it’ll put to an end one of the worst contracts that Glen Sather has handed out so far. Brought in as a UFA from the Buffalo Sabres, Drury proved to be no more than a second line player earning first line dollars. You can’t fault the individual, he was a warrior, but the contract was, and always has been a dramatic overpayment for a role playing forward with some goalscoring.