The Rangers will not be buying out the last year of Chris Drury‘s contract after all. Today was the last day in which the Rangers could initiate the process by placing him on unconditional waivers, and they needed to do it by 12:00pm Eastern.

According to @stevezipay, @NYDNRangers and AGrossRecord that did not happen.

The move means the Rangers will be stuck with the full $7M or so of Drury’s salary this summer and throughout the entire season, though the Rangers can place their captain on LTIR if he cannot play and the team reaches the Cap limit in salary commitments.

When you add in Wade Redden‘s salary, the Rangers will have $13.05M of salary tied up in two players that aren’t expected to pay a single game for them in the coming season.