The Rangers defeated the Buffalo Sabres 3-2 in an outdoor thriller at Citi Field, capped off by J.T. Miller scoring the dramatic power-play goal in overtime.

General Manager Phil Esposito made a striking New Year's Day move, reshaping the franchise's roster and future outlook through a notable trade. The Core of the Deal
On New Year's Day in 1987, Esposito sent:

Mike Ridley (who was the Rangers' leading scorer at the time)
Kelly Miller (a gritty, highly productive defensive forward and eventual multi-time Selke Trophy candidate)
Bob Crawford

...to Washington in return for Bobby Carpenter and a second-round draft pick.

Why It Became Infamous
Losing Young Depth and Production: At the time of the trade, Carpenter was an exceptionally talented U.S.-born player who had previously notched a 53-goal season. However, his tenure in New York quickly soured. Meanwhile, the players sent to the Capitals flourished. Mike Ridley became a cornerstone offensive center for Washington—peaking at 41 goals—and Kelly Miller played over a decade of elite defensive hockey for them.

The "Trader Phil" Era: Esposito was known for being hyper-aggressive and "trade crazy" during his front office tenure. While he brought plenty of high-profile names to Broadway, critics look back at the January 1st trade as a glaring miscalculation that gave up way too much long-term value and core leadership for a player who quickly wore out his welcome in New York.

The Rangers executed the earliest trade in franchise records, acquiring defenseman Leo Bourgeault from the Toronto St. Patricks in exchange for cash.