[Signing] Rangers sign Stepan to 2 yr deal $6.15 mil

[sureLoss]

RT @TSNBobMcKenzie: Following up on multiple NY media reports, confirming Derek Stepan is "close" to 2 yr deal with Rangers. Hearing < $3.25M AAV but > $3M.

[kyuss275]

They needed him on the team this year.

[devo22]

they need to get this done before Monday because then they have to put Hagelin on LTIR. After that happens, they don't have the cap to sign Stepan anymore. He has to sign before that.

[Cali Panthers Fan]

This is funny after the comments from Sather the other day. Guess the kid saw the interview too.

[Wolven]

Originally Posted by devo22

they need to get this done before Monday because then they have to put Hagelin on LTIR. After that happens, they don't have the cap to sign Stepan anymore. He has to sign before that.

That's confusing... wouldn't Hagelin going onto the LTIR create the cap space to sign Stephan?

They Rangers are currently showing $2.7M in cap space and 700k in bonuses. That pretty much covers Stephan already if they put off the bonus to next year.

[devo22]

Originally Posted by Wolven

That's confusing... wouldn't Hagelin going onto the LTIR create the cap space to sign Stephan?

They Rangers are currently showing $2.7M in cap space and 700k in bonuses. That pretty much covers Stephan already if they put off the bonus to next year.

once you have a player on LTIR, you can go slightly over the cap and replace him with another player. However, this replacement can't have a bigger cap hit than the injured player ... and Hagelin has a 2.25m cap hit. They could instead put Callahan on LTIR, but he is apparently a lot closer to returning than Hagelin. If they sign Stepan before LTIR kicks in, they avoid this issue: they're slightly over the cap once Stepan signs, but then assigning Hagelin to LTIR frees up 2.25m that they could spend on a replacement. Confusing, I know. A good explanation of the issue can be found here:

If Stepan is not signed by the time rosters are set on Monday at 3 p.m. – and if the Rangers wish to use the LTI exception to free money to sign Stepan afterward – they must place Callahan on LTI. That would keep the captain ineligible for 10 regular season games and 24 calendar days, but it would mean the Rangers could spend up to his $4.275 million salary in temporary replacement.

Now here is the biggest problem with this conclusion: Callahan is a bit ahead of Hagelin in his rehab. LTI would make Callahan ineligible until Oct. 29, but my humble opinion is he will be ready to return much sooner than that, say Oct. 19 at the Devils, perhaps.

Hagelin is not shooting on net at full strength yet, so if someone does go on LTI, I think it only can be him.

So what does this mean?

It means that the Rangers’ only real way to take advantage of the LTI exception, provided Callahan will be back sooner, is to first sign Stepan and then place Hagelin on LTI to have an extra $2.25 million to play with in replacement player(s).

http://www.nydailynews.com/blogs/ran...orks-cap-expla

[Wolven]

Originally Posted by devo22

once you have a player on LTIR, you can go slightly over the cap and replace him with another player. However, this replacement can't have a bigger cap hit than the injured player ... and Hagelin has a 2.25m cap hit. They could instead put Callahan on LTIR, but he is apparently a lot closer to returning than Hagelin. If they sign Stepan before LTIR kicks in, they avoid this issue: they're slightly over the cap once Stepan signs, but then assigning Hagelin to LTIR frees up 2.25m that they could spend on a replacement. Confusing, I know. A good explanation of the issue can be found here:

http://www.nydailynews.com/blogs/ran...orks-cap-expla

Interesting... but couldn't they simply waive their $762,500 in bonuses to next year's salary cap and have ~$3.5M free space to sign Stephan at any time?

[sureLoss]

Larry Brooks ‏@NYP_Brooksie 5m Stepan contract believed approximately $6.2M,

[sureLoss]

Originally Posted by Wolven

Interesting... but couldn't they simply waive their $762,500 in bonuses to next year's salary cap and have ~$3.5M free space to sign Stephan at any time?

Yes, not sure what the writer in that article is getting at. He may of had a point if the Rangers couldn't fit Stepan under their current cap space, but with the bonus cushion they have the space.

[Ashasx]

This is a ridiculously good contract.

He's proven more than Kadri for longer and is only making 200k/yr more.

[Coach]

Originally Posted by Cali Flames Fan

This is funny after the comments from Sather the other day. Guess the kid saw the interview too.

What were Sather's comments?

[The Yen Man]

Originally Posted by MattyC

What were Sather's comments?

Paraphrased, but I think it was something along the lines of the player should smarten up and not listen to what his agent is feeding him. Holding out for a better deal is not a smart decision for his hockey playing career. Or something like that. I remember listening to Steinberg talking about it on the Fan.

[opendoor]

Originally Posted by devo22

once you have a player on LTIR, you can go slightly over the cap and replace him with another player. However, this replacement can't have a bigger cap hit than the injured player ... and Hagelin has a 2.25m cap hit. They could instead put Callahan on LTIR, but he is apparently a lot closer to returning than Hagelin. If they sign Stepan before LTIR kicks in, they avoid this issue: they're slightly over the cap once Stepan signs, but then assigning Hagelin to LTIR frees up 2.25m that they could spend on a replacement. Confusing, I know. A good explanation of the issue can be found here:

http://www.nydailynews.com/blogs/ran...orks-cap-expla

It's really not as complicated as the writer is making it out to be. Simply throwing Hagelin and Callahan on regular IR and placing Conor Allen and Kyle Jean on the opening roster would get the Rangers within $80K of the upper limit. Then you put Hagelin on LTIR, demote those two guys, and voila you have about $5M in space. Stuff like that happens all the time to start the season.

[jeffman]

Haha, Sather got owned

[devo22]

Originally Posted by jeffman

Haha, Sather got owned

disagree ... having Stepan for two years at 3.075 is a huge steal.

[killer_carlson]

Sather hit a home run with this one.