The New York Rangers are buying out the final year of star goaltender Henrik Lundqvist‘s contract to end his 15-year career with the team, a source told ESPN, confirming a report by the New York Post.
Lundqvist, 38, will become an unrestricted free agent, joining a crowded market of veteran goaltenders when the signing period begins on Oct. 9.
Lundqvist carried an $8.5 million salary-cap hit and was scheduled to make $4.5 million with a $1 million signing bonus on the final year of a seven-year, $59.5 million contract he signed in December 2013. That contract also carried a full no-movement clause, so a buyout was the most expedient way of moving on from Lundqvist.
The Rangers went with three goaltenders during the 2019-20 season, as Lundqvist shared time with Alexandar Georgiev and Igor Shesterkin, both 24 years old. Georgiev played 34 games, Lundqvist played 30 and Shesterkin, a rookie sensation, went 10-2 in 12 contests.
In the Rangers’ 3-0 series loss to the Carolina Hurricanes in the qualification round of the 2020 playoffs, Lundqvist started two games and Shesterkin one.
Lundqvist has been the face of the Rangers franchise — and one of the most popular athletes in New York City — for over a decade. He was drafted in the seventh round in 2000 by the team and made the jump from Sweden to the NHL in 2005-06.
He has a record of 459-310-96 in 887 games, with a save percentage of .918, a 2.43 goals-against average and 64 shutouts, and he is the leader in team history in all of those categories.
Lundqvist is a five-time finalist for the Vezina Trophy, winning the award for the NHL’s top goaltender in 2011-12.
According to Cap Friendly, the Rangers would have a cap hit of $5.5 million in 2020-21, a $3 million cap savings this season and $1.5 million in 2021-22 for buying out Lundqvist.