Larry Brooks at the New York Post reports that the Rangers have given Wade Redden permission to speak with other NHL teams about a possible trade.
Under the new CBA, teams can retain some (up to 50%) of the player's salary/cap they are trading. Brooks thinks this might be an option the Rangers use to entice a team into a trade for Redden, who has another year left on his contract worth $6.5 million per. Brooks says the Rangers would only want to retain remaining salary/cap for this season, however, the new CBA says they'd have to retain it for the entire contract (end of 2013-14 season).
So if they trade Redden and maintain half his salary, the cap hit for the next two years would be just $3.25 million per.
If the Rangers decide to hold on to Redden, they would incur a cap hit of $6.5 million this season, but could buy him out for $3.335 million this summer and not have a cap hit next year.
This year's cap ceiling of $70.2 million falls to $64.3 million next season.
…so if Redden is able to find a team that would be willing to trade for him, but only if the Rangers would retain some of his salary, Sather would have an interesting decision to make. Would he rather trade Redden and retain half his cap hit for two years or keep him and his $6.5 million cap hit this season only to buy him out over the summer? With the cap decreasing so significantly next season I'd go with keeping him on moth balls this year and dumping his ass in the offseason.