Derek Stepan has ended his contract standoff with the New York Rangers, inking a two-year, $6.15 million contract.
SPECTOR’S NOTE: As GM Glen Sather predicted, Stepan wasn’t going to be so foolish as to risk this season – and his shot with Team USA – on a contract holdout. His new deal is worth $3.075 million per season, coming in less than the $3.5 million per he was seeking, but slightly above the $2.9 million the Rangers were reportedly offering.
This signing also puts the Rangers slightly above the salary cap (by just over $294K) but they shouldn’t have any difficulty becoming cap compliant before the season begins.
In the short term, Sather’s hard line tactics paid off, but if Stepan continues his steady improvement, the Blueshirts will be forced to pay out considerably more after this deal is completed or risk Stepan becoming a target for an offer sheet.
He’ll also have arbitration rights next time around, so don’t expect another lengthy standoff for him.