Wade Redden is on the fifth year of his six-year, $39 million contract with the New York Rangers.
If the NHL gets its way in their latest proposal the Rangers would be on the hook for an additional $5.875 million cap hit this season even if Redden clears waivers and is assigned to the AHL for a third straight season. The league wants to a apply a charge, where the difference between a player's NHL cap hit and the NHL minimum salary (proposed $625,000) counts against the cap for those on one-way deals who are sent to the other leagues like the minors. The union wants this stipulation to impact new contracts and not existing ones. A "compliance buy-out" is an option the NHL is willing to give to teams, but it wouldn't be put into practice until next June and there is the risk of injury before then as well. The NHLPA will probably request some changes to make situations like this a non-factor should we get a shortened season.