This past week, New York Rangers goalkeeping legend, Henrik Lundqvist, had his contract bought out. Lundqvist was heading into his final year of his contract, after spending 15 seasons in net with the team. Drafted in 2000, Lundqvist came from Sweden to join the NHL in 2005 and immediately became the face of New York.

CEO of MSG Sports, James Dolan, recognized the work that Lundqvist had put in saying, “Few players have been as important to the Rangers franchise as Henrik Lundqvist, and we are incredibly grateful for all he has done for our organization.” Lundqvist was the cornerstone of the Rangers organization for many seasons, playing in 887 games and posting a 459-310-96 record. Known as “The King” he worked game after game to help lead the Rangers to playoff-games, division titles and the Stanley Cup playoffs in 2014. The Rangers 2019-2020 season was relatively unsuccessful, with them finishing 7th in the Metropolitan Division after getting swept by the Carolina Hurricanes in August. Lundqvist had his worst season with being limited to 30 games and finishing with a 3.16 goals-against average.

In 2013, Lundqvist signed a 7 year extension contract worth $59.5 million. His contract was fully “no-movement” which means the player cannot be waived, assigned to minors, or traded without approval. It also clarifies that the player can’t be exposed in a possible expansion. By buying out the contract, the program will save $3.7 million in cap space which could be used for new signings, including number one draft prospect Alexis Lafrenière. 

Rangers President John Davidson holds Lundqvist in great respect, stating to the press, “From the time I met Henrik when he first came to New York in 2005, he has been a consummate professional. His tireless work ethic, passion for the game, and love of the Rangers and New York City enabled him to become one of the greatest goaltenders in hockey and one of the best players in the history of our franchise. We all wish Henrik and his family the best going forward.” The Rangers are objectively a better program because of the impact that Lundqvist had. But, the contract buyout does not mean that Lundqvist is retiring. He still has potential to continue to make an impact on an NHL roster, taking to Twitter to say that “I still love to compete. I still love the game and I still want to WIN!” Signing rumors around the league continue to swirl, with the Washington Capitals reportedly being the frontrunner to sign “The King”