I'm thrilled that the Rangers resigned Lundqvist and Shanahan. But let's get one thing straight: neither guy signed for a "hometown discount" nor did either of them "take one for the team". Take a look:
He gets a base salary of $2.5m. He gets a $2m bonus if he plays in 10 games this season. He gets another $800,000 in playoff related bonuses (I'm not sure what the playoff bonus threshold is, but based on a post from the Blueshirt Bulletin it seems as though he'll get that $800,000 if the Rangers make the playoffs). Shanny can earn up to $5.3m this season!
Barring an unforseen freak accident, the guy will play 10 games this season. Obviously, anything is possible and any one of us could get hit by a bus the next time we go outside (G-d forbid!). But let's be realistic, the guy will earn at least $4.5m this year. He's actually getting a raise! When the Rangers signed him before last season he was coming off a 40 goal 81 point season. He warranted $4m per year. This past season he put up 29 goals and 62 points. Logically, he should get a raise!?!?
If the $800,000 playoff bonus really does kick in upon the Rangers qualifying for the playoffs, there is a very real possibility that Shanny will earn $5.3m. That's a 32.5% pay raise over this past season! Obviously, there's always a chance that the Rangers will not qualify for the playoffs. But I'll tell you what, that's a calculated risk that I'd be willing to take. Even if you want to argue that Shanny's was given a pay hike because of the rising salary cap, the reality is that the cap did not increase by 32.5%.
It is true, however, that Shanahan did refrain from actively negotiating with other teams. However, those other teams did come knockin' on Shanny's door. Does anyone think that Shanny would still be here if another team came up with a huge offer? Does anyone think that Shanny could have done better than $4.5 -$5.3 million on the open market? Perhaps he could have gotten around that much in guaranteed money. However, the Rangers deal is practically guaranteed. And the small risk of him not hitting the 10 game mark is clearly outweighed by his strong personal preference to stay on Broadway.
I'm happy he resigned. He's a critical piece to the Rangers puzzle. But let's call a spade a spade: the man did very well for himself. He did NOT take one for the team.
Here were his options: (1) sign a long term deal with the Rangers worth over $5m per year, (2) go to salary arbitration and let the chips fall where they may on a 1 year deal or (3) sign a 1 year deal before getting to arbitration.
Option 1 was not happening and Hank knew it. It's not that the Rangers don't want to lock him up long term, they simply don't have the cap space to do it this season.
Options 2 & 3: What would he have realistically been awarded by an arbitrator? The two best comparables I could find for Lundqvist based on age, statistics and/or NHL success were Cam Ward who has an average salary of $2.667 or (gasp!!!) Rick DiPietro who has an average salary of $4.5m. Hank signed for $4.25m. Yes he might have been awarded another $250,000, but he could have easily lost $1.583m. The guy made a great deal! He eliminated his entire 7 figure risk for only $250,000! That's no "home town discount" .
Once again, I'm happy he resigned. He's a critical piece to the Rangers puzzle. But let's call a spade a spade: the man did very well for himself. He did NOT take one for the team.
Enough from me, let's here what you think: