Read: The Cap Situation Now That Carl Hagelin Has Signed (Update: And Justin Falk)

DOLLAR BILLS1:07PM: With the Rangers signing Justin Falk to a one-year contract worth $975,000, Cap Geek says that the Rangers have around $3.3 million in cap space.

Without Powe and Asham the Rangers have $5.1 million in cap space.

The team still needs to sign Derek Stepan and Mats Zuccarello.


11:36AM: With the Rangers signing Carl Hagelin to a deal that has a cap hit of $2.5 million, Cap Geek says that the Rangers have $4.3 million in cap space.

The team still needs to sign Derek Stepan, Mats Zuccarello and Justin Falk.

Cap Geek’s projection of $4.3 million includes Darroll Powe and Arron Asham while not including JT Miller.

The Rangers, during the summer are allowed, to go 10% over the upper limit of $64.3 million. The Rangers need to be below the 64.3 million upper limit by the last day of their training camp.

Subtracting Powe ($1.06 million) and Asham ($1 million) while adding JT Miller ($1.24 million) gives the Rangers $5,43 million, according to the Cap Geek cap calculator.

Without Miller, Powe and Asham, the Rangers have $6.1 million in cap space. Because Powe and Asham have salaries greater than $925,000 they will still have a cap charge if sent to the minors. Asham will have a $75,000 cap charge and Powe will have a $141,666 cap charge.