1:28PM: The Blues have announced that Wade Redden has agreed in principle to a one-year deal worth a pro-rated $800,000.
Blues GM Doug Armstrong said, “Wade is a solid two-way defenseman. We believe his experience will complement and add stability to our defensive core.”
6:45PM: The Rangers have officially announced the buyout of Redden.
5:22PM: According to Katie Strang, the Rangers accelerated buyout of Wade Redden has been completed and Redden is now no longer part of the Rangers organization.
Redden’s cap hit of $5.6 million stays on the cap for the Rangers this season but is NOT on the cap for next season.
Redden played two years with the Rangers and two years with the Whale. He had one more year left on his contract for next season.
In 2008-09, Redden had three goals and 26 assists in 81 games. He averaged 22:20 per game that season, was a minus five and had 99 hits and 98 blocked shots.
In 2009-10, Redden had two goals and 12 assists in 75 games. He averaged 17:31 per game and had 88 hits and 75 blocked shots.
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According to Frank Seravalli in the Philly Daily News, Wade Redden is someone who the Flyers may have interest in as they look to add depth on defense.
He writes that some rumors have Redden and his agent targeting a pro-rated deal of $1.5-$2 million for the season.
Redden will be bought out today by the Rangers.
12:32PM: In the Detroit Free Press, via KK, Helene St. James writes that the Red Wings have discussed the idea of bringing in Wade Redden.
Tom Renney is part of the Red Wings staff and he coached Redden with the Rangers in 2008-09 before being fired.
12:09PM: Pierre LeBrun notes that Scott Gomez is on waivers as well.
12:03PM: The Rangers have placed Wade Redden on waivers with the intention of using a compliance buyout on him.
The NHL is allowing teams to use one of their compliance buyouts before Saturday.
The Rangers will still be on the hook for Redden’s cap hit this season.
3:30PM: Elliotte Friedman writes that one benefit to the Rangers for using their buyout now is that it opens up a spot on their reserve/50 contract list.
3:27PM: Brooks says that Boston, Toronto, Florida and Ottawa have expressed some interest in Redden
2:51PM: Larry Brooks says that the Rangers still need to place Redden on waivers.
2:45PM: Bob McKenzie tweets that teams will save 1/3 of the players actual salary by buying them out, but they won’t get any cap benefit.
2:34PM: Nick Kypreos says that the first buyout window will start before the season and the second one will happen after the season. If a team buys out a player now, the cap hit only counts for this season.
2:31PM: Larry Brooks writes that the Rangers are being permitted to use one of their compliance buyouts now on Wade Redden.
They will still be stuck with his cap hit of $5.6 million this season, but will not be charged next season. The cap hit remains even if Redden signs with another team.
Brooks says that this option will be presented to every team.
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10:21AM: Katie Strang tweets that Bill Daly says that the Rangers have been advised they are within their rights to prohibit Wade Redden from playing in the minors this season.
9:27PM: At ESPN.com, Pierre LeBrun writes that the NHL and NHLPA are looking into a solution where both Redden and Gomez can continue their career, but come off the Rangers and Habs salary caps.
He adds that there is no bad blood between the Rangers and Redden/Don Meehan and that the two are trying hard to find a solution.
8:04PM: Katie Strang tweets “As with Gomez/MTL situation, NHLPA is reviewing Redden/NYR. Team has been in touch with agent, league. Multiple options discussed”
7:36PM: According to a tweet from Larry Brooks, the Rangers and Wade Redden’s agent Don Meehan explored many different scenarios that would see Wade Redden NOT have to sit out the season.
Brooks says though that the two sides couldn’t come to terms on a solution that would benefit both sides.
2:47PM Larry Brooks tweets “Told that Gomez was shocked by Montreal decision to send him home with pay…”
11:47AM Bob McKenzie tweets “Scott Gomez was personally informed by MTL GM Marc Bergevin this morning at 7:30 am ET that Gomez’s services no longer required iin MTL.”
Scott Gomez has been told by Montreal not to report this season.
Montreal intends to buy out Gomez this summer and don’t want him to risk getting injured and preventing the buyout.
The Rangers are doing the same with Wade Redden.