John Buccigross tweets that Callahan has a $250,000 signing bonus this season and $1 million next season.
Update: 3:31PM: Kypreos says that Callahan’s cap hit will be $4.275 million.
Cap Geek says that the Rangers have $685,000 in cap space which includes Tim Erixon, but not Michael Del Zotto.
Press Release is after the jump.
Update: 3:13PM: Kevin Allen says that the contract breaks down as $4 million for the first two years and $4.825 for the third year.
Update: 2:58PM: Gross says that Callahan didn’t receive a no-trade or no-move clause in the contract.
Update: 2:54PM: Andrew Gross says that Cally and the Rangers discussed deals of four and five years but the money worked best at three years.
Update: 2:50PM: Arthur Staple tweets that the deal is for three years and just under $13 million.
Kypreos says that the deal is in the ball park of three-years and $13 million.
His cap hit would be $4.3 million.
Spector tweets that the deal is now done.
The way that I look at it is that it’s three-years vs. one-year, which is what he would get from arbitration. I’ll take the three years.
Jesse Spector tweets that the deal is “close” but not 100% yet.
Original Post: 1:58PM:
Nick Kypreos says that the Rangers and Ryan Callahan have come to terms on a three-year deal.
Callahan’s arbitration hearing was set for tomorrow.
RANGERS AGREE TO TERMS WITH
FORWARD RYAN CALLAHAN
New York, July 27, 2011 – New York Rangers President and General Manager Glen Sather announced today that the club has agreed to terms with forward Ryan Callahan on a new contract.
Callahan, 26, captured a silver medal with Team USA at the 2010 Winter Olympic Games in Vancouver, Canada, and is a two-time Steven McDonald Extra Effort Award winner (2008-09 and 2009-10). The Rochester, New York native has served as the Rangers’ Alternate Captain for the last two seasons.
Callahan skated in 60 games with the Rangers last season, registering 23 goals and 25 assists for 48 points, along with 46 penalty minutes. He captured the Players’ Player Award, as voted by his teammates, and the John Halligan Good Guy Award, selected by the NY chapter of the PHWA, which recognizes players’ cooperation with the media. Callahan established career-highs in goals, assists and points despite missing 22 games due to injury. He led the team with career-highs in power play goals (10) and game-winning goals (five), ranked second in goals and power play points (15), and tied for second in points. He also ranked second on the team and 15th in the NHL with 224 hits, and fifth among league forwards with 77 blocked shots. The Rangers posted a record of 14-3-1 when he tallied a goal and were 24-7-1 when he registered a point.
Callahan led the Blueshirts in scoring with 13 goals and 25 points in 28 games following his return from injury on February 1, after missing the previous 19 games due to a broken hand suffered on December 15 at Pittsburgh. At the time of his injury, Callahan ranked second in the NHL with 128 hits and first among forwards with 40 blocked shots. He ranked second on the team with a career-high, 11 multi-point performances, including his first career hat trick with four goals and a career-high, five points in a 7-0 win vs. Philadelphia on March 6. On November 15 at Pittsburgh, Callahan posted a Gordie Howe Hat Trick with his first career overtime goal, a shorthanded assist and a fighting major. He recorded a career-high, seven-game scoring streak from October 21 at Toronto to November 1 vs. Chicago (four goals, seven assists over the span), including a career-high, four-game goal streak from October 24 vs. New Jersey to October 30 at Toronto (four goals). Callahan notched his first career penalty shot goal on October 30 at Toronto, and registered his 100th career point with an assist on the game-winning goal on October 23 at Boston.
The 5-10, 190-pounder has skated in 284 career NHL contests with the Rangers, registering 76 goals and 68 assists for 144 points, along with 179 penalty minutes. Callahan has reached the 40-point plateau and surpassed the 20-goal mark in two of the last three seasons. He was originally named Alternate Captain on October 2, 2009. Callahan has registered 200-plus hits in each of the last three seasons, and ranked third in the NHL in 2009-10 with a career-high, 285 hits and fourth in 2008-09 with 265 hits. He made his NHL debut on December 1, 2006 at Buffalo, and tallied his first career NHL point with a two-goal performance on March 17, 2007 vs. Boston. In addition, Callahan has registered six goals and three assists for nine points, along with 20 penalty minutes in 27 career playoff contests. He notched his first career NHL playoff point with a pair of goals on April 17, 2007 vs. Atlanta.
Callahan was originally selected as the Rangers’ fourth round choice, 127th overall, in the 2004 NHL Entry Draft.