New York Rangers Sign Alexis Lafrenière to Three-Year Entry-Level Contract
The New York Rangers have officially signed No. 1 overall pick Alexis Lafrenière to a three-year entry-level contract.
Pen ➡️ Paper ➡️ #NYR.
— New York Rangers (@NYRangers) October 12, 2020
It's officially, officially official: Welcome to the family, Alexis Lafreniere! pic.twitter.com/zDyJOY5UQO
The deal comes with full bonuses, as has been customary for No. 1 overall draft picks.
In line with all 1st overall picks, Alexis Lafreniere's deal with the #Rangers is set at the EL max
— CapFriendly (@CapFriendly) October 12, 2020
$925k caphit
$3.775M AAV
$11.325M total value
$832,500 Base Salary (all 3 yrs)
$92,500 Signing Bonus (all 3 yrs)
$850k Sched 'A' Bonus (all 3 yrs)
$2M Sched 'B' Bonus (all 3 yrs) https://t.co/Vm819WHPag
His jersey number will be No. 13.
Lucky No. 1⃣3⃣. @Alexlaff13 | #NYR pic.twitter.com/aKUUcA7Mdn
— New York Rangers (@NYRangers) October 12, 2020
With Lafrenière now under contract officially, the Rangers have $18,804,367 in on paper cap space. But when it comes to bonus threshold for players, the Rangers are already projected to be over the 7.5% allowed ($6,112,500 of an $81.5 million cap) and anything over that amount is held against the salary cap to start the season which could be as much as $4.8 million.
This means the team’s working cap space is actually about $14 million, although some bonus money can get deducted from the threshold as certain conditions become impossible to meet.
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