Danzig
Well-Known Member
The Washington Capitals have traded All-Star forward Jaromir Jagr to the New York Rangers in exchange for forward Anson Carter.
''We've been trying to make this deal for quite some time,'' said Rangers head coach and general manager Glen Sather during a conference call Friday. ''If you look at his track record, he has been one of the successful players in the NHL.''
''We think we need a shot in the arm right now, he was available, we made the deal. We think that he's going to help us get into the playoffs and go far into the playoffs once we get there.''
TSN has learned the Capitals are picking up approximately $20 million of the remaining $44 million on the contract after this season. Sources have told TSN Jagr has agreed to defer $1 million a year for the balance of the contract. That money is deferred with interest and guaranteed.
Before the restructuring of his contract, Jagr was scheduled to earn $11 million a year in each of the next four seasons beyond this one. There is a club option for a fifth year, also at $11 million, but there are ways the fifth year could become guaranteed to Jagr in the event of the following:
If he scores 40 goals or 90 points and his team wins the first round of the playoffs in the final year of the contract.
If he scores 80 goals or 180 points in the final two years of the contract and his team wins two rounds of the playoffs.
If he wins a major award in the final three seasons of the deal or his team wins two Stanley Cups in that time.
The deal between the Caps and Rangers was effectively agreed to yesterday, sources said, but the re-structuring of the contract had to be negotiated this morning between the Rangers and Jagr's agent. With the addition of Jagr's contract, the New York Rangers now own the highest payroll in the NHL at over $78 million this season, surpassing the Detroit Red Wings.
Now Jagr will make $10 million a year for the balance of the contract with $1 million per year deferred with interest. Of that $10 million per year, the Caps are picking up about half for the four year period.
"This was a contract that we had to move," said Capitals vice president and general manager George McPhee. "Nobody wants to trade good players but if you can't afford it, you have to do so."
McPhee said he wouldn't have traded him if the team did not need to reduce payroll.
If he'd have scored 300 points, we still couldn't afford him,'' said McPhee. ``He's a really good player.
It was a nice try by us. It was a chemistry experiment that didn't work. We'll see what else we can do to build a good team.''
"This trade is a good one in that it moves the largest player contract in the NHL to a team that can absorb it, and it provides us with options as we seek to improve our team," Washington majority owner Ted Leonsis said. "With our current payroll, our ability to improve was hindered as well as our flexibility to plan for the future as we move towards a possible new NHL business model."
When the Capitals and the Rangers broached the subject in late November, Washington was believed to be willing to assume about $20 million of Jagr's contract.
A six-time first team All-Star, Jagr, 31, is second on the Capitals in scoring this season with 16 goals and 29 assists for 45 points in 45 games.
Carter, who led Canada to a gold medal at the IIHF World Hockey Championship last spring, returns to the team where he made his NHL debut. Carter played 19 games with the Capitals in 1996-97 after being traded from the Colorado Avalanche.
In eight NHL seasons with the Rangers, Capitals, Edmonton Oilers and Boston Bruins, the 29-year old has 153 goals and 174 assists. He has 10 goals and seven assists in 45 games with the Rangers this season.
"Anson is a proven 20-goal scorer, and we're glad to have him back in Washington," said McPhee. "On the other hand, Jaromir is a great player, and we hope our fans enjoyed watching him play."
Jagr has not provided the payoff expected when the Capitals made him the highest paid player in the league. The team failed the reach the playoffs in his first season and was eliminated in the first round by Tampa Bay last year. Attendance has sagged for a franchise that was already losing some $20 million per year.
Jagr has fought sporadic slumps and injuries to average about one point per game with the Capitals, but those numbers are well down from his superstar years with the Penguins.
The Capitals players said their goodbyes at a dinner with Jagr on Thursday night, said winger Mike Grier.
It's something that's been brewing,'' added Grier. ``But it's always tough to lose a teammate, especially one as skilled as Jags.
Anson's a great player. He's not going to put up the numbers Jagr did, but he'll score 20-to-30 goals a year. He's a good addition.''
''We've been trying to make this deal for quite some time,'' said Rangers head coach and general manager Glen Sather during a conference call Friday. ''If you look at his track record, he has been one of the successful players in the NHL.''
''We think we need a shot in the arm right now, he was available, we made the deal. We think that he's going to help us get into the playoffs and go far into the playoffs once we get there.''
TSN has learned the Capitals are picking up approximately $20 million of the remaining $44 million on the contract after this season. Sources have told TSN Jagr has agreed to defer $1 million a year for the balance of the contract. That money is deferred with interest and guaranteed.
Before the restructuring of his contract, Jagr was scheduled to earn $11 million a year in each of the next four seasons beyond this one. There is a club option for a fifth year, also at $11 million, but there are ways the fifth year could become guaranteed to Jagr in the event of the following:
If he scores 40 goals or 90 points and his team wins the first round of the playoffs in the final year of the contract.
If he scores 80 goals or 180 points in the final two years of the contract and his team wins two rounds of the playoffs.
If he wins a major award in the final three seasons of the deal or his team wins two Stanley Cups in that time.
The deal between the Caps and Rangers was effectively agreed to yesterday, sources said, but the re-structuring of the contract had to be negotiated this morning between the Rangers and Jagr's agent. With the addition of Jagr's contract, the New York Rangers now own the highest payroll in the NHL at over $78 million this season, surpassing the Detroit Red Wings.
Now Jagr will make $10 million a year for the balance of the contract with $1 million per year deferred with interest. Of that $10 million per year, the Caps are picking up about half for the four year period.
"This was a contract that we had to move," said Capitals vice president and general manager George McPhee. "Nobody wants to trade good players but if you can't afford it, you have to do so."
McPhee said he wouldn't have traded him if the team did not need to reduce payroll.
If he'd have scored 300 points, we still couldn't afford him,'' said McPhee. ``He's a really good player.
It was a nice try by us. It was a chemistry experiment that didn't work. We'll see what else we can do to build a good team.''
"This trade is a good one in that it moves the largest player contract in the NHL to a team that can absorb it, and it provides us with options as we seek to improve our team," Washington majority owner Ted Leonsis said. "With our current payroll, our ability to improve was hindered as well as our flexibility to plan for the future as we move towards a possible new NHL business model."
When the Capitals and the Rangers broached the subject in late November, Washington was believed to be willing to assume about $20 million of Jagr's contract.
A six-time first team All-Star, Jagr, 31, is second on the Capitals in scoring this season with 16 goals and 29 assists for 45 points in 45 games.
Carter, who led Canada to a gold medal at the IIHF World Hockey Championship last spring, returns to the team where he made his NHL debut. Carter played 19 games with the Capitals in 1996-97 after being traded from the Colorado Avalanche.
In eight NHL seasons with the Rangers, Capitals, Edmonton Oilers and Boston Bruins, the 29-year old has 153 goals and 174 assists. He has 10 goals and seven assists in 45 games with the Rangers this season.
"Anson is a proven 20-goal scorer, and we're glad to have him back in Washington," said McPhee. "On the other hand, Jaromir is a great player, and we hope our fans enjoyed watching him play."
Jagr has not provided the payoff expected when the Capitals made him the highest paid player in the league. The team failed the reach the playoffs in his first season and was eliminated in the first round by Tampa Bay last year. Attendance has sagged for a franchise that was already losing some $20 million per year.
Jagr has fought sporadic slumps and injuries to average about one point per game with the Capitals, but those numbers are well down from his superstar years with the Penguins.
The Capitals players said their goodbyes at a dinner with Jagr on Thursday night, said winger Mike Grier.
It's something that's been brewing,'' added Grier. ``But it's always tough to lose a teammate, especially one as skilled as Jags.
Anson's a great player. He's not going to put up the numbers Jagr did, but he'll score 20-to-30 goals a year. He's a good addition.''
