Multiple sources are reporting that the New York Rangers
will buy out the final year of the contract of team captain Chris Drury
at some point after the NHL's buyout period begins next week.
The buyout period starts June 15 or 48 hours after the completion of the Stanley Cup Final, and runs through June 30.
According to CapGeek.com, Drury is scheduled to make $5 million in 2011-12; buying out that deal would reduce his cap hit to $1,666,667 for the 2011-12 and 2012-13 seasons.
Injuries limited Drury to 24 games this past season, and he finished with just 5 points. His only goal came in the Rangers' win against the Devils in their regular-season finale, which combined with a loss by the Hurricanes to the Lightning later that day allowed New York to make the playoffs.
A two-time 30-goal scorer while playing for the Sabres, Drury scored 25 and 22 goals and finished with 58 and 56 points during his first two seasons with the Rangers, but his production dropped the following season before injuries took their toll during the 2010-11 season.
The 34-year-old Drury was a third-round pick by Quebec in 1994, and after the franchise moved to Colorado he debuted with the Avalanche during the 1998-99 season. In 892 regular-season games with the Avalanche, Flames, Sabres and Rangers, he has 255 goals and 615 points. He also has 47 goals and 89 points in 135 playoff games, and won a Stanley Cup with the Avalanche in 2001.