What Are the Next Steps for the Rangers After Waiving Barclay Goodrow?

The Rangers recognize the need for additional salary cap space to address their offseason requirements and have taken their first step to create some financial flexibility.

On Tuesday afternoon, Barclay Goodrow was placed on waivers, and the Blueshirts now wait 24 hours to see if any team claims the veteran forward.

A claim would be the simplest solution, with the claiming team taking on the full responsibility for the final three years of Goodrow's contract, which carries an average annual value (AAV) of $3,461,667.

If Goodrow goes unclaimed, the Rangers have two options. They could bury him in the minors, saving $1.15 million but leaving a $2,491,667 cap hit. Alternatively, and more likely, they could buy him out when the NHL's buyout window opens 48 hours after the Stanley Cup Final ends.

A buyout would provide a unique benefit by not only shedding Goodrow's full $3.462 million cap hit for the upcoming season but also adding $247,222 in cap savings, totaling $3.889 million. However, it would incur penalties over the next five seasons: a $1,002,778 cap hit in 2025-26, a $3,502,778 hit in 2026-27, and a $1,111,111 hit for the following three seasons through 2029-30.

New York Rangers center Barclay Goodrow (21) looks on after scoring against the Florida Panthers during the second period of Game 3 of the Eastern Conference Final.
Chris Drury, in his three years as team president and general manager, has yet to execute a buyout but seems to have concluded that more financial flexibility is necessary to elevate a roster that has reached the Eastern Conference Final twice in the last three years.

"Everything's on the table," Drury stated during a June 7 Zoom call.

It's not that the Rangers no longer value Goodrow's contributions. Drury emphasized the desire to become a "heavier, more physical team" better suited for playoff success. Goodrow, a two-time Stanley Cup champion, fits this mold and has contributed to a winning culture since his acquisition in the summer of 2021. However, his AAV is quite high for a player primarily used in a fourth-line role, leading to this difficult decision.

Goodrow's regular-season impact has diminished, especially this past season. After recording 31 points or more in his first two years with the Rangers, he managed only 12 points (four goals and eight assists) in 2023-24, along with a team-worst 39.47% expected goals for percentage (xGF) among players who appeared in at least 50 games, according to Evolving Hockey. While he had a strong playoff performance with six goals in 16 games and was instrumental on the penalty kill, it wasn't enough to justify his salary.

Drury also expressed confidence in "internal candidates" to fill the bottom-six roles, potentially opening opportunities for prospects like Matt Rempe and Adam Edström to step up at a lower cost.

The Rangers likely attempted to trade the 31-year-old, but his 15-team no-trade list may have complicated those efforts. By placing Goodrow on waivers, the teams he could have blocked a trade to are now eligible to claim him, creating more possibilities for a resolution.