Supply and Demand: The Rangers Learn a Lesson from Redden's Contract

Henrik Lundqvist is a pretty good goalie, right? I mean, by all standards, we could all agree that he is a top-five goalie in the National Hockey League at the present moment, correct?

Good, now that we have that settled, we could also agree that Wade Redden is a top-five defenseman in the NHL, right? No, you say? He isn't? Then why on earth is he being paid nearly the same amount of money ($6.5 million per season) as one of the best goalies in the NHL?

That is the question that was bouncing around my head for months after the opening of the free agency period. I could not for the life of me understand why Sather would go out and spend an obscene amount of money on a defenseman who specializes on a good first pass out of the zone, and his offensive capabilities for a defenseman. Luckily for me, my answer came.

About one month ago, I was watching a Rangers broadcast on the MSG Network here on Long Island. According to color analyst Joe Michelletti, the New York Rangers had several major competitors in the Wade Redden sweepstakes this past offseason.

The fiercest competitor was apparently the Calgary Flames, who had offered Wade Redden the same exact contract that the Rangers have him signed to now (six years at $6.5 million per season). Michelletti stated that the Rangers just had to match the Flames' contract offer in order for Redden to be a blueshirt.

Unfortunately, the Rangers did match the Flames offer.

As the Flames drove up the price, the Rangers were quick to match it and take home what they thought would be a prized possession. Since there was such a short supply of great offensive defensemen in last year's free agent market, and such a high demand, the Rangers were quick to jump on the one that was considered better than the rest.

Unfortunately, in my personal opinion, Redden's woes in Ottawa have become even worse in New York City.

Why did I use the term "unfortunately" when explaining the Rangers signing of Redden? Simple answer, he has been just awful for the Rangers this season. Through 40 games played this season, Redden has posted just two goals and 14 assists for a whopping 16 points.

While his offensive production is not great by any means, his defensive numbers are worse. Redden is a minus six in the plus/minus category for a team that is in third place in the Eastern Conference. Suffice to say, it has been one tough year thus far for Redden.

Watching him play has been very hard for any Ranger fan. Knowing that he is eating up a large portion of the salary cap that could have been used to land Mats Sundin several weeks ago hurts even more.

His problems are numerous on the ice. First, and foremost, he is easily being beaten in one-on-one situations. For a guy that is 6' 2" and weighs 212 pounds, it is unreasonable for him not to use his body to his benefit. Secondly, he causes unnecessary turnovers in all three zones.

Watching him play throughout the season, I find Redden to be very nervous with the puck, and it leads him to make hasty decisions that result in turnovers and goals. Third, Redden does not seem to be utilizing his speed, which was a large part of his success two years ago with the Ottawa Senators.

As hard as it has been for Redden this season, it has been equally as hard for Ranger fans to watch him play. Furthermore, it hurts for Ranger fans to look ahead to this July 1 and see that they have a tremendous amount of their salary cap locked up in such a small number of players.

To be exact, the Rangers will have $36.782 million locked up in just six players for next year. The only other three players signed for next year, who are not included in that total number, are Marc Staal, Dan Girardi, and Aaron Voros.

If the salary cap were to remain at $56.2 million for next season, the Rangers would have under $20 million to invest in 14 players. It is still very early to discuss a buy-out, which would be very costly for the New York Rangers.

However, I do believe it is not too early to start looking around for trade options. Although his stock has fallen significantly, Redden could still find a taker at his high salary sometime before this year's trade deadline.

If you beg to differ with trading Redden, answer one question for me. Who is worth more to you: Wade Redden or Brandon Dubinsky? With Redden's expensive salary, and the Rangers necessity to fill out a roster for next year, Dubinsky might be the odd man out when he seeks a contract upwards of $4.5 million this summer.

What about if we bring up the fact that Zherdev is a free agent as well? Imagine losing both Zherdev and Dubinsky to free agency next year? That is some scary news for Ranger fans!

While the Rangers have not been mentioned much in the rumor mill as of late, I would definitely keep an eye on them. It seems as if Glen Sather is going to be working as hard as any general manager in the National Hockey League.

I am sure this time around though, he will remember his economics class from college that taught him the ropes of supply and demand. Best of luck to him, and all of the nervous Ranger fans out there.