Rangers buy out star goaltender Lundqvist’s contract

The “King” of Madison Square Garden has been deposed. The New York Rangers bought out the contract of star goaltender Henrik Lundqvist on Wednesday, parting ways with one of their greatest players in franchise history after 15 mostly spectacular seasons.

“Few players have been as important to the Rangers franchise as Henrik Lundqvist, and we are incredibly grateful for all he has done for our organization,” said James L. Dolan, executive chairman and CEO of MSG Sports. “Over his 15-year tenure, he not only established himself as one of the best goaltenders to ever play the game, he has also been one of hockey’s fiercest competitors and most effective ambassadors. He will always be a part of the Rangers family.”

In buying out the final year of the 38-year old’s contact, the Rangers will save $3.7 million in cap space for next season. Lundqvist is now a free agent. The Rangers traded veteran defenseman Marc Staal and a second-round draft choice to Detroit in another cap move.

Since joining the team in 2005-06, Lundqvist has won the Vezina Trophy (201112), led the Rangers to the Stanley Cup Final (2014) and been selected to the All-Star

Game five times. He also helped Sweden win gold at the 2006 Turin Olympics.

Lundqvist tweeted a thank-you after the move and many friends congratulated him, including tennis great Roger Federer.

“15 years ago, I played my first game for @NYRangers I came here with high hopes and big dreams but in my wildest imagination, I could never have pictured the amazing ride that lay ahead..,” he wrote.