Top buyout candidates for Rangers, Islanders

The NHL’s first buyout window opened at 5 p.m Friday and will close at that same time on Oct. 6, the day of the Entry Draft. Each team will have a second window of 24 hours from late October into early November, following its final arbitration settlement.

The Rangers have a handful of potential candidates for a buyout. Here are the cap ramifications.

Henrik Lundqvist: The 38-year-old netminder has one season at a cap hit of $8.5 million remaining on the seven-year extension that went into effect in 2014-15.

A buyout would save $3 million on the cap for 2020-21, but would add $1.5 million in dead space for 2021-22.

Brendan Smith: The 31year-old defenseman has one season at a cap hit of $4.35 million remaining on the four-year deal he signed, following his impressive work as a rental in the 2016 playoffs while paired with Brady Skjei.

A buyout would save $1,566,667 on the cap for this season but add $783,333 in dead space for 2021-22. In addition, if Smith were sent to the AHL this year, the Rangers would save $1.075 million on the NHL cap. So a buyout would save the team only $491,667 as compared to a minor league demotion, and without incurring a penalty the following year.

The Islanders have two potential buyout candidates. Here are the cap ramifications.

Andrew Ladd: The 34year-old left winger has three seasons at a cap hit of $5.5 million remaining on a seven-year, bonus-laden deal to which former Islanders general manager Garth Snow signed him in July 2016. A buyout would save the Islanders total $2 million but would add $333,333 in dead space in 2023-24, 2024-25 and 2025-26.

Since teams can save $1.075 million against the cap by waiving and sending a player down to the AHL, buying out Ladd’s contract would save the Islanders less than burying it for the remaining three years. If the Islanders are permitted to assign Ladd to Bridgeport or to the long-term injured reserve to start the season, the organization would be free to use as much of his $5.5 million cap hit as they are over the $81.5 million cap hit.

Leo Komarov: The 33-yearold forward has two seasons at a cap hit of $3 million remaining on a four-year deal that began in 2018-19. A buyout would save the Islanders total $2.33 million but add $583,333 in dead space in both 2022-23 and 2023-24. If the Islanders opted to send Komarov to the AHL two years in a row, it would save the organization $2.22 million.