Jaromir Jagr was traded to the New York Rangers yesterday, capping more than six months of off and on negotiations that brought to and end a disappointing 2 1/2 year stay with the Washington Capitals.
Jagr was traded for forward Anson Carter, but most of the negotiations centered on how much of Jagr's $11 million-per-year contract the Capitals would continue to pay as the cost-conscious NHL heads toward a possible lockout next seasons.
"This trade is a good one in that it moves the largest player contract in the NHL to a team that can absorb it, and it provides us with options as we seek to improve our team," Capitals owner Ted Leonsis said.
...
Leonsis said he had to move Jagr because of the "new economic reality" the league is facing with the expected lockout and the possible salary cap that could follow.
"With our current payroll, our ability to improve was hindered as well as our flexibility to plan for the future as we move toward a possible new NHL business model, " Leonsis said.
Jagr has not provided the payoff expected when the Capitals acquired him from Pittsburgh in 2001...
...
Attendance has sagged for a franchise that was already losing about $20 million per year.