If I am the Rangers, I hold on to Girardi. Now hear me out:
Trade Staal and Klein. Re-sign Yandle.
Hold on to Girardi for 1 more year in a diminished role (must go out and find a top-4 RD). See how he fares next year with a longer off-season and hopefully no off-season surgery. If he plays well, trade him. If he doesn't buy him out next year. That cuts down on 2 years of buy-out dead cap space and it gives the Rangers a bottom-4 minute eater who can PK.
Staal and Klein should be gone and they have value. If they buy-out Girardi and make those trades, that leaves McDonagh and MAYBE Yandle as NHL d-men? Would be nice to throw Girardi on the bottom-pairing for another season for experience and depth.