Kasparaitis also candidate for buyout

Updated: June 23, 2005, 12:23 PM ET
ESPN.com news services

Bobby Holik wants to be part of the Rangers' rebuilding program, but he might not get the chance to be.

Bobby Holik
Holik

According to a report in the New York Daily News, Holik knows there's a good chance his contract will be bought out.

According to the report, sources familiar with labor negotiations say one feature of a new collective bargaining agreement will be a one-time buyout option that will allow teams to get under the new salary cap. Contracts bought out at the two-thirds rate would be erased from teams' ledgers, but the catch is that teams couldn't re-sign players they buy out.

There are still two years remaining on Holik's five-year, $45 million deal. With those salary numbers left, the Daily News reported that Holik's contract alone would take up a large chunk of the expected $36 million to $38 million salary cap, even after a 24 percent rollback would cut his remaining salary to $6.635 million per year.

"Even with the rollback, $6.7 million is a lot of money," the center told the Daily News. "I'll tell you what, it's definitely a lot of money for the new environment. Of course, it was a lot of money for the old environment -- it just is a lot of money.

"If it doesn't count against the cap, there are a lot of things they can do with that space," he said.

According to the report, when the new collective bargaining agreement is finalized, the Rangers are expected to rebuild around Jaromir Jagr -- leaving both Holik and defenseman Darius Kasparaitis, who has three years remaining at a total of $12.8 million, out in the cold.

"Obviously, the two years in New York were hard," Holik told the Daily News. "But at the same time, kind of looking forward, I was looking forward to the challenge with the new, young and enthusiastic team.