Report: New York Rangers permit Wade Redden to seek trade

The Rangers have given defenseman Wade Redden's agent permission to speak to other NHL teams and arrange a trade, according to Larry Brooks of the New York Post.

Redden, who will not be invited to camp by the Rangers, has two years remaining on a six-year, $39 million deal and is not in the team's plans after playing the last two years in the minors. The previous collective bargaining agreement allowed the Rangers to keep his $6.5 million cap hit off the books by assigning him to the AHL. The new CBA, however, will not allow teams to hide big salaries -- after the first $900,000 -- in the minors, thus forcing the Rangers' hand.

Most potential trade partners are unlikely to want to take on all of Redden's big contract, possibly forcing the Rangers to pay a portion as part of a deal. Or the Rangers could let Redden sit, wait for the summer compliance period and buy him out.