10:25AM: Callahan has a full no-trade clause the first four years of the deal and will submit a list of teams in the final two years. (Katie Strang)
9:27AM: The official trade between the Rangers and Tampa Bay is:
- New York acquires: Marty St. Louis and a 2015 second round pick
- Tampa Bay acquires: Ryan Callahan, 2014 and 2015 first round picks, 2015 seventh round pick.
9:23AM: The salary breakdown for Callahan's contract is $6 million, $6.4million, $6.5 million, $6.5 million, $4.7 million, $4.7 million. (Pierre LeBrun)
9:21AM: Callahan said in a Tampa Bay press release, "I couldn't be happier to be part of the Tampa Bay Lightning organization for the next six years and I am excited for this new chapter of my career. Tampa Bay has been a great place to live and play from the day I got there. As soon as the season ended I knew it was a place I wanted to be."
9:19AM: Callahan and Tampa Bay have officially come to terms on a deal. (Erlendsson)
9:15AM: The deal, when it's finalized, will be SIX-YEARS and a cap hit of $5.8 million with a partial no-trade clause. (Pierre LeBrun)
9AM: There is no deal yet between Cally and the Lightning but it's expected to get done this morning. (Erlendsson)(Bob McKenzie)
6:53AM: One of Ryan Callahan's agents, Scott Bartlett, tweeted last night "Very productive talks today between SCG and @TBLightning regarding pending UFA Ryan Callahan. Finding common ground toward new deal"
That was followed up by a report saying that Callahan is "on the verge" of signing a long-term extension that would keep him with Tampa Bay. (Sportsnet, Chris Johnston)
The deal is believed to be "in excess" of five-years and worth as much as $5.5 million. (Sportsnet, Chris Johnston)
If Callahan does sign in Tampa Bay the Rangers would acquire the Lightning's 2015 second round pick as a condition of the Marty St. Louis trade. The Rangers would send a 2015 seventh round pick to Tampa.
The Rangers and Callahan were believed to be close to a six-year deal worth just over $6 million per year when he was traded.
It's believed that the lack of an income tax in the state of Florida will allow Callahan to take/ask for less money than he would have from the Rangers.
Callahan was originally seeking seven-years from the Rangers but had to drop to six when the Rangers signed Dan Girardi to a six-year deal.
10:01AM | Adam Rotter: I think this is the contract that the Rangers wanted to give Callahan, maybe without the no-trade clause, but it wasn't the contract Callahan wanted from the Rangers. I wonder how much the Rangers going to the Stanley Cup Final changed his approach to where he wanted to sign. It was thought that he would end up in Buffalo with a ton of money but Buffalo is about as far from the Stanley Cup as you can be and after seeing the Rangers come so close I think Callahan wanted to be in a similar position of being on a top team in the East. I still think the Rangers made the right move in trading Callahan and getting Marty St. Louis because I don't think they could risk Callahan going for nothing and because Marty St. Louis made them better and helped bring them as far as they had gotten in 20 years. It was a lot to give up, especially with the second round pick turning into a first, but that is worth it when you get a chance to be one of the Final Four teams and then advance to win the Eastern Conference. Marty St. Louis still has a few years left in him and if he can help bring the Rangers anywhere close to where they were this year, it will definitely be a deal that was worth it.