Henrik Lundqvist to be bought out by the Rangers this week

The end of an era is coming in New York, as the Rangers are expected to buy out the final year of veteran netminder and long time fan-favourite Henrik Lundqvist's 7-year, $59.5M deal, per TSN's Darren Dreger.

Dreger announced the news on TSN program "Insider Trading" on Tuesday, leaving many around the hockey world at a loss for words, as this may very well be the last time we see "The King" in the National Hockey League.

Long revered as one of the absolute best goaltenders in the business, Lundqvist has been in a steady decline for several seasons, and though a buy-out was necessary at this stage of his career, given his lofty cap hit ($8.5M AAV), it doesn't take the sting away for Lundqvist, nor his millions of adoring fans.

"Unfortunately for Henrik Lundqvist, there will be a separation from the New York Rangers by form of that buyout," Dreger said on Tuesday.

"This would not come easy to the New York Rangers, again, given everything that Lundqvist has provided to the Rangers as an organization. This was a tough decision but a decision that has to be made moving forward."

Now 38 years old, Lundqvist has spent his entire 15-year NHL career with the Blueshirts, setting franchise records in wins, shutouts, and games played. The Rangers made the playoffs in 11 of those 15 years.

Despite his rapid decline over the last 3 or 4 seasons, Lundqvist still holds a magnificent 2.44 GAA to go along with a sparkling .918 SV% through his entire NHL career. In other words, Lundqvist is a an absolute lock to become a Hall-of-Famer, and rightfully so.

The 2011-2012 Vezina Trophy winner sits 1st among active goalies and 8th all-time in NHL games played with 887. He also sits 2nd on the active list for wins with 459, trailing only Marc-Andre Fleury (466). The King's 459 wins is good for 6th all-time.

While there's still a possibility that Lundqvist could find another home in the NHL, many pundits believe that Hank may call it a career, though returning home to Sweden and continuing his playing career there is another option, and one that is far more likely, in my opinion.

Though nobody is taking joy in the way things are unravelling for Lundqvist, the future for the Rangers in between the pipes does look bright, as the team possesses a pair of very capable young goaltenders, no doubt mentored by The King, in 24-year-olds Alexandar Giorgiev and Igor Shesterkin.

Lundqvist will turn 39 on March 2nd.

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