Fox Stays in the Big Apple
Reigning Norris Trophy Winner Re-Signs with the Rangers
Fox Stays Home
What’s Happening: Earlier this week, Adam Fox re-signed with the New York Rangers for 7 years at an average annual value contract of $9.5 million per year. This keeps both the term and contract figure in line with what some of the other top young defensemen have been fetching recently.
The biggest comparable to Fox’s contract is the 8-year, $76 million contract Seth Jones just signed with Chicago. It’s hard not to look at this contract and still think that the Rangers may have gotten off cheap. Fox is the reigning Norris Trophy winner and is arguably the best defenseman in the NHL right now. What’s more remarkable is that Fox is only 23 and this contract will end while he is still in the prime of his career. While it’s hard to think Fox can get any better than he is already, his natural progression over the past three seasons suggests that he is likely going to get better and will vastly outplay this contract.
Why It Matters: For Fox, this obviously means some security with the team that acquired him and has ushered his development through their rebuild over the past few seasons. As we mentioned, this contract is very much in line with what many other young and talented defenseman are fetching.
Fox will get to enjoy not only the contract but the years in which the Rangers are likely to contend, which could be a lot sooner than many people anticipated. With this new contract, Fox will be the focal point of the Rangers offense and defense, and he is a player that plays in all situations. It also demonstrates loyalty on Fox’s part to stay with the team that traded for him, gave him a chance and let him blossom into the superstar player he is today. It is likely he would have fielded offers better than this one but he decided to lock in long-term security today rather than have a potentially messy offer sheet situation play out next summer.
Bigger Picture: At $9.5 million AAV, this is an absolute steal of a contract for the Rangers, which is almost hard to believe for a player coming out of their entry-level contract. While the AAV of the contract is relatively high, there is a high degree of confidence that Fox will not only live up to this contract but is likely to outplay, which gives the Rangers surplus value. The Rangers were able to pull the trigger on a contract like this for Fox because, all things considered, they’re doing quite well when it comes to cap management. With the signing of Fox out of the way, the Rangers will only have roughly $65 million in cap commitments for next season with Ryan Strome presenting as the only real notable UFA.
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