Report: Callahan, Rangers Get Closer, But Plenty Of Work Still To Do

NEW YORK (CBSNewYork) -- At this point it's about both sides making concessions.

As the clock ticks toward Wednesday's 3 p.m. NHL trade deadline, the Rangers and captain Ryan Callahan at least appear to be interested in working something out.

After reportedly not speaking much if at all during the Olympic break, general manager Glen Sather and Callahan's representatives have been at it a lot over the last couple of days in the hope of working out an extension before the sides reach a point of no return.

And it appears there is some progress to report.

The Rangers have come off their five-year offer and agreed to a sixth year. Callahan, in turn, has come off his seven-year demand and would be fine with a year less, the Daily News reported Monday.

The sticking point now is yearly compensation. The Rangers appear to want to pay their soon-to-be 29-year-old forward no more than $6 million per season. Callahan had originally commanded $7 million per, but is now reportedly willing to take $6.5 million.

If the sides don't come to an agreement soon Callahan will most likely be traded by the deadline because the Rangers will not risk losing him for nothing in free agency.

Callahan has played his entire eight-year NHL career with the Rangers. He has 11 goals and 25 points this season.

If the sides work out a deal, the Rangers will have successfully locked up their two biggest impending free agents. Over the weekend they signed defenseman Dan Girardi to a six-year, $33 million deal.

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