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Money can't buy happiness, but it can buy bacon
Stepan averaged 65 pts/82 games this season. He's NYR's only option for 1st line centre and that is some good leverage right there. With a 6 year deal they're buying at least one UFA year (I'm guessing more). It seems inflated but it's probably pretty close to market rate.
The Rangers did buy 4 years of UFA with this contract, so upon further review, it's not as bad as it first sounds.