The difference is the Red Wings has a solid shot at the Cup and weren't the over the hill gang. The Rangers paid players based on how many years ago they should have retired.
Big market teams are the ones that make absurd OFFERS which drive up the price of players both through the agents and arbitration.
The Rangers might be able to make money with a $75 mil payroll, but they can't win games with it.
Yeah...I guess it was the big market Islanders that threw $10+ mill to Yashin, the big market Caps who threw $11+ mill at Jagr, and the ultra-large market Carolina Hurricanes that offerred a ridiculous contract to then FA Federov frocing the Red Wings to pay him $12 mill. There's plenty of blame to go around.
And, if the Rangers can't win with a $75 mill payroll, and the owners refuse to revenue share in any meaningful way, why do they care?
Arbitration has led to the salary escalation, because the NHL restricts FA until 31.