The Rangers held a cap hit of $9 million prior to this move which will not leave the team much wiggle room to land a large free agent including Jake Guentzel, Jonathan Marchesseault and Sam Bennett who will all be pending unrestricted free agents come July 1st.
With Goodrow removed from the roster, the Rangers now hold $12.8 million in cap space, and it was evident in the Eastern Conference final that the Rangers will need to make changes to their lineup especially in primary scoring five on five. Throughout the season and in the playoffs, the team always relied on its power play for its goals and it's clear that they need to make changes to improve goals at even strength.
It seems unconceivable since the team won 55 games which gave them a new franchise record and the president's trophy. However, flaws were appearing throughout the playoffs and it's clear that jury wants to make changes which requires capital to be spent.