23-24 with no Major Players Traded and a 1M Cap Increase

no way MIller signs that deal, he wont show up to camp. At best maybe he does a 2/4mil so he can cash in when the cap jumps.

It might be a little light, but not by that much.

I could see $4.5M over 3 as a max point.

Maybe, Sergachev is the best comp at 3x4.8mil but that was the cap was frozen. I still think their main priority this offseason should be to lock him up as long as possible.

when the cap was frozen because of the pandemic*

The issue isn't wanting to lock up Miller. Of course that would be the most ideal option.

But with the Cap not rising fast enough, and the Rangers already having too many large and immovable Contracts with NMC's, the Rangers are currently squeezed too tight to give him anything larger.

Even with the 3 year deal that you think I lowballed him with, they're right against the Cap.