The New York Rangers will be looking to make some major moves ahead of the trade deadline. Chris Drury, the team’s unpopular GM, recently made it known that New York is heading for a “retool.” While Drury avoided calling the situation a full rebuild, the club is expected to trade some of its best players in the coming weeks.
The most significant player set to leave the Rangers is Artemi Panarin. The 34-year-old star is in the final year of his massive seven-year, $81.5 million deal. It was revealed early in the 2025-26 season that the two sides had discussed a potential extension. New York, however, was looking to re-sign the forward to a team-friendly contract. Panarin, on the other hand, is not looking for a pay cut.
With Panarin on the trade block, several suitors have begun to line up. After all, the Russian is widely considered to be one of the better wingers in the NHL. Although multiple contending teams will be interested in the forward, Rangers beat writer Vince Mercogliano claims that the Washington Capitals and Colorado Avalanche are considered frontrunners.
The Capitals appear to be in a better position to land Panarin, though. Unlike Colorado, Washington has the combination of a solid prospect pool and high 2026 draft picks. ESPN recently ranked the Avalanche as the 28th-best prospect pool in the NHL, while the Capitals sat in the ninth spot. Colorado also does not have a pick in the first three rounds of the upcoming draft.
Artemi Panarin Could Link Up With Fellow Russian Star in Washington
GettyArtemi Panarin currently leads the New York Rangers with 56 points in 2025-26.
Mercogliano’s peer at The Athletic, Sean Gentille, reiterated these points on January 20. “The Capitals are openly looking for a high-end winger, have a solid crop of prospects, and have all of their own first-round picks for the foreseeable future,” claimed Gentille.
“Panarin would push them squarely back toward the top of the Metro Division, set them up for another playoff run with Alex Ovechkin and potentially fit with the rest of a win-now core for the next few years.”
Washington sits middle of the pack with an average of 3.18 goals per game so far during 2025-26. After finishing with the most points in the Eastern Conference a year ago, the Caps are currently outside of a playoff spot. Potentially adding Panarin would undoubtedly give the team a significant boost heading towards the home stretch.
Many would assume that Panarin would fit in nicely in D.C. due to a Russian connection with Ovechkin. This, however, may not exactly be the case. Although they are compatriots, Panarin and Ovechkin are not close. The Rangers star has previously criticized Russian President Vladimir Putin, while the NHL career leader in goals has remained friends with the controversial figure.
New York Rangers can Raid Washington’s Highly-Rated Prospect Pool
Despite the minor issue, the Capitals seem best suited to target Panarin. Although the teams are division rivals, the Rangers could get what they want from Washington. The Athletic recently noted that the Caps have five of the best 137 players under the age of 23. Current NHL players Ethen Frank, Hendrix Lapierre, and Declan Chisholm could be on the table as well.
The Capitals could also afford to take on a majority of Panarin’s hefty salary. According to PuckPedia.com, the Capitals have ample cap space to work with. Ultimately, Panarin will be able to pick his next destination due to a clause in his current contract. Nevertheless, there is a potential match with Washington.
Rangers Rivals Emerge as Frontrunners to Land Panarin