The New York Rangers are headed for a significant crossroads in the coming months. Despite having minimal current cap space to work with, the team has struggled throughout the 2025/26 season. Although the team remains just one point out of a playoff place, they have played more games than any Eastern Conference club.
On top of on-ice struggles, the Rangers could also soon lose their best player. Artemi Panarin is currently in the final year of his massive seven-year, $81.5 million contract with the team. As a result, he is likely headed towards free agency in the summer of 2026.
It was previously revealed that New York prefers to re-sign the star on a team-friendly deal. Panarin, however, is apparently not interested in taking a pay cut. Because of this, negotiations between the two sides have shut down in recent weeks. Assuming an agreement on an extension is not completed by the March 6 trade deadline, Panarin could be dealt to another team. This is almost certain to be the case if the Rangers continue to play subpar hockey.
If Panarin is traded, fans of the team would likely expect a big return in the deal. This, however, may not be the case. Bleacher Report is claiming that New York is likely to receive an underwhelming package for Panarin if traded. This would be frustrating for the fans because the star is easily the team’s best forward. In fact, Panarin currently leads the Rangers in goals and assists at the moment.
The New York Rangers Will Hope Artemi Panarin does not take Brad Marchand Stance
GettyArtemi Panarin continues to star for the New York Rangers despite the team’s struggles.
Although Panarin is still excelling on a disappointing team, he holds all of the control in the precarious situation. This comes down to the fact that the forward has a full no-trade clause in his contract. Assuming the Rangers want to trade him, Panarin essentially controls his own destiny and must approve the deal.
The Rangers could run into problems if Panarin only has eyes for one suitor. As Bleacher Report points out, this scenario was recently played out in Boston. The Bruins were essentially forced to trade Brad Marchand to the Florida Panthers ahead of the 2024-25 deadline.
The veteran was wanted by several teams at the time, but he only wanted to join the Panthers. As a result, the Bruins received just a 2027 conditional draft pick. Marchand, despite turning 37, has been a key piece of the puzzle for the reigning Stanley Cup champions. The forward currently has 20 goals and 20 assists in 34 games in 2025-26.
Panarin is set to be the Most Coveted 2026 NHL Free Agent
New York will hope that Panarin does not follow the same path as Marchand. Nevertheless, even if there is a potential bidding war for the Russian, the Rangers still may not receive full value. Former major deals at the trade deadline, including Jarome Iginla and Ilya Kovalchuk, proved to bring back lackluster returns.
With Jack Eichel and Adrian Kempe recently agreeing to contract extensions with their teams, Panarin is now the top-rated pending free agent. This puts Panarin in a very advantageous situation. He will likely receive better financial offers in free agency than in New York. Unfortunately for the Rangers, they may just have to get what they can for their star ahead of the deadline rather than watch him walk away for nothing in the summer.
Rangers Likely to Get Underwhelming Package if Panarin is Traded