Why the New York Rangers Should Consider Not Extending Artemi Panarin
Artemi Panarin has undoubtedly been a standout player for the New York Rangers since joining the team in 2019. With the most points of any UFA signing in the team’s history, he’s been everything the Rangers could’ve hoped for and more. But with the upcoming changes in the league, should they consider extending him?
Entering the 2026-2027 season, the Rangers find themselves in a unique situation. The NHL recently announced a significant increase in the salary cap, which could rise by up to $10 million after the upcoming season. With fans calling for changes to the current team structure, this presents a huge opportunity for the Rangers to make a big move—either through a trade or free agency. Yesterday, Blue Line Station’s Justin Bonhard examined the pros and cons of Panarin’s future with the team, and now it’s my turn to offer some perspective.
The 2026-2027 UFA Class
The 2026 free agency class is shaping up to be one of the deepest in recent memory. Big names like Connor McDavid and Jack Eichel will likely be on the table, although it’s unlikely that the Rangers could land those superstars. However, the list doesn’t stop there. Other stars like Kirill Kaprizov, Cale Makar, Jason Robertson, and Kyle Connor are all set to hit the open market—players who would instantly improve any team in the league. The best part? These players would be available without the Rangers having to trade valuable assets to get them.
Sure, it’s possible that some of these players will re-sign with their current teams before they hit free agency, but for Chris Drury and the Rangers front office, it’s an opportunity worth considering. Adding any one of these players would be a game-changer for a team that, just last season, had a series lead over the eventual Stanley Cup-winning Florida Panthers.
The Cap Crunch
While extending Panarin for a team-friendly deal might still be possible, there’s no denying that the landscape has shifted. With the salary cap increase on the horizon, star-caliber contracts are climbing rapidly across the league.
Let’s assume Panarin were to sign an extension for $10 million AAV—this would be just $1.6 million less than his current deal. With the rising cap, the Rangers could potentially gain nearly $22 million in cap space simply by letting his contract expire. That’s not even factoring in any additional cap flexibility they might gain through other moves. This is a rare financial opportunity that could allow the Rangers to pursue some of the hottest names on the market next offseason.
What Does the Future Hold for Panarin?
Personally, I wouldn’t be opposed to the Rangers extending Panarin. When he’s on, he’s undeniably one of the most dynamic players in the NHL. Over the past six years, he ranks fourth in total NHL scoring, trailing only Nathan MacKinnon, Leon Draisaitl, and Connor McDavid. Despite some critics who point to his cap hit, playoff performance, and tendency to avoid shooting the puck, Panarin has cemented his place as one of the best players to ever wear a Rangers jersey.
In terms of his longevity, it’s worth noting that Panarin didn’t enter the NHL until he was 24, signing with the Chicago Blackhawks in 2015. This means he may not have the same wear and tear as many other players his age. However, the question remains: will he still be the same elite player as he enters his mid-30s, especially after this upcoming season?
The Rangers’ Crossroads
Ultimately, the Rangers find themselves at a critical decision point. Do they lock up a franchise cornerstone who has remained elite, even if his age raises concerns about his long-term production? Or do they capitalize on this rare financial window to potentially reshape the roster and position themselves for future success?
This decision won’t be easy, but how Chris Drury handles it could define the next era of New York Rangers hockey.
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