The NHL trade market just got a lot more interesting.
Artemi Panarin, one of the league’s most consistent offensive weapons over the past decade, may have played his final game for the New York Rangers. According to reports, the team is holding him out of the lineup for "roster management" reasons, a phrase that’s often code for: “We’re working on a trade.”
And the Washington Capitals are reportedly in the mix.
Panarin, 34, is a pending unrestricted free agent with a full no-movement clause, meaning he controls where he lands next. But this isn’t just about finding a new home for the stretch run.
Panarin is said to be seeking an extension as part of any trade, making this more than a rental situation. That narrows the field to teams with both the cap flexibility and the long-term vision to make it work.
Enter the Capitals. Washington is six points out of a playoff spot heading into Thursday, but they’ve got the financial wiggle room to take a big swing. With $14 million in deadline cap space and a projected $36.5 million available this summer, they’re one of the few teams that could not only absorb Panarin’s $11.6 million cap hit (potentially reduced if the Rangers retain salary) but also commit to him beyond this season.
It’s a bold move, but it makes sense. The Caps are in a transition phase - still trying to stay competitive while retooling on the fly.
Adding Panarin would inject elite playmaking and scoring into a lineup that could use a jolt. With 19 goals and 38 assists through 52 games this season, Panarin continues to produce at a high level.
Since entering the league in 2015-16, he’s racked up 927 points - fifth-most in the NHL in that span, behind only Connor McDavid, Leon Draisaitl, Nathan MacKinnon, and Nikita Kucherov. That’s the kind of company that speaks for itself.
Washington isn’t the only team linked to Panarin. His camp has reportedly reached out to the Anaheim Ducks, Los Angeles Kings, and San Jose Sharks.
There’s some history with Ducks head coach Joel Quenneville, who coached Panarin during his Chicago days, but Anaheim appears to be out of the running - they’re not looking to commit to an extension right now. The Kings and Sharks have spoken with the Rangers, but neither is believed to be a frontrunner.
The Carolina Hurricanes have also entered the conversation. They’ve reportedly discussed the idea of making a push for Panarin, and given their status as a perennial contender, it’s a move that could make a lot of sense if the fit - and the finances - line up.
But for now, all eyes are on Washington. The Capitals have the need, the cap space, and the motivation to make a splash. If they can work out the details - and if Panarin is on board - this could be one of the biggest moves of the deadline season.
Stay tuned. This one’s far from over.