Could Artemi Panarin Be the Missing Piece for the Oilers’ Cup Push?
The New York Rangers have a history of welcoming former Edmonton Oilers legends in the twilight of their careers-names like Wayne Gretzky, Mark Messier, Jari Kurri, and Glenn Anderson all come to mind. Now, with the Rangers entering their second rebuild in less than a decade, the script could flip. Edmonton might have a chance to bring one of New York’s biggest stars to Alberta.
Artemi Panarin, the 34-year-old winger and pending unrestricted free agent, is in the final year of his seven-year, $11.642 million AAV deal. With the Rangers potentially looking to retool and gather assets, Panarin’s name has started to surface in trade rumors. And if Edmonton is serious about making another deep postseason run, this might be the moment to go all-in.
Why Panarin Fits in Edmonton
Let’s be clear: Panarin isn’t a depth piece. He’s a game-changer.
But that’s exactly why he makes sense for the Oilers. Edmonton’s biggest need heading into the 2026 trade deadline is depth scoring.
Adding Panarin wouldn’t just address that-it would elevate the entire forward group. By slotting him into the top six, the Oilers could push other skilled players further down the lineup, creating a more balanced and dangerous attack.
Panarin’s offensive resume speaks for itself. Since the 2017-18 season, he’s been producing at or above a point-per-game pace.
He’s racked up 921 points in 799 career games, with 318 goals and 603 assists. Despite his elite production, he hasn’t had many chances to shine in the postseason-just 73 playoff games under his belt, and none last year.
That’s a stat that could change in a hurry if he joins an Oilers squad that’s been to back-to-back Stanley Cup Finals.
There’s also a layer of familiarity here. Oilers GM Stan Bowman was the one who originally brought Panarin into the NHL back in 2015 when he signed him as a free agent with the Chicago Blackhawks.
They spent two seasons together in Chicago before Bowman traded him to Columbus. That history could help grease the wheels for a reunion.
The Price Tag: Assets and Cap Space
Of course, adding a player like Panarin doesn’t come cheap-either in assets or in cap flexibility.
Let’s start with the trade package. The Oilers would likely need to part with one of their top young prospects-Matt Savoie or Isaac Howard-to even get the conversation started.
Both are considered high-upside players with top-six potential. Edmonton also holds all of their first-round picks beyond this year and second-rounders in every draft except 2029, giving them the draft capital to sweeten the deal.
Last year’s blockbuster that sent Mikko Rantanen to Carolina offers a useful comparison. The Hurricanes gave up Martin Necas, Jack Drury, a second- and fourth-round pick, and even tossed in a third-rounder to get Chicago to retain half of Rantanen’s salary while also acquiring Taylor Hall. If Edmonton is willing to move one of Savoie or Howard, plus a first-rounder and possibly more, they could find themselves in a similar position to strike.
But here’s the real challenge: the salary cap.
Panarin’s $11.642 million cap hit is a mountain to climb. Even with 50% retention, the Oilers would still need to clear roughly $8.3 million in cap space to make it work. That’s no small feat, especially considering Edmonton is already $2.5 million over the cap ceiling due to Adam Henrique being on LTIR.
Cap Gymnastics Ahead
To make room, Bowman and his front office would need to get creative-and aggressive. That could mean moving out contracts like Andrew Mangiapane, Henrique (if he returns), Mattias Janmark, and Jack Roslovic. Edmonton might have to run a lean 20-man roster-18 skaters and two goalies-to stay compliant.
It’s a tightrope walk, no doubt. But the reward could be massive.
We’ve seen bold, aggressive moves pay off in recent years. The Vegas Golden Knights and Florida Panthers both made splashy acquisitions en route to Stanley Cup titles.
The Dallas Stars took a big swing on Rantanen and rode that momentum to the Western Conference Final. The blueprint is there for teams willing to take the risk.
The Clock Is Ticking
Panarin checks every box for what the Oilers need-not just as a boost for this year’s playoff push, but as a veteran presence who can help tilt the ice in high-leverage moments. He’s dynamic on the power play, lethal in transition, and experienced enough to handle the pressure of a long postseason run.
The question isn’t whether Panarin fits. He does. The question is whether Edmonton can thread the financial needle and pay the price in assets to make it happen.
With seven weeks until the trade deadline, the Oilers have time-but not much. If they believe this is their window, this is the kind of move that can push a contender over the top.