New York Rangers Trade Deadline Preview: Retooling on the Fly as Panarin Era Nears Its End
With the Olympic break looming and the NHL trade deadline just a month away, the New York Rangers find themselves at a familiar crossroads - only this time, it feels a little more urgent. After a rocky, injury-riddled season that’s seen them tumble to 30th in the league standings, the Rangers have made it clear: they’re pivoting. Again.
General Manager Chris Drury’s mid-January letter to fans signaled the shift. The word of choice?
“Retool.” Not rebuild - but it’s hard to ignore the similarities to the team’s last major reset seven years ago.
And with cornerstone winger Artemi Panarin now sitting out games for “roster-related reasons,” it’s clear the front office is serious about turning the page.
Let’s break down where the Rangers stand, what they’re working with, and what might come next as the deadline approaches.
Current Snapshot
- Record: 22-28-6
- Place: 8th in the Metropolitan Division
- Playoff Odds: 0%
- Deadline Cap Space: $4.77 million
- Contracts Used: 47 of 50
- Retention Slots: 3 available
Panarin Watch: The Big Domino
The headline move is obvious - Artemi Panarin is on the way out. The 32-year-old winger, still producing at an elite level, has been scratched for multiple games as trade talks heat up. A third of the league has reportedly checked in, with the Panthers, Hurricanes, Kings, Sharks, and Capitals all showing varying degrees of interest.
The challenge? Panarin’s $11.6 million cap hit.
But the Rangers hold all three of their salary retention slots, giving them flexibility to sweeten the pot for a contender. If they can pair a retention deal with a sign-and-trade extension, the return could be massive - think high-end prospects, picks, or NHL-ready youth.
San Jose has already made a move by adding Kiefer Sherwood, and they’re signaling they’re ready to accelerate their timeline. Florida, where Panarin has ties to Sergei Bobrovsky, would be a dream reunion, but the cap gymnastics required are daunting. Carolina, meanwhile, has the assets and the patience - and may see Panarin as the missing piece after swinging and missing on Mikko Rantanen.
Other Trade Chips: Who Else Could Be on the Move?
Beyond Panarin, the Rangers have a handful of veterans who could draw interest - and potentially help reshape the roster.
Vincent Trocheck
Of the team’s trio of 32-year-old centers - Mika Zibanejad, J.T.
Miller, and Trocheck - only Trocheck seems realistically movable. His $5.63 million cap hit is manageable, and with 36 points in 42 games, he’s producing.
Teams like Carolina, Colorado, Detroit, and Minnesota (if they can get creative with the cap) could all use a two-way center with playoff experience.
Jonathan Quick
At 40, Quick is on an expiring deal worth $1.55 million.
With Igor Shesterkin sidelined, Quick’s been holding down the fort - and may prefer to stay put rather than chase a Cup as a backup elsewhere. But if he’s open to a move, there could be interest from contenders looking for a steady veteran presence in the crease.
Brennan Othmann
The 23-year-old former first-rounder has been on the block since October.
He’s not a traditional deadline piece, but he’s a classic “change-of-scenery” candidate - a young player who might benefit from a fresh start. Look for a potential swap involving another stalled prospect.
Sam Carrick & Jonny Brodzinski
Both are low-cost depth forwards who’ve shown value in the faceoff circle.
Carrick is signed through next year at $1 million, while Brodzinski is a pending UFA. Either could net a mid-to-late round pick from a team looking to shore up its bottom six.
Urho Vaakanainen
A 6’2” left-shot defenseman with penalty-killing chops, Vaakanainen is signed through next year at $1.55 million. He’s not flashy, but he could be a useful depth add for a playoff-bound team.
Conor Sheary
Sheary’s $775k cap hit is easy to absorb, but with just one goal in 37 games and currently on LTIR, he’s unlikely to bring back much. Still, his playoff experience and underlying metrics might intrigue a team willing to take a low-risk flyer.
The Cap Headaches: Long-Term Contracts That Don’t Fit the Plan
As the Rangers retool, they’re also dealing with some contracts that don’t quite fit the new direction.
- Vladislav Gavrikov was signed last summer to a $7 million deal through 2029-30. At 30 years old, he doesn’t align with a youth-focused reset.
- Will Borgen, 29, is in a similar spot, carrying a $4.1 million cap hit through the same year.
- **Mika Zibanejad and J.T.
Miller** both have significant term and cap commitments, making them tough to move - even if the team were willing.
Then there’s Alexis Lafrenière, whose development remains a hot-button issue. The former No. 1 pick has shown flashes, but consistency and fit remain questions.
What the Rangers Need in Return
GM Chris Drury has made it clear: this isn’t a tear-it-down rebuild. The Rangers want to stay competitive - or at least relevant - while retooling around their core and top prospects. That means the focus at the deadline will be on acquiring NHL-ready youth, players who can step into the lineup next season and grow with the team.
They’ve already added a second first-round pick in the upcoming draft via the K’Andre Miller deal - a move that underscores the delicate balance they’re trying to strike. Miller was the kind of young, puck-moving defenseman they need more of, not less. But in the short term, the pick gives them options.
The blue line, in particular, needs a boost. The prospect pool is top-heavy, and a few more pieces on defense would go a long way toward stabilizing the future.
Goaltending Depth: A Quiet Need
While not a glaring issue, the Rangers could use some insurance behind Shesterkin. Quick is nearing the end of the line, and 23-year-old prospect Dylan Garand has yet to make his NHL debut. If the right opportunity presents itself, don’t be surprised if New York adds a young goalie to the mix, either via trade or in the offseason.
Final Thoughts
The Rangers aren’t blowing it up - but they’re not pretending everything’s fine either. With Panarin likely on the move and several veterans potentially following, this deadline is shaping up to be a pivotal moment in the franchise’s latest transition.
The goal is clear: retool without bottoming out, restock the pipeline, and build around a core that still includes names like Zibanejad, Miller, and (for now) Lafrenière. It’s a tightrope walk - but one that could set the tone for the next chapter at Madison Square Garden.