Rangers Hit the Reset Button Again - This Time, There’s No Room for Half Measures
Back in 2018, the New York Rangers made headlines with a rare move - a public letter to fans announcing the start of a rebuild. It was honest, transparent, and refreshing.
But that plan was quickly shelved when a superstar named Artemi Panarin essentially fell into their lap a year later. Suddenly, the rebuild became a retool, and the Rangers went all-in on contending.
The result? Two trips to the Eastern Conference Final, but no Stanley Cup, and now, as we approach the 2026 NHL Trade Deadline, the team finds itself in a familiar position - resetting once again.
And just like in 2018, the front office has released another letter to fans, this time signaling the start of a new retool. Only now, the stakes are higher, the timeline tighter, and the margin for error razor-thin.
Selling Season in New York
The move that kicked off this new era came just before the Olympic break: Artemi Panarin, the face of the franchise for the past several seasons, was traded to the Los Angeles Kings. In many ways, it's poetic. Panarin’s arrival marked the end of the last rebuild - his departure now marks the beginning of another.
With Panarin gone, and both Igor Shesterkin and Adam Fox on the shelf with injuries, it’s clear where the Rangers stand heading into the deadline: they’re sellers. And not just casual sellers - this is a full-on liquidation of assets with an eye toward the future.
The core is aging, the prospect pipeline is thin, and the team’s current trajectory doesn’t scream “contender.” Chris Drury and the front office know it.
Now it’s about how aggressive they’re willing to be.
Cap Space and Flexibility
Thanks to Fox’s stint on long-term injured reserve, the Rangers currently have $6.4 million in cap space. That number could grow as more contracts are moved at the deadline, and Panarin’s retained salary will be off the books this summer.
That opens the door for a potential splash in free agency - but let’s be real: big-name hunting hasn’t always worked out for this franchise. Just ask anyone who remembers how the last retool got paused in 2019.
Drury has a chance to reshape the roster and the cap sheet at the same time. But that only matters if the decisions made over the next few months are smart, forward-thinking, and - most importantly - committed to the long game.
Trade Chips on the Table
Let’s start with the most likely name to move: Vincent Trocheck. The veteran center checks a lot of boxes for playoff-bound teams.
He’s a reliable two-way player, can put up top-six production, kill penalties, win faceoffs, and play solid defense at even strength. He’s also under contract for three more seasons with a manageable $5.625 million cap hit.
That’s the kind of asset that draws serious interest at the deadline.
Braden Schneider is another name making the rounds. Trading a 24-year-old right-shot defenseman during a retool might seem counterintuitive - those guys don’t grow on trees.
But the Rangers have to be honest about his ceiling. If they don’t view him as a core piece moving forward, and if he’s due for a raise this offseason, now might be the best time to cash in.
A young, right-handed blueliner with NHL experience? That’s a hot commodity.
Then there’s Alexis Lafrenière. The former first overall pick has shown flashes - moments where you see the skill, the vision, the potential.
But the inconsistency has been tough to ignore. Drury won’t move him just to move him, but if the right offer comes along, he’ll listen.
At 24, Lafrenière still has time to become the player many projected him to be, but the Rangers can’t afford to wait forever.
What’s Coming Back?
The return for Panarin included promising forward prospect Liam Greentree - a solid start, but not exactly the headline-grabber fans may have expected. Still, it’s a step in the right direction.
The Rangers now hold two first-round picks in this year’s draft and six selections in the first three rounds. That gives Drury some serious ammunition, whether he wants to load up on prospects or package picks to acquire a high-end young player.
Draft capital is great - but it’s only part of the equation. The Rangers need to restock the cupboard with players who can make an impact in the next few years, not just five years down the line. That means targeting top-tier prospects, not just quantity.
The Bottom Line
This isn’t the time for half-measures. The Rangers tried to split the difference last time - rebuild on the fly, add stars, and hope it all clicked.
It nearly worked. But nearly doesn’t lift the Cup.
Now, with Panarin gone, key players injured, and the team slipping out of contention, it’s time for a real commitment to the reset. That means tough decisions.
That means moving on from players who’ve been part of the core. And that means staying disciplined, even when the temptation to chase a quick fix comes knocking.
The Rangers have a chance to get this right. But only if they go all in - not on contending today, but on building something sustainable for tomorrow.