Let’s rewind the clock to July 18, 2016 - a day that, in hindsight, helped shape the modern New York Rangers. That’s when the Blueshirts pulled off a deal that sent Derick Brassard and a seventh-round pick to the Ottawa Senators in exchange for a young, relatively unproven 22-year-old named Mika Zibanejad and a second-rounder.
At the time, it raised some eyebrows. Brassard was a fan favorite and a consistent contributor, and the Rangers were flipping him for a player who hadn’t yet broken out. But fast forward to now, and that trade stands as one of the franchise’s best moves in the last 20 years - right up there with landing Adam Fox for a pair of picks or flipping Scott Gomez for Ryan McDonagh.
Zibanejad didn’t just find his game in New York - he elevated it. He evolved from a promising young center into a dynamic, top-line force.
And while we’ll never know what kind of numbers he could’ve put up if the 2019-20 season hadn’t been cut short by COVID, the 75 points (41 goals) he posted in just 56 games that year were nothing short of elite. That version of Mika was electric.
But for all the highs, there’s been a complex second act to his Rangers story - and it starts with the contract.
On October 10, 2021, GM Chris Drury locked Zibanejad into an eight-year deal worth $8.5 million annually, complete with a full no-movement clause. It was a bold move at a critical time.
Drury was coming off a rocky offseason - one that included trading Pavel Buchnevich for Sammy Blais, acquiring and extending Barclay Goodrow, and hiring Gerard Gallant. The Zibanejad extension was a stabilizing play, and on paper, it made sense.
Mika had just wrapped up another solid campaign, tallying 50 points (24 goals) in 56 games. A lot of that production came on the power play, which raised some concerns, but the Rangers were short on center depth, and the market had dried up.
Jack Eichel was already headed to Vegas. Aleksander Barkov had just signed an extension to stay in Florida.
The Rangers needed to keep their guy.
Everyone understood the risk. An eight-year deal that would carry Zibanejad into his mid-to-late 30s was always going to be a gamble. But few expected the decline to come this fast.
In the two seasons that followed, Zibanejad remained productive - at least on the surface. He was putting up point-per-game numbers or close to it.
But dig a little deeper, and the cracks started to show. Much of his impact was coming with the man advantage.
At even strength, the influence just wasn’t there. He wasn’t driving play the way a true top-line center should.
And while he’d often come alive late in the season - what some have dubbed “Mika March” - the inconsistency earlier in the year was becoming harder to ignore.
With the salary cap stagnating due to COVID-era restrictions and the Rangers needing to inject more youth and speed into the lineup, Zibanejad’s contract started to feel like a weight. Instead of being celebrated as one of the best acquisitions in recent franchise history, he was now being talked about as a potential cap casualty.
Then came the J.T. Miller trade.
When the Rangers brought Miller back from Vancouver, it sparked a debate: can this team afford to carry three centers over the age of 30 with big contracts? The consensus was no - but the disagreement came in deciding who should go.
Some pointed to Zibanejad. With Miller and Vincent Trocheck also in the fold, the Rangers were suddenly flush with veteran centers, and Mika’s no-movement clause made things even more complicated.
He’s expressed his desire to stay in New York, and he earned that clause. But hockey’s a business, and tough decisions are part of the job.
Drury has already shown he’s willing to make them - just ask Jacob Trouba or Barclay Goodrow.
Others argued Trocheck should be the odd man out. But as the season has unfolded, Zibanejad’s game has taken a noticeable turn - and in the right direction.
Since Miller’s arrival, Mika has looked reinvigorated. He’s playing faster, harder, and with more bite.
He’s back to being the kind of player who can tilt the ice in all situations. It’s almost like he’s feeding off the energy around him.
That’s the thing with Zibanejad. He’s always been a bit of a chameleon.
Put him with physical, high-tempo linemates, and he’ll match that style. Surround him with finesse players, and he’ll adapt to that, too.
He’s not the kind of player who imposes his will on a game - he reflects the tone set around him. And right now, the tone is working.
But that resurgence also raises a tough question: is now the time to move him?
Zibanejad’s value is up. He’s showing he can still be a top-six center, contribute in all situations, and provide leadership. At $8.5 million per year for four more seasons, that’s a contract a lot of teams would consider - especially with the cap projected to rise in the coming years.
So the Rangers find themselves at a crossroads. Do they ride this out and hope Zibanejad can maintain this level of play into his mid-30s? Or do they sell high and use the flexibility to retool around a younger core?
It’s a tough call. But one thing’s clear: Mika Zibanejad’s time in New York has been a rollercoaster - from underrated trade acquisition to franchise centerpiece to potential trade chip. And whatever happens next could shape the Rangers’ future just as much as that 2016 deal did.