When the NHL trade deadline approaches, there are a few constants: speculation ramps up, contenders circle the market, and the Vegas Golden Knights-true to their name-go all in. Under GM Kelly McCrimmon, Vegas has made a habit of swinging big, and more often than not, those gambles have paid off.
Jack Eichel, Mitch Marner, Noah Hanifin, Tomas Hertl-these aren’t just solid additions, they’re cornerstone players, each brought in through aggressive, calculated moves. That bold approach helped deliver a Stanley Cup to Vegas and has kept the Golden Knights in the contender conversation ever since. And now, with the deadline looming again, McCrimmon may be eyeing another marquee name: Artemi Panarin.
Panarin on the Market?
The New York Rangers are at a crossroads. GM Chris Drury made that clear in a recent statement, signaling a shift in direction as the team sits near the bottom of the Eastern Conference standings.
Drury emphasized that this isn’t a rebuild, but a “retool”-a move focused on acquiring younger assets, cap flexibility, and players with speed, skill, and grit. Translation: veterans with big contracts might be on the way out.
That includes Panarin. Reports suggest the Rangers have informed the star winger they won’t be renewing his contract at season’s end and will work with him to find a trade partner.
That’s no small task. Panarin has a no-movement clause, meaning he’ll have a say in where he goes.
Plus, with his $11.65 million cap hit, any deal would likely require New York to retain half of his salary to make it work under the cap.
Why Vegas Makes Sense
If there’s a big name on the market, you can bet Vegas will be in the mix. And in Panarin’s case, they’re not just in the mix-they’re leading the pack. Oddsmakers have the Golden Knights as the favorites to land the dynamic winger, ahead of teams like the Capitals and Canadiens.
What makes this more than just smoke is the situation surrounding William Karlsson. Reports suggest the veteran center could miss the rest of the regular season, which would place his $5.9 million salary on long-term injured reserve (LTIR). Conveniently, that’s just enough room to fit Panarin’s cap hit-if the Rangers retain the maximum 50 percent.
And if Vegas is serious about keeping Marner at center, that opens up a spot on the wing for Panarin. Imagine a top six featuring Panarin, Eichel, Marner, and Hertl. That’s not just dangerous-it’s downright unfair.
The Roadblocks
Of course, making a deal like this happen isn’t as simple as moving pieces on a whiteboard. Years of aggressive trading have left the Golden Knights light on future assets. If the Rangers spark a bidding war, Vegas might not have the ammo to win it.
That could mean McCrimmon would have to include a roster player in the deal. Pavel Dorofeyev’s name has come up as a potential target for New York, and while he’s not a household name yet, he’s a young, skilled forward with upside. Giving him up for a potential rental might be more than McCrimmon is willing to stomach.
And if the Knights are thinking about keeping Panarin beyond this season, things get even trickier. Extending him would require significant cap maneuvering.
One option could be moving a big contract like Alex Pietrangelo’s $8.8 million deal, which is currently on LTIR. But that’s a major shakeup, even for a team that’s never shied away from bold moves.
Other Options on the Table
Even if Panarin ends up elsewhere, there’s still value for Vegas in talking with the Rangers. Players like Vincent Trocheck or Carson Soucy could help round out the roster, and Alexis Lafreniere-still young and full of potential-might be available depending on how deep the Rangers go with their retooling.
But one name to really watch? Braden Schneider.
The 24-year-old defenseman has ties to McCrimmon from their days in Brandon with the Wheat Kings, and he checks a lot of boxes: right-handed shot, physical presence, and a cap-friendly deal. Schneider is trending toward his fourth straight season with 100+ hits and blocks-exactly the kind of reliable, hard-nosed blue-liner Vegas covets.
The Bottom Line
Panarin is the headline, no doubt. He’s an elite playmaker, a proven scorer, and a player who could tilt the balance of power in the West. But even if Vegas doesn’t land him, there are still ways for McCrimmon to come out of this deadline with a stronger team.
The Golden Knights have never been afraid to make bold moves. That’s how they’ve built one of the NHL’s most competitive rosters in such a short time. Whether it’s Panarin, Schneider, or another under-the-radar piece, you can bet they’ll be in the thick of the action-because in Vegas, playing it safe has never been part of the plan.