The Washington Capitals have made one thing clear as Artemi Panarin trade rumors swirl: Ryan Leonard isn’t going anywhere.
With the Olympic roster freeze looming, the Capitals have reportedly drawn a hard line in the sand when it comes to their 21-year-old winger. According to NHL insider Jimmy Murphy, Washington has made Leonard untouchable in any potential deal for the 34-year-old Panarin - a telling sign of how highly the organization values its young forward.
And honestly, it’s not hard to see why.
Leonard, the No. 8 overall pick in the 2023 NHL Draft out of Boston College, has quickly become one of the most promising pieces in Washington’s rebuild. After getting his first taste of NHL action last season - nine games, one goal - Leonard has taken a noticeable step forward this year.
Through 51 games, he’s posted 10 goals and 20 assists, while also throwing his weight around with 72 hits. That kind of production, combined with his physical edge and two-way potential, gives the Capitals a player they can build around for years to come.
From the Rangers’ perspective, Leonard makes perfect sense as a trade target. They’d be swapping out an aging star for a young, NHL-ready winger with a 13-year age advantage.
That’s the kind of move that can reshape a roster’s long-term outlook. But Washington isn’t in the business of handing over its future - not even for a player as proven as Panarin.
And while Panarin still brings high-end offensive skill to the table, the reality is he’s on the back end of his prime. Even with a possible contract extension in play, the Capitals aren't in a win-now window that justifies mortgaging a key piece of their future. Leonard’s ceiling is simply too high to gamble on a short-term boost.
The message from Washington is clear: they’re not just thinking about this season - they’re thinking about the next decade. Leonard, with his blend of skill, grit, and upside, is a cornerstone in that vision.
So while Panarin may still be on the move before the deadline, don’t expect Ryan Leonard to be part of the return. The Capitals are holding onto their rising star - and for good reason.