The Rangers have “recently inquired” with the Canucks about the trade availability of star center J.T. Miller, a league source told Arthur Staple and Peter Baugh of The Athletic.

Those discussions have likely taken place in the last week or so amid general manager Chris Drury putting up an open-for-business sign on Monday, with Elliotte Friedman of Sportsnet reporting that he’d made both captain Jacob Trouba and three-time 30-goal scorer Chris Kreider available for trade. Four straight regulation losses and some concerning shot-attempt and scoring-chance numbers at 5-on-5 throughout the season have set Drury’s urgency dial to high as he tries to avoid last year’s Presidents’ Trophy winners slipping out of a playoff spot.

There’s still a fair bit of cushion for the Rangers, who have slipped to a wild-card spot but have games in hand on the three teams ahead of them in the Metropolitan Division. But they’re now on pace for 98 points after finishing with 114 a season ago and have a 29% chance of missing the playoffs, per The Athletic.

That could mean the Rangers are willing to leverage one of their aforementioned trade chips, or more likely struggling center Mika Zibanejad, to bring Miller back to where he started his NHL career. But as Staple and Baugh write, it’s “a long shot” to make a midseason move for such a rich contract – Miller is signed through the 2029-30 season at an $8MM cap hit. Moving Zibanejad, who’s signed for the same length at an $8.5MM cap hit, would likely require some salary retention amid his poor start and may be impossible regardless, thanks to his full no-movement clause.

There’s also the question of whether Miller, who also has an NMC in his contract with Vancouver, would entertain a move back to Manhattan. The 31-year-old does have six goals and 16 points in 17 games this season with a +1 rating but is currently out indefinitely while on a leave of absence for personal reasons.

Even though Miller is on pace for his lowest offensive output since the 2020-21 season, he would still be a significant upgrade over Zibanejad’s performance this year, which would likely require a larger package heading Vancouver’s way than a one-for-one swap. Zibanejad has been a relative non-factor with just four goals in 21 games, only three hits, and the worst possession numbers of his 14-year career by far with a 42.8 CF% and 40.9 xGF% at even strength.

While Drury’s initial inquiry likely won’t lead to a move, at least not imminently, it’s likely not the last time he’ll gauge Miller’s availability this season. As Baugh and Staple write, they also had interest in a reunion at the 2022 trade deadline when he was slated to become an unrestricted free agent the following summer, but he ended up sticking in Vancouver and inking his aforementioned extension.

Miller, selected 15th overall by the Rangers back in 2011, had 72 goals, 100 assists and 172 points in 341 games with the Blueshirts before he was traded to the Lightning at the 2018 deadline. After being flipped to Vancouver in the 2019 offseason, he’s had over a point per game in four of his five full seasons as a Canuck.