Latest On Artemi Panarin, Rangers Retool
Mirroring a similar action they took almost eight years ago, the New York Rangers released a public statement — a letter — to fans and the media announcing the club would chart a new direction for its competitive future, embracing a “retool” of its roster as the best path back to legitimate Stanley Cup contention.
While no transactions have yet been made to kick off this “retool,” (outside of a brief recall of defenseman Connor Mackey) it’s likely that we’ll see several made as we get closer to the NHL’s trade deadline on March 6.
In the aftermath of the Rangers’ letter, two players have emerged as the most likely candidates to be traded by the team before the deadline: pending UFAs Artemi Panarin and Carson Soucy.
Soucy’s situation is more straightforward. He’s an established defensive defenseman with over 400 games of NHL experience. The Rangers should have no issue fielding offers for Soucy, even if they have to navigate a $3.25MM AAV contract that contains a 12-team no-trade list. The Athletic’s Peter Baugh wrote Friday that the Rangers “should be able to fetch at least a mid-round pick” in any Soucy deal.
Panarin’s situation is significantly more complicated. First and foremost, he has a full no-move clause, meaning he’ll need to sign off on any deal before he can be traded. 
Panarin was asked about the Rangers’ new direction after the team’s victory over the Philadelphia Flyers yesterday, and he said “I’m still confused, but the GM decided to go in a different direction. I’m OK with that.” Panarin was asked more specifically about his no-move clause, but he declined to address that specific element of the situation.
The Rangers have made it clear to Panarin, per multiple reports, that he will not be offered a contract extension with the club. So, as long as he is willing to waive his no-move clause to go somewhere, he’s a near-certainty to be moved at some point before the deadline.
Parsing together where he might actually be dealt is the more difficult part of the equation, largely because it’s so dependent on Panarin’s preferences. For example, he’d be within his rights to only accept a trade to a single destination, if he finds he has his heart set on playing for one specific team. There is some precedent for such a scenario, such as when Taylor Hall used his contractual rights in 2021 to steer the Buffalo Sabres into trading him to the Boston Bruins.
There’s been no indication, at this point, that Panarin is going to take up that approach, and it could be equally likely that he provides the Rangers with a curated list of teams he’d accept being dealt to. There’s even a possibility — however remote — that Panarin declines to waive his no-move clause at all.
What the Rangers might receive in return appears, in many ways, dependent on Panarin’s decisions in this process. If he allows for a wide range of potential destinations, the Rangers could create sufficient leverage in trade talks to generate a significant return. If Panarin only accepts a deal to one team, New York would naturally have far less leverage in trade talks, and the return could subsequently be lighter than anticipated.
Looking back to the Hall example, the Sabres’ return for their star winger, a recent Hart Trophy winner, was widely considered “underwhelming” at the time. In exchange for Hall, the Sabres were only able to net a second-round pick and Anders Bjork, in large part due to being forced into exclusive negotiations with the Bruins.
While there’s been no indication that Panarin has a specific destination in mind the way Hall did, the precedent is worth looking back at, as it illustrates just how much control Panarin has over the process.
New York recently communicated to Panarin, their star forward of the 2020’s, that he would not be offered a contract extension. As a result, he may have a limited appetite to assist the Rangers and provide them with a wide range of teams he’d accept a trade to.
Beyond Panarin, the Rangers do have a few other trade candidates to consider, though the key ones are not pending UFAs like Panarin and Soucy.
The Athletic’s Vince Z. Mercogliano wrote yesterday that center Vincent Trocheck is “widely considered” the Rangers’ most valuable trade asset, and the 32-year-old could be the top pivot available in an extremely limited in-season trade market at the position. He could be of immense interest to center-needy contending teams such as the Minnesota Wild.
In addition to Trocheck, Mercogliano also named defenseman Braden Schneider, who is a pending RFA, as a key trade candidate. Since New York has right-shot blueliners Adam Fox and Will Borgen each signed to long-term deals, they could deal from a position of strength with Schneider. Trading the 2020 first-rounder would give the Rangers’ retool a significant boost, as he’s likely to command a strong return as a coveted young, sizeable right-shot defenseman.
But while the Rangers could conceivably wait until the offseason to deal Trocheck or Schneider, they don’t have the privilege of that kind of timeline with Panarin or Soucy. As a result, the Rangers’ retool could begin in earnest sooner rather than later.
Photos courtesy of Wendell Cruz-Imagn Images
Rangers Reassign Connor Mackey
1/17: The Rangers reassigned Mackey to the minor leagues after he served as a healthy scratch in Saturday’s win over the Philadelphia Flyers.
1/16: According to a team announcement, the New York Rangers have recalled defenseman Connor Mackey from the AHL’s Hartford Wolf Pack. The reasoning behind Mackey’s recall is that defenseman Carson Soucy will miss tomorrow’s game against the Philadelphia Flyers due to personal reasons.
Today’s transaction makes the fourth recall of the year for Mackey. The 29-year-old defenseman is in his third year with the organization and in the final year of a two-year, $1.55MM contract.
Despite being recalled on multiple occasions, Mackey has yet to play for the Rangers this season. Up to this point, since the beginning of the 2023-24 campaign, Mackey has gone scoreless in three games with New York, averaging 16:14 of ice time per game. The Rangers have six other healthy defensemen on the roster, so Mackey isn’t expected to add to those totals.
He has spent most of his time with the organization playing with AHL Hartford. Providing quality hard-nosed two-way play, Mackey has scored 10 goals and 42 points in 142 games with the Wolf Pack, accruing 238 PIMs in the process.
Meanwhile, Soucy will miss his fifth game this season. The 31-year-old blue liner has appeared in 44 games with New York this season, scoring three goals and eight points while averaging 17:18 of ice time. He has provided quality play on the defensive side of the puck, averaging a 93.5% on-ice SV% at even strength.
There is an indication that Soucy is in his final few weeks with the Rangers. Earlier today, General Manager Chris Drury penned a letter to fans, indicating that the team would punt on the 2025-26 campaign to retool for the future success of the franchise. Being a pending unrestricted free agent, Soucy would be an ideal trade candidate leading up to the deadline, should New York find any suitors for his services.
Bulk Of Rangers Core Wants To Stay Despite Retool
Today’s letter from the Rangers and subsequent reporting indicated that some veterans will be on the move, winger Artemi Panarin among them. But at first glance, it doesn’t appear as if some of their other notable veterans could be in play on the trade front. Vince Z. Mercogliano of The Athletic reports (Twitter link) that five members of their veteran core – goalie Igor Shesterkin, defensemen Adam Fox and Vladislav Gavrikov, and centers J.T. Miller and Mika Zibanejad – all spoke with management today and indicated a desire to remain with the team. All five players are signed through at least the 2028-29 and have no-move clauses in their respective contracts so it’s unlikely that New York will be making multiple moves of significance before the March 6th trade deadline.
New York Rangers Announce Retool
Similar to Jeff Gorton nearly seven years ago, current General Manager Chris Drury wrote a letter to New York Rangers fans, stating that the team would undergo a retool this season.
In the letter, Drury said, “This will not be a rebuild. This will be a retool built around our core players and prospects.” Drury went on to acknowledge that the fans should expect some trades or departures via free agency, saying, “That may mean saying goodbye to players that have brought us and our fans great moments over the years.”
The news was largely expected. Despite wanting to compete for a playoff spot this season, the Rangers are in last place in the Eastern Conference by a three-point margin and are tied for the most games played. Their -21 goal differential is also the worst in the Conference.
After losing defenseman Adam Fox and netminder Igor Shesterkin to injury in early January, there was little hope that New York would be able to climb out of the hole. Still, instead of re-shaping the entire roster, Drury specified a retool, which indicates that the team may only move out expiring assets and reassess next summer.
Regardless, we know of at least one player who won’t finish the 2025-26 season with the Rangers. Shortly after the announcement from New York, Sportsnet’s Elliotte Friedman reported that Drury met with Artemi Panarin, telling him that the team would not be extending him an extension offer, and they would like to move him to a team where he could win the Stanley Cup or sign long-term.
Earlier this week, we assessed some of the hypothetical landing spots for Panarin that were provided by Friedman, namely the Colorado Avalanche, Florida Panthers, Minnesota Wild, and Washington Capitals. Determining Panarin’s trade value is challenging due to the absence of recent comparables for a rental of his significance.
Furthermore, there’s no questioning that Panarin’s market value dipped from today’s news. Publicly, the Rangers remained interested in extending Panarin beyond the 2025-26 campaign. However, considering his full no-movement clause, New York will allow Panarin to pick his next destination, which will likely diminish their potential return.
Meanwhile, the Rangers don’t have many additional expiring assets that will be of much value on the trade market. Joining Panarin as pending unrestricted free agents are Jonny Brodzinski, Conor Sheary, and Carson Soucy. Technically, Jonathan Quick could also be a trade candidate, but the veteran netminder has been pretty rigid in his ‘Rangers or retirement’ attitude.
Assuming Drury waits until the offseason to consider trading the trickier contracts of Mika Zibanejad, Alexis Lafreniere, Vincent Trocheck, etc, there are a few more veterans he may attempt to move this season.
Veterans like Taylor Raddysh, Sam Carrick, and Urho Vaakanainen are only signed through the 2026-27 season, potentially giving the Rangers a few more assets to move. At any rate, the Rangers now have the biggest fish leading up to the March 6th trade deadline.
Photo courtesy of Wendell Cruz-Imagn Images.
Assessing Potential Landing Spots For Artemi Panarin
On the heels of a 2-6-2 record over their last 10 games, speculation has begun building that the New York Rangers will eventually trade winger Artemi Panarin ahead of the trade deadline. In his recent episode of 32 Thoughts, Sportsnet’s Elliotte Friedman linked a few teams to the pending unrestricted free agent.
Though much of it was speculation, Friedman listed the Colorado Avalanche, Florida Panthers, Minnesota Wild, and Washington Capitals as potential landing spots for the four-time All-Star. For each of the four teams and additional options, a significant effort would be required to acquire Panarin.
For starters, Panarin has the seventh-highest cap hit in the league with an $11.64MM mark. However, he’s only earning an $8MM salary this season, meaning he’s somewhat more palatable in terms of actual dollars. Still, few teams would be able to absorb that cap hit outright.
Additionally, Panarin has a full no-movement clause in his contract. That means that even if the Rangers find an acceptable offer, one that balances the cap hit of all parties involved, Panarin would still need to sign off on the deal. If he decides he’d like to remain in New York to finish the season and pursue other options next summer, the Rangers won’t have any options and could conceivably lose him for nothing.
Lastly, there are no recent comparables to Panarin’s situation, especially if the acquiring team doesn’t quickly pursue a contract extension. Last season, winger Mikko Rantanen was traded twice and eventually signed an extension with the Dallas Stars after failing to gain traction with the Carolina Hurricanes.
Still, for the sake of argument, let’s run with the idea that a team could theoretically clear all the hurdles needed to acquire Panarin. His value to a potential team couldn’t be clearer, as he’s scored 202 goals and 600 points in 476 games throughout the duration of his contract with the Rangers, already climbing to ninth all-time on the franchise leaderboards.
Friedman thoroughly explained his reasoning behind Colorado, sharing that the Avalanche offered Panarin a four-year, $52MM ($13MM AAV) contract back in 2019. Although the Avalanche were ready to give Panarin nearly 16% of their available dollars at the time, they had not yet signed Nathan MacKinnon and Cale Makar to their high-priced extensions. Much has changed for Colorado since then.
In Florida, the only way the Panthers would be able to acquire Panarin without moving heaven and earth would be if the team were certain that Aleksander Barkov would not return for the playoffs this season. In an odd twist, that’s almost an argument as to why the Panthers shouldn’t pursue Panarin as a rental, given their chances of competing for a third consecutive Stanley Cup title without their captain.
Lastly, the connection to Minnesota and Washington is clear. Either destination would allow Panarin to play with another high-level countryman in Kirill Kaprizov or Alex Ovechkin. It’s important to remember that although the Rangers may not be inclined to move Panarin to a Metropolitan Division rival, they recently traded K’Andre Miller to the Hurricanes last summer.
Regardless, as much fun as it is to speculate on where Panarin could end up, there’s no guarantee he’ll even leave New York. However, given the complex nature of manufacturing a Panarin trade, the Rangers will have to make a decision sooner rather than later.
Photo courtesy of Wendell Cruz-Imagn Images.
New York Rangers Reassign Anton Blidh, Recall Brennan Othmann
4:15 p.m.: The Rangers have indeed recalled Othmann to their NHL roster, according to a team announcement.
The move returns the Rangers’ 2021 first-round pick back to their NHL roster for the first time in 2026. Othmann was a healthy scratch for his final two games on the NHL roster in December, but could draw back into head coach Mike Sullivan’s lineup at some point in the near future.
It’s an extremely important season for the 23-year-old’s future in the Rangers organization. He’s a pending restricted free agent and has thus far failed to make an impact at the NHL level.
Considered a top prospect coming out of the OHL thanks to the coveted combination of offensive skill and sandpaper in his game, Othmann has had an up-and-down time in the pro ranks. He’s been a strong contributor at the AHL level.
He was an All-Star in 2023-24, his rookie season as a pro, and 83 points in 117 games. But in his 31 games at the NHL level, he’s been unable to make quite the same impact. He’s managed just two assists as an NHLer, and is still waiting on his first NHL goal.
This recall gives Othmann another chance to prove himself at the NHL level, and prove he has what it takes to remain in New York’s long-term plans moving forward.
The Athletic’s Chris Johnston included Othmann in the No. 34 slot of his trade board last week, writing that while the Rangers are “not in a position at which they feel they have to move” Othmann, they’d nonetheless consider offers for him.
2:25 p.m.: The New York Rangers announced today that veteran forward Anton Blidh has been reassigned to the club’s AHL affiliate, the Hartford Wolf Pack.
The move leaves the Rangers without a healthy extra forward on their roster, but Colin Stephenson of Newsday reported that Brennan Othmann could be recalled to the Rangers at some point in the near future.
Blidh was recalled at the start of the New Year as part of the Rangers’ response to several injuries up front, most notably one suffered by captain J.T. Miller. In his recall, which lasted a little over 10 days, Blidh was dressed twice and served as a healthy scratch for three contests, including yesterday’s deflating 10-2 loss to the Boston Bruins.
In his two NHL games, Blidh averaged 7:45 time on ice. He didn’t land on the scoresheet, but tallied four hits in each contest. The 30-year-old veteran hasn’t been at the top of the list of priority call-up options since arriving in the Rangers organization in 2023, but he’s nonetheless found a way to stick around and earn a small number of call-ups.
While this most recent call-up represents two of his three total games played as a Ranger, he’s been a healthy scratch on other occasions. His physicality and work rate, as well as over 80 games of NHL experience, make him someone who the Rangers trust to fill in as a fourth liner when injuries call for it. Last April, New York signed Blidh to a two-year contract extension, one that runs through 2026-27. The deal carries a two-way structure, league-minimum NHL salary, and $385K guarantee across both years.
Reassigned today, Blidh will return to Hartford where he’s struggled to score at the same rate he put up last season. Blidh managed 19 goals, 36 points in 71 games last year, but has just seven points in 28 games this season. The Wolf Pack have struggled, as a whole, to put pucks in the net, ranking near the bottom of the AHL in goals scored in 2025-26.
Rangers Assign Justin Dowling To AHL
With center Noah Laba expected to return to the lineup tonight, the Rangers have sent some forward depth back to the minors. The team announced (Twitter link) that center Justin Dowling has been assigned back to AHL Hartford. They now have one open roster spot.
The 35-year-old was brought up at the beginning of the month when Laba and others were injured and got into two games with New York during this stint. He was held off the scoresheet while recording one shot on goal in a total of just over 14 minutes of playing time.
It’s the third straight season in which Dowling has seen NHL action; he played in a career-best 52 with New Jersey last season. That was enough to land him a two-year deal with the Rangers this summer with 2025-26 seeing him earn a one-way salary before reverting to a two-way pact next season.
Dowling has spent the bulk of the campaign with the Wolf Pack where he has fared well offensively, notching five goals and 11 assists in 24 games. After being a limited role player with the Rangers, he’ll return to being a key top-six forward in Hartford with the hopes of playing his way into another recall in the coming months.
Noah Laba Likely To Return Tomorrow
- If everything goes according to plan, the New York Rangers will return third-line center Noah Laba to the lineup tomorrow afternoon. According to Peter Baugh of The Athletic, Laba was a full participant at practice today. The 22-year-old forward has been dealing with an upper-body injury since December 31st, and was given a week-to-week recovery timeline.
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Rangers Activate J.T. Miller From Injured Reserve
The Rangers have activated forward J.T. Miller from injured reserve ahead of tonight’s clash with the Sabres, Mollie Walker of the New York Post relays. They have an open roster spot, so there’s no need for a corresponding transaction.
Miller hasn’t played since Dec. 20 due to an upper-body injury, keeping him out of a seven-game stretch that included the Winter Classic. Outside of the resounding outdoor victory, the Blueshirts haven’t fared very well without their captain, going 2-3-2 to fall to a 20-18-6 record on the year that has them third-last in the Eastern Conference.
After missing the playoffs last season, the Rangers’ possession game has improved by several degrees under head coach Mike Sullivan, but has been plagued by a lack of finishing ability. Perhaps no player better encapsulates those struggles than Miller, who’s having his worst offensive showing in seven years. The Rangers gave up a first-round pick and young center Filip Chytil to net Miller from the Canucks last year and named him captain at the beginning of this season, but he’s responded with a conservative 10 goals and 22 points in 35 games.
The 32-year-old Miller is seventh on the team in scoring outright and fifth in points per game despite averaging nearly 21 minutes of ice time. He has provided value in other areas, leading the team with a 59.9 faceoff win percentage and ranking fourth with 74 hits, but his -11 rating is second-worst on the team behind William Cuylle.
For a team missing its starting goalie and top defenseman, as well as multiple depth forwards, they’ll take any help they can get, though. Miller will skate as the Rangers’ second-line left winger with Vincent Trocheck and Alexis Lafrenière in his return, according to Vince Z. Mercogliano of The Athletic.
New York Rangers Reportedly Pursued Kiefer Sherwood
Before losing two franchise pillars (defenseman Adam Fox and netminder Igor Shesterkin) to injury, the New York Rangers “had been aggressively trying to trade for reinforcements,” the Athletic’s Vince Z. Mercogliano reported yesterday.
Citing multiple league sources, Mercogliano reported that the Rangers “have been pushing hard” to acquire veteran winger Kiefer Sherwood from the Vancouver Canucks, but have found the Canucks’ reported asking price of at least a first-round pick to be “prohibitive.”
The Rangers aren’t alone in their interest in Sherwood. Not only is he one of the league’s more popular trade candidates, but earlier this week, we covered reports coming out of Vancouver that the Canucks made a renewed push to try to sign the pending UFA to a contract extension.
Per CHEK and The Athletic’s Rick Dhaliwal, the Canucks made a four or five-year offer to Sherwood with an AAV north of $4MM.
With Sherwood looking increasingly likely to be traded at some point before the March 6 trade deadline, Mercogliano’s report is one of the first coming from a rival team showing clear motivation to acquire Sherwood.
On paper, it’s easy to see why New York might be interested in the veteran winger.
While new Rangers head coach Mike Sullivan and his staff have done a great job patching up the Rangers’ defense, something that was a glaring issue last season, their renewed focus on strong team defense appears to have come at the cost of the club’s offensive attack.
The Rangers rank No. 22 in the NHL in goals scored this season, and have played more games than all but one team below them. They have scored just six more goals than the St. Louis Blues, who rank last in the NHL in goals scored.
The addition of Sherwood, whose 17 goals this season would lead the Rangers, not only would provide the Rangers with a much-needed scoring boost, but he’d also bring a level of physicality and aggression that could benefit the Rangers’ forward group.
But while New York would certainly improve its immediate competitive fortunes by acquiring Sherwood, it’s fair to question whether such a move is in the franchise’s long-term best interests. The team is hardly the only club interested in acquiring Sherwood, a fact that is likely to enhance the Canucks’ odds of receiving their desired first-round pick asking price. Even if the cost is ultimately more in the second-round range, that’s still a valuable draft asset.
Should the Rangers, who sit outside of the playoff picture looking in and are missing two key players to injury, spend that kind of asset for immediate scoring help, especially when that scoring help is a pending UFA?
While New York likely wants to maximize its chances to win while Fox and Shesterkin (and other veterans such as Mika Zibanejad and J.T. Miller) are in their prime, it might not be wise to spend such an expensive asset on Sherwood. For as many positive qualities as he has as a player, he’s not the kind of addition that will suddenly make a middling Rangers team into a true Stanley Cup contender.
New York could badly use an infusion of young talent with upside onto its roster. Their prospect pool was ranked No. 21 in the NHL in August by Elite Prospects, but some key names look increasingly unlikely to become true NHL difference-makers, such as No. 4 prospect Brennan Othmann.
The Rangers do hold two first-round picks and a second-rounder thanks to the offseason’s K’Andre Miller trade, but given where the Rangers are in their competitive cycle, one could argue the Rangers would be better off making those picks instead of trading them for a 30-year-old pending UFA.
New York doesn’t have the easiest road back to true Stanley Cup contention, and the debate regarding their interest in Sherwood is a prime example of why. For what it’s worth, it does appear that the injuries to Fox and Shesterkin may have altered New York’s outlook on this season. Mercogliano cited two additional league sources who “believe some degree of selling is an increasingly likely outcome for the Rangers” this season.
If that ends up being the case, the Rangers could go a long way towards replenishing their stable of draft picks and prospects, especially if they end up trading pending UFA Artemi Panarin, their leading scorer. Panarin carries a full no-move clause on his contract, so any effort to trade him would need to come with the player’s direct involvement and sign-off.
If the Rangers are concerned with trying to win a Stanley Cup during what remains of the prime years of Shesterkin, 30, it could be that taking a small step back in 2025-26 is the best way to take a more substantial leap forward for 2026-27 and beyond.
Photos courtesy of Timothy T. Ludwig-Imagn Images