Trade Deadline Primer: New York Rangers
With the Olympic break approaching, the trade deadline is about a month away. Where does each team stand, and what moves should they be looking to make? We continue our look around the league with teams that have clear plans at the extremes of the standings, next with the Rangers.
After missing the playoffs last season, it was becoming apparent that New York’s rebuild was not materializing as envisioned, but few would have expected “The Letter: Part Two”. Eager to turn the corner under new Head Coach Mike Sullivan, the Rangers had a strange start to the season, losing their first seven at home, but winning enough on the road to stay afloat at first. Then came the injuries, as the group was battered, numerous key players going down, dropping them to 30th in the league. On January 16, GM Chris Drury shared a letter to fans detailing the team’s plans to “retool”, soon dealing veteran defenseman Carson Soucy to the rival Islanders. Now, franchise cornerstone Artemi Panarin is headed out the door at any moment, as New York finds themselves back where they started seven years ago.
Record
22-28-6, 8th in the Metropolitan (0% playoff probability)
Deadline Status
Seller
Deadline Cap Space
$4.77MM on deadline day, 0/3 retention slots used, 47/50 contracts used, per PuckPedia.
Upcoming Draft Picks
2026: NYR 1st, CAR 1st, CAR 2nd, NYR 3rd, NYI 3rd, NYR 5th, NYR 6th, VAN 7th
2027: NYR 1st, NYR 3rd, NYR 5th, NYR 6th, NYR 7th
Trade Chips
It’s far from a secret who Drury has set in his first order of business. 12 days after waiving a white flag on 2025-26, the major headline dropped that Panarin would be sat for roster-related reasons. Since then, a third of the league has been reported as having interest, most notably the Panthers, Hurricanes, Kings, Sharks, and Capitals. Wednesday’s 3 PM EST Olympic roster freeze stands as a roadblock, but the superstar has unfavorably had to sit for the last three games, and a deal seems imminent, even if shortly after the Olympics.
Suitors are working through the need to extend Panarin, but New York holds all three retention spaces. They would be wise to send their star with retained salary, and an extension set up, to maximize a return with their biggest chip.
Already aggressive enough to add Kiefer Sherwood, San Jose would be a fascinating fit, showcasing their intent on serious contention sooner rather than later. Panarin’s interest in Florida is well known, as he could reunite with Sergei Bobrovsky, but it would require unfathomable gymnastics to work out a deal. Finally, Panarin could be the star Carolina has been patiently waiting to add after Mikko Rantanen didn’t work out.
Besides the Blueshirts’ leading scorer and his expiring $11.6MM contract, it’s not as immediately clear who could be next. In the interest of their retool, it would be ideal to move on from at least one of their three 32-year-old centers; Mika Zibanejad, J.T. Miller, and Vincent Trocheck.
Out of the bunch, Trocheck stands as the only real candidate, given his manageable $5.63MM cap hit. The contract runs through his age 35 season, not necessarily ideal, but given the majorly thin center market, Trocheck could bring a haul for the Rangers. The Pittsburgh native has 36 points in 42 games, enough that center-hungry teams such as the Hurricanes, Avalanche, and Red Wings could make a push. Minnesota is also in the market, however they would have to get creative given limited cap space and trade assets.
New York faces the challenge of having immovable contracts as they navigate a retool. Zibanejad, Miller, and the polarizing Alexis Lafrenière, aside, the issue extends on both ends of the lineup. Last summer’s big ticket, $7MM deal given to 30-year-old Vladislav Gavrikov doesn’t align with their latest plans, neither does 29-year-old Will Borgen’s $4.1MM, both defenders inked through 2029-30.
Jonathan Quick, 40, has an expiring deal worth $1.55MM, but the Stanley Cup winning Connecticut native may not have interest in moving on to a backup role on a contender. As Igor Shesterkin remains out with a lower body injury, Quick is in a favorable situation, able to play regularly as he closes the book on a tremendous career.
Brennan Othmann has been shopped throughout the season, as early as mid-October. The 23-year-old former first round pick is clearly not a traditional deadline piece, but no longer in the plans, he figures to be a “change of scenery” trade candidate, for a similar younger player in need of a new role.
Veterans Sam Carrick and Jonny Brodzinski could fetch middle round draft capital, both bringing strong results at the faceoff dot. Carrick is signed through next year at $1MM, while Brodzinski is a pure rental option, versatile enough to play center or wing.
Conor Sheary makes just $775k, but the 33-year-old has hardly been effective this year, with just one tally in 37 games, not to mention he is currently on LTIR with an upper body injury. When healthy, Sheary has respectable metrics and playoff experience, but he would not bring anything notable in return.
On the back end, Urho Vaakanainen, 27, could bring a bit of intrigue as a 6’2″ lefty penalty killing specialist, as he’s inked through next year at $1.55MM.
Team Needs
NHL-Ready Youth: Given Drury’s phrasing of “This will not be a rebuild. This will be a retool built around our core players and prospects” naturally, for better or worse, New York will seek young players capable of contributing as soon as next season, in all likelihood alongside veterans such as Miller and Zibanejad. Thankfully, as a result of the K’Andre Miller trade, they have an extra first round pick for the upcoming draft already, an asset always needed regardless of “rebuild” or “retool”. However, such a deal is indicative of Drury’s struggles as a whole, as it is players such as Miller who the Rangers are lacking if they can turn it around without entirely bottoming out. The club has a top heavy prospect pool, and a replenishment, especially on the blue line, would be beneficial.
Backup Goaltending: Although the Rangers aren’t in desperate need between the pipes, they could use a boost behind Shesterkin, with Quick’s days numbered. Prospect Dylan Garand’s development has stalled out a bit, still waiting on his NHL debut at age 23, and the Rangers are thin in the goaltending department elsewhere.
Image courtesy of Charles LeClaire-Imagn Images
Noah Laba Leaves Game With Injury
- New York Rangers rookie forward Noah Laba left yesterday’s loss to the Pittsburgh Penguins with an upper-body injury, according to a team announcement. The Rangers did not have any further update on Laba’s status after the game, other than to say that he will continue to be evaluated. Laba, 22, has broken into the Rangers organization as a full-time NHL bottom-six center in what is his first full campaign of professional hockey. The former Colorado College pivot has scored 16 points in 53 games and is playing 13:17 time on ice per game, including a limited role on both sides of special teams. If Laba’s absence is extended, the Rangers could struggle to adequately replace the role Laba fills in their lineup, and that’s especially true if the club elects to trade 33-year-old veteran center Sam Carrick, who is under contract for an additional year at a $1MM cap hit and could draw interest from contending teams.
Latest On Artemi Panarin
Jan. 30th: A trade market is neatly coming together after the New York Rangers announced their plan to hold star winger Artemi Panarin out of the lineup until the Olympic break. Nearly every team in the league is weighing their chances to land the former 100-point scorer, though some are getting caught up on the contingency that any trade must come with a contract extension. The market, and the hangups, were outlined by Sportsnet’s Elliotte Friedman and Kyle Bukauskas in the latest 32 Thoughts podcast episode.
More than that, the Capitals have the future capital to build an enticing return. Their prospect pool is led by NHL rookie Ryan Leonard, who played on a line with Rangers top prospect Gabriel Perreault for four years straight in junior hockey. Washington also has flashy scorer Andrew Cristall, productive big men Ilya Protas and Eriks Mateiko, and first-round picks Lynden Lakovic and Terik Parascak in their prospect pool. While it’s likely that multiple of those players are on Washington’s list of untouchables, the chance to make a Cup heave with Panarin could be enough to force their hand.
Panarin has continued to demand respect into this season. He leads the Rangers in scoring with 19 goals and 57 points in 52 games, despite the team ranking in the bottom-six of goals scored. Panarin reached 37 goals and 89 points in 80 games last season. It was his encore performance after he vindicated back-to-back 90-point seasons with a career-best 49 goals and 120 points in the 2023-24 season. He has averaged 35 goals and 100 points per 82 games played since turning 30 in 2021. With no signs of slowing down, it appears he’ll be worth the groundbreaking trade package he seems certain to land before the Trade Deadline. This move will push New York firmly into a rebuild, and could push a new name into the group of Stanley Cup contenders.
Rangers Claim Vincent Iorio Off Waivers From Sharks, Assign Brett Berard To AHL
After moving out Carson Soucy earlier this week, the Rangers have added some young defensive depth. Sportsnet’s Elliotte Friedman reports (Twitter link) that New York has claimed defenceman Vincent Iorio off waivers from the Sharks. To make room on the roster, the Rangers announced (Twitter link) that forward Brett Berard has been sent down to AHL Hartford.
The 23-year-old started the season as a depth defenseman with Washington, the team he was originally drafted by in the second round back in 2021. After playing primarily at the AHL level over his first three seasons (with a total of nine NHL appearances during that time), the Capitals rostered him to start this year in a reserve role, worried about losing him on waivers. Sure enough, that’s what happened soon after as San Jose scooped him up in mid-October amidst some injuries to their back end.
Iorio was in and out of the lineup with the Sharks. He played regularly after being claimed but after a couple of weeks, he was in the press box. Eventually, he agreed to a conditioning stint in the minors with the Barracuda and was productive, tallying seven assists in just six games with them. Upon being recalled in late November, Iorio returned to somewhat of a regular role until recently as he has been scratched for the last two weeks. Overall, Iorio has played in 21 games this season with San Jose, notching three assists and 32 blocked shots while averaging 16:30 per night of playing time.
While the Sharks likely would have liked to have kept Iorio around, a roster crunch forced their hand. With the pending returns of Philipp Kurashev and Shakir Mukhamadullin today following their IR activations per a team announcement (plus Kiefer Sherwood not too far behind), San Jose needed a roster spot and Iorio was the one who lost his. Once Sherwood is activated, another spot will need to be cleared up as well.
Meanwhile, with the Rangers embarking on some form of retool in the coming weeks, they will be moving out more pieces before the trade deadline in March. This claim will allow them to get a look at a young defender in Iorio to assess if he can be part of their plans moving forward while also giving them insurance should any other blueliners be moved. He’s in the final season of his entry-level contract, one that carries a cap hit of just over $814K, and will be eligible for restricted free agency this summer.
As for Berard, he was only recalled on Tuesday and got into one game while up with the big club, bringing his season total to 13. He’s still looking for his first point of the season, however. The 23-year-old has six goals and a dozen assists in 30 games with the Wolf Pack and will get a chance to return to a bigger role with them after averaging just 10:33 per night with the Rangers.
Artemi Panarin Interested In Joining Florida Panthers
- The jury is still out on which team will ultimately acquire Artemi Panarin from the New York Rangers. On today’s episode of Insider Trading, TSN’s Pierre LeBrun indicated that Panarin’s camp has contacted the Florida Panthers (among others) about potentially facilitating a trade. Still, LeBrun poured some cold water on that idea, indicating that it would be nearly impossible for the Panthers to afford an extension, and Panarin has reportedly made that a requirement.
[SOURCE LINK]
New York Rangers Recall Brett Berard
Now that they’re committed to sitting out Artemi Panarin until he’s eventually traded, the New York Rangers needed another forward to fill the void. According to a team announcement, the Rangers have recalled Brett Berard from the AHL’s Hartford Wolf Pack.
Today’s transaction marks the fourth time that Berard has been recalled by New York this season. Throughout his previous three recalls, he appeared in 12 games for the Rangers, going scoreless while earning a -1 rating, averaging 10:42 of ice time per game. He’ll likely slot into a similar bottom-six role, if he plays at all.
Regardless, it’s a significant decrease in NHL action for Berard compared to last season. During the 2024-25 campaign, Berard played in 35 games with New York, registering six goals and 10 points with a -6 rating, averaging 10:43 of ice time. That limited his availability in Hartford, where he scored nine goals and 23 points in 30 games. He has already played the same number of games for the Wolf Pack this season, putting up six goals and 18 points.
Despite the relatively solid offensive output last season for a former fifth-round pick, there were some concerns with Berard’s play on the defensive side of the puck. That’s not uncommon for a younger forward. At even strength, he concluded the 2024-25 season with an 89.2% on-ice SV%. Still, he’s improved drastically this season, managing a 95.0% mark, albeit in fewer appearances.
At any rate, given that the Rangers are expected to make a few trades leading up to the March 6 trade deadline, there will likely be more opportunities for Bedard. If that’s the case, he’ll be in range of usurping his total games played from last year.
San Jose Sharks Interested In Artemi Panarin
The New York Rangers made waves yesterday when they held star forward Artemi Panarin out of their lineup for roster management reasons, indicating that the team plans on trading the player at some point in the near future. One team that has emerged as a contender for Panarin’s services is the San Jose Sharks. According to Sheng Peng of San Jose Hockey Now, the Sharks “have inquired” about trading for Panarin, and Panarin “would be willing to sign an extension with San Jose.”
It was reported in no uncertain terms yesterday that Panarin, who owns a full no-move clause and therefore has complete control over the trade process, is only interested in being dealt to a team where he will not be a rental player; he’s only interested in trades to teams where he sees himself playing beyond 2025-26. Based on Peng’s report, it appears the Sharks are one of those teams.
That San Jose is in a position to potentially swing a deal for Panarin is a real surprise, at least based on the position their franchise appeared to be in at the start of the season. The rebuilding Sharks were the NHL’s worst team last season, and few expected them to make such a sizable leap in 2025-26. The generally held belief was that while San Jose was likely to improve, they’d still need to develop and add more talent before seriously competing for a playoff spot.
The brilliance of star pivot Macklin Celebrini has changed things. He’s played like a legitimate Hart Trophy contender, scoring 78 points in 51 games and powering the Sharks to a surprising 27-21-3 record, good for the Western Conference’s final playoff spot.
The Sharks are a team on the rise, and it’s understandable that they’d be interested in adding Panarin to their already extremely talented forward group. While Panarin, at 34, doesn’t fit the Sharks’ long-term vision, his addition could provide a serious boost to both the team’s near-term competitive hopes, as well as the development of some of their younger scoring forwards. 
Panarin, who has 57 points in 52 games, has for the bulk of his time with the Rangers been one of the NHL’s premier wingers. There have been few more lethal scoring threats than Panarin at his position, and one has to believe getting the chance to play with, and learn from Panarin could pay dividends for young scorers such as Will Smith, William Eklund, and even Michael Misa down the line.
While the Sharks are only one of likely several teams to be interested in Panarin, there are a few factors both working against them, and in their favor.
San Jose’s status as a West Coast team may hurt them. The Athletic’s Vincent Z. Mercogliano reported that Panarin has a preference to sign with an Eastern Conference team. Mercogliano indicated the comparable ease of travel back to Russia could be a factor that helps explain the player’s Eastern Conference preference. It is worth noting that while he might prefer to stay east, Panarin is not entirely ruling out Western Conference landing spots, like San Jose.
Working in the Sharks’ favor is the fact that their GM is no stranger to making deals with the Rangers. Sharks GM Mike Grier used to work alongside Rangers GM Chris Drury in New York’s hockey operations department, and this wouldn’t be the first trade the pair complete together.
Additionally, the Sharks are owners of one of the league’s top prospect pools, meaning they can offer the Rangers a greater degree of choice to construct their ideal return package, whereas other clubs looking to acquire Panarin may only have a small handful of premier young players to dangle.
While there’s no guarantee, of course, that Panarin does end up a Shark, Peng’s report clearly indicates they are a team to watch as this process unfolds.
Photos courtesy of Brad Penner-Imagn Images
Rangers Sitting Artemi Panarin For Roster-Related Reasons
6:42 PM: Chris Johnston of TSN and The Athletic reports that Panarin is seeking a contract extension before he’ll sign off on any trade. With the Rangers committed to holding him out through the Olympic break if needed, Panarin now has ample time to try to work out a deal with his next team.
5:28 PM: According to Mollie Walker of the New York Post, the New York Rangers are healthy-scratching Artemi Panarin for roster-related reasons. Not only will Panarin sit tonight against the New York Islanders, but Walker shared that he won’t be back in the lineup before the upcoming Olympic break.
That means, at least in the short-term future, that Panarin will miss the next four games for the Rangers. In all likelihood, he has played his last game for the Rangers.
Still, there’s no indication that a Panarin trade is particularly close. Because of the no-movement clause included in his contract, Panarin would have to greenlight any trade out of New York. It is believed that the Rangers have asked Panarin to provide a list of teams he would be willing to join, and today’s news suggests that Panarin has at least offered them a few options.
It’ll be interesting to see how long New York is willing to keep Panarin on the sidelines. Because there’s no indication a trade is close, and not every team linked to Panarin has sufficient cap space to acquire Panarin (though they would by the time the trade deadline rolls around), there’s a possibility that a deal won’t materialize until closer to the deadline. It would be unlikely, but that worst-case scenario could have Panarin without game action for over a month.
Regardless, if he has already played his last game with New York, he has finished as one of the organization’s best offensive players ever. Since joining the Rangers ahead of the 2019-20 campaign, Panarin has scored 205 goals and 607 points in 482 games with a +68 rating. He has consistently maintained a CorsiFor% above 50.0% at even strength and was a top-five scorer in the league as recently as the 2023-24 season.
Much of the concern regarding Panarin’s tenure with the Rangers has stemmed from a perception that he “disappears” during the playoffs. This claim is wholly unfounded.
Although Panarin hasn’t maintained his regular-season scoring pace in the postseason, he has recorded 19 goals and 53 points in 62 playoff games since joining the Columbus Blue Jackets before the 2017-18 season. Exclusively with the Rangers, he’s registered 12 goals and 35 points in 46 games while averaging more than 20 minutes per night, helping the team reach two Eastern Conference Finals.
It’s an evolving situation, but Panarin should be with a new team relatively soon.
New York Islanders Acquire Carson Soucy
9:40 p.m.: The Islanders have now officially announced their acquisition of Soucy.
7:10 p.m.: While no deal has been officially completed to this point, ESPN’s Emily Kaplan reports that the Rangers will receive a 2026 third-round pick from the Islanders in exchange for the veteran defenseman. That’s identical to the price the Rangers paid the Canucks to acquire Soucy in March of last year.
Soucy was held out of the Rangers’ lineup for their game tonight against the Boston Bruins for “roster management reasons,” a source with knowledge of the situation told Stephen Whyno of the Associated Press. Again, while no trade has been officially announced, it appears overwhelmingly likely that Soucy will end up an Islander at some point in the very near future.
The Rangers also made two roster moves today to prepare themselves for the loss of Soucy. New York sent spare forward Anton Blidh back down to their AHL affiliate, the Hartford Wolf Pack, and recalled veteran blueliner Connor Mackey. Mackey’s recall gives New York a seventh defenseman for its active roster once Soucy is officially transferred to the Islanders.
12:20 p.m.: The Rangers and Islanders are deep in talks on a deal that would send defenseman Carson Soucy across town to Elmont, Vince Z. Mercogliano of The Athletic reports. If the trade doesn’t get materialized today, Soucy has still played his last game as a Blueshirt – he’ll be scratched for tonight’s game against the Bruins to protect him from an injury, Mercogliano said.
Soucy, 31, is purely a shutdown threat at this stage of his career. He was a fifth-round pick by the Wild back in 2013 and took a long development path through college and the minors before emerging as a full-time piece for the 2019-20 season. After two full years in Minnesota, he was plucked by the Kraken in the 2021 expansion draft.
Since then, Soucy hasn’t spent more than two full seasons with an organization. Upon becoming an unrestricted free agent for the first time in 2023, he inked a three-year, $9.75MM deal with the Canucks worth $3.25MM annually. He’s in the final year of that deal now, having waived his no-trade clause last season to facilitate a deal to the Rangers at the deadline. He now finds himself on the move once again, but won’t need to travel very far as the New York clubs complete their first trade with each other since 2010 and just the fourth all-time.
At best, his free-agent splash in Vancouver can be described as fair value. He missed more than half of his only full season in Vancouver with various injuries before posting a career-worst -11 rating in 75 appearances with the Canucks and Blueshirts last season. This year, while his eight points and a +4 rating in 46 games look acceptable enough for a second or third-pairing threat, his underlying numbers show an uglier picture. His two most frequent 5-on-5 pairings, on the left side with William Borgen and Braden Schneider, have both controlled a team-worst 42.4% of expected goals, per MoneyPuck. His 43.8% Corsi share at even strength also ranks last among Rangers defenders despite him seeing easier deployment than Borgen, Schneider, and Urho Vaakanainen.
Soucy was a great two-way piece lower on Seattle’s depth chart during his two-year run there, though, including a career-best 10 goals and 21 points in 64 games during the 2021-22 season. The 6’4″, 211-lb lefty also averages 101 blocks and 129 hits per 82 games for his career, so he brings a physical edge to an Isles blue line that’s lost high-paid shutdown threat Alexander Romanov for virtually the entire season due to a shoulder injury. With righty Ryan Pulock now also dealing with an upper-body injury, Islanders general manager Mathieu Darche won’t play the waiting game as the Isles gun for a playoff berth in the first year of the Matthew Schaefer era.
While Soucy’s acquisition is clearly targeted at ending the third-pairing lefty rotation that’s fallen in the hands of AHL call-ups Isaiah George, Travis Mitchell, and Marshall Warren in Romanov’s absence, there’s value in his versatility – he’s played plenty on the right side in his career with no real adverse effects. There’s also a benefit for the Isles’ budgeters in his contract structure. While he counts for $3.25MM against the cap, he’s only owed $2.5MM in actual salary this season as a result of his frontloaded deal.
Latest On Artemi Panarin
New York Rangers leading scorer Artemi Panarin is arguably the best skater likely to be traded in advance of this season’s trade deadline, and as a result, it appears the Rangers are set to receive a significant package of assets in exchange for the pending UFA’s services. Yesterday, Sportsnet’s Elliotte Friedman reported on the Saturday Headlines segment of Hockey Night in Canada that the Rangers’ “starting point” in terms of their asking price on any Panarin trade is the package received by the New York Islanders when they traded away Brock Nelson last year.
The Islanders received a first-round pick, top prospect Calum Ritchie, and a third-round pick from the Colorado Avalanche in exchange for Nelson, who was also a pending UFA. That would indicate that the Rangers are, at least, looking for a first-rounder and a high-quality prospect in exchange for Panarin. Nelson was, and is, certainly not of the same caliber of talent as Panarin, but unlike Panarin, Nelson has the extremely valuable attribute of being a natural center, which upped his value considerably. Friedman named the Anaheim Ducks, Washington Capitals, and the Los Angeles Kings as teams that are considering making a pitch to acquire Panarin. The veteran, who has 56 points in 51 games this year, has the protection of a full no-move clause in his contract.