Salary Cap Deep Dive: New York Rangers
Navigating the salary cap is one of the more important tasks for any GM. Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation for the 2023-24 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
New York Rangers
Current Cap Hit: $83,603,531 (over the $83.5MM Upper Limit)
Entry-Level Contracts
F William Cuylle (two years, $828.3K)
D Braden Schneider (one year, $925K)
Potential Bonuses
Cuylle: $82.5K
Schneider: $400K
Total: $482.5K
Cuylle has done a nice job in a full-time bottom six role in his first taste of NHL duty. His offensive numbers aren’t going to stand out by any stretch but it’s a nice way to ease him in. This will certainly limit his earnings upside on his next contract, however; a bridge deal in the $1.5MM to $2MM range might be his best-case scenario. Bonus-wise, his are based on games played so right now, he’s trending to reach that full amount.
Schneider has been a regular on New York’s back end dating back to last season but his role has been rather limited so far as basically a permanent third-pairing piece. That should have his next contract around the $1.5MM mark as well. For him, his bonuses are ‘A’ ones and the only ones he might have a shot at are blocked shots (needs to finish in the top two for defensemen) and plus/minus (top three among Ranger blueliners). At the moment, he doesn’t qualify to reach either of them.
Signed Through 2023-24, Non-Entry-Level
F Nick Bonino ($800K, UFA)
F Jonny Brodzinski ($762.5K, UFA)
D Erik Gustafsson ($825K, UFA)
F Kaapo Kakko ($2.1MM, RFA)
D Ryan Lindgren ($3MM, RFA)
F Tyler Pitlick ($787.5K, UFA)
G Jonathan Quick ($825K, UFA)
F Blake Wheeler ($800K, UFA)
Potential Bonuses
Quick: $100K
Wheeler: $300K
Total: $400K
After getting 40 points last season, it looked like Kakko was heading in the right direction but he has struggled this year. Still, it’s unlikely New York will give up on the 2019 second-overall pick. However, they might want to go much higher than his $2.4MM qualifying offer. Wheeler took a well below-market contract to go to the Rangers and while his numbers are down compared to his time in Winnipeg, he’s also playing lower in the lineup. He’s worth more on the open market if he wants to max his money out next summer or he could stick with this route on a potential contender. His bonuses are based on games played and have already been achieved.
Bonino made sense as a low-cost depth option with what should have been some offensive upside although he hasn’t been able to display that this season. This close to the league minimum, he could land a similar deal on the open market next summer but could also be a PTO candidate. Pitlick has been on near-minimum deals over the last couple of seasons and as a depth player this season, that’s unlikely to change. He could get a contract at a similar price point in the summer or might have to go the PTO route as he did the year before. Brodzinski, meanwhile, has been a dominant AHL scorer but hasn’t produced much in the NHL. While he’s also likely going to stay around the league minimum, he should be able to at least land a one-way contract for next season.
Lindgren is one of New York’s more interesting expiring deals this summer. He’s a very effective defensive defenseman but simply doesn’t put up many points to help drive his price tag up. His qualifying offer is $3.6MM and he should get more than that but his ceiling might be closer to the $4.5MM range even with arbitration rights. Notably, he’s a year away from UFA eligibility. Gustafsson, meanwhile, is the exact opposite. He is a productive offensive defender but struggles considerably in his own end. Settling for this contract after a 42-point campaign suggests that teams aren’t willing to pay a premium for the points knowing his defensive struggles and the need to shelter him at five-on-five. A small raise past the $1MM mark wouldn’t be shocking but it’s hard to project a big increase.
Expectations weren’t high for Quick after a rough 2022-23 campaign but he has been a difference-maker for the Rangers this season. However, he just turned 38 so it’s unlikely there will be teams looking at him as a starter or a strong-side platoon option. If he wants to go for the money, he could do better than this on the open market but it wouldn’t be surprising to see him stay or take a similar deal to this one with a contender for next season. The details of his bonuses aren’t known.
Signed Through 2024-25
D Zachary Jones ($812.5K, RFA)
F Alexis Lafreniere ($2.325MM, RFA)
D K’Andre Miller ($3.82MM, RFA)
G Igor Shesterkin ($5.667MM, UFA)
F Jimmy Vesey ($800K, UFA)
With Lafreniere scuffling through his first few NHL seasons, it came as no surprise that he followed Kakko in signing a bridge deal. He’s fared a bit better in his first year under Peter Laviolette although he hasn’t yet become that consistent top threat that they hoped he’d be when they picked him first overall in 2020. If he keeps at his current pace and then takes another small step forward next year, he’ll certainly do enough to beat his $2.65MM qualifying offer. But will New York be convinced that he’s worthy of that long-term big-money contract in the $7MM range if that happens? Or might they try one more bridge deal (likely a one-year pact) worth closer to half that? It’s still early but there is a wide range of outcomes when it comes to his next deal.
Vesey opted to avoid going through free agency, instead choosing to sign this contract in-season last year. It gives him some stability while he has outperformed the deal so far as a capable depth scorer. Having bounced around in his career will hurt him a bit if he gets to free agency next time as teams will wonder if he’s turned a late corner or if he’s just a fit for how the Rangers play. Still, a small raise at a minimum should be doable.
Miller had no choice but to take a bridge deal over the summer as well given New York’s limited cap space. He continues to be a valuable two-way piece on their back end despite not seeing much power play time. Miller will be owed a $4.646MM qualifying offer in 2025 but his next contract could check in closer to double his current one if a long-term agreement is worked out. Jones, on the other hand, has had a very limited role so far. He’ll need to lock down a full-time spot if he wants to reach the seven-figure mark on his next deal.
Shesterkin has been one of the top goalies since coming over for the 2019-20 campaign although his first half of this season has been more pedestrian. Still, the 28-year-old is regarded as one of the top netminders league-wide and he’ll be well-positioned to capitalize on that reputation on this next contract. He’ll likely look to Winnipeg’s Connor Hellebuyck (seven years, $8.5MM on his recent extension) as a starting point for discussions.
Signed Through 2025-26
F Artemi Panarin ($11.643MM, UFA)
D Jacob Trouba ($8MM, UFA)
No one will ever call Panarin’s contract – the richest for a winger in NHL history – a bargain but at the same time, it’s fair to say that he has lived up to it so far, producing at a 105-point per 82-game rate to put him among the top-scoring forwards in the league. There’s little reason to think a big collapse is on the horizon but that concern should come into play on his next deal, one that’s likely to be more of a medium-term agreement at a small discount on his current rate given the age risk.
Trouba hasn’t been able to get back to the offensive highs he reached in his final season with Winnipeg but for the tough minutes he logs, the captain is still providing some value on this deal. Having said that, if he wants to land any sort of sizable raise, he’ll need to rediscover at least some of that scoring touch. Otherwise, his next deal should check in close to this one.
Rangers Recall Jake Leschyshyn
The Rangers have elected to make a roster move in advance of their game Friday against Vegas, announcing (Twitter link) that they have called forward Jake Leschyshyn from AHL Hartford.
The 24-year-old has spent the majority of the season with the Wolf Pack, getting into 16 games so far where he has four goals and three assists. Leschyshyn was up with New York briefly earlier this month, making one appearance at the top level. For his career, he has six points in 77 NHL appearances between the Rangers and Vegas. He’s in the second season of a three-year, one-way deal that carries a cap hit below the minimum salary, coming in at just under $767K.
The Rangers already had 13 healthy forwards on their roster before this move so it’s a bit curious that they’ve opted to add Leschyshyn as well. The move will officially be registered on Thursday (since the recall came after 4 PM CT) so it will be interesting to see if there’s any sort of corresponding roster move at that time.
No Timeline On Return Of Filip Chytil
- Having been on the New York Rangers’ long-term injured reserve since November 28th, there is still no timeline for the return of Filip Chytil according to head coach Peter Laviolette (X Link). Hoping to build off his successful 2022-23 season under a new coach, Chytil has only managed 10 games before suffering an upper-body injury in early November, limiting his production to a total of six assists on the season.
[SOURCE LINK]
Rangers Assign Matthew Robertson To AHL
- The Rangers returned defense prospect Matthew Robertson to AHL Hartford today, the team’s PR department said. The 6-foot-4 22-year-old came up to serve as injury insurance for the first two games of the Rangers’ California road trip but did not play. As such, they’ve decided to return him to the minors before their game against the Sharks in San Jose tomorrow. Their 2019 second-round pick is in the final season of his entry-level contract and is still looking to make his NHL debut. He’s posted two goals, 11 assists and 13 points with a -3 rating in 32 games with Hartford this year.
Erik Gustafsson Out With Lower-Body Injury
- Earlier today, Arthur Staple of The Athletic reported that New York Rangers defenseman Erik Gustafsson is considered day-to-day with a lower-body injury, and would not be in the team’s lineup tonight. Playing on an extremely valuable one-year, $825K contract this year, Gustafsson has scored four goals and 21 points in 44 games, sitting second on the team in scoring amongst defensemen.
[SOURCE LINK]
Rangers Recall Matthew Robertson
The Rangers recalled defenseman Matthew Robertson from AHL Hartford on Friday, per a team announcement.
New York adds some blueline depth to their roster as they continue their West Coast swing with three games in four nights. Per The Athletic’s Arthur Staple, Robertson comes up as injury insurance for an undisclosed defenseman who’s not 100 percent healthy. He will likely serve as a healthy extra on the road trip, with Zachary Jones drawing in instead if one of the Rangers’ top six defensemen needs to exit the lineup due to injury.
The 22-year-old Robertson has yet to play in an NHL game, but he’s one of the Rangers’ more intriguing defense prospects. He has NHL-ready size at 6-foot-4 and 201 lbs., but his development in the minors has stagnated over the past 18 months. In 32 games with the Wolf Pack this year, Robertson has two goals, 11 assists and 13 points with a -3 rating.
Notably for Robertson, he is in the final season of his entry-level contract. If he can make his way into the lineup for his NHL debut, it could go a long way toward securing some additional compensation on his second major league deal. The 2019 second-round pick is on track to receive a qualifying offer at season’s end and will not be eligible for arbitration.
This is his second recall of the month. He was ferried up for a brief period on Jan. 11, but was sent down before that night’s game against the Blues.
New York Rangers Send Down Anton Blidh
- The New York Rangers have assigned forward Anton Blidh to their AHL affiliate, the Hartford Wolf Pack, per a team announcement. It was a brief stay with the Rangers for Blidh, who was originally recalled on an emergency basis to suit up in last night’s game against the Washington Capitals. In only a little over five minutes of ice time, Blidh had very little effect on the outcome of the game, and will now return to a Hartford team where he has nine points in 29 games on the season.
[SOURCE LINK]
Morning Notes: Kakko, Hodgson, Sobotka
New York Rangers head coach Peter Laviolette has announced that winger Kaapo Kakko is set to make his return from a lower-body injury on Sunday. He has been out of the lineup since November 27th, missing 21 games. The Rangers placed Kakko on long-term injured reserve on November 28th, alongside linemate Filip Chytil, who is also progressing from an expected concussion.
Kakko was off to a slow start before his injury, managing just two goals and one assist in 20 games. He’s continuing to search for his groove in the NHL, scoring a career-high 40 points in 82 games last season. It was only the second time that Kakko has played in more than 50 games in a single season since making his debut in 2019-20.
The New York Rangers have also sent Jake Leschyshyn back to the minor leagues, after bringing him up on an emergency recall on Tuesday. He appeared in one game with the top club, setting a -1 in six minutes of ice time in New York’s Thursday night loss to the St. Louis Blues.
More notes from around the league:
- 328-game veteran of the NHL Cody Hodgson is reportedly eyeing a return to professional hockey, per Sportsnet’s Elliotte Friedman. Hodgson had to step away from the game in 2016 after being diagnosed with malignant hyperthermia. But he’s returned to the ice, skating routinely in an effort to get back on the ice. The 33-year-old was drafted 10th overall in the 2008 NHL Draft – a part of a First Round that’s yielded 12 different players with 700 or more games played.
- Long-time St. Louis Blues winger Vladimir Sobotka has signed a one-year extension with HC Sparta Praha of the Czechia Extraliga. He’s a 528-game veteran of the NHL, recording 171 points, 362 penalty minutes, and a -22 over his career. Sobotka has been productive in Czechia, with 19 points in 27 games this season, bringing his totals up to 121 points in 148 games with Sparta Praha since joining the team in 2020-21.
Rangers Reassign Jake Leschyshyn
Jan. 13: Leschyshyn was returned to Hartford today, per a team release. He logged a -1 rating and 6:28 of ice time in his lone appearance for the team, a 5-2 loss to the Blues on Thursday. He was pushed out of the lineup in today’s loss to the Capitals with Mika Zibanejad returning from illness.
Jan. 10: The New York Rangers have announced that they’ve recalled forward Jake Leschyshyn from the Hartford Wolfpack of the AHL. Leschyshyn was seen in practice today on a line with Nick Bonino and Jonny Brodzinski which is a likely indication that he will play tomorrow night when New York takes on the St. Louis Blues, something Vince Z. Mercogliano of USA Today has confirmed.
The 24-year-old was a second-round pick by the Vegas Golden Knights back in 2017 and is the son of former NHLer Curtis Leschyshyn. Since turning pro in 2019 Leschyshyn has bounced back and forth between the AHL and NHL on many occasions and has been unable to establish himself as an NHL regular. While he has largely been a 13th forward and a frequent healthy scratch at the NHL level, he has been productive in the AHL in recent years. This year has, however, been an offensive struggle for Leschyshyn as he has just three goals and three assists in 14 games with Hartford.
Leschyshyn was unable to tally any points in 13 appearances with the Rangers last season and has just two goals and four assists in 76 NHL career games up to this point. However, with Tyler Pitlick out of the lineup week-to-week with a lower-body injury, the Rangers deemed Leschyshyn as their best option in the interim.
Kakko Not Quite Ready To Return Yet
- Rangers winger Kaapo Kakko isn’t quite ready to return yet, relays Newsday’s Colin Stephenson (Twitter link). The 22-year-old has missed the last six weeks with a lower-body injury and while he’s skating with the team, head coach Peter Laviolette indicated that they want to give Kakko a ramp-up period before returning so it appears he’ll need a bit more time. Kakko has struggled this season, notching just three points in 20 games before the injury.