The 2026 NHL Olympic trade freeze begins at 3:00 p.m. Eastern on Wednesday, February 4, 2026, lasts until 11:59 p.m. Eastern on February 22, 2026, and that means the clock is ticking for the New York Rangers to finalize an Artemi Panarin trade. The Rangers would still be able to trade him after the freeze is lifted, but the expectation is that Panarin only wants to move once, and an extension being part of a trade before the deadline would allow him to spend the Olympic break moving and acclimating to his new home. There's been no shortage of rumors, reports, television and radio appearances by various NHL insiders, and with time being of the essence, here's everything you need to know regarding Panarin.
Panarin is seeking a $50 million extension
Elliotte Friedman recently reported that Panarin is seeking an extension worth $50 million. The deal would be in the four or five year range, and given that Panarin is 34, that's something that could limit his market. A recent as Monday, Friedman also said that there's a 75% chance that Panarin is moved before the Olympic roster freeze, and that he's been treating the recent days like a big ticket UFA treats July 1 free agency in that he's interviewing teams just as much as they are interviewing him.
On the most recent edition of 32 Thoughts that dropped on Tuesday morning, Friedman mentioned the Tampa Bay Lightning as a team that recently entered the mix, and it is notable because they weren't apart of the group talked about over the weekend.
Which teams have expressed interest in Panarin?
During Saturday headlines on Hockey Night in Canada, all of the teams interested in Panarin were broken into groups. The divide was teams that would want to trade for Panarin with an extension, and those who saw him more as a rental. The obvious rub here is Panarin's preference to lock in an extension, but if the market doesn't materialize like he thinks, the UFA to be would need to be flexible. To recap, those teams were as follows:
Extension Teams: Washington Capitals, Los Angeles Kings, San Jose Sharks, Florida Panthers, Detroit Red Wings
No Extension: Colorado Avalanche, Dallas Stars, Anaheim Ducks
50/50: Carolina Hurricanes
Florida teams are making a serious push
As mentioned above, the Lightning are now in the mix, and given the recent story from PuckPedia on how the Panthers could make a deal for Panarin work, it definitely feels like there's momentum on the Rangers' superstar heading to the Sunshine State.
To that point, Rangers' beat writer Vince Mercogliano also had this to say about the evolving Panarin situation on Tuesday morning:
With tomorrow's 3 p.m. roster freeze closing in, it feels like things are heating up on the Artemi Panarin trade front. Maybe there's a team I'm missing, but I've got a list of 6 who seem to be in it, to varying degrees and for varying reasons
Panarin’s top choices if they can swing the extension: FLA, TBL
Best cap situation to offer the extension: CAR, LAK
Most appealing assets to offer in return: SJS, WAS
Other teams remain in the mix, but it certainly feels like there's been a shift.
Panarin's 2025-26 season stats and contract status
The Rangers' forward is in the final year of a seven-year contract worth $81.5 million, and he has a cap hit of $11,642,857 AAV, and the team can retain up to 50% ($5,821,428) to facilitate a trade. Panarin has appeared in 52 games this season and has scored 19 goals while adding 38 assists for 57 points. He finished the 2024-25 season with 89 points in 89 games, and the year prior he tallied 120 points in 82 games. Panarin was a Hart Trophy Finalist during the 2019-20 season, and finished with 95 points in just 69 games.