The New York Rangers announced the news that everyone was expecting regarding Artemi Panarin's immediate future, but a recent update from a top NHL insider has added a wrinkle to the situation. Panarin will be held out of all upcoming Rangers games between now and the Olympic break, and the organization is doing so for roster management purposes as they look to keep him healthy for a potential trade. Potential trade is the best way to frame it, as there's no guarantee that the Blueshirts will be able to move him.
NHL Insider shares conditions of Artemi Panarin waiving his NMC
According to Chris Johnston, Panarin is seeking a contract extension before signing off on any trade. In other words, Panarin only wants to move once, and if he's unable to get a committment from teams interested in trading for him, he could just as easily finish the regular season with the Rangers and test the market on July 1.
Teams like the Colorado Avalanche and Dallas Stars have been floated as clubs who could potentially be interested in Panarin, but financially it may not be feasible. For starters, the Stars are projected to have $16.444 million in cap space this summer with 17 of 23 roster spots spoken for. With Panarin looking to maximize his earnings on what could be his final contract, it would be near impossible for Jim Nill to make it work. Colorado has even less wiggle room, as they have a projected roster featuring 18 skaters with just $7.225 million in cap space.
Which teams could be in a position to sign and trade for Panarin?
If an extension is a crucial part of Panarin accepting a trade, there's two teams who would be most likely to work out a deal. The first is the Carolina Hurricanes, a perennial playoff team that seems like it could always use more offense in the spring, and the Los Angeles Kings who are seeking a star to replace Anze Kopitar.
Starting with the Hurricanes, they have a projected roster of 20 skaters for next season, and $13.989 million in cap space, which is more than enough to sign Panarin to a deal. They also have more than enough space to add him at the deadline, especially once the Rangers eat 50 percent of his contract. They also have a balance of young players, prospects, and draft picks the Rangers would be looking for. The Rangers and Hurricanes were able to execute a sign and trade in the summer with K'Andre Miller, and who is to say they won't do the same with Panarin?
Los Angeles has significant space to add Panarin in season, and will have $25.982 million in space this summer with a projected roster of 18 of 23 skaters. The Kings are losing Kopitar to retirement, and they will replace his role on the roster with Quinton Byfield. But in terms of having another impact forward, Panarin would be a great fit to the roster along with Kevin Fiala. They have some interesting assets at their disposal, but I don't think they'd beat Carolina in a head-to-head offer. It ultimately would come down to where Panarin wants to play most, but they certainly feel like a place he'd want to play.
If I were to list a third team just to have a hypothetical bronze medal finish, I'd keep an eye on the Washington Capitals. If the Caps were to get involved, it would be their way of unofficially announcing that Alex Ovechkin is retiring. They are projected to have $36.5 million in cap space this summer with a projected roster that includes 16 of 23 skaters.
Ovechkin is making $9.5 million this year, and Panarin would earn slightly more. In terms of other spots to take care of, they need to decide how to round out their defense, and that includes whether or not John Carlsonn will come back. Connor McMichael will need an extension too, and there's a few other players who will need to be re-signed or replaced. They technically could add Panarin and have Ovechkin come back for a farewell tour, but it would create a pretty crowded top-nine.
What happens next with Panarin will be very interesting, and the Rangers have just three games until the break. They are back in action against the New York Islanders on Thursday, they head to Pittsburgh for a matinee against the Penguins on Saturday, and return home for one more game against the Carolina Hurricanes on February 5.