NHL's new offer sheet rules reveal exactly who the Rangers can afford to target

The NHL has just revealed compensation ranges for offer sheets for the upcoming restricted free agency period, and New York Rangers President and General Manager now knows who he can target if he has an appetite to be bold this summer.

Offer sheets are pretty rare in the NHL, With recent examples of unmatched offer sheets including Jesperi Kotkaniemi in 2021, and the dual offer sheets of Philip Broberg and Dylan Holloway from the St. Louis Blues in August of 2024.

Prior to that, you need to go back to July 2007 in which the Anaheim Ducks declined to match an offer from the Edmonton Oilers which ultimately netted them a first, second, and third round pick.

The Rangers have very little wiggle room, but there is an outside chance they could strategically work with what they have in order to land a difference maker this summer. Let's get right into.

NHL offer sheet compensation ranges set for 2026-27 season

As you can see the range goes from $1,575,970 on the low end to above $11,939,167 on the high end, and there is a different level of compensation for each individual rung. The Rangers are not able to participate in each tier, and this is because they do not own all of their draft picks. That said, here are the tiers they can participate in, and what the compensation would be.

• Above $11,939,167 - Four first round draft picks over next five drafts starting in 2027
• $4,775,667 - $7,163,498 - 2027 first round pick and 2027 third round pick
• $1,575,970 - $2,387,832 - 2027 third round pick
• Below $1,575,969 - No compensation

The Rangers traded their 2027 second round pick on July 1, 2024 to acquire Reilly Smith from the Pittsburgh Penguins. Not that it matters for compensation purposes, but New York also traded their 2027 fourth round pick, again to the Penguins, to acquire Chad Ruhwedel on March 8, 2024.

The lack of a second round pick crucially prevents the Rangers from engaging with RFAs on the $9,551,333 to $11,939,166 which is an area where many top guys could land, as well as the tier just below it which is $7,163,499 to $9,551,332. They also can't land anyone in the $2,387,833 to $4,775,666 range, but that's such a low threshold that any team would easily match given the cap environment.

Top players who are offersheet eligible

• Jason Robertson, Dallas Stars: 45 goals, 51 assists, 96 points in 82 games
• Connor Bedard, Chicago Blackhawks: 30 goals, 45 assists, 75 points in 69 games
• Trevor Zegras, Philadelphia Flyers: 26 goals, 41 assists, 67 points in 81 games
• Leo Carlsson, Anahein Ducks: 29 goals, 38 assists, 67 points in 70 games
• Pavel Dorofeyev, Vegas Golden Knights: 37 goals, 27 assists, 64 points in 82 games
• Adam Fantilli, Columbus Blue Jackets: 24 goals, 35 assists, 59 points in 82 games

Of this list, Robertson is the unlikeliest to get an offer sheet because of his proximity to unrestricted free agency. He has a qualifying offer worth $9,300,000 that he could sign to guarantee he walks to free agency, but I imagine if he doesn't sense he's getting the deal he wants from Dallas that there will be room for teams to try and negotiate a sign and trade. Robertson had a nice bounce back year for the Stars, and remains one of the league's most dynamic and underrated wingers.

Bedard is all but assured to sign with Chicago to continue being the face of their rebuild, but who is to say that there isn't a team out there with the guts to offer him a deal that is an overpay right now but a bargain in the future? Such an offer would be around $14 to $15 million per year.

Zegras has been a good fit for Philadelphia, and is another player who can be a UFA in a few years. He's got no reason to leave, but it is still an interesting player to think about. Carlsson, much like Bedard, is an intriguing young player who could be worth the risk of paying a little more now than he's worth, but the Ducks have the ability to match top offers.

The last one of note to the Rangers, no disrespect to Fantilli, is Dorofeyev who is currently leading the playoffs in goals. He just made $1,835,000 per season and has scored at least 35 goals in back to back seasons. Vegas has a roster size of 16 so far for the upcoming season, and just $4,625,000 in cap space. While they will certainly try and free up salary to keep their options open, stay tuned for more analysis on Dorofeyev and whether or not an offer sheet could be in the works.

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