This isn't to say that Trocheck is a problem, or he can't continue to provide value for the team. In a rising cap world they can tolerate his current production at his salary. A decision needs to come soon because the Rangers might not be as close to truly contending as they might think, and in order to put them in a better position for the next iteration of this team, trading Trocheck could help expedite that process.
His no-movement clause changes to a modified no-trade clause on July 1, 2025 in which there are 12 teams he can block a trade from per PuckPedia. He will also earn a $3 million signing bonus on that day. On July 1, 2026 the list shrinks to 10 teams and gets another $3 million signing bonus. After that Trocheck has a 6-team no trade in 2027-28 and 2028-29, and he will earn a $1.5 million and $1 million signing bonus respectively.
The "TL/DR" of the above section is that Trocheck's big bonuses will be all but paid off by the time free agency 2026 comes around, and his trade protection list will continue to shrink. His contract was structured in such a way that Trocheck would have security as a player in his initial years, and the Rangers would have flexibility in his later years if/when decline set in. While they are not fully there yet, it could be trending in that direction.
In the best case scenario, Trocheck and the Rangers mutually rebound in 2025-26, and it becomes clear to all that 2024-25 was a temporary blip for what has been a moderately successful team that has gotten close to the Stanley Cup Final. But how often do best case scenarios play out following a near-worst case scenario? There is still time for redemption, but Trocheck, the front office, and the fans should all prepare themselves for what could come next. Anything could happen in a New York minute.