The New York Rangers could be heading towards an uncomfortable situation. The chatter about trading impending UFA Artemi Panarin could come to fruition. While the prevailing narrative is that both sides would like to remain together, the lack of an extension suggests a split could be forthcoming.
Assuming the Rangers choose to cut their losses with the Russian star, the Blueshirts could explore a trade to at least recoup something.
That situation in one resident Rangers guru Vincent Mercogliano explored in a December 23 piece in The Athletic. In the article, Mercogliano responded to a reader’s question about what a trade involving Panarin could look like for the Rangers.
Mercogliano rightfully pointed to last year’s trade in which the Boston Bruins sent former captain Brad Marchand to the Florida Panthers as a comparable. The Bruins’ deal could serve as a broad framework for what the Rangers could get for Panarin.
As Mercogliano pointed out, the Rangers got a conditional second-round pick for Marchand. That pick became a first-rounder in 2027 as the conditions of said pick were met. That situation means that the Rangers could pluck a second or first-rounder for Panarin.
But would that price be enough? That would depend on one key situation: Panarin, like Marchand, has a full no-movement clause. That situation makes it impossible for the Rangers to make a deal without getting Panarin’s assent.
If the Rangers were able to convince Panarin to waive his no-movement clause, the Rangers could look at the following return:
“A first-round pick plus another mid-rounder or B-level prospect seems reasonable, but the Rangers already have two firsts in the upcoming draft. Their preference would be good, young players who can contribute sooner, but how many teams are willing to surrender those for a 34-year-old rental?”
Therein lies the issue. Unless the acquiring team could get some assurance that Panarin would come with an extension, the likelihood of a considerable return would be virtually null.
But then again, would the Rangers be willing to take their chances and see Panarin just walk away in free agency? Would that be something the Rangers' fanbase could accept? That is, of course, the two sides could come together an agree on an extension mostly on Panarin's terms.
That’s the harsh reality the Rangers face this season. If the club falls out of playoff contention within the next three or four weeks, expect the Panarin chatter to pick up. Otherwise, the Rangers may just see the Russian sniper as an internal rental and see what plays out in the summer.