The 2025 NHL Draft gets underway in Los Angeles this evening, and the New York Rangers are currently without a pick for Round 1, although there's always the opportunity for them to make a trade to join in on the fun. Any trade the Rangers make will need to be a calculated one, as they have other business to attend to. Trades are very common at the draft, more so during the second day because of the volume of picks, and now's as good a time to give an update on what the Rangers are prepared to do should the opportunity present itself.
2025-26 Salary Cap
For the 2025-26 NHL season the lower limit of the salary cap, often referred to as the salary floor, has been set at $70.6 million. This means every team in the league must spend this much money at a minimum. The upper limit, which is what most people are familiar with as the salary cap, is set at $95.5 million and is the absolute maximum a team can spend to.
New York Rangers Active Contracts
As of this writing, the Rangers have $83,302,858 in active contracts counting against the salary cap. They currently have $48,877,857 allocated on 13 forwards, they have $21,375,000 allocated on eight defensemen, and $13,050,000 allocated between Igor Shesterkin and Jonathan Quick.
Pending Free Agents
The Rangers have a mix of free agents who are in need of new contracts, most of which are restricted free agents. Here are who the Blueshirts need to make decisions on.
- K'Andre Miller, Defenseman RFA
- Will Cuylle, Forward - RFA
- Zac Jones, Defenseman - RFA
- Arthur Kaliyev, Forward - RFA
- Calvin de Haan, Defenseman - UFA
- Nicolas Aube-Kubel, Foward - UFA
Of this group, it appears that Will Cuylle is the only players the Rangers will bring back. Cuyyle just finished his entry-level contract, and his next contract is expected to be a bridge deal that could be worth $3 million at a minimum, There's a chance it comes in lower than that, but the Rangers want to set themselves up so that if he were to have a breakout on this next deal that he doesn't have too much of a jump financially on that third contract.
The Rangers reportedly want to trade Miller, but to this point they've not yet found a deal to their liking even though it's been reported that 12 to 15 teams have inquired about him. If the Rangers were not able to find a trade partner, they can always submit a one-year qualifying offer to Miller for $4,646,000. If he doesn't like that number, he can elect arbitration.
As for the other names, Jones technically could get another contract, but the team's signing of Matthew Robertson seems to suggest that they are set on a depth defenseman who can step in should the situation arise.
Remaining Cap Space
The Rangers roster includes 21 players, and they have $12,197,142 in projected cap space. If Cuylle returns on a $3 million deal, that number would drop to $9,197,142, which would give them enough to bring in a defender for Miller's spot. The Rangers have been linked to Vladislav Gavrikov, and he's expected to command $8 million or more which would basically eat up the Rangers' remaining cap space.
Trade Opportunities
Given that the Rangers' remaining cap space is mostly accounted for, if they were to make a trade at the draft in order to acquire a first-round pick, they would need to free up some space if they were to take a bad contract in a potential deal as a way of lowering the cost of acquiring a pick. Most of the team's assets of note are young players and prospects, and that doesn't offer a ton of relief. But with that said, the team has some options.
- Alexis Lafrenière - $7.45 million, seven years remaining
- Carson Soucy - $3.25 million, one year remaining
- Braden Schneider - $2.2 million, one year remaining
- Jusso Parssinen - $1.25 million, two years remaining
- Sam Carrick - $1 million, two years remaining
If the Rangers are making a blockbuster trade, the only way they may be able to afford it and not impact their other business would be by including Lafrenière. This isn't something they may want to do, but of all the big money players on their books, he's the only one of note without any form of protection because he's not currently eligible to have it. Such a trade that netted them a first round pick would assuredly include roster players as well, and while it isn't a popular choice it's just a financial decision they may have to come to terms with.
Soucy wasn't a great fit for the Rangers, and if they are able to dump his salary at the draft things would get a little smoother for President and General Manager Chris Drury. His current contract could essentially pay for Cuylle, and that's a trade the team would love to make.
Lastly in terms of assets, the other names on the list are just players who are overpaid relative to their role on the team, is Braden Schneider. Unless the plan is to play him on the left side, he doesn't have a future on the team. Adam Fox is a franchise all-NHL defender locked up on the top pair. Will Borgen just signed a five-year extension and occupies a spot on the second pair. That leaves no upward mobility for Schneider, and it may be best for the team to sell high and free up $2.2 million in the process.
Rangers 2025 Draft Picks
- No. 43 overall in Round 2
- No. 70 overall in Round 3
- No. 89 overall in Round 3
- No. 111 overall in Round 4
- No. 139 overall in Round 5
- No. 166 overall in Round 6
- No. 171 overall in Round 6
- No. 203 overall in Round 7
2025 NHL Draft Information and Where to Watch
Coverage of Round 1 of the 2025 NHL Draft starts at 7:00 p.m. Eastern and will be broadcasted on ESPN, and ESPN+ in the United States, and on Sportsnet in Canada.
Coverage of Round 2 of the 2025 NHL Draft starts at 12:00 p.m. Eastern and will be broadcasted on NHL Network and ESPN+ in the United States, and on Sportsnet and Sportsnet 1 in Canada.