On the heels of a 2-6-2 record over their last 10 games, speculation has begun building that the New York Rangers will eventually trade winger Artemi Panarin ahead of the trade deadline. In his recent episode of 32 Thoughts, Sportsnet’s Elliotte Friedman linked a few teams to the pending unrestricted free agent.
Though much of it was speculation, Friedman listed the Colorado Avalanche, Florida Panthers, Minnesota Wild, and Washington Capitals as potential landing spots for the four-time All-Star. For each of the four teams and additional options, a significant effort would be required to acquire Panarin.
For starters, Panarin has the seventh-highest cap hit in the league with an $11.64MM mark. However, he’s only earning an $8MM salary this season, meaning he’s somewhat more palatable in terms of actual dollars. Still, few teams would be able to absorb that cap hit outright.
Additionally, Panarin has a full no-movement clause in his contract. That means that even if the Rangers find an acceptable offer, one that balances the cap hit of all parties involved, Panarin would still need to sign off on the deal. If he decides he’d like to remain in New York to finish the season and pursue other options next summer, the Rangers won’t have any options and could conceivably lose him for nothing.
Lastly, there are no recent comparables to Panarin’s situation, especially if the acquiring team doesn’t quickly pursue a contract extension. Last season, winger Mikko Rantanen was traded twice and eventually signed an extension with the Dallas Stars after failing to gain traction with the Carolina Hurricanes.
Still, for the sake of argument, let’s run with the idea that a team could theoretically clear all the hurdles needed to acquire Panarin. His value to a potential team couldn’t be clearer, as he’s scored 202 goals and 600 points in 476 games throughout the duration of his contract with the Rangers, already climbing to ninth all-time on the franchise leaderboards.
Friedman thoroughly explained his reasoning behind Colorado, sharing that the Avalanche offered Panarin a four-year, $52MM ($13MM AAV) contract back in 2019. Although the Avalanche were ready to give Panarin nearly 16% of their available dollars at the time, they had not yet signed Nathan MacKinnon and Cale Makar to their high-priced extensions. Much has changed for Colorado since then.
In Florida, the only way the Panthers would be able to acquire Panarin without moving heaven and earth would be if the team were certain that Aleksander Barkov would not return for the playoffs this season. In an odd twist, that’s almost an argument as to why the Panthers shouldn’t pursue Panarin as a rental, given their chances of competing for a third consecutive Stanley Cup title without their captain.
Lastly, the connection to Minnesota and Washington is clear. Either destination would allow Panarin to play with another high-level countryman in Kirill Kaprizov or Alex Ovechkin. It’s important to remember that although the Rangers may not be inclined to move Panarin to a Metropolitan Division rival, they recently traded K’Andre Miller to the Hurricanes last summer.
Regardless, as much fun as it is to speculate on where Panarin could end up, there’s no guarantee he’ll even leave New York. However, given the complex nature of manufacturing a Panarin trade, the Rangers will have to make a decision sooner rather than later.
Photo courtesy of Wendell Cruz-Imagn Images.