Rangers have another massive contract decision after Igor Shesterkin
It’s still down the road a bit, but the New York Rangers have a difficult decision to make on the not-so-distant horizon about a star player’s future with the organization. No, we’re not talking about Igor Shesterkin, set to be an unrestricted free agent next summer. Nor are Alexis Lafreniere and K’Andre Miller being referenced here, though each is a pending RFA with arbitration rights in 2025.
Those three contract negotiations are on the front burner for Rangers general manager Chris Drury. Especially Shesterkin’s deal, which could be the richest in NHL history for a goalie.
Yet a bit further into the future, Artemi Panarin can become a UFA after the 2025-26 season. Yes, that’s still two seasons away. So, there’s no reason to get lathered up just yet about whether or not the Rangers should re-sign Panarin, or how much it would cost to do so.
But it’s not insignificant.
Panarin is already the best free-agent signing in Rangers history. Perhaps only rivaled by the time they lured a young forward by the name of Adam Graves away from the Edmonton Oilers in another era of NHL free agency back in the summer of 1992.
Graves is now a Rangers legend, his No. 9 hanging from the rafters in Madison Square Garden. He scored 52 goals once and helped the Rangers win the Stanley Cup in 1994, ending a wicked 54-year championship drought. He had 507 points in 772 games with the Rangers.
But he’s no Panarin when it comes to production.
Since signing with the Rangers before the 2019-20 season, Panarin has 461 points in 350 games. That’s a ludicrous rate of 1.32 points per game over five seasons. Last season, Panarin averaged 1.46 points per game when he recorded 120 points (49 goals, 71 assists), second most for a single season in Rangers history and fourth most in the League.
Panarin was a Hart Trophy finalist as NHL MVP in the COVID-shortened 2019-20 season, when he finished with 95 points in 69 games. He’s had at least 92 points in each of his seasons on Broadway, excluding the truncated 2020-21 campaign, due to the coronavirus pandemic.
He’s, arguably, the most dynamic player in franchise history. Currently, Panarin ranks 16th all-time among Rangers scoring leaders, despite playing far fewer games than anyone ahead of him on the list. So, when he’s next up to be a free agent, it’s not a stretch to believe Panarin will be right near the top-5 leading scorers in Rangers history.
So, yeah, it’s worth at least ruminating on his free agency two years from now.
Related: Rangers takeaway for Igor Shesterkin contract after Leon Draisaitl’s massive Oilers deal
Rangers will have difficult decision to make when Artemi Panarin is free agent in 2026
Panarin’s been paid handsomely by the Rangers, to the tune of $11.64 million annually. And he’s been worth it, even if the Rangers have yet to win the Stanley Cup with him in the lineup.
But what will his worth, and asking price, be in 2026? Panarin will be 34 then, so this isn’t quite Shesterkin, now at age 28, looking to negotiate a long-term deal for, say, $12 per season. Panarin’s next contract should be shorter, though likely still expensive, because it’s easy to see him putting up gaudy numbers the next two seasons.
His AAV on that next deal should be less than it is now since he signed this contract in his prime. But it won’t be cheap. And the Rangers could instead look for a younger top-six wing to join the core. Or perhaps Gabe Perreault and/or Brennan Othmann emerges by then. Still, walking away from one of the greatest scorers in franchise history won’t be easy — especially if the Rangers continue to have postseason success and/or actually win the Stanley Cup in the next two years.
It’s all very speculative. Panarin could get hurt or his production could dip for other reasons, making it easier for the Rangers to move on from him in two years. But if Panarin maintains this kind of scoring pace, well, Drury has an extremely difficult decision to make — just as we pointed out at the beginning of this story.
For now, Drury’s main priority is to sign Shesterkin, the sooner the better. Then get deals done for Lafreniere, Miller and maybe even Ryan Lindgren next summer. But Panarin will be the next case of heavy lifting for Drury after the 2025 offseason. The not so distant future.
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