Why Rangers reportedly at standstill in contract talks with star forward
Artemi Panarin is the best free agent signing in the history of the New York Rangers. But whether he’ll be back next season is an open question, especially with talks about a new contract reportedly going nowhere fast.
The seven-year, $81.5 million contract ($11.642 million average annual value) Panarin signed on July 1, 2019, ends after this season. According to Sportsnet’s Nick Kypreos, who wrote about Panarin’s situation in his latest “Real Kypers” column, the 34-year-old forward made clear to the Rangers that he won’t accept a reduction from his current salary in any new contract.
That reportedly has effectively halted all contract talks at this stage of negotiations.
“The pending UFA has made it clear to the Rangers that he is not interested in a pay cut,” Kypreos said. “That has shut down any chance of negotiations. The Rangers don’t want him at that same rate again.”
At one time, the free agent class of 2026 looked like it would be a happy hunting ground for teams seeking to add top-level free-agent scorers. But big stars like Connor McDavid (Edmonton Oilers), Kirill Kaprizov (Minnesota Wild), Jack Eichel (Vegas Golden Knights), Kyle Connor (Winnipeg Jets) and Martin Necas (Colorado Avalanche), each of whom could have become free agents on July 1, re-signed with their teams.
Despite his advanced age, that leaves Panarin at the head of a thinning class, with forwards Adrian Kempe (Los Angeles Kings) and Alex Tuch (Buffalo Sabres) a level or two below.
Rangers and Artemi Panarin reportedly at odds on new contract
Complicating matters is that Panarin is off to his worst start in seven seasons with the Rangers. He’s managed just seven points (two goals, five assists) in 14 games, and is pointless in his past six. Panarin recorded four points against the Montreal Canadiens on Oct. 18, meaning he has points in just four of 14 games.
Panarin’s struggles mirror that of the team; the Rangers average the fewest goals per game (2.21) in the entire NHL.
That’s a big reason why the Rangers are the only team in the League without a win on home ice (0-5-1). They’ve scored six goals in six games at Madison Square Garden, only one by Panarin. The Rangers just lost 3-0 to the Carolina Hurricanes on Tuesday, the fourth time they’ve been blanked at MSG already.
However, Panarin entered 2025-26 having led the Rangers in scoring in each of his six seasons on Broadway. Even including his slow start this season, he has 557 points (188 goals, 369 assists) in 444 regular-season games with them. Panarin scored at least 89 points in all five non-COVID seasons, was named a First-Team All-Star twice and has the highest points-per-game average in franchise history (1.25).
Of course, the rub is that his postseason numbers are nowhere near his regular-season production. Panarin has 35 points (12 goals, 23 assists) and is minus-12 in 46 Stanley Cup Playoff games with New York, a per-game point average of 0.76.
Panarin’s status leaves Rangers general manager Chris Drury somewhat limited in making roster decisions and planning for the future. The Rangers have less than $3 million in current cap space, according to Puckpedia, and already committed more than $75 million of the expected $104 million salary cap for 2026-27.
Pierre LeBrun of The Athletic reported that though the Rangers appreciate Panarin, they haven’t entered significant talks about an extension. However, the Rangers reportedly aren’t shopping him, and he’s not enamored about the idea of a move.
“I don’t get the sense he wants to leave New York at all for now,” Kypreos added.
So what are the alternatives?
If he and the Rangers don’t find some common ground, Panarin might be content to play out the final season of his contract on Broadway and test the free-agent market next summer, when he’d likely be the best offensive player on the market, even as he approaches his 35th birthday.
Buti f the Rangers look like their going to miss the playoffs, Drury could approach Panarin about a trade – Kypreos said the Hurricanes and Minnesota Wild expressed interest already.
Either way, Panarin would help himself and the Rangers by starting to pile up points the way he did in his first six seasons on Broadway.
