It’s the question no one in the New York Rangers front office wants to answer publicly, but one that’s starting to echo through the halls of Madison Square Garden and across the NHL. Artemi Panarin, the offensive wizard and arguably the best free-agent signing in the team’s storied history, is entering the final year of his contract. So, where are the extension talks? According to veteran Rangers insider Larry Brooks, they haven’t even started.
This isn’t just offseason chatter. This is a legitimate red flag. Panarin has been the team’s leading scorer every single year he’s worn the Blueshirt. He’s a perennial Hart Trophy candidate who has somehow gotten better in his 30s. The idea of him hitting the open market next summer should send a shiver down the spine of every Rangers fan. So, what’s the holdup? Is it money? Age? Or is something else going on behind the scenes that could see the “Breadman” buttering his toast in a different city come 2026? We’re diving deep into the speculation.
Cracking the Code on Panarin’s Contract Situation
Let’s be clear: Larry Brooks, one of the most respected voices on the Rangers beat, isn’t just stirring the pot for fun. When he points out that the team hasn’t engaged with Panarin’s camp, it’s a signal. The official line might be “there’s plenty of time,” but in the world of NHL contracts, time is a commodity that evaporates quickly. Panarin isn’t just another player; he’s been the offensive engine of this team since the day he arrived. Since 2019, only three players in the entire league have put up more points. Think about that. He’s the heartbeat of the power play, the guy you look to for a spark, and he’s consistently delivered.
So what’s the holdup? From where I’m sitting, it’s not about the money, at least not in the traditional sense. The Rangers have a projected $29 million in cap space for the 2026-27 season. Even with Braden Schneider needing a new deal, there’s more than enough room to get a deal done. In fact, you could argue Panarin might even take a slight haircut from his current $11.6 million AAV to stay on a contender.
The real question is about term and philosophy. Does GM Chris Drury want to commit, say, four more years to a player who will be 34 when the deal kicks in? Brooks’ suggestion of a four-year extension seems like a logical middle ground, but the longer this drags on, the more leverage Panarin’s agent gains. Every goal he scores next season, every game he wins for them, adds another dollar to the asking price and fuels more Artemi Panarin news and speculation. If this gets to the trade deadline without a resolution, the circus will officially be in town. The Rangers can’t afford to lose him for nothing, but they also can’t afford a messy, public contract dispute with their biggest star. This is a delicate dance, and right now, the music hasn’t even started.
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