Panarin Turns Down Rangers’ Offer as Contract Standoff Begins to Take Shape
New York Rangers fans face uncertainty as star winger Artemi Panarin has reportedly declined a contract extension offer from the team, signaling the start of what could be a tense negotiation period. With Panarin entering the final year of his current seven-year, $81.5 million contract, the stakes are high for both the player and the organization.
Panarin's current contract, signed in July 2019, carries an average annual value of $11.64 million. The deal made him one of the league's highest-paid forwards and reflected his importance to the Rangers' offense. Now, as he approaches unrestricted free agency in July 2026, the question is whether he will remain in New York.
According to Sportsnet's Elliotte Friedman, the Rangers approached Panarin's camp with a proposal for a "team-friendly" deal. The concept, as Friedman described it, was for Panarin to follow the example of Anze Kopitar of the Los Angeles Kings, who accepted a lower salary to help his team maintain financial flexibility. However, Panarin was "unswayed by the offer".
Rangers' President and General Manager Chris Drury has publicly acknowledged Panarin's significance to the team. "He's a huge piece of our team and our organization," Drury said, while also noting that he doesn't publicly discuss contract negotiations. This stance leaves fans and analysts to speculate on the direction of the negotiations.
Several factors could be influencing Panarin's decision. At 33 years old, this next contract could be his last major payday. He has consistently led the Rangers in scoring and is considered their primary offensive catalyst. Since joining the team in 2019, Panarin has amassed 550 points (186 goals, 364 assists) in 430 games, a testament to his offensive prowess. Only Connor McDavid, Leon Draisaitl, and Nathan MacKinnon have recorded more points in that time.
The evolving landscape of the NHL may also play a role. Recent contract extensions signed by other star players, such as Connor McDavid, Kirill Kaprizov and Jack Eichel, have raised the bar for top-end talent. With Kaprizov's deal reportedly carrying an average annual value of $17 million, Panarin may be looking for a similar reflection of his value.
The Rangers' perspective is complicated by their own salary cap considerations and the need to build a competitive roster. A "team-friendly" deal for Panarin would provide more financial flexibility to address other needs, such as bolstering their defense or adding depth to their forward lines. However, losing Panarin would create a significant void in their offense that would be difficult to fill.
As the 2025-26 season approaches, all eyes will be on Panarin and the Rangers' front office. The outcome of these negotiations will not only determine Panarin's future but also significantly impact the Rangers' competitiveness in the coming years. Whether they can bridge the gap and reach an agreement remains to be seen, but the initial rejection suggests a challenging road ahead.
