Artemi Panarin's contract with the New York Rangers is set to expire after the 2025-26 season, making him an unrestricted free agent. As the expiration date approaches, the Rangers face a crucial decision about his future with the team. While Panarin has been a consistently productive player, there are compelling reasons why the Rangers should hold off on rushing to extend his contract.

Panarin, who will turn 34 in October, is currently on a seven-year, $81.5 million contract with an average annual value of $11.642 million. While he remains a top point-getter in the NHL, age is a significant factor to consider when contemplating a long-term extension. The Rangers must assess whether Panarin's production will continue at an elite level as he gets older, or if a decline is inevitable.

In the 2023-24 season, Panarin had a career-best performance, tallying 120 points. However, his production dipped in the 2024-25 season, with 89 points in 80 games. While 89 points is still a respectable number, it marked his lowest point total since joining the Rangers, excluding the COVID-shortened season. This raises concerns about whether his previous peak was an outlier or whether the dip indicates the start of a downward trend.

Another factor to consider is Panarin's performance in the playoffs. While he has been productive in the regular season, his performance in the playoffs has been less impactful. Over 46 playoff games with New York, Panarin has averaged fewer points compared to his regular season average. This is a cause for concern as the Rangers aim to build a team that can contend for the Stanley Cup.

Off-ice issues have also cast a shadow over Panarin's tenure with the Rangers. Allegations of sexual assault surfaced in 2023, leading to settlements with a former employee. Although the NHL investigated the matter and deemed it "closed," the incident remains a red flag for the Rangers.

Given these considerations, the Rangers should resist the urge to rush into extending Panarin's contract. Instead, they should use the 2025-26 season to evaluate his performance, assess his fit within the team's long-term plans, and consider all available options.

The Rangers' President and General Manager, Chris Drury, has already demonstrated a willingness to reshape the team's core, as evidenced by the trades involving veteran players. This suggests that Drury is not afraid to make tough decisions in the best interest of the team's future.

Several possible paths exist for the Rangers:

1. Extend Panarin: The Rangers could offer Panarin a short-term deal with a slightly reduced salary. However, this would depend on his performance in the upcoming season and whether the team believes he can continue to be a key contributor.
2. Trade Panarin: The Rangers could trade Panarin to recoup assets and potentially acquire younger players who better fit their long-term vision. This would be a difficult decision, as Panarin is still a valuable player, but it could be a strategic move for the future.
3. Let Panarin Walk: The Rangers could allow Panarin to become a free agent after the 2025-26 season. This would free up cap space and allow them to pursue other players who may be a better fit for the team's long-term goals.

Ultimately, the Rangers' decision on Artemi Panarin's future will have a significant impact on the team's competitiveness and trajectory for years to come. By exercising patience and carefully evaluating all factors, the Rangers can make an informed decision that aligns with their long-term goals.