When Chris Drury explained why the New York Rangers put Gabe Perreault’s extension on hold, he may have left out an important detail. Indeed, the Blueshirts want to extend their most NHL-ready young talent, but they also face a dilemma, as re-signing Perreault to a big contract would go against something the current front office stands for.
“To give a long-term deal to a player in Perreault’s shoes would’ve gone against the Rangers‘ recent track record. The team historically prefers bridge deals,” Peter Baugh and Vince Mercogliano wrote on The Athletic.
Of course, that’s not something the Rangers will openly admit as part of the reasoning behind their decision, but it makes sense. New York passed on its last chance to ink Perreault to an eight-year deal before the Sept. 16 deadline under the Collective Bargaining Agreement (CBA) between the NHL and NHLPA.
In more ways than one, though, it was the right decision, and the Blueshirts are basically guaranteed to keep Perreault in the Big Apple. The catch is that it might come at a higher price, but with the salary cap rising, that may not be much of a headache, either.
Gabe Perreault #94 of the New York Rangers at Prudential Center.
Perreault isn’t a regular RFA
Once Perreault’s entry-level contract expires after the 2026-27 NHL season, he will become an RFA, but with an asterisk. That alone should be encouraging for New York, as it’s already rare for regular restricted free agents to sign with a different team than the one that drafted them. And even if the recent offer-sheet Leo Carlsson episode raised alarms, the Rangers have a luxury with Perreault, as he is offer-sheet exempt.
According to Puck Pedia, Perreault is among the players ineligible for an offer sheet, as he is a 10.2.c player without enough professional experience to be considered an RFA per se. When put together, it basically locks Perreault in New York. The only way he could leave Madison Square Garden is through a trade request. For the time being, it doesn’t look like that’s something that has even crossed Perreault’s or his camp’s minds.
However, if the Rangers remain firm on their price and Perreault isn’t in agreement, there’s no telling where it may all unfold. What’s clear is that the 21-year-old will enter a pivotal contract year with the Rangers. New York has made its decision not to extend Perreault before the puck drops, and anything can happen now.
Perreault’s next AAV is in his hands
Perreault can skyrocket his value, putting the Rangers at a crossroads where they must decide whether to go against their trend of settling for bridge contracts and pay Perreault the big bucks. Or Perreault may have a deflating year, which in turn would make New York’s wallet breathe a sigh of relief but be crushing for the team’s hopes and expectations for Perreault entering the 2026-27 NHL season.
In more ways than one, the table is set for a choose-your-poison scenario for the Rangers come the summer of 2027.
Key takeaways
- Gabe Perreault and Rangers missed a final opportunity to sign an eight-year deal before Sept. 16.
- As a 10.2.c player, Perreault remains exempt from offer sheets following his entry-level deal.
- The Rangers risk higher costs if Perreault increases his value before summer 2027.
