NHL News: NY Rangers, Mike Sullivan urged to reach Artemi Panarin extension before he hits free agency

The New York Rangers and Mike Sullivan find themselves at a crossroads with one of the franchise’s most impactful players in recent memory. As Artemi Panarin enters the final year of his seven-year, $81.5 million contract, questions swirl around whether the club will secure his services long term—or explore more drastic options.

Panarin, 33, has been a cornerstone since his arrival in 2019, delivering elite-level offensive production and playing a key role in lifting the Rangers from a rebuilding phase to perennial playoff contention.

“Is Artemi Panarin one of the best free agent signings of all time?” asked NHL insider Frank Seravalli, speaking to B/R Open Ice. “If you look at his contract, his AAV, his production, and how he lifted the New York Rangers… it fit their cap picture.”

Rangers must decide before 2025 trade deadline

Seravalli emphasized that the ideal outcome would be a contract extension that satisfies both Panarin and the organization before he reaches unrestricted free agency next summer. Should that not materialize, the Rangers face a difficult decision: trade Panarin ahead of the deadline or risk losing him for nothing in the offseason.

Artemi Panarin #10 of the New York Rangers takes a second period shot against the Nashville Predators at Madison Square Garden on March 02, 2025 in New York City. (Photo by Bruce Bennett/Getty Images)

While Panarin has voiced no public displeasure, the lack of clarity could force the club into action. Whether the franchise opts for a shorter-term deal that gives the Russian winger flexibility, or a longer, lower-AAV contract that keeps him in New York through the end of his career, remains to be seen.

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NHL News: Mike Sullivan and the Rangers may be close to a final resolution on Artemi Panarin’s contract situation

Panarin remains a vital part of the Rangers’ core

Despite the contractual uncertainty, Panarin remains one of only three players considered untouchable by the Rangers, as reported earlier this summer by Arthur Staple of The Athletic. That status, however, doesn’t guarantee a new deal—especially if front office priorities shift during the NHL season.