The New York Rangers have reached a defining moment with Artemi Panarin, and the organization’s recent decisions suggest the endgame is approaching. As the NHL season unfolded and postseason hopes faded, New York began prioritizing long-term flexibility over short-term results.
Panarin has not been on the ice, a move rooted in roster management rather than health concerns. With the Olympic break and trade deadline looming, the Rangers are protecting their most valuable asset, fully aware that any setback could complicate what is shaping up to be one of the league’s most significant trades.
That reality was underscored when NHL insider Elliotte Friedman addressed Panarin’s situation, signaling that his future hinges not just on a trade package, but on a major financial commitment. “That’s the big one. Artemi Panarin. The big fish we’re all kind of looking at here as we inch forward to the trade deadline,” Friedman said on the 32 Thoughts Podcast.
Despite the Rangers sitting at the bottom of the Eastern Conference, Artemi Panarin continued producing at an elite level, leading the team with 57 points in 52 games.
Artemi Panarin #10 of the Rangers in action during the 2026 Discover NHL Winter Classic game. Carmen Mandato/Getty Images
How much control does Panarin’s camp really have?
Panarin’s full no-movement clause gives him total authority over any destination, but Friedman emphasized that his representation has been just as influential. Agent Paul Theophanis has made it clear that his client will not accept a rental situation.
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“The agent is driving a lot of this bus,” Friedman explained. “He doesn’t want to go twice. He only wants to go once.” That stance forces interested teams to line up a long-term extension before Panarin even considers waiving his clause.
Contract benchmark emerges
Friedman revealed that while contract specifics vary by team, one number keeps resurfacing in discussions. “The number I was hearing, and a few teams backed me up on this, was $50 million,” he said.
SurveyShould a contender commit long-term money to acquire Artemi Panarin at the trade deadline?
Should a contender commit long-term money to acquire Artemi Panarin at the trade deadline?
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As the deadline nears, Panarin’s situation stands as one of the most consequential storylines in the NHL—one that could reshape the playoff landscape and redefine the market for elite veteran scorers.
