Overview
- New York is holding Panarin out for asset protection and, per multiple outlets, he is expected to sit through the Feb. 4–22 Olympic roster freeze and has likely played his last game as a Ranger.
- Panarin, 34, is a pending UFA with an $11.6 million cap hit and a full no‑movement clause, and TSN reporting says he wants an extension in place before approving any trade.
- The Rangers have permitted his representatives to speak with interested clubs about an extension, and sources indicate the team could retain salary but still seeks a first‑round pick plus a top prospect or young roster player.
- Reporting outlines an evolving market with several teams in the mix; updates note Washington is exploring an extension, San Jose has inquired and could discuss term, Anaheim is considered unlikely, and some cap‑tight contenders are backing away.
- This move follows GM Chris Drury’s stated retool plan and a recent Carson Soucy trade, with key dates now driving talks toward the March 6 deadline after the Olympic freeze.