When the New York Rangers announced they would be sitting Artemi Panarin for “roster management”, the expectation was the pending UFA would be traded before the NHL Olympic roster freeze goes into effect.
Since that happens later today — Wednesday, February 4 at 3p ET — there’s a chance that the “Breadman Drama” might extend to the actual NHL Trade Deadline on Friday, March 6 at 3p ET.
In this rant, we project the type of package the Rangers can expect to receive for Panarin. But first, let’s look at who’s interested, who might be willing to give him the extension he desires, and comparable past trades.
WHO IS INTERESTED
The crack SRNY intern staff just spent 90 minutes researching reports from NHL insiders Elliotte Friedman (Sportsnet), Emily Kaplan (ESPN), Jeff Marek (Daily Faceoff), and Kevin Weekes (ESPN: NHL Network).
As a result, we’ve compiled a whopping list of 17 teams that have reportedly shown interest in the Rangers superstar. That includes five of the six teams based in states that do not have state income taxes.
- Anaheim Ducks
- Carolina Hurricanes
- Colorado Avalanche
- Dallas Stars (Tax Free State)
- Detroit Red Wings
- Edmonton Oilers
- Florida Panthers (Tax Free State)
- Los Angeles Kings
- Tampa Bay Lightning (Tax Free State)
- San Jose Sharks
- Washington Capitals
- Minnesota Wild
- New York Islanders
- Seattle Kraken (Tax Free State)
- Toronto Maple Leafs
- Utah Mammoth
- Vegas Golden Knights (Tax Free State)
WHO IS WILLING TO GIVE PANARIN AN EXTENSION?
According to those same insiders, Panarin’s camp wants an extension in place before waiving his no-movement clause. It is believed that Panarin’s agent Paul Theofanous is telling teams that they want $50m in total value — with flexibility on term and AAV.
Reportedly, these are the teams most likely to provide an extension — Carolina Hurricanes, Detroit Red Wings, Florida Panthers, Los Angeles Kings, Tampa Bay Lightning, San Jose Sharks, and the Washington Capitals.
TRADE COMPS
Three recent trades offer clear benchmarks for a Panarin deal.
Claude Giroux — Comp Trade #1
Claude Giroux was a 34-year-old pending UFA when he told the Philadelphia Flyers he would only accept a trade to the Florida Panthers. That mirrors Panarin’s age and contract status. The key difference is that Giroux’s production was never at Panarin’s level, and he was already slowing down prior to the deal.
On March 19, 2022, the Philadelphia Flyers traded Clade Giroux, Connor Bunnaman, German Rubtsov, and a fifth-round draft pick to the Florida Panthers for Owen Tippett, a first-round draft pick (top 10 protected), and a third-round draft pick.
At the time of the trade, Tippett had 77 NHL games under his belt. The now 26-year-old has settled in as a 20+ goal, 50 point forward for the Flyers.
Giroux was not retained by the Panthers.
Brock Nelson — Comp Trade #2
It has been reported that Rangers GM Chris Drury wants a similar return to this deal.
Brock Nelson was 33 years old and also a pending UFA when he was dealt to the Colorado Avalanche. While his production falls short of Panarin’s, he’s a two-way center that was coming off of three consecutive 30+ goal seasons.
On March 6, 2025, the New York Islanders traded pending UFA Brock Nelson, and William Dufour to the Colorado Avalanche for Calum Richie, Oliver Kylington, a first-round draft pick (top 10 protected), and a third-round draft pick.
Calum Ritchie, 21, entered the season as the Islanders’ fourth-ranked prospect according to The Athletic. The centerman has 15 points through the first 40 games of his rookie year. Kylington was included for salary cap purposes and was released by the Islanders.
On June 4, 2025, Colorado gave Nelson a 3-yr, $22.5m contract extension.
Mikko Rantanen — Comp Trade #3
In terms of talent and production, this is the best comparison as both Mikko Rantanen and Panarin are perennially near the top of the league in scoring. The key difference is that Rantanen was six years younger when this trade was made.
On March 7, 2025, the Carolina Hurricanes traded pending UFA Mikko Rantanen to the Dallas Stars for Logan Stankoven, two first round draft picks (each with top 10 protection), and two third round draft picks.
Similar to Tippett, Stankoven has 83 NHL games under his belt with the Stars. The now 22-year-old is playing second line center for Carolina, putting up 25 points in 55 games.
Dallas only completed the deal after agreeing to give Rantanen an 8-yr, $96m extension.
WHAT WILL THE RANGERS GET FOR ARTEMI PANARIN
Panarin’s age is closer to Giroux and Nelson, his production is closer to Rantanen, and his agent’s leverage is closer to Giroux and Rantanen.
The end result is that I project a return that falls between the Giroux/Nelson and Rantanen precedents — that likely includes the following:
- A young, current NHL player who was a former premium draft pick.
- A young bottom 6 forward or bottom pair defense prospect.
- A top 10 protected first round draft pick.
- A second-round draft pick.
Mock Trade with the Carolina Hurricanes
Rangers receive RW Jackson Blake (22), LW Bradly Nadeau (20), Carolina’s rights to the Dallas Stars 2026 first-round, plus the Hurricanes’ 2027 third-round pick in exchange for Panarin.
Mock Trade with the Detroit Red Wings
Rangers receive C Marco Kasper (21), C/W Emmitt Finnie (20), Detroit’s top 10 protected 2026 first-round pick (rolls to unprotected in 2027), plus the Red Wings’ 2027 third-round pick in exchange for Panarin.
Mock Trade with the Florida Panthers
Rangers receive C Anton Lundell (24), C Luke Kunin (28), Florida’s top 10 protected 2028 first-round pick (rolls to unprotected in 2029), plus the Panthers’ 2027 fourth-round pick in exchange for Panarin and Sam Carrick.
Mock Trade with the Los Angeles Kings
Rangers receive RW Liam Greentree (19), G Erik Portillo (24), C Alex Turcotte (24), Los Angeles’ top 10 protected 2027 first-round pick (rolls to unprotected in 2028), plus the Kings’ rights to the Columbus Blue Jackets 2026 second-round pick in exchange for Panarin, Carrick, and Jonathan Quick.
Mock Trade with the Tampa Bay Lightning
Rangers receive C Conor Geekie (21), RW Ethan Gauthier (21), F Oliver Bjorkstrand (30), Tampa Bay’s top 10 protected 2028 first-round pick (rolls to unprotected in 2029), plus the Lightning’s 2026 second-round pick in exchange for Panarin and Taylor Raddysh.
Mock Trade with the San Jose Sharks
Rangers receive LW William Eklund (23), D Sam Dickinson (19), plus San Jose’s rights to the Edmonton Oilers 2026 first-round pick in exchange for Panarin and Urho Vaakanainen.
Mock Trade with the Washington Capitals
Rangers receive RW Ryan Leonard (21), Washington’s top 10 protected 2027 first-round draft pick (rolls to unprotected in 2028), plus the Capitals’ rights to the Vegas Golden Knights 2026 fourth-round pick in exchange for Panarin and Taylor Raddysh.
ICYMI: “New York Rangers Live Trade Bait & Trade Tracker”