With the Chris Kreider trade behind them, the New York Rangers apparently are far from done retooling their roster before next season. In fact, dealing their longest-tenured player to the Anaheim Ducks on Thursday could very well be just the start to a very active offseason for the Rangers.
"They don't have a ton of [salary] cap room yet, but they seem to want everyone to realize they're prepared to be aggressive," NHL insider Elliotte Friedman stated on the latest 32 Thoughts podcast .
The Rangers do have more financial flexibility under the cap after offloading Kreider's entire $6.5 million annual salary the next two seasons to the Ducks in exchange for 20-year-old center prospect Carey Terrance and a swap of mid-round picks in the upcoming draft. That leaves the Rangers with roughly $15 million in salary cap space , though they're likely to make more moves in order to create extra room under the $95.5 million ceiling.
"Oh, I definitely feel that they're not done. Very clearly, they want people to know they're out there," Friedman said Thursday on The FAN Hockey Show. "(General manager) Chris Drury is not necessarily being that public about it, but everyone knows the Rangers are out there and they're not done yet."
Restricted free agents K'Andre Miller, Will Cuylle , Matt Rempe and Adam Edstrom need to be re-signed, so that cuts into how much the Rangers can spend on upgrading the roster this summer. The NHL rumor mill is churning, though, when it comes to Miller. The Rangers reportedly are listening to what they might be able to get in return for the polarizing 25-year-old defenseman.
"A couple of teams told me this, the reason why we are hearing a lot with Miller's name is that [the Rangers] don't want to give him term. They've indicated if they sign him to an extension, it's not a long-term extension, and that's why his name is out there," Friedman explained.
Friedman is more skeptical about rumors that the Rangers could move Alexis Lafreniere , who struggled this past season after he signed a seven-year, $52.15 million contract extension.
"Lafreniere, to me, is an interesting one," Friedman said about the 23-year-old forward. "That contract, if he even comes close to the level where he's capable of performing at, that's going to be a really good contract. So, I find that whole thing pretty interesting."
Lafreniere, of course did break out with 28 goals and 57 points in 2023-24 before regressing this past season. His $7.45 million cap hit fits snugly now, but will be less of a big deal when the salary cap increases significantly in 2026-27.
"Lafreniere, I'll tell you, I get pushback on it," the Sportsnet reported indicated. "If Lafreniere is available it's not widely known."
Related: Chris Kreider makes classy exit from Rangers, expresses 'gratitude for how I was treated'
J.J. Peterka of the Buffalo Sabres — Kyle Ross-Imagn Images
The Rangers aren't expected to be in on the top unrestricted forwards in free agency, Mitchell Marner and Sam Bennett , no matter how much money they free up before July 1. There are rumors linking New York to Los Angeles Kings UFA defenseman Vladislav Gavrikov , though.
Making hockey trades — not just ones to shed salary — are also options for Drury this summer. But what intrigues Friedman most is the possibility that the Rangers could target a desired restricted free agent, like Buffalo Sabres high-scoring forward J.J. Peterka, with an offer sheet.
"I think it's really interesting how the Rangers aren't really upset to have the words 'offer sheet' connected to them," Friedman explained. "Some teams really try to downplay that [possibility]; the Rangers don't seem to be that concerned about downplaying it. They want people to know that they're coming.
"One guy that the Rangers are believed to really like is Peterka. The Sabres have made it very clear that they're not interested in trading him. They prefer not to do it. Buffalo's got a ton of cap space, so you're looking at that and saying that in theory they could match no problem. But if you're serious about it, what do you do to make that harder?"
Friedman went on to explain that if the Rangers really wanted a certain RFA, they could include expensive bonuses in the offer, making it, theoretically, more difficult for a team to match.
"You can still put poison pills like signing bonuses in (a contract), and the Rangers have the financial ability to do that," he stated. "I think the Rangers do make teams nervous. We'll see if it's real or just a fake."
No matter what route Drury and Co. take, hockey people expect the Rangers to be among the busiest teams this offseason.
"They want to be aggressive. "
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