The New York Rangers\' hopes of landing an elite free agent next summer took major hits with Connor McDavid and Jack Eichel both signing extensions this week. McDavid signed a two-year, $12.5 million AAV deal with the Edmonton Oilers on Monday, while Eichel inked an eight-year, $13.5 million AAV extension with the Vegas Golden Knights on Wednesday.
Kirill Kaprizov also stayed off the market by signing a historic eight-year, $17 million AAV contract with the Minnesota Wild. Kyle Connor re-signed with the Winnipeg Jets for eight years at $12 million AAV on Wednesday as well.
The Rangers will have approximately $20 million in cap space for next summer after accounting for restricted free agents and depth signings. General manager Chris Drury acquired J.T. Miller in January and hired coach Mike Sullivan, signaling a competitive window despite an aging core.
Three of New York\'s four highest-paid forwards whose contracts extend past this season are 32 years old: Miller, Vincent Trocheck and Mika Zibanejad. The team faces a difficult decision on pending UFA Artemi Panarin, who turns 34 this month and could be the top free agent available if he reaches the market.
The Rangers have 16 players under contract for 2026-27 costing $73.767 million combined. That leaves just over $30 million in space for approximately six roster spots before RFA signings.
Potential free agent targets could include Buffalo\'s Alex Tuch, Los Angeles\' Adrian Kempe, or Colorado\'s Martin Necas if they reach the market. The Rangers also hold two 2026 first-round picks as potential trade assets for restricted free agents or players from retooling teams.
New York\'s attempts to draft elite talent have fallen short despite recent top-10 picks. Alexis Lafrenière, Kaapo Kakko, Lias Andersson and Vitali Kravtsov were all selected in the top 10 over the past decade, but only Lafrenière remains with the team.