The New York Rangers have kept the star left winger Artemi Panarin out of the lineup while they look for the right trade partner.
The 2026 NHL Olympic trade freeze begins at 3:00 p.m. Eastern on Wednesday and runs through 11:59 p.m. Eastern on February 22, 2026. As a result, the Rangers are under pressure to finalize a Panarin trade before the freeze begins.
Panarin is entering the final year of his contract, which carries a $11.642 million average annual value, and he will be an unrestricted free agent. He is reportedly insisting that any trade include a contract extension. With trade rumors heating up ahead of the March 2026 deadline, several teams are in the race to acquire him and sign him long-term.
Panarin becomes eligible for unrestricted free agency on July 1 and has no interest in being moved as a short-term playoff rental. He also has a full no-movement clause in his contract, which gives him complete control over where, and if, he is traded.
Insiders say at least one team has offered Panarin a $40 million contract, per Chris Johnston on his show. That kind of offer might seem like the breakthrough Rangers fans have been waiting for, but it does not guarantee a deal, as Panarin is still aiming for a larger extension.
“I've heard at least one team has put $40M on the table for Panarin, but it's not until he signals to the Rangers that he's found that right situation for himself,” Johnston said.
"I've heard at least one team has put $40M on the table for Panarin, but it's not until he signals to the Rangers that he's found that right situation for himself" #NYR pic.twitter.com/XOrNU1IJsv
— David 🏒 (@DaveyUpper) February 3, 2026
However, several reports around the league say he is seeking closer to $50 million, and that difference could quickly stall trade talks.
Elliotte Friedman: Re Artemi Panarin: San Jose, if he's willing to extend there and they're willing to make an extension that he likes; I've heard that the goal here is in the 50 million dollar range, however people want to slice it up – FAN Hockey Show (1/29)
— NHL Rumour Report (@NHLRumourReport) February 2, 2026
The 34-year-old's camp can hold out if the length and salary of a deal don’t meet their expectations, and the Rangers cannot force a trade because he has full control with his no-movement clause.
If Panarin continues to target a $50 million extension, some contenders may hesitate, leaving the Rangers stuck with him through the trade freeze.
Panarin has played in 52 games this season, recording 19 goals and 38 assists for a total of 57 points. He finished the 2024-25 season with 89 points in 80 games, and the year before, he had 120 points in 82 games. During the 2019-20 season, Panarin was a Hart Trophy finalist, scoring 95 points in just 69 games.
Meanwhile, the next few hours will determine whether New York makes a move or if everyone ends up waiting until the trade freeze is over.
