Why New York Rangers are holding off on Artemi Panarin contract extension

New York Rangers appear to be taking a cautious approach when it comes to superstar winger Artemi Panarin’s contract situation. Despite his proven track record as one of the team’s most productive players, the Rangers are reportedly in “no hurry” to begin extension talks, according to Pierre LeBrun of The Athletic.

A cautious approach amid early-season uncertainty

Panarin, 34, is entering the final year of his seven-year, $81.5 million deal signed after the 2018–19 season. He remains under contract until July 1, but the Rangers’ front office seems content to wait before initiating negotiations. As LeBrun explained, the organization is prioritizing stability under new head coach Mike Sullivan before making long-term commitments.

“The New York Rangers have a ton of respect and appreciation for what Artemi Panarin has done for them, and that’s not to say it won’t continue past this season,” LeBrun reported. “But for the moment, my sense of the situation is that it’s very early in the season under new head coach Mike Sullivan, the Rangers want to see how things go and therefore are not in a hurry to get going more seriously on talks to extend the pending UFA winger.”

Panarin’s slow start and the team’s mixed results

While Panarin has led the Rangers in points every season since joining the team, his start to the 2025 campaign has been below expectations. With just seven points in 12 games and four consecutive scoreless outings, the star winger is still adjusting to Sullivan’s new system. Meanwhile, the Rangers have opened the season with a 5-5-2 record, adding another layer of uncertainty to the decision-making process.

The financial factor: Rising cap and age considerations

The NHL’s salary cap is expected to rise to $104 million next season, and Artemi Panarin’s next deal could exceed his current $11.642 million AAV, making him one of the highest-paid players in the league. However, with comparable players like Martin Necas and Logan Cooley recently signing lucrative long-term extensions, the market for elite forwards has grown increasingly expensive.

Adding to the complexity, Panarin’s age means this is likely his final long-term contract. As LeBrun noted, term could become a sticking point in future negotiations.

“If and when those talks get going again in a meaningful way, term may be the issue,” he reported. “Panarin turned 34 on Thursday. I don’t think he’ll be open to a short-term deal, which would probably be the Rangers’ preference.”

The agent factor

Represented by Paul Theofanous, who is known for his aggressive negotiating tactics, Artemi Panarin will likely aim to maximize both salary and term on his next deal. Theofanous previously secured significant raises for clients like

Kirill Kaprizov, suggesting a similar hardline approach could complicate negotiations with the Rangers.
For now, New York is taking the wait-and-see route — focusing on on-ice performance and team chemistry before deciding the fate of one of its most dynamic stars.