The New York Rangers have made a significant move by locking in 2020 first-overall pick Alexis Lafrenière with a seven-year contract extension, carrying an average annual value (AAV) of $7.45 million. First reported by PuckPedia and later confirmed by Vince Mercogliano, this deal solidifies Lafrenière’s future in New York and demonstrates the organization’s faith in the 22-year-old forward, who posted 57 points in 82 games last season, with an impressive 51 of those points coming at even strength.
Securing Lafrenière at this price is a savvy move for the Rangers, as insiders like Frank Seravalli previously indicated the young star might have commanded more than $8 million annually. The contract leaves New York with approximately $25 million in cap space, crucial funds that will be needed to re-sign key players like Igor Shesterkin and K’Andre Miller, along with filling another seven to eight roster spots. However, with limited cap space remaining after securing those contracts, Lafrenière’s deal is a valuable piece for the Rangers’ cap flexibility in building a long-term contender.
Lafrenière’s Breakout Year and Continued Impact
After recording 21, 31, and 39 points in his first three seasons, Lafrenière took a significant leap forward last season, thriving on a line with Artemi Panarin and Vincent Trocheck. His breakout season saw him net 57 points, including 51 at even strength, and that momentum has carried into the new season, where he’s tallied seven points in seven games—all at even strength. Lafrenière is quickly emerging as a star in the NHL, and his new contract extension looks like an absolute steal.
As the salary cap rises, this deal—already below market value—will continue to benefit the Rangers by taking up a smaller percentage of their cap each season, giving New York valuable flexibility to build around him and their core talent.
Managing Expiring Contracts and Cap Flexibility
The Rangers have 10 players on expiring contracts this season, including key figures like Shesterkin and Miller. Additionally, several pending unrestricted free agents—Reilly Smith, Ryan Lindgren, Jonathan Quick, and Jimmy Vesey—and pending restricted free agents—Kaapo Kakko, Adam Edstrom, Will Cuylle, and Zac Jones—will be up for renewal. Lafrenière’s decision to accept $7.45 million per year gives the Rangers a valuable edge in managing these signings. With this extra cap space, the team gains flexibility to retain an important piece from this group who might otherwise be out of reach or even pursue budget-friendly free agents like they did with Jimmy Vesey or Sam Carrick. Ultimately, Lafrenière’s team-friendly contract opens the door for New York to strategically build a more balanced and competitive roster around their emerging young talent.
Future Cap Challenges and Potential Roster Moves
As the Rangers think about the 2025 offseason, two major questions loom in Miller and Shesterkin’s future contracts. Shesterkin, having already turned down an eight-year extension with an $11 million AAV, is likely to command a premium, while Miller—though no contract talks have been reported—will also require a significant investment, with projections in the $5.5 to $6.5 million range. If both players secure high-end deals, the Rangers will be left with only about $6.5 million to round out their roster depth.
Related: Rangers Sign Alexis Lafreniere to 7-Year Extension
This tight cap space could force New York into difficult decisions, especially regarding players like Kakko, whose contract expires after this year, and Cuylle, who has had a strong start and could earn more than initially anticipated. Without shedding a substantial contract—like that of Jacob Trouba—the Rangers may struggle to retain their young talent. As it stands, Trouba appears to be the most viable option for a potential salary-cutting move, giving the Rangers a way to maintain roster flexibility and stay competitive in a rising salary-cap environment. While moving a major contract such as Trouba’s might seem like a logical way to create cap space, the Rangers may be hesitant to part with their captain. Trouba has shown a marked improvement over last season. His enhanced performance makes him even more integral to the lineup, adding another layer of complexity to any potential cap-clearing moves.
The Road Ahead for the Rangers and Lafrenière
Lafrenière’s new contract is a smart, team-friendly deal that solidifies his role in the Rangers’ future and provides critical cap flexibility. With Shesterkin, Miller, and other key players needing new deals soon, New York will need to carefully manage its cap space to keep its young core intact. While difficult choices lie ahead, securing Lafrenière at this price strengthens the Rangers’ foundation and sets them up to stay competitive as they build toward long-term contention.
