The Edmonton Oilers have been playing solid hockey and seem poised to make a deep run into the playoffs, but they seem to be a couple of pieces away from being considered the favourites to win the Stanley Cup this season. They swung on a big name last season, when they tried to acquire and extend Mikko Rantanen, and they may try to swing on another superstar this time around. With the 2026 Trade Deadline approaching, there is a possibility they try to target Artemi Panarin.
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The New York Rangers reportedly told Panarin they weren’t going to offer him an extension, and the expectation is that he will be moved by the trade deadline. While his massive cap hit makes him tough to move, the Oilers have the assets to make a deal work, and it wouldn’t be surprising to see them try to take a swing at him.
In this article, we take a look at a mock trade between the Oilers and Rangers involving Panarin. Keep in mind, this is just a hypothetical idea, and there is no report connecting the two teams right now. The fit makes sense, but there is no indication that the Oilers have checked in with the Rangers regarding Panarin.
Oilers Land Panarin, Rangers Get Prospect & Picks
Two big things would need to happen for the Oilers to be able to land Panarin. First, he has a full no-movement clause, which he would have to waive to join the Oilers. Second, the Rangers would have to be willing to retain half of his contract to be able to move him. If those two things can get dealt with, things get less tricky.
The Oilers would then need to get some money off the books. The two obvious candidates are Andrew Mangiapane, who makes $3.6 million, and Calvin Pickard, who makes $1 million. Even then, the Oilers would still need to clear up some extra money, and while trading Mattias Janmark or Kasperi Kapanen could give them the space they need, they would have much more flexibility if they were able to trade Adam Henrique, who makes $3 million.
Henrique, who has missed some time with an injury, seems to be somebody who won’t have a role when he returns to the lineup. Curtis Lazar has played well in a depth role as the Oilers’ fourth-line centre, and the team seems to play stronger with Henrique out of the lineup, and Lazar is a more cost-effective option. If Henrique is willing to waive for another contender, and the Oilers also move Mangiapane and Pickard, they will have cleared $7.6 million in cap space.
Realistically, if the Oilers can figure all of that out, they could acquire Panarin at half retention in exchange for Beau Akey and a conditional 2027 first-round pick.
The return seems underwhelming, but the reality is that Panarin holds all the leverage and can choose where he wants to go. He could give the Rangers a list of teams and create a bit of a bidding war, but it’s fair to assume he wants to go to a team that gives him the best chance of winning a championship, and the Oilers do that.
With half retention, the Oilers would only be on the hook for $5,821,429 of Panarin’s contract. They have the future cap space to work on an extension as well, but landing a superstar like Panarin as a rental would be a positive in itself.
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