The New York Rangers made two big moves after a poor stretch of play that resulted in five consecutive losses. On Dec. 6, they traded captain Jacob Trouba to the Anaheim Ducks in exchange for Urho Vaakanainen and a fourth-round pick. Later in the day, they signed star goalie Igor Shesterkin to an eight-year, $92 million extension. The moves have drastically changed the team’s salary cap situation and they will have a big impact on both the short-term and long-term future of the Blueshirts.
What the Trouba Trade Means for the Rangers’ Cap Situation
Ahead of the 2019-20 season, the Rangers acquired Trouba from the Winnipeg Jets in exchange for Neal Pionk and a first-round pick. They then signed him to a seven-year, $56 million contract. He played very well in 2021-22, finishing with 11 goals and 28 assists in 81 games but he struggled last postseason and this season. With the team needing to create cap space to re-sign Shesterkin as well as some of their other key young players it made sense to trade the 30-year-old defenseman.
Related: Ducks Acquire Trouba From Rangers in Exchange for Vaakanainen, 4th-Round Pick
While the return of a fourth-round pick and Vaakanainen may seem underwhelming, the Ducks are paying the entire remainder of Trouba’s contract which is key for the Rangers. Vaakanainen is signed to a one-year, $1.1 million contract so the move gives the Blueshirts a lot more financial flexibility.
Though head coach Peter Laviolette shuffled the defense pairs during the Rangers’ recent slump, Trouba ended up playing on the team’s second pair alongside K’Andre Miller and he was also an important penalty killer. Following the trade, the team called up rookie Victor Mancini from the Hartford Wolf Pack of the American Hockey League (AHL.) He played on the right side of the third defense pair with Zac Jones even though he is a lefty, and played well during the team’s 4-2 win against the Pittsburgh Penguins on Dec. 6. Vaakanainen is currently on injured reserve.
Ideally, Mancini will continue to play well and cement his spot in the lineup, but the Rangers could be in trouble if any defensemen have to miss time injured. Veteran blueliner Chad Ruhwedel provides some depth but he has played in just one NHL game this season. The cap space the team now has from the Trouba deal makes it a lot easier to trade for a defenseman on an expiring contract this season but it makes sense to wait until closer to the trade deadline.
The NHL trade deadline is March 7, and if the Rangers wait until right before the deadline to make trades, they could take on multiple players on expensive contracts that end after this season. If the team plays poorly and falls out of the playoff mix, they can also look to acquire draft picks and prospects by trading some of their own veterans and taking on the expiring contracts of struggling players.
What Shesterkin’s Extension Means for the Rangers
While the Rangers now have a lot of cap room this season, Shesterkin’s contract extension is a big commitment for the next eight seasons. His cap hit for this season is just under $5.7 million and that number will move up to $11.5 million starting next season. The contract means the Blueshirts have to be cautious about trading for players at the trade deadline who are signed beyond this season.
Both 26-year-old defenseman Ryan Lindgren and 33-year-old winger Reilly Smith are set to become unrestricted free agents (UFAs). The Rangers will have to figure out if they want to bring either of them back, and if the team plays poorly, they could look to trade them. Smith has done a nice job and has added some speed to the team while Lindgren got off to a rough start but has played better in his last few games. Smith’s cap hit this season is $3.75 million, while Lindgren’s cap hit is $4.5 million.
Backup goalie Jonathan Quick is also set to become a UFA after this season. He is off to an outstanding start in 2024-25 but at 38 there is no guarantee that he will decide to play in 2025-26. His cap hit is just $1.275 million this season and if the Rangers do need to find a new backup goalie next season it would be ideal to sign another veteran to a similar contract.
Additionally, Miller and Kaapo Kakko are both set to become restricted free agents after this season. Without a long-term extension, Miller would become a UFA after 2026-27 while Kakko would become a UFA after next season. Miller’s cap hit this season is just under $3.9 million, while Kakko’s is $2.4 million. Miller had a breakout season in 2022-23 but has struggled this season. Kakko had a career-high 40 points in 2022-23, then had an injury-plagued 2023-24 but he has played very well this season. The Rangers’ lack of depth at right wing makes him more important and his play this season has been a bright spot.
For the Rangers Moving Forward
Signing Shesterkin to an extension was key for the Rangers and now they have their star goalie locked up for another eight seasons. His career record in the regular season is 144-68-18, with a 2.47 goal-against average (GAA,) and a .920 save percentage (SV%.) He has won 23 of his 44 playoff starts with a 2.41 GAA, and a .928 SV%. While there is always risk in signing a player to such a big contract, he has consistently played at an elite level to earn this extension.
Following the Trouba trade, the Rangers are in a financial position that will allow them to go all in at the trade deadline this season. Now, it’s up to the players to show that this group can contend for the Cup.
