Connor McDavid is without question the most talented hockey player in the world right now – and arguably ever. While all 32 NHL teams would salivate to get their hands on him, it would be a shock to some to see the generational talent in another uniform that’s not the Edmonton Oilers.
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McDavid is scheduled to become a free agent for the first time in his career in the summer of 2026. He could very well sign an extension in 2025 to remain in a blue and orange jersey – but nobody truly knows for sure just yet.
Even the Oilers’ Leon Draisaitl admitted after signing his big eight-year $112 million extension with the organization this summer: “Connor’s going to do what’s best for him, right? That’s just the way this works and it’s supposed to work that way. I did what I thought was best for me personally.”
From Gretzky to Messier
If McDavid ultimately decides his future isn’t in Edmonton, why not the New York Rangers? Historically, Manhattan has been an attractive draw for free agents – and the Original Six appeal adds to it.
Plus, the Rangers have always been in on these types of stars. Most recently, Artemi Panarin wanted the Rangers – and he waited until free agency in 2019 to turn the dream into reality after signing a seven-year $81.5 million deal. In 1996, the Rangers got a deal done with Wayne Gretzky to bring the greatest hockey player ever to Broadway. It’s also worth noting the Blueshirts made a trade to get Mark Messier in the 1990s.
So you think the Rangers won’t be in on McDavid when the time comes? Of course, they will – as will just about every other NHL organization. The question is will McDavid want the Blueshirts?
How the Rangers Should Prepare with Cap Space
Luckily, for McDavid, he still has plenty of time to make that decision for himself and his family. But that shouldn’t stop the Rangers from preparing for it. Clearing cap space will be a must and a team around him that’s a contender for the Stanley Cup will be another priority.
As of now, the Rangers are projected to have over $52 million in cap space for 2026-27, according to PuckPedia. That assumes an $88 million salary cap. But you have to think some of that will be eaten up by potential long-term contracts to Alexis Lafrenière and K’Andre Miller. Plus, you have to think that signing Igor Shesterkin before he hits free agency in 2025 will be a top priority for president and general manager Chris Drury. Those moves could easily cost a combined $25 million in average annual value (AAV) alone. So that would eat almost half the Rangers’ space.
Also, that $52 million projection now does not include Panarin and Jacob Trouba on the books. It’s fair to think Trouba likely won’t be extended before he hits free agency after 2026, with all the rumors this offseason – but what about Panarin? Does he sign an extension at a discount to remain a Blueshirt or will it cost the organization north of $10 million against the cap? Does Panarin decide to become a free agent again and leave for another team, as he did in 2019? Or does Drury wait and see how things play out with McDavid before committing a potential $10 million-plus AAV?
If the Rangers do agree to extend Panarin, it wouldn’t be impossible – but difficult to fit McDavid under the cap. In free agency, the Oilers captain will be able to command up to 20 percent of the salary cap – and teams will pay it. That would be a $17.6 million AAV under an $88 million cap. Assuming Shesterkin, Miller, Panarin, and Lafrenière sign contracts, the Rangers would likely have $17 million or less in cap space. Plus, others like Braden Schneider and Zac Jones could be due for raises.
That means at least one big contract on the books would have to be moved unless McDavid leaves a little money on the table. Almost certainly the Rangers wouldn’t consider moving Adam Fox’s $9.5 million AAV. And Mika Zibanejad’s $8.5 million, due to his full no-move clause in effect, makes him tough to move. But there are other options. This includes moving Chris Kreider, Filip Chytil, and/or Vincent Trocheck, all of which count about a combined $16.5 million against the cap. None of those players will have full no-trade or no-movement clauses by the time McDavid is scheduled to hit free agency. Plus, centers are always in demand in the trade market.
A couple of years might seem like a while away – but McDavid is too much of an exceptional player to ignore. Getting him at 29 would give the Rangers a little less than a decade of prime play out of a generational player. If it causes the Rangers to lose Panarin – so be it. Drury needs to keep his options open and make sure the organization is prepared in July 2026 with an offer should McDavid get to free agency.
