Imagine a star player, Artemi Panarin, potentially on the move, and not just for a short rental, but possibly for a long-term commitment that could see him playing well into his late 30s! The New York Rangers have announced they won't be extending Panarin's contract, sending ripples through the NHL. This means the dynamic winger, currently 34 years old, is likely heading towards a trade before the March 6th deadline. But here's where it gets interesting: any team acquiring him will probably want to lock him down with a contract extension before making the trade, as he becomes an unrestricted free agent in July.
Frank Seravalli, a well-respected hockey insider, recently spilled the beans on what these extension talks might entail during an appearance on Sportsnet's Real Kyper & Bourne show. According to Seravalli, some teams are hesitant about committing to Panarin for the 'long haul' – and by long haul, we're talking a contract that could extend until he's 40! It's a significant commitment, considering the wear and tear of NHL hockey.
"I think there's a number of teams that are looking at this situation, going, 'Hmm, I don't know if we're in it for the long haul with Panarin,' and by long haul, I mean legitimately that," Seravalli stated. "The belief is around the league that Panarin is looking for a longer-term deal, potentially even one that takes him to 40 [years old]."
Now, you might be thinking, "Will any team actually go for that?" Seravalli believes someone will, because as he points out, all it takes is one team willing to take the risk. But even if a team isn't ready for a long-term commitment, Panarin remains a highly desirable rental player. He could become a valuable supporting piece, taking some of the pressure off other star players. And this is the part most people miss: sometimes, a change of scenery and a slightly different role can revitalize a player's performance.
Before all this news broke, AFP Analytics projected Panarin's next contract to be around four years at $41 million (an average annual value of $10.25 million). They even drew a comparison to Alex Ovechkin's five-year, $47.5 million extension with the Washington Capitals back in 2021 (which had a $9.5 million AAV). But Seravalli's report suggests that the deal could now be in the five-to-six-year range, potentially with a higher price tag, given Panarin's consistent offensive output and the ever-increasing salary cap.
Let's talk about Panarin's performance. He's been a consistent point producer throughout his career. This season alone, he has 56 points (19 goals, 37 assists) in 50 games for the Rangers. In fact, he's recorded 80 or more points in seven of his last eight seasons! During the 2023-24 campaign, he even posted a career-high 120 points (49 goals, 71 assists) in 82 games with the Rangers.
So, which teams are in the mix? The Washington Capitals are reportedly among the front-runners, alongside the Colorado Avalanche. Interestingly, the Capitals have the cap space to accommodate Panarin's contract and a potential extension, especially with Ovechkin and other veteran players potentially coming off the books in the coming years.
According to PuckPedia, Panarin's current cap hit is just over $11.6 million, and the Capitals have $7.17 million available right now. However, with cap accruing throughout the season, they're projected to have $14.34 million in space at the trade deadline. But here's a thought: the Rangers might even be willing to retain some of Panarin's salary to facilitate a trade, making him even more attractive to potential suitors.
But here's where it gets controversial... Is signing a player like Panarin to a long-term deal that takes him to age 40 a smart move? On one hand, you're getting a proven offensive force. On the other hand, you're committing a significant amount of money to a player who will inevitably decline with age. There's also the risk of injuries. Some might argue that it's better to invest in younger, up-and-coming talent. Others might say that a star player like Panarin can elevate an entire team and make them a contender.
What do you think? Are the Capitals, or any other team, making a gamble by pursuing Panarin for the long term? Or is this a move that could pay off big time? Let us know your thoughts in the comments below!
