Earlier this week, Igor Shesterkin reportedly rejected the Rangers’ contract extension offer of eight years, $88 million. NHL insider Kevin Weekes broke the story on Twitter.

It isn’t shocking that Shesterkin turned it down. Ever since Mollie Walker of the New York Post speculated that he wanted to be paid as high as $12 million per year back on June 2, it looks like his camp is hellbent on redefining the goalie market. For that reason, they weren’t pleased that the Rangers’ offer on Tuesday was leaked. It happens. The business side of sports can get complicated.

Following making 29 saves to become the first Rangers goalie to record a season opening shutout since Gump Worsley on Oct. 9, Shesterkin declined to comment on his contract status. The time for that was before the season started. Now, it’s all about what happens. There’s an 82-game schedule to play first. The Rangers must still prove they’re one of the league’s best. The playoffs are a long way off.

Shesterkin knows that he must prove he’s worth the contract he wants. The former Vezina winner hasn’t been able to match the gaudy numbers he put up in 2021-22. In his first full season as the starter, he went 36-13-4 with a 2.07 goals-against-average (GAA), .935 save percentage and six shutouts. He followed that up by posting a 2.59 GAA and .929 save percentage in the 2022 postseason – taking the Rangers to the Eastern Conference Final. They were a goal or two away from reaching the Stanley Cup Final.

Somewhat predictably, his level came back to earth. In 2022-23, he won 37 games and posted a 2.48 GAA and .916 save percentage. Last season, he won 36 games and had a 2.58 GAA and posted a career worst .912 save percentage. But he was much better in the second half – carrying his hot play into the playoffs. At times, he was impossible to beat. After backstopping the Rangers past the Hurricanes in a closely fought Metropolitan Division Final, he was even better against the Panthers. However, the offense dried up due to the Panthers’ dominance at even strength. Ultimately, his heroic goaltending wasn’t enough. Florida defeated New York in six games – going on to win the Stanley Cup over Edmonton.

How Contemporaries Stack Up

Considered by many to be the game’s best goalie, Shesterkin has some ammunition. A few of his contemporaries received raises.

In the summer, Juuse Saros signed an extension with the Predators that’ll pay him a $7.74 million cap hit thru 2032-33. He’s making $5 million this season. The 29-year-old has been a starter as long as Shesterkin. He took over for Pekka Rinne. While Saros has never won a Vezina, no starting goalie is a bigger workhorse than him. He’s led the league in games played the last three seasons. Saros has finished in the top five for Vezina the past three years. He was third in 2021-22. Due to playing in Nashville, Saros took a little less money. Even so, he’s a bargain.

Most recently, Jeremy Swayman was in a contract dispute with the Bruins. The 25-year-old netminder finally agreed to an eight-year contract worth $66 million. With less experience as a starter, he cashed in. His cap hit is $8.25 million. Swayman’s best season was in 2023-24 when he set personal bests in games played (44), games started (43), and wins (25). He’s won 80 games over a five-year career.

Linus Ullmark won the Vezina as a Boston Bruin in 2022-23. He went 40-6-1 with a 1.89 GAA and .938 save percentage during the Bruins’ record-setting season. He was unable to duplicate that success in a disappointing first round series loss to the Panthers. Ullmark still put up respectable numbers last season. He won 22 games while posting a 2.57 GAA and .915 save percentage. But Swayman was the number one goalie. With the Bruins aware that they couldn’t keep him due to Swayman, they dealt him to the Senators in the off-season for Joonas Korpisalo, Mark Kastelic, and a 2024 first round pick.

In the final season of a contract with a $5 million cap hit, the 31-year-old Ullmark signed a four-year extension for a $8.25 million AAV thru 2028-29. While he isn’t considered in the same category as Shesterkin, Andrei Vasilevskiy, Sergei Bobrovsky, Ilya Sorokin, or Jake Oettinger, he’s won 139 games while posting a 2.50 GAA and .919 over his career. He improved after leaving the Sabres. Doesn’t everyone?

For his career, Shesterkin has 136 wins, a 2.42 GAA, .921 save percentage and 16 shutouts. Excellent numbers that help his case. Some pundits have argued whether or not he’s worth four million more than Swayman. He’s more established and has taken the Rangers to two Final Four appearances. Let’s see how Swayman performs now that he’s the man in Beantown.

Pressure Is A Privilege

They say pressure is a privilege. That’s true. For the world’s greatest athletes, they have the ability to raise their level when the spotlight is on. Shesterkin has done his part in two of the last three postseasons. He also didn’t get much help from teammates in a forgettable seven-game first round elimination to the Devils in 2022-23.

By now, it’s been repeated as much as the scene in Groundhog Day when Phil keeps waking up and slamming the alarm clock at 6 AM. The Rangers are in it to win it. It doesn’t just fall on one player. Shesterkin is the most important one due to the position he plays. Teammates know how much he means to their chances. Without him, it would be unrealistic to think that the Blueshirts can win the Cup. He’s what Henrik Lundqvist was for better than a decade. Mike Richter did it in the 1990s, backstopping the franchise to a championship 54 years in the making.

With so much riding on the line this season, it’s do or die. It isn’t about Shesterkin’s next contract. He knows that. Whether it’s in the Big Apple or God forbid elsewhere, he’ll get his money. How badly does he want to win in New York City? He plays with passion and has an aggressive mindset. All you have to do is watch him come out to play a puck forward for a teammate to catch opponents in a line change. He has an active stick in the crease. He’s a very athletic goalie.

What’s The Scenario?

What if Shesterkin puts together another Vezina season, winning 40 games and leading the league in a few other categories? He’d be worth his asking price. What if the Rangers lose in the second round?

The biggest question is whether or not the Rangers get Shesterkin signed during 2024-25. If he’s fulfilling expectations, then Chris Drury will have no choice but to pony up. Imagine if there really isn’t any negotiations during the season. That would be the definition of insanity. It’s a scenario. Even if unlikely, you never know.

Realistically speaking, the organization knows that they can’t allow Shesterkin to get to free agency. If it ever came to that, they may as well say goodbye.

Panarin Money

When the Rangers signed Artemi Panarin to a seven-year contract that paid him $11.64 million, they made him the highest paid player in franchise history. The Bread Man has certainly been worth the money. In 391 games, he’s produced 149 goals, 314 assists, and 463 points as a Blueshirt. That included a career best 120 points (49-71-120) last season.

Despite performing better last postseason, Panarin struggled against the Panthers. His only goal came with Shesterkin on the bench to give the Rangers one final chance in Game 6. They were unable to force overtime. The knock on Panarin is that he doesn’t score enough in the playoffs. Had he done better along with Mika Zibanejad, the Rangers probably reach the Stanley Cup Final.

It’s no secret that Shesterkin wants Panarin money. He would love to become the highest paid player in Rangers history. He’ll turn 29 on Dec. 30. He’s in the prime of his career. If he was offered eight years at $11.7 million, would that be enough to keep him happy? My guess is we won’t know the answer for a while.

Whatever happens, his play will be a hot topic. At least we have the Mets and Yankees to distract us for a while.