Since he joined the New York Rangers five years ago, when former general manager Jeff Gorton signed Artemi Panarin to the richest contract in franchise history, he’s been well worth the money they paid him.

A dynamic player who combines speed, skill and some finesse, the 33-year-old Panarin has averaged well over a point-per-game as a Ranger. In fact, his 364 assists and 550 points are far and away the most over that span (2019-20 thru 2024-25) by a Blueshirt. Panarin’s 186 goals trail only Chris Kreider (193), who signed off on a trade to the Ducks on Jun. 12. The Bread Man leads Mika Zibanejad by seven goals entering next season. His 364 assists are 58 more than Adam Fox. He has Zibanejad beat by over 100 points in team scoring over the last six seasons.

The Rangers’ highest paid player will enter the final year of his contract this fall. His $11.64 million cap hit remains higher than fellow Russian teammate Igor Shesterkin, who’ll enter the first season of an eight-year contract extension with an AAV of $11.5 million that he signed on Dec. 6 to become the highest paid goalie in NHL history.

Coming off a dismal season that saw them go from winning the Presidents’ Trophy with a franchise record 114 points to failing to qualify for the postseason with 85 points, it would be wise for the Rangers to wait before making a decision on Panarin.

With Mike Sullivan taking over behind the bench, it’s anybody’s guess what the Rangers will look like for the upcoming season.

Despite Gavrikov Addition, Lingering Questions Remain on Blue Line

While team president and general manager Chris Drury had a good day in free agency by signing Vladislav Gavrikov and re-signing Will Cuylle, he subtracted K’Andre Miller from the blue line. Gavrikov should be an upgrade defensively over Miller, but it won’t be easy to replace the minutes the former 2018 first round pick played. Miller was used primarily as a matchup defenseman at five-on-five while also providing strong penalty killing.

For all of Miller’s inconsistencies, he still provided good value as a reliable top four defenseman. By not getting a proven roster player back for Miller, who wasted no time signing an eight-year contract worth $60 million ($7.5 million cap hit) with the Hurricanes, Drury didn’t replace him. With Gavrikov penciled in with Adam Fox on the first pair, lingering questions remain about the blue line.

When he went out and acquired Carson Soucy from the Canucks last March, Drury was banking on Soucy to help stabilize a shaky unit. Instead, the 30-year-old veteran struggled with former coach Peter Laviolette’s man-to-man defensive system. He was a step behind and frequently caught out of position. It was a hard adjustment for a player who’s made a living as a defensive defenseman. Hopefully, Soucy can rebound playing under Sullivan. The question is, is a projected second pair of Soucy and Will Borgen suitable enough to draw the toughest assignments. That remains to be seen.

Assuming Urho Vaakanainen and Braden Schneider remain teamed up on the third pair, both will need to improve their defensive play. Too often, they were pinned in by opponents who exploited the matchup. Despite struggling to get out of the zone consistently, they were on for three more goals (22-19) for than against. If the coaching staff chooses to keep them together, they should have chemistry due to knowing each other’s tendencies.

The wild card is Scott Morrow. Acquired from Carolina as part of the Miller transaction, the 22-year-old prospect is viewed as an offensive defenseman. A former 2021 second round pick, he scored his first career goal while adding five helpers in 14 games for the Hurricanes last season. If the 21 giveaways are any indication, Morrow still needs work defensively.

After playing collegiately at UMass-Amherst, he debuted for the Hurricanes by appearing in two games in 2023-24. He spent most of his first pro season starring for the Chicago Wolves in the American Hockey League (AHL). In 52 games, his 13 goals, 26 assists, and 39 points paced all Wolves’ defensemen in scoring.

At the moment, Morrow and Matthew Robertson should be battling for a roster spot in training camp. Unlike Robertson, who re-signed for two years, Morrow is still on his entry-level contract. A lot could hinge on 2025-26 with him set to become a restricted free agent the following summer.

Given the number of questions surrounding the back end, it’s easy to wonder if Drury did enough to improve the weakest area on the roster. Subtracting Miller without knowing whether or not Morrow can become part of the solution is a big gamble. Essentially, Morrow replaced Zac Jones, who signed a one-year, two-way deal with the Sabres. Based on his offensive production, he looks like an upgrade. However, nobody really knows if he’ll take the next step forward.

Thin Up Front

In assessing forwards, the Rangers are banking on Zibanejad to have a bounce back season. When he shifted over to play the right side on a line with J.T. Miller and Cuylle, Zibanejad was more productive due to less responsibility. If he remains on that line, Zibanejad must get back to producing more consistently. Both Miller and Cuylle can provide more time and space.

Speaking of Miller, he was over a point-per-game after coming over from the Canucks in a trade that sent Filip Chytil and Victor Mancini to Vancouver. To complete the transaction, the Rangers sent a conditional first round pick to the Penguins, who acquired the draft pick in a separate trade with the Canucks for Marcus Pettersson. In doing so, that means Drury held onto his 2026 first round pick. If the Rangers miss the postseason, that could come in handy, with Gavin McKenna available.

In order for the Rangers to be successful, they’ll need Miller to drive the offense. He was brought in to be a difference maker at the center position. A productive player who plays with a lot of edge, the 31-year-old is in his second tour of duty as a Blueshirt. It’ll be interesting to see what he can do over a full season on Broadway.

Cuylle is coming off a strong sophomore year that saw him achieve personal bests with 20 goals, 25 assists, and 45 points. He also scored two shorthanded goals and tied for third in the league with 301 hits. An emerging power forward, the 22-year-old left wing will be looked upon to help offset the loss of Kreider. Even in a down year that saw him riddled with injuries, he still scored 22 goals with four coming shorthanded. That isn’t easily replaced.

After a great 2023-2024 season, the trio of Panarin, Vincent Trocheck, and Alexis Lafreniere were unable to duplicate their success in 2024-25. They still finished with a plus-8 differential, outscoring opponents 36-28 at five-on-five per Natural Stat Trick. Panarin paced the Blueshirts in scoring with 37 goals and 89 points. Trocheck finished with 26 goals and 59 points.

Lafreniere was the biggest disappointment, dropping from 28-29-57 to 17-28-45. He wasn’t the same player following signing a seven-year contract extension worth $52.15 million ($7.45 million AAV) on Oct. 25. The former 2020 top pick is at a crossroads in his career. A couple of days into the new season, he’ll turn 24. The pressure is on Lafreniere to perform up to his new contract. There are no more excuses. He must take his game up a notch. It’s do or die for Lafreniere.

If the top six can provide more consistent scoring at even strength, then the issue becomes about their depth. If Zibanejad is really moving permanently off center, then Juuso Parssinen is the projected third line center. A young player who both the Predators and Avalanche gave up on, Parssinen has 20 goals and 33 assists for 53 points in 133 career games. His best output came in 2022-23 when he tallied six goals and 19 assists for 25 points as a 21-year-old rookie for Nashville. Now 24, he’s being asked to play a bigger role on Broadway. In 11 games following the trade that sent Ryan Lindgren to Colorado, he had two goals and three assists.

With Drury signing Taylor Raddysh, the veteran could find himself on the third line with Parssinen and former 2021 first round pick Brennan Othmann. Othmann still is without a goal in 25 career games. He put up two assists in 22 games last season. At this critical juncture, nobody knows what he is. He’s a good skater who likes to finish checks and attack the net. He’s capable of finding open teammates on the forecheck. Obviously, the Rangers need him to stick. He’s going to have a role in the top nine to start the season. Hopefully, Sullivan can find out what he’s got.

Then, there’s the fourth line. Both Sam Carrick and Jonny Brodzinski are capable of centering it. Each play the game hard, with Carrick a bit grittier while Brodzinski is more skilled. If Parssinen doesn’t work out on the third line, Brodzinski can move up to center it due to his versatility.

Adam Edstrom is coming back off surgery. He might not be ready at the start of the season. Matt Rempe looks like a lock on the fourth line. He made some strides following the eight-game suspension for the illegal hit on Miro Heiskanen. Brett Berard looks likely to play on the checking line with either Carrick or Brodzinski, and Rempe. The fourth line shouldn’t be a problem. These guys have played together and understand their roles.

If there is a big question, it’s who’s going to chip in offensively on the third line. Raddysh is the only established player. He had one good season when he scored 20 goals while playing for the Blackhawks. He did alright in a supporting role for the Capitals last season, going 7-20-77. In seven games in the postseason, he had one assist. He’ll give an honest effort. Just don’t expect too much offense.

At the moment, the Rangers look very thin up front. Unless Zibanejad shifts back to center, and top prospect Gabriel Perreault cracks the roster in the top nine, the offense is going to struggle to score consistently. The same problem they had last season.

Why They Should Wait on Panarin

Even if Shesterkin provides the big saves, the Rangers might be forced to win a lot of low scoring games. The defense looks like a work in progress, which doesn’t exactly inspire too much confidence.

When Panarin celebrates his 34th birthday on Oct. 30, they should have a better idea in what kind of roster they have. If they wait on Panarin, they can then determine if he’s going to be worth keeping. Much depends on whether they are a playoff caliber team. Would you be comfortable committing at least four more years and between $40 to 50 million dollars on a 35-year-old forward if they aren’t a playoff contender? That money can be better used on someone younger who’s in their prime.

Of course, there’s no guarantee that any stars of the potential 2026 free agent class will become available. Connor McDavid and Jack Eichel can sign contract extensions. So can Kirill Kaprizov and Kyle Connor.

Of all the players listed, Kaprizov is the one who could leave. The Wild haven’t proven that they’re capable of surrounding him with enough talent to compete for a Stanley Cup. Kaprizov is a younger and stronger version of Panarin. Arguably a top five offensive player, he has all the tools for a team to build around. He also plays the left side like Panarin. In other words, if he were available, Kaprizov would be the player for the Rangers to target.

Does Bread Man Want to Stay?

Undoubtedly, Panarin’s been very successful as a New York Ranger. He’s been their top offensive player who drives play at both five-on-five and on the power play.

The Rangers have made two Conference Finals appearances since he joined them. His most memorable goal came in sudden death when he scored the power play series clincher that eliminated the Pens in the first round in 2022. He finished with 16 points during that run.

In 2024, Panarin notched four game-winners after putting up a career-high 49 goals. He had five goals with 10 assists for 15 points. However, his offense dried up against the stingy Panthers in the third round. His only goal came with Shesterkin on the bench in Game 6. The Cats blanketed Panarin, Zibanejad, and Kreider, limiting them to two goals in the series.

If he wants to stay put in the Big Apple, would the Bread Man be open to taking a home discount so they can have more money available to improve the roster next year? By that, I mean taking one less year and between 9 to 10 million. If that interests him, then by all means they should try to get it done.

However, if they are able to keep Panarin, the organization must have a plan to construct the roster around someone else. It’s hard to envision Panarin ever hitting 49 goals and 120 points again. But can he get back to 100 points? That largely depends on how his linemates perform along with the power play. The latter went in the tank last year, plummeting near the bottom of the league. Perhaps Sullivan and his coaching staff which includes former Rangers bench boss David Quinn, can make some improvements to the man-advantage.

With not much happening during the summer heatwave, the organization has plenty of time to decide on Panarin. It shouldn’t be about the present anymore. They must think outside the box. The team’s future depends on it.