NY Rangers’ Salary Cap and Roster Breakdown Heading Into Pivotal Offseason
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The New York Rangers once again find themselves at a crossroads. After another season filled with regular-season promise and postseason disappointment, the organization faces a summer of reckoning — one that could determine whether this team finally breaks through or remains mired in a cycle of unmet expectations.
Armed with a respected new head coach in Mike Sullivan, pressure from an ambitious front office, and a passionate fanbase starving for a Stanley Cup, the Rangers must now evaluate their cap space, roster structure, and future vision.
This offseason isn’t just pivotal — it may define the Rangers’ next decade.
Here’s a comprehensive breakdown of where things stand with the salary cap, contract commitments, potential trade candidates, and what decisions general manager Chris Drury must make to unlock the Rangers’ full potential.
The Salary Cap Situation: How Much Room Do the Rangers Have?
The NHL’s salary cap is projected to rise to $88 million for the 2025–26 season — a modest bump from the previous year.
Current Cap Commitments:
As of May 2025, the Rangers have roughly $76.2 million committed to 17 players, leaving them with just under $11.8 million in cap space.
Key Figures:
- Total Cap Ceiling: $88 million (projected)
- Current Cap Commitments: ~$76.2 million
- Cap Space Remaining: ~$11.8 million
- Roster Spots Filled: 17
- Spots to Fill: 6
Conclusion: The Rangers aren’t drowning in cap problems, but they’re far from flexible. Every dollar will count, especially if they pursue a big-name free agent or trade acquisition.
Guaranteed Contracts for 2025–26
Here’s a position-by-position look at who’s under contract and what it costs.
Goaltenders
| Player | Cap Hit | Status |
|---|---|---|
| Igor Shesterkin | $5.667M | Signed through 2025–26 |
| Jonathan Quick | UFA | Likely retirement or one-year deal |
Notes: Shesterkin remains the backbone of this team. He’s due for a massive extension soon, likely in the $9–10 million AAV range. The Rangers will need to think carefully about how to back him up — a veteran minimum deal or promoting from within?
Defensemen
| Player | Cap Hit | Term |
|---|---|---|
| Adam Fox | $9.5M | 5 years |
| Jacob Trouba | $8.0M | 2 years |
| K’Andre Miller | $3.872M | 1 year (RFA after) |
| Braden Schneider | RFA | Needs new deal |
| Ryan Lindgren | UFA | Extension candidate |
| Erik Gustafsson | UFA | Likely walks |
| Zac Jones | $812K | 1 year |
Notes:
- Adam Fox is a cornerstone and worth every dollar.
- Jacob Trouba, while a leader, carries an $8M cap hit that no longer reflects his on-ice performance.
- K’Andre Miller has upside but needs consistency. His next contract will likely jump to $6M+.
- Ryan Lindgren is beloved for his grit but is a free agent — the Rangers must decide if he’s part of their long-term plan.
Forwards
| Player | Cap Hit | Term |
|---|---|---|
| Artemi Panarin | $11.642M | 2 years |
| Mika Zibanejad | $8.5M | 5 years |
| Chris Kreider | $6.5M | 2 years |
| Vincent Trocheck | $5.625M | 5 years |
| Alexis Lafrenière | $2.325M | 1 year |
| Filip Chytil | $4.437M | 3 years |
| Kaapo Kakko | RFA | Likely traded/non-tendered |
| Barclay Goodrow | $3.641M | 3 years |
| Jimmy Vesey | $800K | 1 year |
| Brennan Othmann | $863K | 2 years (entry-level) |
| Will Cuylle | $828K | 1 year (entry-level) |
Notes:
- Panarin and Zibanejad are locked in, but their postseason production remains under scrutiny.
- Kreider, a heart-and-soul Ranger, may be on the block if a retool is necessary.
- Trocheck was among the team’s most consistent playoff performers — safe.
- Chytil’s return from injury brings questions about reliability.
- Lafrenière and Othmann are ascending and cheap — critical for cap efficiency.
- Goodrow is a prime buyout or trade candidate.
Restricted Free Agents (RFAs)
| Player | 2024–25 Status | Projected AAV |
|---|---|---|
| Kaapo Kakko | RFA | $2.4–3M |
| Braden Schneider | RFA | $2.5–3.5M |
Outlook:
- Kakko has underwhelmed. A trade seems more likely than a new contract unless it’s a one-year “prove-it” deal.
- Schneider has grown into a dependable bottom-four blueliner and should be re-signed. Bridge deal most likely.
Unrestricted Free Agents (UFAs)
| Player | Role | Re-sign Likely? |
|---|---|---|
| Ryan Lindgren | Top-4 D | 50/50 |
| Erik Gustafsson | Depth D | No |
| Jonathan Quick | Backup G | Unlikely |
| Jack Roslovic | Middle-six F | No |
Strategy:
- The Rangers will probably let Gustafsson and Roslovic walk.
- Lindgren is tougher. He’s a locker room favorite but could cost north of $4.5M. Drury must balance sentimentality with cap realities.
Cap Casualty Candidates: Who Could Be Moved?
The Rangers can’t afford to add major talent without shedding salary. Here are the most likely cap casualty or trade candidates:
1. Barclay Goodrow
- Cap Hit: $3.641M
- Why Move: He’s a luxury player with declining offensive production.
- Buyout Dead Cap: ~$1.3M/year over 6 years
- Trade Value: Minimal without retaining salary
2. Kaapo Kakko
- Cap Hit: TBD
- Why Move: His development has stalled. He needs a change of scenery.
- Trade Value: Still decent. Could be part of a larger package.
3. Jacob Trouba
- Cap Hit: $8M
- Why Move: Expensive for a second-pair defenseman.
- Obstacles: Full no-move clause
4. Chris Kreider
- Cap Hit: $6.5M
- Why Move: He’s aging, and this may be the last chance to sell high.
- Obstacles: Full NMC and franchise icon status
Areas of Need This Offseason
Top-Six Right Wing
- The Rangers need a pure scorer or playmaker to complement Panarin or Lafrenière. Names like Jake Guentzel, Martin Necas, or even Elias Lindholm have been linked.
Right-Side Defense Depth
- If Trouba is moved or declines further, the Rangers must reinforce their blue line. A reliable veteran or a trade for a younger, cheaper option could be key.
Backup Goalie
- With Quick likely gone, do the Rangers re-sign Louis Domingue or elevate Dylan Garand?
Buyouts, Extensions, and Wildcards
Buyout Window
The Rangers could buy out Goodrow, saving ~$2.3M next season but spreading dead cap over six years.
Shesterkin Extension
- Eligible to sign July 1
- Likely 7-8 years at $9–10M AAV
- Needs to be planned carefully to avoid future squeeze
Prospect Pipeline
- Gabe Perreault, Adam Sýkora, and Matthew Robertson are pushing for NHL time.
- Their development could allow Drury to keep some positions cheap.
Potential Opening Night Roster (If Guentzel is Signed)
Forwards
- Panarin – Zibanejad – Guentzel
- Lafrenière – Trocheck – Othmann
- Cuylle – Chytil – Vesey
- Prospect/FA – 4C – Grinder
Defense
- Miller – Fox
- Lindgren – Schneider
- Jones – Veteran UFA
Goalies
- Shesterkin – Veteran (Domingue/Garand)
The New York Rangers are talented, expensive, and underachieving. Something has to give.
Chris Drury and Mike Sullivan know this roster isn’t far off from serious contention. But to take the next step, they must make smart, bold moves — whether that means landing a $65 million winger, parting with a franchise veteran, or trusting their youth.
The salary cap isn’t a straitjacket, but it’s tight enough that every decision will ripple across the next 3–5 years. With Igor Shesterkin due a raise, Panarin and Zibanejad not getting any younger, and the pressure of Madison Square Garden looming large, the Rangers must act decisively.
This offseason isn’t just pivotal.
It’s make or break.
