Latest buzz surrounding Artemi Panarin, Alex Pietrangelo

These days, all the talk about NHL contracts feels as though itâ€s focused on how high player salaries could push up in coming years. However, one pending UFA whose name can get lost in the mix has been approached by his club about potentially taking less than he might demand on the open market.

The 2026 UFA class is headlined by the likes of Connor McDavid, Kirill Kaprizov and Jack Eichel. With those three megastars — all still in their 20s — in the final year of their deals, Artemi Panarinâ€s status as someone who could hit the open market in July has gone somewhat unremarked upon in wider conversations.

Of course, Panarin, the New York Rangers and Blueshirts fans are all hyper-focused on what might happen next with the guy who, last season, had the highest cap hit of any winger in the league ($11.6 million). That figure stems from the monster seven-year, $87.13-million contract Panarin inked in 2019 to join the Rangers as a UFA and give the teamâ€s rebuild a huge push forward.

Now, as the club tries to get back to contender status after a brutal 2024-25 campaign that saw it miss the playoffs, New York is sussing out the situation to see whatâ€s possible on a new deal.

Though heâ€s still a fantastic player, the calculous on a new Panarin pact is different from those aforementioned pending UFAs because he turns 34 in October. According to Sportsnetâ€s Elliotte Friedman, the Rangers are looking at what happened between Anze Kopitar — another star, veteran player — and the Los Angeles Kings a couple years ago as a possible precedent for what might come next with Panarin.

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Speaking on the latest episode of 32 Thoughts: The Podcast, Friedman noted that, near the end of an eight-year, $80-million contract, Kopitar was asked by the Kings if he was willing to take a little less to help the team gain a competitive edge. In 2023, about a month before his 36th birthday, Kopitar — with one season remaining on his contract — inked a two-year extension worth $7 million per year that we now know will take him to retirement at seasonâ€s end. While we canâ€t say for sure how long Panarin will keep playing or exactly what kind of term is being offered, those dealings could serve as some kind of blueprint.

“I understand, at some point in the off-season, the Rangers had that kind of conceptual conversation with Panarin: ‘Is there a way you could do for the Rangers what Kopitar did for the Kings?â€â€ Friedman said on 32 Thoughts. “Obviously, at this point and time, it hasnâ€t happened. I donâ€t know where thatâ€s going to go, I donâ€t know if thatâ€s going to be a possibility, but I do know the two sides had the conversation and, obviously, at this point, Panarin is unsigned.â€

Speaking of decorated players, most people assumed two-time Stanley Cup champion Alex Pietrangelo had played his final NHL game when he announced in late June that he was stepping away from hockey to focus on his health.

However, that narrative was tweaked when Pietrangelo met with the Vegas media on Monday, noted he is feeling better and didnâ€t not completely close the book on playing NHL hockey again.

While everyone in the game would be rooting for a respected player like Pietrangelo to return, it would make things tricky for Vegas from a salary-cap standpoint. Recall, new rules mean the cap is still in place for the playoffs, so Vegas could not stick Pietrangeloâ€s $8.8-million hit on long-term injured reserve until the cap is lifted. While Vegas could get up to $4 million in cap relief without declaring Pietrangelo will not play at all this year, getting his cap hit fully cleared requires the team and player to go through a bit of a process. 

“The only way you can get (full salary relief) in the playoffs is if you declare a player out for the year,†Friedman stated. “Basically what happens is, a team has to apply to the league, submit the medical records and the (NHL Players†Association) is involved, too, because the player has to agree (heâ€ll be out for the year). If you apply for this and itâ€s given, then the player isnâ€t eligible for the season and the playoffs.

“As far as I can tell right now, Pietrangelo and the Golden Knights havenâ€t applied for that. Maybe they will, but I asked if it had happened and I was told, ‘Noâ€.â€

Although a resolution might not be imminent, the knowledge that there are no more cap loopholes to exploit for big-spending Cup contenders like Vegas definitely makes Pietrangeloâ€s situation one to monitor. 

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