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Jake Tye
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Updated at Jan 29, 2026, 18:19
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Artemi Panarin's future hangs in the balance as the Dallas Stars emerge as a leading contender, but cap constraints loom large.

The talk around the NHL continues to center on one question where is Artemi Panarin going next. The New York Rangers winger appears to be on his way out of Manhattan after general manager Chris Drury confirmed the team will not be offering Panarin a contract extension and is likely to trade the superstar forward.

That direction became even clearer on Wednesday when the Rangers made the decision to sit Panarin for their matchup against the New York Islanders. According to multiple reports, Panarin is also not expected to dress for the next two games leading into the Olympic break, further fueling speculation that a trade could be imminent.

With Panarin seemingly on the move, the Dallas Stars have emerged as the most frequently mentioned teams in trade discussions. Several NHL insiders have linked Stars general manager Jim Nill to conversations with the Rangers regarding Panarin. 

However, those same insiders have also raised concerns about whether a deal is realistic given Dallas’s tight salary cap situation. The Stars are already facing the challenge of re signing star forward Jason Robertson, which could complicate any attempt to add another high priced contract.

Still, Panarin remains one of the league’s most dynamic offensive players and could dramatically alter the outlook of a contending team. If Dallas believes he represents the final piece needed to build a championship roster, Nill may consider taking a significant risk to make the move work.

TSN insider Chris Johnston added further intrigue by confirming that Panarin has strong interest in joining Dallas. Johnston said Panarin would love to go to the Stars, but cautioned that the organization would need to make difficult financial moves or part with several valuable assets to complete a deal. Johnston also admitted he is unsure whether the Stars can realistically make it work.

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Sportsnet’s Elliotte Friedman echoed those concerns while discussing the situation on a recent episode of the 32 Thoughts podcast. Friedman said the Stars would likely be unable to commit significant term to Panarin and that any decision could depend on how the team proceeds with Jason Robertson.

He also noted that Panarin’s preference is to join a new team with a contract extension already in place. However, Friedman added that if Panarin were to accept a short term rental situation, Dallas would be one team he would seriously consider. Panarin has all of the control considering he has a no-move clause and can dictate where he wants to go. 

As for what the Rangers might seek in return, Friedman suggested New York would look for a package similar to the one the Colorado Avalanche sent to the New York Islanders for center Brock Nelson. That type of deal would include a blue chip prospect, a depth player capable of stepping into the lineup immediately, and multiple draft picks including a first rounder and a third rounder.

Despite the Rangers’ struggles this season, Panarin has continued to perform at an elite level. New York currently sits with the worst record in the Eastern Conference, yet Panarin has recorded 19 goals and 37 assists for 56 points in 51 games. He is on pace for 89 points, which would mark the fifth consecutive season he has reached that total. As the trade deadline approaches, all eyes remain on Panarin and whether a blockbuster move could soon reshape the playoff picture.

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