The speculation surrounding Artemi Panarin’s future with the New York Rangers is heating up — and for good reason. The star left winger has reportedly turned down an early extension offer from the team, casting doubt over whether he’ll finish his career on Broadway.

According to Elliotte Friedman on The FAN Hockey Show, the Rangers approached Panarin with a proposal similar to Anze Kopitar’s recent deal with the Los Angeles Kings— shorter term and at a reduced cap hit. Kopitar was given a two-year deal at $7 million per season.

Panarin’s camp, led by agent Paul Theofanous, wasn’t interested.

“They went to him and said, 'Would you be willing to take a Kopitar kind of deal? ' and the answer was no,” as Friedman put it.

Artemi Panarin Reportedly Declined Team-Friendly Proposal From Rangers As He Remains Without A Contract Extension Artemi Panarin and the New York <a href="https://thehockeynews.com/nhl/new-york-rangers">Rangers</a> may be in a stalemate regarding negotiations for a contract extension.&nbsp;

David Pagnotta of The Fourth Period added that if the Rangers become a “bubble team” and there’s no sign Panarin intends to stay beyond next season, they could seriously consider moving him.

For an organization trying to reshape its identity under new head coach Mike Sullivan, the timing of this standoff couldn’t be more intriguing.

Panarin, 33, is in the final year of his seven-year, $81.5 million contract, $11.64 million in average annual value. He’ll be a UFA in July 2026, and at his age, this could be his last major payday.

He’s watched as big names have started coming off the board, which gives him an idea of what numbers are being given to marquee players, and makes him a bigger fish in a smaller pond of UFAs. 

Unfortunately, his age and his slow start to the 2025–26 season isn't helping his leverage.

If the Rangers aren’t keen on the idea of committing long-term to him, he’s got to be thinking that he can hit a home run with an organization that might feel a bit more pressed to add a needlemover.

For that, he’ll have to turn his production around, considering that through seven games, Panarin has a goal and five assists. (this includes one big game versus the Montreal Canadiens where he scored a goal and three assists). 

Even then, the Blueshirts might decide to move on. Depending on how their season goes, trading Panarin at the deadline might be a way to shift gears, get younger, and use their cap space down the line.

So too, if Panarin isn’t bought in and giving his full effort to get this Rangers team back in contention, the superstar and the bench boss might not be a good fit. 

Sullivan’s system demands players play a 200-foot game. There might be some flexibility for a player of Panarin’s caliber, but the coach will bend only so far.

Panarin hasn’t looked terribly engaged. And, if there’s a player who should be performing at his personal best, it’s someone like Panarin, who, in a contract year, has a lot to gain. 

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If the pressure is too high in New York, where the organization has clearly decided to back their coach and go with the style of play that new captain J.T. Miller embraces, the fit for Panarin might be better elsewhere. 

The Rangers aren’t afraid to spend money, but they’ve proven they also aren’t afraid to make sweeping changes and pull off dramatic deals. Panarin has a full no-move, so he’ll be a part of whatever trade discussions take place. Don’t be shocked if those discussions start sooner, rather than later.

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