Report: Rangers won't offer Panarin contract extension

The New York Rangers won't offer star forward Artemi Panarin a contract extension, sources told Sportsnet's Elliotte Friedman.

Panarin, 34, is set to become an unrestricted free agent in July. He's in the final season of the $81.5-million deal he inked with the Rangers as a UFA in 2019. Panarin has a cap hit of just over $11.6 million and a full no-move clause.

The Rangers told Panarin that general manager Chris Drury will work with him and his agent to trade the forward to his preferred destination, Friedman reports, citing sources.

Drury issued a letter to Rangers fans Friday signaling the club would enter a "smart and opportunistic" retool.

Panarin has 16 goals and 51 points in 47 games this season. He's averaging a career-high 20:48 of ice time but scoring at his lowest rate since 2017-18.

The Russian has 318 goals and 921 points in 799 career contests with the Chicago Blackhawks, Columbus Blue Jackets, and Rangers. Panarin notched a career-best 49 goals and 120 points in 2023-24.