The New York Rangers have dropped to the bottom of the Eastern Conference amid a four-game losing skid and star forward Artemi Panarin’s future is top of mind as he approaches unrestricted free agency this summer.

While the Rangers are struggling, Panarin is on pace to top the point-per-game mark for the ninth straight season with 16 goals and 51 points in 47 games this season.

The 34-year-old winger has a full no-move clause in the last of a seven-year deal signed with the Rangers in 2019 at a cap hit of $11.64 million.

TSN Hockey Insider Darren Dreger reports contract talks between the two sides have not progressed, but it remains unclear if Panarin will be open to a move ahead of the March 6 trade deadline.

“There’s a whirlwind of speculation around what Chris Drury, the general manager of the New York Rangers might do,” Dreger explained on Early Trading Thursday, one day after fans chanted “Fire Drury” during an 8-4 loss to the Ottawa Senators. “That is a nasty building when things aren’t going well, and the Dolan family that owns the Rangers is part of it. They can hear it, and undoubtedly there’s an emotional impact on what Drury might be able to do moving forward.

“Lots of speculation around Artemi Panarin, we know he’s got the expiring contract, but he also has a no-move clause, so what direction is Panarin willing to go in?

“There’s been some speculation and talk that the Panarin camp has historically engaged in what an extension might look like with the Rangers, and the belief is that it doesn’t look good from Panarin’s perspective, so we do have to wait a little bit longer to see how this plays out.

“Is he willing, if there is no extension that is willing to be negotiated, is he willing to present a list? And how short is that list?

“You always look at the normal teams: the Florida Panthers, the Dallas Stars, the Golden Knights. Maybe there’s a couple of other teams that would express interest in the star that Panarin is.

“But if he doesn’t present that list, and he decides that there is an extension or isn’t an extension that works for him, he could absolutely walk into free agency, and the Rangers get nothing in return. That would be worst-case scenario for Drury and the team.”

Panarin was listed at No. 3 on TSN’s first Trade Bait board of 2026 on Thursday with New York on track to miss the playoffs for the second year in a row.

The Rangers, who have a 2-6-2 record in their past 10 games, will visit the Philadelphia Flyers on Saturday.