A trade offer already in place for Artemi Panarin?!

On Wednesday evening, just minutes before their matchup against the New York Islanders, the New York Rangers pulled Artemi Panarin from the lineup for roster management purposes. Sources indicate the star winger is unlikely to play in any games leading up to the Olympics, a move widely viewed as precautionary, protecting a prime asset as trade discussions continue behind the scenes.

However, following the Rangers’ 5–2 loss, insider Vincent Z. Mercogliano added another intriguing layer, suggesting a trade offer may already be close to finalized.

“It’s unclear if a trade is being finalized or if the team is simply holding him out to prevent injury and protect a prime asset in the lead-up to the March 6 trade deadline. It’s also possible the Rangers have worked out the parameters of a deal and are now allowing Panarin time to negotiate a contract extension.”

That theory gained further traction when insider Chris Johnston revealed that Panarin’s camp is seeking an extension as a condition for signing off on any potential trade, a key factor given the winger’s contractual control.

On Thursday morning, Emily Kaplan added that Panarin's " agent has permission to negotiate an extension with any team Panarin would waive his NMC to be traded to - and as of last night, sounds like there’s a few in the mix."

Panarin has likely played his last game with the Rangers.

Panarin, one of the NHL’s most dynamic offensive players, has been linked to several potential suitors as the trade deadline approaches. With general manager Chris Drury signalling major changes ahead following a disastrous season, the Rangers appear open to significant roster movement. While there’s a sense Panarin would prefer to remain in the Eastern Conference, contenders in the West, including the Los Angeles Kings and Dallas Stars, have reportedly expressed interest. It has even been reported that he would consider an extension with the San Jose Sharks.

So is a deal already in place, with only a few final details left to iron out?

At 34 years old, Panarin carries a hefty $11.6-million cap hit, a full no-movement clause, and is a pending unrestricted free agent: all factors that complicate negotiations. Still, an extension as part of a trade would make sense for all sides involved.

If that’s the case, this saga could reach its conclusion much sooner than anyone expected.