Rangers' Cap Status After Trouba Trade & Shesterkin Extension – Hockey Writers –

The New York Rangers made two big moves after a poor performance that resulted in five straight losses. On December 6, they traded captain Jacob Trouba to the Anaheim Ducks in exchange for Urho Vaakanainen and a fourth-round pick. Later in the day, they signed star goaltender Igor Shesterkin to an eight-year, $92 million extension. These moves have drastically changed the salary cap landscape and will have a major impact on the short and long term future of the Blueshirts.

What Trouba's Trade Means for Rangers' Cap Status

Prior to the 2019-20 season, the Rangers acquired Trouba from the Winnipeg Jets in exchange for Neal Pionk and a first-round pick. They then signed him to a seven-year, $56 million contract. He played very well in 2021-22, finishing with 11 goals and 28 assists in 81 games but struggled after last season and this season. With the team needing to create cap space to re-sign Shesterkin and other key young players it made sense to trade the 30-year-old linebacker.

Related: Ducks Get Trouba From Rangers In Exchange For Vaakanainen, 4th-Round Pick

While returning a fourth-round pick with Vaakanainen may seem like a burden, the Ducks paid the rest of Trouba's contract which is key to the Rangers. Vaakanainen was signed to a one-year, $1.1 million contract so the move gives the Blueshirts more financial flexibility.

Despite head coach Peter Laviolette shuffling defensive penalties during the Rangers' recent slump, Trouba ended up playing on the team's second team alongside K'Andre Miller and was a key penalty killer. After the trade, the team called up rookie Victor Mancini from the Hartford Wolf Pack of the American Hockey League (AHL.) He played on the right side of the third defense team with Zac Jones even though he was a lefty, and he played well at the time. the team's 4-2 win against the Pittsburgh Penguins on Dec. 6. Vaakanainen is currently on injured reserve.

Fortunately, Mancini will continue to play well and solidify his place in the lineup, but the Rangers could be in trouble if some defenders have to miss time with injuries. Veteran blueliner Chad Ruhwedel provides some depth but has played in just one NHL game this season. The cap space the team now has from the Trouba deal makes it very easy to trade a defenseman with an expiring contract this season but it makes sense to wait until the trade deadline approaches.

The NHL's trade deadline is March 7, and if the Rangers wait until before the trade deadline, they could potentially pick up more players on expensive contracts that expire after this season. If a team plays poorly and falls out of the playoffs, they can also look to acquire draft picks and prospects by trading some of their veterans and taking on the expiring contracts of struggling players.

What the Shesterkin Extension Means for the Rangers

While the Rangers already have cap space this season, Shesterkin's contract extension is a huge commitment for the next eight seasons. His salary this season is less than $5.7 million and that number will increase to $11.5 million starting next season. The contract means that the Blueshirts must be careful to trade players at the trade deadline that are signed this season.

Both 26-year-old defenseman Ryan Lindgren and 33-year-old winger Reilly Smith will be unrestricted free agents (UFAs). The Rangers will have to see if they want to bring one of them back, and if the team is playing poorly, they could look to trade him. Smith did a great job and added pace to the team when Lindgren had a rough start but he has played better in his last few games. Smith's cap hit this season is $3.75 million, while Lindgren's cap hit is $4.5 million.

Backup goaltender Jonathan Quick will be a UFA again after this season. He will start well in 2024-25 but at the age of 38 there is no certainty that he will decide to play in 2025-26. His cap hit is $1.275 million this season and if the Rangers need to find a new goaltender next season it would be good to sign another veteran to the same contract.

Additionally, Miller and Kaapo Kakko are both scheduled to become restricted free agents after this season. Barring a long-term extension, Miller will be a UFA after 2026-27 and Kakko will be a UFA after next season. Miller's cap hit this season is less than $3.9 million, while Kakko's is $2.4 million. Miller had a breakout season in 2022-23 but has struggled this season. Kakko had a career-high 40 points in 2022-23, then had injury problems in 2023-24 but played very well this season. Rangers' lack of focus on the right side makes him very important and his performance this season has been a highlight.

For the Forward Guards

Signing Shesterkin to an extension was key for the Rangers and now they have their star goaltender locked up for eight more seasons. His career record in the regular season is 144-68-18, with a 2.47 goals-against average (GAA,) and a .920 save percentage (SV%). He has won 23 of 44 playoff starts with a 2.41 GAA, and a .928 SV%. While there is always a risk in signing a player to such a large contract, he has been playing at a high enough level to earn this extension.

Following the Trouba trade, the Rangers are in a financial position that will allow them to enter this season's trade deadline. Now, it is up to the players to show that this team can fight for the trophy.