It was late Friday afternoon and I had just closed the laptop after filing a story outlining why the New York Rangers were a long-shot destination in the Quinn Hughes sweepstakes. T.G.I.F. at this stage of life means bundling up the kids for a family trip to a local Italian joint.
Everyone enjoyed their pizza and was fairly well-behaved — “fairly” being the key word here — but on the walk back to the car, I noticed several notifications on my phone. In one of the more seismic trades in recent NHL history, the Vancouver Canucks sent the 2023-24 Norris Trophy winner to the Minnesota Wild in exchange for a substantial package of 24-year-0ld center Marco Rossi, coveted defenseman prospect Zeev Buium, 2022 first-round winger Liam Öhgren and an unprotected 2026 first-round pick.
“Welp,” I thought, “There goes that column.”
I figured that was that, but as the weekend unfolded and information continued to trickle out, I realized there were still salient points to make regarding the Rangers’ ongoing pursuit of impact players and the steep hurdles standing in their way.
Prior to the trade (and dinner), I’d heard whispers of at least one conversation between Canucks brass and Rangers GM Chris Drury, but not enough to characterize the level of seriousness. Colleague Pierre LeBrun took it a step further Saturday by confirming that the Rangers were one of six teams who “made legitimate offers.”
That should come as no surprise. It was around this time last year when Drury signaled his intention to shake up the roster, a recognition that the core that took New York to two Eastern Conference Finals in three years from 2021-24 had hit its ceiling. That triggered a dizzying series of trades, most notably the Jan. 31 deal that brought J.T. Miller back from Vancouver. But it will require even bolder action to keep these middling Rangers from being trapped in NHL purgatory — good enough to hang around in the playoff race, but lacking the necessary firepower to truly contend.
There’s at least one reason they can allow themselves to dream big. As we’ve already discussed extensively, the Rangers are heading toward an offseason in which they’ll have more flexibility than any other point in recent history — over $30 million in projected salary cap space, by our count. They’ll soon have room to fit any player they can get their hands on, but a once-touted 2026 free-agent class has shriveled with Connor McDavid, Jack Eichel, Kirill Kaprizov and others signing contract extensions with their respective clubs. That’s thrown cold water on Drury’s hopes of making a splashy signing.
They’ve come to an understanding that acquiring top-of-the-lineup talent will require going the trade route. That’s why we should expect New York to sniff around any time a notable name is perceived as available, with the goal of eventually landing its big fish. But as the Hughes situation highlights, a depreciated pool of assets will make it difficult reel one in.
The Canucks were seeking a young, top-six center as the centerpiece of any deal, of which the Rangers have none. Filip Chytil was the closest thing, but concussion concerns sapped his value before he was shipped to Vancouver as part of the Miller trade. Rookie Noah Laba has since emerged as the organization’s best under-25 center, and while the 2022 fourth-rounder has been a nice find, he’s viewed as a bottom-sixer on a good team. After that, New York is painfully thin on up-and-comers down the middle.
The Rangers had little choice but to try and work around the center dilemma. Based on my own dot-connecting, their most realistic Hughes offer would have been something along the lines of winger Alexis Lafrenière, defenseman Braden Schneider and at least one of their two 2026 first-round draft picks.
It makes sense from New York’s perspective. Dangling Lafrenière would have made the salaries work for the remainder of this season, with his $7.45 million average annual value lining up well with Hughes’ $7.85 million AAV. Lafrenière’s former agent, Émilie Castonguay, is now assistant GM in Vancouver, which the Rangers could have used as a selling point as well. Schneider is another player the Canucks have previously shown interest in, with a league source indicating they requested him in the Miller trade before settling on a less-proven right-shot defenseman in Victor Mancini.
But while Lafrenière plus Schneider would have enticed a few years ago, the stock for both has plateaued. No one I’ve spoken to thought it would be enough to pry away Hughes, who’s widely regarded as one of the NHL’s two best defensemen along with Cale Makar of the Colorado Avalanche.
Top prospect Gabe Perreault may not have been enough to push the deal ahead, either. I’ve repeatedly heard New York plans to hold onto the 2023 first-round pick, but even if this were an exception — and Hughes should certainly fall into that category — a winger doesn’t carry the same league-wide appeal as a premium position like center or defense.
Years of draft and development misses, exacerbated by multiple trade deadlines in which Drury mortgaged the future for short-term fixes, has left the pipeline lagging behind. The pair of upcoming first-rounders should help, but for opposing general managers looking to make hockey trades — deals that return players who can help in the immediate or near future — the Rangers are a less desirable partner than most.
As Canucks president of hockey operations Jim Rutherford told reporters, Minnesota’s offer “was clearly the best one.” Rossi is a former top-10 pick who already has a 60-point season on his résumé, Buium was ranked as the eighth-best under-23 player in the world by The Athletic’s Corey Pronman, and Öhgren cracked the top 100. The Rangers, by comparison, didn’t have anyone ranked that high.
They couldn’t compete with the Wild in an open-bidding process, nor could they rival the New Jersey Devils, Detroit Red Wings or pretty much any other team rumored to be involved. So while yes, it’s clear Drury will throw his hat into the ring any time a worthwhile target hits the rumor mill, it’s much less clear if he has the ammunition to pull it off.
