The New York Rangers were unlikely to pursue Leon Draisaitl as a free agent next summer, but they closely observed his recent contract extension with the Edmonton Oilers, finalized on Tuesday.
The Rangers have their own superstar, Igor Shesterkin, who will need a new contract before he hits unrestricted free agency on July 1 next year. While comparing Shesterkin to Draisaitl isn’t a direct comparison, there are valuable lessons for the Rangers to draw from this situation.
Both 28-year-olds are elite in their positions, with Shesterkin being arguably the best goalie in the NHL, as evidenced by his role in leading the Rangers to the Eastern Conference Final last spring. Draisaitl is considered one of the top forwards globally, often compared to his Oilers teammate Connor McDavid, with multiple 100-point seasons.
Both players are pivotal for their respective teams and have expressed deep loyalty to the franchises that drafted them in 2014. If they had reached free agency, they would have been among the most coveted players, along with Mitchell Marner of the Toronto Maple Leafs and Mikko Rantanen of the Colorado Avalanche, assuming Sidney Crosby stays with the Pittsburgh Penguins.
Draisaitl’s extension is an eight-year deal worth $112 million, averaging an NHL-record $14 million per season. Shesterkin is expected to aim for a similar high mark, potentially surpassing Carey Price’s $10.5 million AAV, with his new deal possibly exceeding $12 million per season.
Both the Oilers and Rangers are facing salary cap constraints, with the Oilers needing to address contracts for McDavid, Evan Bouchard, and Darnell Nurse soon. The Rangers need to negotiate new deals for Shesterkin, Alexis Lafreniere, and K’Andre Miller before they reach restricted free agency with arbitration rights next summer.
The key takeaway for the Rangers is understanding how the Oilers managed their salary cap while securing Draisaitl’s extension, providing insight into navigating similar challenges with their own roster.
Rangers can learn from Oilers signing Leon Draisaitl to massive contract
“Players like Leon are unique,” Oilers general manager Stan Bowman stated on Tuesday. “There are very few players in the world who play hockey like he does. There’s no way we could ever replace what Leon brings to the table. … For me, signing Draisaitl was never in question.”
Although goalies are generally not valued as highly as elite forwards, Rangers general manager Chris Drury should adopt a similar mindset regarding Shesterkin, just as Bowman did with Draisaitl.
You have, arguably, the best player at his position in the NHL. Don’t overcomplicate things—just finalize the deal.
Of course, it’s not that straightforward. Negotiations are involved, and any GM is likely looking for financial adjustments to build around their superstar. However, the priority should be securing the deal and then managing the rest.
“There will certainly be challenges ahead, but that’s something we’ll handle later,” Bowman said. “The most important thing was to ensure he wanted to stay in Edmonton. We’ll address everything else later. For now, we’re thrilled he’s with us.”
We might hear similar sentiments from Drury in the coming weeks, as the Rangers likely aim to finalize an extension before the 2024-25 season starts.
However, both the team and Shesterkin might be waiting to see how Jeremy Swayman’s contract situation with the Boston Bruins unfolds. While not a direct comparison, Swayman’s situation is notable as he seeks a significant raise and will become the Bruins’ undisputed No. 1 goalie following Linus Ullmark’s trade to the Ottawa Senators.
Swayman is currently an RFA and not under contract for this season, with free agency not an option until 2026. Negotiations for a substantial deal are underway.
Shesterkin, being three years older and with more NHL experience than Swayman, will likely command a larger contract. Nevertheless, he might want to see the terms of Swayman’s deal before finalizing his own with the Rangers.
Ultimately, the key takeaway from Draisaitl’s extension for the Rangers is the imperative to prioritize signing Shesterkin.
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