The New York Rangers announced today that they have signed forward Artemi Panarin to a seven-year contract worth $81,494,000 (an $11,642,000 AAV). Panarin, who plays left wing, had 28 goals and 59 assists in 79 games this season. He added five goals and six assists in ten playoff games. Signed as an undrafted free agent by the Chicago Blackhawks before the 2015-16 season, Panarin is on his third team over his four-season career. This contract is an enormous raise from his previous contract, which saw him make $12,000,000 over two years (a $6,000,000 AAV).
Lydia’s Reaction: Good signing, huge overpayment. Panarin is a hell of a player, don’t get me wrong, but $11.6 million a year? Really? Connor McDavid makes $12.5 million as the highest paid player in the league, and I don’t know about you, but I would not put Artemi Panarin as a player who should make making less than a million dollars fewer than him. He is an elite offensive player, with 116 goals and 204 assists over 322 games, which is very nearly a point per game, but still. He’s 27, and by the end of his contract, he’ll be 34 and most likely worth nowheres near $11.6 million. Yes, the Rangers needed a player like him and any team that got him was going to have to overpay, but just because it was a given it would happen doesn’t make it smart. The Rangers have the cap space for him now, but they have a long of young players who will be very good soon and command a lot of money, so they won’t in a few years. When he begins to decline, this is going to look far worse. Granted, that looks like it is several years away, but it’s a pretty safe bet it’ll happen by the end of his contract. This is a good signing now given they need a player like him and he should fit in pretty well with them as he clearly wanted to be a Ranger given the other offers he had on the table.
Stephen’s Reaction: What a huge overpayment. This is an absolute joke. The Rangers have successfully screwed themselves for the future. They are a young team with a lot of guys who are going to be superstars. They will want this money back, and when they go to try and trade Panarin, they’ll have to give up way too much to do it because no one will want this contract. If they don’t trade him, they could end up losing someone like Kappo Kakko. When it gets to that point, it’s pretty much a lose-lose situation for the Rangers. $11.6 million a year is completely ridiculous. McDavid makes a million dollars more and Crosby MAKES THREE MILLION LESS. Just let that sink in for a minute. Panarin is an elite player don’t get me wrong, but this contract puts him up there in McDavid money, which is insane because Panarin is nowheres near his talent level. This is a contract I like from the standpoint of a Penguins fan because it makes us look good with Crosby signed at $8.7 million a year and Malkin at $9.5 million a year as their resumes are way better than Panarin’s. At the moment this looks good for New York, but four years from now, I bet they regret this.
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