The Rangers’ Salary Cap Situation After Trading Chris Kreider

How the Kreider Trade Reshaped the Rangers’ Cap Strategy

The Kreider move wasn’t just about getting rid of a declining player – it was a calculated strike designed to maximize offseason flexibility. Rangers’ available cap space jumped from $8.42 million to nearly $15 million almost overnight. That’s not just a bump in spending power – it’s the difference between being a spectator and being a player when July 1st rolls around. Drury’s timing deserves recognition here. Making this move before the June 27-28 NHL draft in Los Angeles gives the organization cost certainty exactly when they need it most. 

Why Kreider Had to Go

The harsh reality? Kreider’s production fell off a cliff last season. Just 30 points in 68 games – his lowest point total ever. We’re talking about 0.44 points per game from a guy who’s supposed to be a core piece. Age catches everyone, and at 34, Kreider showed clear signs of decline. The injury list didn’t help either – back problems, vertigo, hand issues. When your alternate captain is dealing with that many physical problems, it affects more than just his individual performance.

Meanwhile, the financial pressure was mounting fast. Igor Shesterkin’s salary jumps from $5.67 million to $11.5 million next season. Add in recent acquisitions that cost another $12.1 million annually, and suddenly signing K’Andre Miller and Will Cuylle becomes mathematically impossible. 

Here’s where things get interesting from a team culture perspective. Kreider joins Jacob Trouba and Barclay Goodrow in the exodus. That’s three veteran voices walking out the door in a short span. Last season exposed some ugly truths about this team’s leadership structure. Four players publicly called out the organization over playing time and usage. When your alternate captains – Kreider, Mika Zibanejad, and Artemi Panarin – can’t hold the room together during adversity, something fundamental needs to change. The organization isn’t satisfied with just making the playoffs anymore – they want to win the Stanley Cup. Sometimes that means making uncomfortable decisions about popular players.

Breaking Down the Rangers’ Numbers Game

Let me walk you through what this Kreider trade really means when you look at the books. The NHL salary cap ceiling has increased to $95.5 million for the 2025-26 season – the biggest jump we’ve ever seen in league history. The Rangers are sitting in a decent position with about $14.92 million to play with right now. But here’s where it gets interesting: they only have 18 guys locked up out of 23 roster spots. Their total commitments sit at $80.58 million, which puts them 11th highest across the league. They’ve got 32 standard contracts in the system out of the allowed 50. Breaking it down, that’s 11 forwards, 5 defensemen, and 2 goaltenders currently under contract.

Artemi Panarin carries the heaviest load at $11.64 million – and this is his final year on that deal. Igor Shesterkin comes in right behind him at $11.5 million after signing that massive extension. Then you’ve got Adam Fox ($9.5 million), Mika Zibanejad ($8.5 million), and J.T. Miller ($8 million) eating up serious cap space. Alexis Lafrenière just inked that seven-year extension worth $7.45 million per season. Add in Vincent Trocheck at $5.63 million and William Borgen at $4.1 million, and you’re looking at eight players accounting for more than $66 million in commitments. That’s a lot of eggs in a few baskets.

The RFA Situation Gets Complicated

Here’s where the real headache begins. K’Andre Miller is the biggest question mark as their top left-handed defenseman. Word around the league is he’s looking at somewhere between $5-6 million annually. That’s not exactly pocket change in the NHL. Will Cuylle earned himself a nice payday after that 20-goal, 300-hit breakout season. 

Let me be honest about K’Andre Miller’s situation – it’s messier than anyone wants to admit. The 25-year-old defenseman has teams calling about his availability, and reports suggest the Rangers have told other clubs he’s on the table. His inconsistent play probably has something to do with that. Miller’s qualifying offer sits at $4.65 million just to keep his rights. If you ask me, his next deal probably lands somewhere between $5-6 million annually. What makes this urgent? He becomes a UFA in 2027, so there’s no time to mess around.

Now here’s what gets interesting – some teams might skip the trade route entirely and go straight for an offer sheet. If that happens and Miller signs elsewhere at certain thresholds, the Rangers walk away with a first and third-round pick. Not the worst consolation prize, if you ask me.

Will Cuylle’s rising value

Will Cuylle is the kind of player that makes you forget about the disappointments. Twenty goals and 45 points in his first full season. Add 300 hits to that resume, and you’ve got yourself a power forward who just finished his entry-level deal. His qualifying offer? A modest $813,750. The projections I’m seeing suggest a three-year deal worth around $3.4 million per year. Unlike Miller, Cuylle doesn’t have arbitration rights, which gives Drury some leverage in negotiations. But don’t think he’s safe from offer sheets – teams could potentially go up to $4.67 million without giving up a first-rounder.