Analyzing the Four Most Efficient NY Rangers Contracts

The New York Rangers salary cap situation is in a pretty great spot.

May 8, 2025; Tarrytown, NY, USA; New York Rangers president and general manager Chris Drury during a press conference to introduce new head coach Mike Sullivan at the MSG Training Center in Tarrytown, New York May 8, 2025. Mandatory Credit: Peter Carr/USA TODAY NETWORK via Imagn Images / IMAGN IMAGES via Reuters Connect

There are a lot of gripes that New York Rangers fans have with how team president and general manager Chris Drury has operated the last few years, and rightfully so.

After setting franchise records with 55 wins and 114 points during the 2023-24 season, en route to the Presidents’ Trophy and a trip to the Eastern Conference Finals, the team has missed the playoffs for two straight years.

His teardown of the roster has disappointed a lot of people, including Vincent Trocheck, who was the latest veteran to be traded, landing with the Utah Mammoth. While it is certainly disappointing to see a franchise that was so close to a Stanley Cup seemingly be so far away in such a short period of time, there is one thing that Drury has done well: cleaning up the salary cap.

The Rangers had a lot of money to spend this offseason and are projected to have a good amount to spend next summer as well. Drury has done a great job of wiping away contracts that held down the team.

Rangers lacking high-end valuable contracts

Apr 5, 2026; New York, New York, USA; New York Rangers defenseman Adam Fox (23) skates against the Washington Capitals during the second period at Madison Square Garden. Mandatory Credit: Danny Wild-Imagn Images / IMAGN IMAGES via Reuters Connect

While New York is littered with fair-value, middle-of-the-road contracts, which has its pros and cons, there are a few deals that stand out as clear wins for the franchise. The biggest winner is the contract of Adam Fox.

Since he signed his extension, the Rangers have gotten a steal. His deal will become all the more valuable with the salary cap on the rise and contracts for defensemen skyrocketing, with Bowen Byram resetting the market this summer and New York Islanders star Matthew Schaefer set to do the same in the near future.

Fox’s current deal received an A+ grade with 99.8% positive value and $23 million surplus. He makes up a large portion of the team’s total surplus of $28 million, with only one other player having double-digit total surplus: right winger Alexis Lafreniere.

His total surplus is $10.1 million with a Positive Value Percentage of 70.3%. His contract received a B+ grade. The only other B+ mark or better on the team is Matthew Robertson, who is set to make $800,000 as either a third-pairing defenseman or the No. 7 defenseman on the roster.

Rangers need to find long-term value in contracts

Apr 4, 2026; New York, New York, USA; New York Rangers left wing Will Cuylle (50) warms up before the first period against the Detroit Red Wings at Madison Square Garden. Mandatory Credit: Danny Wild-Imagn Images / IMAGN IMAGES via Reuters Connect

The problem for New York is that there aren’t many long-term positive contracts on the books. They have fair trades, which means they aren’t extracting much value while other teams are.

The fourth best contract is likely the one held by Will Cuylle. He has the next highest Positive Value Percentage on the team at 87.0%. But he is also on a one-year deal worth $3.9 million, providing $1.9 million of total surplus with a model value of $5.8 million.

Some more positive value could certainly come from Gabe Perreault and Noah Laba, who are on entry-level contracts but are ticketed for full-time NHL roles.