NY Rangers Projected To Have Plenty of Cap Space Flexibility

The New York Rangers are going to have a lot of money to spend next offseason.

NY Rangers president and general manager Chris Drury speaks during a press conference to introduce new head coach Mike Sullivan at the MSG Training Center in Tarrytown, New York May 8, 2025. / USA TODAY Network via Reuters Connect

For the first time in Chris Drury’s tenure as president and general manager of the New York Rangers, the team had ample cap space to work with in the offseason.

He made the most of it, upgrading the roster in a major way. The acquisition of Pavel Dorofeyev from the Vegas Golden Knights and subsequent agreement on a seven-year extension worth $11 million annually was the biggest move.

Defensemen depth was upgraded by acquiring Marcus Pettersson from the Vancouver Canucks. The blueline received more help with Sean Durzi as part of the return package from the Utah Mammoth in exchange for Vincent Trocheck.

Oliver Bjorkstrand was signed in free agency to add some more offensive punch to the lineup. Joe Veleno was also signed to round out the bottom-six up the middle at center. The talent level has certainly been improved, and Drury could have a chance to do some damage again next offseason.

How much cap space will Rangers have?

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

As shared by Vincent Z. Mercogliano of The Athletic (subscription required), his projections currently have the Rangers possessing approximately $34.9 million in cap space, with the salary expected to rise to $113.5 million for the 2027-28 campaign.

That amount does come with a bit of a caveat. Mercogliano’s current projections only have 11 locked-in NHL players on the books, accounting for $78.593 million of the salary cap. When taking that into account, $34.9 million all of a sudden doesn’t sound like too much money when basically half the roster needs to be filled.

However, possessing that amount of projected salary cap space means Drury can afford to bring back players who might break out and earn a raise. There are a lot of impending restricted free agents on the roster, headlined by Gabe Perreault, Noah Laba and Will Cuylle, who will have to be negotiated with.

The same goes for Jarslav Chmelar, Tye Kartye and Adam Sykora, who are moving toward restricted free agency themselves and would cost considerably less than their aforementioned teammates.

Rangers can be aggressive next offseason again

Jun 4, 2026; Raleigh, North Carolina, USA; Vegas Golden Knights right wing Pavel Dorofeyev (16) warms up before a game against the Carolina Hurricanes in game two of the 2026 Stanley Cup Final at Lenovo Center. Mandatory Credit: James Guillory-Imagn Images / IMAGN IMAGES via Reuters Connect

Things will be a little easier to navigate knowing the defensemen depth chart is in such great shape. While there are only four forwards under contract, there are five defensemen locked in, including 2026 first-round pick Alberts Smits.

If all New York needs is No. 6 and 7 defensemen, it will enable Drury to focus most of his efforts and money spent on forwards.

It will certainly be interesting to see how everything plays out, but having that amount of cap space will definitely provide the team with some maneuverability to address whatever holes are on the roster.