Report: Rangers Working on Huge Contract for Former No. 1 Pick

The New York Rangers have been working on some significant contract negotiations, but only one of them has been widely reported.

That's the reported $88 million contract offer the Rangers submitted to upcoming free agent goaltender Igor Shesterkin, one that the superstar goalie rejected.

It turns out, however, that Rangers general manager Chris Drury "is playing chess" behind the scenes, according to Daily Faceoff's Frank Seravalli.

Reporting on Thursday evening, Seravalli revealed that New York has not only entered contract talks with Shesterkin, but they have already entertained some discussions with a former No. 1 overall pick by the Rangers.

That'd be Alexis Lafreniere, who is coming off a true breakout year last season and already had a strong start to the 2024–25 season, scoring a goal and assisting another on Wednesday's season opener.

Seravalli reported that the Rangers and Lafreniere’s camp are working toward a deal worth upwards of $8 million per season and most definitely north of $7 million per season.

"With so much focus on Igor Shesterkin, #NYR have also been working on a deal with Alexis Lafreniere going back to summer," Seravalli wrote on X. "Talks ongoing.

"Different options on the table. One of them: 8 years x $8 mil range."

According to Seravalli, the Rangers shifted their focus back to Lafreniere after their failed attempts to finalize a contract with Igor Shesterkin before the season.

Lafreniere, who just turned 23, is coming off a career-best season with 28 goals and 29 assists for 57 total points. He followed that with 14 points in 16 playoff games last spring.

Seravalli noted that one key factor still being negotiated is the contract’s average annual value (AAV). The insider, however, made sure to clarify that Lafreniere's new contract will start at $7 million AAV.

"I can guarantee you this," Seravalli said. "If Alexis Lafreniere is re-signing in New York, you won't see an AAV under $7 (million) depending on what that term is.

"Certainly something to keep in mind."

The Rangers are about to enter a crucial summer as they will face negotiations with many important players scheduled to hit free agency on July 1 , including Lafreniere, Shesterkin, Kaapo Kakko, and K’Andre Miller.

Related: Report: Former Rangers' No. 1 Pick Not Expected to Talk Extension Until June