Rangers working on significant contract extension with Alexis Lafreniere: report

Apparently Igor Shesterkin is not the only star player the New York Rangers are negotiating a new contract with. Reports surfaced Friday that the Rangers are engaged in contract extension talks with Alexis Lafreniere, who can become a restricted free agent after this season.

In fact, Frank Seravelli of Daily Faceoff reported that the Rangers offered Lafreniere a whopping eight-year extension already.

“While all of the focus has been on Igor Shesterkin in New York, the New York Rangers have also been doing a lot of work on Alexis Lafreniere,” Seravalli reported . “I’m told that they made some pretty significant progress over the summer. … This is going to be one of the biggest deals that Lafreniere gets the opportunity to sign. … Sources indicated that discussions revolved around an eight year deal at $8 million plus per year.”

Rangers general manager Chris Drury said in September that it was his wish to keep Shesterkin and Lafreniere with the Rangers “a long time.”

“In our eyes, he continues to get better and better,” Drury said about Lafreniere . “I’m not going to get into negotiations, but he certainly is an exciting young piece for us and one that we hope, just like Igor, is here for a long time.”

Lafreniere, who turned 23 on Friday, took a major step in his development last season, scoring 28 goals and 57 points, both NHL career highs. He added eight goals and 14 points as one of the best players in New York’s run in the Stanley Cup Playoffs, which got cut short in the Eastern Conference Final.

He’s off to a fast start this season, scoring a highlight-reel goal and adding an assist in the Rangers’ 6-0 win opening night against the Pittsburgh Penguins.

Lafreniere makes $2.325 million this season and can’t become an unrestricted free agent until the summer of 2027. However, he is arbitration eligible next offseason and it’s clear the Rangers want to lock him up now with a new deal that would buy out several of his UFA years.

If the Lafreniere reports are true, then Drury has been working in a parallel universe, trying to sign both Shesterkin and the young forward. It’s been reported that Shesterkin already turned down an eight-year, $88 million contract offer that would’ve made him the highest-paid goalie in NHL history.

The 28-year-old who can be a UFA at season’s end refused to answer questions about contract negotiations after he shut out the Penguins.

Related: Rangers record-setting contract offer rejected by Igor Shesterkin: NHL Insider

Rangers GM Chris Drury has his work cut out for him

The sooner Drury and the Rangers can sign Lafreniere and Shesterkin, the better. Their signings would give Drury a better idea of where the Rangers stand in terms of the salary cap ceiling for the 2025-26 season and could consider future contracts or trades with current players on the roster.

As Seravalli mentioned in his report, Lafreniere is just scratching the surface of his NHL potential. That could mean the longer the Rangers wait on signing him, the higher his price tag could go. Playing on a line with Artemi Panarin and Vincent Trocheck, there’s no telling what heights he can reach this season.

So, Drury will have to seriously think about what he wants this team to look like for the foreseeable future. If he wants to keep Shesterkin, he’ll have to spend over $11 million per season on him, and tack on at least another $8 million for Lafreniere. Also keep in mind that players like K’Andre Miller, Will Cuylle, Kaapo Kakko, and even Matt Rempe will all be searching for new contracts after this season. Miller’s likely will be a substantial raise from his current $3.872 million AAV.

Panarin, Jacob Trouba, and Braden Schneider will all need contracts the following year, if Drury chooses to keep them. Trouba figures to be a cap casualty and could be traded next offseason with one year at $8 million left on his contract.

“I can guarantee you this: If Lafreniere is re-signing in New York, you won’t see an AAV under $7 million, depending on what that term is,” Seravalli stated.

One comparable for Lafreniere’s deal is the one signed by Detroit Red Wings forward Lucas Raymond. He was chosen fourth overall in the 2020 draft, just three picks after Lafreniere. Raymond had 31 goals and 72 points last season for Detroit, not too far off from Lafreniere’s totals. He recently signed an eight year, $8.075 AAV contract . That should serve as a decent ballpark for Lafreniere’s extension.

So, while Lafreniere is more than deserving of a big pay day, Drury is going to need to tread carefully when hammering out these contracts. Every dollar is going to matter, especially when paying out some massive deals to some of the best players, which will hopefully serve as New York’s future core for years to come.

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