Rangers finalize Alexis Lafreniere's 7-year deal: sources

The Rangers and right winger Alexis Lafreniere are finalizing a seven-year contract that will carry an average annual value of $7.45 million, a league source confirmed Friday. The deal gives long-term security to the 2020 No. 1 pick and gives the Rangers some salary cap clarity going forward.

After an up-and-down first three NHL seasons, Lafreniere broke out in 2023-24 with a career-high 28 goals and 57 points. He has picked up where he left off this season and has four goals and three assists in seven games. Almost all of Lafrenière's productions came in equal strength.

“I think his confidence has really grown to where he was really dominant in the playoffs last year,” coach Peter Laviolette said. “He started this year the same way.”

Lafreniere's numbers would increase if he were to get consistent power-play time, but the Rangers have one of the best top units in the league without him. He plays on the second power-play unit, but that grouping doesn't get much ice time.

Lafrenière was set to hit restricted free agency with arbitration rights this offseason. With his new deal in the fold, the Rangers have about $66.512 million in committed contracts for next season. The cap is projected to jump to $92 million next season.

While it appears on the surface that Rangers have a significant amount of cap space, a good portion of that will go to superstar goalkeeper Igor Shesterkin, assuming the two sides can reach an agreement. K'Andre Miller, Zac Jones, Kaapo Kakko, Adam Edström, Will Cuylle and Matt Rempe are all pending restricted free agents, and Reilly Smith and Ryan Lindgren are among the team's pending unrestricted free agents.

After Lafrenière's contract was signed, the Rangers will have eight forwards, four defensemen and no goaltenders from the current NHL roster under contract for next season. That means the team needs to fill at least eight more spots to reach 20. New York typically likes to carry 22 healthy skaters, so it will likely want to add more. That's a lot of trade to do with an estimated $25.48 million in space, especially how much could go to Shesterkin and Miller. The team can certainly trade other players to clear space — captain Jacob Trueba is likely in his final season with the team — but with each cap waiver comes a new roster hole.

Cap space will get tight quickly, so locking in Lafrenière at a big but reasonable cap hit is big for general manager Chris Drury and New York's front office. The Rangers are betting that Lafreniere's breakout 2023-24 is a sign of what's to come, and the 23-year-old has made it wise so far this season.

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(Photo: Claus Andersen/Getty Images)