The Colorado Avalanche have been persistently linked to Artemi Panarin this season. The Russian superstar is no longer playing for the New York Rangers as he awaits a trade.
The holdup, it seems, is Panarin’s camp looking to work out a contract extension before a trade is finalized. That seems reasonable as the 34-year-old faces his last chance to cash in on an NHL contract.
That said, the Avalanche are one of the teams Panarin would like to join, according to insider Elliotte Friedman. During the latest edition of the 32 Thoughts Podcast, Friedman expounded on how the Colorado Avalanche, along with the Dallas Stars, are one of Panarin’s preferred destinations.
While adding Panarin would be a dream scenario for the Avalanche, such an addition would happen only under one condition. As Friedman discussed, the Avalanche aren’t in a position to offer Panarin a contract extension. Panarin, therefore, would have to agree to the trade without a contract in place.
That means the Avalanche would land Panarin as a rental only.
While the circumstances wouldn’t preclude Panarin from ever re-signing in Colorado, the likelihood would be that the Russian superstar would hit the open market during the offseason. That situation would ultimately defeat the purpose of the entire song and dance going on at the moment.
Looming extension keeping Avalanche from pursuing Panarin
The Avalanche would be amenable to trading for Panarin as that final piece to chase another Stanley Cup. But the odds of extending him are virtually null due to Cale Makar’s looming contract extension.
Friedman revealed that Panarin wants $50 million over a variable number of years. Teams can break down the number any way that may suit them. The bottom line is that Panarin wants to get paid.
That situation could make it virtually impossible for the math to permit contracts for both Panarin and Makar, considering that Nathan MacKinnon and Martin Necas already have big numbers.
While not impossible, the Avalanche don’t want to paint themselves into a corner. Makar will have to contend with Quinn Hughes for what could be the next record-breaking contract. One of Hughes or Makar will become the highest-paid defenseman in NHL history. Whoever lands that title will depend on who signs first.
Makar is eligible to extend on July 1. That situation means that Makar is more than likely the Avalanche’s top priority at the moment. Any money left over will then be allocated to rounding out the roster.
That’s why having a top-heavy team with multiple players earning eight-figure cap hits won’t fly.
But I will say this: If the Avalanche really wanted to, and Panarin’s people were agreeable to it, the Avalanche could water down the cap hit by spreading it out over more than four or five years. One rumor posited that Panarin wanted a contract that could take him to age 40. That would be a six-year contract at least. Pushing a deal to a max-term eight-year at this point would bring Panarin’s potential cap hit to $6.25 million.
It's a truly risky situation, but one worth considering.