What’s next for the Rangers after their Eastern Conference Final loss to Panthers?

Since 1986, the Presidents’ Trophy has been awarded 38 times.

Only eight of those winners have won the Stanley Cup.

That drought will continue after the Rangers were eliminated Saturday night in Game 6 of the Eastern Conference Final to the Panthers.

The Blueshirts had their best season since winning the Stanley Cup in 1994. They set records in wins (55) and points (114). The Rangers also advanced to the conference final for the second time in three seasons.

During the first two rounds of the playoffs, the Rangers displayed a dominant performance, sweeping the Capitals and defeating the Hurricanes in six games. Their journey seemed unstoppable until the Rangers reached the Eastern Conference Final.

When they faced the Panthers, the Rangers couldn’t overcome the physicality of a bigger and stronger team. What also didn’t help was Panthers goalie Sergei Bobrovsky performed just as well as Rangers netminder Igor Shesterkin in the series.

“Obviously, we thought we could win the whole thing,” Rangers defenseman Adam Fox said. “The goal in training camp was to win a cup and we came up short of that.”

What’s next for the Rangers now that they are entering another offseason looking to win their fifth Stanley Cup in franchise history?

Free agents

Rangers president and general manager Chris Drury must make several critical decisions during the offseason. One is how to add more scoring to the Rangers’ roster.

The Rangers scored five goals in their final three games of the season (all losses). Alexander Wennberg, Jack Roslovic, Erik Gustafsson, Chad Ruhwedel, and Blake Wheeler are unrestricted free agents.

Kaapo Kakko, Ryan Lindgren and Braden Schneider are restricted free agents. That means the Rangers can match any team that signs Kakko, Lindgreen, and Schneider to offer sheets.

In March, Wennberg was traded to the Rangers from the Kraken for a 2024 second and a 2025 fourth-round pick to the Kraken. He recorded five points (one goal and four assists) after he was acquired. Wennberg finished with one goal and one assist in 16 postseason games this year.

The Rangers could potentially move on from Wheeler. He missed the final two months of the regular season before returning for Game 4 against the Panthers due to a lower-body injury on Feb. 15. He was scratched for the final two games of the Eastern Conference Final.

Regarding the restricted free agents, Kakko is a player to watch. His production slipped in 2023-24 at 13 goals and six assists. During the 2022-23 season, Kakko recorded 18 goals and 22 assists.

Extending Shesterkin could be a high priority for the Rangers, as 2024-25 will be the final year of the 28-year-old’s contract and he is worthy of a raise. He had a goals-against average of 2.58 during the regular season and a 2.34 GAA in the postseason.

2024 draft picks

The 2024 NHL Entry Draft will be held in Las Vegas, and the Rangers will have four selections, including the 30th overall pick.

In addition to their first-round pick, the Blueshirts also have a fourth, fifth, and six-round pick. The Rangers’ second-round pick was used in the Wennberg trade last March.

Possible free-agent signings

The Rangers will have $10.3 million of salary cap space entering free agency. If they keep their core together, it will be hard to make wholesale roster changes when $76 million is already on the books for next year.

Artemi Panarin, Vincent Trocheck, and Mika Zibanejad all have no-movement clauses. The Rangers have roster holes, and if they’re going to win a Stanley Cup, they need to inject more score on their lines.

Florida’s Sam Reinhart and Vegas’ Jonathan Marchessault could be potential upgrade options. If the Rangers want to add a wing, Florida’s Vladimir Tarasenko and Vegas’ Anthony Mantha would be great fits.

Reinhart registered 94 points (57 goals and 37 assists) during the regular season. He also helped the Panthers defeat the Rangers and advance to the Stanley Cup Final after scoring eight goals and four assists in 17 playoff games.

Marchessault not only has playoff experience but also won a Stanley Cup and the Conn Smythe Trophy [MVP of the Stanley Cup Playoffs] with the Golden Knights a season ago. He registered 69 points (42 goals and 27 assists) during the regular season.