New York Rangers' Complete Guide to Free Agency

The New York Rangers are at the midpoint of an arc in the hockey world, and the upcoming offseason will impact the direction in which the franchise will trend in the coming years.

The Rangers' last two seasons have resulted in losses in both the Stanley Cup (2013-14) and Eastern Conference Final (2014-15), and the team has to find a way to get over the hump in 2015-16.

The salary cap presents the Rangers with a troubling situation, and cap mismanagement puts the team at a severe disadvantage. For the first time in a long time, the Blueshirts should be quiet during free agency, as the team only has to focus on the retention of key restricted free agents.

General manager Glen Sather loves making a splash, and there is always the chance he will throw caution to the wind in pursuit of a final Stanley Cup before leaving the spotlight.

With that in mind, here is a guide to the Blueshirts' situation as they prepare to enter free agency.

Depth Chart

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Center:

1. Derick Brassard
2. Derek Stepan
3. Kevin Hayes
4. Dominic Moore
5. Oscar Lindberg

Left Wing:

1. Rick Nash
2. Chris Kreider
3. Tanner Glass
4. Ryan Bourque

Right Wing:

1. Mats Zuccarello
2. J.T. Miller
3. Jesper Fast
4. Emerson Etem

Left Defense:

1. Ryan McDonagh
2. Marc Staal
3. Keith Yandle
4. Brady Skjei

Right Defense:

1. Dan Girardi
2. Dan Boyle
3. Kevin Klein
4. Dylan McIlrath

Goaltending:

1. Henrik Lundqvist
2. Antti Raanta
3. Mackenzie Skapski
4. Cedrick Desjardins

Salary-Cap Status

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 The NHL's salary cap for 2015-16 is $71.4 million. The Rangers have $58.8 million tied to 15 players, leaving $12.6 million to fill eight roster spots. The following roster players are signed: 

Forwards

• Centers: Derick Brassard, Kevin Hayes and Dominic Moore
• Left Wingers: Rick Nash, Chris Kreider and Tanner Glass
• Right Wingers: Mats Zuccarello 

Defense

• Marc Staal, Dan Girardi, Ryan McDonagh, Keith Yandle, Dan Boyle and Kevin Klein 

Goalies

• Henrik Lundqvist and Antti Raanta

Who's a Free Agent?

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The New York Rangers have a number of unrestricted and restricted free agents. Here is a look at each player, their age and cap hit from the 2014-15 season:

Restricted Free Agents:

• (25) Derek Stepan, $3.075 million
• (22) J.T. Miller, $894,166
• (23) Emerson Etem, $870,000
• (23) Jesper Fast, $805,000

Unrestricted Free Agents:

• (40) Martin St. Louis, $5.625 million
• (27) James Sheppard, $1.3 million
• (29) Michael Kostka, $650,000
• (30) Matt Hunwick, $600,000

In addition, here is a general listing of the free agents from the Hartford Wolf Pack:

RFA:

• Mat Bodie
• Conor Allen
• Dylan McIlrath
• Oscar Lindberg
• Marek Hrivik

UFA:

• Danny Kristo
• Jason Missiaen
• Chris Bourque
• Joey Crabb
• Chris Mueller

Biggest Needs

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1. Retaining RFAs

The primary focus of the Rangers will be re-signing their restricted free agents. J.T. Miller, Emerson Etem and Jesper Fast should be easy to negotiate with, but dealing with Stepan could be a bit difficult.

The 25-year-old pivot has two more years until he can hit unrestricted free agency, and at that point, the NHL's salary cap should be higher. That means he can command a proportionally higher salary that will be in line with the state of the NHL's finances.

For that reason, he may want to take a one-year deal and sign a long-term deal next summer.

Ideally the Rangers want to keep the cost down, but it would be wise to sign Stepan to a six-year deal that pays him an average salary of $6.25 million a season. He's increased his production in every 82-game season, is coming off a solid playoff run and has established himself as a player who can be a top two-way center at the NHL level.

The Rangers can add some performance bonuses to the deal to sweeten the pot, but he is certainly due for a significant raise.

2. Top-6 Winger

The Rangers are not re-signing Marty St. Louis, and that means a top-six roster spot will be up for grabs. Carl Hagelin was a strong candidate to move up, but he was dealt to the Anaheim Ducks in exchange for Emerson Etem.

That means Miller could slot up with Etem going to the third line, but the Rangers could stand to target a winger who can help replace the lost offense of St. Louis and Hagelin.

Miller and Etem have the potential to be decent offensive contributors in 2015-16, but a win-now Rangers squad isn't going to chance it on a pair of youngsters.

Other Teams' Free Agents to Target

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1. Justin Williams, Los Angeles Kings: Williams fits the bill of what the Rangers need, but he could be too rich for their blood. The three-time Stanley Cup winner will turn 34 in October and is coming off a deal that paid him $3.65 million a season. He has scored at least 18 goals and 40 points in each of the last four 82-game seasons and is a money playoff performer. He has the skill to slot in on the top line and would be a great replacement for Martin St. Louis.

2. Mike Santorelli, Nashville Predators: According to TSN's Darren Dreger (h/t ProHockeyTalk), the Rangers tried signing Santorelli last summer, but he took a deal for $1.5 million from the Toronto Maple Leafs. He is a forward who can play all three positions, is solid at the faceoff dot and solid in his own zone. He could be a nice addition for the bottom six and would be a more versatile version of Lee Stempniak.

3. Shawn Matthias, Vancouver Canucks: Matthias tallied 18 goals spending the majority of the season as a third-liner for the Canucks, and he could be a great add for New York if played in the top nine. The 6'4", 223-pound winger would be a fit for Alain Vigneault's system because he is a mobile two-way forward with size. His versatility would be a plus, as the Rangers like having two centers on the ice for each faceoff.

Predictions

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For a full financial breakdown of these predictions, check out my custom roster at Hockey's Cap:

• Sign Derek Stepan to a six-year, $37.5 million deal worth $4.33 million a season.
• Sign J.T. Miller to a two-year, $2.75 million deal worth $1.375 million a season.
• Sign Emerson Etem to a three-year, $3 million deal worth $1 million a season.
• Sign Jesper Fast to a two-year, $2.25 million deal worth $1.125 million a season.
• Sign Matt Hunwick to a one-year deal worth $800,000.
• Sign Shawn Matthias to a one-year deal worth $2.2 million.
• Trade Kevin Klein for cap space.
• Brady Skjei and Oscar Lindberg make the opening-night roster.

These moves would leave the Rangers with a 22-man roster with a payroll of roughly $70.6 million and $800,000 in cap space.

The Rangers' Free-Agency Period Will Be Frustrating

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The New York Rangers' free-agency period is going to be like the introductory round of The Price is Right. A player will be highlighted for a number of bidders and the Rangers will show interest before someone comes in and trumps their bid by $1 or more.

I expect Sather to try to sign a winger within the first few days because he probably has a sense of what it will cost to lock up his restricted free agents.

Look for the Rangers to have a short list of targets to fill the void left in goal scoring by Martin St. Louis and Carl Hagelin, and worry about clearing cap space later. Klein is a player whom the Blueshirts could move because his $2.9 million cap hit is way too expensive for the third pairing.

Overall, the Blueshirts won't be overly active, and their search to fill a singular spot could get frustrating.

All stats via Hockey-Reference.com unless otherwise noted. Contract information from General Fanager.