NY Rangers Rumors: Latest Trade Buzz at the Start of Free Agency

The New York Rangers fell short of their Stanley Cup goal in the Eastern Conference Final this past season, and like many established contenders, they find themselves with salary-cap issues as the 2015-16 season approaches.

Those issues were at least part of the reason the Rangers traded speedy forward Carl Hagelin to the Anaheim Ducks and backup goaltender Cam Talbot to the Edmonton Oilers last week.

However, newly appointed general manager Jeff Gorton has more work to do in free agency. Glen Sather stepped down from the position Wednesday after 15 years on the job. According to New York Post hockey guru Larry Brooks, Sather will retain the title of team president.

Chris O'Meara/Associated Press

The Florida Panthers offered the Rangers forward Jimmy Hayes as part of a package when they made a bid to acquire Talbot before he was traded last week, according to Brooks. Hayes is the older brother of Rangers forward Kevin Hayes.

The Rangers ultimately decided to move Talbot to the Oilers for three draft picks. The Rangers also sent one of their draft picks to the Oilers.

In addition to the Oilers and the Panthers, the Flames, Sharks, Sabres and Stars had also shown an interest in making a deal with the Rangers for the backup goalie.

Jimmy Hayes was traded from the Panthers to the Boston Bruins Wednesday. He scored 19 goals and 16 assists in 72 games for the Panthers last season. It was his most productive season in the NHL.

The Rangers have also let Martin St. Louis know that they will not be bring him back for the upcoming season. The veteran forward suffered through a slump in the second half of the 2014-15 campaign and scored just seven goals in the final 35 games. He only lit the lamp once in the playoffs.

Brooks reported the Rangers told St. Louis they are not interested in re-signing him and that the Pittsburgh Penguins and New Jersey Devils have an interest in exploring the possibility of signing St. Louis.