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The New York Rangers came up one number short of winning the NHL Draft Lottery on Tuesday, which would have given them the No. 1 pick at the draft in Buffalo on June 26-27. Instead, they not only missed out on the top pick, they ended up dropping to No. 5, as low as they could fall after finishing 30th in the overall standings.
The Toronto Maple Leafs, who won the lottery and jumped from fifth to first, likely will select forward Gavin McKenna, who tore up junior hockey in 2024-25 and had an excellent freshman season at Penn State. But projections after that are all over the board.
The San Jose Sharks, Vancouver Canucks and Chicago Blackhawks, who have the three picks before New York, all have different needs and are at different stages of their rebuilds. Rangers GM Chris Drury, who told fans in a letter on Jan. 16 that the Blueshirts were beginning a “retool” — but specifically wouldn’t call it a “rebuild” — has plenty of flexibility as he ponders what to do in the opening round.
The Rangers also own the Dallas Stars’ first-rounder, which will be anywhere from 23-27 (they’ll know the actual spot after the second round of the playoffs). New York will also have about $27 million in salary-cap space, according to PuckPedia, giving Drury plenty of wiggle room if he needs to retain some salary to get a trade done.
Will Drury keep his picks, try to find a way to move up in the first round, trade back to add more draft capital to help a team that desperately needs quality depth and talent, or try to swing a big deal? The answer will have a major effect on the Rangers’ near-term future.
Wendell Cruz-Imagn Images
Picking fifth, something the Rangers have never done since the draft was instituted in 1963, was the worst possible outcome for the Rangers at the lottery. But that’s not a terrible spot to be in. Nor does it mean they can’t come up with an impact player at that slot.
McKenna is projected to go No. 1 overall, ahead of Sweden forward Ivar Stenberg, who had an excellent season playing against men in the SHL. A strong group of defensemen — lefties Carson Carels and Alberts Smits, and righties Chase Reid, Keaton Verhoeff and Daxon Rudolph — are rated near the top of the draft board. Center Caleb Malhotra, son of former Ranger first-rounder Manny Malhotra (No. 7 overall in 1998) rocketed up the draft ranks late this season. The Rangers need a center, but there’s no guarantee he’ll still be available when they pick.
Malhotra is committed to Boston University (the alma mater of Drury and coach Mike Sullivan), and it’s unclear whether he’d be ready to step into an NHL lineup next season. Another BU center, Tynan Lawrence, also might be an option at No. 5 overall.
The Rangers picked in the top 10 four times since 2017. Forward Alexis Lafreniere (No. 1 overall in 2020) is the only one of the four still with the Rangers. and he never reached 30 goals nor 60 points in six NHL seasons.
Russell LaBounty-Imagn Images
If the Rangers decide that the risk of not getting Stenberg, Malhotra, Verhoeff, or Reid is too great to wait for their scheduled pick, Plan B would be to see whether they can make a deal with the Sharks, Canucks or Blackhawks to move up.
The Sharks appear to be the likeliest trade partner. San Jose has a slew of talent up front, headed by 2024 No. 1 pick Macklin Celebrini and including forward Will Smith and center Michael Misa, who went No. 2 in last year’s draft.
But the Sharks didn’t make the Stanley Cup Playoffs this season because of their defensive problems, and lack of a true No. 1 defenseman. A deal between Drury and fellow BU alum Mike Grier, his counterpart in San Jose, could make sense.
In exchange for sending the No. 2 pick to the Rangers, Grier could reasonably expect a package that includes the No. 5 selection, restricted free agent defenseman Braden Schneider (No. 19 overall in 2020) and perhaps the Rangers’ other first-rounder. This lets the Rangers land the player they most covet, and gives the Sharks a young defenseman with NHL experience and the chance to take one of the top-regarded blueliners available in this year’s draft to bolster their D corps.
It’s a big price, but one Drury may want to explore.
Jeff Le-Imagn Images
Let’s face it: The Rangers have a serious talent shortage. If Drury can’t make a deal with a team ahead of him and the players at the top of New York’s wish list are gone, would the GM be willing to trade down?
One potential partner would be the St. Louis Blues, who own the 11th and 15th picks in the first round. Drury would certainly want both of those picks and perhaps something more. Or maybe that No. 5 pick is used in a bigger package to trade back and also land Robert Thomas or Jordan Kyrou, since each Blues forward is rumored to be on the block this offseason.
The Washington Capitals also own two first rounders, Nos. 16 and 18. But those might be too low for the Rangers liking — and it’s doubtful that the Caps would include one of their prized prospects in such a deal.
Brad Penner-Imagn Images
There’s another possibility for Drury: Use the No. 5 pick (and maybe his other second-rounder) as the base to explore the trade market for a big-swing move.
Maple Leafs captain Auston Matthews has two years remaining on his contract, which carries a $13.5 million cap hit. However, he sure seemed non-committal about his long-term future in Toronto when this season ended. Perhaps the idea of playing on a line with McKenna convinces Matthews to see a brighter future in Toronto, one with new GM John Chayka and senior executive adviser of hockey operations Mats Sundin trying to revive the Maple Leafs after this season’s collapse.
Or Matthews, who turns 29 before the start of next season, could push for a trade and a new start. The Rangers don’t have a lot to offer Toronto, but starting off with the No. 5 selection in the draft certainly isn’t a bad place to begin talks. Lafreniere, and perhaps New York’s other first-rounder this year, likely would be in play. Maybe Vincent Trocheck is a fit.
The same likely would be true of Brady Tkachuk, though the Ottawa Senators captain says he has no interest in leaving — for New York or anywhere else.
The Rangers desperately need to replenish their prospect pool, and picking fifth could provide a big piece for the future. It’s Drury’s stated desire in this retool to land young NHL players, those that are NHL ready, and draft picks. But he could pivot if a player such as Matthews was a legitimate trade option.
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The Toronto Maple Leafs, who won the lottery and jumped from fifth to first, likely will select forward Gavin McKenna, who tore up junior hockey in 2024-25 and had an excellent freshman season at Penn State. But projections after that are all over the board.
The San Jose Sharks, Vancouver Canucks and Chicago Blackhawks, who have the three picks before New York, all have different needs and are at different stages of their rebuilds. Rangers GM Chris Drury, who told fans in a letter on Jan. 16 that the Blueshirts were beginning a “retool” — but specifically wouldn’t call it a “rebuild” — has plenty of flexibility as he ponders what to do in the opening round.
The Rangers also own the Dallas Stars’ first-rounder, which will be anywhere from 23-27 (they’ll know the actual spot after the second round of the playoffs). New York will also have about $27 million in salary-cap space, according to PuckPedia, giving Drury plenty of wiggle room if he needs to retain some salary to get a trade done.
Will Drury keep his picks, try to find a way to move up in the first round, trade back to add more draft capital to help a team that desperately needs quality depth and talent, or try to swing a big deal? The answer will have a major effect on the Rangers’ near-term future.
Rangers options in 1st round at 2026 NHL Draft
Keep the No. 5 pick
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Wendell Cruz-Imagn Images
Picking fifth, something the Rangers have never done since the draft was instituted in 1963, was the worst possible outcome for the Rangers at the lottery. But that’s not a terrible spot to be in. Nor does it mean they can’t come up with an impact player at that slot.
McKenna is projected to go No. 1 overall, ahead of Sweden forward Ivar Stenberg, who had an excellent season playing against men in the SHL. A strong group of defensemen — lefties Carson Carels and Alberts Smits, and righties Chase Reid, Keaton Verhoeff and Daxon Rudolph — are rated near the top of the draft board. Center Caleb Malhotra, son of former Ranger first-rounder Manny Malhotra (No. 7 overall in 1998) rocketed up the draft ranks late this season. The Rangers need a center, but there’s no guarantee he’ll still be available when they pick.
Malhotra is committed to Boston University (the alma mater of Drury and coach Mike Sullivan), and it’s unclear whether he’d be ready to step into an NHL lineup next season. Another BU center, Tynan Lawrence, also might be an option at No. 5 overall.
The Rangers picked in the top 10 four times since 2017. Forward Alexis Lafreniere (No. 1 overall in 2020) is the only one of the four still with the Rangers. and he never reached 30 goals nor 60 points in six NHL seasons.
Trade up
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Russell LaBounty-Imagn Images
If the Rangers decide that the risk of not getting Stenberg, Malhotra, Verhoeff, or Reid is too great to wait for their scheduled pick, Plan B would be to see whether they can make a deal with the Sharks, Canucks or Blackhawks to move up.
The Sharks appear to be the likeliest trade partner. San Jose has a slew of talent up front, headed by 2024 No. 1 pick Macklin Celebrini and including forward Will Smith and center Michael Misa, who went No. 2 in last year’s draft.
But the Sharks didn’t make the Stanley Cup Playoffs this season because of their defensive problems, and lack of a true No. 1 defenseman. A deal between Drury and fellow BU alum Mike Grier, his counterpart in San Jose, could make sense.
In exchange for sending the No. 2 pick to the Rangers, Grier could reasonably expect a package that includes the No. 5 selection, restricted free agent defenseman Braden Schneider (No. 19 overall in 2020) and perhaps the Rangers’ other first-rounder. This lets the Rangers land the player they most covet, and gives the Sharks a young defenseman with NHL experience and the chance to take one of the top-regarded blueliners available in this year’s draft to bolster their D corps.
It’s a big price, but one Drury may want to explore.
Trade down
You must be registered for see images attach
Jeff Le-Imagn Images
Let’s face it: The Rangers have a serious talent shortage. If Drury can’t make a deal with a team ahead of him and the players at the top of New York’s wish list are gone, would the GM be willing to trade down?
One potential partner would be the St. Louis Blues, who own the 11th and 15th picks in the first round. Drury would certainly want both of those picks and perhaps something more. Or maybe that No. 5 pick is used in a bigger package to trade back and also land Robert Thomas or Jordan Kyrou, since each Blues forward is rumored to be on the block this offseason.
The Washington Capitals also own two first rounders, Nos. 16 and 18. But those might be too low for the Rangers liking — and it’s doubtful that the Caps would include one of their prized prospects in such a deal.
Swing big
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Brad Penner-Imagn Images
There’s another possibility for Drury: Use the No. 5 pick (and maybe his other second-rounder) as the base to explore the trade market for a big-swing move.
Maple Leafs captain Auston Matthews has two years remaining on his contract, which carries a $13.5 million cap hit. However, he sure seemed non-committal about his long-term future in Toronto when this season ended. Perhaps the idea of playing on a line with McKenna convinces Matthews to see a brighter future in Toronto, one with new GM John Chayka and senior executive adviser of hockey operations Mats Sundin trying to revive the Maple Leafs after this season’s collapse.
Or Matthews, who turns 29 before the start of next season, could push for a trade and a new start. The Rangers don’t have a lot to offer Toronto, but starting off with the No. 5 selection in the draft certainly isn’t a bad place to begin talks. Lafreniere, and perhaps New York’s other first-rounder this year, likely would be in play. Maybe Vincent Trocheck is a fit.
The same likely would be true of Brady Tkachuk, though the Ottawa Senators captain says he has no interest in leaving — for New York or anywhere else.
The Rangers desperately need to replenish their prospect pool, and picking fifth could provide a big piece for the future. It’s Drury’s stated desire in this retool to land young NHL players, those that are NHL ready, and draft picks. But he could pivot if a player such as Matthews was a legitimate trade option.
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