The Detroit Red Wings are poised to make significant moves as the March 6 trade deadline approaches, driven by a combination of ample salary cap space, attractive assets for trade, and a strong desire to acquire a high-impact player. General manager Steve Yzerman, who has primarily been a seller or remained inactive at past deadlines, is preparing to take a proactive approach this year, as the Red Wings position themselves as potential playoff contenders.
With approximately $13 million in cap space—equivalent to nearly $60 million when prorated to the trade deadline—the Red Wings have the financial flexibility to pursue key additions, specifically a top-six forward and a second-pair defenseman. One of the most appealing candidates could be New York Rangers left wing Artemi Panarin, known for his offensive prowess throughout his 11-season career. As the Rangers sit outside the playoff picture, Panarin’s future with the team appears uncertain, particularly since he is in the final year of a lucrative $11.6 million contract.
Panarin, who has a no-movement clause, will have significant control over any potential trade. Given the Red Wings’ current competitiveness in the Eastern Conference, Detroit may become a desirable landing spot for him. Additionally, a reunion with Patrick Kane, his former teammate in Chicago and in New York, might also entice Panarin.
Yzerman has a wealth of young prospects and roster players, along with almost all draft picks for the next three years, which could appeal to teams looking to rebuild. Although the Red Wings are believed to be interested in Panarin, it’s uncertain whether Yzerman is willing to part with valuable assets for a player who would only be a rental. Historically, he has shown restraint in similar situations, recently opting against trading for defensemen Quinn Hughes and Rasmus Andersson, despite their availability.
Ideally, Yzerman would look for an extension to be agreed upon at the time of the trade, similar to his successful acquisition of Alex DeBrincat in July 2023. However, Panarin may prefer to test the free agency waters on July 1, creating a competitive bidding situation rather than locking in an extension prematurely.
Even at the age of 34, Panarin remains a formidable talent, currently tying for 12th in the league with 56 points and demonstrating consistent scoring ability over the years, including a remarkable 120-point season two years prior. As the NHL gears up for the trade freeze from February 4 to 22 during the Olympic break, teams will be looking to solidify their rosters.
The Red Wings could be on the verge of a transformative trade, and with increasing stakes as they aim to end their nine-year playoff drought, the upcoming weeks will prove pivotal in determining the direction of the franchise.