Rangers address key needs, create cap space on Day 1 of NHL free agency

The Rangers addressed some of their most pressing needs on the first day of NHL free agency Wednesday, inking a long-term contract with a second-line center and padding their goaltending depth while also creating some much-needed salary-cap space with a trade.

One of the most notable names on the free-agent market, center Vincent Trocheck, signed a seven-year, $39.375 million deal — which carries a cap hit of $5.625 million — with the Rangers. Trocheck, who turned 29 earlier this week, is expected to replace Ryan Strome as the Rangers’ No. 2 center behind Mika Zibanejad and to play next to Artemi Panarin.

“It was a hole that we wanted to address,” Rangers president and general manager Chris Drury said on a Zoom call with reporters. “Just excited to have Vincent on board. He’s a real good player, does a lot of different things.”

After dealing backup netminder Alexandar Georgiev to Colorado last week, the Rangers signed Slovakian goalie Jaroslav Halak to a one-year, $1.55 million contract and inked Canadian goalie Louis Domingue to a two-year, two-way deal with an average annual value of $775,000.

With 17 seasons and 556 games of NHL experience, Halak will presumably back up star goaltender Igor Shesterkin. Domingue, who was the story of the Rangers’ first-round series when he stepped up for the Penguins in wake of two goalie injuries, will likely provide depth at AHL Hartford.

“I certainly heard a lot about all his Ranger-killer moments,” Drury said of Halak, who is 24-9-1 with a .927 save percentage, a 2.33 goals-against average and five shutouts in his career against the Rangers. “Excited to have him on our side in the Garden.”

The Rangers also created some much-needed cap space by trading veteran defenseman Patrik Nemeth, a 2025 second-round pick and a conditional future pick to the Coyotes for prospect Ty Emberson, who played with K’Andre Miller for two seasons at the University of Wisconsin.

For the conditional future pick, Arizona has the option of acquiring the Rangers’ 2024 third-rounder or their 2026 second-rounder. The trade relieved the Rangers of Nemeth’s $2.5 million cap hit in each of the next two seasons, which helps create room for a two-year deal for restricted free agent Kaapo Kakko. With so many other holes to fill, Nemeth was a logical buyout or trade candidate.

Drury said he preferred to trade Nemeth rather than buy him out because it created more cap space. He didn’t rule out the possibility of signing a depth defenseman, saying he’s always looking to upgrade where he can. Without Nemeth now, the path to the opening-night roster for top prospects like Zac Jones and Matthew Robertson becomes a lot clearer.

The Rangers may also be on the lookout for what Drury described as a “low-salary, depth center of the [Kevin] Rooney mold” in the coming days. After two seasons with the Rangers, fourth-liner Rooney signed a two-year deal at $1.3 million per as a free agent with the Flames.

As for Tyler Motte, the trade-deadline acquisition the Rangers would’ve liked to keep, Drury said it’s probably too tight to re-sign the energetic winger.

So it was out with the old and in with the new. In addition to losing Rooney, Greg McKegg is headed to Edmonton on a two-year, two-way deal that includes $375,000 guaranteed.

Three of the Rangers’ four trade-deadline acquisitions signed elsewhere, as well. Frank Vatrano signed a three-year deal at $3.65 million per with the Ducks, and Strome, the former Rangers alternate captain, to a five-year contract. Andrew Copp is headed home to play for the Red Wings on a five-year contract with an AAV of $5.625 million. Defenseman Justin Braun is going back to the Flyers, who acquired a 2023 third-rounder from the Rangers in exchange for the veteran defenseman in March, on a one-year deal.