With the 2025 NHL Draft just around the corner in Los Angeles, the New York Rangers are facing a major decision: whether to use their 12th overall pick or defer it to 2026. They have five days left to decide, as they must inform the Pittsburgh Penguins who currently hold conditional rights to the selection at least 48 hours before the draft begins.
This situation stems from a January trade in which the Rangers acquired J.T. Miller from the Vancouver Canucks, sending their 2025 first-round pick in return. Vancouver later dealt that pick to Pittsburgh. However, the deal came with a top-13 protection clause, allowing the Rangers to retain the pick if it landed within that range which it did, as they earned the 12th overall spot after a disappointing season.
If New York keeps the pick and selects on draft night, their 2026 first-rounder will automatically transfer to the Penguins, removing the protection. But holding onto this year’s pick comes with a trade-off: they would no longer be eligible to extend offer sheets to restricted free agents, due to NHL rules requiring teams to own both their first- and third-round picks in order to do so.
While offer sheets are rare and difficult to pull off especially given New York’s current salary cap limitations—keeping the option available could have value. Still, the prospect of drafting a high-end talent at No. 12 may be too good to pass up. The Rangers haven’t picked this high since selecting Alexis Lafreniere first overall in 2020, and they’d ideally like to be drafting much later in 2026 if things go well.
Ultimately, the Rangers must weigh short-term flexibility against the long-term potential of a premium draft pick. The clock is ticking, and their decision could shape the franchise’s direction for years to come.
