The New York Rangers have locked in defenseman Will Borgen with a five-year, $20.5 million contract extension, a move that is drawing considerable praise from analysts. The deal, which carries an average annual value (AAV) of $4.1 million, demonstrates the Rangers' confidence in the 28-year-old as a key piece of their defensive core.
Borgen, who was acquired by the Rangers on December 18th in a trade with the Seattle Kraken for forward Kaapo Kakko, has quickly become a valuable asset on the blue line. In addition to Borgen, the Rangers received a third-round and a fifth-round pick in the 2025 NHL Draft. Prior to joining the Rangers, Borgen was on a two-year, $5.4 million contract with the Kraken.
Head Coach Peter Laviolette has lauded Borgen's impact since his arrival. "He's been outstanding since he's been here," Laviolette said. "For me, he's a big reason why things have quieted down a little bit. He skates well, he's physical, he plays with an edge, and he doesn't back down from anybody".
Borgen's contract includes a full no-movement clause through the remainder of the 2024-25 season. Following that, the agreement transitions to a modified no-trade clause for the duration of the contract. Specifically, Borgen will have full no-trade protection for the first two years of the extension, which then reduces to a 10-team no-trade list, then a 6-team no-trade list before having no protection at all in the final year.
Since joining the Rangers, Borgen has typically been paired with veteran K'Andre Miller, forming a reliable second defensive pairing. His presence has been particularly crucial following the trade of former captain Jacob Trouba to the Anaheim Ducks, solidifying the Rangers' defensive overhaul.
Before being claimed by Seattle in the 2021 Expansion Draft, Borgen was drafted 92nd overall in 2015 by the Buffalo Sabres, where he played 14 games over two seasons. Throughout his NHL career, Borgen has played 264 games, accumulating 58 points (10 goals, 48 assists) and 607 hits. In 50 games this season, split between the Kraken and Rangers, he has recorded five points (two goals, three assists). With the Rangers, he has averaged 18:35 of ice time per game.
Some observers initially expressed "sticker shock" at the $4.1 million cap hit, but upon closer inspection, it appears to be a reasonable investment. As one analyst noted, it represents approximately 4% of the projected $95 million cap ceiling, a fair price for a solid second-pairing defenseman. Moreover, with the expectation of increased cap ceilings in the coming years, the contract's impact may be less significant than initially perceived.
Overall, the Rangers' extension of Will Borgen appears to be a shrewd move that addresses their current defensive needs while also providing long-term stability. Borgen's physicality, skating ability, and willingness to engage make him a valuable asset, and his reasonable cap hit should allow the Rangers to continue building a competitive team around him.
