The 2025-26 NHL season is heating up both on and off the ice, with several key storylines developing around player contracts and potential trades. From a potential stalemate in New York to activity in Buffalo, Philadelphia and beyond, here's a breakdown of the latest rumors circulating around the league.

Panarin's Contract Situation in New York

Artemi Panarin and the New York Rangers are reportedly at odds regarding a contract extension. According to Elliotte Friedman, the Rangers approached Panarin with an offer similar to Anze Kopitar's deal with the Los Angeles Kings, featuring a shorter term and a reduced cap hit. However, the 33-year-old Panarin declined, suggesting his camp is aiming for a more lucrative, long-term contract. This sets the stage for a potentially tense negotiation as Panarin enters the final year of his current contract, worth $81.5 million. His future with the Rangers remains uncertain as the team evaluates whether his demands align with their long-term plans. Friedman has questioned whether the Rangers believe Panarin's contract demands make sense for the team.

Trade Winds Blowing

Several players are finding themselves in the rumor mill as teams evaluate their rosters early in the season.

• Owen Tippett (Philadelphia Flyers) and Nick Robertson (Toronto Maple Leafs): The Flyers are reportedly willing to listen to offers for Owen Tippett, although a trade is not considered imminent. Meanwhile, Nick Robertson's name has surfaced in trade discussions once again, with reports suggesting that Maple Leafs GM Brad Treliving has engaged in talks with other teams. Robertson is supposedly seeking more opportunities, even if it means finding a new team. Potential destinations for Robertson could include the Pittsburgh Penguins and Columbus Blue Jackets.
• Alex Tuch and Tage Thompson (Buffalo Sabres): The Sabres' underwhelming start to the season (1-3-0) has fueled speculation about potential roster changes. Alex Tuch's agent, Brian Bartlett, has indicated that contract negotiations with the Sabres have been put on the "back burner". While Tuch has expressed his desire to stay in Buffalo, his availability as an unrestricted free agent next summer makes him an attractive trade target. Tage Thompson is another Sabre who would garner interest from other teams. The New Jersey Devils are rumored to be a potential landing spot for Thompson.
• Brennan Othmann (New York Rangers): Despite being a highly-touted prospect, Brennan Othmann has struggled to make an impact with the Rangers and was recently sent down to the AHL. There is speculation that the Rangers may be open to trading Othmann to give him a fresh start.

Oilers Eyeing Tuch and Kempe

The Edmonton Oilers are reportedly monitoring the situations of Alex Tuch and Adrian Kempe. Discussions surrounding Tuch's contract are currently on hold, but retaining the winger is expected to be expensive for the Sabres. The Oilers are also said to be interested in Kempe, who has yet to sign an extension with the Los Angeles Kings. Kempe reportedly wants to remain with the Kings, and the team wants to keep him, but his contract demands are around $11 million per season.

Around the League

• Shane Pinto (Ottawa Senators): Extension talks between the Ottawa Senators and center Shane Pinto are expected to resume soon. Pinto is entering the final year of his contract, and both sides are hoping to reach an agreement on a new deal.
• Kyle Davidson (Chicago Blackhawks): The Chicago Blackhawks are reportedly moving towards an extension with general manager Kyle Davidson. Davidson has overseen the team's rebuild and has made several key acquisitions and extensions, including those of Ryan Donato, Frank Nazar, and Spencer Knight.
• Trey Augustine (Detroit Red Wings): Goalie prospect Trey Augustine is currently playing at Michigan State. If he decides to stay in school for his senior year, he will become a free agent in the summer of 2027.