Capitals rumors: Washington in on Artemi Panarin, with one giant catch

The NHL trade market has been turned on its head after New York Rangers superstar Artemi Panarin was made available. There are no shortage of teams with varying levels of interest in the Russian ahead of the March 6 deadline — and the Washington Capitals are one of them, as Sportsnet’s Elliotte Friedman reported on Friday.

“Washington, I’ve heard they’re only doing this with an extension,” the hockey insider said on the latest episode of the 32 Thoughts podcast. “Rental does not interest them, I’ll say this, some other teams think the Capitals have been aggressively pursuing this. So, we’ll see.

“I’m counting them as legit.”

The Capitals could certainly use a player of Panarin’s pedigree; they currently sit fourth place in the Metropolitan Division and outside of the Eastern Conference playoff race at 26-22-7.

Washington is six points back of the Pittsburgh Penguins and New York Islanders in the division, and eight behind the Montreal Canadiens and Boston Bruins in a fierce wildcard race.

After putting together the best record in the East in 2024-25, the Caps have had significant trouble building on that success. They’ve won just four times in 2026, losing 10 times in that same span.

Panarin could be just the tonic to get Alex Ovechkin and co. back in the thick of the postseason race — and a line featuring the two would be nothing short of electric.

Artemi Panarin, Alex Ovechkin: linemates?

Ovechkin has had a down season by his lofty standards, scoring just 22 goals over 55 games while adding 24 assists. It’s a far cry from his stats last year, when he amassed 44 goals and 73 points in 65 games en route to breaking Wayne Gretzky’s all-time goals record.

Many other Washington forwards are also less effective offensively than last year, while starting goaltender Logan Thompson is now dealing with an injury less than two weeks before he’ll join Team Canada at the 2026 Winter Olympics in Milan.

Overall, it’s been a challenging four months in the nation’s capital, but the franchise is still controlling its own destiny in the playoff race.

Panarin is one of the best playmakers in the National Hockey League, and he’s led the Rangers in scoring every campaign since joining the team in 2019-20. He’s at 57 points in 52 games in 2025-26.

Putting the two Russians on the same line could be the key to getting the best out of Ovechkin for the rest of the season, although it would have to come with an extension, if Friedman’s reporting is accurate.

Panarin is 34-years-old and reportedly looking for a three or four-year pact, which could be outside of Washington’s legitimate Stanley Cup contention window.

Still, the Caps need something down the stretch, and Panarin could be convinced to try and win a Stanley Cup alongside his countryman, who would love to get one more before retirement.

It’ll be interesting to see if GM Chris Patrick makes a significant offer to Rangers’ Chris Drury between now and the first week of March.

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