The New York Rangers and forward Derek Stepan are likely hopeful of avoiding an arbitration hearing, but according to the latest report on talks, it seems all-but-certain that the two sides will be unable to get something done ahead of Monday's deadline. Stepan and his representatives have asked for a $7.25 million contract, while the team has countered with $5.2 million, according to Elliotte Friedman of Sportsnet.
Considering the Rangers have approximately $6.9 million in cap space at present, according to GeneralFanager.com, that's no small discrepancy. Of course, these are negotiations, so it's likely that Stepan's high ask was just as optimistic as New York's low, if not quite lowball, offer. As with Washington Capitals goalie Braden Holtby, who avoided arbitration via a recent five-year, $30.5 million deal, a middle ground and likely long-term extension remains possible, especially considering there remains over 30 hours for the two sides to come to an agreement.
The Rangers have shown a willingness to come up on their offer as long as it's part of a long-term deal, the New York Post reported. The Post suggests the team offered a six-year deal with an average annual value in the $6.5 to $6.75 million range. Stepan has allegedly countered with a seven-year deal worth $7.25 to $7.5 million annually.
In the end, Rangers fans likely have little to worry themselves over - Stepan, 25, is too young and too talented not to remain an important piece of the franchise for the foreseeable future - he had 16 goals and 55 points in 68 contests in 2014-15. It seems his status may remain in question for at least a little while longer, though, as the two sides haggle over an agreeable price.
