NHL Rumor Mill – November 21, 2025
Could Rangers winger Artemi Panarin head to the KHL next season? Are the Canadiens in a hurry to make a trade? Could the Leafs move Brandon Carlo? Are the Jets willing to trade Brad Lambert? Find out in today’s NHL Rumor Mill.
COULD RANGERS WINGER ARTEMI PANARIN HEAD TO THE KHL NEXT YEAR?
RG.ORG: Sergey Demidov reports former NHL star Alexei Kovalev claims there’s talk that New York Rangers winger Artemi Panarin could leave the league and return to Russia next summer. “I don’t know if it’s true, but that’s what people are saying,” Kovalev said.
Panarin, 34, is in the final season of a seven-year contract with an average annual value of $11.6 million. He recently rejected an offer from the Rangers similar to the two-year, $14 million contract that Anze Kopitar has with the Los Angeles Kings.
If Panarin remains unwilling to re-sign, there’s speculation suggesting the Rangers could approach him about a trade if they’re a playoff bubble team by the March 6 trade deadline.
SPECTOR’S NOTE: Anything’s possible, but Panarin’s preference is likely to remain in the NHL if he becomes an unrestricted free agent on July 1. He won’t get another lucrative long-term contract, but there could be teams willing to pony up $10 million annually on a three-year deal, especially with the salary cap projected to reach $113 million for 2027-28.
THE LATEST CANADIENS SPECULATION
THE ATHLETIC: Pierre LeBrun reports the injury-battered Montreal Canadiens continue to search for a second-line center, but they’re also open to a trade for a winger.

Nashville Predators winger Jonathan Marchessault (NHL Images).
LeBrun doesn’t expect the Canadiens to make a panic move. He pointed out that their management team of Jeff Gorton and Kent Hughes isn’t known for making rash decisions.
The problem is that there are few sellers. The Calgary Flames aren’t moving Nazem Kadri and aren’t in any hurry to trade Blake Coleman. During the summer, the Canadiens had an interest in St. Louis Blues winger Jordan Kyrou, but his no-trade clause kicked in on July 1, and he has no intention of waiving it.
Nashville Predators winger Jonathan Marchessault has surfaced in the rumor mill. The 34-year-old has three years left on his contract with an AAV of $5.5 million, which would scare the Canadiens to some degree.
TVA SPORTS: Speaking of Marchessault, the Predators had two scouts at Thursday’s game between the Canadiens and the Washington Capitals. Neither club will face the Predators in the near future.
SPECTOR’S NOTE: The current Canadiens management tends to acquire players in their mid-to-late twenties with term remaining on their contracts. They tend not to pursue aging stars with expensive contracts, such as Kadri and Marchessault.
Some pundits suggested Predators forward Ryan O’Reilly to address the Canadiens’ need for a reliable second-line center. His $4.5 million AAV through 2026-27 is affordable, but he’s 34 years old and his best seasons are behind him.
COULD THE LEAFS MOVE BRANDON CARLO?
THE ATHLETIC: Earlier this week, Jonas Siegel examined trade candidates for the Toronto Maple Leafs as they attempt to overcome their current struggles. He suggested center Max Domi and defenseman Brandon Carlo could deliver the type of return “to deliver the splash quality that management would be looking for.”
Of the two, Siegel considered Carlo the easiest to trade. He has struggled this season and is currently sidelined. Still, he’s one of those coveted right-shot defensemen who carries an affordable cap hit ($3.45 million) with a year remaining on his contract after this season.
However, trading Carlo would leave a gaping hole on the right side of their blueline, unless they’re getting another right-shot defenseman in return. The Leafs also gave up a lot (Fraser Minten and a first-round pick) to get Carlo. Trading him now for a questionable return would look awful.
SPECTOR’S NOTE: Unless someone loses their mind and offers up a significant return for Carlo, he will likely remain with the Leafs for at least the remainder of this season.
JETS WILLING TO MOVE LAMBERT
DAILY FACEOFF: NHL insider Frank Seravalli reported Thursday that the Winnipeg Jets have given Brad Lambert and his agent permission to speak with other teams about a potential trade.
The 21-year-old center was chosen 30th overall by the Jets in the 2022 NHL Draft. He’s appeared in four games this season, scoring one goal while averaging just over nine minutes of ice time per game.
SPECTOR’S NOTE: Lambert was once a highly-touted prospect, but his stock plummeted during his draft year. His performance has been inconsistent, scoring 55 points in 64 games with the Jets’ AHL affiliate in 2023-24, but only 35 points last season.
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