1:15PM: The Rangers have confirmed that the deal is DeAngelo and the 7th pick overall for Stepan and Raanta.
12:41PM: Darren Dreger tweets that the Rangers are sending Antti Raanta and Derek Stepan to Arizona for a package that could include the 7th overall pack as well as prospect Anthony DeAngelo.
He says that the deal is done pending the trade call.
DeAngelo was the 19th pick in the 2014 draft and had 5 goals and 9 assists last season for Arizona.
He is a right handed shot and had 43 points in 59 games for Syracuse in the AHL.
DeAngelo, 21, was drafted by Tampa Bay but traded to Arizona for a 2nd round pick last year.
He is from Sewell New Jersey and has two-years left on his entry level deal, with a cap hit of $863,333.
With this trade, and the potential retirement of Kevin Klein, the Rangers would have close to $29 million in cap space.
Bob McKenzie tweets that the Rangers were likely concerned with where Stepan's game was going with four-years and $6.5 million per season left.
He says that the Rangers get a "talented if not temperamental" defenseman in DeAngelo, the opportunity to draft a talented player at 7 and also "CAP SPACE."
Adam Rotter: Well the Rangers are finally making moves to the core they have had the last number years and they are able to add a young, skilled, right shot defenseman as well as a big asset in the #7 pick. DeAngelo is an offensive player who is cheap and young but also has the tag of being a one-dimensional player who needs to work on his defensive game. There is some baggage, temper and suspension issues, but DeAngelo is an immensely talented player and someone that will hopefully stay on the right track and join the Rangers new and developing core.
DeAngelo has the potential, down the line, to be like a Kevin Shattenkirk but without the long-term commitment or high cap hit. Is he and #7 enough for Stepan and Raanta? I had hoped that if the Rangers were going to package these two to Arizona it would end up with the Rangers getting one of Arizona's top center prospects in Dylan Strome or Clayton Keller, but the #7 pick is a nice asset. It's a player who likely won't play next year, like Keller and Strome will, but clearly someone that the Rangers will build their future around. The talk was that the Rangers wanted to get a top-flight defenseman for Stepan and DeAngelo isn't that guy, especially considering some of the other defensemen who are rumored to be out there.
It's a deal for the Rangers that, at least on the surface, has a look toward the future and a bit away from the way they have been "going for it" the past few years. That doesn't exactly jive with trying to win right now for Henrik Lundqvist, but the Rangers have been in desperate need of getting younger and this move does accomplish that. It's an interesting move and while winners and losers need to be determined in the minutes after the deal is done, this deal also needs to be looked at the end of the offsesason in the context of whatever else the Rangers are going to do this summer. They have cap space and and as much as I think the Rangers liked and would have liked to kept Stepan, they were able to keep some flexibility by moving Stepan before his no-trade kicked in.