Larry Brooks wrote on Sunday that next summer the Rangers will be in a position to extend Ryan McDonagh's contract since he will be one-year away from being a UFA. (NY Post)
McDonagh is entering the 5th of 6 seasons on his contract that pays him $5.1 million this year but still has a cap hit of $4.7 million. (NY Post)
McDonagh will be 30 when he is eligible to become a UFA in July 2019 and Brooks says that not only will the Rangers have to decide if they want to extend their captain but McDonagh has to decide if he intends to play his entire career with the Rangers. (NY Post)
Brooks says that McDonagh's next deal will probably be in the ballpark of $7.5 million for 8 years. (NY Post)
McDonagh also has a modified no-trade clause for the next two seasons.
Adam Rotter: When Glen Sather was the Rangers GM, multiple "core" players went into the final years of their contract without a deal. Henrik Lundqvist, Mats Zuccarello, Marc Staal and Dan Girardi were all pending UFAs but signed extensions during the season. Ryan Callahan was a pending UFA, came close to an extension but was ultimately dealt for Marty St. Louis.
McDonagh is the Rangers best skater and best player aside from Henrik Lundqvist. Unless something changes or his game dramatically drops off I would assume that the Rangers have every interest in signing their captain to a long-term contract. I would assume that the Rangers will be open to all sorts of different contract proposals with McDonagh. There is the Shattenkirk type of short-term, higher cap hit option, or the longer term deal that might bring a lower cap hit. No matter the term, McDonagh is very likely to get at least $7 million a season in his new deal, but the term will likely dictate how much above $7 million that number goes.