Rangers re-sign Mika Zibanejad, might be forced to trim roster for salary cap space

New York hands Zibanejad a five-year deal but still finds itself in cap trouble

If the Pittsburgh Penguins think they're up against a financial wall in securing depth for the 2017-18 season, they should take a look at the New York Rangers.

The Big Apple welcomed Kevin Shattenkirk on free agency's first day at the start of the month before the Rangers jettisoned Derek Stepan and Antti Raanta in the trading market. New York then locked up its long-term Stepan successor, 24-year-old center Mika Zibanejad, with a five-year, $26.75 million extension this week. But the Rangers solidified more than a commitment to their young forward by giving Zibanejad an average of $5.35 million per season.

They also ensured that more moves could be on the way thanks to a lack of salary cap space.

As Larry Brooks of the New York Post noted Tuesday, Zibanejad's new deal includes the "fair-market going rate" for an up-and-coming center, even if that center still has a lot, including sustained durability, to prove. But it also furthers New York's cap concerns, or at least magnifies the possibility of what's still to come.

The Blueshirts are projected to start the season with just $445,556 of cap space if they carry eight defensemen (including Alexei Bereglazov) and 14 forwards (including Andersson and Boo Nieves with Jesper Fast on IR).

Working with such limited space, Brooks speculates, could prompt the Rangers to either "deal defenseman Nick Holden" or "clear $3.567 million of space for 2017-18" by buying out the contract of defenseman Marc Staal. The team already cut ties with Staal's former blue-line teammate and Tampa Bay Lightning addition Dan Girardi at the start of the offseason.