The New York Rangers commenced the 2023-24 NHL season with high expectations, following their Presidents' Trophy win as the top team in the regular season last year. However, as of Saturday, they find themselves five points adrift of a wild-card berth in the Eastern Conference. After a solid start with a record of 12-4-1 through November 19, the team has entered a troubling 15-game stretch in which they secured only four victories. In response to this downturn, general manager Chris Drury executed two trades during the skid, sending former captain Jacob Trouba to the Anaheim Ducks on December 6 and young winger Kaapo Kakko to the Seattle Kraken on December 18. Neither transaction has propelled the Rangers' performance, leading to speculation about further trades on the horizon.

Center Mika Zibanejad has emerged as a notable subject of trade discussions. Coming off a career-best 91-point season in 2022-23, Zibanejad's output dipped to 72 points last season and has continued to decline, with just six goals and 21 points in 32 games this season. This trajectory suggests he may finish with approximately 55 points, marking his lowest total in a non-COVID season since recording 47 points in 2017-18. The drop in his production has fueled trade rumors, and on December 16, Sportsnet's Elliotte Friedman noted Zibanejad's limited ice time, playing only 13:04 against the St. Louis Blues. This prompted speculation that Rangers management could be attempting to induce discomfort to encourage him to waive his no-movement clause. Despite these rumors, The Athletic's Arthur Staple suggests the likelihood of a Zibanejad trade is low, given he has five years remaining on his contract at an average annual value of $8.5 million. If Zibanejad were to waive his clause, the Rangers might need to retain part of his cap hit to facilitate any trade.

Various teams could represent potential trade partners for Zibanejad, each capable of offering him the opportunities necessary to revive his career. The Buffalo Sabres, perhaps desperate to escape a 13-year postseason drought, have experienced a recent downturn, including a 13-game winless streak. They may view Zibanejad as an experienced scoring forward to complement their roster. A potential trade involving Zibanejad for Dylan Cozens would make sense for both teams, as both players seek to regain their previous forms. Cozens, who had a career-best 68-point season two years ago, has struggled since then. In another scenario, the Chicago Blackhawks, with a glaring need for skilled depth at center behind budding star Connor Bedard, would benefit from adding Zibanejad to their lineup. Chicago has the cap space to entertain such a deal, although they may need to manage salary retention to make the numbers work. Zibanejad could play a role in alleviating pressure on the young Bedard, either centering the top line or providing support on the second line.

Meanwhile, the Nashville Predators are facing a disappointing season, currently situated near the bottom of the league standings. The Predators had high hopes following significant offseason acquisitions, yet their performance has not translated into playoff contention thus far. In their quest for a first-line center, Zibanejad could be a valuable addition, allowing veteran Steven Stamkos to return to his preferred left wing position. With sufficient cap space available, the Predators might also negotiate for the Rangers to retain part of Zibanejad's salary in any potential trade. Similarly, the San Jose Sharks, who have recently provided a fresh start for various players, could also be a fitting destination. Zibanejad's presence would lend experience to a young, developing roster without stifling the growth of talented prospects such as Macklin Celebrini and Will Smith.

Lastly, the newly established Utah Hockey Club is making waves in their inaugural season in Salt Lake City, demonstrating potential playoff aspirations. However, depth at the center position remains a concern, with Barrett Hayton currently serving as their first-line center. Zibanejad could significantly enhance their offensive capabilities and offer stability in the lineup. General manager Bill Armstrong has shown a willingness to make bold moves, having previously traded valuable young talent for established players, suggesting that he may consider Zibanejad if it aligns with the team's goals. Given their current cap space, the Utah Hockey Club could feasibly structure a deal involving Hayton along with additional assets to solidify their position within the competitive Western Conference.