The Rangers have finalized a trade that had been widely anticipated.
After sitting veteran Reilly Smith for the last three games due to “roster management purposes,” New York dealt the 33-year-old forward to the Vegas Golden Knights on Thursday. In return, they received forward prospect Brendan Brisson and a 2025 third-round draft pick, according to a source who spoke to lohud.com under anonymity. The trade was first reported by the New York Post.
The third-round pick originally belonged to the San Jose Sharks, meaning it will likely be near the top of the round. The Rangers will also retain 50% of Smith’s remaining $3.75 million salary for this season, resulting in a $1.875 million cap hit—an amount they can easily absorb.
This move leaves New York with nearly $17 million in cap space, per PuckPedia, giving them flexibility ahead of Friday’s 3 p.m. trade deadline.
Smith returns to Vegas, where he won a Stanley Cup in 2023, after recording 29 points (10 goals, 19 assists) with a minus-one rating in 58 games for the Rangers this season. He never fully settled into the top-six role envisioned when New York acquired him from Pittsburgh last summer, but he contributed in all situations and had strong underlying numbers. His 51.09% expected goals-for percentage (xGF) was the best among Rangers forwards at the time of the trade, according to Natural Stat Trick.
New York originally acquired Smith from the Penguins in exchange for a 2027 second-round pick and a conditional 2025 fifth-rounder, with Pittsburgh retaining 25% of his $5 million average annual salary. Now, the Rangers have recouped assets before Smith enters unrestricted free agency, while also clearing space for young forwards Brett Berard and Brennan Othmann to step into the lineup.
Brisson, a 2020 first-round pick, made his NHL debut with Vegas last season, tallying eight points (two goals, six assists) in 15 games. He went scoreless in nine NHL games this season but spent most of his time in the AHL with the Henderson Silver Knights, where he struggled, posting 19 points (five goals, 14 assists) and a minus-24 rating in 45 games.
Meanwhile, the Rangers have acquired six draft picks in trades over the past three months. Though they are unlikely to retain this year’s first-round pick due to conditions in the deal that brought J.T. Miller from Vancouver, they now hold nine selections across rounds two through seven.
General manager Chris Drury may use some of these newly acquired assets to address other needs before the deadline, with a left-handed defenseman—preferably one who can play alongside Adam Fox and is signed beyond this season—at the top of the list. However, the market for defensemen has been thin, and prices remain high.
With the deadline approaching, Drury has limited time to make another move. If no deals materialize, the Rangers will proceed with their current roster, which has been improving and climbing back into playoff contention. But whether it happens now or in the offseason, further changes are expected, and New York has positioned itself well for future moves.
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