Tap here to view theScore's NHL Offseason tracker, which includes the latest transactions and rumors.
Derek Stepan is looking for a substantial raise.
The restricted free agent ranked third on the team in scoring this past season, recording 16 goals and 39 assists for a total of 55 points in only 68 games.
For his career, he's averaged 0.7 points per game, and is a core player for a Rangers team looking to defend its Presidents' Trophy in 2015-16.
The 25-year-old is coming off a two-year deal worth $6.15 million.
Without a new deal for Stepan on the books, the Rangers have $6,151,000 of cap space heading into next season.