NY Rangers may not have enough cap space to sign Derek Stepan

New York Rangers top center Derek Stepan is set for arbitration on Monday. The restricted free agent is coming offer a contract with an annual cap hit of $6.15M. The 25 year old is demanding $7.25M, while the Rangers are offering $5.2M per season.

Stepan had 55 points last season in 68 games for the Rangers. The Buffalo Sabres recently signed center Ryan O'Reilly, who is a comparable, for $7.5M. Stepan may be awarded $7M.

The NY Rangers only have $6.15M in cap space remaining, which may not be enough to sign Derek Stepan.