Report: Rangers haven’t submitted opening proposal to Stepan yet

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It’s anyone’s guess if the New York Rangers will stop Derek Stepan from reaching salary arbitration, but as of this moment, it doesn’t sound like much is happening yet.

The New York Post’s Larry Brooks reports that “the parties haven’t quite even reached the preliminary stages of negotiating” as a potential arbitration hearing looms on July 27. Going further, the Rangers haven’t even offered an opening proposal for a long-term deal, according to Brooks.

Yikes, right?

OK, Rangers fans, compose yourselves.

Yes, it seems a little dicey that the two sides reportedly haven’t done much, if anything. Stepan, 25, has a strong argument for a hearty deal – Brooks believes that a contract carrying a $6.5 million cap hit would merely get the ball rolling – but the Rangers hold some leverage in his RFA status.

General Fanager places the Rangers’ cap space at about $10.2 million at the moment, yet the Rangers have other situations to address with RFAs, as J.T. Miller, Emerson Etem and Jesper Fast all need new contracts. There are also some situations to consider for 2016-17, as Kevin Hayes and Chris Kreider rank among the most noteworthy players currently on expiring deals.

Even with that tight squeeze, note that a lot can happen in two weeks, and deals often get hammered out within breathing distance of these hearings.

The outlook just doesn’t seem particularly rosy right now, at least if this report is accurate.

Related: Ryan O’Reilly’s big deal might not be helping matters.