Rangers send Stepan, Raanta to Coyotes for No. 7 pick, DeAngelo

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Just when you thought Stan Bowman was the busiest man at draft weekend, John Chayka upped the ante.

Just minutes after acquiring Niklas Hjalmarsson from the ‘Hawks, Chayka went out and acquired veteran Rangers center Derek Stepan — along with netminder Antti Raanta — in exchange for the No. 7 overall pick at tonight’s draft, and young d-man Anthony DeAngelo.

The trade was first broken by TSN’s Darren Dreger, later confirmed by fellow TSNer Bob McKenzie.

Phew.

In Stepan the Coyotes get a massive upgrade at the center position, which was bereft of talent for all of last season. It’s why Arizona had been tied to Stepan for most of this week. The 27-year-old has consistently been able to go beyond the 50-point plateau, with 17 goals and 55 points last season, and will certainly be a boost to Arizona’s crop of talented young forwards.

Stepan’s entering the third year of a six-year, $39 million contract that comes with an annual cap hit of $6.5 million. And, importantly, the Rangers moved him prior to his no-trade clause kicking in next season. The money freed up by trading Stepan could be used in free agency to land, say, defenseman Kevin Shattenkirk.

As for the other part of this deal, the Coyotes could also have their starting netminder of the future in Raanta, now that Mike Smith has been shipped off to Calgary. Raanta has been one of the league’s best backups working behind Henrik Lundqvist in New York, and a new No. 2 goalie is probably on the Rangers’ revised shopping list.

This trade also gives New York a pair of first-rounders this evening — the Rangers already held the No. 21 overall selection — which is important, given GM Jeff Gorton is without second- and third-round picks. They Blueshirts also received a good puck mover in DeAngelo, a former first-round pick himself.

DeAngelo, 21, made his NHL debut last year and scored 14 points in 39 games. He’s been described as a skilled offensive defenseman, but one with a history of disciplinary issues. That continued last year in Arizona, when he was suspended three games for abuse of an official.

More to follow…