The NHL draft starts on Friday with the first round. The Rangers may not be part of it if they choose to send their 12th overall pick to Pittsburgh as part of the J.T. Miller deal. They have the option to defer the transfer to the following year.

Rangers’ GM Chris Drury has until late Wednesday to inform Penguins’ GM Kyle Dubas about their decision. The pick was acquired by Pittsburgh from Vancouver in the Marcus Pettersson trade, just a day after the Rangers acquired Miller from the Canucks.

Many have suggested that the Rangers should complete the transaction this year to ensure they retain their 2026 first-round pick in a draft that is projected to be of higher quality.

At this point, the team picture is not in focus, but the Rangers cannot be in the position of sacrificing what might be a premium lottery pick — and to a division rival, no less — if things go south.