Speaking to the local media Saturday morning, Rangers head coach Alain Vigneault said he was optimistic a contract extension will be reached.
"If I were a betting man, I'd bet that it was going to get done," he said, as quoted by the New York Daily News.
"Ryan's the captain of this team. You guys all know what he brings to the table and what he brings to this team on a daily basis, so Dan got done, and I always said I've been optimistic and positive, and I'm positive and optimistic that this is going to get done -- I hope."
Callahan is scheduled to become an unrestricted free agent July 1. If he isn't signed to a new contract by the March 5 trade deadline, the Rangers are expected to trade him.
According to multiple reports, Callahan is asking for a seven-year contract worth between $6.5 million and $7 million, per season.
Steve Bartlett, Callahan's agent, would not comment directly in response to Vigneault's optimism when contacted by TFP, but did not appear as confident an extension would be reached.
Bartlett, who also represents New York Islanders left wing Thomas Vanek, whom the Islanders plan on trading this coming week, did not have an update on the status of negotiations, but the two sides are expected to resume discussions at some point today.