Keith Yandle looks destined to hit the open market.

The New York Rangers defenseman is coming off his first full season with the club - after being acquired last season from the Arizona Coyotes - and while both sides might like to come to an agreement, cap restrictions appear to have the team's hands tied.

Both sides have not had any contract talks and are unlikely to unless the Rangers are able to free up cap space, according to ESPN's Pierre LeBrun.

The Rangers have roughly $15 million in cap space, according to GeneralFanager.com, but also have restricted free agents Chris Kreider, Kevin Hayes, J.T. Miller, and Dylan McIlrath to contend with.

Yandle is coming off the final year of a five-year, $26.25-million contract and will become an unrestricted free agent. He led all Rangers defensemen with 47 points in 2015-16.