Before exploring the pros and cons of GM Glen Sather's lack of offseason activity to this point, let's review the 2000-01 season of drama and disappointment. It's impossible to project how the Rangers would have finished had right wing Theo Fleury not left the team for substance-abuse problems or had Valeri Kamensky even vaguely resembled a former 38-goal scorer. Or how they would have done had goalie Mike Richter not suffered another knee injury. The point? New York was a bad team, losing 43 games and allowing a league-high 290 goals. But some bad luck exacerbated the bad play, and the snowballing effect of bad karma continued with the new regime of Sather and coach Ron Low.

2000-01 by the numbers

Record: 33-43-5-1, 72 points (21st overall, 10th East, 4th Atlantic) Man-games lost to injury: 270 (8th) Goals for: 250/3.05 (7th) Goals against: 290/3.54 (30th) Differential: -40 (23rd overall) 20-goal scorers: Petr Nedved (32), Radek Dvorak (31), Theoren Fleury (30), Jan Hlavac (28), Mark Messier (24), Brian Leetch (21) 50-point scorers: Leetch (79), Nedved (78), Fleury (74), Messier (67), Dvorak (66), Hlavac (64)

Looking at next season
The expectation on Broadway the last few years has been to offset regular-season failure with offseason spending -- sort of like going on a shopping spree to quell depression. Perhaps not signing Joe Sakic, Rob Blake or Jeremy Roenick -- along with not trading for Jaromir Jagr or Alexei Yashin -- will end up a good thing? Of course, with the cash freed up by trading Adam Graves and letting go of Tim Taylor and Kamensky, the Rangers had the money to pull off the Jagr deal, but either Sather negotiated too firmly with Penguins GM Craig Patrick or wasn't willing to part with his prospects. Acquiring a future Hall of Famer like Jagr could do nothing but help the Rangers, but it's no longer worth debating Jagr's potential impact because he's with the Capitals now.

Regardless, at this point the Rangers might be best served allowing young players like Pavel Brendl, Jamie Lundmark and Mike Mottau play as much as possible, building for a long-term future. If the Rangers didn't risk trading talent for a proven talent like Jagr, it's not prudent to do it for Eric Lindros, whose career constantly will be in jeopardy.

That might mean another non-playoff season for the Rangers. It's difficult to gauge how that affects the season-ticket base -- which must renew season-ticket packages by Friday -- with the shock of not landing Jagr still fresh. But with the overwhelming corporate support at Madison Square Garden, it's unlikely the sellout numbers will change, but how long can the average fan absorb the punishment of losing seasons?

On the ice, several things need to happen for the Rangers to compete at a high level next season. First and foremost, Fleury must return in the form he left -- 30 goals and 74 points in 62 games last season. In order for 40-year-old center Mark Messier to be effective, more production is needed from other Rangers centers, Petr Nedved and Mike York. However, scoring goals wasn't the problem for the 2000-01 Rangers, who scored 250 goals -- sixth-best in the league. Keeping the puck out of the net and playing consistent team defense hurt the Rangers more than anything. With Richter's status uncertain and no appealing alternatives in sight, goaltending is a major issue for the Blueshirts. Vitali Yeremeyev didn't impress much (0-4-0, 4.52 GAA, .846 save percentage) during his brief promotion from the team's AHL affiliate in Hartford. Aging Kirk McLean (35-years old) and Guy Hebert (34) don't seem great options. Would the Rangers be so bold as to make 2001 first-round pick Dan Blackburn the No. 1 goalie?

On defense, prospects are much brighter. Sather signed Igor Ulanov and Dave Karpa to add experience and some grit to the blue line. Vladimir Malakhov should be healthy again after a knee injury, and the Rangers expect former Hobey Baker winner Mike Mottau to challenge for a full-time spot on the big club. Throw in the promising and punishing 21-year-old Tomas Kloucek -- currently recovering from a torn ACL -- along with Brian Leetch, Kim Johnsson and Brad Brown and the Rangers could have a solid top-six corps of blueliners. Kloucek and Ulanov could be key because both play physical, defensive hockey which complements the puck-movement styles of Leetch, Johnsson and Mottau.

Lots of variables for the Rangers, and it's unlikely it will all come together for a major run in the Atlantic Division, but if Sather somehow finds a goalie who can excel, prognosticating doomsday might be a bit premature.

Brian A. Shactman covers the NHL for ESPN.com and can be reached at brian.shactman@espn.com.