(Photo credit: Wendell Cruz-Imagn Images)

Rather than stand pat or rebuild, the New York Rangers announced they plan to initiate a retool in a letter general manager Chris Drury penned Friday to the team's aggrieved fan base.

The Rangers, whose 46 points rank last in the Eastern Conference, were booed off the Madison Square Garden ice during Tuesday's 8-4 loss to the Ottawa Senators -- New York's fifth straight defeat and 14th in the last 19 games.

Drury's letter acknowledged the fans' disappointment and noted he would seek to add fast, skilled and tenacious young players, along with draft picks.

'No one in the organization is happy with what has transpired -- from management, to coaches, to players. Over the last few years, we've had some successes and moments to cherish, but ultimately it was not the end goal. We are working relentlessly every day to bring a Stanley Cup back to New York because that is what our fans deserve,' Drury wrote.

'With our position in the standings and injuries to key players this season, we must be honest and realistic about our situation. We are not going to stand pat -- a shift will give us the ability to be smart and opportunistic as we retool the team. This will not be a rebuild. This will be a retool built around our core players and prospects.'

The Rangers possess a dreadful 5-13-4 home record this season, Drury's fifth as GM. They are at risk of missing a second consecutive postseason after winning the Presidents' Trophy and reaching the conference finals in 2023-24.

Star defenseman Adam Fox and goaltender Igor Shesterkin remain out with lower-body injuries they sustained Jan. 5 in an overtime loss to the Utah Mammoth.

Scoring leader Artemi Panarin is a pending unrestricted free agent and could be asked to waive his no-move clause ahead of the March 6 trade deadline.

Drury met with team leaders Friday and the players were aware his letter would be released, according to the New York Post.

Drury's major moves over the past year include trading for captain J.T. Miller and hiring former Stanley Cup winner Mike Sullivan as head coach. New York's slide forced him to reassess his thinking.

'We will target players that bring tenacity, skill, speed, and a winning pedigree with a focus on obtaining young players, draft picks, and cap space to allow us flexibility moving forward. That may mean saying goodbye to players that have brought us and our fans great moments over the years. These players represented the Rangers with pride and class and will always be a part of our family,' Drury's letter continued.

'As we start on this new strategic plan, we will continue to play hard with pride and passion for our fans. We appreciate your unwavering support for the Rangers more than we can describe and thank you for all that you do for our organization. You will begin to see some of our plans come to light in the coming weeks and months.'

The Rangers host the Philadelphia Flyers on Saturday afternoon, then leave for a three-game California road trip.

--Field Level Media