I see three scenarios for Kreider
1.) Extend his contract
I get the 7x7 concerns. When you look at Kreider though, he really has had very few injury issues during his career. Its well documented, and my friend use to train with him during the off-season, but the guy is a physical beast. If there was a guy that could last till his mid 30s, he is one that I would bet on. The fact that he is really liked by his teammates, speaks Russians and is a good influence on younger players because of his work habits and training, he is a guy that I would be comfortable making the captain and accepting the risk of a decline down the road. Staal, Smith, Shattenkirk, and Lundqvists cap hits will be gone.
2.) Trade him before the deadline
I think this only makes sense on the condition that a team completely overpays for him. Once the trade is done, I expect to see hfboards and reddit talking about how Gorton fleeced XXXX team. Otherwise I will likely be disappointed.
3.) Trade him next deadline
If you are going to trade him, his value is obviously higher at this trade deadline. But if Panarin is being seriously considered as an option, it might make more sense to wait and see if we can actually sign him. Saying. "Lets trade Kredier and sign Panarin" is a bit of a silly statement when you have no idea if you can even pull it off. If you can sign Panarin, and you dont want to hold on to Kredier, wait and see if you can even get the guy first.
I am of the opinion that the best way to build teams is to take your 22-23 year old players and sign them to their long term contracts then. Like the Skjei contract. You take the risk that they never become the players you hope they will be. But I think its worth the risk. It beats having a guy taking up a huge contract till their mid 30s. But I think Kreider is an exception. Especially for a team that will have no bad contracts in 2 years, needs leadership, and needs a new captain, and currently has no standout alternatives. I see the worst case scenario is that Gorton hopes to sign Panarin, is unable to do so, and decided to move Kreider at next years deadline.