Published reports say Lindros has exercised his $3.3 million contract option for 2003-04 and will remain with the Rangers for a third season.
New York can buy out the contract for $2.2 million by July 1, making Lindros an unrestricted free agent, but reportedly has decided to try and restructure the deal.
In the current contract, he could make another $6 million in bonuses. Also, rumors have had him going to Washington in a deal for Jaromir Jagr.
Lindros, 30, enjoyed the first injury-free season of his career in 2003, missing just one game. That was because of a suspension.
The increased playing time did not help his production as the four-time 40-goal scorer tallied just 19 times and added 34 assists, both career lows.
The 6-5 center has 346 goals and 439 assists with 1,225 penalty minutes in 639 career contests.