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.
Pistorius testifies he didn't consciously pull trigger when he shot girlfriend
Pregnant Mila Kunis wins 'Best Villain' at MTV Movie Awards