After his death, the New York Rangers sought compensation in the form of an extra draft pick from the NHL. As Cherepanov had not agreed to terms with the club at the time of his death, the team claimed that he was technically eligible to be selected in the 2009 NHL Entry Draft, and they were entitled to compensation. The team was eventually awarded the 17th selection of the second round in the 2009 draft, after the Rangers' proposal was approved by the rest of the league. NHL general managers also voted to adopt a rule change, dubbed the "Cherepanov rule" that would see any future teams receive compensation if a prospect selected in the first round dies before signing a contract.