The Bradford native has asked the team for permission to join the Newmarket Hurricanes on the Tier II loop.
The Rangers obtained the 18-year-old forward from the Sarnia Sting for goalie Brandon Maxwell last year.
Francisco was an offensive minded player but never found his groove in Kitchener. He had 15 points in 62 games this past season and was a healthy scratch at times in the post-season.
Francisco said he hopes to rediscover his scoring touch in Newmarket and perhaps return to the OHL in a year. If not, he'll play Tier II and concentrate on school.
He added that he is open to the idea of being traded, but said there isn't much demand due to his output this past season.
Don't expect to see centre Andrew Crescenzi either.
The potential overager isn't expected to return to the Rangers. The team is being told he'll have every shot at cracking the Toronto Marlies of the American Hockey League.