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Karel Rachunek (born August 27, 1979, in Gottwaldov, Czechoslovakia) is a Czech professional ice hockey defenceman for the New York Rangers. He was drafted in the ninth round, 229th overall, by the Ottawa Senators in the 1997 NHL Entry Draft.

Drafted out of the Czech Extraliga's HC Zlín, Rachunek made his North American debut with the Grand Rapids Griffins of the International Hockey League during the 1998-99 season. He made his National Hockey League debut during the same season, appearing in six games for the Senators. He played with Ottawa until being traded, along with Alexandre Giroux, to the New York Rangers in exchange for Greg de Vries during the 2003-04 season.

During the 2004-05 NHL lockout, Rachunek returned to the Czech Extraliga to play for HC JME Znojemstí Orli. He stayed in Europe for the 2005-06 season, playing in the Russian Superleague for Lokomotiv Yaroslavl. It is reported that Rachunek was unhappy with the circumstances surrounding his trade from Ottawa to the Rangers, and that is why he decided to stay in the RSL during the 2005-06 season.

In July of 2006, Rachunek signed a one-year deal with the Rangers to return to the NHL, which will reportedly pay him $1.8M (all terms USD).