The NHL trade deadline may not have brought a flurry of moves before the Olympic freeze, but the Los Angeles Kings made sure to shake things up in a major way. In one of the boldest moves of the season, the Kings landed elite winger Artemi Panarin from the New York Rangers, sending prospect Liam Greentree and a conditional 2026 third-round pick the other way. That pick bumps up to a second-rounder if L.A. wins a playoff round, and New York tacks on a 2028 fourth-rounder if the Kings make it through two.
Not long after the trade, Panarin doubled down on his commitment to the Kings, signing a two-year, $22 million extension that keeps him in Southern California through 2028. The deal is front-loaded with hefty signing bonuses-$11 million next season and $9 million in 2027-28-along with a modest $1 million base salary each year. Just like his previous contract, this one comes with a full no-move clause, giving Panarin full control over his future.
Why the Rangers Moved On
Panarin addressed the media following the trade and, while he didn’t outright say the Rangers lowballed him, his comments painted a pretty clear picture. “I don’t know if I should say this,” he said, “but I feel like the contract offer (said), ‘We’re not sure if we want you or not.’” That’s a telling quote from a player who’s been a cornerstone of New York’s offense since arriving in 2019.
The Rangers reportedly floated offers during the offseason that would’ve required Panarin to take a significant pay cut. They were apparently open to getting creative with term, but ultimately, talks fizzled out. Once negotiations stalled, there wasn’t much momentum to revisit a new deal, and the writing was on the wall.
Seattle’s Big Swing Misses
What’s especially interesting is that Los Angeles wasn’t the only team trying to land Panarin-and they weren’t offering the biggest bag, either. According to Elliotte Friedman, the Seattle Kraken made a massive push, offering north of $14 million per season to lure Panarin to the Pacific Northwest. That would’ve nearly doubled the highest salary on their current roster-Vince Dunn leads the way at $7.35 million.
The Kraken clearly saw Panarin as a potential game-changer, someone who could elevate their offense and bring star power to a still-young franchise. But despite the eye-popping number, Panarin wasn’t swayed. He wanted to control his destination, and his eyes were set squarely on Los Angeles.
Timing Was Everything
From a cap management standpoint, most teams would’ve preferred to wait until after the Olympic break to make a move like this. Less time on the calendar means less money owed, even with the Rangers retaining 50% of Panarin’s salary to get the deal done. But Panarin wasn’t interested in waiting.
According to reporting from Vince Z. Mercogliano, Panarin made it clear that he wanted to be moved before the trade freeze so he’d have time to acclimate with his new team. That deadline may have spooked a few potential suitors, but it ultimately didn’t matter-Panarin had one team in mind, and that was the Kings.
What This Means for L.A.
For the Kings, this isn’t just a splashy move-it’s a statement. They’re going all-in, adding a dynamic, top-line winger who can tilt the ice and take over games. Panarin brings elite playmaking, power-play prowess, and postseason experience to a team that’s been building toward something bigger over the past few seasons.
The structure of his new deal-with the heavy bonuses and full no-move clause-shows that the Kings aren’t just renting Panarin for a playoff push. They’re investing in him as a key piece of their core, someone who can help lead this group deeper into the postseason.
And if they win a round or two along the way? Sure, the Rangers get a couple of upgraded picks. But for a team like L.A., the chance to chase a Stanley Cup with a player of Panarin’s caliber is worth every bit of that price.