The Artemi Panarin era in New York has officially come to a close, and it ends with a blockbuster move that could shake up the playoff race in the West. The Rangers have traded the star winger to the Los Angeles Kings in exchange for top prospect Liam Greentree and a pair of conditional draft picks. It's a bold move from both sides-one that speaks volumes about where each franchise sees itself heading.
Panarin, 34, is headed to L.A. with a fresh two-year extension in his back pocket, reportedly worth $11 million per season. And make no mistake: this is a win-now play for the Kings.
Panarin isn’t just another name on the marquee-he’s been one of the most consistent offensive producers in the league. With 19 goals and 57 points in 52 games this season, he was leading the Rangers in scoring at the time of the deal.
Now, he’ll bring that elite playmaking and scoring touch to a Kings team that’s currently sitting just one point out of a wild-card spot in the Western Conference.
The trade comes with some creative structuring. New York is retaining 50% of Panarin’s $11.6 million cap hit for the remainder of the season, which helped make the financials work for L.A.
The draft picks could sweeten the pot for the Rangers depending on how far the Kings go in the postseason. If L.A. wins a playoff series, the 2026 third-rounder bumps up to a second.
And if the Kings make it all the way to the conference final, New York picks up an additional fourth-rounder in 2028.
This wasn’t a case of Panarin being shopped around to the highest bidder, either. According to reports, Los Angeles was the only destination Panarin’s camp approved-he holds a full no-movement clause and used it to steer the deal. That speaks to the mutual interest here, and the Kings wasted no time locking him up beyond this season.
For New York, this move is as much about the future as it is about the present. The Rangers reportedly told Panarin back in January that they wouldn’t be offering him a new contract.
That decision came shortly after GM Chris Drury addressed fans with a letter signaling a retooling phase. It’s a tough pill to swallow for a team that’s seen Panarin rack up 321 goals and 927 points in 804 career games, including a monster 2023-24 campaign where he set personal bests with 49 goals and 120 points.
In return, the Rangers get Liam Greentree, a promising 6-foot-3 winger who’s been lighting it up with the Windsor Spitfires in the OHL. Drafted 26th overall in 2024, Greentree has 23 goals and 45 points in 34 games this season and is coming off a 119-point campaign last year. He also suited up for Canada at the World Juniors in January, adding to a résumé that suggests he could be a top-six forward in the near future.
The timing of the deal is notable, too. Panarin had been held out of the lineup since January 28 for what the team called "roster-related reasons."
With the NHL’s Olympic roster freeze kicking in at 3 p.m. ET on Wednesday, both teams made sure to get this done before the window closed.
For the Kings, this is a swing for the fences. They’ve struggled to find consistent offense outside of Adrian Kempe, who leads the team with 20 goals and 45 points in 54 games. Adding Panarin gives them a dynamic offensive catalyst who can elevate the entire top six-and potentially push them over the playoff threshold.
For the Rangers, it’s a turning of the page. Panarin’s departure marks the end of an era, but the return of a high-upside prospect and flexible draft capital gives them tools to reshape the roster. It’s not a full teardown, but it’s a clear signal that New York is thinking long-term.
Bottom line: this trade is about timing, fit, and direction. The Kings are going all-in with a proven star.
The Rangers are betting on the future. And Artemi Panarin?
He’s got a new home, a new contract, and a chance to chase a Stanley Cup in Southern California.