NHL Notebook: Panarin Heads West, Olympic Moves Begin, and Trade Freeze Looms
With the Olympic break just around the corner, the NHL landscape is shifting fast. Between surprise trades, early departures for Milan, and a looming trade freeze, teams are making their final moves before the pause. Let’s break down the biggest headlines shaping the league right now.
Panarin to the Kings: A West Coast Power Play
The New York Rangers made a splash ahead of the Olympic roster freeze, sending star winger Artemi Panarin to the Los Angeles Kings. In return, the Rangers receive a conditional third-round pick and forward prospect Liam Greentree.
Now, this isn’t your blockbuster, franchise-altering haul - but it’s a calculated move. The Rangers retained 50% of Panarin’s salary for the remainder of the season, and the Kings wasted no time locking him down with a two-year extension worth $11 million annually.
Here’s the key: Panarin had a full no-move clause, so this deal only happened because he wanted it to. That limits leverage for the Rangers, but they did manage to build in some upside. The third-rounder can become a second if L.A. wins a playoff round, and they’ll snag a fourth-rounder if the Kings win two.
For the Kings, this is a clear push toward contention. Panarin still brings elite vision and offensive instincts, and paired with their existing core, he could be the piece that helps them break through in a competitive Western Conference.
Other Moves Before the Freeze
St. Louis made a smaller move, shipping veteran center Nick Bjugstad to the New Jersey Devils. It’s a depth add for Jersey, who are trying to shore up their bottom six for a playoff push.
Meanwhile, Pittsburgh defenseman Caleb Jones has been suspended under the NHL’s Performance Enhancing Substances Program. These infractions are rare in the NHL, and the policy is collectively bargained - meaning there’s little momentum for change on either side. The league and NHLPA have long treated this as a closed book unless something major shifts.
Olympic Break Trade Freeze Incoming
The Olympic trade freeze kicks in at midnight on February 22. Until then, teams can still make deals - but once the clock strikes, it’s all quiet on the trade front until the break ends. However, players can still sign extensions during the freeze.
So, expect a flurry of last-minute activity as teams try to get their rosters in order before the pause. After that, it’s all about Olympic hockey - and watching how the tournament might impact NHL momentum heading into the stretch run.
Players Departing Early for Milan
Some NHL stars aren’t waiting around. A few are heading out early to take part in the Olympic opening ceremonies - and carry their nations’ flags in the process.
Leon Draisaitl will serve as Germany’s flag bearer, a major honor for one of the league’s most dominant forwards. He’s expected to leave for Milan ahead of the main charter group, which departs Saturday.
David Pastrnak is doing the same for the Czech Republic, sharing flag-bearing duties with a biathlete. It’s a proud moment for both players and a reminder of just how global the NHL’s talent pool has become.
Canada vs. Finland Postponed
In Olympic women’s hockey news, today’s scheduled matchup between Team Canada and Team Finland has been postponed due to illness on the Finnish side. The game, originally set for 3:10 p.m. ET at the Milano Rho arena, will now be played on February 12.
Coverage of other Olympic events continues on CBC GEM, with live broadcasts starting early in the morning.
Looking Ahead: 10 Questions Before the Break
As we head into the Olympic pause, there’s no shortage of storylines to track. Will teams with fewer Olympians have a rest advantage in the playoff race?
Could a sleeper team in the East make a second-half surge? And how will the trade freeze shape the next wave of roster moves?
These are the kinds of questions front offices are wrestling with right now - and the answers could determine who’s playing deep into spring.
Leafs’ Cap Space Gives Flexibility
One team that’s well-positioned heading into the break? The Toronto Maple Leafs.
They’re not hurting for cap space next season and have multiple paths to open up more. Whether it’s adding at the deadline or planning for a summer splash, the Leafs have options - and that’s a good place to be in a league where flexibility is currency.
Stay tuned. The Olympic break may pause the games, but the chessboard is still very much in motion.