NHL Trade Notebook: Panarin Heads West, Devils Add Size Up the Middle
Just hours before puck drop in Vegas for their final game before the Olympic break, the Vancouver Canucks were wrapping up their moms’ trip-a sentimental moment that made any roster shakeups unlikely. But while the Canucks stayed quiet, two Eastern Conference teams made some serious noise.
Let’s break down the two biggest moves from a busy day around the league.
Panarin to LA: A Blockbuster with Layers
In a move that sent shockwaves through the NHL, the Los Angeles Kings pulled off a blockbuster, acquiring star winger Artemi Panarin from the New York Rangers. The return? Top forward prospect Liam Greentree, a conditional 2026 third-round pick, and a conditional 2028 fourth-rounder.
Now, let’s unpack this.
First, credit to the Kings for pulling off a deal that many didn’t even think was on the table. According to insiders, Panarin had only one team in mind when it came to waiving his no-move clause-and it was LA.
That immediately narrowed the Rangers’ options, but it also gave the Kings a unique opening. They took it.
The conditions on the picks add some intrigue. The 2026 third-rounder becomes a second if LA wins a single playoff round.
The 2028 fourth only transfers if they win two. Translation: the Rangers are betting on the Kings to make some postseason noise-and they’ll be rooting for them to fall short.
But the biggest piece of this deal might not be the picks or even Greentree. It’s the extension.
Panarin wasn’t looking to be a rental. He made that clear.
And shortly after the trade, the Kings locked him in with a two-year, $11 million extension. That’s $5.5 million annually for a player who’s still producing at a high level.
The Rangers are retaining 50% of his current contract, making the financials work for both sides.
Panarin, 34, leaves New York after six and a half seasons, where he racked up 205 goals and 607 points in 482 games. That puts him ninth all-time in Rangers scoring history-a remarkable run.
But with the team signaling a shift toward a retool, they made the tough call to move on from their top point producer. Panarin was scratched for three straight games while the Rangers searched for a trade partner.
They lost all three.
Now, he heads west to a Kings team that just got a whole lot more dangerous.
And don’t sleep on the return. Greentree, 20, was LA’s first-round pick in 2024 (26th overall) and has shown serious upside.
Last season in the OHL, he exploded for 119 points in 64 games with the Windsor Spitfires. This year, he’s cooled slightly, with 45 points in 34 games, but he’s still considered the top prospect in the Kings’ system.
At 6-foot-3 and 216 pounds, he brings size, skill, and a power-forward profile that could translate to a middle-six NHL role in the near future.
Devils Add Bjugstad in Depth Move
The New Jersey Devils also made a move, though not quite as headline-grabbing. They acquired 6-foot-6 center Nick Bjugstad from the St.
Louis Blues in exchange for prospect Thomas Bordeleau and a conditional 2026 fourth-round pick. The condition?
St. Louis gets the lowest of New Jersey’s three fourths (NJD, DAL, or WPG).
Bjugstad, 33, has had a tough year with injuries, appearing in just 35 games and tallying six goals and one assist. But when healthy, he brings size, experience, and the kind of two-way presence the Devils have been sorely lacking down the middle.
This move comes on the heels of New Jersey clearing cap space by trading Ondrej Palat and his $6 million cap hit to the Islanders. That deal also cost them a third-rounder in 2026 and a sixth in 2027, but it gave them some flexibility. Unfortunately, it came just a bit too late-they reportedly missed out on their top target, Quinn Hughes.
As it stands, the Devils are sitting second-to-last in the Eastern Conference, 11 points back of the Bruins. It’s a steep hill to climb, but Bjugstad’s contract runs through next season, so this isn’t just a last-ditch playoff push. It’s also a look ahead to 2026-27, when they’ll try to make a more sustained run.
Final Thoughts
The Kings made the biggest splash, landing a proven scorer in Panarin and extending him immediately. It’s a win-now move from a team looking to make a deep playoff push. The Rangers, meanwhile, begin their retool with a promising prospect and some future draft capital.
The Devils’ move is more subtle but still meaningful. Bjugstad gives them a veteran presence and some much-needed depth at center. Whether it’s enough to spark a second-half surge remains to be seen, but it’s a step toward building a more balanced roster.
As the Olympic break begins, teams are starting to show their hands. And if these early moves are any indication, we’re in for an active and unpredictable stretch run.