Feb 06, 2026
3 min read
The Rangers traded forward Artemi Panarin to the Kings on Wednesday, who gave him a two-year, $22 million extension.
The Los Angeles Kings acquired star forward Artemi Panarin from the New York Rangers on Wednesday in exchange for prospect Liam Greentree, a conditional 2026 third-round pick and a conditional 2028 fourth-round pick.
Additionally, the Kings and Pinarin agreed to a two-year extension through the 2027-28 season with an average annual value of $11,000,000.
"ʻO nā mea pāʻani me ke akamai o Panarin, kona manaʻo hockey, kāna hoʻomau ... paʻakikī ke ʻike ʻia kēlā mau mea pāʻani," wahi a ka luna nui o Kings Ken Holland."It is a elite machine he's machine. He works each year. Talk to him, happy to come in Los Angeles.
The deal comes as the NHL's Olympic hiatus, which will run until February 22, begins.
The Rangers picked up 50% of Panarin's salary, which leaves him with a $5.8 million cap hit on the Kings' books this season.
The Rangers have played Panarin in each of their last three games and do not want to risk injuries as they try to seal a deal before the Olympic break.
Panarin will not go to Milan because the Russian men's ice hockey team is still banned by the IIHF, and now he can take time to get used to his new team and city.
According to the rules set by the NHL and NHLPA, all teams must be completely shut down from February 6th to February 16th but can resume training on February 17th in the 2 regional leagues.NHL playoffs resume on February 25.
Several teams circled Panarin, including Carolina, Tampa Bay and Washington.Panarin told the Rangers that L.A. was where he wanted to go, sources said.
Panarin and his agent had full control of the season, as his contract carries a no-movement clause.
Panarin is considered one of the Rangers' biggest free agents of all time as he completed the seventh year of an $81.5 million contract he signed in July 2019. The crafty winger has been the Rangers' leading scorer in five of the last six seasons.
The Rangers have no leverage, but sources say they have the best prospect in the Kings organization in Greentree, who was selected No. 26 in the 2024 NHL Draft by Los Angeles.
While many around the league believed Panarin's preferred destination was the defending Stanley Cup champion Florida Panthers, sources say the Panthers never approached in part because they wouldn't be able to hit the salary cap.
However, the Kings want to sign on for captain Anze Kopitar's final season in the NHL.Los Angeles is looking to break through after losing to the Edmonton Oilers in the first game of the playoffs in each of the last four seasons.
“You either compete or you get to work on long-term rebuilding,” Holland said.“Well, I'm not interested in a long-term rebuild. Some of the guys we signed aren't interested in that, so we're trying to compete.”
Although Holland says the Kings have no intention of changing their style of play, Panarin and the Kings believe they can fit into their style while providing excitement to a team that needs it.
"In the O-zone, he's going to have the freedom to do what he wants, but when you don't have the puck, you have to defend," Holland said."I think it's the same for all 32 teams. We don't score or score as much as some other teams, so we've got to be good on the defensive end."
The following applies to the conditional pick: If the Kings win a playoff round this year, the third-round pick becomes a second-rounder;If they don't win a playoff round, the best of their two thirds will be selected, sources said.If L.A. wins two playoff rounds this year, the Rangers will also receive a fourth-round pick in 2028.
The Rangers announced last month that they would begin a rebuild after a disappointing first half of the season. That same day, general manager Chris Drury met with Panarin and informed him that the 34-year-old would not be offered a new contract extension if the 34-year-old became an unrestricted free agent this summer. During that conversation,Drury told Starwinger that he and his agents will work with him to facilitate a deal with the location he wants.
The Rangers, who are in last place in the Eastern Conference, are expected to be busy before the NHL trade deadline on March 6.Panarin is the second veteran this season after Carson Soucy was sent to the New York Islanders campaign last month.According to sources, defenseman Braden Schneider and center Vincent Trocheck are likely the Rangers to buy this season.
This report used information from the Associated Press.
