Rangers Trade Panarin to Kings: Contract Extension & Draft Pick Details

NEW YORK — In a move signaling a significant shift for both franchises, the New York Rangers traded star winger Artemi Panarin to the Los Angeles Kings on Wednesday. The Rangers received prospect Liam Greentree and a conditional third-round pick in the 2026 NHL Draft in return, according to team announcements.

The deal, completed just minutes before the NHL’s Olympic roster freeze, also included a two-year contract extension for Panarin with the Kings, worth an average annual value of $11 million through the 2027-28 season. The Rangers will retain 50% of Panarin’s salary for the remainder of the current season, resulting in a $5.82 million cap hit for the Kings.

The trade comes after Rangers president and general manager Chris Drury informed Panarin that the team would not be offering him a contract extension, as part of a broader organizational “retool.” Drury communicated this decision to Panarin, a pending unrestricted free agent, and the winger reportedly expressed a preference for the Kings as his desired destination.

Greentree, 20, was the Kings’ first-round pick (26th overall) in the 2024 NHL Draft. He currently plays for the Windsor Spitfires of the OHL, where he has recorded 23 goals and 45 points in 34 games this season. The conditional third-round pick could become a second-round selection if the Kings win at least one playoff round this spring, and a fourth-round pick in 2028 if they win two.

Panarin, 34, joined the Rangers in 2019, signing a seven-year, $11.64 million AAV contract. He quickly became a cornerstone of the Rangers’ offense, leading the team in scoring for six of his seven seasons. He holds the franchise record for points per game (1.26) and ranks ninth in all-time franchise scoring with 607 career points in 482 games. He was a healthy scratch for the Rangers in the three games leading up to the trade, as the team sought to avoid any potential injury before finalizing the deal.

Despite his offensive prowess, including 19 goals and 57 points in 52 games this season, Panarin’s future with the Rangers became uncertain. He had a no-movement clause in his contract, granting him control over his destination. Several other teams, including the Carolina Hurricanes, Tampa Bay Lightning, and Washington Capitals, reportedly expressed interest, but Panarin specifically requested a trade to Los Angeles.

Panarin’s tenure in New York was not without off-ice controversy. He and Madison Square Garden Sports reached financial settlements with a Rangers employee following allegations of sexual assault in 2024. He also took a leave of absence in 2021 following allegations made by a Russian newspaper, which the Rangers dismissed as an intimidation tactic related to Panarin’s outspoken views on political events.

Kings Aim for Playoff Boost

For the Kings, the acquisition of Panarin represents a significant investment in their current playoff push. The team is currently third in the NHL in goals against per game (2.72) but struggles offensively, ranking 28th in goals scored per game (2.57). Their power play is also among the league’s worst, with a success rate of just 15.6 percent.

Panarin’s 57 points would immediately make him the Kings’ leading scorer, surpassing Adrian Kempe’s 45 points. Kings winger Kevin Fiala acknowledged the potential impact of the trade, stating, “The main goal is to win the Stanley Cup and if your GM thinks that adding somebody helps, it’s always positive.”

The Kings’ coaching staff, led by Jim Hiller, will now focus on integrating Panarin into the lineup and maximizing his offensive contributions, both at even strength and on the power play. The move signals a clear commitment to contending in the short term, despite the impending retirements of captain Anze Kopitar and veteran defenseman Drew Doughty.

While the Kings have reached the playoffs in four consecutive seasons, they have been eliminated in the first round each time. The hope is that Panarin’s arrival will provide the offensive firepower needed to finally break through and make a deeper playoff run. The organization is betting that Panarin will give them a much-needed boost, despite the cost of giving up prospect Liam Greentree and draft capital.

The Rangers, meanwhile, are entering a period of transition, as outlined by Drury’s letter to fans. The trade of Panarin, along with the earlier move of defenseman Carson Soucy to the New York Islanders, suggests a focus on acquiring younger players and building for the future. Greentree, ranked 134th among under-23 prospects by The Athletic’s Corey Pronman, is expected to contribute to that long-term plan.