The New York Rangers have traded star forward Artemi Panarin to the Los Angeles Kings just as the NHL’s Olympic roster freeze kicked in on Wednesday. [1] [2] In exchange, the Rangers receive prospect Liam Greentree and a conditional third-round draft pick. Sources indicate the Kings are already working toward an extension for the 34-year-old winger, who holds a full no-movement clause and specifically requested a move to Los Angeles.
This blockbuster deal caps weeks of speculation following the Rangers’ announcement of a roster retool. Panarin, wrapping up the final year of his seven-year, $81.5 million contract signed in 2019, had been held out of recent games for “roster management.” The trade aligns with general manager Chris Drury’s vision to reshape the team after a disappointing first half of the season.
Trade breakdown and immediate details
The Rangers part ways with one of their all-time great free-agent acquisitions for future assets rather than established NHL talent. Liam Greentree, selected 26th overall by the Kings in the 2024 NHL Draft, is a 20-year-old right winger currently starring in the OHL with the Windsor Spitfires. He’s on pace for around 90 points this season after a 119-point campaign last year, showcasing his scoring prowess and NHL upside.
The conditional third-round pick adds flexibility but underscores the limited return, given Panarin’s production. This season alone, he’s tallied 57 points in 52 games, leading the Rangers in scoring for the fifth time in six years. No salary retention was involved, freeing up over $11 million in cap space for New York.
Several teams, including the Carolina Hurricanes, Tampa Bay Lightning, and Washington Capitals, showed interest late in negotiations. However, Panarin’s preference for the Kings—coupled with LA’s cap flexibility—sealed the deal. Sources confirmed the Kings view him as a key addition to their playoff push in the Pacific Division.
The timing is critical, occurring moments before the roster freeze through February 22 or 23, depending on Olympic schedules. This prevents any last-minute Olympic tweaks but locks both teams into their lineups for the break.
Panarin’s no-movement clause gave him veto power, ensuring he landed in his desired spot. Early reports suggest extension talks are underway, potentially keeping the “Bread Man” in purple and black beyond 2025-26.
Rangers’ retool strategy under Chris Drury
Last month, on January 16, Drury penned a letter to fans signaling a shift. “This will be a retool built around our core young players,” he wrote, emphasizing opportunism over a full rebuild. [3] The same day, he informed Panarin no extension was coming, paving the way for this trade.
The Rangers’ first half was marred by inconsistencies, prompting the pivot. Drury met with Panarin to respect his clause, collaborating with his agent on preferred destinations. This approach avoided a disgruntled star but yielded a modest package.
Fans reacted with mixed feelings, as detailed in our coverage of Artemi Panarin likely has played his last game for the New York Rangers. Some see it as the start of a necessary refresh, while others lament the return.
Drury’s history includes savvy moves, but this one draws comparisons to past rentals. The cap relief and youth infusion could fund bigger splashes post-Olympics.
The retool echoes the Rangers’ post-2024 Cup final mindset, blending veterans with prospects. Greentree fits that mold perfectly.
We also covered the on-ice response in Rangers deliver statement win after Drury’s retool announcement, highlighting resilience amid uncertainty.
Panarin’s legacy in New York
Signed in July 2019, Panarin transformed the Rangers overnight. His crafty playmaking and scoring made him the team’s leading point-getter in five of six seasons, amassing elite totals.
Career highlights include overtime winners in the 2022 and 2024 playoffs, helping deep Eastern Conference runs. Over 804 NHL games, he’s notched 321 goals and 606 assists, ranking among the league’s top assist men since 2015-16.
- Regular-season dominance: 120 points in 2023-24, fifth in Hart voting.
- Playoff impact: 35 points in 46 games, including Game 7 heroics vs. Pittsburgh.
- All-Star nods: Four-time selection.
Despite a playoff dip, his regular-season consistency was unmatched. Rangers fans will remember “The Bread Man” fondly.
This move ends a chapter, but his Rangers tenure cements him as one of their best signings ever. For more on the buildup, check ESPN’s full report here.
What the Kings gain in the Pacific race
Los Angeles adds a proven scorer to a lineup needing offense. Sitting one point from a wild-card spot, Panarin boosts their contention window perfectly as a potential rental-turned-long-termer.
His vision complements Anze Kopitar and Adrian Kempe, potentially elevating the top six. The Kings’ cap space allows extension pursuit, targeting around $50 million over flexible years.
- Immediate boost: 57 points prorated over full season exceeds LA’s wing production.
- Playoff pedigree: Clutch performer in high-stakes games.
- Extension fit: Salary matches their contention timeline.
GM Rob Blake acted swiftly, fending off rivals. If extended, Panarin could anchor for years. Details from The Athletic outline the fit.
This shores up weaknesses exposed early, positioning LA for a deep run.
Evaluating the return: Greentree and the pick
Liam Greentree headlines the package, a high-skill winger with OHL dominance. At 6-foot-2, he blends size, shot, and IQ—ideal for Drury’s retool.
The conditional third offers upside if LA falters. Critics call it underwhelming for a star, but leverage was limited by UFA status and NMC.
Trade grades vary:
- Rangers: C (future focus, low cost).
- Kings: B+ (steal if extended).
Greentree’s development trajectory excites, potentially NHL-ready soon.
Reactions, grades, and next steps
Media reactions poured in quickly. ESPN’s Emily Kaplan and Adam Schefter broke the news, noting Panarin’s LA preference. Pundits grade Kings higher for the low price.
Fan forums buzz with debate—Rangers supporters underwhelmed, Kings fans ecstatic. Elliotte Friedman highlighted extension as key.
Post-freeze, focus shifts to Olympics and March deadline. Rangers eye cap splashes; Kings integrate Panarin.
Drury faces pressure to flip assets wisely.
This trade signals bold shifts across the league.
The Rangers embark on an uncertain retool, banking on youth like Greentree to rebound. For Panarin, sunny California offers Cup contention and security. Expect ripple effects through the Pacific and Atlantic as teams reassess before playoffs—what it means for the standings remains the big question.
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Par Mike Jonderson
Mike Jonderson is a passionate hockey analyst and expert in advanced NHL statistics. A former college player and mathematics graduate, he combines his understanding of the game with technical expertise to develop innovative predictive models and contribute to the evolution of modern hockey analytics.