The New York Rangers made a significant roster move on Wednesday by trading star winger Artemi Panarin to the Los Angeles Kings just before the NHL Olympic roster freeze. This transfer marks a major step in the Rangers’ efforts to retool their struggling team during the current season.
Details of the Panarin Trade and What the Rangers Received
In exchange for Panarin, who was in the final year of his seven-year, $81.5 million contract, the Rangers received 20-year-old forward prospect Liam Greentree along with conditional draft picks from the Kings. The Rangers agreed to retain half of Panarin’s remaining salary cap hit this season. If the Kings win a playoff round in 2024-25, a 2026 third-round pick acquired by New York will be upgraded to a second-round pick. Additionally, if Los Angeles advances to the Western Conference final, the Rangers will also gain a 2028 fourth-round pick.
Liam Greentree, chosen 26th overall by the Kings in the 2024 NHL Draft, has been showing promising performance with 23 goals and 22 assists in just 34 games this season with the Windsor Spitfires of the Ontario Hockey League.
Rangers’ Intentions Behind the High-Profile Trade
The trade of Panarin aligns with the Rangers’ announced plan to retool rather than fully rebuild. General Manager Chris Drury previously informed fans that the franchise aimed to acquire young talent, draft picks, and salary cap flexibility to strengthen the team moving forward. Drury explained the objective was to focus on
obtaining young players, draft picks and cap space to allow us flexibility moving forward.
Chris Drury, New York Rangers General Manager
Prior to this deal, the Rangers had already begun making changes by trading defenseman Carson Soucy to the rival New York Islanders in exchange for a third-round pick. Following the Olympic break, New York has 12 days until the NHL trade deadline on March 6 to further reshape their roster. Veteran center Vincent Trocheck, who carries a $5.625 million cap hit, is among other players expected to generate trade interest.
Panarin’s Personal Role in the Trade and Contract Extension
Panarin held a full no-trade clause, granting him control over his destination, and reportedly requested a trade exclusively to the Los Angeles Kings. Shortly after the trade was finalized, Panarin agreed to a two-year contract extension with the Kings, worth an average annual value of $11 million.
During his tenure with the Rangers, Panarin led the team in scoring every season since joining as a free agent in 2019. He amassed 205 goals and 607 points over nearly seven seasons with New York and recorded a career-high 120 points in the current 2023-24 season. Across his NHL career, Panarin has totaled 321 goals and 927 points in 804 regular season games.
This trade marks the end of Panarin’s impactful run with the Rangers and signals a pivotal moment for the franchise as they seek to build a younger, more flexible roster to contend in future seasons.
Breaking: The LA Kings have acquired standout forward Artemi Panarin from the NY Rangers in exchange for a conditional third-round pick and prospect Liam Greentree, per @AdamSchefter and @emilymkaplan. pic.twitter.com/MZ7x4Xu14j
— ESPN (@espn) February 4, 2026
I’m told the Kings were the only team Artemi Panarin wanted to go to and the only team #NYR had to work with.
Return is Liam Greentree, a conditional 3rd that can become a second if the Kings win 1 playoff round (would be better of two Kings 3rds) and a conditional…
— Mollie Walker (@MollieeWalkerr) February 4, 2026
