Panarin traded to Kings by Rangers, signs 2-year contract

Artemi Panarin was traded to the Los Angeles Kings by the New York Rangers on Wednesday and signed a two-year, $22 million contract. It has an average annual value of $11 million and begins next season.

In return for the 34-year-old forward, the Rangers received forward prospect Liam Greentree and a conditional third-round pick in the 2026 NHL Draft. If the Kings win one playoff round this season, the pick will become a second-round pick. If Los Angeles wins two playoff rounds, New York will also receive a fourth-round pick in the 2028 NHL Draft.

Panarin, who is in the last of a seven-year, $81.5 million contract he signed with the Rangers on July 1, 2019, waived his full no-movement clause to join the Kings. New York will retain 50 percent of his remaining salary.

“Obviously, we made the deal today to make our team better," Kings general manager Ken Holland said. "We signed him to a two-year extension. We weren’t going to do it as a rental. He didn’t want to go anywhere as a rental. He wanted to find a home, so we’re thrilled that he wanted to waive the no-trade (clause) to come to LA. We’re happy that we were able to get him to a two-year extension, and after two years, I’m hoping that we’re working on another extension, but (I’ll) worry about that down the road. I think it was just a matter of these types of players with this resume are very, very difficult to find, and we had an opportunity to add one today.”

Holland said Panarin would not play against the Vegas Golden Knights on Thursday (10 p.m. ET; FDSNW, SCRIPPS, SNE, TVAS) in the Kings' final game before the break for the Olympic Winter Games Milano Cortina 2026, but that he would likely take the ice with the team at their next scheduled practice on Feb. 18.

Los Angeles coach Jim Hiller said the addition of Panarin will spark the team's production immediately.

“He’s just a dangerous offensive player, somebody, you know, clearly that we’ve been missing and will be a real boost, I think, for our team," Hiller said. “He’s one of the premier wingers in the League, has been for so many years. What a track record. And he’s a one-shot shooter, like he can find the back of the net. He doesn’t need a lot of looks. And on top of that, he can find people, and he’s a playmaker.

"Whoever ends up getting to play with him most consistently, I think it’ll take a little time just to get used to, he does play a little bit of a different style of game. Might take somebody a little bit of time of adjust. But he’s going to be somebody that really, obviously, we’re going to lean on a lot. We check, we do all the right things that way. We just need somebody to help us find the back of the net.”

Panarin's new teammates are just as excited.

“We’re obviously thrilled," defenseman Brandt Clarke said. "He’s a phenomenal player. You see the highlights, you see what he does with the puck, the patience he has, the shot he has. And it seems like he wanted to come here, he wanted to be an L.A. King. We have a bunch of guys on this team that want to be L.A. Kings and want to contribute to this organization, and to add another guy like that with that mentality, it’s awesome to hear, and we’re looking forward to getting him in here."

Forward Andrei Kuzmenko said: “He is superstar, and a great player, and we need him. So simple, it’s a lot of points, a lot of goals. … I don’t know what I say to (describe) him. Superstar? Right. Best scorer? Right. Best assists? Yes. Offensive zone, unbelievable player. I’m just so excited.”

Panarin was held out of the past three games for roster management purposes leading up to the roster freeze for the Olympics, which began at 3 p.m. ET on Wednesday. The first game he missed was a 5-2 loss at the New York Islanders on Jan. 28. The Rangers announced their plans to retool the roster Jan. 16 in a letter to the fans from president and general manager Chris Drury. As part of that letter, he said they would be saying goodbye to players who have been a part of their recent successes.

"As I said in the letter we need to get younger and inject more skill and speed into our lineup while maintaining flexibility to be smart and opportunistic," Drury said. "Our fans deserve a Stanley Cup, not a team just hoping to get in as the last wild card, so we felt it was best to start this organizational shift sooner than later. That will be the guiding principle with every decision we make as an organization, how does this help us return to being a Stanley Cup contender."

The Rangers (22-28-6) are last in the Eastern Conference. They trail the Islanders by 17 points for third place in the Metropolitan Division, and are 19 behind the Boston Bruins for the second wild card into the Stanley Cup Playoffs.

"Panarin is a terrific player and a great teammate, and he's good friends with a lot of the guys that are in that dressing room," Rangers coach Mike Sullivan said following the loss at the Islanders. "That has an impact on guys. I thought our guys did a great job, just as far as controlling what they can and bringing the right intentions out there. But obviously, he's one of the best Rangers of his generation, and he's not an easy guy to replace, not in the lineup, but everybody understands it."

Panarin was New York's leading scorer every season since joining the team. He has 57 points (19 goals, 38 assists) in 52 games this season and is ninth in Rangers history with 607 points (205 goals, 402 assists). He had 35 points (12 goals, 23 assists) in 46 playoff games and helped them reach the Eastern Conference Final in 2022 and 2024.

"Artemi is an incredible player, arguably the best free-agent signing in the 100-year history of the franchise," Drury said. "He deserves a chance to win and we want to give him that chance as we retool the team. As we retool the team it's never to easy to move a player of Artemi's caliber but it's provided us an opportunity to accumulate valuable assets for the future."

Prior to joining the Rangers, Panarin, who was undrafted, played two seasons for the Chicago Blackhawks from 2015-17, winning the Calder Trophy voted as NHL rookie of the year in 2015-16, and two seasons with the Columbus Blue Jackets from 2017-19. He has 927 points (321 goals, 606 assists) in 804 regular-season games and 61 points (21 goals, 40 assists) in 73 playoff games.

“He’s had more than a point a game for nine consecutive years, those players are hard to find, so we went ahead and did the deal because he’s got talent," Holland said. "And certainly, now, we got to figure out who he fits with and how we get the most out of him.”

Greentree, a 20-year-old forward, has yet to make his NHL debut. Selected by Los Angeles in the first round (No. 26) of the 2024 NHL Draft, he has 45 points (23 goals, 22 assists) in 34 games with Windsor of the Ontario Hockey League this season.

"He brings a lot to the table," Drury said. "Just looking at his numbers and his offensive production, it’s very exciting. He’s got some size to him. He’s got a really good hockey IQ and a lot of skill. Skill is obviously an important piece for any group, any development staff and any draft pick. You’re trying to identify players that you think can get to this stage, play in big moments and make big plays. Specifically him, we valued a prospect like him higher than a No. 26 or 27 pick. He’s an ’06 birthday and ready to turn pro, wrapping up his junior career. Looking forward to getting him in development camp, but certainly excited about having him as a piece in this trade.”

The Kings (23-18-14), who are fifth in the Pacific Division, are three points behind the Anaheim Ducks for the second wild card into the playoffs from the Western Conference after losing 4-2 to the Seattle Kraken on Wednesday.

“You bring in one of the premier players in the League, it’s always a boost to your morale, it’s always a boost to your confidence," Brandt said. "Probably going to be playing with the puck a little bit more, which is exciting. … To have him on the horizon and this hunt for the playoffs on the horizon, it’s exciting times, and that’s kind of where we’re at.”

Holland said: “We’ve lost 14 games in extra time, (played) 23 overtime games, so we’re competitive. We just need an extra goal here and there to win a few more games, and we believe that Panarin is going to come in and give us a little pop, help the (power play). When we go into overtime, certainly he can play in the extra time, those points are crucial. Didn’t want to give away Greentree, but if you want to do anything, you’re going to have to move somebody.”

The Rangers previously traded Carson Soucy to the Islanders on Jan. 26. The 31-year-old defenseman debuted for the Islanders against the Rangers on Jan. 28. He is in the final season of a three-year, $9.75 million contract ($3.25 million AAV) he signed with the Vancouver Canucks on July 1, 2023, and can become an unrestricted free agent after this season.

NHL.com independent correspondents Stefen Rosner and Dan Greenspan contributed to this report