Kings acquire forward Artemi Panarin w/ 2-yr extension (AAV: $11,000,000) for Liam Greentree & two conditional picks

WOW.

The LA Kings have acquired forward Artemi Panarin from the New York Rangers in exchange for forward prospect Liam Greentree and two conditional draft picks. New York has retained 50 percent of Panarin’s salary, which brings Panarin in at a salary-cap hit of under $6 million for this season. Additionally, Panarin has signed a two-year contract extension with the Kings, with an AAV of $11 million per season, through the end of the 2027-28 season.

Instant Analysis
I mean, wow……WOW.

I’ve got a lot of thoughts here. Not even sure if I can get them all in one story at this speed.

Artemi Panarin was arguably the number-one player on the market, carrying a No-Movement Clause, and he waived that to come to Los Angeles. Right off the bat, this is a really, really, really exciting player. I used to stream Columbus Blue Jackets games when I was younger just to watch him play and it takes a lot to get me to do that. An immediate impact player offensively for a team that is starved for offensive production. Terrific add for the Kings, who should help both at 5-on-5 and on the power play.

I also thought it would take significantly more to acquire Panarin than it wound up being. Liam Greentree was the number-one prospect in the pool for the Kings and that is obviously a loss. But to move one prospect and two conditional draft picks, which can only become as high as a second, feels like a massive win for the Kings. As reported, the conditions are based around the Kings winning a playoff series, which would see the third become a second. If the Kings win two rounds, they also add in a fourth-round pick. If the Kings do those things, the price paid will be more than worth it and then some. Per Mollie Walker of the New York Post, Panarin indicated to the Rangers that the Kings were the only team he was interested in moving to. That’s huge to hear that about a true star player in the NHL. It also lessened the return that the Kings had to pay in order to acquire him, because Panarin held all the leverage in that situation. As a pending unrestricted free agent, who has a full no-movement clause, who was informed he would not be offered a contract extension, he had full say on where he went next. That somewhere is Los Angeles and the Kings are the beneficiaries of that situation. Huge, huge win.

As reported by Sportsnet’s Elliotte Friedman, there is a contract extension in place between Panarin and the Kings for two additional seasons, carrying an AAV of $11 million per season. The Kings have a ton of salary-cap to work with and can offer him both term and salary, depending on what the player is looking for. The Kings are not in a no-tax state but even the extension feels like a discount for a player of that caliber. They were in a position to offer Panarin whatever was required for next season and beyond. With cap raises in effect, plus seeing Anze Kopitar’s number coming off the books, there was more than enough room to get Panarin what he wants to stay in Los Angeles beyond this season. I’d have thought this trade was a win at $14 million. At $11 million? I mean, cmon. What a move.

Kings General Manager Ken Holland is set to address the media before tonight’s game at Crypto.com Arena. We’ll get the details from Holland then on the move, the status of when Panarin might join the team and more. Assume we will get word from Holland on whether Panarin might be an option for tomorrow night’s game in Vegas, seeing as he could meet the team and slot right into action. Have to assume tonight is just too soon, but tomorrow could be an optin. I think it’s important, even if he does not play tomorrow, that the Kings got him before the roster freeze, so that he has time to adapt and settle in with the team before games resume on the other side of the break. The Kings return to practice on February 18 and they have around a week on the ice before games resume. That’s great to get him integrated into the group, get to know his teammates and coaches and learn how he fits into the mix here with the Kings.

Another way you can look at this trade is in the larger picture. At 50 percent retained, the Kings acquired Panarin for right around the same cap hit as forward Phillip Danault. Essentially, the Kings moved Danault, Greentree and the conditional picks for Panarin and a second-round pick. They upgraded their draft picks while adding a player who collected 89 points last season and 120 the year before that, scoring as well over a point-per-game pace throughout his career. To get him along with a contract extension makes the move that much better.

Got to give this one to Ken Holland and his staff for getting this job done. Perhaps the best deal this franchise has executed in some time.

From the team’s official release –

The LA Kings have acquired forward Artemi Panarin from the New York Rangers in exchange for forward Liam Greentree, a conditional third round pick in the 2026 NHL Draft and a conditional fourth round pick in the 2028 NHL Draft. The Rangers retain 50% of Panarin’s contract through the 2025-26 season.

In addition, Panarin agreed to terms on a two-year contract worth an average annual value (AAV) of $11,000,000 through the 2027-28 season.

Panarin, 34, has skated in 52 games for the Rangers this season, recording 19 goals and 38 assists as part of his 11th consecutive 50-point campaign (19-38=57) with 17 even-strength goals, three game-winning goals, two power-play goals, 158 shots and 14 penalty minutes (PIM). His 38 helpers, 57 points and 158 shots pace all Rangers skaters while his 19 goals rank second-most on the team. Panarin completed his sixth season with the Rangers in 2024-25, collecting 37 goals and 52 assists for 89 points (37-52=89) to mark his fifth 80-point season with the team and seventh of his career.

An NHL All-Star in 2023, Panarin joins the Kings as a veteran of 804 career regular-season NHL games across 11 seasons between the Rangers (2019-26), Columbus Blue Jackets (2017-19) and Chicago Blackhawks (2015-17). The 6-0, 175-pound forward has accumulated 321 goals and 606 assists for 927 points (321-606=927) with 77 power-play goals, 50 game-winning goals, 10 overtime goals, a 1.15 points-per-game average and cumulative +131 rating. Panarin is one of 10 active skaters with a point-per-game average over 1.00 while skating in at least 800 contests, ranking fifth-highest among that group, and is the only active undrafted skater with at least 300 goals. He has added 21 goals and 61 points (21-40=61) in 73 career Stanley Cup Playoff contests

Since joining the Rangers ahead of the 2019-20 season, Panarin’s 205 goals, 402 assists, 607 points (205-402=607), 158 even-strength goals, 404 even-strength points and 202 power-play points pace all Rangers skaters while ranking second in overtime goals (3) and shots (1,394), and third in power-play goals (47) and overtime goals (25). Among team forwards in that span, Panarin’s even-strength time-on-ice per game (TOI/GP; 16:27) and power-play TOI/GP (3:28) both lead the team while his takeaways (243) and penalties drawn (104) each place second.

The Korkino, Russia native’s debut NHL season came in 2015-16 with Chicago where he led all League rookies in goals (30), assists (47), points (77), even-strength goals (22) and game-winning goals (7) in 80 games to earn the Calder Memorial Trophy as well as NHL All-Rookie Team honors. He made his Stanley Cup Playoff debut that same season, tallying two goals and seven points (2-5=7) in seven contests. Panarin’s best NHL season came in the 2023-24 campaign where he was one of four skaters in the League to eclipse the 120-point mark, setting career-marks in goals (37), assists (52), points (120) in 82 games to lead the Rangers to their fourth President’s Trophy in franchise history.
Internationally, Panarin has represented Russia in five different tournaments, including three International Ice Hockey Federation (IIHF) Men’s World Championships (2017 – bronze, 2016 – bronze, 2015 – silver), one IIHF Men’s World Junior Championship (2011 – gold) and one World Cup of Hockey (2017). His best international performance was in the 2017 IIHF World Junior Championship where he tallied a tournament-best 13 assists and 17 points (4-13=17) in nine games to earn the tournament’s All-Star Team and ‘Best Forward’ honors.