While there wasn’t much trade activity leading into the Olympic trade freeze, one of the biggest moves of the season was made when the Kings acquired winger Artemi Panarin from the Rangers in exchange for prospect winger Liam Greentree along with a 2026 conditional third-round pick that upgrades to a second-round selection if Los Angeles wins a round. Meanwhile, if they win two rounds, New York also collects a 2028 fourth-round selection. Panarin subsequently signed a two-year, $22MM extension shortly following the swap. With the dust now settled on the trade, here are some additional notes on the move.
During his media availability following the swap (video link), Panarin stopped short of directly confirming that extension offers from the Rangers were low-ball proposals but did note that “I don’t know if I should say this but I feel like the contract offer (said), ‘We’re not sure if we want you or not.’” Over the offseason, it was reported that New York had approached Panarin’s camp with some proposals that would see him take a sizable pay cut to remain with the team with some willingness to get creative on the term. With those talks going nowhere, Panarin added that there wasn’t really any reengagement with the Rangers after that point on a new deal.
While Panarin ultimately took the offer from Los Angeles, it was far from the biggest one on the table. Sportsnet’s Elliotte Friedman reported in his latest 32 Thoughts column that the Kraken made an offer of more than $14MM per season in an effort to try to convince Panarin to accept a trade to them. That would have nearly been double the highest amount that the team has given a player so far in their brief tenure with Vince Dunn being their current top-paid player at $7.35MM.
From the standpoint of affordability, teams likely would have preferred the trade to come after the break when there would be less money remaining on his contract (even with the Rangers retaining 50% on his contract to facilitate the move as they did). However, Vince Z. Mercogliano of The Athletic relays (subscription link) that Panarin made it clear that his deadline was the trade freeze so that he would have ample time to settle in with his new club. That might have taken an interested team or two off the table as a result. That said, Panarin ultimately decided that the only team he’d accept a move to was the Kings so those other possibilities probably wouldn’t have happened anyway.
PuckPedia has the breakdown of Panarin’s new deal. It’s predominantly paid in the form of signing bonuses to the tune of $20MM over the two years ($11MM for next season, $9MM for 2027-28) while he receives a base salary of $1MM in each season. Additionally, Panarin has a full no-move clause in this contract, just as he does in his current one.