Rangers Trade Artemi Panarin to Kings for Prospect and Pick as Star Winger Signs Two-Year Extension Worth $22 Million

The New York Rangers completed one of the most significant trades of the 2025-26 season on Wednesday, February 5th, sending star forward Artemi Panarin to the Los Angeles Kings just hours before the Olympic roster freeze took effect. The 34-year-old Russian winger, who led the Rangers in scoring for six consecutive seasons, immediately signed a two-year contract extension worth $22 million ($11 million AAV) with his new team. In return, New York received forward prospect Liam Greentree and a conditional third-round pick in the 2026 NHL Draft that becomes a second-rounder if the Kings win one playoff round this season.

Panarin had been the Rangers' offensive engine since signing a seven-year, $81.5 million contract on July 1, 2019, leading the team in points every single season of his tenure. This year was no exception, as he topped the Rangers with 57 points (19 goals, 38 assists) in 52 games before the trade. His departure marks the end of an era in New York, where he became one of the most electrifying playmakers in franchise history. The Rangers are retaining 50% of Panarin's remaining salary for this season, reducing his cap hit to $5.8 million for the Kings.

The trade comes after Rangers general manager Chris Drury announced on January 16th that the team would undergo a roster retool and informed Panarin that he would not be re-signed beyond this season. Rather than let him walk for nothing in free agency, the Rangers granted Panarin's request to be traded to Los Angeles, where he'll join a Kings team pushing for a deep playoff run. The move gives Los Angeles one of the league's premier playmakers and power-play specialists to complement their existing core.

NHL EDGE statistics suggest the addition of Panarin significantly improves the Kings' Stanley Cup Playoff chances, adding elite offensive talent to a team already positioned for postseason success. Two other teams reportedly came close to acquiring Panarin before the Kings finalized the deal, but Los Angeles was always the veteran's preferred destination. The timing proved critical, as all NHL trades are frozen during the Olympic break that begins February 6th and runs through February 24th.

For the Rangers, this trade represents a painful but pragmatic decision to rebuild on the fly rather than lose Panarin for nothing. Greentree, the prospect acquired in the deal, gives New York a young forward to develop as they reshape their roster for the future. Rangers management expressed gratitude for Panarin's contributions while acknowledging the team is ready to "move on" and build around a younger core. The Olympic roster freeze means no further NHL trades can occur until late February, when teams will resume maneuvering ahead of the March trade deadline.

Panarin's first game in a Kings uniform will come after the Olympic break concludes on February 25th, as NHL players head to Milano Cortina to represent their countries. The two-year extension ensures he'll be part of Los Angeles' long-term plans, potentially giving the Kings a legitimate chance to contend for the Stanley Cup over the next two seasons with one of the game's most dynamic offensive players now in their lineup.