Today was the NHL roster freeze ahead of the 2026 Winter Olympics, and as many expected, Artemi Panarin was traded. In a long-awaited deal, the Los Angeles Kings acquired the Russian star in exchange for Liam Greentree and a conditional third-round pick in the 2026 NHL Draft. The condition on the pick is that if the Kings win one playoff round this season, it will be upgraded to a second-round pick.
Shortly after the trade was announced, the Kings revealed that Panarin had signed a two-year contract extension. The deal carries an AAV of $11 million. It was widely speculated that Panarin wanted to be traded to a team willing to sign him long-term. Now he has a new home in Los Angeles, which was reportedly his preferred destination.
Grading the Panarin Trade
Kings Grade: A
The Kings earn an A for this trade. Once it became clear that Panarin only wanted to play in Los Angeles, LA was able to take advantage of the situation. They landed an elite goal scorer who could eventually take over as the team’s offensive focal point. Which will be huge when Anze Kopitar officially retires at the end of the 2025-26 season. Panarin adds another layer of scoring to an already strong top-six. He should fit seamlessly alongside Adrian Kempe and Kevin Fiala. Both are two of the Kings’ other top-scoring wingers.
There’s also the option of slotting him in with Quinton Byfield, who is expected to become the face of the organization once this season wraps up. Panarin’s career-high in goals is 49, set during the 2023-24 season with the Rangers. This year, he has 19 goals and 38 assists for 56 points in 52 games. With the acquisition, Panarin now leads the Kings in scoring. He is sitting 12 points ahead of Kempe, who previously led the team. All it cost was their top prospect and a conditional third-round pick.
Rangers Grade: C+
For the Rangers, this deal is a bit more complicated. They were open about wanting to move Panarin, but because he controlled his destination and chose the Kings, their leverage was limited. Still, they managed to acquire a strong prospect in Greentree. He now has a chance to become an important piece of their rebuild.
“We valued him, a prospect like him, higher than a ’26 or ’27 first-round pick. He’s an ’06 birth year and ready to turn pro and wrapping up on his junior career,” said GM Chris Drury. Greentree’s NHL comparable at the draft was Jason Robertson, who has turned into a strong secondary star with the Dallas Stars. That alone gives the Rangers something to build around.
Now that Panarin is off the books, New York can shift its focus to other players. For example, they could focus on Vincent Trocheck, who could potentially bring back a bigger return due to greater team control. Drury added, “It’s never easy to move a player of Artemi’s caliber, but it’s provided us an opportunity to accumulate valuable assets for the future…As I stated in the letter to our fans, no one is happy with the way we have performed this year. As the president and GM, this is ultimately my responsibility.
In the end, landing Greentree and a conditional third that could become a second-round pick for a player who dictated his landing spot is a respectable return. Even if it falls short of what Panarin might have fetched with more teams, it was still decent.
Next: Artemi Panarin Signs Discount Extension with Kings Following Trade
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