After days of waiting on a trade partner for star forward Artemi Panarin, the New York Rangers found one, although it featured a return that fans weren't thrilled about. On Wednesday, just before the 3:00 p.m. Olympic roster freeze, the Rangers agreed to trade Panarin to the Los Angeles Kings in exchange for prospect Liam Greentree, a conditional 2026 third-round pick, and a conditional 2028 fourth-round pick.
Given Panarin was arguably the top player on the trade block, Rangers fans dreamed of a huge return. That's why they weren't excited about the team receiving one prospect and a third round pick this year that could become a second-rounder if the Kings win a playoff round. But the reality is the Rangers didn't have much leverage, as Panarin carried a full no-move clause, meaning he had say as to where he wanted to be dealt. That team was the Kings.
As it turns out, a trade to the Kings nearly never happened.
Sportsnet NHL insider Elliotte Friedman revealed in a report on Thursday that the Kings' pursuit of Panarin nearly fell apart. That's because the Kings weren't comfortable giving Panarin a $45 million extension they were discussing. That caused Panarin's agent to call around the league to increase the bidding. Even so, Panarin expressed on Wednesday that he wanted to go to the Kings, and both sides agreed to terms on a trade and the two-year, $22 million contract.
Artemi Panarin's trade with the Kings nearly fell apart
"According to multiple sources, the Kings’ Panarin pursuit almost fell apart over the last couple of days. From the beginning, they were nervous about term on an extension for the 34-year-old winger," writes Friedman. "But the two sides were discussing something in the $45 million range. (My guess is five years at a $9 million AAV, but don’t know that for sure.)
"On Tuesday, that fell apart. Los Angeles wasn’t willing to go there. Panarin’s agent, Paul Theofanous (who could not be reached for comment) contacted several teams to juice the bidding. Only he knows what he really told people, but word spread like wildfire that he’d indicated Panarin was going to Carolina and someone else was willing to pay $60 million (a four-year contract with a $15 million AAV)."
To make matters even more intriguing, one of the Kings' rivals in the Pacific Division were pushing hard for Panarin. That team was the Seattle Kraken.
According to Friedman, the Kraken offered Panarin a four-year contract extension "with an AAV higher than Leon Draisaitl's." For those unaware, Draisaitl of the Edmonton Oilers earns an annual salary of $14 million per year. That's how serious the Kraken were to bring in Panarin, where he would have reunited with former Rangers players like Kaapo Kakko and Ryan Lindgren.
Seattle's pursuit was all for naught, as it was for the Carolina Hurricanes, Washington Capitals, and Utah Mammoth. Panarin let it be known that he wanted to play for the Kings, and only the Kings. He agreed to terms on the $22 million extension over two years, even leaving money on the table to play for Los Angeles. That then allowed the Rangers to negotiate a deal, where they hope that Greentree can develop into a legitimate top six forward.
It's unknown what the Rangers could have gotten in return from other teams besides the Kings. As it turns out, they were close to finding out before Panarin decided to do the Kings a solid and declare that he wanted to play for the Western Conference playoff contender.