Rangers Complete Blockbuster Trade Sending Artemi Panarin to Kings Ahead of Olympic Break

The New York Rangers executed the biggest trade of the 2025-26 NHL season on Monday, sending superstar forward Artemi Panarin to the Los Angeles Kings just before the Olympic roster freeze took effect. The blockbuster deal marks a dramatic shift for both franchises and represents the Rangers' commitment to retooling after a disappointing first half of the season.

In exchange for the 34-year-old Russian winger, the Rangers received highly-touted prospect Liam Greentree, a conditional third-round pick in the 2026 draft that can upgrade to a second-rounder if Los Angeles wins a playoff round, and a conditional 2028 fourth-round pick. The Rangers will retain 50 percent of Panarin's remaining salary, making the deal financially feasible for the Kings as they push for a Stanley Cup championship.

Immediately following the trade, Panarin agreed to a two-year contract extension with the Kings worth an average annual value of $11 million through the 2027-28 season. The extension was crucial to completing the deal, as Panarin's no-movement clause gave him complete control over his destination. According to league sources, Panarin specifically requested Los Angeles as his preferred landing spot, allowing the Rangers to negotiate with only one team.

The trade represents a stunning fall for a Rangers organization that entered the season with championship aspirations but found themselves languishing in last place in the Eastern Conference at the Olympic break. Panarin had been the franchise's most consistent offensive threat since joining the team, but management decided a significant roster shakeup was necessary to salvage their long-term competitive window. The move signals that additional trades could be coming when the Olympic freeze lifts on February 25th.

For the Kings, acquiring Panarin represents an all-in move for the Stanley Cup this season and beyond. The veteran playmaker brings elite offensive skills, playoff experience, and leadership to a Kings team currently positioned as a Western Conference contender. Panarin will join a talented forward group and provide the Kings with a legitimate game-breaking threat they've lacked in recent postseason runs. The NHL season now pauses for the Milano Cortina 2026 Winter Olympics, giving Panarin time to integrate with his new teammates before making his Kings debut when play resumes later this month.