Artemi Panarin trade sends star winger to LA Kings, Rangers land Liam Greentree
Artemi Panarin is on the move in one of the biggest NHL deals of the season, with the LA Kings acquiring the veteran winger from the New York Rangers just before the league’s Olympic roster freeze took effect on Wednesday, Feb. 4, 2026 (ET). The centerpiece of the return for the Rangers is Liam Greentree, a first-round prospect, plus conditional draft picks that can grow if Los Angeles goes on a playoff run.
The deal reshapes two trajectories at once: the Kings add an elite point producer for a Stanley Cup push, while the Rangers pivot toward a younger timeline and future assets.
What the Kings and Rangers agreed to
The framework is straightforward: an immediate impact scorer to Los Angeles, and a prospect-plus-picks package to New York.
| Item | Details |
|---|---|
| Player to Kings | Artemi Panarin |
| Return to Rangers | Liam Greentree + conditional 2026 3rd-round pick + conditional 2028 4th-round pick |
| Pick conditions (high level) | 2026 pick can upgrade with playoff success; additional condition can add value if a deeper run happens |
| Salary retained | Rangers keep 50% of Panarin’s remaining 2025–26 salary |
| Extension | Panarin agreed to a two-year, $22 million extension with Los Angeles (AAV $11 million) |
Timing mattered: the transaction was completed in the final stretch before the NHL’s roster freeze for the Winter Olympics period, which pauses most player movement until late February.
Panarin trade: why it happened now
For the Kings, the logic is “win-now.” Panarin gives them a high-end playmaker-finisher hybrid who can tilt a series with power-play creation and top-line scoring. The salary retention is also crucial: keeping half of the cap hit on the Rangers’ books makes the fit far easier for Los Angeles without stripping the roster down to match money.
For the Rangers, this is a strategic reset. Trading a marquee scorer in his mid-30s signals the organization is prioritizing a retool around younger pieces and flexibility. Retaining salary is the painful part of the equation, but it also increases the quality of the return—especially when the player had significant control over where he would accept a move.
Why Los Angeles wanted Panarin
Even at 34, Panarin remains one of the league’s most reliable producers. Before the deal, he led the Rangers in scoring with 57 points in 52 games, and he brings a repeatable toolkit that tends to age well: controlled entries, puck distribution under pressure, and power-play sequencing.
For the Kings, the appeal is not only raw points. It’s how Panarin changes the geometry of a lineup:
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a true first-line driver who can create offense without perfect conditions,
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a power-play quarterback on the wing who forces penalty kills to “pick their poison,”
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and a playoff-style puck manager who can hold possession when games tighten.
His new extension also signals this isn’t a rental-only gamble; it’s a commitment through the end of the 2027–28 season.
Liam Greentree: the prospect coming to New York
Greentree is the kind of prospect return that gives a fan base something tangible to track immediately. The 20-year-old right winger was selected in the first round in 2024 and has been producing at a high rate in major junior, showing a blend of size and scoring touch that projects well for pro usage.
In the current season, he has 45 points in 34 games in the OHL, including 23 goals. The Rangers will be betting on two things: that his scoring translates as he climbs levels, and that his frame and pace can fit a modern top-six role rather than topping out as a specialist.
Greentree also arrives on a development-friendly timeline. New York can integrate him without forcing immediate NHL minutes, while using the conditional picks to keep building options for future deadline swings.
What this means for both teams next
For Los Angeles, the next question is deployment: where Panarin slots at even strength, and how the power play is rebalanced around him. The most immediate “tell” will be whether he’s used as a primary puck carrier on a top unit, or as a driver to stabilize a second wave that can punish teams for stacking against the first line.
For New York, the focus shifts to asset management. With the trade deadline still ahead on March 6, 2026, the Rangers can use the post-freeze window to evaluate what else should be moved, what must be protected, and how quickly a younger core can be turned into a competitive roster again.
Sources consulted: Reuters, National Hockey League, ESPN, Los Angeles Times
