The New York Rangers traded pending UFA Artemi Panarin to the Los Angeles Kings, which signed him to a contract extension.
The Los Angeles Kings won the Artemi Panarin sweepstakes.
Los Angeles acquires the star left winger from the New York Rangers in exchange for prospect Liam Greentree, a conditional third-round pick and a conditional fourth-round pick in 2028.
ESPN's Emily Kaplan and Adam Schefter and Sportsnet's Elliotte Friedman were among the first to report the news before the teams announced the deal shortly after on Wednesday.
Panarin also signs a two-year contract extension carrying an $11 million average annual value, the Kings announced.
The conditional third-rounder can become a second if the Kings win one playoff round, according to Mollie Walker of The New York Post. The conditional fourth-rounder transfers to the Rangers if the Kings win two playoff rounds.
Panarin, 34, has 19 goals and 38 assists for 57 points in 52 games. He hasn't played for the Rangers since Jan. 26 as the team tried to find a trade suitor.
In the final season of his seven-year contract worth about $11.64 million annually, he now heads to the Kings, which rank fifth in the Pacific Division and sit one point out of the second wild-card spot in the Western Conference.
With center and captain Anze Kopitar announcing this would be his last NHL season, the Kings are making a push for not only the playoffs but a first-round win and more.
With the Rangers retaining 50 percent of Panarin's remaining salary, Los Angeles still has about $8.4 million in cap space that could become more than $14 million by the trade deadline if the team accrues space.
Greentree, 20, heads to the Rangers while playing for the OHL's Windsor Spitfires this season. He has 23 goals and 45 points in 34 games and had an assist in three games for Team Canada at the World Junior Championship.
The Kings drafted Greentree 26th overall in 2024. He has an entry-level contract.
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