The Los Angeles Kings have acquired left winger Artemi Panarin from the New York Rangers in exchange for Liam Greentree and a conditional third-round pick. Panarin also signed a two-year extension with the Kings at $11 million per season.
The Los Angeles Kings have won the Artemi Panarin sweepstakes as they acquired the superstar left winger from the New York Rangers just moments before the Olympic break roster freeze.
ESPN's Adam Schefter and Emily Kaplan were first to report Panarin's move to Los Angeles. In exchange for Panarin, the Rangers are receiving Kings prospect Liam Greentree, a 2026 conditional third-round pick and a 2028 conditional fourth-round pick.
Shortly after the deal was reported, the Kings inked Panarin to a two-year contract extension at $11 million per season.
Additionally, reports point out that New York is retaining 50 percent of Panarin's salary. The Russian earns $11.6 million against the salary cap, but that gets cut down to around $5.8 million.
Also, TSN's Chris Johnston reported that the conditional third-round pick that the Rangers are receiving from the Kings would turn into a second-rounder if Los Angeles wins a playoff round this year.
And, if the Kings win two rounds in the upcoming post-season, the Rangers would also receive a 2028 fourth-round pick in addition to the second-rounder.
Several teams had their eyes on the star Russian forward, but Kings GM Ken Holland is the one who comes out victorious in the highly-populated race. Several reports say that Panarin told the Rangers that Los Angeles was the destination that he preferred.
Artemi Panarin (Stan Szeto-Imagn Images)Reports over the last week or so pointed out that Panarin is looking for a contract extension to go along with a trade, and the player's wish was granted.
As mentioned, the playmaker signed a two-year extension with the Kings worth $11 million per season.
The Kings have $14.2 million in salary cap space, according to puckpedia.com, allowing plenty of room in terms of finances for Panarin's new contract, which kicks in next season.
Panarin has 19 goals and 38 assists for 57 points in 52 appearances this season for the Rangers. However, he's been sidelined since Jan. 26 as the Rangers wanted to protect him before being moved.
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