Gary A. Vasquez-Imagn ImagesThe New York Rangers have reportedly traded Artemi Panarin to the Los Angeles Kings in exchange for Liam Greentree and a conditional third-round pick.
According to Sportsnet's Elliotte Friedman, the Kings and Panarin have agreed upon a two-year contract extension worth $11 million per year.
Pierre LeBrun of TSN indicates that the Rangers are retaining 50 percent of Panarin's salary on his contract set to expire at the end of the 2025-26 season.
Vincent Mercogliano of The Athletic reports that the conditional third-round pick is the better of Los Angeles's two third-rounders in 2026, but if the Kings win one playoff round, it becomes a second. If they win two rounds, the Kings will add a 2028 fourth-round pick.
The Kings were the only team Panarin wanted to go to and the only team the Rangers could work with according to the New York Post's Mollie Walker.
It was widely speculated that Panarin would be dealt ahead of the roster freeze that took effect today at 3 PM EST.
Panarin has been scratched out of the Rangers' lineup over the past three games due to roster management.
Greentree was selected by the Kings in the first round with the 26th overall pick in the 2024 NHL Draft.
In 52 games for the Rangers this season, Panarin has recorded 19 goals, 38 assists, and 57 points, while averaging 20:55 minutes.