Understanding Why The Rangers Received An Underwhelming Package For Artemi Panarin

Many New York Rangers fans may look at the Artemi Panarin trade to the Los Angeles Kings and feel underwhelmed. 

Just two conditional picks and one prospect (Liam Greentree) in exchange for a superstar talent the likes of Panarin? How does that make sense?

At the surface level, it is a severely underwhelming trade package, but given the circumstances, Rangers president and general manager Chris Drury was ultimately handcuffed into settling for less value than Panarin is truly worth. 

The Rangers seemingly lost leverage when it was announced on Jan. 16 that the team does not plan to re-sign Panarin beyond this season and will look to trade him to any team he wishes to join.

Panarin’s full no-move clause in his contract allowed him to dictate the exact destination that made the most sense for him. 

Leading up to the trade, it was clear that Panarin was seeking a contract extension from the team to which he would be traded, as his seven-year, $81.5 million contract is set to expire after the 2025-26 season. 

Upon being held out of the Rangers’ lineup starting on Jan. 28 due to roster management, Panarin and his agent, Paul Theofanous, were able to explore the market and determine which teams would be willing to give a contract extension that met their demands. 

According to Vincent Mercogliano of The Athletic, the 34-year-old forward talked to several teams in an effort to negotiate and decide where he wanted to go.

Multiple reports indicate that Panarin zeroed in on the Kings as his preferred destination, and the Rangers were only able to do business with them due to his no-move clause and unwillingness to be traded to any other organization outside of the Kings.

It was Panarin’s desire for a contract extension that gave the Kings an advantage over the multiple reported teams originally in the mix for the Russian winger, including the Washington Capitals, Florida Panthers, Tampa Bay Lightning, San Jose Sharks, and New York Islanders. 

Panarin and his camp always held the cards throughout this entire saga. 

There’s still plenty of blame to go around from Drury's end who, similar to the way in which he traded Chris Kreider, Jacob Trouba, Kaapo Kakko, and Ryan Lindgren, simply waited too long and let this situation with Panarin linger and become public to the point where his value was diminished to what it ultimately could have been.

Clearly, Drury didn't understand and severely overestimated the market value of Panarin. By the time Panarin decided to opt for a shorter-term deal from the Kings, it was too late for Drury to swoop back in, given that he had already made it crystal clear that the Rangers don't plan to re-sign him under any circumstances. 

Even if Drury deemed that a two-year $22 million contract was within reason, he had already burned all bridges with Panarin's camp, losing leverage in the process.

When it came down to it, the Rangers had no leverage, and this return for Panarin is just the harsh reality of the situation.