Panarin Trade Might be Rare Lose-Lose Deal

In the final hour before the Olympic roster freeze, the New York Rangers traded Artemi Panarin to the Los Angeles Kings. They held him out of the lineup for a week, knowing a trade was coming, and after multiple rumors and reports, the Kings got the deal done and landed the star winger.

With all the speculation and questions about where Panarin would end up, the end result is underwhelming. Panarin goes to the Kings and the Rangers don’t end up with much in return. It sets up for a rare lose-lose trade where nobody benefits in the long run.

Rangers Receive Underwhelming Haul

The Rangers ended up with Liam Greentree, a conditional 2026 third round pick, and a conditional 2028 fourth. Greentree is a top prospect in the Kings system but not a top prospect according to many rankings. The Rangers are high on him but they must hope everything works out and he becomes a key part of the future, which, with prospects, is unlikely.

On top of that, the Rangers didn’t get back a first round pick, something a player of Panarin’s caliber should bring in a return. This trade looked a lot like the Patrick Kane deal in 2023, where the Rangers ironically got the better of the Chicago Blackhawks and sent back an underwhelming return.

The two trades have their parallels because both Kane and Panarin had the leverage, and the teams didn’t. They could handpick their destinations with the no-trade clauses attached to their contracts. That said, the Rangers still could have found ways to get more for Panarin. He was their best player and arguably most valuable trade asset, and it’s a grim sign for a team that’s starting to retool (or potentially rebuild).

Does Panarin Get The Kings Over The Hump?

The other side of things is the Kings, who don’t give up a lot to get arguably the best player on the trade block. The Kings are better now than they were before the move, and he brings them closer to the Cup.

That said, does Panarin move the needle? The Kings sit in fifth place in the Pacific Division with only four points separating them from the Vegas Golden Knights, who have the best record in the division. So, Panarin can put them in the playoffs and in a good spot for a run but would the Kings be favored in a series against the Golden Knights or the Edmonton Oilers? Are they now built to go on a run because they added more offense to their lineup?

The offense was a weakness before the trade but in the playoffs, they still lack the firepower to beat the top teams in the Western Conference. Panarin helps but the Kings still have work to do. Plus, there’s no telling if they’ll make the playoffs after all, sitting in fifth in the division at the moment and on the outside of the wild card looking in. It would be a surprise if they miss the playoffs, and this splash is a flop.

An Extension Changes Things for the Kings

The big plus for the Kings is that they locked Panarin down, at least for the time being. After acquiring him, they gave him a two-year extension with an $11 million average annual value (AAV). They don’t have to worry about losing him for nothing at the end of the season, and their window to win is open for the short-term

The problem the Kings run into is in the long run. This is a team that’s still flawed, and Panarin doesn’t fix all of their issues. Many people pointed to the Kings as a team that needed a reset, and instead, they are doubling down, trying to win with an aging group that’s starting to decline. There’s a good chance Panarin walks after this deal is done, and they are in a bigger hole and need a long-term rebuild that takes years to recover from. But that’s the risk you take sometimes.

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