The New York Rangers finally traded Artemi Panarin to the Los Angeles Kings on Wednesday, a move that everyone in the league saw coming. However, the return for Artemi Panarin was lacklustre, with fans pounding down the door for answers. What do the Rangers do now? First though, let’s take a deeper dive into the trade itself.
An Overview of the Trade
In what will no doubt go down as one of the worst trades in Rangers history, the return gives the Rangers little to work with. The return for Panarin is conditional fourth and third-round picks and prospect Liam Greentree (more on him later). The condition for the third-round pick in 2026 is that it becomes a second-rounder if the Kings win a Stanley Cup Playoff round. New York also gets a fourth-rounder in 2028 if Los Angeles wins in the second round. Also, the Rangers are also retaining 50 percent of Panarin’s $11.64 million salary for the rest of this season.
All-in-all, this is simply not enough for a player of Panarin’s calibre, especially if retention is involved. Many believed that the Rangers were looking for a similar return as the Brock Nelson trade. That trade included another player going to the Colorado Avalanche, but the New York Islanders got a first rounder and two prospects. Not getting a first or second round pick for Panarin is close to malpractice. However, the Rangers fumbled the situation, limiting their leverage.
The Letter Comes Back to Bite New York
Writing a letter to the fans before players are traded is apparently becoming a staple in current Rangers history. However, that letter made it almost impossible for the Rangers to get a good return. Every team inquiring about Panarin knew that the Rangers were getting rid of him, as Panarin was a unrestricted free agent next offseason. Panarin then reportedly only wanted to go to the Kings, limiting where the Rangers could send him.
Drury said he was informed “late this morning” that Panarin had decided on LA. #NYR
— Vince Z. Mercogliano (@vzmercogliano) February 5, 2026
That, and the time crunch of getting the trade out before the Olympic freeze put the Rangers in a difficult position. If the Rangers had decided to save the letter until after Panarin had been traded, it’s possible New York could’ve gotten a slightly better return.
Is Greentree Worth It?
The real question mark that will define this trade is how Greentree works out as a Ranger. Greentree was picked by the Kings in the first round of the 2024 NHL Entry Draft, and has shown flashes of great potential. Greentree is young, only 20, and is playing in the OHL, where he’s played well. He’s a big forward, standing at well over six feet and over 200 pounds. In the 2024-25 season, Greentree scored a whopping 119 points in 64 games, almost scoring 50 goals.
Skating and staying focused when the puck is far away is his biggest weakness, but those things can be taught. Greentree has everything that can’t be learned, and his development will be crucial to the Rangers retool. Chris Drury is very high on Greentree, and seemed thrilled that the Rangers acquired him.
Chris Drury on new prospect Liam Greentree: “We valued him, a prospect like him, higher than a ’26 or ’27 first-round pick. He’s an ’06 birth year and ready to turn pro and wrapping up on his junior career.”
— Peter Baugh (@Peter_Baugh) February 5, 2026
Where to go Now?
This move is taking the Rangers in the direction of a full rebuild. New York needs more assets then what they got for Panarin, and they need it quickly. Names such as Vincent Trocheck, Braden Schneider and Alexis Lafrenière will continue to cycle in trade rumours. The Rangers may need to trade multiple, if not all, of these players to get enough resources to build the roster.
Trading Trocheck might be the way to go for New York. As much as the Rangers may want him to stick around, centres at his skill level aren’t readily available. Playoff teams will be willing to trade big pieces to acquire him, and he is the Rangers strongest trade piece. Other names such as Mika Zibanejad may also come up and for good reason. The Rangers need to be ready to move on from big names to get where they want to go, or their future is in big trouble.
Main Photo Credit: Brad Penner-Imagn Images