At exactly 3 pm, the hockey world was left stunned at the return the NY Rangers received for Artemi Panarin from the Los Angeles Kings. First off, the news of the trade was broken by NFL Insider Adam Schefter of all people, along with Emily Kaplan of ESPN. Second, and most importantly, was the underwhelming return of Liam Greentree, a conditional 2026 third-round pick, and a conditional 2028 fourth-round pick.
The NY Islanders were a name floated as a possible destination for Panarin, finishing runner-up in the Panarin sweepstakes in 2019 when he was looking to play in New York. But a deal was never likely to materialize, with the Rangers' reluctance to make the Islanders a true contender and the Islanders unwillingness to streamline the Rangers rebuild. But the trade has immediate and future repercussions for the Isles.
The Islanders were a winner today
ARTEMI PANARIN IS AN LA KING. 🍞
— LA Kings (@LAKings) February 4, 2026
Full release 📰📲 https://t.co/2pUOAa8SPk pic.twitter.com/u5NwmyQ7m5
Seeing Panarin shipped to the Western Conference is a positive for all Eastern Conference teams. The Carolina Hurricanes and Washington Capitals were rumored to be major players vying for Panarin's services. The Isles are trying to hold off the Capitals in the playoff race, while the Hurricanes could become playoff opponents once again. The Tampa Bay Lightning and Florida Panthers were also possible destinations for Panarin, the only two teams to win the Eastern Conference over the last six seasons. But now he's headed West.
It's being reported that Panarin's choice was to play in LA. The Rangers allowed Panarin and his agent to help in the search for a trade partner. This and Panarin's no-trade clause severely limited Rangers GM Chris Drury's leverage in getting the best possible return for his team. The Rangers were looking for a similar return to what the Islanders received in the Brock Nelson trade, a first-round pick and a highly regarded A-level prospect, and it's safe to say they got nothing close to that.
While no-trade or no-movement clauses are handed out like candy across the league, it's rarely seen over the entirety of a contract. If Panarin helped bring a Stanley Cup back to Madison Square Garden, it obviously would have been worth it. But he didn't. And now the Rangers are losing their best player over the last eight seasons for very little. While the Islanders have been hunting for a goal-scoring winger, perhaps in free agency, it's going to be difficult for Darche or other GM's across the league to be willing to hand out NMCs, regardless of the player.
Now that the deal is done, it's a positive outcome for the Islanders. Their biggest rival loses their top player for a finite return, doesn't speed up the rebuild process, and Panarin leaves the Eastern Conference. They weren't involved in the trade, but it was a good day for the Islanders.
