The Los Angeles Kings have pulled off a blockbuster trade for Artemi Panarin signing him to a two-year, $22 million extension that runs through the 2027-28 season. While many questioned why the Kings insisted on such a short term when other teams were offering significantly longer deals, NHL insider Greg Wyshynski believes LA might be playing the long game and he’s got two very specific superstars in mind.
On Saturday, Wyshynski tweeted:
“In thinking more about why the @LAKings held firm on a two-year extension for Artemi Panarin, I guess there are a couple of reasons why they might want that money off their cap in 2028 … #NHL”
He added a picture of Oilers captain Connor McDavid and Leafs captain Auston Matthews in the post.
The implication is that by structuring Panarin’s deal to expire after the 2027-28 season, the Kings would have maximum cap flexibility heading into the summer of 2028, precisely when both McDavid and Matthews are scheduled to become unrestricted free agents.
McDavid signed an eight-year, $100 million contract with the Edmonton Oilers in July 2017 carrying a $12.5 million cap hit. He then signed a two-year, $25 million extension in October 2025, maintaining the same $12.5 million annual cap hit through 2027-28.
Matthews, meanwhile, signed a four-year $53 million deal with the Toronto Maple Leafs in August 2023 with a $13.25 million cap hit and $49.65 million in signing bonuses. Like McDavid, his contract expires after the 2027-28 season making him an unrestricted free agent at age 30.
While it’s pure speculation at this point and both players could very well re-sign with their current teams, the Kings would probably wish to position themselves for a potential run at either superstar.
LA Kings initially speculated $45 million deal for Artemi Panarin
The Kings’ final two-year, $22 million extension with Artemi Panarin reportedly came after more substantial talks fell apart earlier in the week.
According to NHL insider Elliotte Friedman, the Kings and Panarin’s camp initially discussed a deal worth approximately $45 million before Los Angeles pulled back. Friedman speculated the structure was likely a five-year deal at a $9 million annual average value.
“The deal concluded two crazy weeks. Tuesday, talks with the Kings fell apart when the team got squeamish over a $45-million extension,” Friedman shared.
The Kings weren’t willing to commit that much money or term to a player in his mid-thirties which led to a chaotic 48-hour period where Panarin’s agent Paul Theofanous reportedly contacted multiple teams to create a bidding war.
The Seattle Kraken reportedly offered a four-year extension with an annual value exceeding Leon Draisaitl’s $14 million, while Carolina, Washington and Utah also expressed interest. But Panarin ultimately told the Rangers he would only accept a trade to Los Angeles, forcing the Kings to re-engage and the deal went through.
Edited by Anjum Rajonno
