The Artemi Panarin trade saga has taken an interesting twist. For weeks now, the entire saga has held New York Rangers management and fans captive. The decision was not to extend the Russian superstar kick negotiations into high gear.
Those negotiations have taken an interesting twist. According to Rangers insider Vincent Mercogliano, Panarin trade negotiations have gotten stuck with the player’s preferred destination: The Florida Panthers.
In a February 3 piece, Mercogliano stated that Panarin wants to go to the Panthers. However, that is much easier said than done. The reason is simple. While the Panthers could make a trade offer for the Rangers, they can’t afford to keep Panarin beyond this season.
That’s a huge hitch in the entire works since the entire Panarin trade situation hinges on an extension. Panarin reportedly wants $50 million spread over four or five years. He’s not backing down and won’t take any shortcuts in getting paid.
While the Panthers would love to add Panarin, they can’t commit to that sort of extension. The Panthers will need to deal with Sergei Bobrovsky this summer. That’s why adding Panarin and Bobrovsky, at retail prices, simply doesn’t make the math work.
As such, the Panarin trade will likely go past the Olympic roster freeze set for Wednesday afternoon. Unless there’s a late-night stunner on Tuesday, the likelihood is that the Rangers and Panarin’s camp will spend their Olympic break hammering out details.
Why Florida Makes Sense in Panarin Trade
The Florida Panthers make the most sense for Artemi Panarin. He’s 34 and hasn’t won a Stanley Cup. That’s something high on the star’s mind. The back-to-back champs offer the best chance to win a Cup, even if they are currently out of a postseason slot.
The willingness is there to add Panarin on the Panthers’ part, especially since Rangers GM Chris Drury doesn’t have much leverage in a Panarin trade.
That said, the Cats do make a compelling case for Panarin. The lack of a state income tax makes it far more attractive for him to sign there than, say, California-based teams or Canadian clubs, which have much higher taxes.
Could Panarin Give Panthers Discount Due to Tax Implications?
So, there’s a gorilla in the room no one really seems to have noticed until now. A Panarin trade could work out for the two Florida-based teams (Panthers and Tampa Bay Lightning) due to advantageous tax implications.
That situation could lead Panarin to consider a discounted deal in nominal terms, as the tax burden on his salary would be much lower.
As such, Panarin might be willing to sign for something like $40 to $45 million over four or five seasons, since he’d be saving a significant chunk of tax payments.
Perhaps Panarin’s camp might see such a discount as money left on the table. But it wouldn’t preclude a Panarin trade from going through, even at lower number on the extension.
If Panarin does agree to go to a Florida-based team, it would be a slap in the face to just about every other team in the NHL.
Panarin Trade: Insider Reveals Interesting Twist in Ongoing Deal