Report: Panarin turned down offer worth over $56M from Kraken

Artemi Panarin turned down a four-year contract offer with a cap hit higher than $14 million from the Seattle Kraken before accepting a trade to the Los Angeles Kings, reports Sportsnet's Elliotte Friedman.

Seattle offered Panarin a four-year extension "with an AAV higher than Leon Draisaitl's," sources told Friedman. The average annual value of the Edmonton Oilers star's contract is $14 million.

Panarin inked a two-year, $22-million extension with the Kings on Wednesday. The New York Rangers dealt him for prospect Liam Greentree and a pair of conditional draft picks.

The 34-year-old owns a full no-movement clause. Panarin told the Rangers he would only go to Los Angeles on Wednesday, reports Friedman.

"We had discussions with (Panarin's agent) Paul Theofanous ... just like numerous other teams," Kraken general manager Jason Botterill told Friedman on Thursday. "We will continue to be aggressive at improving our team. But we won't comment on discussions with agents/players."

The Kraken beat Los Angeles 4-2 on Wednesday in their final game before the Olympic break. Seattle is third in the Pacific Division, three points ahead of the Kings.

Panarin has 19 goals and 57 points in 52 games this season. The Kraken's leading scorer is Jordan Eberle, who has 20 goals and 38 points in 54 contests.