Without knowing term/clauses, I can't fully get behind signing Panarin.
That being said, all of these arguments saying that we won't be in contention for "years" just don't make sense to me. Did anyone see the Islanders being a hundred point team this year? Arizona vying for the playoffs despite a soul crushing amount of man games lost and a dearth of talent? Boston with the 2nd most points in the league? Carolina? St. Louis coming back from the hole they were in?
No one has ANY idea what this roster will be this October or the October after that. More and more I like the idea of signing Panarin (and losing nothing other than cap space) and trading Kreider for a 1st, prospect, +. You get a better player and assets back. If nothing else, this coach gets the team to play hard and I don't think the Rangers will ever be the 31st team in the league in the standings.
EK, though, is a whole other story. I'm not certain he'll be healthy enough throughout whatever monster deal he gets.