Let's assume that the Kings can find a budget team who will take Cal Petersen's contract with a 2nd round pick attached to it. After his signing bonus is paid on July 1st, his salary this upcoming season is only 1M in real dollars. After that, he only has 1 more year remaining.

That along with selling off one of their D at the draft puts the Kings in a position where they should have enough cap space to sign Lafreniere to a bridge deal, defend against any realistic offer sheets, and also bridge Vilardi.

Byfield has a year left on his ELC, which buys the Rangers some breathing room for the cap.

Most of all, neither player is excelling on their current team. Both players have sky high ceilings. Despite the fact that Lafreniere was seen as a tier above Byfield on draft day, Lafreniere becoming an RFA this off season proves problematic for the Rangers. He is a legitimate offer sheet candidate because of the dynamic of the situation where the Rangers cannot afford to pay him like a young top 6 forward, but he has the potential to where if a team gambles on him, he could meet or exceed that potential with a change of scenery. It's similar to the Kotkaniemi situation, except that Lafreniere's ceiling is much higher.

In a different trade, the Rangers might get a 1st round pick as a centre piece for Lafreniere. Something similar to the Dach trade, but someone has to want to give that up for him. This trade gives the Rangers a player who has similar upside to Lafreniere, and unlike a 1st round pick is ready to play right away.

As far as the Kings go, Lafreniere is the better player out of the two, and they both have similar ceilings.