NHL Trade Deadline Winners and Losers

Reviewing all that took place and giving some Winners and Losers of the NHL Trade Deadline

It was one of the more hectic NHL Trade Deadlines of recent memory… With 45 trades and just shy of $170,000,000 in cap hits being traded on deadline week according to PuckPedia. Coming out of it, it feels like the Atlantic and Central divisions had the biggest shakeups. Let’s review it all.

Atlantic Division:

Winner: Tampa Bay Lightning

The Tampa Bay Lightning made one move this trade deadline but it was enough to propel them into the winners category. Acquiring Bjkorstrand and Gourde from the Seattle Kraken is exactly what this team needed to put themselves back into the contenders tier in the Eastern Conference. Yes, they paid an extremely heavy price with two first round picks, a second round pick, and Eyssimont going back to Seattle, as well as a 4th round pick going to Detroit for salary retention on Gourde. However, this is one of the few teams that should not be worried about their picks for any upcoming drafts.

The time to win is right now. The stars of the team have all been playing amazing. Most notably, Andrei Vasilevskiy has returned to Vezina caliber form after recovering from injuries. Along with Hedman, Kucherov, Point, Guentzel, and Cirreli all leading the way, this team has the star power. However, what they were critically lacking was any kind of depth, especially up front. The addition of Bjkorstrand and Gourde gives them 3 legitimate lines to roll out against anyone in the playoffs, which will be much needed in this Atlantic division.

Winner: Florida Panthers

Up until 3pm on the dot of the deadline, I was going to have the Panthers in the “Neither” or even “Loser” tier of this deadline. The addition of Seth Jones was fine. I think he is a clear Aaron Ekblad replacement and getting both of them for 1 playoff run is huge. They had a good enough team to win it all as is when healthy, so I wasn’t too worried about a lack of moves.

However, right at the deadline, the Panthers sneak in a trade for pending UFA Brad Marchand, much to everyone’s surprise. Marchand sounds like he will be out for a few weeks yet, so that really cut the cost of the return down. They gave up a 2nd round pick that becomes a 1st if the Panthers make the Conference Finals and Marchand plays in 50% of the games. Basically, injury protection.

I love this for Florida. Marchand, Tkachuk, and Bennett all on the same team, possibly all on the same line is nightmare fuel for other teams. And assuming this team can be healthy come round one of the playoffs, I find it hard to see how they are not the favourites to win it all again this season.

(Slight) Loser: Toronto Maple Leafs

Another team I was going to have firmly in the loser tier at 3pm until news broke that they had acquired Brandon Carlo from the Boston Bruins… I still have them as a slight loser on this deadline, because I question how much better they actually got. Yes, Scott Laughton and Carlo do make the team better, but how much better? Depth scoring has been a critical issue for this team in the last 3-4 playoff runs, and I don’t think either of these moves helps that issue.

They gave up a lot to get both of these players, and I am not sure I can say they improved as much as either of Tampa or Florida, both of whom they are likely to face (certainly one of them) if they are to make a deep playoff run. I don’t hate the moves near as much as I thought I might. But I think they are lacking a bit compared to their division rivals.

Both of the players acquired do have some term left, which is good to avoid the high cost for a pure rental. I don’t think the Leafs should be angry about this deadline, but you have to wonder if there was more that could have been done at the cost of the assets acquired.

Winner: Boston Bruins

The Boston Bruins realizing they are past their cup window and committing to selling is a huge win for the team. With Marchand’s injury, this clearly just has not been their year. Instead of trying to cling onto hope of making the 2nd wildcard and likely being dismantled in round one, the team took a very smart approach and sold off valuable pieces.

No doubt they will be looking at the Washington Capitals model of a retool and hoping to be competitive again next season. It is not out of the question, but some more savvy moves will be needed. Moving Carlo, Marchand, Coyle, and Frederic for valuable assets is a great start. Yes, the Marchand return was shockingly low. But that seems to be because of the injury.

Regardless, they got a 1st. three 2nds, two 4ths, and a 6th to supplement a much-needed draft overhaul. As well as some intriguing names in Fraser Minten and Casey Mittelstadt who should be helpful middle-six players in the coming years. As well as some other prospects. On a down year, this was as good of a time as any to take advantage of a clear sellers market and see if they can’t retool, much like they did in 2015 which opened up another cup window for the team.

Neither: Detroit Red Wings

I am not totally sure what the Red Wings vision is here. They are right in the wild card hunt, and while it is more than fair to suggest they may not be the favourites for the spot, I am not sure what the long-term vision for this team is. They picked up Mrazek and Craig Smith for Joseph Veleno, and helped retain salary on the Gourde deal. Mrazek is a fine option in net but also makes 4.25 for next year. Smith is a better offensive player than Veleno but is much worse defensively.

I am fine with them accepting they didn’t need to make a big move. But I wonder what the end goal is for this roster? They have 4-5 good young players who are under 23 but the rest of their roster is largely made up of guys over 29/30. If they can’t make the playoffs this year, when is the plan to truly starting to compete?

TBD: Montreal Canadiens

Honestly, one I do understand, but much like Detroit, I question what the long-term plan is. Not moving UFAs in Joel Armia and David Savard is understandable from the viewpoint of you are only 2 points back of a playoff spot and that may send the wrong message to the team. But this team feels the least likely out of the group of 5 to truly grab a spot with how streaky they are.

There is a chance in 2 weeks time the Habs are closer to 6 points out of a spot and people are wondering why they did not capitalize on a very lucrative market for someone such as Savard. Alternatively, if they do make the playoffs and get some of the younger core experience people will have no issues with it.

TBD: Ottawa Senators

I plan on doing a longer article about the Josh Norris trade, as there is way too much to breakdown in this article. I do however like the identity change the Sens tried to make this deadline, which is bringing in more 5v5 scoring. Norris going out has many pros and cons, one of my bigger worries is their finishing talent. But it was clear this core was a little too inconsistent to keep throwing it at the wall and hoping things stick.

I was initially critical of the Zetterlund pickup as he doesn’t drive play, but his scoring ability is strong enough I think that is exactly what Ottawa needs for their left side. He’s a cost controlled asset as well and it will be interesting to see how he fits. More to come on this, but this was certainly a giant deadline shakeup for the Senators. I understand why they did it, but if they miss the playoffs there is no doubt shaking up the core may be an immediate point as to why they missed.

TBD: Buffalo Sabres

Much like above, the Norris trade requires it’s own article. I also understand why Buffalo did this move. Norris provides the high-ceiling goal scoring this team lacks still. Tage Thompson is great at it and they have some other interesting pieces too, but this team just lacks talent generally speaking. With that being said, I think Norris’s injury history does leave some serious risk for Buffalo. He is also older than Cozens and it is very likely we know what Norris is as an NHL player.

The more puzzling part of the deadline to me for Buffalo is re-signing Jason Zucker. Yes, it is great to have people who want to commit to an organization that is very clearly still rebuilding. However, with prices as crazy as they have been, deciding not to sell on a 33-year old who is on pace for a career year is an interesting choice. As mentioned above, this team needs more elite talent, and trading away Zucker for high picks may have been a chance to swing at said talent. Not the end of the world, but for a team in dead last of the Conference a bit puzzling.

Metropolitan Division:

Winner: Pittsburgh Peguins

The Pittsburgh Penguins made multiple very smart deals at this deadline. They took advantage of the sellers market and now have a whopping 12 picks in this draft, 6 of them in the first three rounds. As well as another 6 in the first three rounds for next year already.

When they originally acquired Tommy Novak and Luke Schenn for Michael Bunting and a 4th rounder, I was incredibly skeptical of what was happening. However, they immediately flipped Schenn for a 2nd and a 4th and should be very happy with the outcome of those transactions. Getting a 2nd for Beauvillier is one of the steals of the deadline to me. Rakell not being moved was a little surprising to some, but he also has four years of term left. The offers may just not have been there.

Loser: Washington Capitals

On the opposite side of the Beauvillier trade, the Washington Capitals gave up a 2nd for a depth piece. This was an overpay, but the bigger issue I had with this deadline was that they didn’t commit to really improving the team. Granted, they did a lot of the heavy lifting in the offseason. But with the Devils and Hurricanes having interesting deadlines themselves, and the Rangers being a disaster this year, I think the Caps missed a good chance to really take advantage of a weak Metro.

Winner: Philadelphia Flyers

When reports came out they didn’t feel they needed to move Scott Laughton, I was a little worried. However, that may have been Briere playing the media game as they did end up moving him for a 1st rounder which is great value. The Leafs got some value back by getting a 4th and a 6th but overall it is a net win for Philly. Getting a 3rd for Kuzmenko was also a tidy piece of work. Good job for Philly to stay the course here.

(Slight) Loser: Carolina Hurricanes

People hated the Hurricanes deadline because they lost out on Rantanen in the end. This probably also deserves its own article, but I think people are being a little too harsh on the Hurricanes. Yes, the Rantanen saga was interesting, but acting as if Stankoven, two 1sts and two 3rds is poor value when you gave up Necas, Drury, a 2nd and a 4th is weird to me.

My biggest criticism for the Hurricanes is they essentially became sellers at this deadline in a year where, as mentioned above, the Metro is wide open. The Devils and Rangers both have their own issues, and the Capitals are a very good team, but are not a juggernaut by any means. I think the Rantanen swing was fine, and they may be better suited in the long-run, but it is a tough look this deadline.

I would have much rathered see them take one of those Dallas picks and convince the Canucks to move off of Brock Boeser, or a name like that around the league. Instead, their GM had a quote about the Rantanen stuff taking too long and that meant they couldn’t do much else, which is inexcusable to me.

Winner: New York Islanders

I thought it was a real chance Lou kept Brock Nelson and decided to run it back yet again with this ageing and mediocre team. Instead, he only kept Palmieri. Which is a little confusing, but not the end of the world. The Nelson deal is a win, even if Callum Ritchie isn’t quite as good of a prospect as people say. Getting a prospect whose floor seems to be NHL player, along with a 1st and 3rd is a very good outcome for your expiring 33-year old player.

Loser: New Jersey Devils

Honestly, I just don’t get what this team is doing right now. They announced the week of the deadline that Jack Hughes is done for the season with a shoulder injury, and they announce immediately after the deadline Dougie Hamilton is out for a while (which may be more than the regular season). With that in mind, they decided not to go all in, but also not to stay all out of it.

They retained salary on the Trent Frederick deal, which is fine. But then they are giving up a 2nd for Dumoulin and picks for Cody Glass. Their issue was scoring replacements and they didn’t address that at all. Feels like a weird half in and half out deadline here.

(Slight) Winner: New York Rangers

Another team I honestly do not know what to make of. I think they depend on if you are just looking at the Deadline week, or the last few weeks as a whole. If you can forget the fact they spent a 1st round pick and Chytil to bring in JT Miller (who has been very good for them) in early February, then I think their deadline is a win.

However, they seem to be half in and half out right now as well. I am classifying them as a slight winner, because I think moving off of Ryan Lindgren was really smart, especially when you see the assets they got for him. The Reilly Smith move was good too but then they turn around and give a 3rd for Soucy. Again, fine in a vacuum, but it seems like they want to just be good enough to make the 2nd wildcard spot, and I don’t know if that’s a great long-term strategy.

Neither: Columbus Blue Jackets

Listen, I don’t think their deadline was unforgiveable at all. But I actually dislike it for the OPPOSITE reason as the Canadiens. This team should have tried to go a little more in for a legit player. With everything the team and fanbase went through this summer, to be in a playoff spot on deadline day is amazing. They have some really talent young players and people really like their pipleline, and had a ton of cap space. Adding Luke Kunin feels incredibly underwhelming, and I actually would have liked to see them get a little more creative.

Not the end of the world, but hopefully not doing more doesn’t cost them in the playoff hunt.

Pacific Division:

Winner: Seattle Kraken

I applauded the Lightning for getting legit players to help push them over the edge, especially because they shouldn’t care about picks. However, the Kraken admitting they need to rebuild or retool is also a win. They got a great haul for two players that weren’t pushing them anywhere soon, and will no doubt have some more tough calls to make in the offseason. Getting the two 1sts and a 2nd from Tampa, as well as another 2nd for Tanev was some tidy work to start though. Some much-needed assets that will help give options down the line.

Loser: Edmonton Oilers

I just think they gave up too much at this deadline. Frederic is a decent piece, and I like Walman enough. But Walman had a 2nd round pick attached just to move him in the summer. They gave up a 1st, 2nd, and 4th for 3 players, and I am just not sure how much it will move the needle for them.

They still feel like the 2nd best team in their division, and maybe 5th best in the Conference? At the end of the day, McDavid and Draisaitl will determine a large amount of their fate. I am just not sold they gave up appropriate value for the returns here so I am going to put them in the losing side for now.

Winner: San Jose Sharks

Maybe the true winner of the deadline to me. Especially if you include the Grandlund/Ceci deal from February, they got a two 1sts, a 2nd, and three 4ths at this deadline. And the Walman deal is maybe one of the best reclamation projects I can remember seeing. Getting a 2nd round pick this summer to take his contract and then put him in a position too succeed so much that a cup contender offers a 1st is incredible work. Usually, cap dumps that aggressively seem to lose value permanently.

Granted, they did give up a couple of picks in the process but this is overall a net win. This should give them plenty of ammo to continue to build around Celebrini and co, who are starting to look like an exciting young core.

Loser: Vancouver Canucks

This year has been a disaster for the Canucks, and they still manage to find themselves right on the playoff bubble with a team that took the Oilers to 7 last year. With that being said, I am not sure I see the vision here. The team clearly is not winning anything this year, and while big decisions loom, it feels like they are half in and half out. They flip Miller and then take that 1st and acquire Marcus Pettersson last month.

Since then, things have barely gotten better but they decided to stay the course. They flipped Soucy for a pick, but then decided to keep other pending UFAs in Pius Suter and Boeser. Thatcher Demko’s entire future seems up in the air, and it is hard to see them doing anything if they make it into playoffs. I think the better long-term play would have been to sell Boeser for a haul (which they would have gotten) and re-evaluate come the summer. Instead, they seem to be shooting for 2 home playoff gates.

Neither: Los Angeles Kings

I have the Kings in neither here because I just don’t think they did enough. They are in a very tough spot to be sure, because it looks like they are about to run into the Edmonton Oilers yet AGAIN this year. In which case, I am not sure there is any move they could have made that would have made me feel more confident.

But they have a very strong team, and at some point you have to ask when the time runs out for this mini retool to start taking a step back, because another exit to the hands of McDavid and co would feel like a disaster. Kuzmenko is a fine piece, I am just left wondering what the long-term vision is.

Neither: Vegas Golden Knights

Maybe the quietest deadline ever for this team? There was no splashy or big moves, but that is because they literally could not do much. Getting Smith for a 3rd is fine, and they have a really good team as is. Not much to say here because I am not sure what else could have been done.

Neither: Anaheim Ducks

Much like Vegas, I am not sure what else could have been done here. Most their current UFAs are hurt, and the only thing taking this from N/A to Slight Win is the Dumoulin trade. Moving Zegras and Gibson are things they should explore, but both feel like moves for the summer.

N/A: Calgary Flames

One of the only teams to do nothing, and one of the only teams I really don’t have notes on. Once again, most their pending UFAs are hurt, so there was not an obvious sell opportunity. And I think the surprise playoff bubble is an easy enough reason to stay they course and re-evaluate come summertime. They only way they would slip to “Loser” tier is if a report came out they turned down a massive deal for a Kadri type. But that does not seem to be the case.

Central Division:

Winner: Dallas Stars

They got the best player moved this season. Maybe the best player moved in quite a few seasons, and unlike Carolina, they got him signed to an extension. I think the price was high, but that is quite fine for this team who is in win-now mode. I am very worried about the right side of their defence though, which currently has Matt Dumba, Cody Ceci, and Ilya Lybushkin. I think this might be the one thing that could undo them come playoff time. But they have so much forward depth it may not even matter. Hard to say when a Top 10 winger is acquired and extended you are anything but a winner.

(Slight) Loser: Colorado Avalanche

Colorado feels very similar to the Toronto Maple Leafs for me. Yes, they did get better. But how much better? And was it worth the chest of assets they gave up? The Brock Nelson deal was a very typical deadline deal for an all-in team. I didn’t love it, but I do understand it. The Charlie Coyle deal I am not quite sold on. Mittelstadt was not the fit they had hoped for, but they just got significantly older while giving up a 2nd for a player that I am not sure is great anymore either. Coyle’s numbers declined this year and at 33, it is possible they may not bounce back.

We then get to the Lindgren deal which again, seems like way too much value for a guy who had some of the worst underlying numbers in the league. Yes, it may help that he no longer needs to play top pair minutes, but it just feels like an aggressive overpay for someone who will not move the needle.

The biggest reason I am putting a slight in front of the “loser” tier here is because if you include the Necas for Rantanen swap, I still see the value in that both now and long-term.

Winner: Nashville Predators

A true disaster of a year for the Nashville Predators. They went all-in this summer, bringing in the likes of Steven Stamkos, Brady Skjei, and Jonathan Marchessault, and it is went horrendously from day one. This deadline they did about what you would expect, sold off some pieces which will lead to bigger decisions in the future.

No ground-breaking moves here, but getting a 2nd, 4th, and 5th along with Bunting who may be a piece they move down the line seems like good stuff. Part of me wonders if other GMs would have wanted to try and stay the course even with how this season has been. This summer will be the big decision time for Nashville and where they go next.

Loser: Winnipeg Jets

Another team in the Leafs/Avalanche bracket, it feels like they gave up some pretty decent assets for players who won’t move the needle much. Luke Schenn and Brandon Tanev are both serviceable third pair / 4th line guys, but the price of two 2nds and a 4th for those two seems heavy. Even heavy for the trade deadline.

The Jets clearly like their team and didn’t feel they needed to add too much, which is fine. But the opportunity cost here feels a little questionable. Part of me wonders if they should have packaged the assets they did use and look for someone who might be able to solidify the 2nd line a little more, especially in case an injury is to occur.

(Slight) Loser: Chicago Blackhawks

The big move here was clearly moving off of Seth Jones. A 1st and Spencer Knight is more than I was expecting they would receive for such a lengthy contract. But when you factor in they now have 2.5 million on the books for five more seasons just for Jones not to play for them, it makes sense why the price became higher. I think Knight is an underrated addition. At 23, he is the exact type of player I would target for Chicago.

But that was basically their only move of note. They moved off of Mrazek for Veleno, who likely won’t make a huge impact for them. And then in the funniest deal of the entire deadline, they now have Shea Weber’s contract (likely for LTIR usage). The biggest criticism from me is they kept Ryan Donato. A 28-year old who is shooting almost double his career shooting percentage is the exact type of player a rebuilding team should move off of at the deadline. Instead, they decided to keep him, and now get to decide if they should pay him this summer.

They do have lots of draft capital already, with two 1st, 2nds, 4ths and a 3rd this year, and two 1sts and three 2nds next year, but I don’t see Donato moving the needle for them in any way.

Neither: Minnesota Wild

The Wild picked up Nyquist and Brazeau at the deadline. Both were fine enough moves, but this team feels very clearly like the 4th best team in their division. I don’t think there was a move big enough that would have changed that, outside of mortgaging the future for Rantanen type which likely would have been for one year only and thus didn’t make sense.

I’m curious to see what the Wild long-term plan is, because it truly feels like they are back in the “6th - 9th best team in the West” circle of mediocrity they have been in for so much of the 2000’s.

N/A: Utah Hockey Club

Utah did nothing trade-wise except move off of the Weber contract. They did decide to re-sign Cole and Maatta. There is an argument they should have dealt both those players, so if you want to add them to the “Slight Loser” tier that is fine. But I do think trying to make the playoffs in year one in the new city is a fine decision. Especially when you’re not mortgaging the assets you have to do it.

With a ton of cap space, they should really be looking to make a big splash, but leave that until the summer.

N/A: St Louis Blues

Another team that did literally nothing this deadline and that seems fine. Radek Faksa and Ryan Suter are their only two UFAs. Maybe they should have looked to sell them, but Suter likely had no market and Faksa was probably a mid-round pick at best. Some people wondered if Jordan Binnington would get moved. That may have been a good idea to try, as his value will likely never be higher than coming off of the Four Nations Faceoff. However, we almost never see goalies get moved for the assets they feel worthy of.

And that is ALL 32 teams. What do you agree with? Disagree with? Let me know here, or on X or BSky, links in the description.