Real Kyper’s Trade Board 2.0: Rebuilding the Vancouver Canucks

Wow, that escalated quickly.

The Vancouver Canucks started the year hopeful for a playoff run, then struggles on the ice led to them trading away superstar Quinn Hughes. Even after the Hughes trade, the front office talked about turning things around within a couple of seasons. Now, on the heels of an eight-game losing streak, the dynamic has changed again. Frame it however you want, the Canucks are in the midst of a rebuild.

“I would suggest that we listen to teams when they call — about anybody,” Jim Rutherford told Sportsnet’s Iain MacIntyre last weekend.

If you’re not in your very early-20s, you’re going to have to put up with a lot of trade talk and rumours.

Pending free agents such as Kiefer Sherwood, Evander Kane and Teddy Blueger are all highly likely to be on new teams by the March 6 trade deadline.

But this change in direction also puts Elias Pettersson very much in the trade wheelhouse and he’s featured on my latest trade board.

Vancouver’s first objective is to get their players going again, and while that starts with Pettersson, they have waited too long for him to show another side or another gear in his game. While the Maple Leafs are getting a turnaround from Auston Matthews, who is helping correct Toronto’s course, the same is not happening for Pettersson and the Canucks. The challenge for Vancouver, however, will be finding a trade partner willing to take on all, or most of, his cap hit and be willing to swap a centre in return.

At the end of the day, this is a full rebuild. Unless someone says they’re building around Pettersson, or Pettersson says he wants to be here for the turnaround, he will be on my list.

As far as Canucks players with term left on their contract, the possibilities for trade go deeper than just Pettersson.

Jake DeBrusk was made a healthy scratch on Dec. 29 and word is that did not sit well with his camp and it made rival teams aware that there might be some issues here. When DeBrusk signed as a free agent with Vancouver in 2024 he had as many as 14 teams after him with four-to-six year contract offers and teams are making calls on him now. There’s blood in the water and sharks are circling this team.

Both Pettersson and DeBrusk would have to waive their no-movement clauses to make any deal happen, which would indicate that what’s going on in Vancouver is not what they feel they signed up for.

When the NHL takes a break for the Olympics on Feb. 5, a trade freeze will commence. By the time the freeze lifts and teams return, we’ll be less than two weeks out from the trade deadline, so there is some belief we could have action before the Olympics. That could include the Canucks, who may trade several players. They aren’t the only ones, though, as there are many other teams looking to make waves.

That brings me to the latest trade board, and what I’m hearing around the league…

Elias Pettersson, C, Vancouver Canucks: 13 G | 15 A | 28 PTS | 38 GP

Vancouver’s best interest is to prop up Pettersson a bit more, but the player also needs to play better for the Canucks to maximize their return in a possible trade. Despite his struggles, the 27-year-old centre is still an attractive asset to some teams out there and we’d put Carolina at the top of the list. Teams that have stockpiled assets for the past few years and are looking for a centre in his prime age range are the most likely partners in a Pettersson trade. Detroit would be another one, and Los Angeles needs to replace Anze Kopitar, who is on his way to retirement.

The issue for Vancouver is that they also need a centre back in return. Besides top prospects and first-round picks, they need something to hold the front line. When it comes to Carolina, for example, could Jesperi Kotkaniemi be a seat-holder until Vancouver is able to draft and develop another centre?

Jake DeBrusk, LW, Vancouver Canucks: 12 G | 10 A | 22 PTS | 45 GP

DeBrusk is just in the second season of a seven-year contract, but represents another one of the tenured players on this team the front office could move. DeBrusk scored 28 goals just a season ago, he has 86 career playoff games under his belt and he’s proven he can play on a deep team anywhere from the first line to the third. A $5.5 million cap hit isn’t much for a team looking for some secondary scoring punch and the cap will continue to rise over the remaining years of his contract so there aren’t many teams scared of adding him.

Kiefer Sherwood, RW, Vancouver Canucks: 17 G | 6 A | 23 PTS | 44 GP

When the Canucks acknowledged they were taking calls on veteran players in the final year of their contracts, Sherwood immediately came to mind. Vancouver’s goal scoring leader with 17 in 44 games, Sherwood also plays a physical style of game, which combines for an intriguing set of skills that are even more valued come playoff time. Potentially complicating things now is that Sherwood is injured and Canucks coach Adam Foote estimated it could be “a week to three weeks” adding that “it doesn’t look promising.” That at least puts into question if Sherwood might get traded before the Olympic roster freeze, but as long as he returns before March 6, Sherwood is still more likely than not to be on the move.

Dougie Hamilton, D, New Jersey Devils: 5 G | 7 A | 12 PTS | 41 GP

A celebrated, top-of-class free agent signing in July of 2021, the sense is Hamilton’s time in New Jersey is running out after he was made a healthy scratch on Sunday (he returned to the lineup Monday). Hamilton, now 32, has some trade protection, but it’s believed he is willing to waive to go to some teams that were on his no-trade list.

I’m not sure Hamilton has the same cache as Seth Jones did last season and it will be very tricky to move him with two more years of a $9 million cap hit coming with him. Would the Devils retain any money? If not, there is another interesting possibility. Hamilton is due a $7.4 million signing bonus on July 1, so what if he went to a team with the understanding that the bonus would be honoured and then the rest of the contract gets terminated (if another trade partner is not found in the summer)? This would open up the market a bit more for Hamilton. After the signing bonus is paid, Hamilton would be owed $6.25 million in actual dollars over the last two years on his deal, and it’s possible he could recoup all that and perhaps even make more if he rejoined the free agent market. This possibility was recently explored on PuckPedia.

Artemi Panarin, LW, New York Rangers: 16 G | 34 A | 50 PTS | 46 GP

As the Rangers sag in the standings, the front office will have to consider every option and Saturday’s 10-2 loss to Boston won’t slow down any speculation. Although 33-year-old Panarin leads the team with 50 points in 46 games, his minus-13 is the worst plus/minus of any scorer within the NHL’s top 25. It’s believed the Rangers are not willing to meet Panarin’s price on an extension, so since his contract expires this summer the Russian may be one of the most sought-after rentals. And while Panarin is in full control of his destination with a no-movement clause, he would be wise to consider waiving it to join a contender, be put in a position to succeed in the playoffs, and rebuild his stock ahead of free agency to maximize earnings on his next deal.

Jason Robertson, LW, Dallas Stars: 27 G | 28 A | 55 PTS | 47 GP

If Robertson holds strong on his asking price and wants more on a new contract with Dallas than Mikko Rantanen’s $12 million, then the Stars may eventually explore trading their top goal scorer, but they’d need a big scoring replacement. Already missing Tyler Seguin, a Robertson trade would require a significant player in return. He’s not going to go for picks and prospects.

There is time for this to play out. Robertson will be an RFA this summer, but unless he signs a multi-year deal he would be on track for unrestricted free agency in 2027. Because of this setup, and since Dallas is chasing a Stanley Cup, a Robertson deal may get pushed into the summer. But if there is a trade out there that Dallas thinks will improve the roster right now, an in-season move can’t be ruled out.

Anthony Stolarz, G, Toronto Maple Leafs: 6-5-1 | 3.51 GAA | .884 SV%

While he hasn’t played since Nov. 11, there is growing belief that Stolarz could return to the Leafs’ lineup before the Olympic break next month. How impactful can he be then? Stolarz played 34 games for Toronto last season, posted a 2.14 goals-against average and .926 save percentage to form one of the top tandems with Joseph Woll. In 2025-26, however, Stolarz came out with a 3.51 GAA and .884 SV%. Stolarz, 31, makes $2.5 million against the salary cap this season and has already signed a four-year extension with a $3.75 million AAV that doesn’t kick in until 2026-27. If he can return before the March 6 trade deadline and put together a few strong performances, the Leafs may explore trading him to a goalie-needy team.

Stolarz does have partial trade protection, so Toronto’s options could be somewhat limited. In a perfect world, they’d like to keep the depth they have in net, but they’re not in position to do that and “win now” so hard decisions have to be made. The Leafs need to find another defenceman, or a quality scorer up front, and since they’re thin on picks and prospects the front office might have to get creative. Beggars can’t be choosers. Stolarz is an asset, but he has to show he can return to form and stay healthy.

Alex Tuch, RW, Buffalo Sabres: 15 G | 22 A | 37 PTS | 43 GP

We’ll keep Tuch on the trade board for now because a one- or two-week slide could change Buffalo’s outlook again, but for now a recent run of success has the Sabres back in a playoff spot and more in a position to buy than sell. At the same time, there is renewed belief that GM Jarmo Kekalainen could be willing to meet Tuch’s contract demands of around $10 million.

Evgeni Malkin, C, Pittsburgh Penguins: 10 G | 22 A | 32 PTS | 30 GP

His return to the lineup last week came with a goal for himself and a win for the team, though the three losses that followed (two in regulation) has Pittsburgh on the outside looking in again. It’s a tight race in the Eastern Conference, and the closer the Penguins are to the wild card (or a top-three spot in the Metro), the harder it will be to move on from Malkin and thus give up on one more post-season run with him and Sidney Crosby. If there is an opportunity to move Malkin, however, Pittsburgh’s front office would take it as the 39-year-old is in the final year of his contract and this organization knows it needs to pivot to younger players. However the team performs, Malkin will have final say on how this situation plays out since he has a no-movement clause. 

Brayden Schenn, C, St. Louis Blues: 9 G | 10 A | 19 PTS | 47 GP

Five points out of the playoffs, it’s going to get harder for the Blues to pull themselves back in this time and, though we’ve heard these rumblings before, 2026 might go down as the year Doug Armstrong finally did make big moves involving his core. This will be Armstrong’s final deadline as GM before handing off the reins to Alexander Steen, and while Armstrong won’t want to leave this team in a worse spot for his successor, he may strive to leave behind a different team than a core that has won a single playoff series in five years. Schenn was a hot trade topic at last year’s deadline and will be so again this year. He has two years left paying $6.5 million against the cap and has a 15-team no-trade list. It’s believed Brayden and brother Luke Schenn are communicating that they’d like to play together, so it’s possible there’s an organized effort to get them both at the same time. Luke is in the final year of a deal paying $2.75 million against the cap as a member of the Winnipeg Jets.

Jordan Kyrou, RW, St. Louis Blues: 8 G | 11 A | 19 PTS | 37 GP

It has been a tough season for Kyrou, who has just 19 points in 37 games and missed time in December with an injury. He has another five years left on a contract paying $8.125 million against the cap and a no-trade clause. However, as I wrote just last week, there’s a growing sense that Kyrou may be amenable to waiving his NTC this season to get a new start if it’s with a contending playoff team. 

Jordan Binnington, G, St. Louis Blues: 8-12-6 | 3.53 GAA | .871 SV%

This is a name I’ve heard and written about in trade talk going back to last season and we can’t ignore these rumblings again in 2026, especially as Joel Hofer posts better numbers and is tracking towards a career high in regular-season appearances. Binnington has been struggling all season and there has been little sign of improvement, but he is a Stanley Cup winner and proven big-game performer. There are goalie-needy teams out there that may be interested in taking a shot on Binnington, whose contract comes with a $6 million AAV, but only has one more season left on it. There’s not much of a market for Binnington right now, but he stays on the list as Armstrong sorts out how this will look.

Steven Stamkos, RW, Nashville Predators: 20 G | 11 A | 31 PTS | 46 GP

A 12-goal run in December seemed to be turning the season around for Stamkos, and teams will be watching how he follows up such a strong month. Goals in back-to-back games now are fuelling hope. Stamkos has a no-movement clause, but the sense is he’d be open to waiving that for another look at the playoffs. The bigger issue in trading Stamkos is the $8 million cap hit he comes with, which many teams will balk at and few would have room to fit in during the season. The Predators have already used two of their three salary retention slots and doing so for Stamkos would keep a portion of his cap on the books for another two seasons, which is not Nashville’s first choice. 

Jonathan Marchessault, RW, Nashville Predators: 7 G | 3 A | 10 PTS | 28 GP

He hasn’t played since Dec. 17 and there’s no signal yet that he’s returning soon, but Marchessault will remain on this list until the trade deadline or until he’s ruled out for well past March 6. Marchessault is similar to Stamkos in that they’re both 35-year-old scoring forwards who have struggled to find any momentum since signing UFA deals to join Nashville and there are teams willing to bet that a more competitive roster will bring out more production. If healthy, however, Marchessault might be the easier of the two to trade since his cap hit is just $5.5 million and more teams could absorb that without retention. Marchessault also has a no-movement clause to navigate and he has three more years left on his contract.

Ryan O’Reilly, C, Nashville Predators: 13 G | 26 A | 39 PTS | 46 GP

A valued centre — and a defensively responsible one at that — there are several playoff-bound teams that would love to add O’Reilly for two playoff runs. On paper he’s the easiest to trade given his $4.5 million AAV and lack of any trade protection. However, GM Barry Trotz has indicated that he will handle O’Reilly’s case as if he did have trade protection and would seek to work with the 34-year-old on any potential move. 

Vincent Trocheck, C, New York Rangers: 11 G | 16 A | 27 PTS | 33 GP

A 32-year-old and an American Olympian, Trocheck still has a lot to give over the life of his contract, which runs for another three years beyond this one. A two-way centre and member of the leadership group, Trocheck had strong comments after New York’s 10-2 loss to Boston, calling it “embarrassing” and saying the team needed a reset. That reset may come in the form of some trade considerations, which Trocheck himself may get caught up in. His trade value as a player may not rise much higher than it currently is, so the Rangers would be wise to work the phones on him now. Could a pre-Olympics trade be in the cards?

Blake Coleman, LW, Calgary Flames: 13 G | 8 A | 21 PTS | 44 GP

I wrote last week that Coleman was the Flames player drawing the most trade interest and that remains true. A two-time Stanley Cup winner, Coleman is versatile, a sneaky secondary goal scorer and he’s making just under $5 million. His contract runs through next season as well, so teams would get two playoff runs with the 34-year-old if they can get him at this year’s deadline. The Flames have to be real with where they are at as a team, and that Coleman is not likely to still be around when their new arena opens anyway. Jumping the market on him now would maximize the return.

Rasmus Andersson, D, Calgary Flames: 10 G | 19 A | 29 PTS | 46 GP

The most obvious trade candidate in Calgary is Andersson, who we’ve been expecting to move all season. While he and the team have teased the possibility of an extension, the reality is the 29-year-old is months away from being able to test the UFA market and that is certainly an opportunity he would explore to join a contending team. The Flames will be moving this player before the March 6 trade deadline and, in fact, it’s highly likely a deal will be found before Andersson leaves for the Olympics, where he will play for Team Sweden. The Flames cannot risk him being injured in that tournament and returning as a player they can no longer get assets back for.

Nazem Kadri, C, Calgary Flames: 8 G | 24 A | 32 PTS | 46 GP

The idea of trading for Kadri is a nice one. He’s still a top-six centre at 35 years old, leads the Flames in scoring, and the last time he played in the post-season Kadri was a key member of Colorado’s drive to a Stanley Cup win. However, the Flames aren’t in as much of a rush to trade him as they are for Andersson or Coleman because Kadri still has another three years left on his contract. A decision can be kicked down the road. At the same time, there are some teams that are cautious to trade for a player at Kadri’s age who also has so much term left on his deal and comes with a costly $7 million cap hit. Those factors have dulled Kadri’s market and the feelers the Flames have received on Kadri have been underwhelming so far.

Andrew Mangiapane, LW, Edmonton Oilers: 5 G | 6 A | 11 PTS | 42 GP

It’s just not worked for Mangiapane in Edmonton and as the Oilers look to improve their roster ahead of the trade deadline, they’d happily move off his $3.6 million cap hit and a contract that runs one more season. That may be easier said than done, especially given Mangiapane has a no-trade clause this season, but he may be open to waiving that for a better playing situation. Mangiapane has been a regular healthy scratch lately and played his first game in January on Monday night. 

Jesperi Kotkaniemi, C, Carolina Hurricanes: 2 G | 4 A | 6 PTS | 27 GP

Last week Elliotte Friedman wrote that the Hurricanes were listening to trade offers on centre Jesperi Kotkaniemi, the one-time offer sheet signee who these days has become a healthy scratch in Carolina’s lineup. Kotkaniemi has one point in his past 15 games and just six points in 27 games on the season. However, there is still some potential here. Kotkaniemi is only 25 years old, so he’s on the young side of his career, and he’s signed for another four years at a $4.82 million cap hit. That may be a lot for a struggling player, but a centre at his age might be an intriguing asset for a re-tooling team to take on. The Hurricanes are chasing a Stanley Cup, so this is not a situation where they will dump the player. They have to be getting someone, or something, back that will help them achieve their goals this season.

Boone Jenner, C, Columbus Blue Jackets: 8 G | 15 A | 23 PTS | 32 GP

Second-last in the Eastern Conference, six points out of a playoff spot, the Blue Jackets front office made its first big move to respond to the team’s performance on Monday by firing head coach Dean Evason and replacing him with Rick Bowness. If a new coach bump and wins don’t soon follow, player movement will be up next. Jenner, 32, is a beloved player in the organization, drafted and developed by the Blue Jackets and the current team captain. But he’s also in the final year of his contract, and as a physical, middle-of-the-lineup centre, he’s the type of player playoff teams would salivate over. It’s a big decision for the Blue Jackets to make, but if they don’t pull closer to the playoffs quickly, trading Jenner is a tough decision that’ll have to be made.