In five short weeks the trade board has taken a dramatic turn.
The midway point of the schedule is typically when teams start to separate the pretenders and contenders. But that hasn’t been the case yet, particularly in the Eastern Conference. What’s setting this trade deadline season apart from some others is how many more teams are in a better position to make the playoffs now than they looked to be back at the American Thanksgiving mark.
We can thank the New York Rangers for that. Their 8-16-2 stretch that started right around American Thanksgiving opened the door for Ottawa, Detroit, Columbus and Montreal who all managed to rekindle and inspire their fanbases.
Potential trade sellers weeks ago suddenly look like potential buyers, and vice versa.
With New York already moving their captain Jacob Trouba to the Anaheim Ducks in early December, their spotlight has shifted straight to Mika Zibanejad, and interest in J.T. Miller. Meantime the Canucks, who finished first in the Pacific Division last regular season, are considering trading Miller, Elias Pettersson and pending UFA Brock Boeser.
The Canucks are locked in a playoff spot battle with, among others, the Calgary Flames and rookie sensation Dustin Wolf, who are stalling teams that are ready to advance trade discussions with them as well. Calgary’s involvement in the race helps us move Rasmus Andersson’s name off the board this month, but Nazem Kadri remains for now.
Same goes for the St. Louis Blues, who are also lurking in the race and obtained Cam Fowler in a December trade with the Ducks. They are not ready to consider selling.
At the same time, there is a block of pending UFA superstars on contending teams that we have to keep our eye on. Colorado’s Mikko Rantanen, Florida’s Sam Bennett and Toronto’s Mitch Marner are all still unsigned. While the Leafs won’t take calls on Marner, the phones won’t stop ringing on Rantanen and Bennett, so they’re on this month’s list.
Overall, it’s still very quiet when it comes to the front line of this summer’s UFA class.
In Carolina, we also have a new young stud to keep an eye on in Martin Necas. Team owner Tom Dundon may finally be ready to make a big splash by opening up his wallet, and it may cost him this gem to pull off.
So, as the trade market still takes shape, sit tight and enjoy the latest nuggets on what I’ve heard since we’ve welcomed in 2025.
And be sure to look out for the next updated version of my list just before the NHL shuts down for the 4 Nations Face-Off in February.
When Pettersson was a pending free agent last season his name was appearing in trade rumours as he still hadn’t signed an extension into February. That bit of pressure led to the Canucks and Pettersson coming to an agreement on an eight-year, $92.8 million contract in March, six days before the trade deadline.
The 2024-25 season is the first year of that deal, and the only one that doesn’t have a full no-movement clause attached to it, which has again kicked up trade speculation. When Canucks GM Patrik Allvin spoke to Sportsnet’s Iain MacIntyre last month he said he believed in Pettersson and that he was a No. 1 centre. He also didn’t slam the door on trade talk, saying “Is it (a trade) possible? I guess I would say anything is possible.”
The Canucks have been struggling to find consistency and are one point out of the West’s second wild card spot with the conference’s ninth-best points percentage. That, too, has opened the door to the possibility of some in-season roster turnover, with Jim Rutherford and his active trade history overlooking everything from the president of hockey operations chair.
If the Canucks make a massive and surprising move, Pettersson isn’t the only candidate who could be in the middle of it. Miller, the team’s other top-six centre, is also in the mix.
Five years older, $3.6 million cheaper, and with two fewer years left on his contract than Pettersson, Miller was Vancouver’s scoring leader last season, but has fallen off that 103-point pace. What complicates this move more than Pettersson’s is that Miller does have a full no-movement clause, and in complete control of his destiny.
While it may be easier to move either, or both, of Miller and Pettersson in the off-season, it’s not impossible something could happen before March 7. If it does, keep an eye on New Jersey for either player. They have assets and player pieces the Canucks could find attractive, and at the moment are on track to have about $7.469 million in deadline day salary cap space, according to PuckPedia.
The interesting salary cap dynamics that will impact the league as a whole in the coming seasons are having an effect on the Avalanche right now. Nathan MacKinnon has set the team’s internal salary cap with his $12.6 million AAV, but that deal was signed in 2022 under much different market conditions. Rantanen, a 28-year-old one-time 50-goal scorer who leads the Avs in goals this season by a wide margin (he also leads the league in empty netters) is in position to net a huge contract just as the cap is set to take its biggest one-season hike in years, with more growth to follow. But would the Avalanche entertain the idea of his contract coming close to, or surpassing, MacKinnon’s?
I’m not sure Colorado is getting traction in extension talks. There is a belief they already offered $90 million over eight years ($11.25 million AAV) earlier this season. It doesn’t sound like the two sides are close, still well over $1 million apart and maybe even $2 million. So Rantanen’s name is out there and if these contract negotiations don’t progress soon, he’ll be one of this season’s biggest trade targets.
It’s believed that three teams have made serious pitches for Rantanen, but have been turned down so far as the Avs still hope to re-sign him. Could Carolina have been one of them?
Despite a productive start to the season, Martin Necas’ performance has cooled, scoring just six points in his last 14 games. Signed to a two-year, $6.5 million AAV deal last summer, Carolina has yet to make a long-term commitment to the 26-year-old forward.
The Hurricanes are rumored to be in the market for a star player to help them clear the playoff hurdle, and Necas could be a centerpiece in such a trade. Vancouver and Colorado are logical trade partners, with the Canucks previously expressing interest in Necas.
The sense is the Bruins won’t mess around with Marchand’s future and they are saying all the right things that make it seem likely they’ll re-sign him. But some people in the organization think Marchand should be on a year-to-year contract as he’ll turn 37 this spring. It’s notable that Marchand is represented by the same agency (Newport) as Steven Stamkos, who refused to take less value to stay in Tampa Bay and ended up signing elsewhere. Don’t expect Marchand to take less value than he feels he’s worth either.
Even Zdeno Chara (at 43 years old) left the Bruins and played two more years in the NHL before calling it quits.
In some ways, this could be a comparable scenario to Joe Pavelski. San Jose was at a crossroads and didn’t want to give him an extra year when he was 35 years old, so Pavelski signed a three-year deal with Dallas and was a highly productive player for them. In fact, he signed two more one-year deals with the Stars and retired at 40 years old. This is why Boston has to think long and hard about giving term to Marchand, their captain and second-highest scorer.
The Bruins got a coaching bump after making the November change from Jim Montgomery, starting 7-2-0 under Joe Sacco. But they’ve gone 7-8-2 since, have earned just five points in seven January games so far, and are 10th in the East by points percentage. Though this is still heading towards an amicable resolution, if Boston’s hold on a playoff spot keeps loosening, Marchand will more and more become a situation of great interest.
Until we hear about more firm negotiations between Marchand and the Bruins, he remains on this list.
In the third year of an eight-year contract, Jones is a long shot trade candidate because this won’t be an easy one to get done during the season. But Chicago needs to find a way to move this heavy $9.5 million cap hit.
At full value it would be next to impossible to find a taker, but if someone could convince the Blackhawks to eat 50 per cent of the value, suddenly it’s not such a bad flyer for a competitive team to take on Jones with a $4.75 million cap hit.
This wouldn’t be an outright salary dump, so it would still cost a top asset, or two, if the Hawks are going to keep that much salary for another five years. There’s no doubt this would be a tricky move to get across the finish line, but make no mistake that Chicago would like to move off this contract — and Jones needs a fresh start as well.
The Rangers have been spiralling for a while and are 12th in the Eastern Conference by points percentage. That they haven’t made a change at head coach tells us management thinks this might be more of a player personnel issue, so we’re keeping an eye on what movement could happen on the ice.
Zibanejad, 31, still has another five years left on his current contract that pays $8.5 million against the cap. And though he scored 163 points combined over the 2022-23 and 2023-24 seasons, Zibanejad has just 27 points in 43 games this season, which is his worst pace in seven years.
He also has a full no-movement clause and while that doesn’t mean the Rangers can’t work with him to find a deal, the centre still has control. If New York is eyeing Miller or Pettersson from Vancouver they’d probably have to accomplish that with a different player as the centrepiece because Zibanejad will not waive to go to British Columbia.
Things have quieted down somewhat for the Rangers lately, but how much has management’s outlook really shifted?
Think of all the players who’ve suited up for the Sabres during their rebuilding years, then were moved and had far greater success elsewhere. Jack Eichel, Sam Reinhart, Brandon Montour and Ryan O’Reilly all won Stanley Cups. Linus Ullmark became one half of the league’s best tandem, then earned a No. 1 goalie’s contract in Ottawa.
Now at the bottom of the Eastern Conference again, in a season they had to make a playoff push, the Sabres are cornered. Cozens’ name is out there, but GM Kevyn Adams had better be very careful with how he handles this player. He’s still just 23 years old, is two seasons removed from being a 30-plus goal scorer, and is still signed for another five years at a $7.1 million cap hit. Between him and Tage Thompson, the Sabres could have a heck of a 1-2 at centre locked in for the long term as the salary cap spikes.
So, if they do trade Cozens, what are they getting back that will help them? This could be a mistake waiting to happen.
There are some teams that will look at their pending UFAs as own-rentals they need to chase a Stanley Cup with. But at this point, the Canucks are battling for the second wild card spot, a far cry from last season’s division-winning squad when everything fell just right.
Make no mistake, the Canucks like their team overall, but don’t feel they’re in a position to rent their own player this season, which makes it far more likely than not Boeser gets traded before the deadline. Kiefer Sherwood’s arrival and fit as a top-nine player with sandpaper to his game and a productive 13 goals in 43 games (third on the Canucks) is a huge plus that can help absorb the loss of Boeser, who has 15 goals in 36 games.
While in the past it may have been an easy decision to rent your own player I think Florida is still contemplating a lot on Bennett. He started the season red-hot and all but assured of a career season, running just shy of a point per game pace through the first two months. But Bennett hasn’t scored a goal since Dec. 3 and has just four assists in his past 18 games.
Teams continually ask about him and he has a unique style that elevates in the playoffs. Bennett was an important factor in Florida’s Stanley Cup win last season and its run to the final two years ago. There’s no question he has value around the league so, until the Panthers sign him or definitively say they’re not trading him, he’ll stay on my list.
Florida understands his contract demands, or the price he may get on the open market as an unrestricted free agent this summer, doesn’t align with where they think they can pay him.
Making $7 million against the cap through the 2028-29 season, it remains more likely than not that Kadri won’t still be a Flame when Scotia Place Arena opens in a few years. And, in fact, it remains possible that he’ll get traded before this season’s deadline.
The reason why Rasmus Andersson came off this list and Kadri stayed on largely has to do with age. At 34, Kadri is in a much different place in his career and would find interest from various teams around the league that are looking for a centre. He was a key part as the second line centre for Colorado when they won the Stanley Cup in 2022 before becoming a free agent.
Kadri remains in control with a full no-movement clause but, especially if the Flames ever fall behind in the playoff race, he’ll remain a player to keep a close eye on.
Ferraro’s name will linger in trade rumours all season. He has one more year left on a very reasonable $3.25 million cap hit, doesn’t have any trade protection and is a valued penalty killer.
What makes him attractive to the Sharks is what will make him attractive to trade suitors, but San Jose won’t be looking to just offload the player. Still just 26 years old, Ferraro has long-term value and, should it come to it, the Sharks could still hang on to him and explore trading Ferraro as a rental next season — or even re-signing him.
While there is no rush here, teams will like both what Ferraro does on the ice and what his contract looks like off it.
Teams won’t be looking to Ristolainen as a blueliner to add some offence, but there will always be a market for big, right shot defenders with a huge reach who can play top-four minutes, kill penalties and throw their weight around.
Ristolainen is just that. He leads all Flyers defencemen in hits and is second in average time per game on the penalty kill.
Making $5.1 million against the cap for another two seasons past this one, as the upper limit spikes that cap allocation will be less of a concern when Ristolainen moves into his 30s. However, the Flyers also have time here and can hang on to the player if they don’t find the market for him is quite right yet. They are also still in the playoff race, trailing a wild card spot by four points. One hot streak could put them in it, so they may want to see how this plays out.
Outside of a 6-0 loss to Philadelphia over the weekend — one of his potential trade suitors — Gibson has been playing well since starting his season in November and has a .908 save percentage in 18 appearances. He’s ninth in the league among all goaltenders in Goals Saved Above Expected, according to Money Puck, and has another two years left on a $6.4 million contract.
Gibson has made a regular appearance on trade lists for years, and though Ducks GM Pat Verbeek is still asking for a lot in return, this could be the year it finally happens. Lukas Dostal is a rising talent and pending RFA Anaheim will have to figure out a contract for. The question is, after some goalies have been moved already, what is the market like for this position?
Signed through the 2029-30 season with a $3.5 million cap hit, Mayfield is a big, right shot defender who kills penalties, blocks shots and is physical. Just the type of defenceman teams seek out at the trade deadline. But he’s not a rental, which could potentially complicate things.
Would the Islanders have to eat any money to make the deal work? Possibly, but considering the incoming cap spike, $3.5 million won’t be so challenging to manage as Mayfield ages into his mid-30s. There is the consideration that he has a no-trade clause, so it would require him to sign off on a move, but if Lou Lamoriello wants to move Mayfield, there will be a market. The Maple Leafs would love to get this player.
Still appearing on this list because Laughton’s name is out there and has been since last season. He’s positionally flexible, kills penalties, and is tracking towards one of the better offensive seasons of his career. He’d be an attractive addition to any team’s bottom-six.
The Flyers’ asking price in a trade remains high, and a first-round pick-plus is the starting point. That’s because the organization highly values Laughton and he’s well-liked in the room by the players and coaching staff. With one more season left on his contract that pays $3 million against the cap there just isn’t a pressing need to flip him yet, but it’s always possible.
When I did the first of these trade candidate lists, it seemed a certainty the Blue Jackets would be sellers, and of course UFA-to-be Provorov was setting up to be the headliner among rental players. Though that may still be the course this takes — even the most likely one — the picture has changed a little bit.
The Blue Jackets have gone 9-4-3 since I released my first list, which is tied for eighth in points percentage across the entire league since Dec. 11. That run has brought them back into the playoff picture and today Columbus is one of the best stories of the season, holding the East’s second wild card spot.
With how crowded everything is in the East, some organizations are afraid of giving up too early and weakening their team. Columbus falls into that group for now. Let’s see where they sit in a month.
Pittsburgh is another one of those teams in the thick of the Eastern Conference playoff race, sitting just four points out of a wild card spot Wednesday morning. But unlike some of these teams who may want to hang on and re-consider what their plans are for the trade market and how to handle their pending UFAs, Pittsburgh’s path is clear.
The fact is the Penguins are one of four Eastern teams with a points percentage under .500 so GM Kyle Dubas’ attention will remain on the years ahead and accumulating assets rather than getting caught up in the race and hanging on to free agents as either an own-rental, or to re-sign later on.
At the time of my last list, Pettersson had been on the ice for more goals against at 5-on-5 than any other player in the NHL, which mostly had to do with the Penguins’ overall struggles. He doesn’t lead the league in that stat any more and, in fact, since that list was published on Dec. 11 the Penguins have scored 10 goals at 5-on-5 when Pettersson’s been on the ice, and allowed just four.
The Canadiens made a move for a defenceman who appeared on my 1.0 list, bringing in Alexandre Carrier from the Nashville Predators. It was a good push to add a player young enough to still be part of this team when it is scheduled to take off, but still old and experienced enough to play key minutes and take on high value assignments.
After a nice run through the holidays, the Canadiens are in the playoff picture now, which has everyone wondering how they’ll recalculate their trade deadline. It’s hard to imagine them being much more of an aggressive buyer, but will they be less of a seller now? At his mid-season media availability, GM Kent Hughes appeared to suggest he’d rather keep a player like Savard as an own-rental to play with the kids in this run and then possibly lose him for nothing in the off-season instead of sending him out as a rental.
Still, Montreal’s best years are ahead of them and Savard could pull a trade offer that is too good for Hughes to turn away. Could they get second- and third-rounders offered? Hughes is saying all the right things, but may have to keep those options open. That said, if the Canadiens are still in the race come March, Savard may stick around after all.
We’ll keep Nikolaj Ehlers in play on our list for now, but he may be one of the tougher players to truly judge on whether he stays or goes.
In the past, Jets GM Kevin Cheveldayoff has been good at moving guys he isn’t going to get signed or that won’t sign with him, but never before has he felt closer to having a Stanley Cup calibre team so ‘renting your own player’ doesn’t seem out of the question this time.
The interesting dynamic here for the Jets is that they’re using Adam Lowry in the second line centre position and have a need to trade for someone in the third slot.
Ehlers is fourth in points and ice time per game among Jets forwards, but their top line of Kyle Connor, Gabe Vilardi and Mark Scheifele average collectively around 19 and a half minutes per night, while Ehlers plays as often as the next group of five forwards around 15 and a half minutes per night. That’s at odds with what most other teams do in having four-to-six forwards average closer to 17 minutes. Ehlers has never been given big minutes in Winnipeg and now, with an expiring contract, has an opportunity to try getting them somewhere else this summer.
At the same time, the lack of minutes Ehlers is getting to show he can be a front line guy may hurt his overall perceived value. This will continue to be a situation to watch and could change at any time, but keeping him seems the more likely outcome for Winnipeg.
The Islanders are in the playoff race, have won three of their past four games and we know Lamoriello has been loyal to this group. There is still time for the GM to make an ultimate decision on how he’s going to approach trades.
However, lots of people in the industry think the 82-year-old won’t be back in this position with the organization next season, so ownership could be putting pressure on Lamoriello to ensure he brings back assets and not leave the Islanders without more futures for a new GM to work forward with.
Nelson might return the most of any player the Islanders could trade. He’s a big guy who can play inside the top-six and deliver goals in any situation. He has a partial no-trade clause but will have plenty of suitors. The Dallas Stars need to find someone to fill in for Tyler Seguin, while the Toronto Maple Leafs have signalled they are going after a centre, and the Jets could also be a destination.
Palmieri is another of the Islanders’ pending UFAs who is likely to move on, especially if they don’t go on a run and put themselves more securely in a playoff spot by the trade deadline. Like Nelson, Palmieri also has a partial no-trade list. He’ll turn 34 years old in February.
Palmieri still adds an element every team needs come playoff time: goals. Coming off a 30-goal season last year, Palmieri has 12 in 43 games this season, 10 of which have come at even strength. He and Nelson are two of the Islanders’ top-four goal scorers this season, but this team hasn’t won a playoff series since 2021 and needs to start thinking about a path forward.
The most difficult part of trading Hall is that his cap hit is $6 million, which is not going to be easy for most buyers to fit in at the deadline and may require the Blackhawks to retain some salary. Chicago has one of their three retention slots already used and it comes off the books after this season (Jake McCabe). A Hall retention would disappear when the season ends, too.
Though Hall has struggled to get too much going this season he’s still fourth on the team in scoring. Hall has scored just three goals since Dec. 1, but in that time he’s third among all Blackhawks in primary assists.
While the Eastern Conference playoff race is so tight, without anyone willing to give up yet, the Western Conference has a lot more separation to it. Seattle, with just four wins in their past 14 games have slipped behind Anaheim and are now eight points behind the second wild card spot. With hopes fading, it’s becoming much more clear that they’ll sell by the deadline.
Injured at the moment, Gourde has playoff experience and two Stanley Cup wins other teams will be attracted to. Making $5.166 million against the cap in the final year of his deal, the Kraken will have a tough time keeping his salary at a reasonable rate if they try re-signing him before he hits the market in July. It’s likely $5 million will be too much for Seattle to invest in the 33-year-old this time, meaning it’s more likely he’ll be moved by March 7 — and certainly will be if he doesn’t have a contract by then.
Check out the NHL blocked shot leaders by position: Toronto’s Chris Tanev is third among all defencemen with 122, while brother Brandon has more blocks than any other forward with 75. The toughness just runs in the family.
Brandon is also a physical player and averages more penalty kill time than any other Kraken forward. He has a skill set valued by playoff teams and is a great energy player to pick up.
Because of the playoff-style element he brings to the table, Tanev could wind up netting the Kraken a third- and fourth-rounder in a trade, and possibly even a second-rounder straight up.
TRADED OFF REAL KYPER’S 1.0 LIST: Alexandre Carrier, Cam Fowler
RE-SIGNED OFF REAL KYPER’S 1.0 LIST: Frank Vatrano
