The lead-up to the NHL trade deadline is often frenetic. This year, it has burned more slowly. Even with the three-week Olympic break, in which front office executives and agents have had ample time to discuss trades, extensions and other roster movement, the past few days haven’t produced the flurry of activity that many had expected.
Officials have pointed to several factors that could hamper the trading market ahead of Friday’s deadline:
1. Everyone is adjusting to the new CBA rules. As Greg Wyshinski reported on MondayIncluding the implementation of the playoff salary cap for the first time. General managers are waiting as long as possible to make decisions, especially with player injuries.
2. New salary retention restrictions are also hampering business. Previously, a player on an $8 million contract could retain his salary twice – once through a third-party broker – and move to a contender for $2 million. From this year, a player’s salary cannot be retained twice within 75 days. So, a team can still offer up to 50% retention, but fitting in $4 million versus $2 million is a big difference.
3. Extremely high prices. A handful of teams have announced they are open for business: the Canucks, Blues, Rangers, Flames and even the Maple Leafs. But it is a buyers’ market, and those in the market say they are waiting for more affordable deals on Friday. Some of the biggest acquirers – the Avalanche, the Wild, the Oilers, the Golden Knights, the Stars and the Lightning – do not have a first-round pick in the 2026 NHL Draft, which is projected to be a strong one.
4. Parity is as strong as ever. It’s a turtle race for the final wild-card spot in the Western Conference. The picture is extremely busy in the East, with the top 10 teams entering Tuesday with a lead of 14 points. I told a GM this week he needed to see how his team’s last two games went before making a decision about the direction of the team on Friday.
All this leads to this impasse. But all it takes is one trade to open the floodgates. Till then the scenario looks like this.
Race in the Central Division, especially between the Wild and the Stars. Both teams are on a collision course for the first round heavyweight bout. Wilde took another bold step, Using 2028 second-round pick for the bottom six center Michael McCarron. GM Bill Guerin is doing everything he can to get his team to the first round of the playoffs for the first time since 2015. Remember, they still have to be persuaded quinn hughes (eligible for expansion this summer) that it’s worth sticking around, so Guerin’s work isn’t done yet. I heard even after the McCarron acquisition that Wilde is still involved Vincent Trocheck.
Meanwhile, the stars are launched to counter-attack. First, Dallas had to make a tough decision tyler seguin. The center seemed to have fully recovered from his hip surgery and was back to himself before suffering an ACL tear in December. Out of respect for Seguin, the Stars let him begin his rehabilitation to see if he could possibly return for the playoffs. Seguin worked as hard as he could. But after the Olympic break came the tough conversations: It was a medical long shot. By placing Seguin on long-term injury reserve at the end of the season, the Stars will have full access to his $9.85 million cap space. And they are expected to use it.
then there is colorado avalancheWho have not been able to advance beyond the second round of the playoffs since winning everything in 2022. The Avs have cleared cap space by moving up. Samuel GirardAnd they look ready to do something. They have also explored the possibility of a possible reunion nazem qadri.
New entries are a mystery. It looks like there will be a lot of changes from last season’s playoff picture. What remains to be seen is how aggressive some of the new teams will be. detroit red wingsBarring an epic collapse, they are finally on course for their first playoff appearance in a decade. Last year, Detroit players believed they had earned reinforcements at the deadline, but GM Steve Yzerman remained patient. Will he change course this time? Detroit is a team that has the potential to make a big difference.
buffalo saber This is an even better story, as they are trying to break the longest playoff drought in NHL history (14 years). Since mid-December, when Buffalo made a GM change, no one in the league has had a better record (23-5-2).
The biggest decision seemed to be what to do with the pending unrestricted free agent. alex touch. New GM Jarmo Kekalainen has had open talks with Tuch’s representative Brian Bartlett. But despite having extra time to talk over the Olympic break, they have not agreed on what the new contract will look like. I don’t expect them to close the gap before the trade deadline, but I also don’t expect Tuch to move on. They will take a decision by summer. All this cannot happen. TSN reported Tuesday that the Sabers have been in discussion robert thomasOne of the top centers available. I also heard that they are looking for physical guards.
It’s a strange year for the goalie market. The Oilers have already made their big move, the swap. stuart skinner For tristan jerry. Despite some early hiccups with Jerry (he has an .863 save percentage through his first 11 starts), it seems as if they’re not done looking for other solutions. Edmonton’s focus now turns to third-line centre.
the blues are in danger Jordan Binnington among their available players, but if he does move, it is more likely to be a summer deal. florida goalie sergey bobrovsky‘s contract expires this summer, and it doesn’t seem like he and the team are close to an extension. While Florida is keeping it intact, many of the people I talk to around the league doubt that Bobrowski will be traded, even if the Panthers fall out of the playoff race.
It is not clear whether any team is looking for a goalkeeper right now. vegas golden knights and this carolina storm State publicly that they are happy with their netminders; Privately, some executives believe both teams may seek upgrades.
Everyone wants a right-shot D. Of course, apart from center, right-shot defenseman is the most coveted position in the league. A lot of teams are looking. Only a few are available. One of those that is generating good interest is from Philadelphia Rasmus RistolainenWho can play top-four minutes and brings a physical, playoff-ready game. As a team that would be getting him for two playoff runs, the Flyers set the bar high (a first-round pick, even higher). Philadelphia has no problem retaining Ristolainen; The Flyers will need a top-four right-shot defenseman next season as well.
Being open for business doesn’t mean having a lot of business. Then again, there are plenty of teams with big names hanging around. The Blues were in the same position last season, achieving nothing. They kept running and reached the playoffs. GM Doug Armstrong has no problem dealing with the noise.
The Rangers also released a letter of intent to re-equip. New York is already separated artemi panarin And carson saucyAnd they’re hearing a lot, but there’s no guarantee the cuts will be deeper than this. The most likely player to be moved is Trocheck. The league is expecting it and so are the players. There has been a lot of interest from teams other than Minnesota, I believe the trade proposal is focused on prospect Charlie Stramel and a 2027 first-round selection as well as another player or prospect. Trocheck has the 12-team no-trade list and said Many West Coast teams are on it,For family reasons. Rangers GM Chris Drury has told teammates that since he has Trocheck under contract for three more seasons, he doesn’t need to do anything now. That could just be a show.
Some teams are complete wild cards. The Penguins entered this season looking as if they were about to begin a rebuild. However, GM Kyle Dubas and first-year coach Dan Muse have hit all the right notes. even without Sidney Crosby With a month to go, Pittsburgh has enough depth to hold on to a playoff spot. There are 11 players on the team who will become free agents this summer, none bigger than this. evgeni malkin. They’re not close to a new contract for Malkin, but aren’t going to trade him either. Dubas wants to continue on his way, making hockey trades to strengthen the roster with players in their mid-20s, an area where it is thin.
The Bruins exposed talent while making brutal and emotional cuts at last year’s deadline. But thanks to the strong coaching of Marco Sturm they have been one of the league’s early-season surprises. GM Don Sweeney said his players have earned an “upgrade”, although he claimed it would not be an overly aggressive one.
Meanwhile, Utah and Seattle have recently made big changes. Both were on Panarin. Eventually, they will join.
