Updated: Jun 5
After yet another packed and exciting NHL trade deadline, here are some of the winners, and losers of this year’s deadline, some losers being sorer than others.
Winners
The Dallas Stars
The biggest talk around this year's NHL trade deadline was Mikko Rantanen and whether he would be traded for the second time in a year after only joining the Hurricanes over a month ago. But as the morning of the trade deadline loomed, it was Dallas who were in pole position to pick up Rantanen. It was later announced that the deal was agreed between Carolina and Dallas, including an extension for Rantanen as part of the deal.
Midway through the day it was announced by Elliotte Friedman that the Stars were working on a trade for Rantanen which would likely involve two first round picks, and potentially Logan Stankoven. Eventually after leaving Dallas fans on the edge of their seats for hours on end, the Stars acquired Rantanen for two first round picks, two third round picks, and Logan Stankoven. The Stars would then shortly extend Rantanen to a eight year $12 million AAV, locking up the star winger for their quest for the cup this season.
But what makes this trade in particular a win for the Stars other than the fact they acquired Rantanen? Simply because they managed to sign him for $12 million AAV is a massive win for Dallas as originally Rantanen would only settle for $14 million upwards. Although they got rid of their 2026 and 2027 first round picks, they still acquired one of the best wingers in the league for a very affordable price, and getting rid of a top six forward like Stankoven isn't a massive loss for them given they have a much stronger core headed forward with the addition of Rantanen.
The Ottawa Senators
Coming towards the deadline, the Senators would 100% be buyers, sitting in the top wildcard spot in the east, they looked for offense to give them better hopes headed towards the playoffs.
One name which was attracting trade talks pretty much all year for Ottawa was Josh Norris, and at the deadline he was moved along with Jacob Bernard-Docker to Buffalo in return for Dylan Cozens, Dennis Gilbert, and a 2026 second round pick. Some Ottawa fans would probably not have made this trade purely because of how underwhelming Dylan Cozens has been at the start of his career, but moving an injury prone player like Norris in return for a solid second or third line centre in Cozens, along with a very valuable second round pick, this trade is definitely a win for Ottawa. Despite Norris having a slightly better return on the year in terms of stats than Cozens, Ottawa seem to have believed Norris has reached a ceiling in his game. But another key reason as to why the trade is a win for the Sens is the contract situation. With Cozens having one year less on his deal than Norris, and an AAV of $900,000 less than Norris, the financial gain along with the return of the trade definitely makes this a solid move for Ottawa going forward.
Ottawa didn't stop there though as they were engaged in late talks with the Sharks regarding a possible trade for winger Fabian Zetterlund which was eventually completed, adding more depth and promise to the team going forward this year. One of the main reasons Ottawa had a great deadline is because of the draft capital they acquired along with some key players for their team going forward. The trade with San Jose was a massive trade once again for the Sens acquiring Zetterlund, Robins and a fourth round pick in return for Zack Ostapchuk, Noah Gregor, and a 2025 second round pick.
Another smart trade made by the Senators acquiring a low risk return in Zetterlund, with only one year left on his deal at $1.4 million is a great deal for the playoffs had they made it. Even if Zetterlund is a rental in Ottawa this year, another solid pickup for depth on the third line is a great pickup, along with a fourth round pick capped off some very smart business for Ottawa on the trade deadline day.
The New York Islanders
One of the only teams who were big sellers coming into this year's trade deadline were the Islanders. With Nelson, Dobson, and Pageau just some of the names on the block for the Islanders, it was long time veteran Brock Nelson who snubbed the contract extension given to him by New York, opting for his chances at the cup, eventually being traded in a massive haul which saw him land in Colorado.
Some believe Nelson getting traded was a bad look for New York, but after the massive haul they got for him, it's no surprise any Islanders fan wouldn't make that trade. With a deal in place which would send Nelson to Colorado, the Islanders managed to get a 2026 first round pick, a 2028 third round pick, high level prospect Callum Ritchie, and defenseman Oliver Kylington (later moved to Anaheim).
When the trade was announced it was no doubt some Islanders fans would be upset with Nelson moving on, but acquiring a prospect with the elite level that Ritchie has is massive. Adding Ritchie to a plethora of prospects in the system such as Eiserman, along with a first round pick in 2026 is massive for a potential rebuild coming in New York, and could be a trade that both teams will have massively benefitted from in years to come.
A veteran like Nelson leaving was an emotional rollercoaster for Islanders fans, but with a fleeced return like that, the 2025 deadline could be a day to remember for the future of the New York Islanders making this a massive win for them.
Honorable Mentions
The Chicago Blackhawks
The Blackhawks were bound to be sellers after the Seth Jones trade in which they acquired Spencer Knight, with three goalies on the roster, Petr Mrazek was on the chopping block come the deadline. Shopping Mrazek seemed to be an impossible task for the Blackhawks with his big contract and inconsistent form. But it was Detroit who eventually picked up Mrazek in an amazing deal for the Blackhawks which saw them acquire Joe Veleno in return for Mrazek and Craig Smith. Although they did not trade Donato at his highest value, they also made a very smart trade with Utah which gave them prospect defenseman Soderstrom, and the massive contract of Shea Weber in order to get them over the minimum cap for next season making this years trade deadline an extremely smart year for Chicago and Kyle Davidson.
The Columbus Blue Jackets
Despite only acquiring Luke Kunin from the Sharks for a fourth round pick, this move was a good move for Columbus in their quest for the playoffs by acquiring some much needed depth in a solid workhorse like Kunin. The sacrifice of a fourth round pick for a player who will benefit the team a lot defensively and on special teams is a great move for Columbus. Also by keeping players like Ivan Provorov on the roster is a great decision for the Jackets, keeping some of the veteran presence on the team, and maintaining players which will help them make the playoffs instead of acquiring unneeded draft capital. A solid sneaky move by the Jackets.
The Edmonton Oilers
The Oilers seem to be making it an annual thing of trading for D-men at the deadline, this year's D-man of choice being the San Jose Sharks Jake Walman in return for a first round pick. Some may say its an overpay by the Oilers, but a first round pick in the late first round for a top four defenseman to strengthen their chances of reaching the Stanley Cup finals again is a good move by the Oilers, similar to the Ekholm trade by adding some physical reinforcements to the roster.
The Florida Panthers
In arguably the blockbuster trade of the deadline, the Panthers capitalised on their newly acquired cap space at the hands of Matthew Tkachuk heading to the LTIR by trading for Boston legend Brad Marchand. The talk of the league was all about Marchand all day, and after rejecting a horrendous offer from the Bruins, Marchand was traded to Florida to join his rival Sam Bennett in return for a second round pick, giving the Panthers a better chance than ever to defend their cup.
Losers
The Toronto Maple Leafs
Just like the Oilers with their latest trend of trading for D-men, the Maple Leafs continued their trend of trending first round picks to everybody into this year's deadline. The Leafs were looking for a third string centre and a top four defenseman at this year's deadline, and they got their guys, but for what cost.
The first trade the Leafs engaged in was acquiring Scott Laughton along with a fourth and a sixth round pick from Philadelphia in return for a 2027 first round pick, and prospect Nikita Grebenkin. With their 2025 first round pick now belonging to Chicago in a trade in 2023 which involved Jake McCabe and Sam Lafferty, the Maple Leafs were not playing around when it came to dealing yet another first round pick in 2026 for Scott Laughton.
For some Leaf fans, it's a decent pickup, and Laughtons veteran presence on the team will add some needed depth to help their playoff run, but a first round pick and Grebenkin, not a good deal on Toronto’s end. Laughton is not a great point producer but he is a recent physical presence, but the Maple Leafs sacrificing yet another prospect in Grebenkin, and a future prospect in 2027 is yet another silly deal on Toronto’s behalf. One good aspect of the trade was being able to keep Fraser Minten by trading Grebenkin instead, but in this instance Danny Briere fleeced the Leafs, and the Leafs log another historically bad trade.
But the day didn't quite end there for Toronto. With a top four defenseman in their sights, Toronto felt like their 2026 first round pick as well as hot prospect Fraser Minten was a good trade for Boston’s Brandon Carlo. Arguably being the worst trade of the day, the Leafs acquired Brandon Carlo, a player with two years left on his deal for over $4 million, and on top of that acquired $3 million dollar Laughton who has one year remaining, all for two first round picks, and two of the teams most promising prospects, a truly overloaded disastrous day for Toronto.
The Carolina Hurricanes
Now in terms of the trade deadline, the Hurricanes didn't have the worst day, acquiring two first round picks, two third round picks, and Logan Stankoven, but their losses source back all the way to the original Rantanen trade.
With all trade scenarios put together, Carolina received Taylor Hall, two firsts, two thirds, and Logan Stankoven in return for Martin Necas, Jack Drury, Mikko Rantanen, a fourth round pick, and a second round pick making this a little loss for Carolina. Although they have still acquired lots of good capital, and a potential top six forward for the future, for two players like Rantanen and Necas they could have gotten much more for their team. Having to trade Rantanen again to the stars was the worst thing to happen to Carolina, but trading Necas for effectively nothing big either will have not helped them at all in their push for the cup this year, and only made situations much more difficult for Carolina going forward.
Despite getting lots of good capital and some decent roster players, the overall year of traded for Carolina is a loss, and a big mess they hope to never replicate.
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