The NHL trade deadline lived up to the hype this Friday, delivering a series of impactful transactions right up to the last moment. The Eastern Conference witnessed significant activity, including surprising moves from the Boston Bruins.
In the Western Conference, an intense competition unfolded as the Dallas Stars and Colorado Avalanche strategically strengthened their rosters for the approaching playoffs. Notably, Mikko Rantanen, who began the season with the Avalanche and was later traded to the Carolina Hurricanes in January, was traded again before the deadline, this time joining the Stars, a major rival of Colorado.
These trades represent just a portion of the day’s overall activity. Let’s delve into the major winners and losers from this eventful trade deadline day.
Winners
Dallas Stars
Prior to Friday, the hockey world wondered if the Carolina Hurricanes would trade Mikko Rantanen. Ultimately, the Hurricanes decided to trade the seasoned veteran to the Stars. In return, Carolina received forward Logan Stankoven, a 2026 first-round pick, a 2027 first-round pick, a 2026 third-round pick, and a 2027 third-round pick. Rantanen also agreed to an eight-year, $96 million contract extension with Dallas before the trade was finalized.
The Stars were already considered strong contenders for the Stanley Cup before acquiring Rantanen. Now, with Rantanen joining an already formidable forward group including Jason Robertson, Roope Hintz, Matt Duchene, and Wyatt Johnston, Dallas’s offensive power is significantly enhanced. Rantanen is expected to play on the top line with Robertson and Hintz, forming a potentially dominant trio. Rantanen’s scoring record speaks for itself, ranking fifth in the NHL for goals over the past five seasons, surpassed only by Auston Matthews, Leon Draisaitl, David Pastrnak, and Connor McDavid. Adding a player of Rantanen’s elite caliber undoubtedly makes the Stars a major winner.
Colorado Avalanche
Closely following the Rantanen trade, the Avalanche made a significant move of their own, acquiring star center Brock Nelson from the New York Islanders on Thursday night. The Islanders received defenseman Oliver Kylington, forward Calum Ritchie, a first-round pick in either 2026 or 2027, and a conditional 2028 third-round pick. The Avalanche continued their activity by also adding Charlie Coyle from the Boston Bruins in exchange for Casey Mittelstadt, in a swap of centers.
The Avalanche have notably improved their center position. Nelson is a skilled two-way player who can also contribute to the penalty kill, representing an immediate upgrade over Mittelstadt as the second-line center. Mittelstadt had not fully met expectations since his acquisition from the Buffalo Sabres at the 2024 trade deadline. Coyle brings versatility, capable of playing both center and wing, and provides a physical element that can strengthen Colorado’s third line, even if he isn’t primarily an offensive force.
Florida Panthers
In a surprising development, the Panthers reportedly acquired star winger Brad Marchand in a trade with the Boston Bruins, who chose to part ways with their captain. This move suggests a shift in direction for the Bruins, who appear to be sellers, with other players also expected to leave. The trade is particularly notable given Marchand’s recent playoff history against the Panthers in the last two Stanley Cup Playoffs.
Marchand is currently sidelined with an upper-body injury and is expected to be out for a few weeks, meaning he won’t immediately join the Panthers’ lineup. However, upon his return, he will significantly boost Florida’s offense, likely slotting into the second line. Marchand’s playing style is known for its ability to agitate opponents, similar to Matthew Tkachuk, adding a valuable dimension to the Panthers, especially in the playoffs.
The Panthers’ acquisition of both Seth Jones and Marchand clearly indicates their ambition to contend for consecutive Stanley Cups.
Losers
Buffalo Sabres
The Sabres are not in playoff contention this season and made roster changes at the trade deadline. Buffalo traded center Dylan Cozens, defenseman Dennis Gilbert, and a 2026 second-round pick to the Ottawa Senators for center Josh Norris and defenseman Jacob Bernard-Docker.
Cozens had a strong season two years ago with 68 points but has faced challenges since. Despite this, his talent is undeniable, and the return for him appears questionable. Norris, at 25, is entering his prime, but his career has been impacted by injuries, including multiple shoulder surgeries. The Sabres also included a second-round pick in the trade. While Norris could become Buffalo’s top center if healthy, the trade carries significant risk.
Carolina Hurricanes
The Hurricanes took a gamble when they traded for Mikko Rantanen in January. As the trade deadline approached, it became apparent that Rantanen was unlikely to sign a contract extension with Carolina beyond the current season. Trading Rantanen became a necessary move to avoid losing him without any return. Although they received a decent return for Rantanen, it’s a setback from a broader perspective.
The Hurricanes made a bold move at last year’s deadline by acquiring star forward Jake Guentzel from the Pittsburgh Penguins. Despite aiming for a Stanley Cup, they fell short, and Guentzel later joined the Tampa Bay Lightning in the offseason. This season, they traded Martin Necas to acquire Rantanen. For the second year in a row, the Hurricanes’ attempt to add a star forward to push them over the top has not worked out as planned.
