With the NHL trade deadline on Friday, Shayna Goldman of The Athletic provided instant analysis on the major moves as they happened.
The Athletic has live coverage of the 2026 NHL trade deadline.
Deadline resources: Trade board | Trade grades
Avalanche get: F Nazem Kadri (20 percent of salary retained), 2027 fourth-round pick Flames get: 2028 first-round pick, 2027 second-round pick, F Victor Olofsson, F Max Curren
After a very slow deadline, the Avalanche and Flames saved the best for last.
Kadri’s scoring and defense may have trended down this year, but he still carries a very strong offensive profile. He is very active with the puck, between his ability to drive play into the zone and generate scoring chances. Sure, there’s some risk with his age and remaining contract. With 20 percent retention, there is less stress if he can’t play at a caliber of a $7 million cap hit next year. And if any team knows how to maximize Kadri, it’s Colorado. With more support around him, he should be able to amp up his offense and add another threat to the top nine (which is absolutely loaded down the middle, with Nathan MacKinnon and Brock Nelson ahead of him on the depth chart). Maybe Kadri will be the key to fixing the Avs’ power play, which has surprisingly underwhelmed this year.
So while this move will hurt Colorado in the long run, because the team is now without its next three first-rounders, the future isn’t the priority: this window rightfully is. This iteration of the Avs is stacked and this is their best chance to contend, so management had to do everything in its power to capitalize that. With some Western Conference contenders disappointing at the deadline, the timing couldn’t be better.
The Flames, on the other hand, take a necessary step in their rebuild. Since Blake Coleman wasn’t moved, it was all the more important to capitalize on Kadri’s value before age or his surroundings tilt it down any further. While there is some delayed gratification with a 2028 first-rounder and 2027 second-rounder, those picks are better investments with Colorado’s chances of a deep run this year.
Laughton’s Toronto run ends with move to L.A.
Kings get: F Scott Laughton Maple Leafs get: Conditional third-round pick
The Maple Leafs probably hoped to get more for Laughton, based on how center prices trended over the last week — and how much Toronto spent to acquire him last year. It’s an underwhelming finish to a disappointing year (and deadline) in Toronto. But a draft pick in return is better than nothing for a pending UFA. Laughton won’t help the Kings’ scoring woes, but his defensive presence could be a plus after Phillip Danault’s early-season exit and Warren Foegele’s trade to Ottawa this week.
Kraken add to middle six with McMann
Kraken get: F Bobby McMann Maple Leafs get: 2027 second-round pick, 2026 fourth-round pick
It would have been exciting to see Seattle finally make a really bold swing to boost their playoff chances, especially with one of the toughest remaining schedules ahead. But Bobby McMann was a cost-effective add who looks like a strong fit for the Kraken’s middle six. He’s a bit streaky but, at his core, is a utility forward whose forechecking, speed and depth scoring should add a little more oomph to the Kraken. The return, on the other hand, is a little underwhelming for the Maple Leafs; it looks worse when factoring in how much other depth players brought back over the last couple of days.
Capitals get blue-line replacement in Liljegren
Capitals get: D Timothy Liljegren Sharks get: 2026 fourth-round pick
With John Carlson out and Timothy Liljegren in, Washington’s defense just got a lot younger and more defensive. Liljegren has shouldered a pretty tough burden in San Jose this year against top competition, and did a good job of limiting chances against.
A move to the Caps gives him a chance to build on it, potentially alongside a familiar face. Rasmus Sandin and Liljegren developed chemistry in Toronto together before Sandin was moved in Washington. Pre-trade in 2022-23, the two played over 365 five-on-five minutes together and earned a 59 percent xG. Both defenders have grown into their own since then, so it’ll be interesting to see if they can reunite into an even stronger pairing this time. A fourth-rounder is a very low-risk cost for the Capitals, who can afford to move draft capital for younger NHLers.
Red Wings finally buy, add Faulk to blue line
Red Wings get: D Justin Faulk Blues get: First-round pick, third-round pick
The Red Wings are finally buyers. It’s a big moment for a team that finally looks poised to return to the playoffs. And even more important, Detroit addressed one of its most pressing areas of need: right defense.
Justin Faulk wasn’t the top option on the trade board, but he should provide value as a No. 3 in Detroit. He has been stingy in his own zone this year, especially relative to his teammates. That improved defense over the last couple of seasons has suppressed his offense, but it’s possible a change in scenery will help reignite that side of his game. His presence should have a trickle-down effect in the lineup, since everyone on the depth chart will move down a slot (and the weakest link will slip out of the lineup entirely).
While the Blues were not able to move some of their top players at the deadline, they still managed to net two first-rounders in exchange for aging veterans.
Blues captain Schenn heads to Islanders
Islanders get: F Brayden Schenn Blues get: First-round pick, third-round pick and a prospect
The Islanders have exceeded expectations all seasons, between Matthew Schaefer’s excellence, Ilya Sorokin’s play and the team’s more rush-oriented approach. So it makes sense why management would add now. But this team’s retool isn’t finished yet, despite all the progress made over the last year to add high-end talent to the prospect pool. Ideally, the Islanders would have taken a more measured approach with a player in their 20s who can help improve the team now and in the future.
Instead, the team moved a first-rounder, a third-rounder and a prospect for 34-year-old Brayden Schenn, who has two years left on his contract, and a $6.5 million cap hit. Clearing Jonathan Drouin’s $4 million cap hit for next year helps threads the needle financially. And Schenn should help the Islanders this season; he is a playmaker who can still come up with dangerous passes, sprinkle in some rush chances and add a physical edge to the lineup. A move away from St. Louis could revitalize some of the areas of his game that have ticked down in recent years, too. It just goes against the grain of the retool process, especially without salary retention.
It’s a good start for the Blues, on the other hand, who still have a lot of work to do amid a ticking clock.
Hurricanes get: F Nicolas Deslauriers Flyers get: Future considerations
It’s the second trade of the day for future considerations. The Flyers shed a little cap space by moving on from veteran pending UFA Nicolas Deslauriers, and opened up a roster spot for an up-and-comer. Carolina has a ton of cap to work with, so the team can afford Deslauriers’ $1.75 million hit. His toughness and physicality are trademarks of his game, and make sense for coach Rod Brind’Amour’s lineup. He is also a black hole for offense — on both ends of the ice. Philadelphia allowed 0.46 fewer expected goals against per 60 in his minutes, and kept the puck out of the net at even higher relative mark. So while he brings very little offensively, that defense should help on the fourth line.
Lightning give second-rounder for 40-year-old Perry
Lightning get: F Corey Perry Kings get: 2028 second-round pick
The Lightning have made their stance clear at past deadlines: draft picks are viewed primarily as trade assets while the team is in this window of contention. It helps Tampa Bay more to spend those picks on players who can help this team maximize its regular-season success, and a lack of draft capital is a future problem. That philosophy is all well and good, but it’s a little more questionable when a second-rounder is used to acquire 40-year-old Corey Perry, when management probably should have aimed a little higher. This team now only has one first-rounder, two second-rounder, and two third-rounders in the next three years to deal.
After Perry’s game steeply declined, he found a new way to be effective in a depth role. He’s pesky two-way winger who stirs things up, chips in clutch scoring and plays a net-front role. He is very seasoned in the playoffs, but also has had some poor luck with five losses in the Stanley Cup Final in the last six seasons. He also isn’t very fleet of foot. Still, he should bolster the fourth line, and allow Tampa Bay to roll out a 12-forward lineup a little more often.
Nick Foligno joins brother with Wild
Wild get: F Nick Foligno Blackhawks get: Future considerations
From a vibes perspective, what isn’t there to love? Nick Foligno will join his brother Marcus in Minnesota, as both brothers look to win their first Stanley Cup championship.
From an on-ice perspective, Nick Foligno still has some solid defense left in the tank to offer a fourth line. There are just two drawbacks here: Foligno’s lack of speed, which the Wild could use more of, and his full $4.5 million cap hit. The Blackhawks are out of retention slots, so Minnesota has to take on his full hit — and that’s why the Wild didn’t have to give up anything other than cap space to add Foligno. Minnesota could still use another top-six center, so management may have to get creative to keep the dollars and cents in check.
Brink should boost Wild’s middle six
Wild get: F Bobby Brink Flyers get: D David Jiricek
