The NHL trade deadline on Friday lived up to the hype, delivering numerous impactful trades right up to the last minute. The Eastern Conference saw significant activity, including the Boston Bruins’ surprising decision to trade away key players Brad Marchand and Brandon Carlo.
In the Western Conference, an intense competition unfolded as the Dallas Stars and Colorado Avalanche made major acquisitions to strengthen their teams for the playoff push. A notable move involved Mikko Rantanen, who began the season with the Avalanche but was traded to the Carolina Hurricanes in January. Just before the deadline, Rantanen was traded again, this time landing with the Stars, a key rival of Colorado.
These trades were just part of a busy Friday. Let’s delve into the biggest winners and losers from this year’s active trade deadline.
Winners
Dallas Stars
The biggest question before Friday was whether the Carolina Hurricanes would trade Mikko Rantanen. Ultimately, the Hurricanes decided to trade the 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. Prior to the trade, Rantanen also signed an eight-year, $96 million contract extension with Dallas.
The Stars were already considered Stanley Cup contenders before acquiring Rantanen. Now, with Rantanen joining their already strong forward group including Jason Robertson, Roope Hintz, Matt Duchene, and Wyatt Johnston, Dallas’s offensive power is significantly boosted. Rantanen is expected to play on the top line with Robertson and Hintz, creating one of the most formidable top lines in the league. Rantanen’s scoring ability is undeniable; he ranks fifth in NHL goals over the past five seasons, surpassed only by Auston Matthews, Leon Draisaitl, David Pastrnak, and Connor McDavid. Adding a player of Rantanen’s caliber makes the Stars clear winners at the deadline.
Colorado Avalanche
Hot on the heels of the Rantanen trade, the Avalanche made a significant move on Thursday night, acquiring star center Brock Nelson from the New York Islanders. 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 in exchange. The Avalanche continued their activity by also adding Charlie Coyle from the Boston Bruins for Casey Mittelstadt in a center swap.
The Avalanche have substantially improved their center position. Nelson is a skilled two-way player who can also contribute to the penalty kill. He represents an immediate upgrade over Mittelstadt as the second-line center. Mittelstadt had not quite lived up to expectations since being acquired from the Buffalo Sabres at the 2024 trade deadline. Coyle brings versatility, capable of playing both center and wing, and offers a physical presence that can enhance Colorado’s third line production.
Florida Panthers
In a surprising development, the Panthers reportedly acquired star winger Brad Marchand from the Boston Bruins, who decided to part with their captain, signaling a shift towards becoming sellers. This move is particularly notable given Marchand’s recent playoff history against the Panthers.
Marchand is currently sidelined with an upper-body injury, so his Panthers debut is delayed. However, upon his return, he will significantly strengthen Florida’s lineup, likely slotting into the second line. In the playoffs, Marchand’s ability to agitate opponents, similar to Matthew Tkachuk, will be a valuable asset.
The Panthers’ acquisitions of Seth Jones and Marchand clearly indicate their ambition to contend for consecutive Stanley Cups.
Losers
Buffalo Sabres
The Sabres are not in playoff contention this season, but they made notable changes to their roster 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 68-point season two years ago but has faced challenges since. Despite this, he possesses undeniable talent, and the return for him seems questionable. Norris, at 25, is entering his prime but has a history of injuries, including three shoulder surgeries. The Sabres also included a second-round pick in the deal. While Norris could become Buffalo’s top center if healthy, the trade carries considerable risk.
Carolina Hurricanes
The Hurricanes took a significant 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. Trading Rantanen to avoid losing him for nothing was a logical move, and they did receive a decent return. However, from a broader perspective, it’s a setback for the Hurricanes.
Last year, the Hurricanes went all-in by acquiring star forward Jake Guentzel. Despite this, they fell short of the Stanley Cup 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 elevate them to championship contention has fallen short.
