As the clock hit 3pm on Friday afternoon, chaos ensued as teams rushed to improve their teams or sell their assets for the future. We saw massive deals, from captains being traded to young stars getting a new change of scenery. With 27 deals done on March 7th and many more in the previous days, we now look at who the winners and losers of the NHL trade deadline were.

Biggest Winners

Dallas Stars (A+)

The city of Dallas finally had something to smile about for their sports teams when the Stars made the biggest trade of the day, trading for finish superstar Mikko Rantanen. Rantanen was sent over from Carolina in exchange for rising star Logan Stankoven, a 2026 1st round pick, a 2028 1st round pick, and a 2026 2nd and 3rd round pick.

The Hurricanes traded for Rantanen earlier in the year, sending center Martin Necas to the Avalanche. However, since then, the Hurricanes and Rantanen have been unable to agree on a contract extension. If he were to hit the free agent market on July 1st, Carolina would have had a repeat of last year when deadline acquisition Jake Guentzel decided to sign with the Tampa Bay Lightning. Many teams called to acquire the prolific goal scorer, including the Toronto Maple Leafs, but ultimately, Dallas has the most appealing package. Logan Stankoven, in his second season with the Stars, is averaging 0.5 points per game at the age of 22. Alongside these picks, Dallas didn’t have to sell off too many pieces for one of the most talented players in the league.

Over the past few years, the Stars have reached conference finals and cup finals but haven’t been able to get over the hump. By acquiring a big winger coming off of back-to-back 100-point seasons, they have positioned themselves with their best roster on paper in a while. They managed to get a deal done where Rantanen signed for $96 million over 8 years at a $12M AAV, making him the highest-paid winger in the league.  This came on the same day that the Star’s Wyatt Johnston signed a new contract extension, who also happens to have the same agent as Rantanen. This deal is less than the Avalanche and Canes offered Rantanen, likely due to the tax savings he will get playing in Texas. Overall, this trade worked well for both teams, but for Dallas, getting a recent cup winner who is a proven top 5 winger in the league could help them get that extra push.

Players & Picks Incoming:

• Mikko Rantanen

Players & Picks Outgoing:

• Logan Stankoven
• 2026 1^st round pick (Dallas)
• 2028 1^st round pick (Dallas)
• 2026 3^rd round pick (Dallas)
• 2027 3^rd round pick (Dallas)

Ottawa Senators (A-)

On Friday, the Ottawa Senators made 2 big moves to solidify their forward group as they attempt to make their first playoff run since 2017 when they lost in the Eastern Conference Finals in game 7 to that year’s Stanley Cup-winning Pittsburgh Penguins.

The first big trade saw the Senators get Dylan Cozens, Dennis Gilbert, and Buffalo’s 2026 2nd-round pick in exchange for Josh Norris and Jacob Bernard-Docker. This trade made history as the first time on deadline day that 2 players with cap hits over $7M were traded for each other. The Sens were able to move off Norris, who has had significant injury struggles for the team, having only played an average of 45 games a season over the prior 4 seasons. Cozens, who has struggled these past 2 years compared to his 68-point season in 2022-23, is still very young at 24 years old and could benefit from the change of scenery. We have often seen young forwards struggling in Buffalo flourish in a new environment, such as Stanley Cup winners Jack Eichel and Sam Reinhart. Gilbert and Bernard-Docker don’t make a massive difference, but the Sens have needed a left-shot defenceman to help their 3^rd pairing. The icing on the cake was the 2nd round pick that the Sens received as an extra piece to make the deal even better.

The other move Ottawa made was getting Fabian Zetterlund from San Jose. Zetterlund, who is slightly above half a point per game, has shown lots of potential even on a last-place Sharks team, where Zetterlund is still a positive +/- player. Ottawa had to give up some depth forwards and a pick to get this asset, which is a very reasonable price for this deadline’s sellers’ market. This bolsters their top 6, which will be needed to compete with a highly competitive Atlantic division.

Players & Picks Incoming:

• Dylan Cozens (C)
• Fabian Zetterlund (LW)
• Dennis Gilbert (D)
• Tristen Robbins (C)
• 2026 2^nd round pick (Buffalo)
• 2025 4^th round pick (San Jose)

Players & Picks Outgoing:

• Josh Norris (C)
• Jacob Bernard-Docker (D)
• Noah Gregor (C)
• Zach Ostapchuk (LW)
• 2025 2^nd round pick (Ottawa)

New York Islanders (A-)

The Islanders were a few points out of a playoff spot coming into the day, so they decided to join the hot seller’s market. Brock Nelson was known to be a highly sought-after player due to the need for a veteran player on many teams down the middle. Nelson was seen as an expensive rental because his $6M cap hit contract expires at the end of the season.

The team that got the deal done was the Colorado Avalanche, who sent a very generous package back to the Isles. This package included Colorado’s 2026 1st round pick, their 2028 3rd round pick and prospect Callum Ritchie. Drafted 27th overall by the Avalanche in 2023, Ritchie has had an impressive junior career with the Oshawa Generals, including 30 points in 21 games last year in their playoff run. He also competed this past January for Team Canada at the World Junior Hockey Championships, putting up 2 points in his 5 games played.

For the Islanders, Nelson, at 33 years old, was not part of their future and would likely test the market this offseason. It’s great value for the Islanders to get a solid 20-year-old prospect and another first-round selection for a veteran who would soon walk for nothing. However, Nelson is still an excellent addition for a playoff contender, putting up 34 goals or more in his past three seasons alongside his veteran leadership.

Players & Picks Incoming:

• Calum Ritchie (C)
• Adam Beckman (LW)
• 2026 1^st round pick (Colorado)
• 2028 3^rd round pick (Colorado)
• Future Considerations

Players & Picks Outgoing:

• Brock Nelson (C)
• William Dufour (RW)
• Dennis Cholowski (D)

Honorable Mentions

• Florida Panthers (A-)
• Pittsburgh Penguins (B+)
• Carolina Hurricanes (B+)

Biggest Losers:

Edmonton Oilers (C-)

After the 4 Nations Tournament, the Oilers had a disappointing 2-5 record leading up to the trade deadline. There was a lot of pressure for the team to make a big deal to find more offensive firepower, especially to join a line with league-leading point scorer Lion Draisaitl. Free agent signings Jeff Skinner and Viktor Arvidsson have been underwhelming for the Oilers, and after losing key forwards in the offseason, including Dylan Holloway, the team needs other weapons to support Draisaitl and McDavid.

In the trade deadline period, the Oilers traded for bottom 6 forwards Trent Frederic and Max Jones from the Bruins, who are not known for their offensive skills. The Oilers gave up mid-level draft picks for the two, but it doesn’t help their need for goals. The big move they made on deadline day was acquiring offensive defenceman Jake Walman in exchange for a first-round pick. This is consistent with the high price for players this deadline, but this didn’t address a key need for the Oilers. Wallman is over half a point per game this season for the Sharks and is known for his flashy plays and celebrations, but he won’t help much with their average goals against per game and near the bottom in the league penalty kill.

The Oilers saw other Western Conference leaders build up depth and add stars while they missed out on the forwards available on the trade board. Alongside the news that forward Evander Kane will miss the remainder of the season, the Oilers must rely on their depth pieces to step up for them in the playoffs.

Players & Picks Incoming:

• Jake Walman (D)
• Trent Frederic (C)
• Max Jones (LW)
• Petr Hauser (RW)

Players & Picks Outgoing:

• Carl Berglund (C)
• Max Wanner (D)
• Shane Lachance (LW)
• 2026 1^st round pick (Edmonton)
• 2025 2^nd round pick (St Louis)
• 2026 4^th round pick (Edmonton)

Minnesota Wild (C)

On Friday, Wild GM Bill Guerin had a quiet day, making only 1 trade that had a minimal impact on their organization. All day, they watched as division rivals stacked up their rosters and added quality depth players. To compete with the NHL’s leading Jets, the Dallas Stars’ new addition Mikko Rantanen and top-heavy Colorado Avalanche, who solidified their center group, it will be more challenging than ever. Prior to the deadline, they made a splash by acquiring Gustav Nyquist from Nashville, who is underperforming on a disappointing Predators team. After coming off the best season of his career in 2023-24, he has seen his role dimmish due to the team signing many big free agent names such as Steven Stamkos and Jonathan Marchessault. However, the hefty price they paid for a veteran forward with 21 points in 57 games isn’t a significant addition compared to the rest of the central division.

The trade with the Boston Bruins also saw the Wild acquiring 6’6” forward Justin Brazeau in exchange for a prospect and a 2026 late-round pick. Brazeau is a bottom-six forward for the Wild to add size to their injured offensive group.

The Wild are still in the playoff hunt and currently sit in a Wildcard spot in the West. With star player Kirill Kaprizov hopeful to return before the start of the first round, the team needs to ensure it can keep its playoff spot.

Players & Picks Incoming:

• Gustav Nyquist (C)
• Justin Brazeau (RW)
• Future Considerations

Players & Picks Outgoing:

• Reese Johnson (C)
• Marat Khusnutdinov (C)
• Jakub Lauko (C)
• 2026 2^nd Round pick (Minnesota)
• 2026 6^th round pick (Boston)

Buffalo Sabres (D+)

Buffalo’s big trade of the day was acquiring Josh Norris for Dylan Cozens. As mentioned, when talking about how the Sens were winners of the day, the questions around Norris’ health, Cozens’ potential, and the additional 2nd round pick, which will likely be a high pick due to Buffalo’s recent season performances, are a high price for the former Senators forward.

The Sabres are tied for the longest postseason drought in the big North American sports leagues at 14 years, and this lateral move doesn’t help them get any closer. Before the deadline, they made it clear they didn’t want draft picks for Cozens and wanted NHL-ready players, which they got in Norris. But getting a player who consistently misses time for injuries isn’t great for a Buffalo team that struggles to play a consistent game.

As we have seen with other younger Buffalo stars who get disgruntled, will Norris eventually want out and continue the cycle? This trade doesn’t do much to help the team and feels like just another trade of one of their former high-profile draft picks. A big issue the team also dealt with was key players having the destination on their no-move clause list. The real change needs to be in the culture in Buffalo, and it can’t be fixed through the draft and trades.

Players & Picks Incoming:

• Josh Norris (C)
• Erik Brannstrom (D)
• Jacob Bernard-Docker (D)
• 2026 4^th round pick (Edmonton)

Players & Picks Outgoing:

• Dylan Cozens (C)
• Dennis Gilbert (D)
• Nicolas Aube-Kubel (RW)
• Henri Jokiharju (D)
• 2026 2^nd round pick (Buffalo)

Honorable Mentions

• Los Angeles Kings (C)
• Washington Capitals (C+)
• The Pacific and Metropolitan Divisions (D-)

Final Thoughts

No matter what team you support, watching the trades unfold was a wild day. Some teams went all in on their near future for rentals that might leave in free agency, others took advantage of the bullish seller’s market, and many watched as the chaos happened. After the deadline, the huge acquisition of Mikko Rantanen for the Dallas Stars and Brad Marchand for the Florida Panthers currently have them as projected Stanley Cup Finals favourites. Who do you think won the deadline, and what would you have done if you were the GM of your team?