The NHL trade deadline on Friday was full of action, with several big trades happening as the deadline approached. The Eastern Conference saw some surprising moves, including the Boston Bruins trading away key players like Brad Marchand and Brandon Carlo.
In the Western Conference, the Dallas Stars and Colorado Avalanche were very active, making significant additions to their teams for the upcoming playoffs. One notable trade 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 to the Stars, a major rival of Colorado.
These trades were just part of a busy day. Let’s examine the biggest winners and losers from this year’s NHL trade deadline.
Winners
Dallas Stars
Before Friday, everyone wondered if the Carolina Hurricanes would trade Mikko Rantanen. Ultimately, the Hurricanes traded the experienced player to the Stars. In return, Carolina received forward Logan Stankoven, first-round picks in 2026 and 2027, and third-round picks in 2026 and 2027. Rantanen also signed an eight-year, $96 million contract extension with Dallas before the trade was finalized.
The Stars were already considered Stanley Cup contenders. Now, with Rantanen joining a strong forward group including Jason Robertson, Roope Hintz, Matt Duchene, and Wyatt Johnston, they are even stronger. Rantanen is expected to play on the top line with Robertson and Hintz, forming a very talented top line. Rantanen is a top goal scorer, ranking fifth in the NHL in goals over the last five seasons, only behind Auston Matthews, Leon Draisaitl, David Pastrnak, and Connor McDavid. Adding a player of Rantanen’s caliber makes the Stars big winners.
Colorado Avalanche
Close behind the Stars are the Avalanche, who acquired 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 2026 or 2027, and a conditional third-round pick in 2028. The Avalanche also traded for Charlie Coyle from the Boston Bruins, exchanging him for Casey Mittelstadt, in a center swap.
The Avalanche significantly improved their center position. Nelson is a skilled two-way player who can also help on the penalty kill. He is an upgrade over Mittelstadt as the second-line center. Mittelstadt had been somewhat underwhelming since joining the Avalanche from the Buffalo Sabres at the 2024 trade deadline. Coyle provides versatility, capable of playing both center and wing, and adds physical presence to Colorado’s third line.
Florida Panthers
In a surprising move, the Panthers traded for star winger Brad Marchand from the Boston Bruins, who decided to trade their captain. This indicates the Bruins are now sellers, with more players expected to leave. This trade is unexpected given Marchand’s recent playoff history against the Panthers.
Marchand is currently injured and will be out for a few weeks, so he won’t immediately join the Panthers. When he returns, he will be a major addition to Florida’s lineup, likely playing on the second line. In the playoffs, Marchand brings a valuable ability to irritate opponents, similar to Matthew Tkachuk.
The Panthers are clearly aiming for back-to-back Stanley Cups, as shown by acquiring both Seth Jones and Marchand.
Losers
Buffalo Sabres
The Sabres are not in playoff contention this season, but they still made 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 his performance has declined since. Despite this, he is a talented player, and the Sabres’ return for him is questionable. Norris is a younger player at 25 and entering his prime, but he has a history of injuries, including multiple shoulder surgeries. The Sabres also gave Ottawa a second-round pick in this deal. If Norris stays healthy, he could be Buffalo’s top center, but it’s a risky move.
Carolina Hurricanes
The Hurricanes took a gamble when they traded for Mikko Rantanen in January. As the trade deadline approached, it became clear Rantanen was unlikely to sign a contract extension with Carolina. Trading Rantanen made sense to avoid losing him for nothing. While they received good assets in return, it’s still disappointing from a long-term perspective.
Last year, the Hurricanes made a big move by acquiring Jake Guentzel at the deadline. However, they didn’t win the Stanley Cup, and Guentzel later joined the Tampa Bay Lightning. This season, they traded Martin Necas to get Rantanen. For the second year in a row, the Hurricanes’ big trade deadline acquisition of a star forward didn’t work out as hoped.
