After weeks of anticipation, the NHL trade deadline on Friday proved to be exciting. Several significant trades occurred as the deadline approached, with the Boston Bruins notably trading away key players Brad Marchand and Brandon Carlo. The Eastern Conference was not the only source of action.
In the Western Conference, both the Dallas Stars and Colorado Avalanche made substantial acquisitions to strengthen their teams for the upcoming playoffs. A key move involved Mikko Rantanen, who began the season with the Avalanche but was traded to the Carolina Hurricanes in January. Rantanen was traded again just before the deadline, this time landing with the Stars, a major rival of Colorado.
These trades are just part of the flurry of activity on Friday. Let’s examine the biggest winners and losers from this busy trade deadline day.
Winners
Dallas Stars
Prior to Friday, a major question in the NHL was whether the Carolina Hurricanes would trade Mikko Rantanen. The Hurricanes ultimately traded the experienced 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 signed an eight-year, $96 million contract extension with Dallas before the trade was finalized.
The Stars were already considered Stanley Cup contenders before acquiring Rantanen. Now, Dallas adds Rantanen to their already strong forward group, which includes Jason Robertson, Roope Hintz, Matt Duchene, and Wyatt Johnston. Rantanen is expected to play on the top line with Robertson and Hintz. It’s difficult to imagine a more talented top line in the league, especially with Dallas adding a scorer of Rantanen’s caliber. Rantanen ranks fifth in NHL goals over the past five seasons, surpassed only by Auston Matthews, Leon Draisaitl, David Pastrnak, and Connor McDavid. Acquiring a top player like Rantanen makes the Stars clear winners.
Colorado Avalanche
Closely following the Rantanen trade, the Avalanche acquired star center Brock Nelson from the New York Islanders on Thursday night. In exchange, 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 for Casey Mittelstadt in a center swap.
The Avalanche significantly 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 been somewhat underwhelming since being acquired from the Buffalo Sabres at the 2024 trade deadline. Meanwhile, Coyle provides versatility, capable of playing both center and wing. While not a purely offensive player, Coyle brings a physical presence that can enhance Colorado’s third line production.
Florida Panthers
In a surprising move, the Panthers reportedly acquired star winger Brad Marchand in a trade with the Boston Bruins, who decided to part with their captain. The Bruins appear to be shifting to a seller’s role, with other players also expected to leave. This is particularly notable given Marchand’s recent playoff history against the Panthers in the Stanley Cup Playoffs.
It’s important to note that Marchand is currently injured and will not immediately join the Panthers lineup. However, upon his return, he will significantly boost Florida’s team, likely slotting into the second line. When the playoffs begin, Marchand’s style of play, similar to Matthew Tkachuk, can be effective at getting under the skin of opponents.
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 did make 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 his performance has declined since. Despite this, he is still a talented player, and the Sabres’ return for him is questionable. Norris, at 25, is entering his prime, but he has a history of injuries, including multiple shoulder surgeries. The Sabres also included a second-round pick in the trade with Ottawa. 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. Trading Rantanen became a sensible move to avoid losing him for nothing. Although they received a decent return, it is still a setback from a broader perspective.
Last year, the Hurricanes aimed for a Stanley Cup run by acquiring star forward Jake Guentzel. Carolina ultimately fell short, and Guentzel later joined the Tampa Bay Lightning. 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 the team has not worked out as planned.
