Trade season grades for all 32 NHL teams: Seven A’s,

Ryan S. Clark

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Ryan S. Clark

ESPN NHL reporter
Kristen Shilton

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Kristen Shilton

ESPN NHL reporter

Mar 10, 2025, 07:00 AM ET

The final week of the 2024-25 NHL trade season included a number of blockbusters, including Mikko Rantanen to the Dallas Stars, Brock Nelson to the Colorado Avalanche and Brad Marchand to the Florida Panthers. Meanwhile, a flurry of first-round picks were moved, aiding rebuilding (or retooling) teams as they look to the future.

Which teams did the best in setting themselves up in either direction? Using the first Rantanen trade on Jan. 25 as our starting point for trade season, here are grades for all 32 general managers, along with analysis on how those deals will affect the Stanley Cup playoffs, the draft, free agency and beyond.

Note: Teams are listed alphabetically by letter grade. Ryan S. Clark graded the Pacific and Central Division teams, and Kristen Shilton graded the Metropolitan and Atlantic Division teams. Salary and cap figures are per PuckPedia.

Find your team:
ANA | ARI | BOS | BUF
CGY | CAR | CHI | COL
CBJ | DAL | DET | EDM
FLA | LA | MIN | MTL
NSH | NJ | NYI | NYR
OTT | PHI | PIT | SJ
SEA | STL | TB | TOR
VAN | VGS | WSH | WPG

A grades

Key players added: Charlie Coyle, Jack Drury, Erik Johnson, Ryan Lindgren, Martin Necas, Brock Nelson, Jimmy Vesey
Key players lost: Calvin de Haan, Casey Mittelstadt, Juuso Parssinen, Mikko Rantanen

The Avs transformed from a team that looked like a wild-card entry to one that could win the Stanley Cup. Their most jarring move this trade season was dealing Rantanen in January. But the return was a top-line winger in Necas and a bottom-six center in Drury.

It was the first in a series of moves in which the Avs addressed areas of concern, which was also the case in getting Lindgren or making up for previous missteps by adding Nelson and then flipping Mittlestadt for Coyle to give them what might be the strongest center dynamic in the NHL.

Key players added: Cody Ceci, Mikael Granlund, Mikko Rantanen
Key players lost: Logan Stankoven

The Stars’ approach to this year’s deadline was an adjustment of their philosophies. Dallas built its core using the draft, and had traditionally been hesitant to part with draft capital. That strategy has allowed the Stars to reach consecutive Western Conference finals.

But a more aggressive approach could see them win the Cup this season while remaining a long-term title contender. They parted with a 2025 first-round pick to acquire Granlund and Ceci, then dealt a pair of first-round picks as part of the trade package for Rantanen, who then signed an eight-year extension.

Key players added: Seth Jones, Brad Marchand, Vitek Vanecek
Key players lost: Spencer Knight

Leave it to the league’s reigning Stanley Cup champions to make one of the first — and last — splashy deals of the deadline period.

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It started with acquiring Jones from Chicago to boost the back end in a significant way. Florida’s defense core was strong enough already that Jones could slide onto its second pairing and elevate the group as a whole. Plus, GM Bill Zito acquired Jones on a more reasonable $7 million cap hit because of salary retention, which was tidy work.

Zito wasn’t done there. Florida shocked the hockey world by grabbing Marchand for a second-round pick (that’s all?!) in the final 30 minutes of deadline day. Now the Panthers have more sandpaper — and scoring touch — to complement the likes of Sam Bennett and Matthew Tkachuk (who has famously battled with Marchand in the past).

The Panthers didn’t need to add much to be considered top contenders for another Cup run, and now that they’ve made the additions of Jones and Marchand, they’ve jumped into a tie for the shortest odds to do so.

Key players added: Fraser Minten
Key players lost: Justin Brazeau, Brandon Carlo, Charlie Coyle, Brad Marchand, Trent Frederic

Did you hear that? It’s the sound of Boston’s core blowing up. GM Don Sweeney didn’t mess around at the deadline, altering the Bruins as we knew them and opening the door on a still-unknown next chapter. In that sense, Sweeney made all the right moves.

It’s never easy to trade a captain, but Marchand — a pending UFA — was at an impasse with management on terms for a new deal. Now he’ll have a chance to chase another Cup with Florida.

Carlo and Coyle were two other viable, veteran assets Sweeney was able to flip to Toronto and Colorado, respectively, for first-round picks, further setting the Bruins up for success in the future. Minten — a 20-year-old center with enormous potential — is also an excellent addition for Boston, given its rather bare cupboard of prospects.

Sweeney had to decide if the Bruins were holding out for one more run or willing to turn the page. He chose the latter and it could be the best thing for Boston.

Key players added: Vincent Desharnais
Key players lost: Cody Ceci, Mikael Granlund, Luke Kunin, Nico Sturm, Vitek Vanecek, Jake Walman, Fabian Zetterlund

Adding one first-round pick at the deadline would be a victory for any franchise in a rebuild. The Sharks got two of them.

Obtaining the draft capital necessary to have multiple picks in multiple rounds across two draft cycles would also be beneficial to a team looking to build a promising future. Yes, the Sharks did that too.

Navigating the deadline with all three salary retention slots filled led some to wonder if the Sharks would be able add more draft capital. GM Mike Grier and his group did it; they’ll have two first-round picks in 2025 and again in 2026, and multiple picks in both the second and fourth round in both 2025 and 2026.

Key players added: Michael Eyssimont
Key players lost: Oliver Bjorkstrand, Yanni Gourde, Daniel Sprong, Brandon Tanev

Barring a miracle, the Kraken will miss the playoffs in three of their first four seasons. That led to the Kraken adding draft capital this deadline, with the hopes they would be able to snag a first-round pick.

The deal they struck with the Tampa Bay Lightning for Bjorkstrand and Gourde returned a pair of first-rounds picks. They also added a 2027 second-round pick in exchange for Tanev.

Though the victories on the ice haven’t occurred consistently this season, GM Ron Francis and his front office personnel did quite well to stock for the future.

Key players added: Brandon Carlo, Scott Laughton
Key players lost: Connor Dewar, Nikita Grebenkin, Fraser Minten, Conor Timmins

Toronto finally did it. After too many seasons being cautious at the deadline, the Leafs pushed their chips in making two significant additions. Carlo is the hulking, stay-at-home right-shot defenseman the Leafs have been lacking on their back end — especially in the postseason — and Laughton is a physical, two-way center that elevates their third line in a way Toronto’s been begging for since the preseason.

The additions will allow Craig Berube to keep his current skaters — namely Oliver Ekman-Larsson on the back end and Max Domi up front — in their natural positions. And bringing in Carlo and Laughton shows that GM Brad Treliving sees the potential in this team to make a strong push this postseason (or else). Having to give up a handful of young players in the process (not to mention a pair of first-round picks) isn’t desirable but, like the Lightning, Toronto is in win-now mode and can’t be afraid to make the appropriate sacrifices to see this process through.

And by that, we mean taking advantage of the club’s vaunted core before it could possibly see both Mitch Marner and John Tavares out in the offseason. It’s now or never for Toronto, and no one can say that the Leafs front office didn’t leave it all out there.

B grades

Key players added: Spencer Knight, Joe Veleno
Key players lost: Taylor Hall, Seth Jones, Petr Mrazek, Craig Smith

There were other items of consequence, but the Seth Jones trade had the most impact.

From the moment Jones said he wanted to be traded, the focus centered around if the Blackhawks could find a deal that worked for all involved. The one they struck with the Panthers added their goalie of the future in Spencer Knight, plus a 2026 first-round pick. Moving on from a top-pairing defenseman like Jones allowed them to receive a player who works in the short-and long-term, and they’ll now have multiple first-rounders in 2025 and 2026 as part of a trend that started in 2022.

Key players added: Nicolas Aube-Kubel, Will Borgen, Calvin de Haan, J.T. Miller, Carson Soucy
Key players lost: Erik Brannstrom, Filip Chytil, Ryan Lindgren, Jimmy Vesey, Reilly Smith

The Rangers have been through serious turbulence this season. Maybe they’ve found smoother skies. GM Chris Drury started dealing back in December, when he moved Jacob Trouba and Kaapo Kakko.

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More recently it was re-acquiring Miller to give New York hope of a scoring punch they’d been lacking. That Drury took care of that transaction sooner than later — to give Miller ample time to acclimate — was smart business.

Drury’s other goal was to get something in return for the Rangers’ pending UFAs, and he was able to move out all of Lindgren, Vesey and Smith for a solid return that includes promising prospects like Brendan Brisson and four draft picks.

New York is no lock to make the playoffs this season. Drury’s approach to the deadline mirrors that reality. He did enough to show the Rangers he’s confident they can secure a postseason spot, while also prioritizing deals that set New York up to wheel and deal down the road.

Key players added: Dylan Cozens, Fabian Zetterlund
Key players lost: Jacob Bernard-Docker, Noah Gregor, Josh Norris

There’s something to be said for a slow and steady approach. Ottawa has done that over the last several seasons, and now the Senators are primed to reach the playoffs for the first time since 2017.

GM Steve Staois wants to see his team get there, which is why he swapped injury-prone center Norris for the snake-bit Cozens. The latter is still just 23 years old, and signed for five more years. If Staois is right, and a change of scenery can turn the former 30-plus goal scorer into another key piece of the Senators’ young core, then this will be a deadline to circle for Ottawa as when the tides truly started to turn in their favor.

Zetterlund was a strong pickup as well, with potential to be a perennial 20-plus goal scorer who can fill in throughout the Senators lineup. Ottawa has blossomed this season under coach Travis Green and despite years of turmoil trying to establish an identity, it feels like the Senators are finally getting there. These additions serve to make Ottawa stronger in the short and long term, and Staois made them without mortgaging the Senators future.

Key players added: Oliver Bjorkstrand, Yanni Gourde
Key players lost: None

The Lightning are perennial contenders for several reasons, and it starts with smart deadline moves. GM Julien BriseBois went all-in again to grab Bjorkstrand and Gourde, two depth guys that Tampa Bay will need for another playoff run. And who are we to doubt BriseBois’ tactics?

Yes, the Lightning had to give up more first-round draft capital (they don’t have a pick there now in 2025, 2026 or 2027) but that’s fine by them. Tampa Bay’s focus is winning now, and that’s reflected in how BriseBois once again approached this deadline.

Gourde has been in the Bolts’ system before and that familiarity is invaluable. Bjorkstrand is a regular 20-goal scorer that Jon Cooper can slot in anywhere. Tampa Bay knows from (ample) past experience it’s not the superstars who always make a difference in the postseason (although they certainly help). It’s the sum of all parts that have taken them over the top before.

Key players added: Anthony Beauvillier
Key players lost: None

Washington required one thing at the deadline, and it was scoring depth. GM Chris Patrick addressed that by bringing on Beauvillier from Pittsburgh, where the 27-year-old had recently been skating alongside Sidney Crosby. He’ll be stronger in a bottom-six role for Washington, and that’s where the Capitals had to shore up as they optimistically prepare for a long spring run through the postseason.

Beauvillier didn’t come cheap — Patrick parted with a second-round pick in the process — but this was no time for Washington to hang back. Better to have improved via an “overpriced” move then regret an early exit come playoffs.

Patrick also kept the Capitals intact otherwise; preserving that chemistry is essential when a team shows Washington’s level of consistency. It might appear Patrick did the bare minimum, but even if that’s true, it gives the Capitals just enough oomph to be satisfying. And remember, the Caps will also likely add top prospect Ryan Leonard to the mix once his collegiate season is over.

Key players added: Ville Husso, Oliver Kylington
Key players lost: Brian Dumoulin

There’s the 2025 second-round pick and prospect forward Herman Traff that moving on from Dumoulin brought back from Jersey. There was also the “trade” for Husso (acquired for future considerations), who gave them cover for the injured John Gibson.

But the reality of this deadline was that the Ducks didn’t really need to do much unless there was a deal that was too tempting to ignore. They came into the deadline with 61 points through 62 games. That point total is more than what they’ve had the last two seasons, and has them on a pace to finish with more than 80 points for the first time since the 2018-19 campaign.

While the Ducks were among those teams within eight points of a wild-card spot on deadline day, there wasn’t a great need for them to add players in an attempt to make the playoffs. But with the way they’re trending, that could be a possibility in a year’s time.

Key players added: Joel Farabee, Morgan Frost
Key players lost: Andrei Kuzmenko, Jacob Pelletier

The late January trade with the Flyers that saw the Flames add Farabee and Frost would eventually be the only business Calgary did ahead of the deadline. Cap space and draft capital were in great supply, but Flames GM Craig Conroy said hockey trades like the one with the Flyers was the objective.

Even though another one of those trades didn’t happen, the Flames still remained in the hunt for a Western Conference wild-card spot. But did they miss an opportunity to strike a deal for veteran help in exchange for picks or prospects? The Flames are dead last in goals per game this season (2.56), a detail that could play a crucial role in their bid for their first playoff berth since the 2021-22 campaign.

Key players added: Taylor Hall, Logan Stankoven
Key players lost: Jack Drury, Martin Necas, Mikko Rantanen

Carolina went from one of the league’s biggest adders to a notorious dealer in just a few short weeks. That’s how quickly circumstances can change. The Hurricanes acquired Rantanen in a blockbuster deal that bolstered their status as a top Cup contender. The problem was Rantanen wouldn’t commit long term, and Carolina couldn’t afford another Jake Guentzel situation, where their prized deadline addition walks for nothing.

So the Hurricanes flipped Rantanen to Dallas, only because he was willing to sign an extension with them, and that lengthy process admittedly limited what GM Eric Tulsky could do in the interim. And so, Carolina’s return for Rantanen — headlined by Stankoven and a pair of first-round picks they failed to swap for another player before time ran out — is all the work Tulsky got over the line.

Stankoven is a fine young player, who should fit in well with the Hurricanes’ core of Seth Jarvis, Jesperi Kotkaniemi & Co. But is he going to drive them towards winning a championship right now? No. And even if Rantanen started off slowly in Carolina — with two goals and six points in 13 games — his potential impact on a playoff run could have been outstanding given his past playoff scoring success. As it is, Carolina will never know, one way or another, what might have been.

Key players added: Christian Fischer, Luke Kunin
Key players lost: None

The Blue Jackets are having a special season. That makes GM Don Waddell’s decision — or inability — to do more at the deadline a bit deflating. It also aligns though with what Waddell previously stated is Columbus’ goal: to forgo adding high-priced rentals and instead using their assets on offseason signings.

For the time being, it’s on the Blue Jackets (mostly) as they are to sink or swim. And the way Waddell spoke about his pride in Columbus worming its way into the postseason field despite a litany of injuries to key skaters (including Sean Monahan and Boone Jenner) was touching. There’s clear belief that this group can succeed.

Filling in around the edges with Kunin — a stout bottom-six forward — and Fischer — a waiver wire pickup — doesn’t hurt the Blue Jackets. It’s addition without subtraction, and if that was Waddell’s optimal outcome to the deadline then he succeeded. Consider Columbus to be playing the long game here.

Key players added: Trent Frederic, Max Jones, Jake Walman
Key players lost: None

Once again, the Oilers needed to create financial flexibility entering the deadline — and losing seven of their last 11 games prior to March 7 created urgency to do something. That’s why they had to add around the edges by taking on players with manageable cap hits.

They were able to add Frederic with the Bruins and Devils combining to retaining salary. Adding do-everything defenseman Walman was the Oilers’ most notable move, but it was also came with a caveat; the Sharks had all of their retention slots filled, which meant the Oilers had to utilize the LTIR space from Evander Kane’s contract, while moving Frederic to IR to take on the full freight of Walman’s cap hit. Still, the players added should help once the playoffs begin.

Key players added: Justin Brazeau, Gustav Nyquist
Key players lost: Jakub Lauko, Marat Khusnutdinov

Only four more months stand between the Wild and the major reduction in the Zach Parise and Ryan Suter buyouts that will finally give them much-needed cap space. It’s why the Wild had to once again try to find ways to add scoring help at a team-friendly price.

Acquiring Nyquist gave them a top-line winger to bolster a top six that’s currently missing Joel Eriksson Ek and Kirill Kaprizov due to injuries. Getting Brazeau allowed them to add a sizable yet productive winger to the bottom six. The belief for the Wild is that those moves can help them remain in the race for one of the three divisional playoff entries in an already competitive Central that just got even more ruthless given what Dallas and Colorado did.

Key players added: Calum Ritchie
Key players lost: Brock Nelson

Well, the Islanders actually did something before the deadline — a true rarity (it seems) from GM Lou Lamoriello. Granted, Lamoriello did try signing Nelson — a pending UFA — before moving him to Colorado. The return on Nelson — highlighted by a first-round draft choice and promising center prospect in Ritchie — was solid, and gives Lamoriello some assets to improve the Islanders significantly over the next few months (if he so chooses).

Of course, Lamoriello stopped at just the one transaction, and that’s where the Islanders lost grade points. He could have collected more capital by selling off other veterans like Jean-Gabriel Pageau. New York is (barely) in the playoff hunt, but there’s a short chance of any long spring ahead. The market showed that teams at the top wanted to add. Lamoriello may have missed out by being too inactive here.

Key players added: Nikita Grebenkin
Key players lost: Erik Johnson, Andrei Kuzmenko, Scott Laughton

It’s not like the Flyers were destined to be buyers at the deadline, and there’s no question that Philadelphia is worse off on the ice at the moment. Laughton was an integral piece of the franchise and its culture for 13 years, and it’s tough to part with a player like that at the best of times. GM Danny Briere did right by the Flyers though, getting a first-round pick and intriguing prospect Grebenkin back from Toronto for Laughton. He also fished a third-round pick out of Los Angeles for Kuzmenko.

That’s all solid stuff. It just doesn’t do much to help the Flyers right now. And Briere didn’t ultimately go all-in on moving the team’s top assets, either — Rasmus Ristolainen remains in the fold, despite drawing interest on the market. Philadelphia simply appears stuck as ever in its (long) rebuild, with a half-in, half-out sort of mentality. Briere is being cautious, perhaps a little too much so. We’ll see what the offseason brings for these Flyers.

Key players added: Brandon Saad, Reilly Smith
Key players lost: Brendan Brisson

Compared to what they’ve done in the past, this deadline was a whisper.

Nevertheless, the Golden Knights still made intriguing moves when they signed Saad after St. Louis released him, and brought back Smith, an original Golden Misfit.

How they did it goes back to their perennial challenge: Navigating a tight window of cap space. Saad had his contract terminated by the Blues, and the Knights signed him to a prorated one-year deal worth $1.5 million. Smith’s return was made possible by the Rangers retaining 50% to reduce his cap hit to $1.88 million — a welcomed cost for a team with a little more than $500,000 in deadline cap space.

Key players added: Luke Schenn, Brandon Tanev
Key players lost: None

The Jets didn’t have any glaring needs headed into the deadline, third in goals per game (3.52) and first in goals against per game (2.30). While they could have made bigger moves, it didn’t appear necessary.

Schenn gives the Jets a veteran defenseman with two Stanley Cups, and he’s under contract for another season. The decision to bring back Tanev, who started his career with the Jets, further strengthened a bottom-six forward group that’s been instrumental in the team’s regular-season success.

Again, these type of depth moves pale in comparison to what other Central Division powers in Colorado and Dallas did; are they enough to bolster the Jets for a multi-round playoff run?

C grades

Key players added: Connor Dewar, Tommy Novak, Conor Timmins
Key players lost: Anthony Beauvillier, Michael Bunting, Cody Glass

The fact that Pittsburgh is boasting about having the most draft choices in the first three rounds of the next three drafts tells you plenty about the priorities of GM Kyle Dubas and his front office. It’s all about the future in Pittsburgh.

D grades

Key players added: Petr Mrazek, Craig Smith
Key players lost: Joe Veleno

The Red Wings may as well have done nothing. Because as trades go, brokering with Chicago to get Mrazek — who already did one tour with Detroit from 2013-18 — and veteran center Smith in exchange for Veleno — an underperforming 25-year-old pivot — does nothing to improve Detroit’s current state.

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The Red Wings are battling for an Eastern Conference wild-card spot that they have increasingly little chance of grabbing given how teams around them improved over the last few weeks. GM Steve Yzerman isn’t one to make moves out of desperation, but this level of inactivity suggests he doesn’t believe this group has what it takes to beat out the competition for a playoff slot. And that’s not exactly a confidence booster going into the home stretch of this season.

The Red Wings look like they’re headed for another mediocre finish outside the playoffs — a result they’ve authored since 2016 (and counting).

Key players added: None
Key players lost: None

The Canadiens’ true grade here should be a DNP: Did Not Participate.

Montreal held onto all its potential trade assets — including David Savard, Joel Armia and Christian Dvorak — and signed Jake Evans to a four-year extension instead of moving him to one of several teams interested in the center’s services. So, the Canadiens are no better (but … no worse?) for wear. That’s the theory, anyway.

GM Kent Hughes justified his lack of action by saying it was a “reward” for Montreal putting itself in the playoff race (the Canadiens are in a five-team hunt for two Eastern Conference wild-card slots). That’s a fine sentiment. It would be more confidence-inducing though if Hughes had made a move to boost Montreal’s push into the postseason picture. Only time will tell if Hughes was right to believe in his team’s core as it is, or if increasing their depth was the answer.

Key players added: Brian Dumoulin, Cody Glass, Daniel Sprong
Key players lost: None

The Devils did a poor job of actually addressing their needs here.

Jack Hughes is out for the season, and that creates a gaping hole in New Jersey’s offense — which is already middle-of-the-pack, producing fewer than three goals per game. The Devils had to restock at center, and GM Tom Fitzgerald targeted … Glass. He has four goals and 15 points in 51 games this season; his career best was 35 in 72 games in 2022-23. That’s not going to solve New Jersey’s scoring issues or make the Devils more intimidating down the middle.

Then there’s the questions on defense, with Dougie Hamilton and Jonas Siegenthaler out with injuries. Dumoulin is an aging veteran blueliner who isn’t going to add much offensively (like Hamilton has in a resurgent season), and at best is a solid third-pairing guy.

Where was the urgency from Fitzgerald to put New Jersey in the best position possible to weather its current storms? Losing Hughes was a brutal blow, but it came ahead of the deadline, in time for Fitzgerald to do something in response. The Devils’ dearth of depth scoring was concerning even when Hughes was available, and their moves don’t address that either.

Can New Jersey keep up from here, holding off the Rangers and Blue Jackets for third place in the division and not slipping into a heated fight for Eastern Conference wild-card slots?

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