Re-Examining The Conference Finalists’ Trade Deadline Acquisitions

The trade deadline is always an interesting time to reflect on with the benefit of hindsight. Several massive trades were made leading up to it, including two trades involving star forward Mikko Rantanen. With the playoffs down to just two teams, and a bit of a break coming, an opportunity has presented itself to re-examine the deadline and look back at some winners and losers, some two months later.

Looking back at the biggest deal between the Dallas Stars and Carolina Hurricanes, it is interesting in retrospect, given that both teams lost in their respective Conference Finals. The deal involved Rantanen going to Dallas in return for Logan Stankoven, a 2026 first-round pick, a 2026 third-round pick, a 2027 third-round pick, and a 2028 first-round pick. Rantanen was later signed to an eight-year $96MM contract extension by the Stars, and now it looks like an absolute win for Dallas. Rantanen had come as advertised, posting nine goals and 13 assists in 18 games during the NHL Playoffs, with no games bigger than Game 7 of the first round when the 28-year-old had a hat trick to knock out his former team, Colorado. The trade for Rantanen solidified the Stars’ forward group. It gave them another high-impact forward to position them as a top Stanley Cup contender for the foreseeable future.

It’s hard to call Carolina a loser in the deal, given the haul that they got for Rantanen. Still, looking at their roster, they certainly lacked a gamebreaker in these playoffs and could have used Rantanen in the Conference Finals. Carolina fans will wonder what could have been had Rantanen stuck around. Still, Carolina probably did the right thing by recouping assets for Rantanen rather than letting him walk for nothing.

Dallas addressed other key areas at the Trade Deadline by acquiring forward Mikael Granlund and defenseman Cody Ceci from the San Jose Sharks for a first-round pick and a conditional third-round pick in 2025. Granlund provided some offense, but his skating was an issue at times against some of the quicker Edmonton Oilers players, and defensive issues have also been a problem. Granlund did have five goals and five assists in 18 games during the playoffs, but that is off the offensive pace he set in the regular season, and he has benefited from good deployment and a solid PDO.

Ceci, on the other hand, hasn’t been great, as his underlying numbers are arguably the worst of any of the Stars’ regulars. Ceci’s acquisition was a bit of a headscratcher at the time, but Dallas has used him heavily (probably too much) in the playoffs, playing him over 21 minutes a night. Ceci had three assists in 18 games, but to his credit, he had some of the most challenging assignments nightly, contributing to his poor analytics.

Ceci’s former team, the Edmonton Oilers, didn’t have the capabilities of making a big splash at the deadline. Still, they did make a handful of acquisitions that have solidified key positions in their march to the Stanley Cup Finals. The Oilers’ big moves were for forward Trent Frederic and defenseman Jake Walman.

Frederic was acquired to provide some sandpaper in the bottom six and chip in the occasional goal. It took a while for him to get going, thanks to a high ankle sprain, but he seemed to hit his stride in the second round against Vegas. Frederic hasn’t provided much offense, with just a goal and three assists in 16 playoff games, but he has been a physical threat anytime he’s on the ice, with 59 hits thus far. Frederic’s underlying numbers aren’t good, but he has been handed complex deployments and tough matchups as a member of the Oilers’ bottom six.

The Walman acquisition by Edmonton was a tidy piece of business, as the 29-year-old has helped stabilize the Oilers’ bottom pairing and has chipped in some offence as well. Walman has been given a very favourable deployment, which has allowed him to use his puck-moving ability and skating to contribute to Edmonton’s playoff success. Edmonton paid San Jose a steep price to acquire Walman, and while his results have been okay, it does feel like an overpay for what he brings.

The Florida Panthers were another team that was busy around the Trade Deadline, making a massive trade for defenseman Seth Jones on March 1st. The Panthers sent goaltender Spencer Knight and a conditional first-round pick in the 2026 NHL Draft for Jones, who also came to Florida along with a fourth-round pick in 2026. Jones was dramatically overpaid in Chicago at $9.5MM annually, but with retained salary, is at a $7MM cap hit with Florida, which is much more in line with his play. Jones has been great since coming over to Florida, eating up a ton of minutes and providing above-average play in almost every aspect of the game. Jones struggled at times with the speed of the game, but has been an overwhelmingly positive presence for the Panthers; his acquisition has given Florida a very formidable defensive core that has brought them to a second straight Stanley Cup Final.

Jones wasn’t the only splash that Panthers general manager Bill Zito made at the Trade Deadline, as he also acquired forward Brad Marchand from the Boston Bruins. Marchand has been everything the Panthers were hoping he could be and more, playing a pivotal role in the series against the Toronto Maple Leafs with three goals and five assists in seven games. Marchand’s acquisition cost Florida a conditional second-round pick in 2027 that has now become a first-rounder. Still, given his impact, Florida would likely pay it again if given the choice.

Lastly, we look at the moves the now-eliminated Carolina Hurricanes made at the Trade Deadline. As part of the Rantanen trade, Carolina was able to acquire forward Taylor Hall, who is no longer a Hart Trophy contender but remains a good player. The 33-year-old was the first overall pick in 2010 and had a decent offensive season this year with 18 goals and 24 assists in a bounce-back year after he was injured for most of the previous season. While Hall was a good acquisition for Carolina, it wasn’t enough to move the needle, and ultimately, their lack of meaningful additions cost them, as they didn’t have the horses necessary to get by the Panthers.

Outside of the trades involving Hall and Rantanen, the Hurricanes’ acquisition of Stankoven was a tidy little move that should pay dividends long term, as the 22-year-old was a steady point producer down the stretch with five goals and four assists in 19 games with Carolina. Despite being undersized, the Kamloops, British Columbia native also had a good playoff showing, with five goals and three assists in 15 games and should be a key contributor for the Hurricanes for a long time. His presence won’t lessen the sting of not being able to keep Rantanen in Carolina, but the Hurricanes didn’t walk away empty-handed and will have some other pieces of that trade in the fold very soon.

All that being said, the lack of a game-breaker badly hurt the Hurricanes, and they may look back on the move to trade Rantanen with a bit of regret, given that they lacked that player who could take over a game in the Florida series. Carolina continues to struggle to overcome the hump that is the Eastern Conference and probably should have been more aggressive at the Deadline given the state of their roster and their position in their competitive window.

Carolina made one other move for depth center Mark Jankowski. The 30-year-old finished the regular season strong with eight goals in his final 19 games but was used sparingly in the playoffs as he dressed in just seven games and had a single point. His move offered some depth, but it just wasn’t what Carolina needed to take down the formidable Panthers.

Image courtesy of Perry Nelson-Imagn Images.