Islanders Acquire Ondrej Palat

6:45 PM: As expected, Ondřej Palát has been traded, as the New York Islanders acquire the veteran along with draft picks. Maxim Tsyplakov is headed to New Jersey, while the Islanders also bring in a third-round pick in 2026, as well as a sixth-round pick in 2027, according to TSN’s Pierre Lebrun.

There is no salary retention involved, as the Islanders inherit Palat’s full $6MM cap hit, reported by David Pagnotta of The Fourth Period.

More to come…

5:30 PM: It appears the Devils are close to finding a trade partner for winger Ondřej Palát. The team is holding him out of tonight’s game against the Jets for “roster-related reasons,” per the team’s Amanda Stein.

The Devils’ efforts to shed Palát and his $6MM cap hit have dated back to last summer. Those only intensified into the season as New Jersey was close to the cap and attempting to make a splash on the trade market – widely assumed to be Quinn Hughes – but ended up not being able to pull the deal off. Not only does finding a willing taker for the declining veteran’s contract prove difficult, but he can block most moves with his 10-team no-trade list and no-movement clause.

Evidently, Devils general manager Tom Fitzgerald has now found a team that’s not on Palát’s no-trade list and is willing to take on all or most of his deal, which expires after next season. The 34-year-old inked a five-year, $30MM deal with N.J. in free agency back in 2022 on the heels of three straight Stanley Cup Final appearances with the Lightning. He was also coming off three straight 40-point seasons, but never managed to hit that mark in a Devils sweater.

From the start, his production simply wasn’t there. Injuries took away nearly half of his first season in Newark, and last year, he only averaged 13:45 of ice time per game with 15 goals and 28 points in 77 contests. He averaged 55 points per 82 games during his 10 years in Tampa, but that number is down to 30 in Jersey. This year, he’s mustered 10 points in 51 games for a career-worst pace.

With that in point, Palát’s contract comes across as squarely a negative-value one that the Devils will be offloading an asset to move, even if they’re retaining a little bit of cash. While his possession impacts were something of a saving grace over the first two years of the deal, those, too, have now declined. New Jersey has controlled under 50% of shot attempts with Palát on the ice at 5-on-5 dating back to last year.

Elliotte Friedman of Sportsnet was the first to officially break the deal.

Pro Hockey Rumors’ Bradley Keith also contributed to this article.