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 Palát’s full $6MM cap hit, reported by David Pagnotta of The Fourth Period.

After long-standing efforts from New Jersey move on, Islanders general manager Mathieu Darche brings in a familiar face in Palát, having spent several years together in Tampa Bay. The veteran shows a willingness to join the nearby club, being dealt despite a no-movement clause, where he will now try to help New York secure a spot in the postseason this spring.

Meanwhile, the Devils can finally turn the page, coming away with just under $4MM off the books, in what could prove to be a first step in more moves to come. Along with surrendering the draft picks, the team brings in Tsyplakov’s $2.25MM cap hit, which runs through next season. The 27-year-old has just two points in 27 games this season, originally coming over in 2024 after a 31-goal campaign in the KHL.

Tsyplakov, 6’3″, was effective in his first North American season, notching 35 points in 77 games in 2024-25, serving as an energy winger with some skill. The Russian finished the season ranked second on the team in penalty minutes, with 39, but has shown considerable improvement this year in avoiding infractions. However, due to the additions of Maxim Shabanov and Jonathan Drouin, New York had limited opportunites for Tsyplakov to showcase his offensive ability, needing him to be a more physical power forward, a role which proved not to be a fit.

Along with his 155 games of playoff experience, leading the team by a considerable margin, the Islanders are bringing in a winger more capable of bottom six contributions. As is well known to this point, Palát is not the player he once was, with 10 points in 51 games, but the 34-year-old has remained healthy this season and remains a solid utility winger.

Criticizing poorly-aging free agent deals of the past with the benefit of hindsight is a tired point, however, from the beginning, questions were raised on how Palát would age into his five-year deal. At the time, the Stanley Cup winner was expected to help along Jack Hughes and Nico Hischier, but the wear-and-tear of three straight deep postseason runs with the Bolts played a factor into his Devils tenure. Dealing with injuries, the former seventh-round pick has seen his role gradually diminish, and concludes his time in Newark with a season-best of just 31 points. Palát was unable to adequately compliment the likes of Hughes and Hischier, which was a must at such a price point.

Tsyplakov figures to be a useful bottom-sixer for the Devils moving forward, now seeking to turn the page under Head Coach Sheldon Keefe and return to his form from last year.

Darche and the Islanders have been busy over the past few days supplementing their group. Just yesterday, he swung another deal with his other nearby rival, acquiring defenseman Carson Soucy from the Rangers for a 2026 third-round pick. Now with today’s move, the club replinishes their lost selection, also bringing in a motivated veteran.

Palát joins the Islanders at an exciting time, as they’re slated to have a home-and-home with the Rangers tomorrow and Thursday. On the other hand, Tsyplakov could debut for New Jersey as soon as Thursday, as his new club hosts the Predators.

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.

Image Credit: John Jones-Imagn Images

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