Trade Deadline Primer: Vancouver Canucks
With the Olympic break approaching, the trade deadline is about a month away. Where does each team stand, and what moves should they be looking to make? We begin our look around the league with teams that have clear plans at the extremes of the standings, starting with the Canucks.
The worst possible outcome for Vancouver this season was another finish in the mushy middle, like their 38-30-14 record that put them in no man’s land at 10th in the Western Conference. Being clearly the worst team in the league through the first two-thirds of the season may not be a step forward, but it’s at least a step in a direction. They already made the biggest move any team will make this season by shipping off franchise defender Quinn Hughes to the Wild, ushering in yet another formal retool/rebuild in British Columbia. How aggressively they’ll tear down the rest of their roster over the next few weeks remains to be seen.
Record
18-31-6, 8th in the Pacific (~0% playoff probability)
Deadline Status
Seller
Deadline Cap Space
$3.78MM on deadline day, 1/3 retention slots used, 48/50 contract used, per PuckPedia.
Upcoming Draft Picks
2026: VAN 1st, MIN 1st, VAN 2nd, SJS 2nd, VAN 4th, VAN 5th, VAN 6th
2027: VAN 1st, SJS 2nd, VAN 3rd, VAN 4th, PIT 4th, VAN 5th, VAN 6th, VAN 7th
Trade Chips
The Canucks’ braintrust of Patrik Allvin and Jim Rutherford has already thinned this list considerably by pulling the trigger on the aforementioned Hughes deal. They also shipped out pending UFA winger Kiefer Sherwood to the Sharks last month for a pair of second-round picks and a minor-league defender to make the contract math work for San Jose, so that’s another relatively high-value name gone.
That leaves Vancouver with four pending UFAs remaining on the NHL roster. While those names are the most traditional trade deadline fodder, none of them will net the Canucks a significant return. One of them – lefty defender Derek Forbort – has been on long-term injured reserve since October, so he’s likely not even an option to move.
They have a pair of centers available, Teddy Blueger and David Kämpf, who might serve as added depth for a contender’s fourth line. The 31-year-old Blueger only recently returned to the lineup after missing over half the year with a lower-body injury, although he’s been hot in limited action with four goals in eight games. He’s found himself in a similar situation before, when the Golden Knights picked him up from the Penguins as a rental at the 2023 deadline, and he served mostly as an extra forward in their run to the Stanley Cup. His historical strength on draws, track record of 20-plus point seasons, and penalty killing ability all give him legitimate resale value at an affordable $1.8MM price tag. He’s the higher-value piece of the two, although he has a 12-team no-trade list that could complicate a move.
Kämpf likely won’t land more than a mid-to-late-round pick at best. Since having his contract with the Maple Leafs terminated after clearing waivers at the beginning of the season, he’s averaged over 15 minutes per night for Vancouver, but only out of necessity. The 31-year-old’s offense was already limited, but despite seeing increased deployment, he’s clicking at a career-worst 0.19 points per game rate with only six in 32 contests. His defensive game has been a legitimate benefit, though – his 50.5% shot attempt share at 5-on-5 is among the best on the team, and he’s done so in difficult matchups.
The name that’s been thrown around the most, though, is that of Evander Kane. At $5.125MM against the cap, his nine goals and 25 points in 54 games since being acquired from the Oilers last summer are certainly underwhelming. His track record of strong playoff performances when healthy, though, has seen him draw interest from contenders like the Avalanche and Stars. His high cap hit and the Canucks’ limited cap flexibility mean they’re unlikely to recoup more than the fourth-round pick they gave up for him, though.
Of course, there are the big names. Elias Pettersson‘s still available for the right price, although his $11.6MM cap hit has always meant an offseason move is likelier. He and Jake DeBrusk, signed through 2031 at $5.5MM per season, both control their own destiny with no-movement clauses. Vancouver signed Conor Garland to a six-year, $36MM extension that doesn’t kick in until next season, leaving him with no trade protection until July 1. But with him only churning out seven goals in 44 games this season, there’s likely not widespread interest in picking him up with such a commitment.
Team Needs
Cap Space: Normally, rebuilders can add assets by leveraging their cap space to take on bad deals from money-needy teams in exchange for futures. Vancouver is in no such position to do that, as they’ve been tight to the limit all year and have only accumulated a few million dollars in space as a result. Kane, Blueger, Kämpf, and Forbort coming off the books will give the Canucks about $10MM of reprieve in addition to the projected $8.5MM cap jump. They also don’t have any RFAs in need of big pay bumps. It’s still relatively uncommon for a team in Vancouver’s position to have as many anchor deals as they do (Pettersson, Brock Boeser, Filip Hronek, Thatcher Demko) above a $7MM price point. No one is expecting one of those names to get moved in the next four weeks, but if they decide to take on a more aggressive teardown, opening more infinite flexibility will be the way to go.
More Center Help: Save for Pettersson enjoying a rebound, Vancouver doesn’t have a true first-line center, nor do they have one on the way. Marco Rossi is a nice piece, but he has only two points in eight games since being acquired from Minnesota. Braeden Cootes looks like a nice value for the 15th overall pick in last year’s draft, early on, but projects as more of a second-line, two-way piece. They won’t get a bona fide No. 1 middleman with a top pick in the 2026 draft class, either, with both top forwards being wingers.
Image courtesy of Timothy T. Ludwig-Imagn Images.
Hurricanes Activate, Reassign Charles-Alexis Legault
The Hurricanes announced that they’ve activated defenseman Charles-Alexis Legault from injured reserve and assigned him to AHL Chicago. He had been out since early November due to surgery to repair several torn extensor tendons on his right hand.
Legault, 22, was one of Carolina’s sharpest risers in training camp. A fifth-round pick in 2023, he’s in just his second professional season after notching 14 points in 63 games for Chicago last year. He didn’t crack the Canes’ opening night roster but found his way back up after just two AHL games when Carolina’s defense was in disarray due to injuries.
The 6’4″, 220-lb righty played in eight games for the Canes before sustaining his hand injury in a fight against the Maple Leafs on Nov. 9. He registered his first two NHL points, a goal and an assist, with a +4 rating while averaging 13:16 per game. He had great underlying possession numbers in his small sample, controlling 57.8% of shot attempts at even strength.
That surely has Carolina excited about his defensive upside, but with their defense back at full health, there’s no role for him right now. He’ll get some more consistent reps in Chicago before entering the final season of his entry-level deal and gunning for more ice time next season. Regardless, he’s still rather high up on their list of right-shot recalls if they need one.
Oilers Sign Atro Leppanen To Two-Way Extension
The Oilers announced they’ve signed defenseman Atro Leppänen to a two-way extension. The deal carries an $850K NHL salary for 2026-27 with a $360K minors salary and a $400K guarantee, per PuckPedia. He would have become an unrestricted free agent this summer.
Leppänen, 27, landed in North America for the first time last April when Edmonton inked him to a one-year entry-level deal. While he didn’t win a spot on the Oilers’ roster in training camp, the veteran of 10 professional seasons in Europe accepted an assignment to AHL Bakersfield.
The 6’0″ lefty has been a revelation for Edmonton’s minor-league defense corps, which lacks much puck-moving ability. Despite only playing in 28 of Bakersfield’s 43 contests, he leads their defense in scoring with 20 points (three goals, 17 assists) – although his -5 rating is tied for the worst among Bakersfield rearguards.
It’s largely what was expected out of Leppänen after the previously unheralded Finn exploded for 21 goals and 63 points in 60 games for Liiga’s Sport last season, just his second year in Finland’s top flight after spending most of his pro career in lower-level domestic leagues. Two-way play wasn’t his strong suit in Europe, either.
He’d only ever grade out as a power-play specialist if he lands a recall, but it’s evident he’s happy with the fit in the Oilers’ system and lands a nice AHL pay raise to stick around, up from the minimal $85K he’s making as an entry-level player.
Red Wings Sign Sheldon Dries To Two-Year Extension
The Red Wings announced they’ve signed forward Sheldon Dries to a two-year, two-way contract extension. Financial terms were not disclosed. He was slated for unrestricted free agency this summer.
Dries was returned to AHL Grand Rapids on Friday after a one-day call-up, his second of the season. The 31-year-old has yet to play an NHL game for Detroit since signing a two-year, two-way deal with his hometown team in free agency in 2024, despite being recalled a handful of times now for injury insurance.
The veteran of 122 NHL games with Colorado and Vancouver has nonetheless provided immense value to the organization in a minor-league role. Long a top producer in the AHL, he’s put up 40 goals and 69 points in 99 games with Grand Rapids over the past two seasons. That includes a resurgent 15-14–29 scoring line this season in 39 games, tied for second on the team in points, as they’ve marched to a ridiculous 33-6-3 record with a +65 goal differential, winning games by 1.55 goals on average.
Dries now sees his contributions rewarded with another couple of seasons of financial security. He was already well-compensated for a two-way player with a $525K guarantee, and it’s hard to see that figure changing much. The Western Michigan product may not have appeared in an NHL game since 2022-23 with the Canucks, but he remains a reliable recall option and an important veteran centerpiece to anchor the Wings’ developing prospects in Grand Rapids.
Red Wings Reassign Justin Holl
1/31/26: Detroit has now reassigned Holl as well.
1/30/26: Detroit announced Friday morning that Dries has been reassigned back to AHL Grand Rapids. His stay on the NHL roster has therefore ended less than 24 hours after it began.
Dries did not dress for Detroit’s shootout loss to the Washington Capitals last night, instead serving as a healthy scratch. With the Griffins taking on the Chicago Wolves tonight, Dries’ reassignment allows Grand Rapids to have access to a key veteran for their final game this month.
The 31-year-old, who has played in over 100 NHL games, has not dressed for an NHL contest since 2022-23, and is still waiting on the chance to make his Red Wings debut.
1/29/26: The Red Wings announced they’ve recalled defenseman Justin Holl and center Sheldon Dries from AHL Grand Rapids. Defenseman Simon Edvinsson was placed on injured reserve retroactive to Jan. 21 in the corresponding move. Detroit had an open roster spot entering today, so only one spot needed to be opened.
The veteran Holl had to wait quite some time for his first recall of the season after landing on waivers in October, but it finally came past the halfway point on the calendar. Holl, who turns 34 tomorrow, is in the final season of a three-year, $10.2MM contract that he signed in free agency in 2023 that virtually carried negative value from the start. He served as the Wings’ extra defender for most of the first year of the deal and then cleared waivers to begin 2024-25, although he still remained up on the NHL roster for nearly all of last season.
This year, though, Holl has seen extended time in the AHL, his first minor-league action since the 2017-18 campaign. The 6’4″, 205-lb righty has leveraged his nearly 400 games of NHL experience into being one of the top shutdown defenders in the league, posting 10 points and a +17 rating in 31 games. With his help, Grand Rapids is off to a historic 32-5-3 start through 40 games.
Helene St. James of the Detroit Free Press reports there’s a flu bug going around the room before tonight’s game against the Capitals. The Wings were already carrying an extra defenseman in Erik Gustafsson, and since they’re already down a lefty with Edvinsson out, it would likely be Gustafsson who draws in if a Detroit defender needs to sit. In case it’s two names heading out of the lineup, though, Holl would see his first NHL action in over nine months.
How Holl plays in whatever limited NHL opportunities he gets down the stretch will be crucial in his positioning for a one-way contract in free agency this summer. He once reliably logged over 20 minutes a game for the Maple Leafs with decent under-the-hood numbers before signing in Detroit. His role with a new team next season won’t climb past the No. 6/7 deployment he’s seen while on Detroit’s roster, but a strong showing in a small sample could go a long way toward convincing a team he can still be a reliable extra option.
Detroit didn’t have an extra forward on hand, so Dries will come in if anyone is sick. The 31-year-old Michigan native is also an experienced plug-in option with over 100 games of NHL experience, although he hasn’t made a big-league showing since skating in a career-high 63 games with the Canucks in 2022-23. He’s now in his second season in the Wings organization with Grand Rapids, where he’s posted 14 goals and 28 points in 32 games.
Edvinsson’s IR placement is only a formality. He’s already been ruled out through the Olympic break with his lower-body injury and there’s no certainty he’ll be ready to return once games get going again in late February.
Blues Activate Oskar Sundqvist From Injured Reserve, Recall Matt Luff
1/30/26: The Blues once again recalled Luff from AHL Springfield under emergency conditions, restoring the recall they made, and then reversed, yesterday. The move fills the roster spot they opened when they reassigned Luff as part of the series of transactions they made that activated Sundqvist off of IR.
Luff has had a strong season so far, scoring 33 points in 33 games at the AHL level. That’s earned him the chance to dress for five NHL games, where he’s scored one goal and averaged 9:08 time on ice per game.
1/29/26: The Blues announced Thursday that they’ve activated center Oskar Sundqvist from injured reserve. As previously reported, St. Louis assigned wingers Matt Luff and Hugh McGing to AHL Springfield in the corresponding moves after recalling them under emergency conditions just this morning, leaving them with an open roster spot.
Whether or not Sundqvist enters the lineup tonight against the Panthers remains to be seen. He was labeled as a game-time decision this morning by head coach Jim Montgomery alongside top-six wingers Jordan Kyrou and Jake Neighbours (via NHL.com’s Lou Korac). Returning Luff and McGing to Springfield indicates the Blues have certainty that at least two of those names will be available. Considering Sundqvist has been a healthy scratch on a few occasions this season, though, he may still be outside of the lineup if all three are healthy.
The 31-year-old’s stay on IR was brief. He landed there last Friday and ended up missing four games with an ankle laceration that he sustained on Jan. 18 against the Oilers. With that, the healthy scratches and a lower-body injury that kept him on the shelf for the first couple of weeks of the season, Sundqvist has been limited to 39 out of 53 possible contests in 2025-26.
Now in his 11th NHL season and second stint with the Blues, Sundqvist remains an all-situations pivot who’s anchored the fourth line between Alexey Toropchenko and Nathan Walker for a decent portion of the campaign. He’s flexed into both the Blues’ second penalty-killing and power-play units when needed and is averaging 13:20 of ice time per game, right in line with his career average.
While he hasn’t been in the Blues’ lineup every night, he’s still been reasonably productive in his depth role for a St. Louis squad that struggles to score. He’s managed three goals and 10 assists for 13 points in 39 games, a pace of 0.33 per game that outmatches what he’s done in either of his last two seasons in Missouri. That’s despite him shooting at 9.4%, more than a full point below his career average.
Sundqvist’s -13 rating is uninspiring but not unexplainable. He starts 71.5% of his shifts at 5-on-5 in the defensive zone, one of the highest rates in the league among forwards.
Utah Mammoth Reassign Dmitri Simashev
1/30/26: The Mammoth announced that Simashev has been reassigned to AHL Tucson just two days after he was recalled. Simashev was a healthy scratch for Utah’s loss to the Carolina Hurricanes last night. Returning Simashev to the AHL gives him the chance to play in the pair of games scheduled for the Roadrunners this weekend.
While he averages just 15:28 time on ice per game at the NHL level, Simashev has been trusted with a far more significant role in Tucson. He’s got 20 points in 20 games in the AHL this season, and letting Simashev continue to play a big role at that level could aid the development of the 2023 No. 6 pick.
1/28/26: Before last night’s win over the Panthers, the Mammoth announced they’ve recalled defenseman Dmitriy Simashev from AHL Tucson. He takes the roster spot of center Cameron Hebig, who’s on his way back down to Tucson in the corresponding move.
Simashev, who turns 21 next week, will get his second crack at NHL ice time in his rookie season. The sixth overall pick in the 2023 draft cracked Utah’s opening night roster and spent the first couple of months in a rather expanded role, riding shotgun with countryman Mikhail Sergachev on the Mammoth’s top pairing while Sean Durzi dealt with an upper-body injury.
The experiment didn’t go all too well. Drafted as a smooth-skating shutdown piece, Simashev had one assist and a -9 rating in 24 outings while averaging 15:28 of ice time per game. Despite owning a 6’4″, 200-lb frame, the lefty didn’t leverage it often and only recorded eight hits.
Sergachev ended up faring much better with Durzi than he did in several weeks of play with Simashev. The Sergachev-Durzi pairing has controlled 54.0% of expected goals at 5-on-5, while the Sergachev-Simashev unit posted a 48.3 xGF%, per MoneyPuck.
As such, Simashev was sent down to Tucson in early December. Since going down, he’s been nothing short of dominant. Most expected his lack of offense in Russia’s top league to be a concern, but he’s rattled off a point per game in 20 appearances with a +3 rating. He’s more than earned a second look and will get one now, likely competing with Nick DeSimone and Olli Määttä to take on a third-pairing job with fellow lefty Ian Cole.
As for Hebig, he’d been up as an extra forward for the last week after Utah sent veteran Kevin Rooney down. The 29-year-old didn’t end up playing and is thus still awaiting his NHL debut. The 5’10” pivot has enjoyed a career-best campaign in Tucson, where he ranks second on the team in scoring with 33 points (15 goals, 18 assists) in 35 games.
Stars Will Host Golden Knights In 2027 Stadium Series
All the outdoor games for next season are now in place. The league had previously announced the Stars as the host of the 2027 Stadium Series at AT&T Stadium in Arlington, Texas, home of the NFL’s Dallas Cowboys. Today, they confirmed it’ll be the Golden Knights heading to the Lone Star State to face Dallas on Feb. 20, 2027.
Also on the schedule next season is the infrequent Heritage Classic, which the Jets will host against the Canadiens in late October. The Mammoth were also recently announced as the host of the 2027 Winter Classic for that franchise’s first outdoor game against the cross-border rival Avalanche.
It will be just the second time outdoors for the Stars. Despite their southern location, it’s also their second time hosting. They were home one of the more memorable outdoor contests in league history as the 2020 Winter Classic at the Cotton Bowl, which they won against the Predators and was the second-most attended game in league history at 85,630 spectators.
Meanwhile, it’s the third outdoor showing in a decade of existence for Vegas, all coming in the last six years. It’ll also be their third time on the road after heading to Lake Tahoe for the special edition COVID-year games in 2021 and playing in Seattle against the Kraken for the 2024 Winter Classic.
Hurricanes Reassign Noah Philp, Joel Nystrom
Jan. 29th: Carolina indirectly confirmed that Philp cleared waivers, announcing that they’ve reassigned him and defenseman Joel Nystrom to AHL Chicago. Nystrom’s demotion was expected, given that the team shared that Shayne Gostisbehere would return tonight after a five-game absence due to a lower-body injury. Nystrom scored one goal in four games during his recall, averaging 11:25 of ice time per game.
Jan. 28th: The Hurricanes have placed center Noah Philp on waivers, per Sportsnet’s Elliotte Friedman. He had been on injured reserve with a concussion; now that he’s healthy, he won’t be back with Carolina. He’ll either be headed to AHL Chicago or another NHL club if he’s claimed off the wire.
Philp, 27, was claimed off waivers from the Oilers just last month. If Edmonton submits a claim for him and is the only team to do so, they could send him directly to their AHL affiliate in Bakersfield without having to waive him again.
The Alberta-born pivot sustained the concussion in just his second appearance for Carolina on Jan. 6 against the Stars. He logged just 18:26 of total ice time across the pair of contests in a Canes sweater, notching two shots on goal and six hits while going 11-for-21 (52.4%) on draws. Including a 15-game run with the Oilers earlier in the year, he has a 2-1–3 scoring line with a -7 rating in 17 showings in his second NHL season.
There are red flags in Philp’s possession game. Even accounting for his deployment as a shutdown center at even strength, his 41.6 CF% at 5-on-5 is ghastly for a center who played in two extremely favorable possession environments in Carolina and Edmonton. He had a 54.8 CF% in 15 games with the Oilers last year, but in far more sheltered usage. There’s been some intrigue in the 6’3″, 200-lb frame he brings to the table, but it will be hard to continue justifying deploying him in a grinder role at the bottom of the lineup if he continues to be a significant drag on his team’s ability to control play.
Signed as an undrafted free agent out of the University of Alberta in 2022, Philp does have a nice 38-34–72 scoring line with a +13 rating in 130 career AHL games, all with Bakersfield. That includes a 35-point effort in only 55 games last year after he took a leave of absence for the entire 2023-24 campaign. The Oilers are likely hoping they’re the lone interested party in retaining him, either for familiar fourth-line depth or an AHL needle-mover.
Latest On Mario Ferraro
1/29/2026: There are new developments in the situation surrounding Ferraro, courtesy of San Jose Hockey Now’s Sheng Peng. Peng confirmed Pagnotta’s report that the Sharks are interested in retaining the defenseman on a short-term deal, but added that Ferraro himself is looking for a deal with term “likely starting at four years or longer.” Peng also reported that San Jose offered Ferraro a two-year extension, and that offer was rejected.
Ferraro is “likely” seeking a term of at least four years on his next contract, according to San Jose Hockey Now’s report.
Ferraro’s belief that he can likely receive a longer-term offer than the Sharks are currently prepared to make is not entirely unfounded. As mentioned earlier this week, AFP Analytics projected Ferraro’s extension to come with a five-year term, but even looking anecdotally, similar defensemen have been able to earn more substantial term on their UFA deals than two years.
Peng specifically cited recent UFA blueliners Cody Ceci and Ryan Lindgren, who each signed for four years, as players Ferraro might view as comparable. Ben Chiarot, who is 34, signed a three-year extension this week, further legitimizing Ferraro’s belief that he is well-positioned to garner offers with greater than a two-year term.
Whether the Sharks are willing to be one of the teams to make Ferraro one of those offers is still unknown at this time.
1/25/2026: Entering the season, it looked like the Sharks would be selling off multiple pieces from an already weak blue line. Four of their seven active names are pending unrestricted free agents, and for a team primed for another losing season, it looked prudent to cut bait on most, if not all of them, for futures.
Past the halfway point of the year, though, San Jose has exceeded all expectations and finds themselves in the thick of the Western Conference playoff race. While they may still look to flip some veteran names that don’t have a long-term future, Mario Ferraro is becoming less likely to be one of them. They’re still listening to calls on him but are “believed to have some interest in retaining Ferraro on a short-term deal,” David Pagnotta of The Fourth Period wrote last week.
That interest is mutual. The Sharks’ improvement in the standings has boosted his interest in sticking around – something Ferraro already said during training camp he was interested in doing, but Pagnotta wonders if he’d be open to a short-term offer with this summer being the 27-year-old’s best shot at a lucrative long-term contract.
Whether those offers would even be there for Ferraro if he hits the open market this summer remains to be seen. He’s been San Jose’s top minute-muncher throughout the rebuild – at least until this season, when their free-agent signing of Dmitry Orlov has bumped Ferraro down to a more comfortable role as their No. 2 lefty.
His results haven’t been great. Per 82 games for his career, the 5’11” rearguard averages 18 points and a -22 rating. Whether that’s a product of his game or his environment is the million-dollar question for teams entering the summer.
AFP Analytics projects Ferraro’s extension at $5.9MM annually for five years. That’s likely longer than the Sharks are willing to go, but they’re in a position to outcompete that AAV by a significant margin. They’ve shown a willingness to go for high-dollar, short-term deals recently, although with Macklin Celebrini and Will Smith needing new deals in the 2027 offseason, that’s likely to fade fast.
Even if both sides were willing to go for a high-dollar, shorter-term deal in the $6-7MM range, it’s fair to question how much that makes sense for San Jose’s depth chart as soon as next season. Orlov will remain in the picture, Pagnotta relays, and youngsters Sam Dickinson and Shakir Mukhamadullin are solid locks for the other two spots on San Jose’s left side. Unless they’re willing to shift Mukhamadullin to his offside longer-term, there isn’t a pressing need to retain Ferraro past this year.
As for what Ferraro’s brought to the table this season, it’s more of the same. His -2 rating is greatly improved, but his possession numbers remain middle-of-the-pack in defensive-minded usage, controlling 43.7% of shot attempts at even strength. He’s also chipped in four goals and 12 points in 50 games while averaging 20:50 of ice time per game, his lowest workload since his rookie season.