Mikko Rantanen

It is a very rare feat that a player is traded in the middle of a 100-point season. One has to look as far back as Joe Thornton‘s blockbuster move from the Boston Bruins to the San Jose Sharks in 2005, or Teemu Selanne‘s move from the Winnipeg Jets to the Anaheim Mighty Ducks in 1995. It is near unprecedented that a 100-point scorer gets moved twice in the same year. But that’s exactly what transpired at the 2025 NHL Trade Deadline, after top winger Mikko Rantanen – pacing for 107 points before his first move – was dealt first to the Carolina Hurricanes and then to the Dallas Stars.

Both trades were groundbreaking. The first moved Rantanen away from the Colorado Avalanche after a decade with the organization; and the second marked the absolute peak of hurt feelings, poor fits, and extension negotiations. With the rare moves has come plenty of media attention, painstakingly scrutinizing the pair of deals from every angle. That has teased out plenty about the motivations and frustrations that drove Rantanen’s cross-country journeys.

The saga began when negotiations on a new contract extension between the Avalanche and Rantanen fell flat. The winger wanted a premium payment after posting career-years in each of the last two seasons – 105 points in 2022-23 and 104 points last year. But Colorado didn’t want to exceed their internal cap limit, and capped their offer to Rantanen at an eight-year, $93.2MM extension – or $11.65MM in per-season salary. But the Finnish wing wasn’t willing to dip that low. Rantanen conceded to take less than Edmonton Oilers star Leon Draisaitl, who earned $14MM on his own extension – but wouldn’t settle for too much lower than Avalanche co-star Nathan MacKinnon‘s $12.6MM salary.

Ultimately, it seems the Avalanche and Rantanen were roughly $1MM apart on a new deal. Rather than trying to continue sparring – or risk bending their internal cap – Colorado opted to flip their superstar without much second thought. Rantanen shared he was shocked by the sudden move, which moved him to the Hurricanes alongside Taylor Hall in exchange for Martin Necas, Jack Drury, a second-round pick, and a fourth-round pick. At the time, Rantanen told Corey Masisak of The Denver Post, “I was ready to take a significant discount for my market value. We had some chats, like a couple days before. Then they traded me. That’s what happened. That’s why I didn’t expect what happened.”

Apparently, Rantanen’s frustrations over the trade boiled into his first days in Carolina. To make matters worse, he left for the 4-Nations Face-Off tournament just over a week after playing in his first Hurricanes game – uprooting him as he tried to adjust to the new setting. With so much swirling around the move, it seemed Rantanen wasn’t ever going to be comfortable in Carolina. Canes head coach Rod Brind’Amour told Sportsnet that Rantanen laid it out flat from day one, telling him “There’s four teams I’ll go play for, but [Carolina] is not one of them.” Those are harsh words for an incoming addition – and made it clear that Rantanen had no indication of re-signing in his new destination. That held true even as Hurricanes general manager Eric Tulsky began his own negotiations, reportedly offering Rantanen as much as $12.6MM and showing the flexibility to go up to Draisaitl’s $14MM mark if need be.

With that, it was back to the open market for Rantanen. He had four landing spots top of mind but the Hurricanes received rich interest from across the league. The New Jersey Devils were the first team attached to the second market, and were quickly joined by the Toronto Maple Leafs, Vegas Golden Knights, Los Angeles Kings, Florida Panthers, and Dallas Stars.

Negotiations stalled out at different points with each team, but were said to go well down towards completion with Toronto, Edmonton, and Dallas. The Leafs are said to have offered a compelling package of top prospects Fraser Minten, Easton Cowan, and draft capital for the 100-point scorer – but Carolina countered with a package involving Toronto’s own star winger Mitch Marner. Marner was unwilling to waive his full no-movement clause for the move – ultimately caving talks in.

With one Canadian club dissatisfied, Carolina moved on to talks with the Edmonton Oilers – who were able to better match Rantanen’s desires for an extension, but couldn’t put together a return strong enough to sway the Hurricanes brass. That’s certainly no surprise. Edmonton has just one pick in the top two rounds of the 2025 or 2026 drafts – a second in the latter year. Their prospect pool is also relatively scant, headlined by Matthew Savoie with little depth behind him.

Where one bed is too soft – banked on future assets and inter-conference matchups – and the other is too hard – stuffed with filler to make up for lacking future pieces – Carolina was able to finally land on a perfect middle-ground in Dallas. The Stars are quickly turning into a wagon, with star veterans Tyler Seguin and Jamie Benn continuing to perform (when healthy) while youngsters like Wyatt Johnston and Thomas Harley plant their feet at the top of the lineup. With that momentum, and a clear path to the postseason, Dallas was able to shed some layers to land a big fish. They offered Carolina high-upside youngster Logan Stankoven, two first-round picks, and two third-round picks in exchange for Rantanen – an offer far more impactful in the short and long term than Toronto or Edmonton mustered up.

But the move to Dallas wasn’t immediately fruitful. The Stars formed the framework of the trade, but needed to land an extension with Rantanen before things could go through. Dallas wasn’t nearly as liberal with their wallets as some of Rantanen’s other options, and held firm to the $12MM-per-year mark on a new deal. That number came in $500K less than what Carolina had offered Rantanen, which initially put the winger off and seemed to push the deal towards falling flat. But diligent negotiating, and surely a desire to end this saga, ultimately forced Rantanen to cave. He signed an eight-year, $96MM extension with Dallas on the day of the Trade Deadline – finally (finally) landing him in a place where he could plant his feet.

On the organizational level, it seems everyone emerged from the jungle happy. Colorado landed a major contributor in Necas, who already has 17 points in 16 games as MacKinnon’s new right-winger. Carolina may have lost that point-per-game scoring, but they reeled back in one of the league’s top 23-year-olds, and the draft capital to be satisfied even if he doesn’t pan out. And Dallas added a 100-point scorer to an organization that’s only had one – 2022-23 Jason Robertson – since 1990.

But the deal gets murky as you dig deeper. After beginning the saga with a surprising move to Carolina, Rantanen now finds himself standing directly opposite of his old battery-mate MacKinnon. Colorado and Dallas have fought for majority control of the Central Division for years, intermittently upended by the Winnipeg Jets or Minnesota Wild. It’s not exactly a two-horse race, but Dallas’ success hinges on their ability to beat Colorado in the regular and post seasons – and vice versa. The two sides have already faced off twice this season, splitting the results. They have one more meeting – on Sunday, March 16th – which will give Rantanen a chance to test out facing his former club before they likely reconvene in the playoffs. While all of Rantanen’s matches with the Stars will be closely watched – it will be those meetings against Colorado that many find the most telling, after a trade saga that dragged through months of confusion and rumors.

Photos courtesy of USA Today Sports.