NHL Trade Grades: Offseason Hot Stove Heats Up

After being treated to one of the best NHL regular seasons and Stanley Cup playoffs in recent memory, we still have one last sprint to push toward the postseason. With the draft and free agency quickly approaching, things are heating up in the trade market. Teams want to ensure they have the cap flexibility to make big moves to their rosters heading into the offseason.

Since the beginning of the postseason in April, quite a few deals have already been made. I didn't react to those live but have since retroactively graded those moves. Please look at what's happened so far below and check back periodically to see my reaction to the moves still on the horizon.

Before we get into the deals and the grades I've given them, I want to thank the sites that help make me seem way more intelligent than I am. Thank you, Natural Stat Trick, Elite Prospects, Puckpedia, Moneypuck, Hockey Reference, and Cap Friendly (RIP), for all you do for me and the hockey community. Having this data publicly available makes this possible and is just fun overall.

~This is a dynamic webpage that gets constantly updated; please check back ~

Capitals trade with Flames to stay competitive

Calgary receives - 2025 2nd round pick

Washington receives - Andrew Mangiapane (LW)

Grade

Flames: A-

The Flames' ability to move Andrew Mangiapane without retaining any of his salary is a big win. Mangiapane has shown he can score goals in this league, but his production has dipped recently. I believe he'll be able to stabilize things playing in Washington under coach Spencer Carbery, but his 5.8-million-dollar cap hit for two more seasons is a lot. The Flames have a ton of draft capital, so it'll be interesting to see if they plan on diving headfirst into a rebuild or plotting to make a big splash in free agency or via trades.

Capitals: C+

GM Brian MacLellan continues his commitment of keeping this team competitive for the sole purpose of getting Alexander Ovechkin the goal scoring record. Mangiapane can provide some scoring help to a team that ranked in the bottom-five in goal per 60 in 2023-24. The Capitals being willing to take on his entire cap hit limited the damage to only a second round pick. At worst the 28-year-old forward can continue his decline in production and be an expensive middle-six wing. At best he become that 30 goal guy again. For a team who's goal is to just stay afloat this is a gamble worth taking for the Caps.

Pacific Division rivals swap depth skaters

Los Angeles receives - Kyle Burroughs (RHD)

San Jose receives - Carl Grundström (RW)

Grade

Kings: C-

Kyle Burroughs is a 7th D-man who provides some cost certainty to the Kings. He had a tough year with San Jose in 2023-24 but can likely turn things around on a better team. It'll be interesting to see how the Kings utilize the 28-year-old defender. Hopefully, it's nothing more than a bottom-pairing role.

Sharks: C

Carl Grundström joins the list of other RFA forwards that the Sharks have traded for over the past few days. At 26, Grundström provides some speed and a grizzled young veteran presence to the Sharks. So far, during his 236-game career, the Swedish forward hasn't developed into anything above a 4th-line checking wing. He's helpful but redundant when you look at the rest of the Sharks forward group. It wouldn't surprise me if San Jose just lets him walk to free agency and utilizes this deal as a roster player dump of Kyle Burroughs.

Sharks sacrifice second-rounder to move up in draft

Buffalo receives - 2024 1st round pick (#14), 2024 2nd round pick (#42)

San Jose receives - 2024 1st round pick (#11)

Grade

Sabres: B-

This was a decent return for Buffalo overall, but it does raise some questions heading into the draft about what direction this team is taking. Combine this trade with the recent reports that the team is willing to buy out Jeff Skinner's remaining years of his contract. Are they planning to use this extra pick to entice someone to take his contract instead? Did they think the player they are after will be available at 14, regardless? Whatever happens, it better work out for Sabres GM Kevyn Adams. This team is way out of its rebuild phase and needs to improve quickly. That's why I'm not so sure about being so dead set on getting rid of someone who ranked 3rd on the team in goals scored (Jeff Skinner).

Sharks: B+

San Jose is now on the fringe of the top-10 in the 2024 NHL draft. GM Mike Grier traded away one of his stockpiled second-round picks to make this deal happen. Earlier this week, Grier mentioned that the Sharks would take the best player available at (#14). But now, with the pick (#11), they have much more of a chance to get a player they want. Their prospect pool is light on high-end defensemen, so most expect them to go that route. But there is a possibility they select a scoring wing like Cole Eiserman. Or even... trade up further. Let's not get ahead of ourselves. I like this trade.

Canucks shed problematic contract for cap relief.

Chicago receives - Sam Lafferty (signing rights), Ilya Mikheyev (15% retained), 2027 2nd round pick

Vancouver receives - 2027 4th round pick

Grades

Blackhawks: C+

Chicago did okay in this trade, getting a future 2nd-round pick and Iyla Mikheyev's contract at a slightly discounted price. Mikheyev is a robust and big-bodied wing coming off a 31-point season in which he scored 11 goals. He's a valuable player, but not at his cap hit of 4,750,000 million for the next two seasons. The Hawks getting him a slightly reduced makes this trade more palatable (4,000,000 after the 15% retention). He'll be a key piece in their middle-six moving forward. Additionally, the Hawks are hoping to bring back Sam Lafferty. He is a UFA this off-season, and I hope that getting the first crack at trying to sign entices him to come back.

Canucks: B

I'm not the biggest fan of Vancouver retaining salary, but only having to give up a 2027 2nd rounder works for me. The Canucks would like to bring back Dakota Joshua, who scored 18 goals and compiled 32 total points in 2023-24. He'll command a significant pay raise after boosting his stock with his play during the Stanley Cup Playoffs. On top of this, it feels like Vancouver's GM, Patrik Alvin, is trying to upgrade their top-six forward group. They've been heavily involved in trade rumors and reportedly engaged in signing top free agent Jake Guentzel. All in all, they did a decent job in this deal despite the salary retention.

Sharks take on a "bad" contract for a 2nd round sweetener

Detroit receives- Future Considerations

San Jose receives - Jake Walman (LHD), 2024 2nd round pick (#53)

Grade

Red Wings: D

I understand why this type of trade had to happen for the Red Wings, but the player involved baffles me. Detroit needs to improve its defense after a disappointing 2023 -24 campaign. In addition, it needed to acquire more cap space to help re-sign its RFAs and make a big move to improve its team. These reasonable moves show that GM Steve Yzerman has a plan. However, it is questionable when the player getting traded is Jake Walman, not someone like Ben Chariot or Jeff Petry. All this isn't going to matter if Detroit brings in a big name during free agency or via trade but it's still not the way I would have gone about getting to this point.

Sharks: A

Sharks GM Mike Grier addressed one of the team's most extensive needs with this deal for Jake Walman. Not only can Walman provide some offensive upside with his shot, but he's also very good at transitioning the puck from zone to zone. He's coming off a season where he scored 12 goals and 21 total points. Additionally, he tied for 2nd among blueliners on Detroit in ice-time per game with an average of 19:46. He did have a down year in 2023-24, but when you consider the context of those minutes, it makes sense. Walman was tasked with the tough match-ups and defensive zone starts. This type of deployment can skew a player's perception and hopefully can see him turn things around when managed more wisely. The two years remaining of his deal, which holds a 3.4 million AAV, is more than fair value. So why did Detroit have to fork out another asset to shed his deal? I'm not entirely sure, but I'm not sure how much I care as a Sharks fan. It's a win for me.

Detroit loads up for their next big move

Detroit receives - Jesse Kiliskinen (RW), 2024 2nd round pick (#53)

Nashville receives - Andrew Gibson (RHD)

Grade

Red Wings: C+

Detroit didn't strike me as a team that would generally be interested in acquiring futures, so GM Steve Yzerman almost immediately trading this 2024 2nd-round pick isn't all that surprising. Jesse Kiiskinen is a Finnish forward prospect who will likely continue to develop in Finland, playing in the Finnish Elite League Liiga. Overall, it's strange that the Red Wings traded Andrew Gibson after signing him earlier this off-season. But if Yzerman has more extensive plans, this will be seen as an afterthought in the grand scheme.

Predators: B

The Predators were light on right-handed defensive prospects, so targeting someone like Andrew Gibson makes logical sense. Gibson was picked up during last year's draft in the 2nd round. He's got good size at 6'3 and shows some offensive upside. We'll have to see if he can take the next year during his final year in Junior for the Soo Grey Hounds. Luckily for him, his path to the NHL isn't as crowded as it was in Detroit. Gibson was a player they liked and went for it. I trust the GM Barry Trotz, and his scouting department know what he's doing.

Will trading Linus Ullmark in the division backfire on the Bruins?

Boston receives - Joonas Korpisalo (G) (25% retained), Mark Kastelic (C), 2024 1st round pick (#25)

Ottawa receives - Linus Ullmark

Grade

Bruins: D

Some of our reactions to the return for Ullmark in this deal have been too dramatic, especially after seeing how the Flames made out when trading for an older Jacob Markstrom. The Bruins can still find a way to ship out Joonas Korpisalo and his lighter cap hit to a team that wants to take a chance on him. And if they overpay him as a backup for a year, it's not the end of the world. Add a big-bodied AHL-NHL fringe forward in Mark Kastelic and their original 2024 first rounder back in the deal; things don't look so bad return-wise. However, having to trade him within the same division takes a few points off their final score.

Senators: A-

This trade is a win for the Senators because it directly addresses their most significant need. Ottawa ranked in the bottom two in the NHL in save percentage at 5v5. Ullmark ranked first in save percentage at 5v5 over the past two seasons among players with at least 50 starts. And despite losing his starting role to Jeremy Swayman towards the end of last season, Ullmark still can serve as a very good 1A in a tandem situation. Oh yeah, and this dude JUST won the Vezina Trophy in 2022-23. Even without Ullmark and Senators not agreeing to an extension, offloading the bulk of Joonas Korpisalo's contract is a massive win.

The Preds make Ozzy Wiesblatt officially a part of their roster

Nashville receives - Ozzy Wiesblatt (RW)

San Jose receives - Egor Afanasyev (LW/C)

Grade

Predators: C+

The Nashville Predators made it official by announcing a deal to add Ozzy Wiesblatt to their team full-time. Over the past few months, the 22-year-old has played for the Predators' AHL affiliate, the Milwaukee Admirals. During his time on loan, he scored 6 points in 16 regular-season games but looked much more confident during his Calder Cup playoff run. There, he posted two goals and seven points on his way to a Conference final appearance. Wiesblatt still has another year left on his entry-level deal, so he'll get some runway to change the perception of him during an entire off-season in the Preds system. As a former first-round pick, Wiesblatt still has plenty to prove before he can live up to where he was drafted by the previous Sharks front office regime.

Sharks: B-

The Sharks gain another forward looking for more opportunities in 2024-25. Egor Afanasyev isn't easy to push around at 6-4 212 pounds. In addition to his size, he also possesses a strong shot, which helped him lead the Admirals in scoring last season. He scored 27 goals and compiled 54 points in just 56 games played. At 23, Afanasyev still potentially hasn't reached his ceiling. Typically, players his size take longer to develop, especially at the forward position. It looks like he's finally comfortable in his frame and expects to be able to test himself on an NHL level. That wasn't a guarantee in Nashville, which ultimately led to this trade. He's an RFA this off-season and has suggested that going to the KHL is in the cards. However, I think the Sharks will allow him to make it work in the NHL.

New Jersey trades Graeme Clarke to Minnesota for Adam Beckman

Minnesota receives - Graeme Clarke (RW)

New Jersey receives - Adam Beckman (LW/C)

Grade

Wild: B

Graeme Clarke was born in Minnesota but grew up playing hockey in Canada. At 23, the right-handed forward is coming off a 49-point campaign in which he potted a team-leading 25 goals in 67 games for the Devils' AHL affiliate, the Utica Comets. His best attribute is his shot, which will serve him well for Minnesota's AHL affiliate, the Iowa Wild. The team desperately needs skaters capable of creating quality scoring chances independently, and Clarke does that in droves. The "downsides" are that he's a restricted free agent, so he'll need a contract, likely his qualifying offer of 813,750. In addition, he's no longer waiver-exempt, which might cause issues down the line.

Devils: C+

Adam Beckman is coming off an up-and-down season for the Iowa Wild. At 23, he posted a respectable 33 points while leading the team with 19 goals in 51 games. He spent most of his time in the AHL but got a shot with the big club to finish the 2023-24 campaign. During his 11-game tryout, he only compiled 2 points with minimal ice time. The writing was on the wall for Beckman at the end of the season. He's an RFA and needs a new contract. With the Iowa Wild in desperate need for a shake-up, Beckman felt like a candidate for a change in scenery. He's an intelligent player who uses his above-average skating to get him into the correct positions. He still can become a solid depth forward in the NHL.

Trading mistakes one-for-one

Los Angeles - Darcy Kuemper (G)

Washington receives - Pierre-Luc Dubois (C)

Grade

Kings: B-

Good on King's GM Rob Blake to acknowledge that signing Pierre-Luc Dubois to that massive 8x8.5-million-dollar contract last off-season was a mistake. The Kings needed to address their goal-tending situation and hoped Darcy Kuemper could provide a solution. He still has three years left on his current deal, worth 5.25 million per year. It's a hefty sticker price, especially for a goalie who posted a sub-.900 save percentage last season. However, the Kings are a tier above the Caps in terms of team defense, which should help the Stanley Cup champion netminder rebuild his game.

Capitals: D+

Throughout his first (and only) season with LA, Dubois scored 16 goals and 40 total points in 82 games. At 26, PLD still has time to live up to his third-overall pick pedigree, but he's running out of places willing to give him a shot. Washington has a center-shaped hole in their top-6, so expect him to get plenty of opportunities in the nation's capital. He has the tools to become one of the better power forwards in this league but struggles to buy in. We'll have to see if he's willing to put stock in, potentially becoming THE guy up the middle for the Caps.

Ty Dellandrea gets a new opportunity with the Sharks

Dallas receives - 2025 4th round pick

San Jose receives - Ty Dellandrea (C/RW)

Grade

Sharks: C+

The Sharks want to build a solid foundation to help insulate their young roster that will soon encompass first-overall pick Macklin Celebrini. In addition, general manager Mike Greir is trying to compensate for several draft misses by the previous regime. This means bringing in a young forward like Ty Dellandrea makes a lot of sense. At only 23, Dellandrea's 173 NHL games played are impressive despite the lack of production. Dallas is a deep team, so Dellandrea didn't get much chance to move up the lineup. He'll get that chance with the Sharks. He's an RFA, so he'll need a new deal by July 1st. However, one should expect that he'll be in San Jose at the start of next season.

Stars: B+

The Stars didn't have a place for Ty Dellandrea on the roster next season. With Dallas' 2020 1st-round pick Mavrik Bourque needing a spot in the lineup, Dellandrea was the odd man out. Getting a 2025 4th rounder was a decent return for a skater who didn't fit into their plans. This was a classy move by GM Jim Nill; he moved Dellandrea to a spot where he'll get an excellent opportunity to prove that he is more than just a bottom-six depth forward. Plus, I always give bonus points on grades for considerate GMs who always do right for the player they move on from.

Markstrom makes his way to the Devils

New Jersey receives - Jacob Markstrom (G) (31.3% remaining salary retained)

Calgary receives - Kevin Bahl (LHD), conditional 2025 1st-round pick (top-10 protected)

Grade

Devils: B+

New Jersey's GM, Tom Fitzgerald, addressed the team's most glaring need with this trade. The Devils ranked in the bottom three teams in overall save percentage in 2023-24. And despite a couple of down seasons over the past two years, Markstrom still can be one of the better-starting goalies in the entire NHL. At 34, the Swedish netminder has proven he can stay relatively healthy and give a team a comfortable 45 - 50 starts. It'll be interesting to see what a Markstrom/Jake Allen tandem can do for New Jersey and their new coach, Sheldon Keefe. With the Flames retaining nearly a third of his salary, the Devils will have plenty of room to add elsewhere over the next few weeks.

Flames: C

The hockey community's initial reaction to this trade was mockery and disappointment in the return the Flames got for Jacob Markstrom. However, upon closer inspection, Calgary's GM, Craig Conroy, didn't do all that bad, even though there was a retained salary. Kevin Bahl has proven to be a bottom-four pairing NHL defenseman who will provide size and some puck-moving ability to the Flames' defense core. Additionally, even with the condition of the first-round pick, Calgary gained an asset they use to draft or trade away in other deals. And judging by everyone unanimously penciling the Devils into next year's playoffs, that condition will never have a chance to play a factor. At 34, Markstrom was only going to get you so much in this wildly unpredictable goalie market.

Blackhawks and Islanders swap picks before draft

Chicago receives - 2024 1st round pick (#18), 2024 2nd round pick (#50)

New York receives - 2024 1st round pick (#20), 2024 2nd round pick (#54), 2024 2nd round pick (#61)

Grade

Blackhawks: B

They might have lost a pick in this one, but they were able to move up in both the first and second rounds. I'm not exactly sure what Blackhawks GM Kyle Davidson is thinking, but it would make sense to try to move up even higher in this year's first round.

Islanders: C

The Islanders are planning something, but no one is really sure. Their GM, Lou Amarillo, and staff are about as secretive as it gets to NHL front offices. They need to shed salary, so it shouldn't surprise anyone if they package one of these picks with a contract like Jean-Gabriel Pageau's to relieve some of that cap ceiling pressure. Look out for the Islanders to take a big swing at a high-end forward like Nikolaj Ehlers or Martin Necas.

Lightning brings back Ryan McDonagh

Nashville receives - a 2024 7th-round pick and a 2025 2nd-round pick.

Tampa Bay receives - Ryan McDonagh, Edmonton's 2024 4th-round pick.

Grades

Predators: A

The Preds made out pretty well in this deal despite the loss of McDonagh on their blueline. They'll need to replace him in free agency or trade, but they should have plenty of cap space after shedding McDonagh's remaining two seasons of his 6.75 million dollar per year contract. The Predators had depth on defense and wanted to take a swing for a big-name forward this off-season. With the added high draft pick and cap space, they should be involved in plenty of speculation over the coming weeks. Bonus points for GM Barry Trotz making this work at the request of McDonagh himself.

Lightning: C

The Lightning are a better team after this making trade heading into next season. Ryan McDonagh put together a sneakily good where he put up 32 points while playing tough defensive minutes. At 35, McDonagh wanted to finish the rest of his career in Tampa and help them win another cup, which is in the cards for a roster as talented at the top as Tampa Bay. The Bolts will keep taking shots until they're out of ammunition, and they almost are. After trading their 2025 2nd rounder as a part of this deal, the Lightning only have one pick in the first three rounds over the subsequent two drafts, and that's their 2025 3rd (yikes).