Now that the dust has settled on the 2026 NHL trade deadline, it's time to separate the winners and losers. Moves made in the days leading up to the deadline were factored in.
Winners
Anaheim Ducks
Bravo, Pat Verbeek. The Ducks general manager made arguably the best addition of the week, acquiring John Carlson from the Washington Capitals for a conditional first-round pick and a third-rounder in a stunner early Friday morning. Justin Faulk - albeit with an extra year of term - went for basically the same return despite being an obviously inferior player.
Rather than spending second-round picks to improve the fringes of the roster, Verbeek went out and got a true difference-maker for not much more. The Ducks built up their prospect cupboard and draft-pick capital over the years to make a move like this.
Carlson fills Anaheim's biggest need as a right-shot defenseman who can play on the top pair and quarterback an underwhelming power play. The 36-year-old, who's recorded 46 points in 55 games this season, has aged like fine wine. While he's not as fleet of foot as he used to be, Carlson is still a highly effective player who raises Anaheim's floor and ceiling. He's a pending unrestricted free agent, but don't be shocked if he re-signs. The Ducks will have plenty of cap space this offseason to make him a lucrative offer, and playing on a young, ascending team in beautiful Orange County could tempt Carlson to stay.
Nazem Kadri, Corey Perry
Sometimes getting back with your ex is the right move.
Kadri is reuniting with the Colorado Avalanche, while Perry is rejoining the Tampa Bay Lightning.
Kadri, who won a Cup with the Avs in 2022, reportedly wanted out of Calgary. (What veteran wouldn't given the state of the team?) For a while, it looked like it wouldn't happen, considering news of the trade didn't break until roughly an hour after the deadline. With Colorado having the same head coach and several of the same players from the 2022 team, Kadri should transition seamlessly. Plus, he gives the Avalanche an embarrassment of riches at center alongside Nathan MacKinnon, Brock Nelson, and Nicolas Roy.
Perry, meanwhile, is back in Tampa Bay on a Lightning squad that has the second-shortest odds to win the Stanley Cup. Although he won with the Ducks in 2007, Perry is likely salivating at the chance to get another ring after infamously being on the losing end of five of the last six Stanley Cup Finals, including one with Tampa in 2022. The 40-year-old is still an effective bottom-six forward, and the Lightning need depth.
Early sellers
Early reports that indicated it would be a buyer's market were quickly rebuffed by some of the moves executed in the days leading up to the deadline. Fourth-line-caliber centers (Michael McCarron, Nic Dowd) were shipped out for second-round picks. Third-line-caliber centers (Nicolas Roy, Jason Dickinson) got dealt for first-round picks. Third-pair-caliber defensemen (Connor Murphy, Tyler Myers, Logan Stanley, Luke Schenn) were traded for second-round picks and/or intriguing prospects.
Some deadline day returns for similar players weren't as fruitful. Notably, the Toronto Maple Leafs receiving only a conditional third-round pick for Scott Laughton was particularly underwhelming after they surrendered a first-rounder to acquire him last year.
The Winnipeg Jets snagging Isak Rosen from the Buffalo Sabres in exchange for Stanley and Schenn is one of my favorite returns of the late-season frenzy. The No. 14 pick in 2021, Rosen has been excellent in the AHL and could thrive with more opportunity in Winnipeg.
There's an evergreen theme among many of these transactions: No matter how much the game changes, playoff-bound teams love to add players with size, grit, and postseason pedigree around the deadline. If you're a rebuilding club, stock up on those types of players in the offseason and reap the benefits when contenders get desperate.
Foligno brothers
It must be incredibly special to play sports at the highest level alongside your sibling. Nick Foligno has spent 19 years in the NHL, and Marcus Foligno has suited up for 15, but the brothers had never been teammates in the pros until the Chicago Blackhawks traded Nick to the Minnesota Wild. Both players are chasing their first Stanley Cup and have a golden opportunity to win one together on a great team.
Losers
Carolina Hurricanes
The Hurricanes were in excellent position to make a splash but did nothing other than add some toughness to their fourth line in Nicolas Deslauriers. That's awfully disappointing for the Eastern Conference club, which entered the deadline with four first-round picks over the next three years, a strong farm system, and more cap space than any other contender.
While Carolina doesn't have any glaring holes, upgrading the second-line center spot should've been a priority. Can it win a Cup with 5-foot-8 sophomore Logan Stankoven in that role? He's likely better suited to play wing. Adding a goalie would've helped, too, given Brandon Bussi's inexperience and Frederik Andersen's struggles. A depth defenseman wouldn't have hurt either.
The Hurricanes have a pretty straightforward path to another Eastern Conference Final, considering how weak the rest of the Metropolitan Division is. But nobody should be surprised if they're once again outmatched by whoever emerges from the superior Atlantic Division, in part because of the inaction by GM Eric Tulsky.
Alex Ovechkin
Ovechkin must be feeling like Will Smith in The Fresh Prince of Bel-Air finale. With Carlson traded, Ovechkin is one of just two remaining members of Washington's 2018 Stanley Cup-winning squad. (I guess that makes Tom Wilson a lingering Carlton Banks.)
I hate to even associate the word "loser" with the NHL's all-time leading goal-scorer, but it's fitting for this exercise. The Capitals are four points out of a playoff spot and traded away a cornerstone player for draft picks. That has to be a gut punch for Ovechkin, who called it "probably the toughest day in my career." With Ovi's NHL future up in the air during the final year of his contract, it would be a shame to see him go out on a team playing meaningless games down the stretch.
New York Rangers
Prior to the deadline, I wrote that Chris Drury's top priority as Rangers GM should be regaining the fan base's trust after the disastrous Artemi Panarin trade. A great way to do that would've been getting a nice return for Vincent Trocheck. But Drury didn't trade him at all, creating more doubt as to whether he's the right person to lead the franchise through this retool/rebuild.
Trocheck is having a productive season, coming off an impressive performance at the Olympics, and signed to a fair contract through 2028-29, not to mention he's the type of two-way center who's typically coveted by playoff contenders. He's 32 years old, so it's possible his trade value will never be higher than it is now. Failing to move him seems like a missed opportunity, especially with there being several obvious landing spots, including the Hurricanes, Wild, and Boston Bruins.
