As the clock ticks down to the 2025 NHL trade deadline on Friday at 3 p.m. ET, the noise can feel dizzying.
Certain names and teams dominate the discourse – have you heard enough about Mikko Rantanen yet?
But every team is being discussed in one form or another. And with this year’s playoff race feeling pretty wide open, we’re here to identify which teams are most likely to make a splash this week.
Here are the most likely big buyers in two categories: the Contenders and the Challengers.
The Contenders
These five clubs want to make meaningful playoff runs and have assets in hand that they can use to strengthen their rosters.
Florida Panthers
Now in his fifth season as Panthers GM, Bill Zito has made a habit of swinging for the fences, including some bold trade-deadline deals. They haven’t all worked out, but Zito’s Panthers are a rare example of an NHL team that has made steady progress with no major setbacks under his watch.
Now that he has a Cup, Zito isn’t veering from his game plan. Acquiring Seth Jones was a bold move that could have enormous upside, and Matthew Tkachuk’s injury has opened up cap space that can be used to add more talent as Florida revs up for a run at a repeat.
Toronto Maple Leafs
Maple Leafs GM Brad Treliving did his heavy lifting over the summer, making the Leafs look more like a playoff team with disciplined coaching, a stouter blueline and reliable goaltending. Now, it’s time to go for it despite injuries, and the most obvious position to bolster is at center.
A steady veteran who won’t get rattled under pressure would fit well. But players like that could spur bidding wars in this year’s seller’s market.
Edmonton Oilers
After reaching Game 7 of the Stanley Cup final, the Oilers are in a similar position to the Leafs. Their need to upgrade is made even more urgent by disappointing recent play and questions about the chemistry of this year’s group. Last year, GM Ken Holland hit the right notes by adding Adam Henrique and Sam Carrick for center depth. Is acquiring Trent Frederic from the Boston Bruins enough proof that Stan Bowman can do the same in his new position? If not, the team must clear cap space to make another trade unless Evander Kane is ruled out for the regular season.
Tampa Bay Lightning
The Stanley Cup Playoffs are a war of attrition. While the Tampa Bay Lightning aren’t as deep as they were when they won their back-to-back Cups, Andrei Vasilevskiy is heating up, and the additions of proven playoff performers Jake Guentzel and Ryan McDonagh strengthened this year’s core group.
Lightning GM Julien BriseBois has a history of making bold, unexpected moves at the NHL trade deadline. He already placed Cam Artkinson and Logan Brown on waivers on Tuesday. Rather than speculate on what he’ll pull off, let’s just assume that we’ll be impressed.
Vegas Golden Knights
Out west, GM Kelly McCrimmon is the master of unexpected moves in Vegas. He earned a Cup ring for his wizardry even before he landed Tomas Hertl out of thin air last spring.
The Golden Knights have little cap space available for deadline moves. That’s never stopped McCrimmon before.
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The Challengers
Whether they’re in a wild-card spot or knocking at the door, these three squads have incentive to signal to their players and fans they want to be part of this year’s playoff entertainment. They also have the assets and cap space to potentially outbid their rivals for top trade assets.
Columbus Blue Jackets
When Don Waddell added GM duties to his president portfolio with the Carolina Hurricanes in 2018, he immediately got his team to the playoffs after a nine-year drought. Now, he’s on track to turn a similar trick in Columbus, where a cloud of unimaginable grief has transformed into optimism and hope.
If the Blue Jackets are this season’s feel-good team of destiny, Waddell has virtually limitless cap space to reward his players and see how far the good vibes can take them.
Detroit Red Wings
The Red Wings got achingly close to booking their first-ever playoff games at Little Caesars Arena last spring. Now, under the steady hand of Todd McLellan, they look ready to leap that hurdle.
Last year, Steve Yzerman’s most significant in-season acquisition was Patrick Kane, signed as a free agent in November of 2023. This year, Yzerman could disrupt some other teams’ quests for a center if he gets aggressive about filling the role of injured Andrew Copp.
Utah Hockey Club
What better way to drum up excitement for a new franchise than to make a late-season surge into a playoff spot? Ryan Smith’s Utah Hockey Club is knocking at the door.
While Utah is best known for the young talent that came over from the Arizona Coyotes, the current roster also includes experienced Cup-winners, such as Mikhail Sergachev and Ian Cole. Both can offer big back-end minutes and keep the mood in the room on point for a stretch run and beyond.
Unlike those years in the desert, spending won’t be a concern for Utah if a deadline deal is right. Cap space also abounds, and the cupboard is stuffed with draft picks and prospects to use as trade bait. Ignore GM Bill Armstrong at your peril.
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