Evgeni Malkin #71 of the Pittsburgh Penguins (Photo by Bruce Bennett/Getty Images)
Buckle up, because things are about to get fast and furious in terms of player movement in the NHL!
“We’ve already seen the volume of player movement increase, and now it’s going to get even crazier with free agency also driving the NHL trade market even more,” an NHL executive told RG Media on Saturday night.
The 2025 NHL Entry Draft has come and gone, and now the focus shifts to NHL free agency, which kicks off on Tuesday. However, the NHL trade market has already picked up again over the last week, with a total of 26 NHL players or prospects switching teams since last Monday. Current NHLers like Trevor Zegras, Evander Kane, JJ Peterka, Michael Kesselring, Josh Doan, Frederick Gaudreau, Daniil Tarasov, Charlie Coyle, Miles Wood, Noah Dobson, Jordan Spence, Connor Clifton, Conor Timmins, John Gibson, and Petr Mrazek all switched teams in the frenzy of trade activity leading into and at the NHL Draft.
NHL trade activity is expected to increase even more over the next two weeks, with a thinner-than-usual free agent market in terms of high-end skill.
“I think what we’re seeing is that everyone is looking for the same thing in free agency—right-shot defensemen and second-line centers,” the aforementioned NHL executive pointed out. “So more teams are going to look to the trade market, where you can get creative with assets in exchange for what you need, even if it’s in high demand.”
With centers Sam Bennett and John Tavares re-upping over the weekend, the unrestricted free agent center market got even thinner. Mikael Granlund, Christian Dvorak, and Claude Giroux are arguably the three biggest names left in the UFA center market, but one could argue that only Granlund could be a second-line center on a legit Stanley Cup contender.
With that in mind, here’s what to watch based on conversations with NHL executives, scouts, and agents over Draft weekend:
Expect More Penguins Trades
As RG reported on Saturday, the Pittsburgh Penguins are expected to be extremely busy as they tear it down and rebuild. Veteran forwards Bryan Rust and Rickard Rakell, and defenseman Erik Karlsson, are already gaining interest—but what about longtime Penguins center and future Hall of Famer Evgeni Malkin?
The Penguins have already let it be known that they will not offer Malkin a contract extension past this coming season, so either he retires after the 2025–26 season or the second overall pick from the 2004 NHL Entry Draft signs elsewhere as a UFA next summer.
“Or he gets traded, gets a chance to earn an extension somewhere else, or increases his value for the free agent market next year,” an NHL executive opined to RG on Saturday. “That would send a real message—this is a full-out rebuild in Pittsburgh—and fuel [Sidney] Crosby rumors even more, but maybe it’s best for all involved. I mean, would a team like Montreal be interested in him as a mentor for [Ivan] Demidov that can also still play and be a stopgap in the middle this season?”
Another NHL source told RG he expects Malkin to get traded—but during the season, not now.
Canadiens Pushing Hard for More Big Trades
As reported first by Marco D’Amico of RG, the Montreal Canadiens began a hard push to acquire right-shot defenseman Noah Dobson in the days leading into the NHL Draft, and that’s just what they did on Friday when they sent the 16th and 17th overall picks and forward Emil Heineman to the Islanders in exchange for Dobson. Throughout the weekend and even before, the Canadiens have also been linked to St. Louis Blues winger Jordan Kyrou.
“That is real,” another NHL executive told RG on Saturday when asked about the Kyrou–Canadiens rumors. “I know they’ve had more than one conversation.”
Another Blues player to keep an eye on—not just with the Canadiens—is St. Louis Blues captain and center Brayden Schenn. The Blues turned down trade offers for their captain leading into the 2024 NHL trade deadline, but could he be available now?
“I know teams are still interested,” the same source told RG. “I don’t know where the Blues stand with Schenn now, but teams are poking around.”
Schenn, 33, has three seasons left on an eight-year, $52 million contract that carries a $6.5 million cap hit. He has a modified no-trade clause with a 15-team no-trade list.
Will Matthew Knies Reach Offer Sheet Status?
There are many around the NHL waiting to see if the Toronto Maple Leafs will sign restricted free agent and star winger Matthew Knies by Tuesday. If they don’t, then Knies will be eligible to sign an offer sheet.
“There’s this undertone that we’re going to see more offer sheets this year, and he’s at the top of the list,” another NHL executive told RG. “I just can’t see the Leafs letting that happen if they’re losing Mitch Marner. Plus, I’m told Knies loves it there and wants to be the go-to guy on the wing now with Marner gone.”
With Knies’ girlfriend recently getting drafted by the Boston Fleet in the PWHL, there are rumors flying that he would sign an offer sheet with the Bruins, but this executive can’t see it getting to that point.
“Based on what I’m hearing, he gets signed by the Leafs,” the executive said.
Bruins Listening on Zacha. What About Geekie?
Speaking of the Boston Bruins, NHL trade chatter on Bruins forward Pavel Zacha has increased again, and the feeling is that the 6-foot-4, 207-pound, 28-year-old could be dealt this offseason.
“I know they had trade talks on him heading into the deadline, and his name is out there again right now,” an NHL source told RG.
Zacha has an eight-team no-trade list and is entering the third season of a four-year, $19 million contract that carries a $4.75 million cap hit.
According to another source, contract talks between the Bruins and restricted free agent forward Morgan Geekie are ongoing, but no substantial progress had been made as of Saturday. Geekie, 26, is coming off his best season yet, scoring 33 goals to go with 24 assists.
Geekie’s agent, Judd Moldaver, represents Edmonton Oilers superstar Connor McDavid, who is eligible to sign an extension on Tuesday.
James Murphy
