After weeks of buildup, the NHL trade deadline did not disappoint on Friday. There were multiple stunning moves right at the buzzer, including the Boston Bruins moving two of their bigger names in Brad Marchand and Brandon Carlo. But that wasn't all the Eastern Conference had in store.
Out west, another arms race is wrapped up after the Dallas Stars and Colorado Avalanche made massive acquisitions to bolster their lineups for the stretch run to the playoffs. Look no further than Mikko Rantanen, who started the season with the Avs before he was traded to the Carolina Hurricanes in January. Rantanen was moved for the second time just ahead of the deadline, now landing with one of Colorado's top rivals, the Stars.
Those moves alone do not sum up all of the action that took place on Friday. With that in mind, let's take a look at the biggest winners and losers from a very active deadline day in the league below.
Winners
Dallas Stars
Entering Friday, the biggest question mark around the NHL was whether the Carolina Hurricanes were going to move Mikko Rantanen. The Hurricanes ended up cutting their losses by trading the 10-year veteran to the Stars in exchange for forward Logan Stankoven, a 2026 first-round pick, a 2027 first-round pick, a 2026 third-round pick and a 2027 third-round pick. Rantanen also signed an eight-year, $96 million contract extension ($12 million AAV) with Dallas prior to the trade being completed.
It's no secret that the Stars were already a Stanley Cup contender prior to the Rantanen trade. Now Dallas adds Rantanen to a deep forward group that already included Jason Robertson, Roope Hintz, Matt Duchene and Wyatt Johnston. Rantanen will likely slot onto the Stars' top line alongside Robertson and Hintz. It's hard to imagine a more talented top line around the league considering Dallas is adding a goal scorer of Rantanen's caliber. Rantanen has the fifth-most goals (190) in the NHL over the last five seasons with only Auston Matthews, Leon Draisaitl, David Pastrnak and Connor McDavid tallying more. When a team adds a top 5-10 player in the entire league, they're a massive winner.
Colorado Avalanche
Right behind the Rantanen acquisition comes the Avalanche, who on Thursday night landed star center Brock Nelson from the New York Islanders in exchange for defenseman Oliver Kylington, forward Calum Ritchie, a first-round pick in 2026 or 2027 and a conditional 2028 third-round pick. The Avalanche didn't stop working the phones as they also added Charlie Coyle from the Boston Bruins for Casey Mittelstadt in a swap of centers.
The Avalanche improved up the middle in a big way. Nelson definitely is a talented two-way player that could also help the Avalanche on the penalty kill. He's an immediate upgrade over Mittelstadt at that second-line center spot. Mittelstadt had been a tad disappointing since being acquired from the Buffalo Sabres at the 2024 trade deadline. Meanwhile, Coyle offers versatility with his ability to play the center position as well as on the wing. Coyle isn't insanely gifted from an offensive standpoint, but he provides a physical presence that can really bolster the production on Colorado's third line.
Florida Panthers
In a shocking turn of events, the Panthers reportedly landed star winger Brad Marchand in a trade with the Boston Bruins who elected to part ways with their captain. The Bruins clearly now see themselves as sellers with several other players on their way out. It's especially surprising considering that Marchand has been going head-to-head with the Panthers in the last two installments of the Stanley Cup Playoffs.
It's worth noting that Marchand is currently listed as week-to-week with an upper-body injury, so he won't make his Panthers debut right away. When Marchand does return to the ice, he provides a huge boost to Florida's lineup where he could slot onto the team's second line. When the postseason rolls around, Marchand provides the personality of a player that can get under the skin of an opposing team, much like Matthew Tkachuk when he's on the ice.
It's clear that the Panthers are attempting to win consecutive Stanley Cups based on the acquisitions of defenseman Seth Jones and Marchand.
Losers
Buffalo Sabres
The Sabres are a far cry from a playoff team this season, but they did manage to shake up their roster at the trade deadline. Buffalo traded center Dylan Cozens, defenseman Dennis Gilbert and a 2026 second-round pick to the Ottawa Senators in exchange for center Josh Norris and defenseman Jacob Bernard-Docker.
Cozens was a player that recorded 68 points (31 goals, 37 assists) just two seasons ago, but has had his fair share of struggles since then. Still, the talent was there, and the Sabres got a questionable return to ship him out. Norris is still relatively young at 25 and about to enter the prime of his career. However, he's had injuries, including three shoulder surgeries. As part of the deal, the Sabres also sent a second-round pick to Ottawa. If Norris stays healthy, he is likely the top center on Buffalo's roster, but it's a huge risk.
Carolina Hurricanes
The Hurricanes took a huge risk when they traded for Mikko Rantanen in January. As the trade deadline loomed closer, it appeared that Rantanen wasn't going to sign a contract extension to remain in Carolina beyond this season. It made sense for the Hurricanes to move off of Rantanen in order to avoid losing him for nothing. While they got a solid return for Rantanen, it's a tough pill to swallow from a big picture standpoint.
The Hurricanes went for broke at the deadline last year when they landed star forward Jake Guentzel in a trade with the Pittsburgh Penguins. Carolina fell short of chasing a Stanley Cup and during the offseason Guentzel ended up with the Tampa Bay Lightning. Fast forward to this season, and they parted ways with Martin Necas in order to acquire Rantanen. So for the second consecutive season, the Hurricanes swung and missed when they added a star forward that could've potentially put the team over the top.
