NHL Trade Roundup: Blockbuster Deals Shake Up NHL Ahead of the Entry Draft

Hey folks. As the 2026 NHL Entry Draft draws closer, general managers across the league are wasting no time reshaping their rosters. We've already seen teams move premium draft capital, exchange top prospects, and make bold decisions that could alter both their short-term outlook and long-term direction. Some organizations are pushing their chips toward immediate contention, while others appear focused on accumulating assets and building toward the future.

The result has been a fascinating mix of strategy, risk, and opportunity. Several franchises have already made franchise-defining moves, creating ripple effects that fantasy managers will be tracking closely for years to come. Whether it's a team betting on proven talent, gambling on upside, or doubling down on a rebuild, these trades have the potential to significantly impact depth charts, player value, and organizational trajectories moving forward.

Let's dive into these huge moves as the draft approaches and see who got better now, and who is building their future.

Make sure to check out our Fantasy Hockey Trade Analyzer. Real-time trade insights at your fingertips that give you an in-depth snapshot of each player's true market value - all season long. Powered by AI; refined by our experts.

Flames and Devils Trade

To the Calgary Flames: Simon Nemec, Maxim Tsyplakov

To the New Jersey Devils: Etienne Morin, second-round draft pick (2026), first-round draft pick (2027, top-10 protected), first-round draft pick (2028, top-10 protected)

Fantasy Breakdown

The Calgary Flames made one of the boldest moves of the offseason by acquiring Nemec and Tsyplakov from the New Jersey Devils in exchange for Morin, a second-round draft pick (2026), and a pair of top-10 protected first-round picks in 2027 and 2028. Whenever multiple first-round picks are involved, the hockey world takes notice, and this deal is no exception.

Nemec is still a young defensemen with plenty of upside, and there is certainly value in acquiring a player who was once viewed as a cornerstone piece. He possesses strong puck-moving ability, good mobility, and the potential to play significant minutes for years to come. Calgary is clearly betting that a change of scenery and increased opportunity will allow him to take another step in his development.

That said, I can't help but feel the Flames paid a premium price here. Nemec is a good player, but I don't view him as an elite defensemen at this stage of his career. In fact, there are several teams around the league where he may not even project as a top-four option today. Giving up two first-round picks and additional assets for a player who still has significant questions to answer feels like a major gamble.

The top-10 protections add another layer of intrigue. Calgary is essentially betting on itself over the next several seasons, and the protections provide at least some insurance if things go sideways. At the same time, those protections raise an interesting question: are the Flames preparing to make additional moves to become more competitive before moving into their new arena? This trade certainly suggests they believe they are closer to contention than some outside observers may think.

From a fantasy perspective, Nemec benefits the most from this move. A larger role could create additional opportunities for ice time, offensive deployment, and long-term fantasy growth. Dynasty managers should be paying close attention to how Calgary chooses to utilize him moving forward, while keeping in mind +/- for those leagues who have this as a category. It is still Calgary, after all.

For New Jersey, this feels like a tremendous return. Even in the worst-case scenario where the protections come into play and the first-round picks slide, the Devils still walk away with significant draft capital for a player they were apparently willing to move. To me, this is the side that comes out ahead today.

Perhaps the biggest takeaway is what this deal could signal about New Jersey's future plans. Acquiring this much draft capital suggests an organization that may be preparing for broader changes, and I would not be surprised if this is only the beginning of a larger roster reshaping. Whether you call it a rebuild or a retool, this trade certainly feels like the first step toward something bigger.

Nemec had 11 goals, 15 assists, and two powerplay points in 68 games played as a defensemen. He also had 101 shots on goal, 23 hits, and 104 blocked shots. 

Tsyplakov had two goals, two assists, and zero powerplay points in 49 games played as a forward. He also had 42 shots on goal, 83 hits, and eight blocked shots. 

Senators and Sharks Trade

To the Ottawa Senators: William Eklund, Kasper Halttunen, Brandon Svoboda

To the San Jose Sharks: Ninth overall pick (2026)

Fantasy Breakdown

The Ottawa Senators continued reshaping their roster by acquiring Eklund, Halttunen, and Svoboda from the San Jose Sharks in exchange for the ninth overall pick in the 2026 NHL Entry Draft. This is one of those trades that feels significant for both organizations, even if it may not carry the same headline appeal as a blockbuster as some of the larger deals we've seen recently. That said, this is a top-ten draft pick going for an up-and-coming superstar plus prospects - it's still huge!

From Ottawa's perspective, Eklund is clearly the centerpiece of this transaction. The Senators have already assembled a young roster with plenty of talent on paper, and adding a player like Eklund gives them another high-upside offensive piece who fits perfectly within their competitive timeline. He has already shown he can contribute at the NHL level coming off of a 50+ point season and still has room to grow, making him an attractive addition for a team looking to remain competitive while continuing to build for the future.

What surprised me most about this deal was San Jose's willingness to move on from Eklund in the first place. He has been a solid player for the Sharks and seemed like exactly the type of young talent rebuilding teams typically hold onto. That said, when you look at the bigger picture, the move starts to make more sense. San Jose already possesses one of the league's deepest collections of young prospects and premium draft assets, and now finds itself holding both the second and ninth overall selections in this year's draft.

That creates an interesting storyline moving forward. With so much young talent already in the system, I believe the Sharks could explore moving down from one of their first-round selections to further diversify their asset pool. Whether that happens remains to be seen, but adding another top-ten pick gives them plenty of flexibility. If I had to bet, it's that they move down the draft and trade their No. 2 pick on draft day if the Maple Leafs don't select Gavin McKenna. Let's see.

From a fantasy perspective, the biggest takeaway is Ottawa's continued effort to strengthen its offensive core after moving on from Brady Tkachuk. Eklund may not replace everything Tkachuk brought to the organization, but he does help fill some of the offensive void that was created. Dynasty managers should be encouraged by the opportunity that could await him in Ottawa, while Sharks fans will be hoping the ninth pick eventually develops into another cornerstone piece for the future.

Overall, this feels like one of the more balanced trades we've seen this offseason. Ottawa acquires a proven young NHL player and additional prospect depth, while San Jose adds another premium draft asset to an already impressive collection. Both organizations appear to be accomplishing exactly what they set out to do.

Eklund had 15 goals, 38 assists, and 16 powerplay points in 78 games played as a forward. He also had 176 shots on goal, 72 hits, and 51 blocked shots. 

Capitals and Blues Trade

To the Washington Capitals: Jordan Kyrou

To the St. Louis Blues: Connor McMichael, Milton Gastrin, 16th overall pick (2026)

Fantasy Breakdown

The Washington Capitals made one of the biggest moves of the offseason by acquiring Kyrou from the St. Louis Blues in exchange for McMichael, Gastrin, and the 16th overall pick in the 2026 NHL Entry Draft. It is the type of trade that immediately grabs attention because it involves a proven offensive talent changing organizations while a young player, prospect, and first-round pick head the other way.

From Washington's perspective, the appeal is obvious. Kyrou is an elite offensive talent capable of changing a game every time he steps onto the ice. His speed, scoring ability, and play-driving presence give the Capitals another dangerous weapon as they continue trying to maximize their competitive window. While the acquisition cost was significant, Washington clearly believes adding a player of Kyrou's caliber is worth sacrificing future assets.

That said, I do think the Capitals paid a slight premium. McMichael is still a young player who has not fully unlocked his potential at the NHL level, and a mid first-round pick always carries meaningful value. Gastrin adds another developmental piece to the package, making this a substantial commitment for a single player.

What makes this trade so fascinating, however, is that the biggest winner may not be Washington or St. Louis.

It may be Kyrou himself.

From a fantasy perspective, this is the outcome many managers were hoping to see. Kyrou has long possessed elite offensive ability, but it often felt like his situation in St. Louis prevented him from reaching his full ceiling. Whether it was deployment, expectations, organizational fit, or the pressure that came from a frustrated fan base, something never seemed to fully click despite the obvious talent.

A fresh start may be exactly what he needed.

Moving to Washington gives Kyrou an opportunity to reset, establish himself in a new environment, and showcase the offensive upside that made him such an exciting fantasy asset in the first place. If he performs at the level many managers believe he is capable of reaching, this trade could dramatically increase his fantasy value heading into next season. I would expect his stock in redraft leagues to rise significantly as managers begin projecting what he could accomplish in a more favorable situation.

For the Blues, the return is certainly respectable. McMichael provides a young NHL player with room to grow, Gastrin adds prospect depth, and the 16th overall selection gives the organization another valuable asset for the future. While I was not surprised to see Kyrou moved, this return helps explain why St. Louis ultimately decided to make the deal.

Overall, this is a trade that could benefit all parties involved, but fantasy managers should be paying the closest attention to Kyrou. Sometimes a player simply needs a new opportunity, and this feels like one of those situations. If he finally delivers the breakout many have been waiting for, this trade could end up being remembered as the moment his career truly took off.

Kyrou had 18 goals, 28 assists, and 14 powerplay points in 72 games played as a forward. He also had 173 shots on goal, 14 hits, and 28 blocked shots. 

McMichael had 14 goals, 32 assists, and five powerplay points in 78 games played as a forward. He also had 142 shots on goal, 45 hits, and 45 blocked shots.