Real Kyper's Off-Season Trade Board 2.0: Who could go this summer?

As we inch closer to July 1, all indications are pointing to a Mitch Marner sweepstakes.

It’s important to know that many teams are figuring out how much space they have (or don’t have) to try and sign the cream of this year’s UFA crop, a 100-point player and terrific defensive forward. 

Could the Vegas Golden Knights or Dallas Stars get involved?

With the bar set so high in Vegas, I don’t expect George McPhee and Kelly McCrimmon to sit idle for long. There is plenty of speculation that they are getting ready to take a big run at Marner. This is where we’ll keep an eye on how expendable William Karlsson is to the Golden Knights. Jack Eichel is firmly in place down the middle for Vegas and commands big dollars already – plus he needs an extension before next summer – so teams see an opportunity to try and get Karlsson and are calling about the player. While Karlsson has been an integral player for Vegas since their expansion season, the lack of centre depth on the free agent market means he could bring back key assets to the Golden Knights while freeing up some much-needed cap space to do other business. If not Karlsson, some attention should be paid to Tomas Hertl, another centre who Vegas could move in the right deal.

Perhaps trading Karlsson and placing Alex Pietrangelo’s $8.8 million AAV on LTIR will be enough to land Marner in a projected $13-14 million range. There is real concern Pietrangelo’s injury is threatening enough to not only jeopardize his Olympic spot, but perhaps his entire season.

As far as Dallas is concerned, outside of a potential one-year deal for Jamie Benn, all eyes will now be focused on how they will get some fresh new talent to help support Mikko Rantanen. Could they take a serious run at Marner?

That may depend on the decision ownership and GM Jim Nill face on whether to re-sign Jason Robertson or cut him loose now with a trade. Robertson has one year remaining on his four-year $31 million deal signed in 2022.

The early word is the two-time 40-goal scorer may command as much as $12 million in AAV on a long-term deal, which may be too high for Dallas’ liking.

Trading Robertson could lead Dallas right into the mix for Marner.

I’m hearing as much as half the league will try and take a run at Marner in free agency, but the serious bidders will be established well before July 1. However, while the focus around Marner has to do with his free agent status, we can’t rule out the potential for a sign and trade here. For example, going back to Vegas and Karlsson, obtaining a No. 2 centre is as high a priority for Toronto as a top winger replacement for Marner this summer.

So, Marner ends up on my trade list and is perhaps the most interesting case to watch this week leading into the draft on Friday and Saturday, before free agency opens next Tuesday. 

Beyond Marner, the team that is getting the most calls in the league are the Buffalo Sabres. The Sabres were itching to get something going and already dealt JJ Peterka, who was on this list earlier in the week. But another key name, Bowen Byram, remains out there.

But this is just scratching the surface about what’s being discussed around the league. 

It’s a big week for everyone and we could see many teams cleaning up their salary cap picture through trades prior to July 1. Draft weekend is an important event, even though it’s decentralized this year, and we have an eye on plenty of trade action happening in the lead up.

With that in mind, here are some names we’re hearing about on the trade market with the Stanley Cup awarded and the off-season in full swing…

If Mitch Marner makes it to free agency, there is a chance he’d sign somewhere for less than the maximum seven years he’d be able to get on the open market. But what if he could end up in a market he liked and on a Stanley Cup contender?

It’s not out of the question that Marner could still seek maximum term and this is where a sign and trade could get interesting for everyone involved. For Toronto, allowing a sign and trade might be the best resolution of all. Dealing Marner would ensure they get something back for losing him, and doing so with a contract in place would bring a return that’s far more enticing and impactful than simply trading his negotiating rights. They might be able to bring in a roster player to replace him with.

For an acquiring team, this could also make the most sense. For one, they’d be getting him before the market opens, thus avoiding any bidding war and the uncertainty that brings. For another, a sign and trade would be the only way a new team could get Marner for eight years since Toronto would “sign” him to the contract before July 1 and then trade him. That’s key because a lot of these Cup contenders would be bumping up to the cap after signing Marner, and an eighth season would be one way for them to bring down the AAV. Every little bit counts. 

Once seen as nearly untouchable, there is now a question about how much the Stars will be willing to pay Jason Robertson on an extension, and if the better move is to trade him this off-season to maximize a return. Robertson scored 35 goals and 80 points this past season, but scored just four times in 11 playoff games, and has fallen from his career-highs of 46 goals and 109 points from two years ago. 

Robertson makes $7.75 million against the cap for one more season, after which he’ll be an RFA, so he can extend this summer. But since Robertson will be eligible to test unrestricted free agency in 2027, an extension will have to consider the expensive UFA years being bought up. 

The feeling is the ask could be as high as $12 million on an extension, which leaves Dallas facing a big question: are they paying a player who can help them get into the playoffs, or someone who will help them win in the playoffs? The Stars are already paying $12 million to Mikko Rantanen. 

Dallas has just $2.76 million in cap space this summer and may decide to move Robertson’s money to re-invest in other ways after three consecutive eliminations in the Western Conference Final has the front office thinking creatively about how they get another step better.

It’s a big week for the Canucks, who have six days to consider moving Pettersson without any limitations before a full no-movement clause kicks in on July 1. He managed just 15 goals and 45 points in the first year of an eight-year contract that pays him $11.6 million against the salary cap.

Vancouver must be careful with how it proceeds, however. Every move the team makes in the next two years must be done with Quinn Hughes in mind, seeking ways to be more competitive so the 25-year-old superstar defenceman re-ups before his contract expires in 2027. After already trading out J.T. Miller during the season, the Canucks have a need to add centremen already, so the timing of a Pettersson deal may not be quite right. However, despite his down year offensively, he still has the potential to climb back towards being a 100-point player, so his value hasn’t taken as big a hit as many assume.  

If the Maple Leafs lose Marner to unrestricted free agency as expected, they’d quickly need another winger for the top six. While the team could explore other players in free agency to fill that hole, the trade market is another option for the Leafs. 

We know GM Brad Treliving wants to change the core of this team, but what does that look like past Marner’s departure? Trading Morgan Rielly is an option that could present itself and, if the right return comes across his desk, Treliving would consider taking it. 

But the thing is, that decision isn’t entirely going to be Treliving’s to make. Rielly has five years remaining on a contract with a $7.5 million cap hit and a full no-movement clause, so there would need to be a mutual understanding between all sides that a change of scenery is in everyone’s best interests. 

Anticipation is growing that a Rasmus Andersson trade will happen at some point this off-season, though this week’s NHL Draft is a key event that could bring about such a move. Andersson is entering his last season under contract with Calgary and will have a chance to test unrestricted free agency in his prime at age 29 next summer. 

The rebuilding Flames have to weigh the chance they have of extending him with what they could get via trade to help them in the future. His end of season press conference felt like something of a farewell and countless teams will be interested in his services, even for just the one season. The Toronto Maple Leafs were interested in acquiring him last trade deadline and could jump back in now. 

With just two years remaining on his contract and the Pittsburgh Penguins one of the few selling/rebuilding teams in the league, it’s becoming more likely that Erik Karlsson will be traded by the day. When originally signed, his AAV was $11.5 million, but after the San Jose Sharks retained money when they traded him to Pittsburgh in 2023, Karlsson counts for just $10 million on the Penguins’ books. That rate would surely be cut further as Pittsburgh would accept retention to maximize their return on the player today. 

One thing to keep in mind is that Karlsson will be paid a $5 million signing bonus on July 1, meaning this is a move that is more likely to happen in the summer than during the busy period of the draft and opening of free agency. After that bonus is paid, Karlsson will be owed just $11.5 million total in the final two years of his contract, making the financial burden far more palatable to the buying team. 

The fact Seth Jones -- whose perceived value had taken a hit in Chicago – fit in so well and contributed so much in a better system with the Florida Panthers will lead some to pause on Karlsson. Could the 35-year-old have the same type of resurgence in a better circumstance?

It’s not often you see a player like this show up in an off-season trade list. Rossi is a 23-year-old centre, coming off a career season in which he scored 24 goals and 60 points, playing for a team that had for years been searching for a top-six pivot. But by the time the Wild got to the playoffs in 2025, Rossi had been demoted to the fourth line and had one of the lowest average even strength ice times per game on the team.

Rossi is a restricted free agent this summer, making this situation even more urgent for the Wild to resolve. If unsigned by July 1, Rossi could become an interesting offer sheet target and a high enough AAV could make Minnesota uncomfortable as they also need to figure out what Kirill Kaprizov will get on a monster extension, which he will be eligible to sign this summer as well.  

What does Martin Necas want? We could find out before too long. The last time his contract came up, Necas was a member of the Carolina Hurricanes with a 71-point season in his past, but also coming off a down year (slipping to 53 points). He signed a short-term, two-year deal with the team and then was traded to Colorado six months later in the first Rantanen blockbuster. 

Now, Necas is a year away from becoming a UFA and this time coming off another career season in which he scored 27 goals and 83 points between the Canes and Avs. In Colorado, Necas largely delivered on his promise, scoring at just under a point per game pace and fitting in well on the Avalanche’s top line. This will give him a lot of negotiating power and, as the salary cap rises, his number on an extension will, too.

After Colorado traded Rantanen, a homegrown superstar talent, over how much money he was seeking on an extension, it will be interesting to see how they perceive Necas who produces less and was brought in from the outside.

The Necas situation is no different than that of Robertson or Andersson: the team either has to dive into and embrace an expensive extension, or trade the player off the roster. Colorado cannot afford to do what the Leafs are with Marner (and possibly John Tavares) and watch a top producer walk out the door for nothing. The Avs have to be asking themselves if Necas is a player who can help them win.

In a growing salary cap environment, Necas could get $10 million-plus for sure.

Pressure is mounting on GM Kevyn Adams to get the Sabres on track after the likes of Ottawa and Montreal leaped over them and into the playoffs this past season. It’ll be a delicate balance to not fall back in a rebuild, while also exploring trade options around a few very solid players. 

One of those is Bowen Byram, an RFA this summer who is only two years away from being able to become a UFA. It’s possible Byram becomes a target for an offer sheet, though he could also seek to slow walk himself to the open market as a 25-year-old. 

Where does that leave Buffalo? They have already invested tons on the blue line, with Rasmus Dahlin making $11 million, Owen Power at $8.35 million and Mattias Samuelsson at $4.285 million, all on long term deals. If Byram’s extension is around $7 million, will Buffalo be spending too much on its back end? The left shot defender is only 23 and coming off a career-best offensive season so if the Sabres do move him, they should be able to nab a nice return. 

After being eliminated in Rounds 1 and 2 the past two seasons, the always aggressive Golden Knights will be ambitious in going about their business this summer. William Karlsson is a likeable player who the team would prefer to keep, but if they're going to continue to act as aggressively as we think they will in chasing after someone such as Marner, they'll have to create some space and Karlsson's name is being bantered more than anyone else's.

Vegas enters the off-season with $9.62 million to work with, which is the seventh-least league-wide, and not enough to land the biggest fish (though Alex Pietrangelo’s health situation could change that picture). As mentioned off the top, with Eichel already entrenched as the top line centre, 32-year-old Karlsson could be the trade candidate who it makes the most sense to move. There are a lot of teams seeking help down the middle and not a great depth at the position, so the Golden Knights are in a good position to land a meaningful return.

Karlsson makes $5.9 million against the cap for another two years and has a 10-team no-trade list. However, teams need options and Karlsson may not be the only centre Vegas is open to trading. The Carolina Hurricanes, for example, have called on both Karlsson and Hertl. While Karlsson may be the more likely of the two to move right now, keep an eye on Hertl as well because he's not an untouchable asset. Hertl makes $6.75 million against the cap through 2029-30 and has a modified no-trade clause.

The Chris Kreider trade has given the Rangers more breathing room under the cap, with $13.172 million in space available. Between K’Andre Miller and Will Cuylle there are two important RFA deals to sign, though Miller could still end up on the trade block this summer. 

Still just 25 years old, Miller is coming off a disappointing season individually, leaving the Rangers unsure whether a short- or long-term deal is best, or if trading him now will be the better way to position the team to return stronger in 2025-26. The range of possibilities for Miller this summer is wide – sign a contract that makes him a centrepiece of the core, or end up on another team entirely. 

Miller still oozes potential, plays on the penalty kill, and averaged more even-strength ice time than any other Ranger this past season.

GM Tom Fitzgerald vowed to find more offence this summer and that he wouldn't return with the same group of players in 2025-26. Erik Haula has already been moved out, traded to the Predators last week, but we should expect more from the Devils.

Dawson Mercer appeared on my last trade list and remains there in our second look to the off-season. This is a player who will turn just 24 early next NHL season and is still full of potential, so there will be a market for him. But he's now two years removed from a 27-goal, 56-point breakout season and, after failing to hit the 20-goal plateau in 2024-25, he might be a player the Devils try and use to find a better roster fit.

After re-signing centre Brock Nelson, the Avalanche have only $1.2 million in cap space to work with. And while they made a lot of changes to the roster during this past season and, on paper, don't have to change too much, it's still believed they could surprise and strike at the bigger names available this summer.

To do that, salary cap space needs to open up and Ross Colton could help the team achieve that. Making $4 million for another two seasons, Colton scored 16 goals and 29 points in 2024-25 and ranked 10th among all Avs forwards in average ice time per game. Between Coyle's $5.25 million appearing higher on our list, and Colton at $4 million, we shouldn't be surprised if the Avalanche move one of those players, but it's also possible both will be in play if it puts Colorado in position to take a run at Marner.

The Seattle Kraken are expected to be among the busiest teams this summer as they seek a way to return to the playoffs after missing for the past two years in a row. They’ve already added Mason Marchment and Joe Veleno, while moving out Andre Burakovsky after three disappointing years. That is just going to be the start. 

Jamie Oleksiak could be a helpful piece for the Kraken to move into the next season with, but it will also be his last under contract so all options will be looked at. Oleksiak would be an attractive trade candidate for several teams, especially in reaction to the Florida Panthers winning another Stanley Cup with a large back end. Oleksiak fits that bill, a 6-foot-7, 252-pound blue liner who led the team in blocked shots and played often on the penalty kill. His $4.6 million cap hit is great value, which should help the Kraken maximize a return if they do in fact end up moving him. 

The Philadelphia Flyers are a team to watch this summer as they make efforts to move the competitiveness of the roster to the next level. They have $15.1 million in cap space after acquiring Trevor Zegras, so aren’t starved to dump salary, but will be open to moving parts of the roster if it means upgrading the team overall.

Rasmus Ristolainen was on my trade list all season long, but the Flyers don’t have to rush to move him since he has another two years left on his contract still, at a $5.1 million AAV. He’ll turn 31 in October and his a large, physical, right shot defender coming off a bounce back season, so the market could be blossoming for a player of this type. The Flyers can remain patient on the player, but Ristolainen will remain on my trade list through the summer.

As we’ve mentioned at times throughout this piece, the centre market is full of buyers so it’s a perfect time to a seller to explore the market. Andrew Copp signed a five-year contract with a $5.625 million cap hit to join Detroit in 2022 when he was coming off a career-best season, but he has not built on that and, in fact, has had declining offensive totals in each of the past three years. 

That’s not the best sell job on this player, which is why GM Steve Yzerman could be open to retaining a hefty amount of Copp’s cap hit for the next two years. Ideally the Wings would do that if it meant getting a return similar to what Philadelphia got for Scott Laughton (a first-round pick). Copp has a 10-team no-trade list in his contract.

The Panthers are trying to figure out if they have enough room to keep pending UFAs Sam Bennett and Aaron Ekblad, with $19 million in cap space currently. But there's some feeling they could perhaps also squeeze in Brad Marchand with some extra savings. This is why Evan Rodrigues is being contemplated as a trade candidate. The 31-year-old was a productive member on back-to-back Stanley Cup winners (15 points in both playoff runs) and makes $3 million against the cap for another two seasons.

It may not be so easy as trading him and being guaranteed to keep all three, however. Marchand's persona is growing daily and where his contract value ends up outside of Florida may shock some people. But he loves Florida and the Panthers would love to keep him. If Marchand wants to stay, how much less is he willing to take? The Panthers are in tough to keep all three and have to move out as much money as possible to make an offer that Marchand can seriously consider, which is why Rodrigues is one to watch as a potential cap casualty.

TRADED OFF REAL KYPER'S LIST THIS SEASON: Seth Jones, Ryan Lindgren, Alexandre Carrier, Cam Fowler, Taylor Hall, Martin Necas, J.T. Miller, Marcus Pettersson, Drew O'Connor, Trent Frederic, Yanni Gourde, Reilly Smith, Carson Soucy, Brock Nelson, Dylan Cozens, Mikko Rantanen, Scott Laughton, Brandon Tanev, Charlie Coyle, Casey Mittelstadt, Brad Marchand, Brandon Carlo, Chris Kreider, Trevor Zegras, Evander Kane, JJ Peterka, Noah Dobson, John Gibson, Nic Hague