March 8, 2025 | 7:45pm ET
BY DAVID PAGNOTTA, The Fourth Period
POST-DEADLINE BUZZ HAS MARNER FRONT AND CENTRE
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TORONTO, ON — Well, that was certainly an active trade deadline we witnessed on Friday, as big names swapped jerseys and a last-minute shocker ripped at the heartstrings of Bruins fans across the continent.
There has been a lot of unpack from this week’s activity, and as I wrote about Monday, the rich did indeed get richer.
Colorado, Dallas and Florida swung for the fences. Toronto made two strong acquisitions. Tampa Bay beefed up. Edmonton and Winnipeg bolstered their lineups. Buffalo and Ottawa gave us the hockey trade we’ve craved.
On the opposite side of the spectrum, Boston blew it up, Los Angeles and Pittsburgh left us wanting more, and the New York Islanders had us scratching our heads.
Under the circumstances, Carolina received a great return for Mikko Rantanen. As I mentioned on NHL Network last night, he wasn’t just signing this week – he wasn’t signing with the Hurricanes, period. Moving him for Logan Stankoven, two first-round picks and two third-round picks was a good return. But for a team with Stanley Cup aspirations, that was a tough pill to swallow.
The Stars weren’t the only team in the mix for Rantanen, but it appeared he was only prepared to commit to an extension with them or the Panthers – otherwise, he was going to July 1.
The Maple Leafs, Kings, Panthers, Oilers, Vegas Golden Knights, and others, including teams not currently in a playoff position (Montreal?), poked around on Rantanen – some more seriously than others, like Toronto and L.A., more on that shortly – but without an extension, it was almost impossible for some clubs to pay a premium to acquire him.
Kings GM Rob Blake is believed to have taken a solid swing earlier in the week, offering a significant roster player as part of a return, but Rantanen wouldn’t commit long-term and that forced the team to pivot. While they asked about Brad Marchand, it appears Rickard Rakell as the focal point and that clearly didn’t materialize.
As I reported on NHL Network’s post-deadline program, Toronto was serious about Rantanen. The last package discussed included two prospects and two first-round picks – I haven’t confirmed who the prospects were, but I believe Nick Kypreos’ report of Easton Cowan and Fraser Minten, who was sent to Boston in the Brandon Carlo trade.
That package, however, wasn’t the only deal discussed. Originally, as both Elliotte Friedman and Chris Johnston have since reported, Mitch Marner was the ask, but he declined to waive his no-movement clause.
Late Wednesday, word started to creep out that Carolina wanted Matthew Knies in a package for Rantanen, but the Leafs were hesitant to do that and ultimately went with their big futures package. Were they close? It didn’t sound like Rantanen was prepared to commit to Toronto, and like L.A., the Leafs moved on (unlike L.A., they made two great additions).
I have been consistent with my reporting on Marner’s future and the expectation that he will be hitting free agency this summer. I’ve written about it multiple times and spoke about it several times on air, including last night. He loves Toronto and won’t close the door, but he wants a competitive contract and one that starts at $104 million over eight years.
Contract negotiations haven’t taken place this season, by design. Leafs GM Brad Treliving and Marner’s agent Darren Ferris will get back to the drawing board once Toronto’s season is over, but those discussions will surely have the cloud of the Leafs considering trading him hovering over them.
Once Marner hits July 1, he can no longer sign an eight-year deal with Toronto. The Leafs have that in their pocket. Will Marner care, especially if a team is willing to give him $14 million a year over seven-years? Sure, $98 million isn’t $100 million, but at that price point, who cares?
Several teams are going to be following the Marner situation closely. If he does in fact become an unrestricted free agent, I fully expect teams like Chicago, Utah, Los Angeles, Calgary, Philadelphia, San Jose, Pittsburgh and the Islanders to enter the chat. And I do wonder about Vegas, who expressed trade interest in him last off-season.
The salary cap is climbing, and so will Marner’s AAV. Just how high remains to be seen.
Rantanen to Dallas. Marchand to Florida. Laughton to Toronto. Coyle to Colorado. Cozens to Ottawa. Tanev to Winnipeg. 24 trades. 47 players. The 2025 Trade Deadline has come & gone, and @DennisTFP & I join @KatePettersen_ to recap all the action and what didn't happen @CCMHockey pic.twitter.com/QKgC35jHSH
— David Pagnotta (@TheFourthPeriod) March 8, 2025
HERE AND THERE
Florida was in the mix for Rantanen, as well, but their asset pool was limited and that potential swap appeared to be a complicated one. Plus, they came out looking great by acquiring Marchand.
The Hurricanes tried to make another move for a mid-six forward but ran out of time.
It is my understanding the Islanders and Kyle Palmieri either have the parameters of an extension in place or have fully agreed to an extension, but when it gets filed is anybody’s guess. As of Friday morning, the offer presented by the club was two-years worth in between $4.25 million and $5 million per year.
I first reported the Islanders pitched Brock Nelson a three-year deal. He wanted more term and after talks ended Thursday, Lou Lamoriello moved to trading him and pulled off a great deal. There are reports the AAV of the three-year deal was $7.5 million, but I can confirm the actual figure was higher.
Tampa Bay was in on Nelson before they acquired Yanni Gourde and Oliver Bjorkstrand from Seattle.
The Kraken also generated interest in Jared McCann and Jamie Oleksiak – Jets were in on the defenceman before acquiring Luke Schenn.
There was one team willing to trade for Evander Kane, but I believe that club was on his no-trade list. I haven’t confirmed the club, but word is he was not interested in signing off on the move.
One more Edmonton point: Trade talks for Rantanen never materialized past a phone call or two. They didn’t have the assets to pull off a move and things never got serious.
The St. Louis Blues didn’t get in on any action, but they maintained discussions about Brayden Schenn. Perhaps something they reexamine in the off-season.
New Jersey was one of the teams in on Schenn and Nashville’s Ryan O’Reilly. But it seemed like Devils GM Tom Fitzgerald wasn’t interested in paying a premium now with Jack Hughes out until next season.
There was some chatter the Anaheim Ducks took calls on Ryan Strome. I don’t think anything ever got serious.
It sounds like the contract ask from Fabian Zetterlund was significant. Sharks GM Mike Grier said contract negotiations didn’t influence his decision to move him to Ottawa, but it was certainly a big consideration.
Utah was open to trading Matias Maccelli in a package, but only if the team was going to upgrade its roster. This may be revisited in the summer.
David Pagnotta is the Editor-in-Chief of The Fourth Period, an Insider at NHL Network, and a host and Insider on SiriusXM NHL Network Radio. Follow him on Twitter and Instagram.
Past Columns:
Mar. 3, 2025 - Deadline Week: Will the rich get richer?
Feb. 24, 2025 - Stars may go big-game hunting ahead of deadline
Feb. 8, 2025 - Does Marner determine if the Maple Leafs go all-in?