The NHL trade market has been a busy place over the past few weeks, and the rumor mill is churning.

Once we get through the holiday roster freeze (Dec. 20-27), names of possible trade targets will begin swirling around teams with increased speed leading to the March 7 deadline — whether those names emerge from insight, speculation, common sense or simply because a fan base is curious if a given player would be a good fit on their team.

This week, The Athletic asked its NHL staff to identify one player or pick each team should target in a trade. Some reporters chose big swings capable of drastically altering a franchise’s trajectory, while others took a more realistic approach.

Senior writer James Mirtle looked at all the proposed targets and came up with a reasonable acquisition cost. Each transaction was then assessed with the cost in mind. Does a deal make sense?

Here’s what we came up with.

Target: Mitch Marner, RW (TOR)* — Eric Stephens
(* Full no-move clause)

Cost: Patience to wait until July 1 and then sign him to a seven-year contract with $14.5 million AAV — Mirtle

Reality: It’s a pipe dream for sure, but Marner would give their forward group a jolt and would be a big fish for general manager Pat Verbeek to land after he struck out on Steven Stamkos and Jonathan Marchessault last summer. The Ducks could clear a lot of cap space if they traded Cam Fowler and John Gibson, and moved on from pending free agents Frank Vatrano, Brian Dumoulin, Robby Fabbri and Brock McGinn. Jacob Trouba could be off their books by the 2026 trade deadline. The problem here is making Anaheim attractive enough for Marner, and an overpay is likely necessary. And would Verbeek want the established Marner to set his pay scale, or the much younger Leo Carlsson — who could likely be his No. 1 center — for his prime years? — Stephens

Target: Brady Tkachuk, LW (OTT) — Fluto Shinzawa

Cost: Charlie McAvoy, RHD (BOS)* — Mirtle
(* Full no-move clause)

Reality: The Bruins are desperate for a young, skilled and physical forward. Tkachuk has ties to the area as a former Boston University Terrier. His father, Keith, is also from Melrose, Mass. And Brady plays Bruins hockey. But giving up McAvoy would be too high a price. It would create a problem for which the Bruins have no solution. — Shinzawa

Target: Chris Kreider, LW (NYR)* — Matthew Fairburn
(* 15-team no-trade list)

Cost: Mattias Samuelsson, LHD (BUF) — Mirtle

Reality: The Sabres are in dire need of another top-six forward. Kreider’s experience and ability to finish plays around the net would be a perfect match for what ails Buffalo’s forward group. Kreider would fit comfortably into the Sabres’ cap situation, especially if they moved Samuelsson and his $4.2 million cap hit. The Sabres have a surplus of left-shot defensemen, and Samuelsson has often been injured since signing his extension. This would be a risk worth taking if Kreider were somehow willing to come to Buffalo. — Fairburn

Target: Marco Rossi, C (MIN) — Julian McKenzie

Cost: Yegor Sharangovich, C (CGY) and a second-round pick — Mirtle

Reality: The Flames have sought a young forward between the ages of 18 and 23 whom they could keep long-term as they infuse younger talent around their nucleus. Just like Sharangovich, Rossi is a versatile forward who can play wing and center. If the Wild are quick to move on from him, you can expect the Flames to kick tires. You have to think, with the potential of teams seeking his services, that the asking price will go up. (It also helps that Rossi is playing at a high level while Sharangovich is off to a slow start.) But acquiring Rossi would be an upgrade on the slightly older Sharangovich. The Flames are also unafraid of parting with draft picks to acquire young talent and they have two second-round picks in 2025. If that’s what it takes, the Flames should be all over this move. — McKenzie

Target: Brock Nelson, C (NYI)* — Cory Lavalette
(* 16-team no-trade list)

Cost: First-round pick — Mirtle

Reality: The Hurricanes have been without a true No. 2 center for years. Last year’s Evgeny Kuznetsov experiment failed, but Nelson could be a short-term fix. A pending UFA, Nelson would bring size and scoring to Carolina’s top six, and he’s not a defensive liability. A first-round pick seems fair, but I’d expect the Hurricanes to get creative — as they did in acquiring Jake Guentzel last year — if they want to pry Nelson off Long Island. — Lavalette

Target: Second-round pick — Scott Powers

Cost: Alec Martinez, LHD (CHI) — Mirtle

Reality: The Blackhawks will likely be looking to move all of their expiring contracts at the deadline. In signing Martinez to a one-year deal this past offseason, general manager Kyle Davidson was hopeful Martinez would bring stability to the defense, help bring along the young defensemen and then draw trade interest. The Blackhawks would gladly welcome a second-round pick for him. — Powers

Target: Yanni Gourde, C (SEA)* — Jesse Granger
(* 23-team trade list)

Cost: First-round pick or top prospect — Mirtle

Reality: After completely re-working his goaltending, general manager Chris MacFarland hinted that he likely wasn’t done adding. The most likely addition is another middle-six forward, and Gourde checks a lot of boxes. He plays with energy and physicality and has proven he can elevate his game when it counts in the playoffs. A first-round pick or top prospect is a lot to give up, especially considering Colorado already traded its 2025 first-rounder to Philadelphia for Sean Walker. That might price the Avs out of this trade, but if they can find a way to make it work Gourde would be a perfect add. — Granger

Target: First-round pick — Aaron Portzline

Cost: A healthy Boone Jenner, C (CBJ)* — Mirtle
(* 8-team no-trade list)

Reality: There’s only one way a Blue Jackets general manager should ever consider trading Jenner: if Jenner wants to be traded. Jenner is not only the captain but the heart and soul of a franchise that is finally headed in the right direction and is not far from being consistently competitive. He’s also really grown in recent seasons in his ability to lead. Ivan Provorov for a first-rounder? Sure. Not Jenner. — Portzline

Target: Mikael Granlund, C (SJS) — Mark Lazerus

Cost: Two picks (second- and fourth-rounders) — Mirtle

Reality: What better way to replace a 32-year-old center who was a top-10 pick in the 2010 draft than with another 32-year-old center who was a top-10 pick in the 2010 draft? Tyler Seguin’s surgery gives the Stars both the need and the cap space to add some firepower to their middle six, and Granlund is having a career year in the final season of his contract. Two picks is a small price to pay. If the Islanders fall out of the playoff picture entirely and are willing to part with Brock Nelson, that’s another potential target. — Lazerus

Target: Trevor Zegras, C (ANA) — Max Bultman

Cost: Nate Danielson, C (DET) — Mirtle

Reality: The Red Wings could use more offensive punch, and Zegras — even with his flaws as a player — has that. His production has been down the last couple of seasons (and he’s now injured), but for a longer-view acquisition, he still would bring the kind of creativity and playmaking Detroit needs. He’s different from the kind of forwards Steve Yzerman has drafted with the Red Wings, but that’s sort of the point. He may not have those 200-foot elements Detroit covets, but he can break open a shift with his vision and passing. In this case, though, the cost isn’t worth it. Danielson is younger, cost-controlled, and still a skilled playmaker in his own right (even if not at Zegras’ level), while also bringing a more complete game. Zegras is a worthy target for the Red Wings, but not at this price. — Bultman

Target: Marcus Pettersson, LHD (PIT)* — Daniel Nugent-Bowman
(*Eight-team no-trade list)

Cost: First-round pick — Mirtle

Reality: Darnell Nurse’s improvement and Brett Kulak’s effectiveness on the right side means the Oilers might be more inclined to make a bigger swing up front. Here’s banking that an Evander Kane return keeps their focus on the blue line. Oilers general manager Stan Bowman told The Athletic last month that the price point for a defenseman could be more important in their decision-making than handedness. A first-rounder is a steep cost for a pending UFA, especially since the Oilers have their 2025 pick tied up in a trade with Philadelphia. The Oilers would likely need the Penguins to retain some of Pettersson’s $4,025,175 cap hit. But he’d be a good fit on the ice and is good buddies with winger Viktor Arvidsson. — Nugent-Bowman

Target: Tyson Barrie, RHD (CGY) — Sean Gentille

Cost: Third-round pick — Mirtle

Reality: Florida could use another option on its blue line, and general manager Bill Zito has said as much. That’s easier said than done, though, given the defending champs’ long- and short-term cap obligations and generally dry prospect pool. Barrie is a right shot who can help on the power play and would carry a minimum cost ($1.25 million AAV). The Panthers could use all of that, given that neither Adam Boqvist nor Uvis Balinskis has looked like much of an answer, and third-round picks don’t matter much for a win-now team. — Gentille

Target: Joel Farabee, LW (PHI) — Eric Stephens

Cost: First-round pick — Mirtle

Reality: This one is tricky. The Kings have played above expectations and they’re clearly out to win now, but it’s hard to buy into them being a true contender after a third straight first-round exit last spring. And while they kept their first-round pick for 2024, they mortgaged prior first-round choices for Kevin Fiala and Vladislav Gavrikov. Farabee, 24, has had a rough start for Philadelphia this year but he averages 19 goals every 82 games in his career and has the capability for more at a reasonable $5 million price point. While Trevor Moore is the latest in a cycle of left wings to play on the top line with Anze Kopitar, the defensively stout Kings could use another scoring winger to strengthen themselves against top-flight competition. But it’s going to take quite a package to get an affordable young forward who still has three years left on his contract after this season. Could a lottery-protected 2026 first-rounder and Alex Turcotte start the conversation? — Stephens

Minnesota Wild

Target: Brock Nelson, C (NYI)* — Michael Russo
(*16-team no-trade list)

Cost: First-round pick — Mirtle

Reality: It’s likely that the Wild plan to target Nelson, although they’ll first need to get back out of LTIR so they can accrue the cap space. They also already traded their 2025 first-round pick for David Jiricek, which means they’ll have to trade a future first-rounder or get creative with a top prospect and second-round pick. Nelson, whose game Wild (and Team USA) general manager Bill Guerin respects so much that he put him on the U.S. 4 Nations Face-Off roster, is somebody who can play up and down the lineup, at wing or center, kill penalties, win draws and play on the power play. — Russo

Target: David Spacek, RHD (MIN/AHL) — Arpon Basu

Cost: Joel Armia, RW (MTL) — Mirtle

Reality: This is less so about Spacek specifically than what he represents: a young, right-shot defenseman belonging to a contending team who is not necessarily a blue-chip prospect but is close to being NHL-ready. There are several around the league. And if the cost for landing one of them is Armia, the Canadiens would surely do it, and they would be far more willing to do something like this than trading Armia for a draft pick or two. — Basu

Target: Trevor Zegras, C (ANA) — Joe Rexrode

Cost: Joakim Kemell, RW (NSH) and a second-round pick — Mirtle

Reality: The Preds shouldn’t do this, in part because this season is rapidly turning to toast anyway, and because Kemell is a big part of this franchise’s future — which at this point looks like a lot of pain in the near term with aging, fading stars collecting large checks. The Zegras idea is rooted in the Preds’ never-ending search for more oomph down the middle. Though Zegras has played on the wing a lot this season, he has the tools. But this team looks unsaveable. — Rexrode

Target: Nick Bjugstad, C (UTA) — Peter Baugh

Cost: Two picks (second- and fifth-rounders) — Mirtle

Reality: General manager Tom Fitzgerald told The Athletic’s Pierre LeBrun he’s looking to add forward depth, and Bjugstad could make sense. He can play center or wing and had 22 goals for Arizona in 2023-24. The Devils will likely have three 2025 second-round picks (they will lose one if Jake Allen plays more than 40 games and they make the playoffs), so Fitzgerald has some assets to play with when looking to add depth, be it for someone like Bjugstad, another bottom-six forward or someone in the top nine. — Baugh

Target: Shane Pinto, C (OTT) — Arthur Staple

Cost: Alexander Romanov, LHD (NYI) — Mirtle

Reality: The Islanders could certainly use some scoring up front and to get younger. Pinto, a Long Island native, would help on both fronts. There’s zero chance they’d trade Romanov, though. He’s been a top-pair defenseman for the Islanders for the last year-plus. — Staple

Marcus Pettersson would fill a top-four need for the Rangers. (Mike Mulholland / Getty Images)

Target: Marcus Pettersson, LHD (PIT)* — Peter Baugh
(*Eight-team no-trade list)

Cost: First-round pick — Mirtle

Reality: With Jacob Trouba gone, the Rangers will want to upgrade a defensive group that’s currently playing a rookie Victor Mancini, a struggling Ryan Lindgren and a player in Zac Jones who has zero games of playoff experience — and had to call up Connor Mackey on Friday to sub in for K’Andre Miller, though that appears to be a short-term situation. Pettersson would fill a top-four need, though general manager Chris Drury would have to decide if a first-round pick is too much to part with for a rental. — Baugh

Target: Rasmus Andersson, RHD (CGY)* — Julian McKenzie
(*Six-team no-trade list)

Cost: Shane Pinto, C (OTT) and a second-round pick — Mirtle

Reality: Pending his no-trade list, Andersson would be a fantastic fit in Ottawa. He’s a top-pairing defenseman who can munch minutes and play every situation you need while being effective at both ends of the ice. You could pair him with Jake Sanderson up top or play him alongside Thomas Chabot if need be. Yes, it would mean moving on from a key player to acquire him. Also, the Senators are already facing the loss of a first-round pick either in 2025 or 2026. So, the Senators are going to lose out on some draft capital at the top of their next two drafts if they do this. Moving on from Pinto affects the team’s center depth, but the blow could be stomached by acquiring an established defenseman entering his prime. For the Senators, who are trying to elevate themselves to contender status, Andersson’s acquisition would be a culture shock. Possibly for the better. — McKenzie

Target: Shane Pinto, C (OTT) — Kevin Kurz

Cost: Tyson Foerster, RW (PHI) — Mirtle

Reality: Although the Flyers are in need of a center, particularly someone who might work well with Matvei Michkov, giving up a promising young winger in Foerster is probably too much. Foerster is one of the few Flyers forwards with size, and his two-way play has made him a favorite of coach John Tortorella, even if Foerster got off to a slow start this season. A more palatable deal might look like Joel Farabee and a draft pick, as the Flyers have three first-round and three second-round picks going into the 2025 draft. — Kurz

Target: Marco Rossi, C (MIN) — Rob Rossi

Cost: Bryan Rust, RW (PIT)* — Mirtle
(*Full no-move clause)

Reality: Evgeni Malkin has only one season remaining on his contract. Even if he opts to play beyond it, he’d likely only go an additional season — allowing him and Sidney Crosby to potentially take a combined bow in 2027. But that’s a big if, and it’s not unreasonable to envision Malkin moving to wing on Crosby’s line in his final days with the Penguins, presuming they can find a young, skilled center to supplant him. Rossi is exactly the type of young center around whom Kyle Dubas’ (don’t call it a) rebuild could be fast-tracked. The Penguins embrace skill and scoring more than any franchise, and Rossi would bring both along with an infusion of youth. Bryan Rust has a full no-movement clause through this season and his wife is from the Pittsburgh area. He doesn’t want to leave, but he hates losing — and perhaps a reunion with Wild general manager Bill Guerin, who oversaw Rust’s development with the Penguins, would entice him. He would bring a Cup veteran’s presence and versatility to Minnesota, and the Penguins would get a prized building block at a pivotal point for the franchise. Seems like a win-win. — Rossi

Target: Nikolaj Ehlers, LW/RW (WPG)* — Eric Stephens
(*Ten-team no-trade list)

Cost: Patience to wait until July 1 and then sign him to a seven-year contract with $8 million AAV — Mirtle

Reality: Fast-tracking the rebuild isn’t the wisest move on the surface but landing Ehlers as a free agent — a situation in which no assets are lost — would show the team wants to win in the coming years. It’s a big financial commitment but they can comfortably put Macklin Celebrini atop their pay scale with the cap continuing to rise. Salaries such as Mikael Granlund, Cody Ceci, Luke Kunin, Nico Sturm and Jan Rutta could be off their books, and they’ll be finished with paying Marc-Edouard Vlasic after next season. Ehlers would give San Jose another proven top-six winger with speed and skill. The question is giving $8 million for that long to someone good for 25 to 29 goals and 60-plus points but who never seems to put up more despite his offensive talent. — Stephens

Target: Hunter Shepard, G (WSH) — Thomas Drance

Cost: Second-round pick — Mirtle

Reality: The Kraken need to stabilize their backup goaltending if they’re going to catch up in the Pacific Division playoff race. To this point, honestly, the Kraken are probably, talent-wise, a playoff-caliber team — with one glaring exception. In games that Philipp Grubauer has started, they’re 3-8-0 and he’s put up an .881 save percentage in those games. Seattle needs an affordable reinforcement in net, and its American League netminders lack the pedigree and track record to replace Grubauer. A player such as Shepard — an elite AHL netminder, with some NHL experience in need of a real shot — would seem to fit the bill. A second-round pick is too rich, especially given that Shepard’s contract is expiring and the Capitals have already extended his platoon mate in Hershey. He’s the sort of piece the Kraken need, but they can’t pay a second-rounder for a player who would project to appear in 15 to 20 games for them over the balance of the season. — Drance

Target: Trent Frederic, LW (BOS) — Jeremy Rutherford

Cost: First-round pick — Mirtle

Reality: Fans will wonder why I didn’t choose Toronto’s Mitch Marner or another goal-scorer. The Blues don’t have the salary-cap room, and I believe they should wait to add that player when they’re a contender. I chose Frederic not because he’s a St. Louis native, but because he could bring much-needed toughness and also because Jim Montgomery, his coach in Boston, might be able to help him rediscover his offense. I would not pay a first-round pick, though, because the Blues could simply try to sign the pending unrestricted free agent next summer. — Rutherford

Target: Yanni Gourde, C (SEA)* — Shayna Goldman
(*23-team trade list)

Cost: First-round pick or top prospect — Mirtle

Reality: The Lightning have a dangerous top-six but need more bottom-six support alongside Nick Paul and Conor Geekie. Teams with championship aspirations need four reliable lines — like Tampa Bay had in 2020 and 2021. A reunion with Gourde would help; he brings a disruptive style that thrives in the playoffs, secondary scoring and two-way play. Maybe the market will raise the price to a first-rounder, but the Lightning could try to push the price down to a second-rounder (even with salary retention). The Lightning don’t have many prospects, but have a 2026 first-rounder and two 2025 second-rounders at their disposal. — Goldman

Yanni Gourde is the type of player the Maple Leafs should be (and will be) prioritizing ahead of the deadline. (Bruce Bennett / Getty Images)

Target: Yanni Gourde, C (SEA)* — Jonas Siegel
(*23-team trade list)

Cost: First-round pick or Ben Danford, RHD (TOR/OHL) — Mirtle

Reality: Gourde looks like the third-line center the Leafs need right now. He’s highly competitive, he’s quick, he can take on difficult matchups, he can kill penalties and he can deliver some offense from lower in the lineup. He was an integral part of the Lightning during back-to-back Stanley Cup runs. Is he worth a first-round pick? I’m not so sure. But given the dearth of potentially available centers and the many teams that need one, maybe he will net one for Seattle (if the team decides to trade him at all). Should the Leafs be the team to do it? I’d be more inclined to deal Danford than the first-round pick, given that his ceiling might be that of a third-pairing defenseman in the NHL. The Leafs don’t own a first-rounder in 2025 either, so it would have to be a 2026 pick. Or maybe the Leafs can sell the Kraken on the package that New York paid for Alex Wennberg last spring, second- and fifth-round picks? Cost will obviously have to be a consideration, but Gourde is the type of player the Leafs should be (and will be) prioritizing ahead of the deadline. — Siegel

GO DEEPER

A different kind of training camp: Inside a first-rounder’s Leafs initiation

Target: A top prospect — Mirtle

Cost: Nick Bjugstad, C (UTA) or Karel Vejmelka, G (UTA) — Mirtle

Reality: Two years ago, when Utah HC were the Arizona Coyotes, they made a brilliant trade at the deadline: Bjugstad to the Oilers for a third-round pick and a then-relatively unknown prospect, Michael Kesselring. He has since blossomed into a big, mobile top-four defenseman for Utah, with 15 points in 29 games so far this season. General manager Bill Armstrong has a solid bounty to use to extract more picks and prospects from buying teams this year. In addition to Bjugstad and Vejmelka, who has been one of the best goalies of the league of late, the Hockey Clubbers also have Alex Kerfoot, Michael Carcone, Ian Cole, Olli Maatta and Robert Bortuzzo on expiring deals. — Mirtle

Target: Will Borgen, RHD (SEA) — Thomas Drance

Cost: Second-round pick — Mirtle

Reality: The Canucks need additional help on defense — that’s been apparent all season — but it’s a need that’s about to be magnified over the medium term by Filip Hronek’s eight-week absence. Vancouver was going to need to bolster the right side of its back end anyway, but the Hronek situation ups the stakes. This front office is exceptionally aggressive about making in-season trades historically and has specifically moved proactively to boost its blue line in times of need — the club dealt for Nikita Zadorov in late November of 2023, for example, after Carson Soucy was injured. Among the pending unrestricted free-agent defenders, Borgen stands out. He’s relatively affordable cap-wise, he’s still relatively young (and would represent a potential long-term fit from a Vancouver perspective) and he’s a credible top-four option with enough offensive juice to potentially work as a fill-in caddy for Quinn Hughes on Vancouver’s top pair. He checks all the boxes. The Canucks seem to be pretty reticent about dealing significant futures or good young players for rental-type defenders, but a second-round pick for a player such as Borgen, who is young enough that the club might be willing to outbid other suitors for his services, would be a no-brainer. If the Kraken, who organizationally still have designs on competing for a playoff spot, decide to sell between now and the deadline, this would be a perfect fit at a reasonable enough price for the Canucks. — Drance

Target: Gustav Nyquist, C (NSH) — Jesse Granger

Cost: Two picks (second- and third-rounders) — Mirtle

Reality: Without a first-round pick for the next two years, the Golden Knights won’t be making the same type of splashy additions they did before last year’s deadline. Nyquist feels like the type of mid-level player Vegas likes to add to its middle-six. He’s a crafty playmaker with the puck, and while he hasn’t been as productive this season, he’s coming off a 75-point season. The Golden Knights have their second-round pick and two extra third-rounders, so the price is right. — Granger

Target: Nils Höglander, LW (VAN) — Sean Gentille

Cost: Martin Fehervary, LHD (WSH) or Trevor van Riemsdyk, RHD (WSH) — Mirtle

Reality: As good as the Caps have been, they could use a bit more pop in their middle six. Höglander has some history as a play-driver, the ability to pop in 15 goals or so (last season’s hot streak aside), and at 23, could stick in the lineup for a few years. The question is whether it’d be worth sending back the defenseman that Vancouver requires; van Riemsdyk might make sense, as fellow right-shot Dylan McIlrath has given Washington some decent low-impact minutes. — Gentille

Target: MacKenzie Weegar, RHD (CGY)* — Murat Ates
(*Full no-trade clause)

Cost: Brad Lambert, C (WPG) (or equivalent) — Mirtle

Reality: I targeted Weegar because I see him as an ideal top-pairing complement for Josh Morrissey. Weegar is tough, he’s a strong penalty-killer, he wins battles in front of his net and he’s a right-handed defenseman who plays first-pairing competition and beats it. He’s not a rental, either. Weegar’s $6.25 million contract runs through the end of 2030-31, implying a top four of Morrissey, Weegar, Dylan Samberg and Elias Salomonsson. Brad Lambert is a reasonable ask from Mirtle, and I believe the Jets could afford it, even with the long-term aging risk, but I imagine Winnipeg would prefer to keep Lambert well into the future. — Ates

(Illustration: Meech Robinson / The Athletic. Photos: Mike Stobe / NHLI; Troy Parla, Steph Chambers / Getty Images)