Just like that, the 2026 NHL Trade Deadline is in the rearview mirror. Let's take a different approach to the deadline's winners and losers with sober second thoughts on a Monday:
Winner: Montréal Canadiens
How did a team that didn't execute a single trade emerge as a winner? Listen to GM Kent Hughes: "I expect we're in this kind of a race next year, and the year after, and the year after as well, so I certainly wouldn't go into this [trade deadline] thinking this year represents an opportunity that isn't going to exist in the future." Because the Canadiens are firmly in a playoff spot, the expectation for any playoff team is to do something. I'm not sure why that is the case. Go big or do nothing, let's not trade draft picks for bottom of the lineup players. Clearly, the Canadiens attempted to take a big swing that was apparently thwarted by time in the final minutes of the deadline. As Hughes said, the groundwork has been laid for later. The Canadiens' window to win is just opening, no need to prematurely limit how long it remains open for instant gratification now.
Loser: Doug Armstrong
Yes, it is Doug Armstrong who infamously says to colleagues and agents: "If you want loyalty, get a dog." That mantra was on full display at the deadline. Armstrong's legacy in St. Louis took a sizable hit after a leak publicly pressured Colton Parayko to waive his 'no-trade' clause to Buffalo. After that blew up, Armstrong then asked captain Brayden Schenn to waive his 'no-trade' for the second trade deadline in a row, making sure that he too got the message his services were no longer needed after winning a Stanley Cup together in 2019. Armstrong seemed perpetually perturbed at his roster this season - the one that he himself built - and has long been frustrated with the 'no-trade' clauses on his blueline, the same contract terms that he gave out. As Armstrong prepares to transition to team president and hand off the day-to-day operations to Alex Steen this summer, Armstrong may have also cost himself the opportunity to move to another organization - which many are whispering is his motivation behind the move.
Winner: Philadelphia Flyers
Way too much energy was spent on the Flyers not moving Rasmus Ristolainen on Friday, so much so that their win got lost in the shuffle. It was a one-for-one swap that didn't garner much attention - but the Flyers took the bat off their shoulder by trading Bobby Brink to his home state of Minnesota in exchange for defenseman David Jiricek. They traded from a glut of wingers, where they'd have to eventually free up space to make room for Porter Martone and others, and got their hands on a pedigreed blueliner who still has the potential to be a No. 1 defenseman. Yes, you read that correctly: a No. 1 defenseman - so few have even the potential to do it. The Flyers' build has been limited by their need to check positional boxes at center and defense. Jiricek, 22, was never going to be that for the Wild with Quinn Hughes and Brock Faber ahead of him. He may not be that for the Flyers, he has a lot of work to do. But the cost is appropriate to find out if the No. 6 overall pick from 2022 can fill a void for the organization in a big way.
Loser: Evander Kane
It's interesting how teams aren't willing to look the other way on all of Kane's past transgressions when he is no longer able to perform at a consistently high level. Kane, now 34, has saved his career multiple times while dangling from the ropes - but his best trick yet might be turning a tryout into a contract in the fall.
Winner: Kyle Davidson
If there was a deadline opposite of Armstrong, that's what Davidson experienced running the Chicago Blackhawks. Davidson scored major points with players and agents on how to treat people, landing all of his trade deadline chips on playoff teams with legitimate chances to win the Stanley Cup - most notably taking nothing in return to get captain Nick Foligno to Minnesota to unite with his younger brother Marcus. That was the feel-good story of the deadline. He'd already done his heavy lifting, getting back a 1st, 2nd and 3rd for Jason Dickinson, Connor Murphy and Colton Dach. Pretty damn good considering Davidson was already paid a 2nd to take on Dickinson's contract from Vancouver back in 2022. Along the way, Davidson has earned a reputation as a dealmaker, someone who doesn't feel a need to 'win' the trade or 'win' the headline but wants to get a trade executed that helps both teams.
Loser: Washington Capitals
Father time remains undefeated, and yes, all good things come to an end. Pick whichever cliché applies. A changing of the guard was definitely in order with Alex Ovechkin and John Carlson reaching into the twilight of their careers. But it sure felt like the Caps ripped out the heart of their franchise in the middle of the night on Thursday. No matter what, even if it could be executed freely without a no-trade clause since Anaheim wasn't on his 'no' list, it feels like poor form to move a franchise icon while he's sleeping - and certainly without his blessing. After 17 seasons and holding every franchise record on defense (games, goals, assists, points), Carlson earned the same treatment that Ryan O'Reilly got in Nashville - a gentleman's verbal 'no-trade' clause - and O'Reilly hasn't even done anything for the Predators. We get it, room must be made for Cole Hutson, but the reaction from Ovechkin and Tom Wilson on Friday said a lot.
Winner: Winnipeg Jets
In what has been a disastrous season for last year's Presidents' Trophy winner, GM Kevin Cheveldayoff showed why restraint and patience matter in the NHL. One trade could pay serious dividends down the road: moving pending UFAs Logan Stanley and Luke Schenn in exchange for Jacob Bryson, Isak Rosén and a 2027 2nd Round Pick. Bryson is an immediate replacement for Stanley on the left side, although a different type of defenseman. Rosén, 22, didn't work out in Buffalo but is exactly the type of high pedigree player to take a shot on to add scoring punch on Winnipeg's wing. The Jets believe they are better than their showing this year. They stay the course when others panic. And the payoff might be that they sneak into the playoffs this season, because they're squarely in the Western Conference wild card pillow fight now.