Pencils down.

The 2024 NHL trade deadline is now behind us, so it's time to decide who won and who lost. We're factoring in moves made in the weeks leading up to Friday's 3 p.m. deadline.

Winners

Vegas Golden Knights

The Golden Knights don't appear at all satisfied with one Stanley Cup. Vegas went all-in once again this deadline season, hauling in Anthony Mantha, Noah Hanifin, and Tomas Hertl over the past three days. General manager Kelly McCrimmon pulled off his coup without surrendering this year's first-round pick and remained comfortably cap compliant. Although many fans are sour about another year of LTIR gymnastics from the defending champions, they're not breaking any rules. And the buzz Vegas generated from its three blockbusters should be celebrated, not criticized.

Mantha fits the Golden Knights' mantra of two-way responsibility from their forwards, and he can provide some scoring pop for a middle-of-the-pack offensive team. Getting him for two picks and having 50% of his salary retained would have been enough on its own to classify Vegas as winners. But of course, the team located in the entertainment capital of the world proceeded to go above and beyond. The Golden Knights, sorely lacking center depth, landed a star pivot from a division rival. Hertl has posted impressive metrics and traditional stats for a truly awful team in San Jose and should have no problem fitting in once he's healthy. McCrimmon also swindled two third-round picks from the Sharks in the biggest move of deadline day.

Lastly, Hanifin gives Vegas a third star defenseman mixed in with Alex Pietrangelo and Shea Theodore. Vegas' blue line is its biggest strength, and it added another responsible, mobile, puck-mover in his prime. The new-look Golden Knights may be in a wild-card spot for now, but you can bet no one wants to pull them in the playoffs after their latest reinforcements.

Colorado Avalanche and Buffalo Sabres

The Avalanche and Sabres pulled off by far the funnest deal of the deadline by swapping defenseman Bowen Byram for center Casey Mittelstadt. Pure hockey trades like this are a lost art in today's NHL, so executives Chris MacFarland and Kevyn Adams both deserve a stick tap for pulling it off. We love the trade for both sides, too: Colorado had a surplus of defensemen and needed a center, while Buffalo had a surplus of centers and needed to shake up its core. Mittelstadt might be the safer addition, but Byram, the 2019 No. 4 pick, comes with more upside.

The Avalanche did more to further cement themselves as winners, though. They sent a first-round pick and Ryan Johansen (more on him later) to the Philadelphia Flyers for defenseman Sean Walker. Getting Johansen's contract off the books was key, but Walker - an exceptionally smooth skater playing the best hockey of his career - should fit like a glove in Colorado's up-tempo system.

The Avalanche also added depth up front with Brandon Duhaime and Yakov Trenin, a pair of north-south wingers for the bottom six who will wreak havoc on the forecheck come playoff time.

Winnipeg Jets

The Jets didn't spend lavishly this year but made some sensible acquisitions Friday in Tyler Toffoli and Colin Miller to supplement February's addition of Sean Monahan, who's managed eight goals in 13 games with Winnipeg so far. His production has made surrendering a first-round pick much more palatable, and the fact Kevin Cheveldayoff kept shopping despite already hitting a home run cemented the Jets' status as winners.

Toffoli, who cost Winnipeg a third-round pick in 2024 and a second-rounder in 2025, is a shot-first winger that deepens the Jets' top six and should complement either Monahan or Mark Scheifele nicely on the right side. The arrival of the eight-time 20-goal-scorer pushes some less productive names down the lineup and gives Winnipeg another legitimate scoring option on the power play.

Miller has posted sneakily effective underlying metrics this season in sheltered minutes and would be a strong depth option for a lot of teams. Cheveldayoff did a great job identifying Miller's availability, and paying a fourth-rounder for a puck-moving right-handed shot is virtually unheard of this time of year.

Carolina Hurricanes

Carolina landed arguably the best player available in Jake Guentzel from the Pittsburgh Penguins. The Hurricanes only surrendered a trio of B-level prospects from their deep farm system, a second-round pick that becomes a first-rounder if the Canes make the Cup Final, and a fifth-round selection that Pittsburgh receives if Carolina wins the Cup. That's some tidy business by GM Don Waddell.

Going after high-profile rentals isn't typically Carolina's M.O., but Waddell knew this was the time to strike. A lack of scoring punch has led to the Hurricanes' demise in each of their last few playoff exits, but Guentzel should help big time. He's a two-time 40-goal-scorer with 34 tallies in 58 career playoff games. His 22 goals in 50 contests this season are nothing to scoff at, either.

The Hurricanes also made the bold move of bringing in Evgeny Kuznetsov from the Washington Capitals. We're much less optimistic about this deal considering Kuznetsov's steep decline and abysmal on-ice results in the last couple of years. It's also a questionable fit with head coach Rod Brind'Amour. But if there's a way to insulate Kuznetsov in a depth, offensive role, perhaps it could work.

Florida Panthers and Kyle Okposo

The Panthers didn't have much to spend this deadline, but they made the most of it. They reeled in Vladimir Tarasenko from the Ottawa Senators for a pair of mid-round picks and Kyle Okposo from the Sabres for a conditional seventh-rounder and minor-leaguer. But their best - and most important - move wasn't a trade, but an eight-year, $46-million extension for core defenseman Gustav Forsling.

Forsling, one of the league's most underrated players, is a stud on the back end. This deal is more than fair and should age quite nicely. Extending him was pivotal for Florida's long-term outlook.

Tarasenko may be a liability defensively, but he still has some juice offensively with 17 goals on the season. He should be able to help the Cats in a depth role.

While Okposo is a respected leader who should be able to chip in on the fourth line (he's reliable defensively and can still get in on the forecheck), this deal was a bigger win for the player himself. Even without factoring in hockey, going from Buffalo to Sunrise is a major lifestyle victory.

But more importantly, the 17-year NHL veteran gets a chance to chase his first Stanley Cup ring with the league-leading Panthers after failing to qualify for the postseason during his entire eight-year tenure with the Sabres. His last playoff game was in 2016 with the New York Islanders.

Losers

Boston Bruins

The Bruins not adding a center was a curious decision. It's been Boston's most glaring need since Patrice Bergeron retired, but the club didn't pull the trigger on acquiring a pivot and instead brought in winger Patrick Maroon and defenseman Andrew Peeke to round out an underwhelming deadline.

It's difficult to be too harsh on the Bruins considering last year's spending spree paid little dividends, and this season's group is currently second in the league standings. Still, why not at least try to add to a roster in a campaign that's exceeded expectations? Boston, like most teams, is up against the cap, but a handful of quality centers were available this winter. Monahan, Elias Lindholm, or Adam Henrique would've been nice fits in the middle six, but Don Sweeney missed out and failed to secure any backup plans. The Bruins' defense and star goaltending tandem could be strong enough to carry them deep into the playoffs, but Boston's center core is weak relative to its toughest Eastern Conference competition, even with Pavel Zacha and Charlie Coyle having productive years.

Los Angeles Kings

The Western Conference playoffs are set to be an absolute gauntlet. All of the other contenders (Avalanche, Canucks, Golden Knights, Oilers, Jets, Stars) made notable acquisitions, but the Kings didn't make a single trade.

Los Angeles' biggest need was in goal. GM Rob Blake reportedly almost landed reigning Vezina Trophy winner Linus Ullmark from the Boston Bruins but couldn't get the deal over the finish line. Ullmark's contract includes a 16-team no-trade list, so it's possible he nixed the deal.

The Kings have one of the deepest groups of skaters in the NHL with four solid forward lines and three stellar defense pairs. But while Cam Talbot and David Rittich have played well enough between the pipes this season, it's a stretch to think that tandem can take the Kings to a Stanley Cup. With Anze Kopitar and Drew Doughty still effective in their twilight years, Blake should've been more aggressive in addressing his goaltending.

Toronto Maple Leafs

If you're a fan of giant, tough defensemen, this section isn't for you. The Maple Leafs have been chasing a right-handed blue-liner all season and wound up with Ilya Lyubushkin and Joel Edmundson (who shoots left). Toronto gave up two third-rounders, a fifth, and a sixth to bring in a pair of hard-nosed rentals who the club hopes can provide some toughness in a daunting playoff bracket that's likely to include Boston and/or Florida. Adding experience and some level of reliability was necessary for Toronto amid an injury crisis on the back end, but the Leafs have been done in by a failure to move the puck against aggressive forechecks in past playoffs, and neither Edmundson nor Lyubushkin excels in this regard.

The low acquisition prices of Hanifin, Miller, and Chris Tanev make the Leafs’ additions extra baffling. Toronto, while low in draft capital, had the assets to land more effective defensemen based on the market. If physicality has been the missing ingredient for Toronto's playoff success all along, we'll take the heat for our take on the Leafs' deadline. But until proven otherwise, the club failed to adequately address its biggest need after months of waiting.

Ryan Johansen

To be clear, we're not calling Johansen himself a "loser." A 13-year NHL veteran with an estimated $62 million in career earnings has clearly accomplished more than most people ever will. But his current situation in pro hockey, relatively speaking, can be classified as a loss.

Johansen went from serving as a middle-six center on a Stanley Cup-contending Colorado Avalanche team to being traded as a cap dump to a Philadelphia Flyers club that, frankly, doesn't even want him. Philadelphia GM Daniel Briere said Johansen - who has a turbulent history with Flyers coach John Tortorella - isn't part of the team's plans. Johansen was placed on waivers and will be assigned to the AHL after Philly failed to flip him prior to the deadline.

It's been a rapid fall from grace for the 31-year-old Johansen, who put up 63 points as recently as 2021-22.

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The opening day of free agency is in the books, and while a tight salary cap limited many teams from spending lavishly, there's still plenty to chew on from Saturday's signings.

Below, we identify early winners and losers of this year's frenzy.

Winner: Hurricanes

The Carolina Hurricanes have been a model franchise since Don Waddell took over as general manager and Rod Brind'Amour was hired as head coach for the 2018-19 campaign. The club has made the playoffs in each season, earning two Eastern Conference Final appearances.

But while postseason results can sometimes come down to good or bad fortune, the logic behind Carolina's personnel decisions is always sound. Its savvy cap management puts the club in positions to be aggressive in the right moments. Saturday was no different.

The team landed arguably the best free agent available in Dmitry Orlov - a two-way, top-pairing-caliber defenseman. His $7.75-million cap hit was the highest handed out on the day, but he's worth it. And while he'll turn 32 later in July, the two-year deal carries very little risk for Carolina. The Canes could now move one of Brady Skjei or Brett Pesce - both are in the last year of their deals - or keep them and have arguably the NHL's best blue line.

Carolina also filled a need to round out its top-six forward group by signing Michael Bunting from the Toronto Maple Leafs on a three-year deal at a fair $4.5-million cap hit.

The club then brought back its stellar goalie tandem of Frederik Andersen and Antti Raanta for a combined $4.9 million. Pyotr Kochetkov, who'll likely start the year in the AHL, is now arguably the best third goalie in the league.

With Jordan Staal and Jesper Fast also retained prior to the start of free agency, the Hurricanes have virtually no holes and still a bit of cap space to play with.

Loser: Maple Leafs

It’s difficult to discern Brad Treliving's intended vision for the 2023-24 Maple Leafs after Saturday's festivities. Toronto added size and toughness in Ryan Reaves, but having the enforcer under contract until he's nearly 40 is an unnecessary gamble. Reaves is highly respected by teammates and equally feared by opponents, but after losing Bunting, Ryan O'Reilly, Noel Acciari, and Alexander Kerfoot, Toronto needed to spend on forwards who could fill the gaping holes. Reaves isn't that guy and is a defensive liability to boot.

Speaking of defensive liabilities, Treliving inked one of the league's biggest by luring John Klingberg on a one-year, $4.15-million contract. Klingberg's offensive chops might give Toronto's power play a boost, and the Leafs did need a player other than Morgan Rielly to transport the puck from the back end. However, they let a much cheaper version of Klingberg bolt in Erik Gustafsson, who possesses a very similar tool kit but signed with the New York Rangers for only $825,000.

The Leafs added $5.5 million to next season's books and still need to find help up front and re-sign RFA netminder Ilya Samsonov with only $6 million to work with. Treliving could've silenced many critics with an extension for Auston Matthews or William Nylander on the first day of eligibility, but he didn't make that happen, either.

Winner: Stars

Jim Nill is off to a great start in his bid to repeat as general manager of the year. The savvy executive took advantage of Nashville buying out Matt Duchene and inked the nine-time 20-goal scorer to a one-year agreement at an extremely palatable $3 million. Duchene took a step back from his 86-point breakout in 2021-22 but still managed a respectable 56 in 71 contests for an ineffective Predators attack.

Duchene doesn't need to carry the offensive load in Dallas, but his arrival makes an already dangerous group that much deeper. The Stars are in win-now mode and got significantly better Saturday without breaking the bank.

Loser: Islanders

Lou Lamoriello is officially off his rocker.

The New York Islanders' 80-year-old general manager made a bevy questionable long-term commitments Saturday to keep his team together.

• Ilya Sorokin: eight years, $66 million (extension)
• Scott Mayfield: seven years, $24.5 million
• Pierre Engvall: seven years, $21 million
• Semyon Varlamov: four years, $11 million

None of the cap hits are egregious; it's the length that should have Isles fans worried - even in a rising-cap environment. Sorokin is one of the game's best netminders, but having a goalie locked up for top dollar through his age-36 season could backfire. Mayfield, who's already slow, is signed through his age-37 campaign; Engvall, whose game lacks intensity, is inked through his age-33 season; Varlamov is locked up through his age-38 campaign.

It'd be one thing to keep all these players together in the middle of a dynasty, but the Islanders were already one of the oldest teams in the league and barely squeaked into the playoffs last season. It's hard to imagine them escaping mediocrity anytime soon.

Winner: Rugged defensemen

It pays to be big.

As the NHL continues to open up, speed and skill is on display more than ever. However, Saturday provided evidence that big, physical defensemen will always be valued.

Though a stagnant cap has limited spending league-wide, several rugged blue-liners still managed to cash in. Among them are the aforementioned Mayfield, Ryan Graves (six years, $27 million), Radko Gudas (three years, $12 million), Justin Holl (three years, $10.2 million), Connor Clifton (three years, $10 million), Carson Soucy (three years, $9.75 million), Luke Schenn (three years, $8.25 million), and Niko Mikkola (three years, $7.5 million).

All of these players are either giants - like the 6-foot-5 Graves and Soucy - or play much bigger than their size with extreme aggressiveness - like Gudas and Clifton.

Loser: NHL players and fans

This year's free-agent class was labeled a dud off the bat, and nothing transpired Saturday to make the 2023 frenzy memorable beyond some brief buzz on social media. Financial restrictions across the league heavily limited player movement and prevented any big-ticket deals, and there were no contracts to generate excitement for the average fan. Only six deals featured cap hits north of $5 million. No players signed for a new team at the maximum term of seven years. The ramifications of a flat salary cap are well known by now, but its strain on the NHL's economy has taken away most of the luster from what's supposed to be one of the most thrilling days on the league's calendar.

It's foolish to compare NHL money to NBA money, but it's difficult to ignore the chasm between the two leagues when it comes to free-agency excitement. The NHL gave out more than $640 million across 160-plus signings, which is nothing to scoff at, but the NBA has surpassed $1.8 billion since opening its market Friday. The NHL is a long way from reaching those kinds of figures, but much-needed increases to the cap next year should at least make for a more exciting product.

Winner: Junior hockey reunions

Fans could see two of junior hockey's most dynamic duos reunited in the NHL in 2023-24.

The Edmonton Oilers signed Connor Brown to a very team-friendly one-year, $775,000 deal (with $3.225 million in performance bonuses). Brown and Connor McDavid dominated the OHL together with the Erie Otters from 2012-14. Brown actually led the league with 128 points in 2013-14.

Brown will surely get a chance to play on McDavid's line in Edmonton. He's coming off a lost season due to a torn ACL, but as a hard-working, two-way winger, he could be a great fit at a bargain price.

The Colorado Avalanche brought in Jonathan Drouin on a one-year, $825,000 deal. Drouin, of course, starred for the QMJHL's Halifax Mooseheads alongside Nathan MacKinnon from 2011-13. Drouin, in fact, led the team with 105 points - 30 more than MacKinnon - the last year they played together.

Drouin was in dire need of a change of scenery after a turbulent ending to his tenure with the Montreal Canadiens. But he should be highly motivated to produce if given the chance to play with MacKinnon, making it a low-risk, high-upside signing for the Avs.

Loser: Kings

Days after taking a significant step toward Cup contention by landing Pierre-Luc Dubois, the wind was taken out of the club's sails by its failure to sign a goalie of significance. The Kings inked veterans Cam Talbot and David Rittich to one-year deals, and they'll join Pheonix Copley to create an underwhelming triumvirate between the pipes for a team with impressive depth at every other position.

Los Angeles lost Joonas Korpisalo to the Ottawa Senators on a pricey five-year, $20-million contract and whiffed on the other available options, including Andersen, Raanta, and Tristan Jarry. Those goalies wouldn't have guaranteed the Kings a Cup but are all better than what Los Angeles brought in. Rob Blake was working with limited cap space, but considering his club ranked 27th in all-situations save percentage last season, stronger reinforcements in the crease should have been a higher priority.

Winner: Alex Killorn

Killorn's 11-year tenure with the Tampa Bay Lightning came to an end Saturday after playing more than 800 games, winning two Stanley Cups, and ranking top 10 in franchise history across all notable offensive categories. It was a solid run, but the Anaheim Ducks did their best to get Tampa off Killorn's mind, signing him to a shiny four-year, $25-million contract that represents the second-highest cap hit ($6.25 million) doled out on opening day.

Killorn is coming off a career year with 64 points but was universally flagged as a risky signing leading up to July 1 because of his age and inflated stats. Killorn might be in for a bit of a shock come October when he suits up for one of the league's worst teams instead of a perennial powerhouse, but earning a near $2-million raise to live in Orange County for likely the rest of his career is a pretty sweet deal.

To be determined: Penguins

Kyle Dubas certainly made his presence felt in his first free-agent frenzy as Pittsburgh Penguins president of hockey operations. The Pens were the busiest team of the day, re-signing goalie Jarry (five years, $26.875 million), bolstering the blue line with Graves (six years, $27 million), and adding depth up front with Lars Eller (two years, $4.9 million), and Noel Acciari (three years, $6 million).

Eller and Acciari are both good role players who give the team's bottom-six forward group some much needed purpose. Graves' contract should age well as the cap rises, too.

It's Jarry's contract that's most concerning. He's never posted a save percentage below .909 over his last four seasons since becoming a starter but has only saved 0.43 goals above expected over that time, per Evolving-Hockey, signalling he's basically a league average goalie. Yet, his cap hit is now the 12th-highest among goalies.

If Jarry can be better than league average over the next few years, the Penguins could have one more shot at a run with Sidney Crosby, Evgeni Malkin, and Kris Letang. If not, the window is probably firmly shut.

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Several restricted free agents were not issued qualifying offers by Friday's 5 p.m. ET deadline, making them eligible to sign anywhere when the market opens Saturday at noon.

Here's a group of notable players whose sudden availability has added a new layer of intrigue to this weekend's free-agent frenzy. The entire list can be accessed here.

Puljujarvi, the Edmonton Oilers' No. 4 pick in 2016, was unable to get his career on track after being traded to the Carolina Hurricanes. He failed to score in 24 games (regular season and playoffs) with the Canes and was even a healthy scratch at times in the postseason despite the team's injuries.

Gurianov, the 12th pick in the 2015 draft, has mostly been a bust to this point. He enjoyed one 20-goal season in 2019-20 but managed just 17 points in 66 games this season between the Dallas Stars and Montreal Canadiens.

Hajek was a key part of the return in the trade that sent Ryan McDonagh to the Tampa Bay Lightning in 2018. He never reached his potential in New York, though, appearing in just 33 games over the last two campaigns for the Rangers.

The Canucks passed on retaining Bear and Dermott, who are both just 26. Bear played a top-four role this season but suffered a shoulder injury while playing for Canada at the World Championship and is out six months as of mid-June. Injuries limited Dermott to just 28 games across parts of two seasons in Vancouver after the club surrendered a third-round pick for him in March 2022.

The Coyotes are working to sign Fischer, according to Sportsnet's Elliotte Friedman, while the Devils announced they will try to sign their trio at a lower cost.

(Cap source: CapFriendly)

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Halloween arriving in the middle of the NHL's offseason may be a once-in-a-lifetime opportunity. Let's look at how a handful of teams have fared so far this fall, evaluating each squad's moves using a theme connected to Saturday's holiday.

Trick = A team that's either further removed from contender status than before this offseason, or isn't as close to contending as the club's splashy moves seem to indicate.

Treat = A team that's vaulted closer to contention thanks to its offseason moves.

Bruins: Trick 👻

Key arrivals: Craig Smith
Key departures: Torey Krug, Zdeno Chara (unsigned), Joakim Nordstrom

Boston entered the offseason fresh off an underwhelming showing in the playoffs, and with ample cap space to make an impact in free agency. But surprisingly, the Bruins were just passengers throughout the frenzy.

Smith is a nice addition, especially at $3.1 million per season. But only making one signing after another campaign in which an aging core didn't yield a championship is curious, to say the least.

The Bruins also let Krug walk, and they didn't bring anyone in to replace him. There are still strong pieces on Boston's blue line, but without Krug - and Chara still unsigned - the unit is looking thinner than ever before. Tie all that in with long-term surgery recoveries for superstars David Pastrnak and Brad Marchand, and Boston's immediate future after a bland offseason seems precarious.

Canadiens: Treat 🍬

Key arrivals: Josh Anderson, Tyler Toffoli, Joel Edmundson, Jake Allen, Alexander Romanov
Key departures: Max Domi

Montreal's biggest issue last season was scoring, as the Habs were possession darlings, but they often struggled to finish. Adding Toffoli and Anderson should help in a big way.

The Canadiens can now roll out three potent lines next year, and young centers Nick Suzuki and Jesperi Kotkaniemi will also provide a boost after making strides during the team's impressive playoff showing. Montreal lacks star power up front, but the club boasts quality depth.

Edmundson's contract (four years, $3.5M AAV) could come back to haunt general manager Marc Bergevin. But the squad's blue line should improve overall, especially if the 20-year-old Romanov can make the leap from the KHL to the NHL with ease.

Allen, meanwhile, is one of the NHL's best backups, and he'll help to keep Carey Price fresh - which will be crucial during a potentially condensed schedule.

Sabres: Trick 👻

Key arrivals: Taylor Hall, Eric Staal, Cody Eakin, Tobias Rieder
Key departures: Marcus Johansson, Jimmy Vesey, Johan Larsson, Dominik Kahun (unsigned)

The Sabres have enjoyed a great offseason - we're not arguing that. Hall and Jack Eichel will be one of the league's scariest offensive duos, and Staal fills a massive hole as a second-line center.

However, there are still far too many question marks for this team to contend. The bottom-six forward group is a mess. There are some nice blue-line pieces in Buffalo, but the group is unbalanced and lacks a reliable shutdown pair. And the team's goaltending is suspect, despite some encouraging signs from Linus Ullmark a year ago.

Maple Leafs: Treat 🍬

Key arrivals: TJ Brodie, Zach Bogosian, Mikko Lehtonen, Joe Thornton, Wayne Simmonds, Jimmy Vesey, Joey Anderson
Key departures: Andreas Johnsson, Kasperi Kapanen, Tyson Barrie, Cody Ceci

After a disappointing defeat to the Columbus Blue Jackets in this summer's qualifying round, Kyle Dubas got busy addressing some of the Maple Leafs' clear needs. Toronto became tougher and more experienced throughout its lineup, and adding Brodie gives the Leafs their strongest group of blue-liners in recent memory.

While the Maple Leafs appear deeper after their bevy of additions, the most impressive aspect of Toronto's offseason could be its salary-cap navigation. Dubas not only bolstered each position, but he also retained restricted free agents Ilya Mikheyev and Travis Dermott at discounted rates, and without going over the stagnant cap.

Islanders: Trick 👻

Key arrivals: Ilya Sorokin
Key departures: Devon Toews, Derick Brassard (unsigned), Thomas Greiss

New York has been silent so far this offseason and unable to build on the momentum from a surprising run to the Eastern Conference Final. Recouping two second-round picks in the Toews deal is a decent haul, but it's hard to understand why the young, dynamic blue-liner needed to be the Islanders' cap casualty. The club also hasn't signed a single free agent yet.

Lou Lamoriello has always been one to wait, and he's sure showcasing his patience when it comes to locking down two key RFAs. Foundational pieces Mathew Barzal and Ryan Pulock need new deals, and the Islanders only hold $8.9 million in available cap space. The final prices of those two contracts will define New York's offseason, either bailing out Lamoriello after his inactivity, or further crippling the club's financial future.

Avalanche: Treat 🍬

Key arrivals: Brandon Saad, Devon Toews
Key departures: Nikita Zadorov

The Avalanche are enjoying yet another solid offseason. GM Joe Sakic didn't go big-game hunting with his cap space, but he continued his trend of acquiring strong two-way players cheaply. Adding Saad to one of the NHL's deepest forward groups is scary for Colorado's Western Conference opponents, and Sakic even managed to convince Chicago to retain some of the veteran winger's salary.

Toews essentially replaces Zadorov on the blue line after the latter went to the Blackhawks in the deal, which is a major upgrade. The 26-year-old is one of the NHL's best puck-moving defensemen, and the four-year, $16.4 million contract he signed after the trade could become a highly team-friendly deal.

He joins a promising defensive corps that already features Cale Makar and Samuel Girard, along with prospects Bowen Byram and Conor Timmins waiting in the weeds. The rich get richer.

Canucks: Trick 👻

Key arrivals: Nate Schmidt, Braden Holtby
Key departures: Jacob Markstrom, Chris Tanev, Tyler Toffoli, Josh Leivo, Troy Stecher, Oscar Fantenberg

We love adding Schmidt, especially at the cost (third-round pick). But there's no denying the Canucks became worse.

Schmidt replaces Tanev, which is an upgrade, but GM Jim Benning hasn't added anyone to fill Stecher's spot, and he doesn't hold the cap space to make that move. Is Olli Juolevi ready? Tyler Myers playing heavier minutes could be a spooky reality.

Losing Toffoli hurts, too, especially after how well he meshed with Vancouver's top-six forwards. Benning may have been able to keep Toffoli around if he didn't allocate so much money to uninspiring veterans like Brandon Sutter ($4.38 million), Micheal Ferland ($3.5 million), Antoine Roussel ($3 million), and Jay Beagle ($3 million). Not bringing back Leivo, who only received $875K from the Calgary Flames, is questionable too.

Holtby, who's posted three straight poor seasons, is a definite downgrade from Markstrom. Thatcher Demko had better be ready to play at least half of the Canucks' games. He certainly looked like a No. 1 netminder in the postseason.

Golden Knights: Treat 🍬

Key arrivals: Alex Pietrangelo, Carl Dahlstrom
Key departures: Nate Schmidt, Paul Stastny

Is upgrading from Schmidt to Pietrangelo worth the cost of trading away Stastny? We think so. That's Vegas' offseason in a nutshell. The Golden Knights have now assembled one of the league's best blue lines, and they were able to re-sign goalie Robin Lehner.

Center depth beyond William Karlsson is the club's biggest weakness, but 2016 No. 6 pick Cody Glass provides plenty of upside, and veteran Chandler Stephenson fit in with Vegas extremely well after being acquired in a midseason trade last year from the Washington Capitals.

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The NHL draft lottery was flipped upside down when a placeholder team won the right to the first overall pick. Every team that's eliminated from the upcoming play-in round will now own an equal 12.5% chance at drafting QMJHL phenom Alexis Lafreniere.

Let's take a look at what each Western Conference team stands to gain should it win the unprecedented draft lottery.

Eastern Conference l Western Conference

(No. 5) Edmonton Oilers

2019-20 record: 37-25-9 (.585)
Last No. 1 pick: Connor McDavid (2015)

Imagine the frenzy the hockey world would go into if the Oilers won yet another draft lottery? The organization has already selected first overall four times this decade. A fifth would be downright absurd, and frankly, completely unfair.

Even though fans would be accusing the league of rigging the lottery, the on-ice product would be highly entertaining with Lafreniere on a line with McDavid. Or how about Leon Draisaitl?

Edmonton’s power play was already historically good this season. How much better could it be with Lafreniere in the mix? If the Oilers weren’t already producing must-watch TV, they would be after adding yet another highly touted prospect.

(No. 6) Nashville Predators

2019-20 record: 35-26-8 (.565)
Last No. 1 pick: N/A

If the Predators enter the lottery for Lafreniere, Nashville could venture into uncharted territory.

Over the club's 21 seasons, the Preds have never truly drafted and developed a superstar forward. They've been the standard-bearers of finding defensive gems, but have never produced a home-grown offensive superstar. Filip Forsberg's rise is the closest they've come, but the Predators acquired him through a trade, and he's still never topped 70 single-season points.

Drafting Lafreniere would also make the Preds' offense younger, as the majority of Nashville's current forwards are close to 30 years old.

(No. 7) Vancouver Canucks

2019-20 record: 36-27-6 (.565)
Last No. 1 pick: N/A

Elias Pettersson is the reigning Calder Trophy winner, and Quinn Hughes is arguably the favorite for this year's rookie of the year honors. Adding Lafreniere would give the Canucks a legitimate chance at a Calder Trophy three-peat - a feat that hasn't been accomplished since the Original Six era when the Toronto Maple Leafs did it from 1942-43 to 1944-45. Calling the trio "The Calder Core" or "The Calder Club" would have a pretty good ring to it.

Note: The Canucks traded their 2020 first-round pick to the Tampa Bay Lightning, who then flipped it to the New Jersey Devils. Vancouver will keep the pick and surrender a 2021 first-rounder instead if they miss the playoffs.

(No. 8) Calgary Flames

2019-20 record: 36-27-7
Last No. 1 pick: N/A

The Flames have been in the market for additional scorers for a while, and adding Lafreneire would be a dream scenario after the club took a major step backward offensively this past season.

As enticing as it would be to slot Lafreniere into a forward corps alongside Johnny Gaudreau, Matthew Tkachuk, Elias Lindholm, and Sean Monahan, the arrival of the QMJHL stud would create lineup headaches. Gaudreau, Tkachuk, and Lafreniere all play the left side, but rearranging some wingers is a small price to pay while adding the world's top prospect.

(No. 9) Winnipeg Jets

2019-20 record: 37-28-6 (.563)
Last No. 1 pick: N/A

The Jets have technically picked first overall before. Before moving to Winnipeg in 2011, the Atlanta Thrashers picked first overall twice, nabbing Ilya Kovalchuk in 2001, and Patrik Stefan in 1999. The original Jets also picked first overall once, drafting Dale Hawerchuk in 1981 before eventually relocating to Phoenix. The Jets 2.0 haven't been given the honor yet.

Lafreniere joining the Jets would create a bit of a logjam on the wings, with Blake Wheeler, Kyle Connor, Patrik Laine, and Nikolaj Ehlers already taking up top-six spots. There are a few ways Winnipeg getting the No. 1 pick could unfold:

1. The Jets draft for positional need and take center Quinton Byfield first overall to round out their top six.
2. Wheeler moves to center on a full-time basis, as he did for parts of the 2019-20 season.
3. The Jets draft Lafreniere, then trade Connor, Laine, or Ehlers for a defenseman or a center (Wheeler's contract features a no-movement clause).

The first scenario seems highly unlikely since Lafreniere is the consensus best player in the draft, and the second is less than ideal, leaving No. 3 as the most logical option. The Jets could fetch a great return for any of the three players, and there's still a gaping hole on their blue line after losing Jacob Trouba, Dustin Byfuglien, Tyler Myers, and Ben Chiarot over the past year.

(No. 10) Minnesota Wild

2019-20 record: 35-27-7 (.558)
Last No. 1 pick: N/A

Drafting Lafreniere would finally give the Wild something to build around. Minnesota is in the early stages of the Bill Guerin regime, and the team has been stuck between a full-scale rebuild or retooling on the fly for years.

After a spell of mediocrity, the Wild can't look back on playoff success, and they also still didn't get lottery picks to help build toward a better future. Lafreniere would instantly bring youthful energy to a veteran roster and be the centerpiece of whatever path Guerin has laid out for the franchise, which is in dire need of something to get excited about.

(No. 11) Arizona Coyotes

2019-20 record: 33-29-8 (.529)
Last No. 1 pick: N/A

Taylor Hall has played just five career playoff games. As a pending UFA, he probably wants to sign with a winning team. Would adding Lafreniere help convince Hall to stay in the desert? Maybe not, but Lafreniere being in the fold would give a team that defends exceptionally well but struggles to score a much-needed offensive dynamo.

Note: The Coyotes traded their 2020 first-round pick to the Devils, but it's top-three protected.

(No. 12) Chicago Blackhawks

2019-20 record: 32-30-8
Last No. 1 pick: Patrick Kane (2007)

The online outrage if the Blackhawks win the Lafreniere lottery following their 2010s dynasty would be intense. It's hard to imagine a better run of good fortune for a franchise than three Stanley Cups in six seasons, with a No. 1 pick coming just five years later. But there's a distinct possibility that happens for Chicago, a team heavily overmatched in its play-in series versus the Oilers.

Many fans would prefer to see Lafreniere land anywhere but the Windy City. But objectively, the youngster suiting up in an Original Six market and forming the next version of the Jonathan Toews-Patrick Kane duo with fellow lottery choice Kirby Dach is something we can get behind.

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With the 2020 NHL trade deadline in the rearview mirror, it's time to award winner and loser titles around the league. Deals made in the weeks leading up to the deadline were also considered for this exercise.

Winners

Edmonton Oilers

The Oilers filled a huge need on deadline day, adding some much-needed speed and skill to the wings in the form of Andreas Athanasiou and Tyler Ennis.

Athanasiou can absolutely fly - he has speed similar to McDavid's. He's having a rough season, but who on the Detroit Red Wings isn't? He's just a year removed from a 30-goal campaign and will undoubtedly benefit from playing alongside either McDavid, Leon Draisaitl, or Ryan Nugent-Hopkins. He's also just 25 years old and a pending RFA. Acquiring him for only two second-rounders and Sam Gagner is a huge win.

Ennis is such a good fit for the Oilers. Not only is he an Edmonton native, but he thinks the game at an elite level and has enough skill to hang with the Oilers' top centers. He can also be effective playing down in the lineup. He had 14 goals and 33 points in a middle-six role with the Ottawa Senators this season. Giving up just a fifth-round pick seems like a steal.

General manager Ken Holland also landed another familiar face from his old team in defenseman Mike Green. The 34-year-old isn't the difference-maker he used to be, but he should be rejuvenated by the move to a playoff-contending team. The cost of Kyle Brodziak and a conditional fourth-rounder seems more than fair. - Wegman

Vegas Golden Knights

You can always count on the Golden Knights to make a splash. One year after landing Mark Stone, Vegas went big again, grabbing goaltender Robin Lehner to resolve a major issue.

Entering the deadline, the Golden Knights' all-situations save percentage this season was .898 - the ninth-worst mark in the league. By adding Lehner - the owner of a .918 clip in 33 appearances with Chicago - into the mix with Marc-Andre Fleury, Vegas now owns arguably the best goaltending tandem in the NHL to complement an incredibly deep roster.

Vegas upgraded its bottom-six on Monday by adding Nick Cousins. The team also acquired Chandler Stephenson earlier in the year, while also nabbing Alec Martinez from the Los Angeles Kings in a recent deal to add experience to its blue line.

There's now no glaring holes in the Golden Knights' roster, and they're well-positioned to do some significant damage in a wide-open Pacific Division heading into the playoffs. - O'Leary

San Jose Sharks

Doug Wilson's Sharks are having a disastrous year, but the savvy GM made the most out of a bad situation leading up to the deadline.

In three separate deals, Wilson managed a first-round pick, a second-round pick, and a third-round pick while only giving up Barclay Goodrow, Brenden Dillon, and Patrick Marleau. Netting a first-round pick from the Tampa Bay Lightning for Goodrow, even though it'll be toward the end of the first round, is quite impressive.

Wilson can either use these picks to help rebuild San Jose's depleted farm system, or use them as trade bait to take another swing at things in 2020-21. Either way, it's masterful work. - Wegman

Jean-Gabriel Pageau

The Islanders made one of the biggest moves of the day in landing Pageau from the Ottawa Senators, and let's be crystal clear right off the bat: the player is the winner here, not necessarily his new team.

Having a chance to compete for a Stanley Cup after a tumultuous few seasons with the Senators is a major upgrade, but a five-year, $30-million contract to help him ease into his new surroundings on Long Island is a clear-cut win for the 27-year-old pivot.

Pageau is having a career year with 24 goals and 16 assists, but the price New York paid for him was steep. A first-, second-, and third-round pick was one of the biggest packages given up all day, and a $5-million AAV is quite pricey for a veteran player who projects to slot into the third line. - O'Leary

Somewhere in between

Carolina Hurricanes

The Hurricanes' moves on deadline day have us feeling like this gif of Larry David. There's a lot to like, but there are also some questionable decisions made by GM Don Waddell.

The Vincent Trocheck trade is a steal. Trocheck is far better than Erik Haula and Lucas Wallmark; the two prospects heading to Florida aren't considered to be of the blue-chip variety. Trocheck gives Carolina an impressive trio of centers - joining Sebastian Aho and Jordan Staal - and is under contract through 2021-22 at a reasonable $4.75 million.

The Sami Vatanen deal is fine, considering it only cost Waddell a conditional fourth-rounder, a prospect, and a depth defenseman. However, Vatanen has missed the last 10 games with a lower-body injury and it's unclear when he'll be ready to contribute to Carolina's banged-up blue line. Even when he is healthy, he doesn't move the needle all that much. Here's a look at his isolated impact at five-on-five over the past four seasons:

Waddell further bolstered the back end after landing Brady Skjei from the New York Rangers for a first-round pick. Skjei is just 25 years old and signed through 2023-24 at a $5.25-million cap hit. He hasn't improved since his 39-point rookie season in 2016-17, and by all accounts, isn't worth his contract:

The most puzzling part of Carolina's deadline day is that Waddell failed to address the club's biggest need between the pipes. Both James Reimer and Petr Mrazek are out with injuries, so the club will rely on the inexperienced tandem of Anton Forsberg and Alex Nedeljkovic in the meantime. Considering an elite goaltender such as Lehner was there for the taking, it seems as though Waddell missed the boat on this one. - Wegman

Losers

Chicago Blackhawks

Chicago had a pair of attractive assets to sell in Lehner and defenseman Erik Gustafsson, and the returns for both players were underwhelming to say the least.

Lehner, a Vezina Trophy finalist last season, only fetched a second-round pick, Malcolm Subban, and prospect Slava Demin. Could GM Stan Bowman not have received a bigger package from teams like Colorado or Carolina, who are desperate to reinforce their crease heading into the playoffs? Making matters worse regarding the Lehner situation, he reportedly offered to take a three-year contract from the Blackhawks at a "minimal price" as he approaches unrestricted free agency. Now it appears Chicago will go back to Corey Crawford, who is significantly older than Lehner and has posted worse numbers. This is a head-scratcher.

As for Gustafsson, it's bizarre he only fetched a third-rounder based on the blue-liner market this winter. Martinez cost Vegas two second-rounders, while Brenden Dillon and Marco Scandella went for a second in their respective trades as well. Gustafsson is having a down year but has shown more offensive upside in his career and is younger than all the aforementioned rearguards.

All things considered, it feels like a massive swing and miss from Bowman and Co. in the Blackhawks' front office. - O'Leary

Toronto Maple Leafs

If the Maple Leafs end up making the playoffs, it'll be a miracle if they get out of the first round, considering they'll likely face the Boston Bruins or Tampa Bay Lightning. This makes the decision to keep Tyson Barrie all the more confusing.

Barrie has not been a fit with the Leafs whatsoever. While moving him would've created another hole on Toronto's weak blue line and signaled a waving of the white flag on the 2019-20 campaign, it would've been far more acceptable than losing him for nothing in the offseason.

Barrie, a pending UFA, was a part of the Nazem Kadri trade in the summer, but it seems highly unlikely he re-signs in Toronto, especially after Jake Muzzin's extension Monday. GM Kyle Dubas likely could've landed a second-round pick for Barrie at the very least. - Wegman

Joe Thornton

First things first, we feel terrible for insinuating Thornton himself could ever be considered a loser. If you're reading this Jumbo Joe, it's not personal, your current situation is just less than ideal.

Thornton admitted prior to the deadline that it is tempting to join a contender and chase the Stanley Cup that's eluded him his entire career. Then, after watching his longtime buddy and teammate Patrick Marleau get traded to Pittsburgh, Thornton was reportedly disappointed he didn't get the same treatment.

We just want what's best for you, Joe, and 20 more meaningless games with the Sharks this season certainly isn't it. - O'Leary

Colorado Avalanche

The Avs had the opportunity to be big players on deadline day but ended up being awfully quiet. Colorado has boatloads of cap space and a deep prospect pool but failed to make an impact move. They landed a decent middle-six forward in Vladislav Namestnikov from the Ottawa Senators, but that was it.

Maybe they were in the hunt for Chris Kreider before the power forward re-signed with the New York Rangers for seven years at $6.5 million. However, this seems like a missed opportunity for GM Joe Sakic. At the very least, he could've acquired more depth across the lineup with the anticipation of a deep playoff run. - Wegman

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