NHL Trade Chatter Heats Up: Oilers and Leafs in the Mix, Olympic Break Deals Brewing, and Binnington Emerging for Team Canada
With the NHL trade deadline inching closer and the Olympic break in full swing, the market is anything but quiet. Behind the scenes, teams are working the phones, and a few names continue to pop up in trade chatter-none more prominently than the Edmonton Oilers and Toronto Maple Leafs. Add in some Olympic intrigue and a goaltending decision looming for Team Canada, and there’s no shortage of storylines to keep an eye on.
Oilers and Maple Leafs: Trade Partners in the Making?
The Oilers and Maple Leafs have been circling each other in the rumor mill for weeks now. First, it was talk of Toronto’s Bobby McMann heading west. Now, the conversation has shifted to a pair of intriguing names: Nicolas Roy and Oliver Ekman-Larsson.
Roy, a versatile two-way center, has drawn interest from Edmonton, while Ekman-Larsson-who’s quietly putting together one of his best seasons in years-is the bigger swing. At 34, OEL has racked up 34 points through 57 games this season (eight goals, 26 assists), and he’s doing it in the second year of a four-year, $14 million deal signed back in 2024. That kind of production from the blue line doesn’t come cheap, and neither will the asking price.
Reports suggest any move involving Ekman-Larsson would start with a top prospect-specifically, Isaac Howard. That’s a steep ask, but it reflects the reality of his current value.
He's not just a cap dump; he's playing like a legitimate top-four defenseman. Toronto’s not giving him away, and if Edmonton wants to get serious, it’s going to take more than just a mid-tier asset or a hometown connection.
There’s also been chatter about a potential swap involving Andrew Mangiapane and Roy. With both players carrying similar cap hits-Mangiapane at $3.6 million AAV and Roy at $3 million-it’s a deal that could work financially, but it would still require some finesse. Both teams are tight against the cap, and any transaction here would need to be as much about fit as it is about dollars.
Bottom line: Edmonton and Toronto are talking, but nothing is imminent. Still, the framework is there for something significant if the right pieces fall into place.
Olympic Break Doesn’t Mean Business Stops
While Olympic hockey takes center stage, NHL front offices are staying active. According to insider Elliotte Friedman, teams are quietly working on extensions and potential deals during the break-even with the roster freeze in place.
One general manager reportedly warned Friedman not to “take his eye off the ball,” hinting that some moves could be teed up now and executed the moment the freeze lifts. While no specific names were confirmed, players like Alex Tuch (Buffalo), Bobby McMann (Toronto), and Boone Jenner (Columbus) are believed to be on the radar for possible extensions or trade scenarios.
This is classic deadline prep-teams trying to lock in key pieces or explore value deals while the rest of the league is distracted. And with the cap situation as tight as it is around the league, any edge matters.
Expect Changes in Edmonton
Back in Edmonton, don’t expect the Oilers to stand pat. Friedman noted that the team will “look different” post-Olympic break, though that doesn’t necessarily mean a flurry of immediate moves. The Oilers are clearly positioning themselves for a run, and they’re not afraid to shake things up to get there.
There’s also been buzz about Paul Coffey potentially rejoining the coaching staff. Nothing’s been confirmed, but the rumor has been circulating.
If it does happen, it could signal something bigger brewing within the organization. As Jason Gregor put it on Sports 1440, if Coffey comes in, “you probably have to change the head coach.”
That’s a bold move mid-season, but it speaks to the urgency in Edmonton right now. They know the window is open, and they’re not wasting time.
Binnington in the Spotlight for Team Canada
Over on the international stage, one of the biggest questions for Team Canada is who gets the nod in net. All signs point to Jordan Binnington emerging as the likely starter, but head coach Jon Cooper hasn’t made anything official yet.
Binnington’s NHL numbers this season have been a bit of a rollercoaster, but his experience in high-pressure situations is hard to ignore. He impressed at the 4 Nations Face-Off and has a track record of elevating his game when it matters most. That kind of pedigree matters in a short tournament.
Cooper has confirmed that two different goalies will start the first two games, so we’ll likely see a bit of a rotation early on. But if Binnington performs the way he’s capable of, don’t be surprised if he grabs the crease and doesn’t let go.
What’s Next?
With the trade deadline looming and the Olympic break offering a rare midseason reset, the NHL is entering a fascinating stretch. The Oilers and Leafs are dancing around a potential deal that could shake up the playoff picture.
Teams are quietly laying the groundwork for moves that could drop the moment the freeze lifts. And Team Canada’s goaltending decision could have ripple effects throughout the tournament.
Stay tuned-this is the calm before the storm. And when it breaks, it could get loud.