Oilers-Leafs Trade Talks Heat Up: Is Oliver Ekman-Larsson Worth the Price for Edmonton?
When word broke that the Edmonton Oilers and Toronto Maple Leafs were deep in trade discussions ahead of the NHL roster freeze, it wasn’t Bobby McMann’s name making waves-it was Nicolas Roy and Oliver Ekman-Larsson. And that caught more than a few people off guard.
While McMann had been the focal point of earlier speculation, insider David Pagnotta revealed that the real conversations were centered around Roy and Ekman-Larsson. Since then, the buzz has only grown louder, especially around what it might take for Edmonton to land the veteran defenseman. Spoiler: it’s not going to be cheap.
According to Pagnotta, the Leafs aren't entertaining the idea of moving Ekman-Larsson just to shed salary. That means a simple swap involving Andrew Mangiapane and a couple of picks won’t cut it.
The reported ask? It starts with top Oilers prospect Isaac Howard.
Let’s break that down.
Ekman-Larsson, now 34, is in the second year of a four-year, $14 million deal he signed with Toronto as a free agent in 2024. And he’s been delivering.
Through 57 games this season, he’s put up 34 points (eight goals, 26 assists), on pace for what could be the second-best offensive year of his career. That kind of production from the blue line doesn’t go unnoticed, especially for a team like Edmonton that’s looking to solidify its back end for a playoff push.
But here’s the rub: acquiring Ekman-Larsson isn’t just about this season. It’s about the cost-both in terms of assets and cap space-and what he can still bring over the next two years of his deal.
Toronto’s stance is clear. As Pagnotta put it, “The Leafs aren’t trading him for Mangiapane and a pick.
So, sorry, that’s not going to happen.” The Leafs are valuing Ekman-Larsson not just for his current play, but also for the term left on his contract and the stability he brings to their blue line.
That’s why a name like Isaac Howard is being floated. He’s not just a throw-in; he’s a legitimate prospect with upside.
Giving him up would be a significant move for Edmonton-and one that signals a win-now mentality.
So, should the Oilers bite?
There’s no doubt Ekman-Larsson would help this season. He brings puck-moving ability, experience, and a calm presence under pressure-something that could be invaluable come playoff time.
But there’s also the reality that he’ll turn 35 in July, and the mileage on his body is very real. If Edmonton gives up a top prospect like Howard, they need to be confident they’re getting more than just a rental.
They need a player who can contribute beyond this spring.
That’s where things get tricky. The Oilers have to weigh the short-term gain against long-term development.
Howard may not be NHL-ready today, but he’s viewed as a key piece for the future. Moving him for a player with a ticking clock carries risk-especially if Ekman-Larsson’s play starts to decline before his contract ends.
Could the deal still happen? Sure.
But it likely depends on whether Leafs GM Brad Treliving is willing to adjust his asking price-or sweeten the pot with another piece, like McMann, to balance things out. If that happens, Oilers GM Stan Bowman might have more to think about.
For now, it’s a high-stakes game of poker between two teams with very different timelines. Toronto, sitting on a valuable veteran, is holding firm. Edmonton, eyeing a deep playoff run, has to decide how much future it’s willing to spend for the present.