2025 NHL Trade Deadline: It’s a Seller’s Market

The 2025 NHL trade deadline has proven one thing: it’s a seller’s market.

Let’s recap the moves so far:

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NHL Trade Tracker

It started with the Ryan Lindgren trade. In exchange for Lindgren, the New York Rangers received a 2025 second—and fourth-round pick. Other pieces were involved in the trade, but it was ultimately centered around Lindgren and the picks.

The Gustav Nyquist trade to Minnesota is yet another example of it being a seller’s market. Nashville got a 2026 second-round pick in return for the 35-year-old center. Nyquist certainly is not having his best season, especially after his career year last season. Minnesota may have overpaid for familiarity.

The Seth Jones–Spencer Knight blockbuster is a bit of an outlier, along with Florida’s one-for-one swap of Pat Giles and Vitek Vanacek with San Jose.

Boston received a 2025 second-round pick and a 2026 fourth-round pick for Trent Frederic. Edmonton sent over a package of picks and Max Wanner for Frederic at 75% retention. Boston retained 50%, and New Jersey retained the other 25%, getting prospect Shane LaChance in return.

Seattle sent Yanni Gourde, Oliver Bjorkstrand, Kyle Aucoin, and a 2026 5th-round pick to Tampa Bay for a 2025 second-round pick, a 2026 first, and a 2027 first and Michael Eyssiomont. Seattle retained 50% of Gourde’s contract. Detroit retained 25% of Gourde’s salary, earning a 2025 fourth.

Pittsburgh made a few moves Wednesday evening, receiving a 2028 fifth-rounder for defenseman Vincent Desharnais, who never tallied a point for the Penguins. The move: the Penguins traded forward Michael Bunting and a 2026 fourth to Nashville for defenseman Luke Schenn and forward Tommy Novak.

On Thursday, the Devils made a “splash” on defenseman Brian Dumoulin, sending a 2025 second-round pick and prospect Herman Traff. The Ducks may have got away with robbery on that one, taking advantage of the seller’s market.

Read More: NHL Trade Deadline Update: Two Laughton Competitors Off the Board

It’s a Sellers Market

All signs point towards it being a seller’s market at the 2025 NHL trade deadline.

Teams have already taken advantage of it; will the Flyers do the same?

Teams are getting big returns for players that typically would not gain as much interest. The need for scoring depth on contending teams has raised the price of middle-six/bottom-four players.

The Flyers have touted two trade chips, Scott Laughton and Rasmus Ristolainen, but don’t seem to be in a rush to move either. With the seller’s market at the trade deadline, that may not be such a bad thing. Obviously, waiting until the very last minute may not be ideal, as some offers could come off the table quickly with teams pivoting elsewhere.

However, Trent Frederic and Gustav Nyquist are getting second-round picks as a return for their former clubs. Not rushing to trade either Laughton or Ristolainen to this point has only helped their value.

For the Flyers, Seattle’s return for Gourde/Bjorkstrand is what I look at.

Obviously, the Flyers won’t get two firsts for Laughton or Ristolainen alone, and maybe not even together. Bjorkstrand is a great player who fills a big need for Tampa, but it was certainly an overpay. It only helps the Flyers. Getting Gourde off the market as quickly as he was on helped get another center off the board. The two firsts being moved in the deal likely confirm that the Flyers will at least get a first for Laughton if he gets moved.

The Dumoulin trade has to help the Ristolainen market. Both defenders are big defenders but not big offensive producers. The only real difference is that Dumoulin is a left-shot blueliner, and a rental with a lower cap hit. Regardless, if he was able to fetch a first and a prospect, the Flyers could get their steep ask for Ristolainen.

Will the Flyers make a move before Friday’s 3:00 p.m. trade deadline?

Read More: Trade Deadline Update: What Do Saturday’s Trades Mean for the Flyers?