B/R NHL Trade Block Big Board: May 2025
The opening round of the 2025 Stanley Cup playoffs is still ongoing entering May. Nevertheless, the rumor mill is churning regarding the 16 teams that failed to qualify for the postseason.
The general managers of those 16 clubs can make trades among themselves during the playoffs. They'll likely wait until the postseason is over, when there will be more potential trade partners to deal with.
Some of the speculation involves Pittsburgh Penguins defenseman Erik Karlsson, New York Rangers winger Chris Kreider and New York Islanders center Jean-Gabriel Pageau. They were among the eight players who appeared on our Trade Targets Big Board for April.
The others (Anaheim Ducks goaltender John Gibson, New Jersey Devils defenseman Simon Nemec, Philadelphia Flyers defenseman Rasmus Ristolainen, Minnesota Wild center Marco Rossi, and St. Louis Blues center Brayden Schenn) come off our list as they scarcely appeared in trade rumors throughout April.
However, several other notable players take their place on our Trade Block Big Board for May. Read on to find out who they are and to get the latest on Karlsson, Kreider and Pageau.
10. Elias Pettersson, Vancouver Canucks
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A rift between Elias Pettersson and J.T. Miller led to the latter being traded to the New York Rangers on Jan. 31. However, it did little to improve the former's performance, finishing with a career-low 45 points in a full non-COVID season as the Canucks missed the playoffs for the fourth time since 2020-21.
Management expressed confidence in Pettersson regaining his form during their end-of-season press conference on April 21. Nevertheless, there was speculation over the center's future in Vancouver earlier in the month that could persist despite the club's public support.
On April 17, Patrick Johnston of The Vancouver Province wondered if management had second thoughts about signing the 26-year-old to an expensive long-term contract last year. If they decide to move him, they must find a trade partner and a suitable replacement for him on their top line.
Earlier in the month, Johnston noted the difficulty of moving Pettersson's $11.6 million cap hit and finding a suitable replacement to center their first line. Nevertheless, his trade status could be worth monitoring in the offseason as management considers its options.
9. Mika Zibanejad, New York Rangers
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The New York Rangers missed the playoffs this season partly because several core players underachieved. One of them was Mika Zibanejad, who finished with 58 points in 80 games, well below last season's 72 points and his career-best 91 points in 2022-23.
With $9.7 million in projected cap space for next season, the Rangers could make a cost-cutting trade or two to make room to address other roster needs.
On April 11, Mollie Walker of The New York Post suggested Zibanejad or Chris Kreider as trade candidates.
Zibanejad has five years left on his contract with an average annual value of $8.5 million. He also has a full no-movement clause.
Before the Rangers' final game of the season, the 32-year-old told Walker that he knows what his contract says. "Until it's time to adjust it, I have no plans of going anywhere," he said.
Nevertheless, Walker wondered if Rangers general manager Chris Drury might meet with Zibanejad to discuss waiving his no-movement clause.
His age, annual cap hit and declining production would still make him a tough sell in the trade market unless Drury agrees to retain some of his salary.
8. Thatcher Demko, Vancouver Canucks
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A year after the Vancouver Canucks achieved the third-best record in franchise history, they missed the playoffs for the fourth time in five years.
Several factors went into their decline, including goaltender Thatcher Demko's recovery from a nagging knee injury earlier in the season.
The 29-year-old missed the first 24 games of the regular season with that injury. He later missed 15 games with a lower-body issue unrelated to his knee problem. When healthy, he's among the league's top goaltenders, but his ongoing injury history is cause for concern.
The Canucks signed Kevin Lankinen last September as a short-term replacement for the sidelined Demko, who has a year remaining on his contract. He played so well that they inked him to a five-year extension, which raised questions about the two-time All-Star's long-term future in Vancouver.
On April 8, TSN's Darren Dreger reported Demko and Canucks management have contract extension discussions, but Dreger claimed some observers believe a trade could also be an option.
Despite Demko's injury history, the dearth of available quality goalies could draw interest from other teams.
7. Rasmus Andersson, Calgary Flames
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Having narrowly missed the playoffs, the Calgary Flames could be buyers in this summer's trade and free-agent markets to boost their chances for next season. However, there is some uncertainty over Rasmus Andersson's future in the Stampede City.
The 28-year-old is a year away from unrestricted free-agent eligibility. He carries a salary-cap hit of $4.55 million for 2025-26. Given his role as a top-two defenseman and alternate captain, he'll seek a substantial raise on a long-term contract.
On April 19, Daniel Austin of the Calgary Sun considered re-signing Andersson to an extension after July 1 to be the Flames' top offseason priority. He indicated there has been little contract discussion between the two sides, but they hope to meet later this summer.
Austin's colleague, Wes Gilbertson, pointed out that the Flames were in this position before with Elias Lindholm and Noah Hanifin, and both players were traded eventually. Andersson could suffer the same fate if an extension isn't reached this summer.
6. Joonas Korpisalo, Boston Bruins
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After eight seasons among the NHL's best teams, the Boston Bruins failed to qualify for the 2025 playoffs. That's prompted speculation over what moves management has in store to shake up the roster to bounce back next season.
Elliotte Friedman used his 32 Thoughts podcast to wonder whether goaltender Jeremy Swayman might become a trade candidate. However, the Bruins' chances of rebounding next season are better with him between the pipes.
Joonas Korpisalo seems a more likely trade possibility. On April 25, RG.Org's James Murphy cited sources claiming Korpisalo's agent, Markus Lehto, told management his client would welcome a summer trade if they couldn't guarantee him more playing time next season.
The 31-year-old has four seasons remaining on his contract. Murphy indicated Lehto wasn't available for comment and no formal trade request was made.
Nevertheless, his situation could be worth following this summer, especially if the Bruins intend to shed some salary to free up room to address other roster needs.
5. Matias Maccelli, Utah Hockey Club
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After 29 seasons in Arizona, the Coyotes moved to Salt Lake City last April and were temporarily named the Utah Hockey Club until a better team moniker was found.
Utah missed the playoffs this season but showed promising improvement with 38 wins and 89 points.
Matias Maccelli was among its promising core of young talent, reaching a career-high 57 points in 2023-24. However, the left winger struggled this season. He finished with 18 points in 55 games and was a frequent healthy scratch during the final weeks of the schedule.
The 24-year-old has a year remaining on his contract with a cap hit of $3.43 million. On April 20, Belle Fraser of The Salt Lake Tribune reported his future with Utah was unclear.
Fraser stated that management had faith Maccelli could rebound next season, but she also indicated an offseason trade wasn't off the table. He could draw interest from clubs seeking an affordable, young top-six winger.
4. Jean-Gabriel Pageau, New York Islanders
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The New York Islanders wasted little time getting started with their offseason changes. On April 22, they announced they would not renew the contract of team president and general manager Lou Lamoriello. The club is currently searching for his replacement.
Whoever becomes the new GM must decide what to do with Jean-Gabriel Pageau. The versatile two-way forward earned a spot on our NHL Offseason Trade Targets for April 2025.
The 32-year-old has a year remaining on his contract with a salary-cap hit of $5 million and a 16-team no-trade list. On April 24, Ethan Sears of The New York Post wondered if the new Isles GM would entertain trade offers for Pageau and team captain Anders Lee, who also has a year left on his contract.
Roster changes are likely coming this summer for the Islanders as they transition out older players to make room for younger talent. Pageau could be among their trade candidates during the offseason.
3. Erik Karlsson, Pittsburgh Penguins
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Trade rumors dogged Erik Karlsson leading up to the March 7 trade deadline and during the remainder of that month, earning the Pittsburgh Penguins defenseman a spot on our NHL Offseason Trade Targets for April 2025.
The media trade talk regarding the 34-year-old continued after the Penguins' season ended. On April 20, The Athletic's Josh Yohe made the case for trading the blueliner, citing his expensive contract, shaky defensive game and ineffectiveness on the power play.
Despite those issues, Yohe cited league sources claiming some teams could be interested in the Swede if the Penguins retained part of their share of his $11.5 million cap hit. Mark Madden of the Pittsburgh Tribune-Review predicted he would be traded this summer with the Penguins retaining salary.
Pittsburgh Hockey Now's Dan Kingerski is skeptical, noting GM Kyle Dubas calling on Karlsson to be better prepared to help the Penguins reach the playoffs next season. He thinks trade possibilities for the veteran rearguard have diminished, but we can't rule it out given Dubas' reputation for bold moves.
2. Anders Lee, New York Islanders
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The New York Islanders' recent firing of general manager Lou Lamoriello signals significant offseason changes are coming. Once his replacement is found, there could be movement this summer involving some of their longtime roster veterans.
Team captain Anders Lee is the most notable of that group. The 34-year-old left winger has spent his entire 13-season NHL career with the Isles, reaching or exceeding 20 goals nine times. He has a year left on his contract with a cap hit of $7 million and a 15-team no-trade list.
On April 24, Ethan Sears of The New York Post questioned whether the new Isles GM would entertain trade offers for Lee and two-way forward Jean-Gabriel Pageau. Despite Lee's age, he led the club with 29 goals and finished second with 54 points.
Lee's experience, leadership and goal-scoring ability could make him an attractive trade target for playoff contenders seeking scoring punch. However, the Islanders might have to retain part of his cap hit to get a decent return.
1. Chris Kreider, New York Rangers
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A difficult, injury-hampered performance and the New York Rangers' struggles resulted in Chris Kreider becoming a fixture in the rumor mill over the second half of the regular season.
The ongoing speculation over his future earned the 34-year-old winger a spot on our April NHL Offseason Trade Targets.
On April 7, Larry Brooks of The New York Post suggested Kreider was playing his final games with the Rangers. A week later, The Athletic's Peter Baugh reported the veteran winger was the most likely Ranger to be moved to free up salary-cap space for next season.
The Rangers have a projected $9.7 million of salary-cap space with 18 active roster players under contract for 2025-26. Kreider has two years left on his deal with an average annual value of $6.5 million and a 15-team no-trade list.
On Apr. 21, Brooks' colleague, Mollie Walker, noted Kreider hoped he wouldn't be traded during the offseason. However, general manager Chris Drury was active in this season's trade market as he tries to retool his roster. Kreider could be the Ranger most likely to be moved this summer.
Regular-season stats via NHL.com. Salary info via PuckPedia.
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