Buyer Beware for 5 Trade Targets Ahead of the 2026 NHL Trade Deadline

The NHL's annual trade deadline is Friday, March 6, 2026, at 3 pm ET. However, the league's Olympic roster freeze begins on Wednesday, Feb. 4, at 3 pm ET until Thursday, Feb. 22, at 11:59 pm ET.

Some general managers could use the start of the Olympic freeze as a deadline to avoid what could be a hectic rush between Feb. 23 and March 6 to buy or sell the best talent in the trade market. Others could wait until the deadline to get a better gauge of the market.

Trade activity increased in December, including a blockbuster deal in which the Vancouver Canucks shipped superstar defenseman Quinn Hughes to the Minnesota Wild. There have been four minor moves already in January, but more significant deals could happen with the Olympic break less than a month away.

We recently noted 15 players who surfaced in the rumor mill in our January NHL Trade Block Big Board. Since then, Dougie Hamilton of the New Jersey Devils and Jesperi Kotkaniemi of the Carolina Hurricanes have also become trade candidates. More players could join their ranks as the trade deadline draws near.

Most of these players will be enticing trade targets, especially for contenders hoping to bolster their rosters for the postseason. However, some of them should come with "buyer beware" labels. Here's a look at five that could end up proving more costly than helpful.

Jordan Binnington, St. Louis Blues

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On Dec. 19, Jeremy Rutherford and Chris Johnston included Jordan Binnington among their list of big-name St. Louis Blues players who could be traded this season. Management is considering all its options, which could mean shopping their long-time starting goaltender before the trade deadline.

Binnington sat at No. 7 on our January NHL Trade Block Big Board. The 32-year-old netminder is in the fifth season of his six-year contract with an average annual value of $6 million, and carries a 14-team no-trade list.

Binnington has a solid resume, which includes backstopping the Blues to the 2019 Stanley Cup and Team Canada to gold in the 4 Nations Face-Off last February. He holds the Blues' goaltending records with 363 games played and 181 wins.

Given the lack of quality starting goalies in the trade market, Binnington should draw plenty of attention from contenders seeking help between the pipes.

However, Binnington's performance has been inconsistent. After posting a solid 2.69 goals-against average in 56 games last season, his 3.53 GAA this season is among the worst for goalies with 15-plus games played. He also has a history of volatile on-ice behavior, though he has toned that down in recent years.

Binnington's performance could improve if he moves to a club with a better roster in front of him. Nevertheless, his temperament and inconsistent play raise questions over whether he can carry a team on a deep playoff run as he did with the Blues during his rookie season.

Dougie Hamilton, New Jersey Devils

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The hockey world is still buzzing over recent reports indicating that Dougie Hamilton's tenure with the New Jersey Devils could soon come to an end. We've already listed seven potential landing spots for the 32-year-old defenseman.

Hamilton is a big, mobile right-shot blueliner with eight 40-plus point seasons on his resume, including a career-high 74 points in 2022-23. He carries a 10-team trade list, but his agent claims his client is willing to be flexible if it could facilitate a mutually beneficial deal.

The 6'6", 229-pound Hamilton appears to tick all the boxes for playoff contenders in the market for a defenseman of his abilities. However, there are some concerns that cannot be ignored.

His $9 million average annual value through 2027-28 takes a significant bite out of any team's annual salary cap payroll. Even with the salary cap rising to $104 million next season and $113.5 million in 2027-28, it's still a hefty contract to take on. The Devils could be reluctant to retain any portion of it.

The decline in Hamilton's performance since 2022-23 is another concern. Sportsnet's Adam Vingan noted that he still drives the play at five-on-five and could be effective in the right situation. However, he pointed out that he's no longer the offensive producer he once was.

Hamilton's age and injury history cannot be ignored. Since joining the Devils, he's only played more than 64 games in a season once, and that was during his career-best season. Those factors could continue taking a toll on his performance.

Jesperi Kotkaniemi, Carolina Hurricanes

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Since the imposition of the salary cap in 2005, only 12 NHL players have signed offer sheets. Of these, only four were successfully signed away. Jesperi Kotkaniemi is among those four, signing a one-year, $6.1 million offer sheet with the Carolina Hurricanes in 2021.

The Hurricanes envisioned Kotkaniemi, then 21, blossoming into a reliable second-line center. They followed up by signing him to an eight-year extension in March 2022 worth an average annual value of $4.82 million. It also comes with a 10-team no-trade list for the final four years of the deal.

Kotkaniemi appeared to be heading in the right direction in 2022-23, tallying 18 goals and 25 assists for 43 points. Since then, he has struggled to find consistency with his game, leading to a reduction in his role, playing time, and production.

Now 25, Kotkaniemi has only seven points in 28 games. Part of that time was spent dealing with an ankle injury, but he's also been a frequent healthy scratch.

On Jan. 9, Sportsnet's Elliotte Friedman reported the Hurricanes were considering trade offers for Kotkaniemi. He indicated that they brought up the Finnish center in trade discussions with the Los Angeles Kings for Phillip Danault and the Vancouver Canucks for Quinn Hughes before those players were traded elsewhere last month.

Kotkaniemi's youth, affordable cap hit, and potential for improvement could make him a tempting reclamation project. However, if he struggled to become a top-six forward on one of the NHL's top teams, he may have already reached the ceiling of his capabilities.

Andrew Mangiapane, Edmonton Oilers

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The Edmonton Oilers signed Andrew Mangiapane last July to a two-year contract with an average annual value of $3.6 million. By January 6, the 29-year-old winger was sitting at No. 3 on our latest NHL Trade Block Big Board.

A former 40-plus point producer with the Calgary Flames earlier in his career, Mangiapane struggled last season with the Washington Capitals, netting just 28 points in 81 games. The Oilers gambled that he could regain his scoring touch alongside Connor McDavid and Leon Draisaitl.

It didn't work out as planned. After putting up three points in his first three games, he has only 11 points in 42 games. His playing time has been gradually reduced, and he's been a frequent healthy scratch since late December.

On Jan. 3, Sportsnet's Elliotte Friedman reported the Anaheim Ducks were among several teams with an interest in Mangiapane. However, some were concerned about the second year of his contract. He also has a full no-trade clause for this season, but is willing to waive it to join a team where he'll get more playing time.

Mangiapane's production was declining during his final two seasons with the Flames, dropping from a career-best 55 points in 2021-22 to 40 points by 2023-24. He's now struggled to score with clubs carrying high-profile offensive stars, and is better suited as a checking-line forward than a top-six winger.

Kiefer Sherwood, Vancouver Canucks

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Most NHL fans probably never heard of Kiefer Sherwood before this season. The 30-year-old winger saw limited action in his first six NHL seasons with the Anaheim Ducks, Colorado Avalanche, and Nashville Predators.

Signed by the Vancouver Canucks in 2024 to a two-year contract, Sherwood garnered some attention last season with a career-best 19 goals and 21 assists for 40 points in 78 games. Nevertheless, he remained mostly unknown to most NHL followers outside of Vancouver.

This season, however, Sherwood is on pace to exceed last season's performance, netting 23 points in 44 games, including a team-leading 17 goals. A physical, hard-working winger with an affordable $1.5 million cap hit, his style of play is tailor-made for the grind of the Stanley Cup playoffs.

Sherwood's eligibility for unrestricted free agency in July, and the struggling Canucks now in sell mode, make him a prime candidate to be moved to a playoff contender by the March 6 trade deadline. He's become a frequent topic of trade rumors and sits at No. 2 on our January NHL Trade Block Big Board.

Nevertheless, teams interested in Sherwood should proceed with caution. On Jan. 12, Shayna Goldman of The Athletic observed his streakiness as a goal scorer and his inconsistent shooting percentage. His physical style also makes him susceptible to injury.

Teams must also be wary of overpaying for Sherwood. The Canucks could seek a first-round pick plus a top prospect or a young NHL player. If a team hopes to re-sign him, he could seek a deal worth over $5 million annually on a long-term contract.

Stats (as of Jan. 17, 2026) via NHL.com. Salary info via PuckPedia.