With the NHL’s Olympic roster freeze right around the corner on Feb. 4, teams with playoff aspirations are beginning to make additions, while sellers are starting to strip down their clubs and focus on the future.
Over the past 10 days, the Calgary Flames have shipped Rasmus Andersson to Vegas, Kiefer Sherwood was traded from Vancouver to San Jose, and the New York Rangers made the first of what’s expected to be multiple moves in their retool by sending Carson Soucy to the division-rival New York Islanders.
Trade activity is expected to continue with only one week remaining before the NHL rosters are locked for 18 days during the Milano Cortina Winter Olympics. On Wednesday morning, Chris Johnston of The Athletic dropped his trade board 5.0, breaking down which players could get moved before the league goes on pause.
Three members of the Chicago Blackhawks were among the 40 players listed by Johnston. Even though they’ve earned a point in nine of 14 games this month and sit just six points back of the final wildcard playoff spot in the Western Conference, the Blackhawks know their likelihood of qualifying for the Stanley Cup Playoffs is a long shot.
According to NHL insider Frank Seravalli, who joined CHSN’s pregame show ahead of Sunday’s matchup with the Florida Panthers, the Blackhawks don’t have any “disillusion” about where their place is in the standings right now. The plan is still to move some of their pending unrestricted free agents to keep stockpiling and building up the asset pool. They also want to open up roster spots for potential newcomers late in the season, such as Anton Frondell and Sacha Boisvert.
Two of the three players mentioned by Seravalli in particular were also listed by Johnston in his latest trade board. Jason Dickinson and Connor Murphy, both in the final year of their current deals, are fully expected to be dealt before the trade deadline.
Connor Murphy
Murphy, 32, was the first Blackhawks player to pop up in Johnston’s list, coming in at No. 14. The veteran right-handed defenseman has played in all 53 games this season and is the longest-tenured member of the Hawks, getting acquired from the then-Arizona Coyotes before the 2017-18 season.
Murphy has provided steady defensive play down on the third pairing in 2025-26 and has been a key part of Chicago’s top-ranked penalty kill. He’s an excellent leader in the locker room and plays a selfless role as a shot-blocker. Right-handed defensemen are always attractive at the deadline, and Murphy should garner plenty of interest from teams looking to bolster their blue line with veteran depth.
Ten days ago, the Vegas Golden Knights acquired Andersson, another right-handed defenseman, from Calgary in exchange for Zach Whitecloud, a 2027 conditional first-round pick, and a 2028 conditional second-round pick. While Murphy certainly isn’t held in the same regard as Andersson, that type of return should benefit Chicago whenever Murphy eventually gets moved. A first-round pick may not be part of the equation for Murphy, but a second-round selection should be in play, especially if the Blackhawks retain part of his $4.4 million cap hit that runs through the end of this year.
Here’s what Johnston wrote about Murphy in trade board 5.0:
“Big, strong, and experienced, Murphy has posted strong defensive results under less-than-favorable conditions with the Blackhawks in recent years. The right shot comes with an expiring contract that should be fairly easy to move, particularly in light of how few options are likely to be available in free agency next summer. This is a time of transition in Chicago, so roster flexibility is paramount.”
Jason Dickinson
Dickinson, 30, is in his fourth season with the Blackhawks, and it will very likely be his last. Given that he’s set to become a UFA this summer, plus all the centers in Chicago’s prospect pool, it’s best for the team to move in a different direction right now.
After scoring a career-high 22 goals and posting 35 points in 2023-24, Dickinson’s offensive production has fallen back down to earth over the last two years. In 59 games last season, he tallied just seven goals and nine assists for 16 points. Through his first 39 games in 2025-26, where he’s been banged up and missed some time due to injury, Dickinson has six goals and five assists for 11 points.
However, there’s no denying the impact he still provides defensively and on the penalty kill. Dickinson often plays in defensive situations and goes up against the opposing team’s top offensive players. He’s a responsible player on the ice and one of the most underrated defensive centers in the league. There isn’t anything flashy about his game, but he’s effective and knows his role.
Back on Jan. 19, Seravalli was once again a guest on CHSN’s pregame show, and he mentioned that Dickinson is expected to net the Blackhawks somewhere in the ballpark of a second-round pick plus a prospect in a trade. Centers are hard to come by right now in the trade market, which will benefit Chicago and GM Kyle Davidson.
Dickinson’s contract carries a $4.25 million cap hit, and it will be fascinating to see if the Blackhawks wind up retaining any salary when he gets moved. Davidson has only two retained salary spots to work with at the deadline, with roughly 26 percent of Seth Jones’ cap hit still on their books.
Here’s what Johnston had to say about Dickinson, who came in at No. 29 on his trade board:
“A defense-first center who specializes in smothering opponents, Dickinson is ideally suited for a bottom-six role on a strong team. He’s produced strong underlying metrics for the Blackhawks this season despite being fed a steady diet of defensive-zone starts. While Dickinson doesn’t produce much offense, he can anchor a shutdown line and bring added value as a penalty killer. He’s also playing on an expiring contract.”
Ilya Mikheyev
Mikheyev, who wasn’t mentioned by Seravalli on Sunday, is another pending UFA for the Blackhawks that was listed by Johnston. The 31-year-old winger has been exceptional in his second season with Chicago, being a leading factor behind the penalty kill’s success. Mikheyev has also picked up his offensive play in 2026, with four goals and five assists for nine points in 13 games this month.
There hasn’t been much discussion around the Blackhawks offering either Murphy or Dickinson a contract extension, but there have been rumblings that they would like to keep Mikheyev if he’s interested. David Pagnotta of The Fourth Period mentioned earlier this month that the team was expected to reach out to Mikheyev’s camp to see if he’d like to be re-signed.
Considering his impact, it makes sense that the Blackhawks would like to bring Mikheyev back as a bottom-six winger. He’s someone who goes about his business the right way and has been beloved by head coach Jeff Blashill, who fancies hard-nosed, no-nonsense types of players like Mikheyev. His swift skating meshes well with the style of play the team is trying to establish, and he’s also a perfect fit for Blashill’s aggressive penalty kill.
However, Mikheyev’s contributions this season have surely made him an attractive trade target for teams looking to improve their penalty kill and add some speed on the wing. Mikheyev’s value will likely never be higher, as he carries only a $4.03 million cap hit with his contract. Should the Blackhawks move on from him, they could be looking at a nice return.
Here’s what Johnston wrote up about Mikheyev, who came in at No. 19:
“A big winger capable of playing up and down the lineup, Mikheyev brings a fair amount of versatility with his game. He’s been deployed as a penalty-killer throughout his NHL career and is a threat to score short-handed. Not only is Mikheyev a pending UFA, 15 percent of his contract was retained by the Vancouver Canucks in a previous trade, so the cap hit on his deal is eligible to be reduced further.”
Moves Coming Before Olympics?
While many sellers around the league are getting proactive and starting to make moves before the Olympics, the Blackhawks don’t appear too likely to trade any of their players over the next week. Unless something comes across Davidson’s desk that he cannot pass up, he shouldn’t be in any rush to do business involving any of their UFAs.
At the moment, there aren’t any prospects knocking on the door for a call-up, although that time will surely come later on this year. Nick Lardis was just returned to Rockford on Monday to get consistent playing time during the Olympic break, and to also represent the IceHogs in the 2026 AHL All-Star game in February. There’s no hurry to bring him back up.
Chicago’s deadline roster additions are likely to come internally, with players like Frondell and Boisvert expected to sign their entry-level contracts and join the team later in the year. But both of those players are still in the midst of their respective seasons, with Frondell playing in Sweden’s SHL, and Boisvert playing for Boston University in the NCAA. It won’t be until late March, at the earliest, when either player makes the transition to the NHL.
Tuesday’s game against the Minnesota Wild was also the first time the Blackhawks had a fully-healthy roster since the early stages of the season, and they likely want to keep the group together for as long as possible. With four games remaining until a 22-day break, the mentality is to finish strong going into the Olympics, and the best way to achieve that isn’t by selling off pieces of the roster right now.
The time will come for the Blackhawks to start making trades. That time isn’t before the NHL roster freeze next Wednesday.
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