The NHL Trade Deadline is right around the corner, and because of that, the rumour mill is heating up. With teams using this final stretch of games before the Olympic break to figure out their direction, chatter has picked up. And this year, it feels louder than usual, with more big-name players being tossed around as the Trade Deadline nears.

In this edition of NHL Trade Watch, we dig into the latest buzz surrounding the New York Rangers keeping Artemi Panarin out of their lineup for roster-related reasons. We also look at whether the Minnesota Wild are truly shopping Jesper Wallstedt, and finally, how realistic it is that Toronto Maple Leafs forward Bobby McMann ends up with the Edmonton Oilers before the Trade Deadline.

Panarin to the Islanders or Capitals?

Islanders Believability Rank: Less Believable
Capitals Believability Rank: More Believable

When you think about the Rangers and the New York Islanders, rivalry is usually the first thing that comes to mind. These are two teams that historically do not do much business with one another. Yes, they recently connected on a deal that sent Carson Soucy from the Rangers to the Islanders, but a move involving Panarin is a completely different conversation. In terms of a Trade Deadline scenario, dealing stars within the division is always more complex.

Panarin trade update RangersPanarin trade update Rangers

On the surface, it feels unlikely simply because they are both New York-based teams. However, according to reports from TSN’s Pierre LeBrun, several teams have already dropped out of the Panarin sweepstakes due to his desire for a contract extension. That does narrow the field. In that context, the Islanders become at least somewhat plausible, especially if the price comes down. There’s also the lifestyle factor. Panarin already lives in New York, so the transition would be minimal.

That said, another team appears to be a far more believable fit. The Washington Capitals have reportedly kicked tires on the Russian forward, and that scenario makes more sense. Trading Panarin to another Metropolitan Division team is one thing, but moving him to one of their biggest rivals would be a tougher sell. From Washington’s perspective, though, it adds up. With Alex Ovechkin getting older, adding an elite scoring winger to a lineup built around younger talent could be appealing. The Capitals also have the type of younger assets that could make a deal work from the Rangers’ side.

Believability Rank: Highly Believable

Reports suggest the Wild are pushing to move Jesper Wallstedt as part of an effort to add to their roster and make a legitimate push for the Stanley Cup. This is the type of move we see every year at the deadline. For clarity, trades like these often intensify as the Trade Deadline approaches.

The real question is which teams would be willing to part with a legitimate top-six forward in exchange for a future number-one goaltender. One team that makes sense is the Ottawa Senators. After years of instability in net, they finally landed Linus Ullmark in a deal with the Boston Bruins, but it hasn’t worked out quite the way they hoped. If that frustration continues, Ottawa could pivot and use a forward like Dylan Cozens or Shane Pinto to land a young goalie who could be part of their core for years.

Other teams worth watching include the Montreal Canadiens, who have an abundance of forward depth, and the St. Louis Blues. With Joel Hofer and Jordan Binnington already in the mix, St. Louis has options. If they were to move Binnington at the deadline, they could realistically build a package around someone like Robert Thomas or Jordan Kyrou and bring in Wallstedt as their goalie of the future. Ultimately, the Trade Deadline always brings surprises, and Wallstedt’s situation could be one to watch.

McMann to the Oilers?

Believability Rank: Believable

Finally, there’s the growing buzz that McMann could be headed to the Oilers as the Maple Leafs appear to be drifting toward a retool. On paper, it makes sense. In practice, it feels like Toronto’s front office may not all be on the same page. There’s a sense that this could turn into a last-ditch effort to save jobs. That means buying players or handing out extensions around the Olympic break instead of fully committing to selling and moving unrestricted free agents like McMann.

Bobby McMann OilersBobby McMann Oilers

Still, this one feels believable. If the Maple Leafs struggle on their upcoming Western Canada road trip, the writing may finally be on the wall. At that point, selling becomes unavoidable, and that likely includes McMann and Scott Laughton up front. McMann grew up in Alberta, so the idea of playing meaningful games and chasing a Stanley Cup with the Oilers would be a surreal opportunity for him. From Toronto’s perspective, the return could be significant. A first-round pick and additional assets, potentially including Andrew Mangiapane, feels realistic. It would be a bittersweet pill to swallow for Leafs Nation, no question. But it might also be the right one.

Up Next: Trade Pitch Would See Maple Leafs and Oilers Link Up on Multi-Player Deal