PUBLICATION
Sam Walker
February 6, 2026Â Â (1:31 PM)
Photo credit: Matt Krohn-Imagn Images
Seth Jones trade fallout just changed the Chicago Blackhawks, Florida Panthers, and 2026 first-round pick stakes.
Now a detail is landing late, and it matters.
The Florida Panthers’ first-round pick coming back is reportedly top-10 protected, and that condition was not widely spelled out when the deal hit.
That is the kind of fine print that shapes an entire rebuild.
If the Blackhawks are staring at a top-10 slot of their own, they cannot simply assume they can also grab Florida’s pick in that same range.
It changes how you talk yourself into a tank and how you project the floor of the return.
The mechanics are simple, but the impact is not. If Florida’s pick lands inside the top 10, Chicago waits, and the pick can slide to a future year instead.
“Yes, it turns out the Panthers’ top-10 pick is protected. The Blackhawks will receive their 2027 pick if it finishes top 10.
I’m told the Hawks’ front office was aware of this all along. Seems it was a failure by me and others to uncover and report it. Apologies!
Chicago also retained $2.5 million of Jones’ cap hit for the next five seasons, which was always the real cost of doing business.
Seth Jones’s trade twist jolts Chicago Blackhawks draft math
Blackhawks fans are not furious about the trade, they’re furious the terms feel like they showed up after the receipt printed.
Spencer Knight is still the centerpiece on Chicago’s side between the pipes.
Knight is 23, a 2019 first-round pick, taken by the Florida Panthers, and he finally gets a runway that is not blocked by a proven starter.
Jones, meanwhile, left Chicago with 7-20-27 in 42 games this season, and his man advantage impact travels well.
Florida’s push also becomes part of Chicago’s rooting interests, which is always a weird place to live.
If the Panthers stay strong, that pick stays late, protection becomes irrelevant, and everyone relaxes.
If Florida slips, that clause suddenly becomes the loudest part of the trade.
Either way, the next milestone is simple, watch where Florida sits heading into the draft picture, because Chicago’s board just got a lot more complicated.
Previously on Chicago Hockey Insider
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Trade completed between the Blackhawks and Panthers takes a turn as uncovered details come to light
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