In the midst of a thrilling Stanley Cup Final, Wednesday's news cycle was dominated by a highly active trade market.
Surprisingly, both major trades involved starting goaltenders — a rare occurrence in the trade market.
Just weeks ago, we explored the potential of this summer's goalie trade market, noting a unique mix of teams needing a netminder, some willing to move one, and a salary cap increase of $4.5 million, which generally encourages more trades.
Two of the goalies mentioned in that analysis, Jacob Markstrom and Darcy Kuemper, were central to Wednesday's significant trades.
Let's dive in.
First, the trade between Calgary and New Jersey. Previously, the teams were close to a pre-trade deadline deal to send Markstrom to the Devils, but it fell through, and New Jersey acquired Jake Allen instead. Three months later, a week before the NHL Draft, they finally completed the anticipated trade. Flames fans might question if the return for a goalie with two years left on his contract is worthwhile.
**Keefe Embraces New Challenge as Devils Acquire Markstrom**
For the Devils, they acquire the No. 1 goalie they've needed for years. New Jersey has been among the bottom eight in team save percentage for three of the past four seasons, hindering the team's potential. Last year, the Devils finished with 112 points and eliminated the rival Rangers in the playoffs but fell short this season, missing the playoffs and finishing with the 30th-ranked save percentage.
GM Tom Fitzgerald indicated that the 10th overall pick in next week's draft could be moved to acquire a goalie, reminiscent of their 2013 acquisition of Cory Schneider. However, Fitzgerald retained the 10th pick and instead traded 6-foot-6, 230-pound, 23-year-old defenseman Kevin Bahl and a top-10 protected 2025 first-round pick to Calgary. If New Jersey picks within the top 10 next year, Calgary will receive an unprotected first-rounder in 2026.
Calgary retained 31.25% of Markstrom's remaining cap hit, so New Jersey gets him for two seasons at a $4.125 million AAV.
Markstrom waived his no-movement clause for the deal, expressing his eagerness for the challenge.
This is a big challenge,Markstrom said. "It's a big team with high expectations. As a goaltender, there's pressure, and I've been on teams with high goaltending expectations in a Canadian market. I know what's expected of me."
Moving from a retooling Flames team to a New Jersey team with significant potential, Markstrom has a better shot at the Stanley Cup. The Devils still have $16 million in cap space, which can be used for further roster upgrades, and they still have the 10th overall pick.
The Dustin Wolf Era Begins in Calgary
The Flames' early move into the off-season trade market, a week before the draft, raises questions among fans about whether they could have secured more by waiting. But with the deal done, the Flames turn to 23-year-old Dustin Wolf, a seventh-round pick in 2019 with notable achievements, including two WHL Goalie of the Year awards and two Baz Bastien Awards as the AHL's top netminder. Dan Vladar remains as the veteran guide. Wolf played 17 NHL games last season with an .893 save percentage.
Kings Trade Dubois to Capitals
A month and a half ago, we examined Los Angeles' options with Pierre-Luc Dubois, acquired from Winnipeg in 2023 with an $8.5 million AAV for eight years. Dubois had a disappointing 40-point season, leading to questions about his future with the Kings. GM Rob Blake found a taker in Washington for Dubois without retaining any salary. The Kings acquired Kuemper, who has some risk at 34 years old but brings Stanley Cup-winning experience. The Kings needed an upgrade in goal after starting David Rittich in the playoffs.
For the Capitals, who believe in Charlie Lindgren, acquiring Dubois addresses their center depth issues, especially with Alex Ovechkin approaching Wayne Gretzky's all-time goals record. Washington's minus-37 goal differential and low goals-per-game ranking made offensive improvement a priority.
We're looking to add more skill and goals," Caps GM Brian MacLellan said.
The trades involving Markstrom and Dubois are significant moves that could reshape the futures of the involved teams. Time will tell if Dubois boosts Washington's offense or if Markstrom propels the Devils to their full potential.
Scout's Analysis
To New Jersey: Jacob Markstrom
To Calgary: Kevin Bahl, conditional 2025 first-round pick
New Jersey acquired a desperately needed goalie, with Markstrom providing stability. Markstrom's performance improves with structured defense, though he sometimes struggles with early-game saves. Calgary gains a serviceable third-pairing defenseman in Bahl and a potentially valuable first-round pick.
To Washington: Pierre-Luc Dubois
**To Los Angeles: Darcy Kuemper**
Dubois' inconsistent effort in Los Angeles made him expendable, while Kuemper provides a much-needed upgrade in goal for the Kings. Dubois, at 26, still has potential but remains a risky acquisition for the Capitals.
These trades mark significant changes for the Flames, Devils, Kings, and Capitals as they navigate the evolving NHL landscape.
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