Five Key Stories: 1/26/26 – 2/1/26

As the calendar flips to February, the Olympic trade freeze is fast approaching with the trade deadline itself not long after.  We saw a couple of swaps happen this week while a star player is being held out; those are among the week’s key stories.

Islanders Start To Add: The Islanders find themselves in third place in the Metropolitan Division at the start of the month and GM Mathieu Darche has rewarded his group with a pair of additions.  First, they picked up defenseman Carson Soucy from the Rangers for a third-round pick, giving their back end some extra depth with Alexander Romanov out for the rest of the regular season.  Then, they made another cross-state swap, acquiring winger Ondrej Palat plus third and sixth-round picks from the Devils for winger Maxim Tsyplakov.  Palat gives the Isles some extra veteran depth with a good track record of playoff success but they’re also taking on his $6MM contract through next season which is why they also added some draft picks.  With several other players out for the season, New York still has ample LTIR room to try to further add to their group.

Wallstedt In Play? Minnesota has already made one swap of considerable significance this season when they added Quinn Hughes from Vancouver.  It appears GM Bill Guerin isn’t done on the trade front and is open to moving a key youngster to do so as multiple reports have suggested that goaltender Jesper Wallstedt could be dealt.  The 23-year-old was a first-round pick back in 2021 and is in his first full NHL season where he has impressed, posting a 2.72 GAA with a .913 SV%.  However, with Filip Gustavsson signed through 2031, Wallstedt may have more value to the Wild as a trade chip than as a promising backup goaltender.

Panarin Out For Roster Reasons: With the Rangers embarking on a retool, they won’t be re-signing veteran winger Artemi Panarin.  Rather than risk him getting injured before they can trade him, the team decided to sit him early as a healthy scratch although no move has come to fruition just yet.  Panarin is believed to be seeking a contract extension before he’ll sign off on a move, something that could take a lot of the usual buying contenders off the table.  With a cap charge of $11.643MM (New York can retain up to half in a trade), it may be difficult for New York to move Panarin before Wednesday’s roster freeze as the acquiring team may not want to take on that money for three weeks before he actually debuts.  Accordingly, it’s possible that this trade saga is still a few weeks away from being resolved.

Defense Extensions: A pair of blueliners at opposite ends of their careers received contract extensions this past week.  First, the Avalanche signed Sam Malinski to a four-year, $19MM extension, a big raise on his current $1.4MM price tag.  The 27-year-old is having a breakout year with 25 points in 53 games despite averaging less than 17 minutes per game.  With the signing, Colorado has five blueliners signed for next season at just under $30MM combined.  Meanwhile, Detroit locked up Ben Chiarot on a new three-year, $11.55MM deal, a small cut on his $4.75MM deal that’s about to expire.  The 34-year-old is holding down a regular spot on Detroit’s second pairing while being a physical shot blocker.  It’s likely that his playing time will tick down as the contract progresses but the deal now ensures they’ll have a fourth blueliner signed for next season with Simon Edvinsson still to sign as a key pending restricted free agent.

Done For The Season: It has been a rough last few seasons on the injury front for Canucks goaltender Thatcher Demko.  Unfortunately for him, a hip injury has ended his season prematurely as he’s set to undergo surgery.  Demko has battled knee, groin, and hip issues in recent years, limiting him to just 126 games since 2022-23.  On top of that, Vancouver acted quickly to sign him last summer and he’ll begin a new three-year deal next season at a cap hit of $8.5MM.  Veteran Kevin Lankinen will be leaned on down the stretch while youngster Nikita Tolopilo will likely get his first extended NHL look for a Canucks squad that’s already dead last in the standings.

Photo courtesy of Wendell Cruz-Imagn Images.

PHR Mailbag: Rangers, Kings, Blackhawks, Flyers, Bruins, Capitals, Cap Penalties

Topics in this edition of the PHR Mailbag include how much (or little) the Rangers might be selling, potential defense targets for the Bruins, and much more.  If your question doesn’t appear here, check back in last weekend’s mailbag while we’ll have one more next weekend as well.

lgr34561: Hi Rangers fan here. A few things. First of all, if you were in the GMs shoes (which you would probably do a much better job than Chris Drury), what direction would you take from here as in what kind of moves would you make? Second of all, do you think that a retool is enough (like Drury says) to put this team back into contention or is he just sugarcoating a long rebuild? Thank you!

Schwa: To piggyback here:

Curious if you expect any of the NMCs under contract to waive? Would you expect Drury to inquire with JT, Mika, and/or Trocheck and consider a heavier rebuild?

I imagine Trocheck would return quite a sum, given what the Canadiens gave up for Danault.

Are Mika and JT high-value given the current center market, despite the length of their contracts?

I’ve been one of those people who look at the Rangers and go ‘they can’t be that bad’.  That was me last season and heading into this year as well.  I say that because I completely get why Drury might still think that way.  With a high-end goalie, a solid group of forwards on paper, and a decent defense (when healthy), they shouldn’t be as bad as they have been.  And it’s why I believe Drury’s intention legitimately is a short-term retool and not an actual rebuild.

I don’t think they’re planning to blow up the core.  Instead, they’ll sell a bit at the deadline, get some future assets, then try to make a trade or free agent signing over the summer to get themselves back into the Wild Card picture at the very least.  It can be done and done with some success as long as they realize that success isn’t going to be defined by a long playoff run but simply by getting back to the playoffs and ideally getting some shine back from a reputational standpoint.

To move quickly to the second question for a moment, I don’t expect the other veterans with trade protection to be in play.  At most, maybe one if a team ponies up a better-than-expected return that Drury can’t refuse.  I think it’s going to be more like move Artemi Panarin, see if there’s a lateral swap for Alexis Lafreniere, maybe look at a move on the back end, and call it a day.  That’s based on my assumption that they’re still eyeing a playoff spot next season so they’re not going to want to give up a lot of talent.

Given how few sellers there are and the fact that a lot of the veteran Rangers could fill positions of need on other teams (particularly given the need for impact centers), I think New York could get big returns for several of their veterans.  Knowing that, I might be more inclined to do more of a multi-year rebuild, assuming that the veterans would waive their trade protection.  But, again, I think the plan is something pretty quick that technically doesn’t fill the definition of a rebuild.

Bigalval: I think the Kings need a full rebuild and changes on the administrative side also. Luc, Holland, and Hiller should all be fired. The game has passed Holland by; he had a brutal start when becoming the Kings’ general manager. Luc also has no clue and Hiller doesn’t know how to fix things. It was a horrible decision to let him coach this year. He should be fired soon, even with a rebuild. It’s probably gonna take four or five years to fix this mess. Thoughts?

Fundamentally, I agree that a shakeup is needed.  I had Jim Hiller being the first coach fired a while back, something that’s clearly not happening since Columbus wound up being the first team to pull the trigger on that front.  I’m not a big fan of speculating about people getting fired but that’s a card that still could get played at this point.

Given that Ken Holland is in his first season with the team, I don’t think he realistically would be in jeopardy of losing his job.  General managers tend to get a relatively long shelf life and while Holland is closer to the end of his career than the beginning (or even the middle), he probably gets a couple more years in some role.

Then we come to Luc Robitaille, who has been in this role since 2007.  He was a Hall of Fame player with his best days coming with the Kings, who have won two Stanley Cups with him in that role.  That’s a hard person to let go, even if I agree that a change of direction and vision might ultimately be beneficial in the long run.  Unless ownership decides they want to overhaul things, I’m not sure we’re at that point yet.  And even if we were, it might very well be Holland who would take over.

Personally, I’d like to see what this group can do with a new coach and a vision of trying to add some skill and speed to the lineup.  This is a playoff-caliber team, albeit more of a Wild Card team than a true contender.  But an influx of some skill and a more aggressive offensive style might get them going.  If that doesn’t happen, then using Anze Kopitar’s retirement as a springboard into a rebuild makes some sense.  If this core has gone as far as it can, then a step back to take two steps forward might not be the worst idea.  I’m not sure that will happen with the current administration in place, however.

rayk: Which pending UFA among Dickinson, Mikheyev, and Murphy has the most deadline trade value and which the least, assuming salary retention for all three?

Let’s start with Jason Dickinson ($2.125MM with maximum retention).  As expected, his breakout showing in his first couple of seasons in Chicago that showed signs of being unsustainable proved to be unsustainable.  Nonetheless, he’s a solid checking forward who can kill penalties and, perhaps most importantly, play center.  Center depth is always in high demand at this time of year and Dickinson’s physicality lends itself well to playoff-type hockey.  I expect he’ll get a lot of interest.

Ilya Mikheyev ($2.02MM with max retention) is having the best offensive season of the three and has also had some success killing penalties, particularly this season.  I think his value now is higher than it was when Chicago was paid to take on his contract but his history suggests he won’t be as successful in the limited role he’d have with a contender.  Where Dickinson is in the same type of role he’d have on a new team (just a little ice time), Mikheyev would be in line for a bigger drop so there are more question marks as to how impactful he’d be.  He’s someone I could see teams viewing as an option further down their list but I don’t think he’ll be as sought after.

Connor Murphy ($2.2MM with full retention) isn’t having a good year.  His best days are behind him but if you’re a playoff team looking for defensive depth, what are you typically looking for?  Good size, experience, penalty killing abilities, good shot blocker, and being right-handed is a bonus.  Technically, Murphy checks them all.  I don’t see a contending team wanting him to be more than a number six but I expect several teams will want him for that role if the Blackhawks are eating half of the remaining contract.

In terms of who’d get the biggest return, I’d go with Dickinson, then Murphy, then Mikheyev.  (I like Mikheyev but his profile is not the type that contenders typically seek out at this time of year.)  One thing worth noting, while this scenario had Chicago retaining on all three, they only have two retention slots available since one is being used on Seth Jones.

Black Ace57: Is it finally time for the Flyers to follow the Rangers’ lead and give up on this season and sell at the deadline?

To add onto this, why not do what the Flyers did in the past with trades like the Carter and Richards ones and at least try to shake things up without strictly buying or selling? Examples I’m thinking of are Wright with the Kraken or Power with the Sabres as targets.

Going into today’s action, the Flyers are eight points out of a top-three seed in the Metropolitan Division and ten points out in the Wild Card chase.  They have at least one game in hand on the teams holding those last playoff spots as well.  That’s not an insurmountable gap.  But it’s an improbable one.  And realistically, if they got to the postseason, I don’t think they’d be a tough out.  So yes, I’d say they should be in sell mode.

You note the old Jeff Carter and Mike Richards trades from a while back as a way to possibly reshape the roster without being a true seller.  But those players were impact centers with strong track records of winning hockey.  Who on Philadelphia’s roster has that type of history and reputation?  Travis Konecny is a nice player, a legitimate top-line winger.  Maybe he’s in that territory but swapping out your leading scorer for the sake of a change carries some big risks.  Owen Tippett feels like a potential change-of-scenery candidate so maybe there’s an option there but he’s not at the level of Carter and Richards and they may not be selling at the peak of his value.

The problem with saying they should be sellers is that they don’t have a lot to realistically sell.  Their pending UFAs are depth pieces that wouldn’t yield a return of consequence.  Rasmus Ristolainen can’t stay healthy which hurts his market.  I expect they’ll try to sign Trevor Zegras to a long-term pact.  They’re not moving Christian Dvorak after extending him while Sean Couturier’s contract takes him off the table.  On defense, Travis Sanheim isn’t moving, Cameron York probably isn’t in play, nor is Jamie Drysdale who they still have hopes for.

Maybe Bobby Brink is an option if the Flyers aren’t thrilled about what his next contract with arbitration rights might cost.  I could see Nick Seeler attracting some interest; he might be their best trade chip.  And while Samuel Ersson might be in play, how much value does he have in a down year?  So yes, while selling makes sense in theory, Philadelphia might not have much to sell.

sovietcanuckistanian: By all accounts, the Bruins made a legit effort/offer for Rasmus Andersson. I get that didn’t get him (he wanted LV and I guess Calgary took a better deal since he hasn’t signed an extension yet), but he clearly filled a glaring need. Who do they pivot to in terms of finding someone to fill that hole – given that their internal options aren’t cutting it at the moment?

The next most prominent right-shot defender in play is Dougie Hamilton.  I think it’s safe to say that option isn’t on the table.  Assuming they’re looking for someone who has some of Andersson’s attributes and isn’t a rental player, the next best option to look at might be Blues blueliner Justin Faulk.

He’s someone who would give them some secondary offense behind Charlie McAvoy while he’s still enough of a minutes-eater to easily slot into a top-four role.  While he’s not a defensive anchor, he’s still a capable penalty killer.  And with one year left after this on his contract, he’s not a pure rental either which might be appealing to GM Don Sweeney.  The $6.5MM cap charge will be a challenge to overcome though, given that it’s unlikely that St. Louis will retain on it whereas Calgary did on Andersson’s expiring deal.  But fit-wise, he’d fit the bill.

Mario Ferraro would also help and he’s easier to fit in on the cap but there’s no guarantee that he’ll move with the Sharks hanging around the playoff mix and trying to re-sign him.  Rasmus Ristolainen is also believed to be available but with his track record of injuries and Boston already having Nikita Zadorov, that might not be the best fit for them.  But overall, Faulk feels like the right fit for them if they can make the cap elements work.

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Kaapo Kahkonen Eyeing International Options For Next Season

Aside from serving as a backup in Montreal for one game this season, goaltender Kaapo Kahkonen has been exclusively in the minors with AHL Laval.  It was similar in 2024-25 as despite multiple waiver claims, he only got into two NHL contests with the rest coming in the minors.

With it becoming clearer that he is viewed as more of a third-string option around the NHL instead of a possible backup, it appears that Kahkonen is exploring other options for next season.  Expressen’s Johan Svensson and Mattias Persson report (subscription link) that Kahkonen intends to play overseas next season and is eyeing a spot in either Sweden’s SHL or Switzerland’s NL.

A fourth-round pick by Minnesota back in 2014, Kahkonen was, for a time, viewed as a possible goalie of the future for them.  San Jose felt the same way, acquiring him in 2022 for Jacob Middleton in the hopes that a change of scenery could get him going and stabilize their goaltending situation at the same time.

That didn’t happen and it would be fair to say that Kahkonen has had a bit of a nomadic journey since then.  In less than two years, the 29-year-old has spent time with San Jose, New Jersey, Winnipeg, Colorado, Florida (AHL only), and now Montreal after the Canadiens signed him to a one-year, one-way deal worth $1.15MM on the opening day of free agency.

For his career, Kahkonen has played in 140 games at the NHL level, posting a 3.34 GAA along with a .898 SV%, numbers that played a big role in his bouncing around as of late.  He’s been considerably better than that in the minors this season, putting up a 2.67 GAA with a .905 SV% in 20 games in Laval.

Rather than test the market to see if another opportunity to be a well-paid number three option materializes next season, it looks as if Kahkonen will look to play closer to home instead.  He’ll likely have to take a pay cut to do so, however, as seven-figure contracts for players are few and far between in other leagues.  But if riding around in the minors isn’t something he wants to do moving forward, heading back overseas is the logical next step for Kahkonen.

Golden Knights Recall Tanner Laczynski

The Golden Knights have brought up some extra forward depth heading into their game tonight against Anaheim.  The team announced (Twitter link) that they’ve recalled forward Tanner Laczynski from AHL Henderson.  Vegas had an open roster spot so no corresponding move needed to be made.

It’s the third recall of the season for the 28-year-old and it comes just two days after being sent back to the Silver Knights.  Since he played on Friday, he’s eligible to be recalled so quickly after being sent down.

Laczynski has played in eight games with Vegas this season but is still looking for his first goal of the campaign.  However, he has a pair of assists and has won just over half of his faceoffs while averaging 10:33 per game.  Over parts of five NHL campaigns now, he has three goals and four assists across 54 appearances.

While he hasn’t put up many points in the NHL, Laczynski has been quite productive this season with Henderson.  Through 33 games, he has 13 goals and 23 assists, putting him one point shy of last season’s output.

With the Olympic break coming up in a few days, it’s likely that Laczynski’s recall will be a short-term one as Vegas won’t want to further use up his waiver exemption while games aren’t being played.

Ducks Activate Troy Terry, Place Leo Carlsson On Injured Reserve

In advance of tonight’s home game against Vegas, the Anaheim Ducks activated Troy Terry, while Leo Carlsson has landed on injured reserve, per Derek Lee of The Hockey News

Although not yet official, Terry figures to return to the lineup, as noted by Lee, for his first action since January 6. Meanwhile, the Carlsson news is no real surprise, as he was listed as out three to five weeks in mid-January with a Morel-Lavallée lesion which required a procedure. With the young star’s Olympic status still in flux, today’s note is not necessarily indicative of an update, rather than that Anaheim simply hadn’t yet needed to place him on IR in terms of roster management. 

Even without two key players up front, the Ducks have started to turn the tide, winning seven of their last 10. A brutal stretch across New Years where they secured just one point in nine contests appeared to spell the end of a possible run, however, the team is right back into the Wild Card hunt as they aim to end a seven year playoff drought. 

The 28-year-old Terry had been playing at a peak level before going down with an upper-body injury, recording 42 points in 43 games, not previously coming so close to point-per-game output so far in his career. Terry particularly showcased playmaking ability, on pace to shatter his current career high of 38 assists, set in 2022-23. 

Terry’s metrics also indicate his new heights this season, with an all-time best 54.7% Corsi For in all situations, to go with an elite 91.2% Corsi For in power plays. Naturally having missed 10 games, the Colorado native has slipped among team leaders in scoring, but he still ranks fourth, right in the mix alongside the team’s dynamic young core. 

By end of week, Carlsson will have reached three weeks out, after his initial 3-5 week estimation. It’s not too late for some good news in the coming days, but it seems most likely the 21-year-old will have to miss Milan, at least benefiting from the time off. On the other hand Terry will give a big boost for Anaheim as they host the Golden Knights tonight, along with Seattle on Tuesday, before the Olympic Break.

Lightning Activate Victor Hedman, Reassign Maxim Groshev

Tampa Bay Lightning captain Victor Hedman is set to return under the lights of today’s Stadium Series game against Boston. The team activated him off injured reserve while assigning Maxim Groshev to the AHL in a corresponding transaction, as reported by Erik Erlendsson of Lightning Insider.

Hedman returning today has been expected in the last 24 hours,  but the team had to clear $841k of salary cap space, now out of the way.

The 35-year-old has been sidelined since December 9 after undergoing elbow surgery. Remarkably, even without their #1 defender, the Bolts managed to come away with an 18-3-2 record while he was absent, along with fellow key lefty Ryan McDonagh also missing time. The success is in large part thanks to J.J. Moser and Darren Raddysh, both who are having career years complementing each other in a top pairing role.

Despite being bothered by the lingering elbow issue prior to surgery, Hedman hardly missed a beat, posting 12 helpers in 18 games and handling business in his own end as well, all on 21:05 a night. Finally able to return to action, the 17-year veteran will also have an opportunity to make his Olympic Games debut shortly, where he’ll help lead Team Sweden in Milan.

Considering their dominance even while so thin on the back end, his return along with McDonagh is a scary thought for opponents ahead.

Headed back down, Groshev has been subject of several such transactions throughout the campaign so far, oftentimes a healthy scratch but managing to make his NHL debut in late December, along with another appearance early last week against Utah. The 24-year-old defender notched an assist in his debut, averaging 11:30 across the two games.

Naturally, with Hedman as well as McDonagh healthy again, Groshev could be set to spend the rest of the year with Syracuse, as opportunities narrow. Even if such is the case, the 2020 draftee impressively earned his way to an NHL debut and helped the Lightning hold down the fort, playing as strong as ever. Tonight will be a memorable event for the club as they take the ice at Raymond James Stadium, with a long-awaited return of their captain, no less.

Metro Notes: Thompson, Roy, Monahan

Washington Capitals starting goalie Logan Thompson has missed two straight games as he deals with an upper-body injury, but could be getting closer to a return. Bailey Johnson of The Washington Post reported that Thompson was on the ice this morning in what was a “very optional” practice for the Capitals. Per NHL.com’s Tom Gulitti, it’ll likely take until tomorrow to hear more firm word on Thompson’s availability, as Capitals head coach Spencer Carbery didn’t speak to the media.

Should Thompson be nearing a quick return to the ice after his injury, both the Capitals and Hockey Canada, stand to benefit. The Capitals need every standings point they can get their hands on to make a push for one of the Eastern Conference playoff spots, and getting Thompson back between the pipes would greatly help in their efforts to pick up wins. Thompson has a .912 save percentage and 2.46 goals against average in 38 games this season. Canada also stands to benefit if Thompson returns to health, as he’s a contender to be the team’s starter at the upcoming Winter Olympics in Italy. While Jordan Binnington brought Canada to victory at the 4-Nations Face-Off, he’s performed considerably worse than Thompson in NHL action so far in 2025-26.

Other notes from the Metropolitan Division:

  • Injured Capitals defenseman Matt Roy also skated this morning, despite being moved to injured reserve yesterday. Roy has missed three straight games with a lower-body injury, though he could end up returning to the roster relatively quickly after his mandated week-long stay on IR concludes. Roy has been Washington’s No. 3 defenseman this season, averaging 20:46 time on ice per game, including 2:27 per game on the penalty kill. As is the case with Thompson, getting Roy back quickly would be extremely beneficial as the Capitals look to enter the playoff picture.
  • Columbus Blue Jackets center Sean Monahan left the team’s victory yesterday as a result of an illness, not as a result of a hit he took in the first period of the game, according to The Athletic’s Aaron Portzline. Portzline added that the Blue Jackets’ locker room has been somewhat under the weather recently, as Mathieu Olivier played through an illness on Friday. While leaving a game due to an illness is certainly serious, given Monahan’s past injury history, it’s undoubtedly a relief that the veteran center’s absence is likely to be very limited. Monahan has nine goals and 26 points in 50 games this season, and scored 19 goals, 57 points in just 54 games in 2024-25.

Flyers Reassign Aleksei Kolosov

2/1/26: The Flyers announced today that Kolosov has been reassigned to AHL Lehigh Valley. The transaction indicates that Ersson is likely going to be able to dress for the Flyers’ game on Tuesday against the Washington Capitals.


1/31/26: With Samuel Ersson exiting Thursday’s game due to a lower-body injury, the Flyers needed some goaltending insurance for their game today against Los Angeles.  As expected, that insurance is Aleksei Kolosov as the team announced (Twitter link) that he has been recalled from AHL Lehigh Valley.  To make room on the roster, center Lane Pederson was sent down to the Phantoms.

Kolosov was sent down back on Wednesday when Daniel Vladar returned from injury.  He suited up last night against Springfield, making him recall-eligible once again.  The 24-year-old is now in his fourth stint with Philadelphia but it hasn’t resulted in much playing time.  He has just four appearances with the Flyers this season, two of which came in relief and has struggled in that small sample size, allowing eight goals on just 47 shots.

The fact that Ersson wasn’t placed on injured reserve suggests that the team doesn’t believe his injury is likely to keep him out for long.   Accordingly, this NHL stint for Kolosov could ultimately be short-lived.

As for Pederson, he got his first recall of the season a little under two weeks ago and had played fairly regularly since then, getting into five of six games.  It was his first action at the top level since 2023 with Columbus.  The 28-year-old was held off the scoresheet in those outings while averaging just under nine minutes per night.  Pederson has played in 37 games with Lehigh Valley this season, picking up 13 goals and 15 assists.

Calgary Flames Place Justin Kirkland On Waivers

The Calgary Flames have placed forward Justin Kirkland on waivers, according to Sportsnet’s Elliotte Friedman.

This is Kirkland’s second waiver placement of the year, as he was also waived in November. Kirkland has been on the Flames’ NHL roster since mid-December, serving largely as a spare forward option. He’s played in 20 total NHL games this season, and served as a healthy scratch for eight games, including yesterday.

In the 20 contests he was dressed for, Kirkland managed one goal and two points across 9:49 time on ice per game. He also managed to play a role on the Flames’ penalty kill, averaging nearly two minutes per game of short-handed ice time.

At the AHL level, Kirkland has been a steady top-six scoring option for the Flames’ affiliates, both when they were based in Stockton and now Calgary. Kirkland, who joined the Flames organization in 2019-20, has five goals and seven points in 14 AHL contests this season and had 30 points in 43 AHL games last year.

While there are some qualities that would suggest Kirkland is a candidate to be claimed — namely the fact that he can play center and has played on an NHL penalty kill with some regularity — it seems more likely he’ll once again clear waivers. The fact that he’s set to make $900K this year as an owner of a one-way contract contributes to the chances teams pass on claiming him.

While it’s certainly not impossible he gets claimed, largely for those aforementioned reasons, it remains the most likely outcome that Kirkland will remain in the organization he’s contributed to for the entirety of the 2020s.

Edmonton Oilers Place Calvin Pickard On Waivers

The Edmonton Oilers announced today that netminder Calvin Pickard has been placed on waivers, presumably for the purposes of reassignment to the team’s AHL affiliate, the Bakersfield Condors.

Taking the move at face value, it appears Pickard has lost his place in the Oilers’ crease as a result of the emergence of Connor Ingram. Ingram got into his first game with the Oilers in late December, and since joining their NHL roster, has posted a .901 save percentage and 2.55 goals against average. Those numbers are a significant step up from what Pickard was offering the Oilers this season, as the veteran has just an .871 save percentage across 16 games. Among goalies with 10 or more games played this season, Pickard’s .871 save percentage ranks inside the bottom ten.

But while Pickard’s 2025-26 season has been a struggle, it’s still somewhat surprising to see him land on waivers. He was a reliable backup for the club in each of the last two seasons, even appearing in a total of 13 playoff contests across the team’s back-to-back runs to the Stanley Cup Final. Pickard managed a 7-1 record in last season’s playoffs.

With the Oilers, like most teams, unlikely to have much of an appetite to carry three healthy goalies on their active roster, Pickard was the odd man out of Edmonton’s goalie picture. Mid-season trade acquisition Tristan Jarry has struggled mightily since arriving in Edmonton, but seeing as the Oilers have $5.375MM committed to Jarry for an additional two years after this one, it’s understandable that they’d want to give Jarry the priority to keep his NHL roster spot over Pickard.

As for whether Pickard might end up claimed, it seems entirely dependent on how much stock rival teams will place on his performance this season, weighed against his play from the prior two years. There do not appear to be an abundance of avenues for goaltending-needy teams to find upgrades. Because of how reliable Pickard was in 2023-24 and 2024-25, he likely stands a strong chance of being claimed.