With the calendar officially turning to 2026, NHL front offices are already keeping an eye on their respective rosters and, inevitably, the NHL trade deadline. January always sees the transition from speculation to strategy, and a handful of recognizable names are quietly (and sometimes not so quietly) popping up in the rumor mill.
Some movements feel obvious, perhaps even threatening. Others could shake up the league. Here are the early trade rumors making the most noise to start the year.
Rasmus Andersson is still Calgary’s biggest decision
Should the Calgary Flames decide to sell, Rasmus Andersson remains the obvious starting point. A defenseman with the right shot who can log big minutes and play in all situations will always be valuable, especially for teams preparing for a playoff run.
Calgary has not yet committed to a full cut, but Andersson’s contract status and potentially significant return make him a prime candidate. If General Manager Craig Conroy decides to cash in, the return could be worth giving up any attempt to re-sign him, especially when it comes to contenders desperate to stabilize their blue line.
Auston Matthews and a rare moment of discomfort in Toronto
This is the topic that no one in Toronto wants to talk about, but everyone is watching it closely.
There are increasing rumors that Auston Matthews is not entirely comfortable with the way this season has been shaping up. Maybe he’s getting tired of the pressure that comes with playing in Toronto. Nothing has been said publicly and there is no official trade request. But when a superstar appears frustrated, the noise follows.
Injuries, relentless pressure and the post-Marner adjustment have all been mentioned as possible factors. Whether it’s fair or not, the speculation has opened the door to something that was unthinkable even a year ago: Can the Leafs at least listen if the situation does not improve?
Teams like San Jose and Detroit are loosely linked — not because a deal is likely, but because they are among the few with the resources and flexibility to even propose such a conversation. Toronto may eventually stop this altogether, but 2026 feels like a year where the Leafs can choose to become proactive rather than dismissive.
Things have quickly unraveled for Andrew Mangiapane in Edmonton.
The Oilers hoped that a lineup increase would make a difference, but that experiment failed almost immediately. His ice time evaporated, his role shrank and it became clear that the coaching staff had moved on. He says he’s happy in Edmonton, but with less than eight minutes per game and reports to follow, he’s open to waiving his no-trade clause.
This is not just about performance. Edmonton needs flexibility. Moving Mangiapane’s contract will free up valuable cap space: money the Oilers will need if they are serious about improving their depth. Bob Stauffer has already hinted that the team is looking for forward help, especially to revive a third line that has yet to deliver.
At this point, Mangiapane feels less like a “maybe” and more like a matter of timing.
Morgan Rielly and the Leafs’ Blue Line intersection
While Matthews is the headliner, Morgan Rielly’s name pops up often.
Toronto’s blueline issues, especially as key injuries have become a factor, have led to a need for reevaluation. If the Maple Leafs decide to retool instead of tweak, Rielly could become a serious trade chip. He’s proven, experienced and capable of playing heavy minutes, but also represents one of the few ways Toronto could meaningfully change its roster without affecting its core forward.
If the Leafs stumble again, expect Rielly’s name to circulate more aggressively. He has a full no-move clause in his deal, so ultimately it’s up to him whether he stays or goes.
The goalkeeper market can get weird
It wouldn’t be an NHL deadline day without goal-scoring drama.
Stuart Skinner has surfaced in speculative conversations, not because Pittsburgh is eager to move him, but because the goaltending market always tightens as contenders look for insurance. The Pens have a surplus of netminders and will have to choose two, maximum three. A deadline change of scenery is likely if he picks up his play ahead of the postseason. Skinner’s situation is worth keeping an eye on as the Penguins continue to be among the most aggressive teams in the NHL.
Marc-Andre Fleury is still floating around during ice sessions and could retire. Sellers could consider making moves, and the Montreal Canadiens are trying to evaluate the strength of their two goaltenders.
The bottom line
The 2026 trade negotiations do not feel quiet, but uncertain. Plenty of storylines can go in different directions. Big names are being discussed earlier than usual, cap space is once again a weapon and teams are no longer as patient as they used to be.
Whether it’s a surprise superstar talk in Toronto, a necessary cap dump in Edmonton, or a steady defenseman finally hitting the road in Calgary, this year has all the ingredients for chaos. And January is just the beginning.
Next: Why Connor Bedard isn’t “good enough” for Team Canada
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