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Ryan S. Clark
ESPN NHL reporter

Jun 21, 2026, 08:00 PM ET

The 2026 NHL offseason trading window has opened.

With transactions arriving steadily, ESPN reporters assign grades to all significant moves and their effects, offering immediate analysis on the performance of involved general managers.

The Toronto Maple Leafs and Tampa Bay Lightning accelerated the pace when the Leafs secured pending free agent defenseman Darren Raddysh on Friday. Subsequently the Florida Panthers and Ottawa Senators elevated the action through a major swap that moved Brady Tkachuk to Florida while four high draft selections traveled to Ottawa.

Continue reading below and bookmark this page as additional trades emerge before the NHL draft on June 26-27 and free agency on July 1.

Note: The latest trades will be positioned at the top of the page.

June 21: Brady Tkachuk sent to the Panthers

Possessing Matthew Tkachuk alone did not satisfy the Florida Panthers. They completed the collection through the first major deal of the summer.

The Panthers obtained Brady Tkachuk from the Ottawa Senators for the Nos. 9 and 25 selections in this draft plus a 2029 first-round pick and a 2030 second-round pick.

What are the near-term and extended effects, beyond simplified travel for their parents? The following examines how each club fared and the broader implications.

Florida Panthers
Grade: A

Phrases such as there are levels to this recur frequently, and this deal illustrates the reason. The Tkachuk element itself has been anticipated. The NHL trend of prominent American players departing Canadian markets continues, with Matthew Tkachuk providing an early instance in 2022.

Regarding the trade mechanics, the first stage occurred earlier Sunday when Panthers general manager Bill Zito acquired the No. 25 pick from the Seattle Kraken by sending forward Mackie Samoskevich to Seattle.

Securing an additional first-round selection supplied Zito with flexibility and preserved cap room for future needs, given Samoskevich remained unsigned as a restricted free agent.

With those assets available, Zito presented a package centered on the No. 9 pick and another first-round choice, totaling three first-round selections overall. This approach underscored the urgency to acquire Brady Tkachuk and contend immediately.

Injuries to Aleksander Barkov and Matthew Tkachuk limited the Panthers pursuit of a third consecutive Stanley Cup last season. Integrating the second Tkachuk onto a projected healthy roster heightens an already formidable club.

Coach Paul Maurice can deploy a top-six forward unit featuring combinations of Barkov, Sam Bennett, Brad Marchand, Sam Reinhart, Carter Verhaeghe and the Tkachuk brothers.

All seven forwards remain under contract for at least two more seasons. Brady Tkachuk holds two years at 8.21 million dollars per season with a strong likelihood of extension. Matthew Tkachuk has four years at 9.50 million dollars annually.

PuckPedia estimates roughly 7.071 million dollars in remaining cap space after both Tkachuks join the roster, sufficient to resolve the primary free-agency question at goaltending.

Zito and staff have until July 1 to finalize goaltending plans, and the acquisition of the younger Tkachuk further establishes South Florida as an attractive destination.

Ottawa Senators
Grade: B+

The Senators faced a common dilemma with a star frequently viewed as a potential departure: trade the player promptly for substantial assets that aid both present and future, or attempt retention despite the risk of losing him without compensation in free agency.

General manager Steve Staios selected the trade route and secured a return for Brady Tkachuk comparable to packages obtained for Jack Eichel and Quinn Hughes. That element of the deal withstands scrutiny.

Attention now turns to the Senators outlook without Tkachuk, an area open to debate. The club holds three first-round picks in this draft along with more than 25.183 million dollars in projected cap space, enabling broad options before July 1.

Can Ottawa secure a direct replacement for Tkachuk or a close approximation in production? Additional considerations involve whether to target another power forward for consistent offense or prioritize the strongest offensive skill set irrespective of style.

Tkachuk posted 0.81 points per game across his Ottawa career and 0.98 points per game over 60 contests last season while recording 20 or more goals in seven of eight campaigns.

Locating a comparable free agent this summer presents challenges. Available options include Anthony Mantha, Mason Marchment and Alex Tuch, provided they remain unsigned or their rights are not moved before July 1. Additional candidates such as Jake DeBrusk may surface from teams seeking cap relief or roster changes.

Staios can highlight the Senators competitive position, as the club reached the playoffs in 2025-26 and aims for a third consecutive appearance plus a first-round series victory for the first time since 2016-17. A strong core featuring Drake Batherson, Thomas Chabot, Dylan Cozens, Shane Pinto, Jake Sanderson, Tim Stutzle and Linus Ullmark supports the pitch, though competition from other clubs will require time and possibly further resources to secure an optimal replacement. - Clark

June 19: Leafs acquire Raddysh from Lightning

The Maple Leafs obtained defenseman Darren Raddysh from the Lightning for Toronto fifth-round pick in the 2026 NHL draft. Raddysh signed an eight-year extension with the Maple Leafs valued at 8.5 million dollars annually.

Toronto Maple Leafs
Grade: B

The free-agent pool has grown shallower after Toronto claimed one of the stronger offensive defensemen available. Risk exists, however. Raddysh, 30, posted career highs last season with the Lightning: 22 goals, 48 assists, 70 points and plus-21 in 73 games while averaging 22:42 per game.

Many of those points arrived on a power play alongside Nikita Kucherov and others, yet the defenseman with a powerful shot will benefit from similar support in Toronto featuring Auston Matthews, William Nylander and potentially Gavin McKenna. New head coach Jim Hiller previously oversaw the power play during his assistant tenure under Mike Babcock.

Raddysh contributed in multiple areas in Tampa. Toronto general manager John Chayka described him as one of the NHL premier two-way defensemen with elite puck-moving skills, poise, competitiveness and strong play across all zones, consistent with last season results.

Emphasis remains on last season. Raddysh may represent a late bloomer who peaked as a top offensive defenseman, similar to Dan Boyle. Alternatively he may have maximized value ahead of unrestricted free agency.

The Leafs awarded an eight-year deal at 8.5 million dollars annually, slightly above the 836,000 dollars base salary from last season. Projections suggested closer to 8 million dollars on a six-year term, yet Toronto extended the length and amount to secure him before July 1.

He supplies a new power-play quarterback ahead of an anticipated trade of Morgan Rielly. While Raddysh may not replicate last season totals, they are unlikely to decline sharply. The addition strengthens a blue line requiring additional puck movers and neutral-zone presence, representing a calculated risk.

Tampa Bay Lightning
Grade: C+

The Lightning receive a fifth-round selection for negotiating rights to Raddysh, having previously surrendered a third-round pick for Jake Guentzel rights in 2023. They anticipated a hometown discount amid other roster needs and a substantial extension for Kucherov, yet the offered contract prompted departure.

General manager Julien BriseBois must now locate another offensive defenseman at lower cost and shorter term. Victor Hedman remains available for the top power-play unit, yet additional puck-moving support on the right side is required without an immediate internal option. The search continues. - Wyshynski

June 21: Brady Tkachuk sent to the Panthers

Florida PanthersGrade: A

Ottawa SenatorsGrade: B+

June 19: Leafs acquire Raddysh from Lightning

Toronto Maple LeafsGrade: B

Tampa Bay LightningGrade: C+

Florida Panthers
Grade: A

Ottawa Senators
Grade: B+

Toronto Maple Leafs
Grade: B

Tampa Bay Lightning
Grade: C+