The Chicago Blackhawks are in an interesting position right now. The wake up on Monday morning only five points out of a wild card spot in the Western Conference — close enough that there will be potentially important games down the stretch.
But, at the same time, the Blackhawks are also beginning their ascent out of their scorched earth rebuild. Young players are beginning to take over their lineup and lead the team. They’re relying heavily on young players to run the power play and kill penalties. And the centerpieces of the offense are Connor Bedard and Frank Nazar.
Welcome to a rock and a hard place. Do the Blackhawks consider pushing their chips in a little to make the games down the stretch more meaningful, or do they sell before the deadline again this year. Last night on the CHSN pregame show, Frank Seravalli weighed in on the Blackhawks’ plans before the trade deadline:
“I don’t think there’s any indecision there. I don’t think the Blackhawks have any disillusion about where exactly their place is in the standings, and when the time is going to be right to strike. They’re going to try to take advantage of some of the pending UFAs that they have in their lineup to continue to stockpile and build up that asset pool. “
He’s right. The Blackhawks should make decisions on their pending free agents — and the degree to which they are needed into the future. If there’s a player they would like to retain — I’m looking at you, Ilya Mikheyev — there should be (likely already have been) conversations that focus specifically on term in a possible extension. If the term the Blackhawks are comfortable with isn’t enough for the player, add that name to the list of available players.
The good news for the Blackhawks: the trade market is starting to set up nicely for them to benefit in what’s being labeled a good seller’s market.
Blue Line Trade Market
Let’s first recall what the Calgary Flames recently received from the Vegas Golden Knights for right-handed defenseman Rasmus Andersson (with 50 percent of his salary retained by Calgary):
defenseman Zach Whitecloud prospect defenseman Abram Wiebe a 1st round pick in the 2027 NHL Draft (top-10-protected) a conditional 2nd round pick in the 2028 NHL Draft (becomes a 2028 first if the Golden Knights win the Stanley Cup in 2026)Reports from a number of insiders since that trade was consummated — including Elliotte Friedman this weekend — have said the Blues are looking for something comparable for their top blue line asset, right-handed defenseman Justin Faulk.
Faulk, 33, has another year after this remaining on a contract that carries a $6.5M cap hit. Andersson, 29 was traded in the final season of a contract with a $5.5M cap hit without an extension in place; Vegas had long been reported to be his desired destination when he hits free agency this summer, though.
Enter Connor Murphy.
Kamil Krzaczynski-Imagn ImagesMurphy, 32, is in the final year of a contract that carries a $4.4M cap hit. And his name has continued to be at the top of the Blackhawks’ list on league-wide trade boards.
Murphy at 50 percent salary retention is cheaper than Andersson or Faulk. He’s in a walk-year, which limited the obligation of the acquiring team to just the rest of the regular season and playoffs. He’s been good and durable this year, and has been an exceptional leader in the room.
In short: Murphy may be an increasingly popular name on the trade market.
For those interested there were fewer teams represented on the press box seating chart for last night’s game — but almost the same number of bodies. The Los Angeles Kings checked in with three individuals in attendance. The Toronto Maple Leafs had two folks visiting (again) and the Vegas Golden Knights also had two sets of eyeballs on the action (again). Tampa, Anaheim and Nashville also had someone enjoying the popcorn with us.
Toronto is specifically interesting on this list (again) because their blue line is really banged up, they’re in win-now mode — which isn’t going well right now — and they’ve been the most consistent team with a visitor in the press box to watch the Blackhawks in January. And the names watching the Hawks on behalf of the Leafs have varied; it isn’t the same one guy who loves the soup of the day in Chicago.
Kamil Krzaczynski-Imagn ImagesOther Blackhawks trade chips
Murphy isn’t the only player on the Blackhawks who will likely get a lot of attention from contenders as we get closer to the pre-Olympic trade freeze and subsequent trade deadline. Matt Grzelcyk is the most affordable piece on the Chicago roster. Jason Dickinson continues to excel as a defensive center who can take on top matchups and play guys tough. Mikheyev is a wild card; if he wants more than two years on an extension, he might be one of the more intriguing players on the entire trade market.
Seravalli and others have also mentioned Blackhawks captain Nick Foligno. We’ll see if he wants to chase a championship at this stage of his career or just ride out the rest of the regular season with the C on his chest and then politely part ways.
The other factor that comes into play with all of these names except Grzelcyk is they’re all making north of a $4M cap hit. The Blackhawks not having to retain salary to unload Laurent Brossoit previously becomes increasingly significant because they have two remaining retention slot.
What is most interesting to me at this point in the Blackhawks’ organizational trajectory is what they specifically target in return for their veterans. They don’t need draft capital in the next two years. They haven’t traded for prospects; they prefer developing their own — and have plenty of them to develop in the immediate. As Seravalli pointed out on the pregame show (again) on Sunday, Anton Frondell might be their late-season roster addition of note.
But the good news is the Blackhawks playing fairly well this year is the value of their players is increasing. And, especially on the back end where right-handed defensemen are a need in a number of cities, the Blackhawks might have the right guy at the right time to do quite well when the calls come.
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