What happened: ESPN published report cards assessing the biggest trades of the 2026 NHL offseason, ranking which teams improved and which overpaid. The breakdown weighs the cost, fit, and term of each completed deal across the league. It arrives as front offices reshape their rosters ahead of the upcoming 2025-26 campaign.

Why it matters: Offseason grades set the early narrative for which contenders strengthened and which clubs took on risk heading into next season. How these moves age will shape playoff expectations and the pressure on the executives who made them. For fans, it is the first scorecard on a busy trade market.

What to watch: Watch whether the highest-graded deals translate into standings gains once the season opens, and which trades draw second-guessing if results lag.