There are still plenty of things to unpack about the blockbuster trade that landed Mikko Rantanen on Tobacco Road, with Martin Necas and Jack Drury coming to the Front Range.
One of the first questions in the aftermath of the deal: What’s the next move for the Colorado Avalanche?
The Avs gained a little more salary cap flexibility in the trade. Rantanen’s cap hit this season is $9.25 million, while Necas and Drury are at $8.225 million combined.
Unless the Avs make a big trade for a player with term left on his contract before the March 7 deadline, that means one of the next questions will be: Will Colorado use that space to add another impact player this offseason?
Both Necas and Drury are under contract for one more season, while Rantanen will likely cost a lot more in 2025-26 for whatever team he signs with.
Let’s explore where the Avs stand one month out from the trade deadline, and peek into the future now that the NHL has set the expected cap ceiling for each of the next three seasons to come.
This season
Will Gabe Landeskog play in the regular season?
It’s the question that still lingers over everything. There are 29 days until the trade deadline. We’ve seen no indication that the Avs’ captain is ready to start practicing with the team. He’s going to need some runway, if and when that happens.
The Avs need to know, for cap planning purposes, because trying to fit his $7 million salary makes any more moves to add money before the deadline moot. Let’s assume he’s not going to play until the Stanley Cup Playoffs, at the earliest.
What’s the biggest need or needs now?
The Avs will have 13 capable NHL forwards once Valeri Nichushkin returns. Just adding Drury and getting a couple guys back from injuries has helped Jared Bednar find four lines that he likes.
Colorado could maybe use a center with some size — Drury and Parker Kelly are not that, and maybe Kelly could move to the wing if a bigger pivot was added.
The biggest need is on the blue line. The Avs have added six potential third-pairing defensemen since the end of last season, and none of them are regulars right now ahead of Sam Malinski and Keaton Middleton. Erik Brannstrom is long gone, three guys are in Loveland, Oliver Kylington has been hurt and Calvin de Haan has drifted out of the rotation.
This was a need before Josh Manson left Tuesday night’s game in Vancouver with a lower-body injury. Now, finding someone to slot in anywhere in the No. 4-6 range is even more important.
What’s the cap situation?
The Avs have $4.76 million in space, per CapFriendly, with 23 players on the roster. That includes 13 forwards (with Nichushkin) and eight defensemen (with Kylington), per PuckPedia.
They can place two of Kylington, de Haan and Middleton on waivers/send them to the Eagles to clear up more space. If Middleton is one of six defensemen left, the max space would be $6.61 million. The Avs could also trade a current roster player, which would create more flexibility but also a potential lineup hole.
What can they trade?
Colorado has two second-round picks and two fourths in the 2025 NHL draft. The Avs have already traded away their second- and third-round selections in the 2026 draft and a third in 2027.
That’s not completely barren. A second and a fourth could be a solid package for a No. 4 defenseman, or the two seconds could equal the buying power of a first-rounder.
The prospect pool is deeper now than it was before the 2024 draft, thanks to a large collection of picks made in Las Vegas. It would be hard to trade Calum Ritchie, unless it’s for an impact player — and likely one on a contract with years beyond this one remaining. Mikhail Gulyayev is the other guy with a high ceiling, but he’s also a young Russian defenseman with a TBD next to his ETA in North America.
This offseason
Cap ceiling: $95.5 million
Avs cap space: $8.975 million*
Signed: 10 forwards (or 11), 4 defensemen, 2 goalies
UFAs: F Jonathan Drouin, F Joel Kiviranta, D Calvin de Haan, D Oliver Kylington
RFAs: F Juuso Parssinen, D Sam Malinski
Prospects: F Calum Ritchie, F Nikita Prischepov, G Ilya Nabokov?
The asterisk is for Landeskog. If he is in the lineup to start next season, the number above is what the Avs have to work with. If the captain isn’t able to play, he’ll go back on long-term injured reserve and the Avs would have nearly $16 million in space.
Drouin, just like last year, looks like the top priority to retain. He’s been very good when available this year, but the availability concerns could affect his next contract.
There could be room to give Drouin a little more than he made this year, and still add another impact player — either a middle-six forward or top-four defenseman — depending on the market. Lots of teams have more money now that the cap ceiling is going up so much over the next three years.
Necas and Drury will also be among the players who are eligible to sign a contract extension July 1 for a deal that begins with the 2026-27 season. That could play into some of the long-term planning.
However this shakes out, there’s likely still a move or two to be made before the trade deadline to help this Avalanche team, and there could be yet another move or signing this offseason. The Avs need to get creative to keep pace with the top contenders, but there might be enough wiggle room below the cap ceiling to do it.
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