Key Piece or Trade Chip? Oilers Need Answer on $41M Veteran This Season

Heading into the 2025-26 NHL season, it’s not entirely clear where Ryan Nugent-Hopkins sits on the Edmonton Oilers’ depth chart. He finds himself at a bit of a crossroads in his career. Once a lock in the team’s top six and a 100-point player, the veteran forward is now pegged to open the year as the Oilers’ third-line centre.

His spot on an elite power play seems to be secure, but with young, dynamic talent coming in, that may not last forever, especially if the downward trend on the man advantage from 2024-25 continues into this season.

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After battling through the 2025 Stanley Cup Final with a broken hand, the hope is that he has a bounce-back season. Frankly, the Oilers need it.

Nugent-Hopkins’ production dipped to 49 points last season, a sharp drop from his 104- and 67-point campaigns in the two seasons prior. Things are going the wrong direction and as he ages, questions about where he fits may linger. There’s a valuable player there — evidenced by his recent invite to the Team Canada Olympic Orientation — but his production needs to ramp up or the Oilers need to consider making a tougher decision.

What makes Nugent-Hopkins so valuable is his versatility and hockey IQ. Fortunately, that likely won’t decrease with age. In other ways, he’s losing ground. He can play on a power-play and penalty-kill. He can play center or wing, focusing on defense first, or playing up in the rush. That kind of flexibility makes him an asset. That is, until he’s not terrific at any one of those things any longer and there are better options for Edmonton to consider.

Could a Trade Be in the Cards?

The start of the 2025-26 season for Nuge will be important. If he returns healthy and gets off to a hot start, any worries about his effectiveness will subside. But, if he’s not producing and settles into more of a depth role, at what point do the Oilers wonder if they’re paying too much for a third-line guy, when they have someone like Adam Henrique around and playing fourth-line minutes?

If the Oilers feel the need to retool midseason, trade speculation surrounding Nugent-Hopkins could surface. It is important to note that he holds trade protection, so he isn’t going anywhere unless he wants to. But stranger things have happened when a player feels they’re no longer in the best situation.

Nugent-Hopkins is the longest-serving Oiler, so any thoughts of trading him will be difficult. He’s a true leader, a beloved teammate, and a proven performer who has experienced the ups and downs of being an Oiler. That said, if his usage no longer matches his cap hit, conversations will need to be had.

*Author’s Take:

Nugent-Hopkins is not a guy you trade until you feel you absolutely have to. A lot more needs to go wrong before the Oilers should discuss moving him out for another player. He’s on a value contract that will continue to look better as the cap goes up. He’s useful in many ways, even if he’s no longer a point-per-game player.

All that said, if he’s trending towards being a 40-point player and he’s not used as often on the power play, he’s an option management shouldn’t ignore, particularly if the Oilers can fill another hole like goaltending.

Give him time this season before pressing the panic button. There could still be a lot of game there.

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