Buffalo Sabres

NHL Trade Talk Recap: Jets, Sabres, Maple Leafs & Canadiens Win Offseason?

Hellebuyck trade rumours heat up, Chayka’s Maple Leafs power debate grows, and Demidov’s deal looks like a Canadiens steal.

by
Old Prof
July 12, 2026

In today’s NHL Trade Talk Recap (July 12, 2026), we look at three teams facing the same basic problem: how to set themselves up for the future without getting crushed by the price tag. With the Jets, Connor Hellebuyck trade rumours are back in full force. The Sabres are looking like the team that makes the most sense. Fans are watching the Maple Leafs closely to see whether John Chayka really has full control. Or is he basically operating under Keith Pelley’s direction? And with the Canadiens, Ivan Demidov’s early extension is starting to look like a steal, especially as the market gets more expensive and other teams scramble to manage their own cap headaches.

NHL Trade Talk Recap Feb 8 — NHL Trade Talk Recap July 12

Hellebuyck Trade Talks Heating Up, And Buffalo Could Be the Fit

Connor Hellebuyck rumours around the Jets just got way louder again. Multiple insiders believe a trade is in the works, and the Buffalo Sabres are now seen as the most likely destination.

Some reports go even further, saying Hellebuyck wants out and may want to be traded to Buffalo. The sticking point during earlier talks was draft-pick compensation, but sources say the idea isn’t dead. The Sabres have the cap room to make it happen, and the “who goes in the deal” part doesn’t seem too complicated, since both sides are clearly interested.

Insider: Connor Hellebuyck Trade Almost Certain, And He Has Picked His Spot

Is Chayka Really Running the Maple Leafs, or Just Following Pelley’s Orders?

A reader made a pretty interesting point about Toronto’s new GM, John Chayka. Would he have been hired unless he picked a setup that required him to align with Keith Pelley’s overall vision for the organization? The “Pelley Plan” structure feels familiar to Maple Leafs fans. Some fans see echoes of the Shanahan-Treliving structure, where the person running hockey operations still had to operate within a larger corporate framework.

But so far Chayka seems to have room to make moves, which is a good sign. But the reporting structure still puts him clearly under Pelley, meaning big decisions likely need that approval either way. So he doesn’t look like a puppet. But it also raises the real question Maple Leafs fans care about. If things don’t work out again, who actually takes the heat?

Who Really Holds the Power with the Maple Leafs?

Ivan Demidov Canadiens goal — Ivan Demidov of the Canadiens

Demidov’s Extension Is Looking Like a Huge Win for Montreal

With Ivan Demidov locked up early, the Canadiens are starting to look really smart. After Leo Carlsson’s offer sheet drama with Philly (matched by Anaheim), everyone is paying attention to how much those deals cost. Demidov’s eight-year extension at $9.15M AAV looks like a bargain in comparison. That’s especially true when you consider the Ducks were forced into a much more expensive decision than they probably expected.

Montreal has already built a young core on team-friendly deals (Suzuki, Caufield, Slafkovsky, Dobson, Hutson), and Demidov’s deal just adds to that advantage. If they’d waited, his price could’ve jumped hard based on how good his rookie season was. And the market just keeps getting more expensive. Now the Canadiens can sit back while other teams scramble. When bargains pop up, they’ve got the cap flexibility to grab useful players.

Canadiens Might Have Won the Offseason Before It Even Started