Seth Jones Trade Creates Big Opportunity for Kyle Dubas and the Penguins Moving Forward

With just days left until the NHL trade deadline, teams have yet to sense the market and if they're going to pursue aggressively before this Friday's 3 p.m. ET/noon PT deadline.

Following on the heels of three significant deals over the weekend, a half-dozen others remain to be set up.

In the Eastern Conference, the Stanley Cup champion Florida Panthers made headlines by making a huge move, acquiring Seth Jones and resetting trade expectations.

Jones was traded to the Florida Panthers by the Chicago Blackhawks for goalie Spencer Knight and a conditional first-round pick in the 2026 NHL Draft. Florida also received a fourth-round pick in the 2026 draft.

Meanwhile, Erik Karlsson returned from a solid 4 Nations Face-Off showing with seven points in six NHL games, though he has a minus-7 rating.

With two additional years at a $10 million cap hit, his trade value could rise if Pittsburgh leaves some salary on their books.

Chicago kept $2.5 million of Jones' cap hit to acquire a young goalie prospect and a first-round pick, so could Kyle Dubas and the Penguins do the same with Karlsson?

Pittsburgh still has one salary retention spot open, with Reilly Smith and Jeff Petry under contract for the remainder of the season. Karlsson is a better scoring offensive player than Jones, but on par with Jones defensively.

If the Panthers were to shell out a premium for Jones, then Karlsson should bring back an even greater haul. The question is, who will make the jump? We will find out within the next four days.