The Buffalo Sabres continue to work with the Winnipeg Jets on a potential blockbuster trade that would send goalie Connor Hellebuyck to Western New York before the 2026 NHL Draft.
Murat Ates of The Athletic reported Friday the Sabres' latest offer featured the No. 4 overall pick, a roster player and a prospect for the 2025 Hart Trophy winner but Buffalo also wanted Winnipeg, which sits at No. 8 in the draft order, to swap selections.
The Jets weren't willing to include their top-10 choice in the deal, per Ates. The sides are running out of time to reach an agreement with Round 1 set to take place Friday night at the KeyBank Center.
Buffalo finds itself in a tricky situation because it seems like Winnipeg would like to move Hellebuyck for assets in this year's draft. Sabres general manager Jarmo Kekalainen has other needs to address, including a top-six forward and second-pair defenseman, though.
Giving up the No. 4 selection for a goaltender, even one with the Hockey Hall of Fame track record of Hellebuyck, probably isn't the wisest allocation of resources. That's the type of pick that should be included in a trade for a legitimate first-line center.
The conversation changes if the Jets included the eighth choice, which would give Kekalainen an opportunity to flip No. 8 to fill another one of the club's most pressing needs. The Sabres' next scheduled pick, No. 20, doesn't carry nearly as much value.
It's also worth noting Hellebuyck is 33 years old, coming off the worst season of his storied career (.895 save percentage in 57 games) and remains under contract through the 2030-31 season with an $8.5 million salary. As a result, there's some built-in risk for the acquiring team.
Deadlines spur action, so it's possible the sides circle back before (or once) the first round gets underway on Friday night. The Jets' stance would have to shift substantially to make a deal, however.
Buffalo Sabres appear comfortable sticking with their current 3-goalie rotation in 2026-27
Perhaps it's merely Kekalainen holding his cards close to the vest amid high-stakes trade talks, but it sure sounds like the Sabres GM would be content running it back with Ukko-Pekka Luukkonen, Alex Lyon and Colten Ellis between the pipes next season.
"We have a lot of faith in the group," Kekalainen told reporters this week. "I think we talked to all of them in the three-goalie rotation. They had no objection to it, they liked it. They felt they had a great relationship, so that's something that, right now, we're thinking of just doing the same thing."
To his point, the approach worked quite well for Buffalo during the regular season. Here's a look at the numbers posted by the three netminders:
- Ukko-Pekka Luukkonen: .909 SV% in 35 games
- Alex Lyon: .906 SV% in 36 games
- Colten Ellis: .903 SV% in 16 games
Unfortunately for the Sabres, that success didn't carry over to the 2026 NHL Playoffs as UPL and Lyon combined to post an .893 SV% in 13 postseason games. Better play in the crease could have pushed the Blue and Gold past the Montreal Canadiens in the second round.
It raised questions about whether Buffalo needed to shake things up.
Kekalainen doesn't sound desperate to find a goaltending upgrade but the ongoing rumors linking his team to Hellebuyck suggest there may be a different stance behind the scenes.
All told, the conversation is always comes back to price. There's little doubt the 2026 Olympic gold medalist, even with what would be considered a modest bounce back by his elite standards, would be an upgrade over Luukkonen, Lyon and Ellis. He'd also give Buffalo a clear starter for the playoffs.
The Sabres can't give up three or four highly coveted trade assets for just Hellebuyck, though. They have too much other work to do this offseason and they'll need some major pieces to work with for those trade talks, too. That's why the No. 8 pick may be a sticking point.
We'll soon find out whether Buffalo and Winnipeg find enough common ground to get a deal done.
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