Buffalo Sabres general manager Jarmo Kekalainen sidestepped questions about his interest in Winnipeg Jets goalie Connor Hellebuyck during his training camp press conference on Wednesday, but it sounds like there's now an additional hurdle to a potential blockbuster trade.
Elliotte Friedman of Sportsnet discussed the lingering Hellebuyck rumors on Friday's edition of the 32 Thoughts podcast, including an update on Sabres goaltender Ukko-Pekka Luukkonen, who's been mentioned as a possible piece of Buffalo's offer.
"Now I believe, and obviously nobody confirms these things, but now I believe that Luukkonen has Winnipeg on his no-trade [clause]," Friedman said. "The Jets want a goalie, so that complicates things.”
UPL had a five-team NTC go into effect on July 1, which is likely why the Sabres made a strong push to finalize a Hellebuyck deal before the 2026 NHL Draft in late June.
Speculation at the time suggested Buffalo and Winnipeg were close to an agreement, but Kekalainen wanted a swap with the No. 8 overall pick if he was going to include the No. 4 selection in the package and Jets counterpart Kevin Cheveldayoff wouldn't budge on that aspect.
Friedman confirmed those details, and added an interesting tidbit about a trickle-down effect the trade may have had on the draft.
"Buffalo, if they were going to trade the fourth, they wanted the eighth," the NHL insider said. "It's pretty clear now, especially the way they talk about him, Winnipeg wanted Viggo Bjorck badly but I don't think they wanted to draft him at four."
Friedman concluded the entire Hellebuyck situation is "in a holding pattern right now."
Sabres' Connor Hellebuyck trade offer isn't as appealing without UPL
Although Luukkonen has been maddeningly inconsistent across six years (four as a key contributor) in Buffalo, there's no doubt he carries far more trade value than Alex Lyon or Colten Ellis.
UPL posted strong numbers in two of the past three years — a .910 save percentage in 2023-24 and a .909 mark last season — but sandwiched in between was a campaign where he was borderline unplayable at times en route to an .887 SV% across 55 appearances.
Yet, Winnipeg would surely rather take a chance he eventually finds the missing consistency rather than take Lyon, a veteran backup who's an impending unrestricted free agent, or Ellis, who's coming off a rookie year where he played just 16 games.
It's possible Luukkonen could waive his NTC for the Jets is a deal was formally submitted, particularly if he's still focused on emerging as a No. 1 netminder. He'd have a chance to compete with Stuart Skinner for that role in Winnipeg.
That said, it probably speaks volumes that UPL was the focus on intense trade speculation around the draft and then, apparently, went on to instantly add the Jets to his list a few days later.
So, where does that leave the Hellebuyck talks for Buffalo?
Kekalainen has never appeared willing to overpay for the Olympic gold medalist. He's talked glowingly about the three-goalie rotation of UPL, Lyon and Ellis, and there was no traction during initial discussions when Cheveldayoff was seeking a king's ransom.
The Jets' demands seemingly haven't dropped too much despite Hellebuyck going public with his trade request and the upcoming start of the 2026-27 season. That's why the situation remains in a stalemate despite the superstar netminder's decision to skip the start of camp.
Although the outlook could always change if Winnipeg decides it's time to end the drama, it feels like the Sabres are just going to move forward with their trio for the time being.
Cheveldayoff appears prepared to let the situation drag into the regular season, likely with hope a contender either receives poor play between the pipes or suffers a key injury at the position. Only time will tell whether that approach works, or merely makes the standoff more heated.
Regardless, each passing day makes it more likely the Sabres will have UPL in the lineup Oct. 1 when they visit the Columbus Blue Jackets for their season opener.
Add us as a preferred source on Google