The Winnipeg Jets are off to a red-hot start (4-1-1) without All-Star goalie Connor Hellebuyck, raising further questions about what comes next in the long-running saga.
Hellebuyck was suspended by the organization after he didn't report for training camp following his public trade request, but Jets general manager Kevin Cheveldayoff hasn't backed off his sky-high asking price for the Olympic goal medalist.
Elliotte Friedman of Sportsnet explained Thursday on the 32 Thoughts podcast that he expects some movement in the near future amid speculation the goaltender may return to Winnipeg.
"I think there's a lot bubbling under the surface," the NHL insider said. "It's gonna be interesting next week. It's just gonna be interesting next week. There's so many rumblings about Hellebuyck coming back. And when. And what Winnipeg can do. You can just feel it's all coming to a head, right?"
The Buffalo Sabres have been the team most frequently linked to a blockbuster Hellebuyck trade, and it sounded like the clubs were working on an agreement that ultimately fell short ahead of the 2026 NHL Draft, but those discussions have seemingly faded in recent weeks.
Others clubs, like the Carolina Hurricanes, Florida Panthers, San Jose Sharks and Utah Mammoth, have been mentioned as potential landing spots at times, but there's still been no substantial movement since the 2026-27 season got underway in late September.
Hellebuyck, whose contract carries an $8.5 million AAV through 2030-31, isn't being paid while away from the team and, given the snail's pace of negotiations, may want to rejoin the Jets' active roster.
That'd represent a possible distraction for Winnipeg, which has watched Stuart Skinner posted a 3-0-1 record with a .917 save percentage after taking over the starting role.
Under the circumstances, would Cheveldayoff consider a different type of offer? Perhaps something centered around future assets, like prospects and high draft picks, as long as there's at least one NHL-ready contributor as part of the package? We'll see.
Ultimately, the situation isn't ideal for anybody. Hellebuyck wants to play, the Jets want to compete and rival front offices want a goaltending upgrade without paying a king's ransom for a 33-year-old netminder coming off the worst season of his decorated career. The NHL would probably like to see a player who gained a lot of popularity during the Olympics on the ice, too.
Maybe something will finally happen in the coming days to end the gridlock one way or another.
Sabres should make one last push for Connor Hellebuyck
Buffalo hoped the three-goalie rotation that worked so well for the club last season (Ukko-Pekka Luukkonen, Alex Lyon and Colten Ellis) could replicate that magic in 2026-27. It's far too early to draw any conclusions, but the early results have been underwhelming.
Luukkonen (.850 save percentage) and Ellis (.864) have struggled while Lyon has been sidelined by an upper-body injury. He recently suffered a setback in his recovery, which leaves him without a clear timetable for a return to game action.
So, while UPL did play better over his last two appearances, the Hellebuyck talk will continue to hover above the Sabres for as long as their goaltenders are faltering.
General manager Jarmo Kekalainen has never appeared desperate to make a trade but, as his frustrations mount amid the club's sluggish start, his stance could begin to shift.
Buffalo still makes the most sense for Hellebuyck on paper. It's a playoff contender with the No. 1 spot available on its goalie depth chart. The roster also features Tage Thompson, one of the goaltender's teammates on the 2026 Team USA Olympic squad.
Would it be a risk-free trade for the Sabres? No. The Michigan native posted a lackluster .895 SV% across 57 appearances for the Jets last season, and his recent playoff results (.872 SV% in his last 23 postseason games) are also a concern.
Yet, his track record puts him on a direct path to the Hockey Hall of Fame and it's hard to see Buffalo making a serious push toward a Stanley Cup title with Luukkonen, Lyon or Ellis. At some point, a bold move or two is typically required while chasing a championship.
It's also worth pointing out the Sabres don't have an elite goaltending prospect waiting in the wings, either. It traded Devon Levi to the Edmonton Oilers over the summer (and he's found immediate success), and the other netminders in the system are nowhere near NHL ready.
So, it's not like the remaining five years on Hellebuyck's contract would force the franchise to block its goalie of the future from making an impact. That player likely isn't even if the system right now.
If the Jets' demands are crazy — it was rumored their initial ask included rising star Zach Benson — it's perfectly understandable for Kekalainen to walk away.
But if Winnipeg's view is evolving because of its early success, now may be a perfect time to strike for Buffalo.
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