Trade Deadline: 5 NHL teams who should look to cash in on their first-round draft pick ahead of the 2024 trade deadline

The March 8 NHL trade deadline is fast approaching, meaning several contending teams will have to make decisions to improve their chances of winning this season while potentially sacrificing the future with first-round draft picks.

Realistically, even the bubble teams, chasing down wild-card spots in either conference, could mortgage a part of their future in a big deal while setting themselves up for a better year in 2024-25.

There are fewer player-for-player swaps in the salary cap era due to the complex nature of contracts. So, to stay in business, a prospect or draft pick is usually attached to a transition. Today, we look at five franchises that may have to move their first-round draft pick at the upcoming NHL trade deadline.

5 NHL teams who should look to cash in on their first-round draft pick ahead of the 2024 trade deadline

#1. Toronto Maple Leafs

The Toronto Maple Leafs have an 82% chance of making the playoffs but only a 3% chance of winning the Stanley Cup, according to data obtained from MoneyPuck. Considering it's been 57 years since they last won a championship or appeared in the Stanley Cup Final, time is ticking for this team, which is in win mode now and could end up being a wild-card team when the season ends.

Outside of the top five players, Auston Matthews, William Nylander, Mitch Marner, John Tavares and Morgan Rielly, there's a 15-point drop in points scored, which means the Maple Leafs have a secondary scoring issue. Furthermore, the difference between Rielly and the next highest-scoring defenseman is 26 points.

Even though this year's Leafs have solid goaltending, now that Ilya Samsonov has bounced back and Martin Jones has filled in amicably, the main concerns around the trade deadline for Toronto will be forwards and defense.

General manager Brad Treliving will need to get creative at the NHL trade deadline or risk another short playoff run, which would raise the temperature a few degrees in the presser cooker during the offseason.

#2. Edmonton Oilers

The Edmonton Oilers almost tied the NHL record for consecutive wins, 17, before coming one game short. Employing two of the game's most dynamic skaters, Connor McDavid and Leon Draisaitl, this team has been in win-now mode since 2015, when McDavid debuted. Still, it only has an appearance at the Western Conference (2022) to show for it.

Despite Stuart Skinner proving that he's an elite No. 1 goalie, he's got limited playoff experience, and that was one of the several reasons the Oilers bombed out in the second round last year.

Moreover, outside of Zack Hyman, Edmonton doesn't get a ton of scoring from its bottom six, and the defenseman, although improved, is incapable of shutting down other elite conference teams, making the Oilers interested in conducting business at the trade deadline.

Leon Draisailt and Connor McDavid, Edmonton Oilers

Originally projected to win it all at the start of the season, the Oilers couldn't escape the basement of the standings until a coaching change in November. There's pressure on general manager Ken Holland to work some magic at the upcoming NHL trade deadline to ensure that Edmonton at least plays in the Stanley Cup Final, if not win it.

Ultimately, time is running out on McDavid and Draisaitl's deals, and if they fail in the playoffs, this could be their last run together before a potential breakup starts in 2025.

#3. New York Rangers

The New York Rangers have one of the best lineups in the NHL, loaded with talented players like Artemi Panarin, Adam Fox and Igor Shesterkin. The closest the franchise has gotten to the Stanley Cup was a decade ago, losing in the 2014 final.

Although they have had a few near misses since then, including losing in the 2015 and 2022 Eastern Conference Final, they are another team on the cusp of winning it all if it can find the missing piece(s) to complete the squad at the trade deadline.

Tampa Bay Lightning vs. New York Rangers

Outside of goaltending, which is not the primary concern for Rangers fans, New York relies on Panarin to lead the team to victory every night, with little to no support. Former top draft picks like Alexia Lafreniere and Kaapo Kakko have never reached their potential, forcing veterans like Chris Kreider, Vincent Trocheck and Mika Zibanejad to either score every night or risk losing a hockey game.

Surprisingly, general manager Chris Drury doesn't want to part with a first-round draft pick at the trade deadline to make a deal. Still, if the Rangers continue to drop contests to weaker opponents and don't find creative ways to get offense from everyone, the lights could go out on Broadway much earlier than expected.

#4. New Jersey Devils

At one point, the New Jersey Devils were the best team in the NHL at the start of the 2023-24 season. Then, injuries plagued the lineup, dropping them entirely out of the playoff picture.

Now that Jack Hughes is back and Dougie Hamilton is on the way, the Devils will improve around the NHL trade deadline without acquiring anyone. However, this year's Devils could use some significant upgrades to keep general manager Tom Fitzgerald up at night.

Whether it is John Gibson, Jacob Markstrom, Juuse Saros or someone else, if there is chat about a potential goalie on the move, they are all linked to the Devils, who almost desperately need to acquire a veteran goalie at the trade deadline or risk missing the playoffs altogether.

Nico Daws has been solid since his callup, but no goalie in New Jersey currently has significant playoff experience, which could doom its playoff drive in the first or second round. Ultimately, there is still time to adjust this season's team and go on a deep playoff run. However, it could be another disappointing season in the Garden State without shaking things up.

#5. Washington Capitals

Realistically, several contending teams have first-round draft picks in their pockets, and if they want to upgrade their lineups, they may have to put those cards on the table at the trade deadline.

The Washington Capitals are not only pursuing a playoff spot, but captain Alex Ovechkin is chasing immortality as he approaches Wayne Gretzky's goal record. Considering he has two years left on his current deal, the organization would be wise to stay competitive so he can achieve the milestone with the only team he's ever played for.

As the lowest-scoring team in the NHL in 2023-24, the Capitals have underperformed all season, especially after losing Nicklas Backstrom for the year. Uncharacteristically, Ovechkin barely scored, and Washington relied on Charlie Lindgren to win games 1-0 or 2-1.

Although this season isn't a complete write-off, the Capitals only miss a piece or two and could alter their lineup at the trade deadline, becoming a dark horse for playoff upsets.

Unfortunately for Washington fans, this doesn't appear to be the time when general manager Brian MacLellan goes on all. However, since the Capitals are only three wins (six points) from a wild-card spot, there's still a sliver of hope to be a Cinderella team like the Florida Panthers in 2023.

Edited by R. Elahi