The Carolina Hurricanes and Dallas Stars came close to a Mikko Rantanen trade in the early hours of Friday morning. The deal was entirely contingent on Rantanen signing an extension in Dallas, however. As the hours ticked by, fans waited to see if the two sides could work something out. On Friday afternoon, they did. The Stars traded for Rantanen and signed him to an eight-year contract extension. With the dust having settled on this deal, let’s hand out grades for this second Mikko Rantanen trade of the season.
Full trade
The Dallas Stars have acquired forward Mikko Rantanen from the Carolina Hurricanes. In return, the Hurricanes have acquired forward Logan Stankoven, a conditional 2026 first-round pick, a 2026 third-round pick, a 2027 third-round pick, and a conditional 2028 first-round pick. There is no salary retention in this deal, with Dallas responsible for the remaining $4.625 million cap hit on Rantanen’s current deal.
The conditions for the first-round picks are rather straightforward. Both picks are top-10 protected. If these picks fall within the top-10 in the 2026 and/or 2028 NHL Drafts, they become unprotected first-round picks for the following years (2027 and/or 2029).
Hurricanes trade Mikko Rantanen
The Hurricanes traded for Rantanen hoping he made them a Stanley Cup contender this season. And had they kept him passed the 2025 NHL Trade Deadline, he might have done just that. Rantanen only scored six points in his games with Carolina this season. However, his underlying numbers suggest his offense would have come around.
General manager Eric Tulsky took a massive risk here. He did so with both trades, honestly. Tulsky went out to get a game-breaking forward who, theoretically, filled their most pressing need. And he did this without ensuring that forward was willing to sign a long-term contract extension.
It did not work. And the Hurricanes general manager admitted as much. As a result, he went out to get something for this player instead of losing him for nothing. To this end, he deserves some credit. Stankoven is not a slouch by any means, even with some recent on-ice struggles. And the four picks acquired in this deal can help the Hurricanes further bolster their roster down the line.
However, it remains a brutal look for Carolina to make this trade. It has been said that keeping Rantanen for a Stanley Cup run this year was the “easy thing.” Sometimes, though, the “easy thing” is not an incorrect path to take. Moreso than any other recent year, the Hurricanes had a path to the Stanley Cup Final out of the East. With Rantanen, they were among the teams in the driver’s seat. Without, their chances dwindle.
The Hurricanes didn’t trade the superstar winger for nothing. Stankoven could become a star for this team for a long, long time. Those first-round picks are tradeable assets, if nothing else. In saying all of this, it’s hard to give Carolina a glowing review when their chances at winning the Stanley Cup take this much of a hit with this deal.
Stars trade for Mikko Rantanen
The Stars did not need to trade for Mikko Rantanen. They had a very good team, though they had lost some of their key players. Miro Heiskanen went down with a knee injury before the 4 Nations Face-Off. And Tyler Seguin suffered a potential season-ending injury earlier in the year.
However, as the Hurricanes surmised back in January, you take the opportunity to add a player of Rantanen’s caliber when it arises. It certainly helps that Dallas did what Carolina couldn’t. The Stars signed the star winger to an eight-year contract worth a total of $96 million. It’s less than he would have made on the open market. But the lack of state income tax makes a world of difference.
The Stars did give up a lot for Rantanen. As mentioned, Stankoven could very well become a star. At one point this season, he was among the favorites to win the Calder Trophy. He even led all rookies in scoring for a period of time. He is a 22-year-old right-shot center who has his entire career ahead of him. Those sorts of players are never easy to trade.
In saying this, it’s a deal Dallas may be uniquely positioned to make. They are a Stanley Cup contender at this point in time. But they had the necessary young talent to make this deal. Players like Wyatt Johnston, Mavirk Bourque, or Thomas Harley could have found their way in this deal. They kept the majority of their young nucleus intact while making a move to try and win the Stanley Cup right now.
The Stars have come close to the Stanley Cup Final two years running. They needed to make a move to get over the hump in the postseason. This is the sort of deal that can get a team like Dallas into the Final and, potentially, celebrate with the Stanley Cup at the end of the season.
Grades and final thoughts
The Stars receive a high grade for this Mikko Rantanen trade. Dallas did pay a lot to get the superstar winger. However, they have him signed long-term at a price lower than they would have paid in NHL Free Agency. And they still have a lot of promising young players in the NHL to keep them competitive long after this trade.
The Hurricanes, however, receive a fine grade. They did do well to get something of value for Rantanen. And they did set themselves up to compete in the future, as well. This is going to raise their grade to a level higher than some may find agreeable. In saying this, though, it’s hard to ignore the “what if” scenarios about Carolina keeping Rantanen and gunning for their first Stanley Cup since 2006.
Dallas Stars grade: A+
Carolina Hurricanes grade: B-
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