Could the Oilers Trade Ryan Nugent-Hopkins to Canadiens for Mike Matheson? Exploring a Bold Deal That Helps Both Sides

The Edmonton Oilers’ offseason is in full swing, and with each passing day, the speculation surrounding their next big move only intensifies. Fresh off a heartbreaking Stanley Cup Final loss, the Oilers are evaluating their roster with one clear priority in mind: balancing the books while improving their defensive core. One name that continues to surface is Mike Matheson of the Montreal Canadiens, and according to multiple reports, Edmonton has expressed interest in acquiring the puck-moving blueliner. But with limited cap space, the question becomes: could veteran centre Ryan Nugent-Hopkins be the key to making such a deal happen?

It’s a scenario that might seem unlikely at first glance. After all, Nugent-Hopkins has been one of the faces of the Oilers franchise for over a decade. Drafted first overall in 2011, the 31-year-old has been a reliable, consistent presence down the middle, contributing offensively while playing a sound two-way game. However, his $5.125 million cap hit through the 2029-30 season represents a significant commitment for an Edmonton team that needs flexibility. If the Oilers believe their window to win is now, tough decisions may follow—and packaging Nugent-Hopkins in a deal for defensive reinforcements could be one of them.

Enter Mike Matheson, a player whose resurgence in Montreal has caught the attention of teams around the league. The 30-year-old defenseman posted career-high offensive numbers with the Canadiens, showcasing his skating ability, puck transition skills, and offensive instincts. He logged heavy minutes on the blue line, often being tasked with shutting down top opposition while generating plays from the back end. Matheson carries a $4.875 million cap hit through the 2025-26 season—a manageable figure for a top-four defenseman in today’s NHL market.

For the Oilers, Matheson offers precisely what they’ve been lacking: a mobile, offensively capable defender who can alleviate some of the pressure on Evan Bouchard and Darnell Nurse. In the Stanley Cup Final, Edmonton’s defensive depth was tested, and while they boast plenty of offensive firepower, their ability to defend in transition and break the puck out cleanly was a glaring weakness. Matheson’s addition would immediately stabilize that area, giving them a reliable presence who can eat minutes and contribute on special teams.

From Montreal’s perspective, acquiring Ryan Nugent-Hopkins could accelerate their rebuild while addressing a significant need down the middle. The Canadiens have promising young forwards like Nick Suzuki and Kirby Dach, but their centre depth beyond those names remains thin. Nugent-Hopkins brings experience, versatility, and proven production—attributes that would not only complement Montreal’s young core but provide a stabilizing influence in the locker room. His long-term contract, though a potential concern for some teams, may be seen as a positive for the Canadiens, locking in a dependable, two-way pivot for the foreseeable future.

But the trade isn’t as simple as a one-for-one swap. Given Matheson’s value and lower remaining term, the Canadiens would likely need to sweeten the deal to entice Edmonton. So, what could that look like?

A mid-round draft pick might be enough to spark interest, but it likely won’t close the deal. The Oilers are in a win-now mode, so a young prospect with NHL upside could be the more appealing route. Montreal boasts a deep prospect pool, with names like Owen Beck, Joshua Roy, and Logan Mailloux drawing league-wide attention. It’s unlikely the Canadiens would part with a top-tier prospect for a player approaching his early 30s, but a secondary prospect or a package including a third-round pick and a depth player might get conversations moving.

Alternatively, the deal could expand to include multiple pieces, addressing other needs for both organizations. Edmonton could attach another contract to shed additional cap space, or Montreal could seek to offload a veteran forward or goaltender to balance salaries. Creative asset management would be essential to ensure both sides come away satisfied, particularly given the salary cap complexities.

It’s worth noting that Edmonton general manager Jeff Jackson has emphasized strategic moves over reactionary trades. Moving a player like Nugent-Hopkins would not be taken lightly, especially considering his loyalty to the organization and contributions on and off the ice. However, the Oilers recognize that standing pat isn’t an option if they hope to return to the Stanley Cup Final and finish the job.

The Canadiens, meanwhile, are navigating a delicate rebuild, blending young talent with experienced veterans. General manager Kent Hughes has been calculated in his approach, avoiding short-sighted moves that could derail their long-term vision. Acquiring Nugent-Hopkins fits within that framework—adding a player who can contribute now without sacrificing core assets.

Both teams must weigh the risks and rewards. For Edmonton, the allure of strengthening their blue line with Matheson is undeniable, especially if it helps solidify their defensive structure. Yet losing Nugent-Hopkins would mean parting with a trusted, versatile forward who has been instrumental in their rise. Montreal gains a veteran centre who can ease the burden on their young stars but parts with a top-pairing defenseman integral to their progress over the past two seasons.

Ultimately, this hypothetical deal underscores the complex calculus facing NHL general managers. Cap management, roster needs, player development, and contract terms all intertwine, making trades of this magnitude rare but impactful.

If talks between the Oilers and Canadiens progress, expect both sides to explore creative solutions. Whether that means additional draft picks, prospects, or a multi-player swap remains to be seen. What’s clear is that the groundwork is being laid for potential movement, with Matheson and Nugent-Hopkins at the centre of speculation.

As Edmonton eyes another deep playoff run and Montreal continues to build for sustained success, a deal of this nature could reshape both franchises. Whether it materializes depends on the willingness to make bold, calculated moves—something both organizations may soon be forced to consider.