The 2020-21 season was a crazy one in hockey as it was the first full season during the COVID-19 pandemic. Divisions realigned and a shortened season ultimately led to a Stanley Cup Final consisting of two teams originally placed in the Atlantic Division. Before that matchup, the New York Islanders were potentially a goal away from earning a chance to win the Cup. This playoff run was a result of many factors, one of them being the acquisition of Kyle Palmieri from the New Jersey Devils.
The official trade was Kyle Palmieri and Travis Zajac getting shipped to the Islanders, with 50% retention on each of their expiring contracts, for AJ Greer, Mason Jobst, a 2021 first-round pick, and a 2022 fourth-round pick at the trade deadline. Zajac retired following the season, Greer has since bounced around the NHL and Jobst is in the American Hockey League (AHL) with the Buffalo Sabres organization. The two key pieces were the first-round selection and Palmieri, and both have been underwhelming returns.
New York Islanders, B-
It is hard to give the asset received a B- when he helped lead the team on a deep playoff run. However, Palmieri has been an Islander for three seasons now, and he has not lived up to the trade. In his first season, he had just two goals and four points in 17 regular season games before having seven goals and nine points in 19 playoff games. His playoff performance was strong, but that is all that he has done well with the Islanders. While the 2023-24 season has been his best, having 24 goals and 43 assists so far, it is still underwhelming for this to be his career year considering what was given up in the trade.
When giving up the haul the Islanders did, they expected to get a consistent scorer who can be relied on each shift. The Islanders were not expected by many to make as deep of a run, so giving up the pick that was projected to be in the 18-24 range was a gamble.
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The trade itself, a late first-round pick for a rental who scored seven goals in a playoff run was fair for the Islanders. However, his performance is what brings this grade down. While his contract was not built in with the trade, general manager Lou Lamoriello has yet to make a significant acquisition with the Islanders where he did not end up extending the player afterwards. Since the trade, Palmieri’s performance as the team’s second-line right wing has been nothing short of disappointing, and he now remains on the team that has very little upside as an expensive, aging winger.
New Jersey Devils, B
The Devils get a B on the trade, but just like the Islanders, it is far more complicated. At the time, the team consisted of a young group headlined by recent first-overall picks Jack Hughes and Nico Hischier, and Palmieri did not fit their window. Moving on from him and getting a first-round pick was good value, but the management of the assets brings the grade down.
When the trade was made, it appeared as if the Devils got great value. The Islanders were by no means favorites to make a deep playoff run, so it was expected for the first-round pick to be closer to the 18-24 range, not 29. Looking back and asking the “what-ifs” is a fun, but very complicated game to play. While the Devils ended up taking Chase Stillman, and very well may have anyway if they had selected in that 18-24 range, there is no doubt they would prefer other prospects taken before him such as Chaz Lucius, Jesper Wallstedt, Fabian Lysell, and Wyatt Johnston in hindsight. On a team that needs a goaltender more than anyone, Wallstedt would possibly have them in a playoff spot rather than the wild card race.
Again, we can only speculate what would have happened if they had traded Palmieri to a different team that provided them with a pick in that range, or if the Islanders had lost to the Boston Bruins or Pittsburgh Penguins during that run. Nonetheless, they still made a good trade. They were able to get good value for a player who was not going to be returning in a trade which returned a young prospect who is hoping to make the NHL at any moment now.
As the Islanders fight in the playoff race and Stillman heats up in the AHL, the assessment of this trade may swing even more in the Devils’ favor soon. The short term heavily favored the Islanders, but with no Stanley Cup to show for it, and no success since, there is likely some regret within the organization. And for the Devils, they got valuable assets that will pay dividends in the future.