Once the expansion draft is over and the Vegas Golden Knights have an active roster, the other 30 teams will be able to fully assess their strengths and weaknesses heading into the entry draft, which takes place June 23 and 24.
With each club's GM on hand and everybody in the mood to improve, the draft often acts as a quasi trade deadline. The biggest deal in recent memory was in 2009, when future Hall of Famer Chris Pronger was dealt from the Anaheim Ducks to the Philadelphia Flyers minutes before the first pick. So there's a chance that a blockbuster trade will be made before Gary Bettman announces the No. 1 selection.
And with a multitude of teams in their "winning window" and the salary cap staying stagnant, many teams will be on the hunt for the right deal.
What could the biggest deal of draft day look like? Here are five that make sense:
Boston Bruins acquire Colorado Avalanche center Matt Duchene
Why the Bruins need Duchene: During the past few seasons, Boston has struggled to remain a relevant power in the East despite putting a great deal of effort into being competitive. Since signings such as David Backes and Matt Beleskey have not made a huge impact on the final result, it might be time for the B's to take a big swing. Both of Boston's superstar forwards, Patrice Bergeron and Brad Marchand, are 31 years old and top defenseman Zdeno Chara is 40, so the Bruins have only a few years left to win a Stanley Cup with the current core.
With Bergeron and David Krejci, Boston is strong up the middle, but it lacks a dominant offensive player. Despite Colorado's failures, Duchene still ranks 10th in the NHL in even-strength scoring per 60 minutes during the past three seasons.
What it might take: The Avalanche would probably like to turn things around quickly but should have their eye on the long term, which means they would demand a first-round pick and then some. In 2015, the Bruins landed Jakub Zboril, Jake DeBrusk and Zachary Senyshyn with consecutive picks in the first round. Colorado might ask for at least one of them as the "and then some" if approached about Duchene.
Minnesota Wild deal for Montreal Canadiens winger Alex Galchenyuk
Why the Wild need Galchenyuk: The Wild scored the second most 5-on-5 goals in the NHL under Bruce Boudreau last season, but when playoff time rolled around, their offense went flat. Credit St. Louis Blues goalie Jake Allen with stealing the Round 1 series from the Wild, but the first-round out acted as a reminder that Minnesota lacks a true superstar-level offensive talent who can take over a series. Galchenyuk hasn't been a great fit with Montreal, but he's been the team's second-best 5-on-5 scorer per 60 minutes. And if there's anyone who can unlock the 2012 No. 3 pick's full potential, it's Boudreau.
What it might take: For a team that's been in win-now mode for quite some time, the Wild have a number of top prospects who are nearly NHL-ready. That allows GM Chuck Fletcher to either move a current roster player, such as defenseman Marco Scandella or forward Charlie Coyle, or entice the Habs with a gifted young player.
Florida Panthers trade for Edmonton Oilers winger Jordan Eberle
Why the Panthers need Eberle: After entering last season with high expectations as the defending Atlantic Division champs, the Panthers were bitten by the injury bug, losing Jonathan Huberdeau for over 50 games and Nick Bjugstad, Aaron Ekblad and Aleksander Barkov for chunks of the campaign, as well. Even if they get healthy, the Panthers need to improve their scoring. Florida didn't have a single player over 55 points in 2016-17, and finally saw some signs of aging from Jaromir Jagr, who finished with 16 goals. Offensively tilted Eberle could be a good fit alongside one of the league's best two-way players in Barkov.
What it might take: By all reports, the price tag for Eberle's services isn't as high as you might expect for a player who has averaged 62 points per 82 games in his seven-year career; his cap hit of $6 million per season certainly has something to do with that. The Oilers should be looking for quality depth producers such as Bjugstad to build around young superstar Connor McDavid.
Anaheim Ducks land Buffalo Sabres winger Evander Kane
Why the Ducks need Kane: The Ducks have reached the Western Conference finals in two of the past three seasons but have come up short in their attempt to reach the Stanley Cup Final for the second time in Ryan Getzlaf's and Corey Perry's careers. Anaheim was a dominant defensive team in 2016-17, ranking fourth in 5-on-5 goals against per 60 minutes, but it was 15th in goals for. Kane might not be the best all-around player, but he scored 28 goals last season and has averaged 25 per 82 games in his career. The former Jet also brings a physical presence that would fit the Ducks' playing style.
What it might take: The Sabres don't have to deal Kane. He is an unrestricted free agent after this season, but, after hiring a new GM and a new coach, Buffalo is hoping to make the playoffs for the first time in the Jack Eichel era. If the Sabres are willing to move their scoring winger, they will be looking for one of Anaheim's quality defensemen, such as Sami Vatanen, Shea Theodore or Brandon Montour, in return.
New York Rangers trade for Carolina Hurricanes defenseman Justin Faulk
Why the Rangers need Faulk: With reports that defenseman Kevin Klein might elect to retire, the Rangers are badly in need of help on the blue line. Marc Staal is past his prime; Dan Girardi was bought out; and depth defenders Nick Holden and Steven Kampfer are not capable of taking on top competition. Ryan McDonagh is also New York's only defender who is an offensive threat. Faulk ranks 25th in the NHL in points during the past three seasons. On a team with more quality scorers, it's plausible to see the St. Paul, Minnesota, native produce at an even higher level. And the Hurricanes have a group of young blueliners (including some in the pipeline) who could make up the difference.
What it might take: At some point, the Hurricanes will want to take the next step from being a rebuilding team to being an actual competitor. Getting there will require much more offensive production. Carolina ranked 21st in goals for last season and had only one player (Jeff Skinner) clear 50 points. Kevin Hayes (49 points) and J.T. Miller (56 points) will be restricted free agents after next season. Either one could be attractive to Carolina in a one-for-one deal.