Major NHL Goalie Swap
New Jersey Devils trade Jacob Markstrom to Florida Panthers for three players, enhancing roster flexibility
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Key Points
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New Jersey did not retain any salary on Markstrom's contract, so Florida absorbs the full cap hit (two-year, $12 million with a $6 million AAV), and Markstrom’s no-trade protection downgrades to a 20-team no-trade list effective July 1.
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Rodrigues has one year remaining on a four-year deal carrying an AAV of about $3.075 million.
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Jesper Boqvist is a former Devils draft pick who won a Stanley Cup with Florida and is in the last year of his $1.5 million AAV contract after contributing 4 goals and 13 points this season.
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Ben Steeves, a 24-year-old undrafted winger, spent last season in the AHL with the Charlotte Checkers, appearing in 72 games and collecting 45 points.
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Panthers also completed the acquisition of goaltender Akira Schmid in back-to-back moves, strengthening their goaltending depth alongside Markstrom.
The Florida Panthers traded for goaltender Jacob Markstrom on June 30, sending Evan Rodrigues, Jesper Boqvist, and Ben Steeves to the New Jersey Devils in a five-player swap, according to TSN. The deal ends the Sergei Bobrovsky era in South Florida and brings Markstrom back to the franchise that drafted him 31st overall in 2008.
New Jersey did not hold back any of Markstrom's salary. Florida absorbs his full $6 million cap hit through the 2027–28 season. Panthers GM Bill Zito called Markstrom "an established veteran leader" and said the team is "excited for him to return to South Florida," per WRAL.
Bobrovsky's Exit Opens the Door for Markstrom
The trade was driven by Bobrovsky's impending free agency. The 37-year-old led Florida to back-to-back Stanley Cup titles in 2024 and 2025. But his previous contract carried a $10 million cap hit, and theScore reported Florida was unwilling to give him the long-term deal he sought at his age.
Florida moved fast. On June 29, the Panthers first acquired goaltender Akira Schmid from the Vegas Golden Knights for a 2028 third-round pick. Then, less than 24 hours later, they landed Markstrom. The two moves give Florida a Markstrom–Schmid tandem heading into 2026–27, per USA Today.
Markstrom's Numbers Were Rough — With an Asterisk
Markstrom, 36, posted a 23-19-1 record last season with a .883 save percentage and a 3.07 goals-against average — both below league average. On the surface, those are not the numbers of a top starter. But The Hockey Writers noted that 7.5 of his goals allowed above expected came in a single 9-0 blowout loss. Strip that game out and his numbers look far more ordinary.
Florida is betting its two-Cup defensive system will help Markstrom bounce back. The Panthers built their dynasty by protecting goalies with a tight, structured system in front of the net. At 6-foot-6, Markstrom gives them a big frame to work with. The risk is real, but so is the logic behind the move.
Devils Shed a Contract and Pick Up Useful Depth
New Jersey gets three players back. Rodrigues, 32, scored 11 goals and added 20 assists in 69 games for Florida last season. He has one year left on his deal at a $3.075 million cap hit. Boqvist is a former Devils draft pick and Cup winner with Florida, earning $1.5 million in the final year of his contract. Both are expected to bolster New Jersey's bottom-six forward group, a weakness in 2025, per The Hockey Writers.
The third piece is Ben Steeves, a 24-year-old undrafted winger. He spent last season in the AHL with the Charlotte Checkers, posting 23 goals and 22 assists for 45 points in 72 games. Charlotte Checkers Hockey described him as a significant loss for Florida's pipeline. Devils fans largely celebrated the deal online, with one popular take calling the extra players "icing on the cake" after shedding Markstrom's contract.
Insider Ties Between the Two Front Offices Sped Up the Deal
The trade happened quickly, and there is a clear reason why. New Jersey's newly hired GM Sunny Mehta previously worked for Florida as assistant GM and head of analytics. He knew the Panthers' roster inside and out — especially Rodrigues and Boqvist — which likely made talks move faster, according to Pro Hockey Rumors.
By moving Rodrigues ($3.075M) and Boqvist ($1.5M), Florida cleared $4.575 million in cap space to help offset Markstrom's $6 million hit. The net cap increase for the Panthers is roughly $1.425 million. Florida still has an estimated $3.5 to $4.4 million of room under the $104 million cap ceiling, per The Athletic. Markstrom's no-trade protection also shifts from a full no-movement clause to a 20-team no-trade list starting July 1.
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