In just over two years as Edmonton Oilers general manager, Stan Bowman has traded away two first-round picks, moved on from several longtime players, and made some pretty aggressive bets in pursuit of a Stanley Cup.

The results have been all over the map. Some moves have provided tremendous value, while others already look difficult to defend. With 14 trades impacting the NHL roster since Bowman took over on July 24, 2024, there’s now enough of a track record to evaluate his work.

Each trade will be graded based on what the Oilers needed at the time, the price Bowman paid, and how the move has aged since.

EDM acquires: Vasily Podkolzin

VAN acquires: 2025 Fourth-round pick. Later returned to Edmonton via Ottawa, used to select David Lewandowski.

Bowman’s acquisition of Podkolzin came just five days after the Oilers were rocked by offer sheets, and the trade essentially put the writing on the wall for Dylan Holloway’s time as an Oiler.

While the 2019 10th-overall pick struggled to establish himself at the NHL level in Vancouver, Bowman’s willingness to take a gamble on him has certainly paid off. Podkolzin has developed into the perfect winger for Leon Draisaitl and has continued to grow, coming off career highs in goals (19), assists (18), and points (37). For the price of just a fourth-round pick, Bowman’s first trade as Oilers GM was a massive success.

Grade: A

EDM acquires: Ty Emberson

SJS acquires: Cody Ceci, 2025 third-round pick (C Teddy Mutryn).

By moving off Ceci, the Oilers gained cap flexibility as they weighed whether to match the offer sheets, but ultimately declined both.

By 2024, Ceci had become a frequent target of criticism in Edmonton. On a cap-strapped team, his inconsistent play in a top-four role made his $3.25-million cap hit difficult to justify. Replacing Ceci with a younger, cheaper NHL defenceman while creating more than $2 million in cap flexibility made it easier to stomach attaching the third-round pick.

Grade: B

EDM acquires: Trent Frederic (75 per cent retained), Max Jones and Petr Hauser

BOS acquires: Max Wanner, 2025 second-round pick (C William Moore) and a 2026 fourth-round pick (C Zach Wooten)

NJD acquires: Shane Lachance

I can’t pretend I wasn’t a massive fan of Frederic as a Bruin or of the acquisition at the time. With the Oilers sitting at 35-21-4, Bowman paid a significant price to acquire the injured, pending unrestricted free agent. In Boston, Frederic had shown an ability to play up and down the lineup while bringing both physicality and some scoring touch.

His high-ankle sprain proved more severe than initially believed, providing some justification for his poor showing in the 2025 playoffs. Frederic ultimately re-signed in Edmonton, and while the extension itself isn’t factored into this grade, his seven points in 74 games in 2025-26 certainly impact how the original acquisition has aged. Jones, meanwhile, has provided little more than replacement-level depth.

Neither Wanner nor Lachance has developed into an NHL player to date, but surrendering two prospects and two draft picks for such little return reflects the grade.

Grade: D

EDM acquires: Jake Walman

SJS acquires: Carl Berglund, 2026 conditional first-round pick, later traded to Buffalo (C Ilia Morozov)

While it was tidy work by Sharks GM Mike Grier to get a first-round pick for a player Detroit paid to get rid of months earlier, I don’t mind Bowman’s side here.

Walman, who carried a $3.4-million cap hit through the 2025-26 season, proved to be an integral piece for the Oilers’ eventual Cup run in 2025. While he struggled last season, I expect him to bounce back in 2026-27, though his availability remains a concern considering he has never played more than 63 games in a season.

While surrendering the 20th-overall pick was a significant price, Walman’s impact during Edmonton’s 2025 Cup run and the fact that he remains a long-term piece of the blue line make the cost easier to justify.

Grade: B+

EDM: 2025 Fourth-round pick (F David Lewandowski)

VAN: Evander Kane

After missing the entire regular season, Kane returned for the 2024-25 playoffs with mixed results. While he did register 12 points in 21 playoff games, it was clear that the then-33-year-old had lost a step. With one year remaining at just over $5 million, the Oilers had to shed cap space with Evan Bouchard due for a raise.

Parting ways with a fan favourite and top-six winger is never easy, but with his play declining, recouping a fourth-round pick while shedding necessary cap space was a solid piece of business by Bowman.

Grade: B+

EDM acquires: 2027 fifth-round pick

BOS acquires: Viktor Arvidsson

Continuing to free up cap space, Bowman sent Viktor Arvidsson to Boston. When Arvidsson signed a two-year, $4-million contract the summer prior, the move looked like a home run. His track record suggested he could be a perfect fit in the Oilers’ top six, but that never materialized, and he found himself in and out of the lineup in the playoffs.

Moving off the Swede was the right decision, but his production at a 64-point pace for the Bruins during the 2025-26 season certainly hurts, considering it only cost them a fifth-round pick.

Grade: C+

EDM acquires: Isaac Howard

TBL acquires: Sam O’Reilly

One week later, Bowman made one of his more intriguing moves, acquiring 2025 Hobey Baker Award winner Isaac Howard.

In the season following the trade, Howard had an underwhelming NHL stint, but lit up the AHL, recording 50 points in 47 AHL games as a rookie. On the other hand, Sam O’Reilly swept the OHL regular season, playoff and Memorial Cup MVP awards.

I still like Howard’s upside, but after the season O’Reilly just put together, it’s difficult not to wonder whether Edmonton gave up the better prospect.

Grade: B

EDM acquires: Connor Ingram (41% retained)

UTA acquires: Future considerations

Ingram’s numbers were hardly spectacular after being called up from Bakersfield. That said, Ingram gave the Oilers serviceable goaltending at a time when the position desperately needed stability, serving as their starter down the stretch and into the playoffs.

Considering the acquisition cost was virtually nothing, it’s hard to find any fault with this move.

Grade: A-

EDM: Tristan Jarry, Sam Poulin

PIT: Stuart Skinner, Brett Kulak and 2029 second-round pick

While moving on from Skinner was understandable, targeting a goalie they could have claimed on waivers for free less than a year earlier was baffling. While Jarry started the 2025-26 season hot in Pittsburgh, his numbers plummeted once he got to Edmonton. Down the stretch of last season and into the playoffs, he wasn’t startable. And, oh yeah, he makes $5.375 million a season through 2027-28.

But Bowman didn’t just swap goaltenders, either. He also surrendered Brett Kulak, a proven playoff performer, and a 2029 second-round pick, while Skinner himself was only months away from unrestricted free agency.

After years of questions surrounding Edmonton’s goaltending, I get Bowman’s desire to swing big to finally address the position. Unfortunately, Jarry struggled badly after arriving, making an already questionable bet look even worse in hindsight.

Grade: F

EDM acquires: Spencer Stastney

NSH acquires: 2027 third-round pick

On paper, Stastney looked like the perfect replacement for Kulak. Younger, good skater, cheaper… but the results were underwhelming.

He eventually found himself out of the everyday lineup after recording just one point through 36 games and going -10. With Stastney entering camp this season fighting for a roster spot, a third-round pick was a steep price for a depth defenceman on a team already short on draft capital.

Grade: C-

EDM acquires: Connor Murphy (50 per cent retained)

CHI acquires: 2028 second-round pick

With the team still struggling in early March, it was evident upgrades were needed if they had any hope of making a deep playoff run.

Murphy, meanwhile, proved to be a natural fit on Edmonton’s blue line, bringing the steady, physical defensive presence the Oilers need alongside their more mobile defencemen.

Grade: A-

EDM acquires: Jason Dickinson (50 per cent retained), Colton Dach

CHI acquires: Andrew Mangiapane, 2027 first-round pick

After the trades, Dickinson seemed to fit quite well with the Oilers and added much-needed stability to the third line. Dach is intriguing as well. He is just 23 years old, hits everything that moves, and has a decent finishing touch.

While, the price was steep, especially given the Oilers’ early playoff exit, but the moves look better now that Bowman re-signed both veterans this offseason. Edmonton had to pay a premium to get Dickinson retained for 2025-26 while also unloading the Mangiapane contract, which Bowman himself had signed eight months earlier.

Grade: B

EDM acquires: Devon Levi, 2028 seventh-round pick

BUF acquires: 2028 third-round pick

As I recently wrote, Levi isn’t the can’t-miss prospect he once appeared to be, but there is still plenty to like. At just 24 years old, his college and AHL track record suggests legitimate starting-goaltender upside. Given Andersen’s injury history and Jarry’s inconsistent play, he should get his shot to prove he belongs at the next level.

For the relatively small price of moving down four rounds in the 2028 draft, it’s a gamble I’m more than willing to take.

Grade: B+

EDM acquires: Shakir Mukhamadullin, Zack Sharp

SJS acquires: Darnell Nurse

It was time. Nurse knew it, management knew it and the fans knew it. We all know what he wasn’t, but when you peel back the $9.25-million cap hit, there is still a legitimate top-four defenceman there. The Oilers will miss Nurse’s services in more ways than one, but given where they are now, the cap space is much more valuable.

Stan Bowman did what many thought was impossible: moving the entire cap hit while also bringing back value. Mukhamadullin, a 24-year-old former first-round pick, should slot nicely into the Oilers’ defence. More importantly, the deal gives Edmonton financial flexibility it simply hasn’t had in years.

Grade: A+

Bowman’s work on the trade market hasn’t been without its misses, with the Frederic and Jarry deals standing out. However, he’s also made several strong moves, highlighted by his ability to move Nurse’s entire $9.25-million cap hit without retaining money while still bringing back value.

Overall, Bowman’s work on the trade market earns a B.

Entering his third season as Oilers general manager, it will be interesting to see what he has up his sleeve with the kind of financial flexibility Edmonton hasn’t had in years.

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