Everything felt so different just a year ago. You remember, right? The Winnipeg Jets were tearing through the league, stacking up 56 wins and parading the Presidents' Trophy around Canada Life Centre like they owned the place. Now? Honestly, it’s a bit of a disaster.
The fall from grace has been fast. Brutal, too. As of mid-January 2026, the Jets are sitting near the very bottom of the NHL standings—specifically 15th in the West and 31st overall. It’s the kind of nose-dive that turns a "win-now" locker room into a "who's-leaving-next" waiting room.
Winnipeg Jets Trade Rumors: The Sellers' Reality
General Manager Kevin Cheveldayoff isn't exactly known for being a "cowboy" when it comes to mid-season trades. He’s usually the guy who sits on his hands, waiting for the perfect value. But he can't do that this time. During his recent mid-season presser, Chevy basically admitted the team is paying the price for trading away so many picks in previous years.
They need assets. Badly.
The big name everyone is talking about right now is Luke Schenn. The 36-year-old veteran has been a professional about the whole thing, but rumors of a "rift" or at least a disconnect in Winnipeg have been bubbling. He was a healthy scratch recently on the night he was supposed to play his 1,100th career game. That's... not great.
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Insiders like David Pagnotta have noted that while Schenn hasn't demanded a way out, he’s definitely open to it. And why wouldn't he be? He’s a two-time Cup winner with a cheap $2.75 million cap hit. Teams like the Toronto Maple Leafs are already sniffing around. Brad Treliving needs defensive depth, and Schenn has history there. It’s almost too perfect for a third stint in the Blue and White.
The Logan Stanley Situation
Then there’s Logan Stanley. For years, Jets fans have been divided on the 6-foot-7 giant. Some saw a shut-down monster; others saw a guy who just couldn't keep up with the modern game's speed.
Guess what? He’s actually having a career year.
Stanley is currently the team’s fourth-leading scorer, which says a lot about his improvement and even more about the Jets' struggling forward group. Because his value is at an all-time high, the Winnipeg Jets trade rumors surrounding him are getting loud. If a team like the Colorado Avalanche or Edmonton Oilers wants a physical presence for a playoff run, Stanley is the prime target. He’s 27, he’s playing well, and he could actually fetch a decent return—maybe even a second-round pick or a B-level prospect.
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Who Else is on the Block?
It’s not just the defensemen. When a team is this far out of the hunt, nobody is truly safe, except maybe the core guys like Hellebuyck and Scheifele who are locked into massive deals.
- Nino Niederreiter: He’s the classic "playoff player." Every GM wants a guy who can grind in the corners and chip in 20 goals. His contract is manageable, and while he's had a bit of a down year, his underlying numbers are still solid.
- Alex Iafallo: Versatility is his middle name. He can play up and down the lineup. Contenders love guys who don't complain about ice time but can still kill penalties.
- Jonathan Toews: The hometown hero story was great for a few months, but it hasn't translated to wins. He’s on pace for maybe 7 or 8 goals. Still, a team looking for "leadership" might take a flyer on him for a late-round pick.
The Jets have about $7 million in cap space and zero retained salary slots used. That is a massive weapon. Even if they aren't trading their own stars, they can act as a third-party "broker." They take on a bad contract from a team like Vegas or Florida, and in exchange, they get a free draft pick. It’s boring business, but it’s how you rebuild a cupboard that Chevy admitted is looking a little bare.
Why This Deadline is Different
In previous years, Winnipeg was always the hunter. They were looking for that one piece—a Tyler Toffoli or a Sean Monahan—to push them over the top. This year, they are the hunted.
The Olympic roster freeze is coming up fast in February, which adds another layer of weirdness. Most GMs want their business done before the players head to Italy. If the Jets don't move Schenn or Stanley by then, the market might dry up as teams look elsewhere.
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What the Fans Should Expect
It's going to hurt to see some of these guys go. Especially if the return is just a bunch of 3rd and 4th round picks. But look at the standings. You can't stay stagnant when you're 31st in the league.
Cheveldayoff has a reputation for being loyal to a fault, but the "status quo" isn't working. The young kids like Elias Salomonsson and Tyrel Bauer need to play. You can't see what you have in the AHL if the path is blocked by veterans who are going to be gone in the summer anyway.
If you're a Jets fan, keep your eyes on the Toronto and Edmonton news cycles. Those two teams are desperate for what Winnipeg is selling. A deal involving Schenn to the Leafs feels almost inevitable at this point, especially with Chris Tanev dealing with injuries in Toronto.
Actionable Next Steps for Following the Rumors
If you want to stay ahead of the curve as the March trade deadline approaches, keep these specific things on your radar:
- Watch the Scratch List: If Luke Schenn or Alex Iafallo sit out for "trade-related reasons," a deal is likely minutes away.
- Monitor the Salary Cap: Check sites like PuckPedia. The moment the Jets use one of their three retention slots, it signals a major move is happening.
- Follow the "Big Three" Insiders: Elliotte Friedman, Pierre LeBrun, and David Pagnotta usually get the "Winnipeg is talking to..." scoops first.
- Look at the AHL Moose Roster: If Tyrel Bauer or Nikita Chibrikov get called up on a permanent basis, it means a veteran has been told to pack his bags.
The era of the President's Trophy Jets is over. It was fun while it lasted, but the "retool" starts now.