It’s been a heck of a week for the Colorado Avalanche. The club has made several crucial moves leading up to the NHL trade deadline. But it seems the most notable one is a trade that didn’t happen.
According to insider Elliotte Friedman, the Avalanche had a deal in place to bring back Nazem Kadri to Colorado.
However, the deal didn’t go through. That situation led to the Avalanche pivoting to Nic Roy.
“Prior to trading for Nicolas Roy, Colorado and Calgary did discuss Nazem Kadri. I have to assume the same picks Toronto received (a first and a fifth) were available, and there was an understanding of some level of retention. Never got over the finish line.”
Friedman didn’t elaborate on why the deal ultimately fell through. However, an interesting take emerged from Drew Livingstone, formerly of Sportsnet. Livingstone claims that the Flames and Avalanche indeed had a deal, but due to retention issues, Flames’ managed dropped the hammer on the trade.
Sounds like Calgary and Colorado had a deal in place for the Avs to reunite with Kadri with the Flames retaining some of the contract.
— Drew Livingstone (@ProducerDrew_) March 6, 2026
Flames ownership stepped in and kiboshed it so the Avs pivoted to landing Nicolas Roy from the Maple Leafs #GoAvsGo
Now, Livingstone is hardly an Elliotte Friedman. But the comment does make sense. There was o way the Avalanche could take on Kadri’s $7 million cap hit for the next three-plus seasons. So, retention had to be part of the trade.
However, the chatter has been clear about the Flames not wanting to retain on Kadri. That situation likely spooked ownership, leading to the deal getting nixed.
As for the return, it’s unclear. Perhaps we’ll know more in the coming days. But it’s safe to assume that the first and fifth-rounders that went to Toronto were in play. Also, you’d have to think the Flames wanted a little something else. That might have been a prospect or an additional draft pick.
I would venture to speculate that a roster player would have been part of the trade. The Flames would have had an open center spot. So, potentially someone like Ross Colton could have been going back the other way.
In the end, getting Roy was a huge boost. Yes, it was an overpay for Colorado. But the fact is that the club could have done much worse. The way the Avalanche’s current center depth looks, the team appears to be set for Game 1 of the 2026 Stanley Cup playoffs.