Connor Hellebuyck trade would force Jets to admit uncomfortable truth

Connor Hellebuyck landing near the top of an August NHL trade-target list would be easy to dismiss if the Winnipeg Jets hadn’t already acknowledged listening to offers.

That changes things.

General manager Kevin Cheveldayoff confirmed in June that teams had called about Hellebuyck. Winnipeg hasn’t agreed to anything, and it isn’t being forced into a decision. Hellebuyck has five years remaining on his contract.

The Jets could shut this down whenever they want. They haven’t.

That doesn’t mean a trade is coming tomorrow. It does mean Winnipeg is at least willing to imagine life without the best goaltender the franchise has ever had. Once that door opens, closing it becomes considerably harder.

Winnipeg fell apart quickly

Only one season ago, the Jets owned the best record in hockey.

During the 2024-2025 season, Hellebuyck won 47 games and led the NHL with eight shutouts and a 2.00 goals-against average. He took home both the Hart Trophy and his third Vezina Trophy. Winnipeg finally looked capable of becoming more than the reliable regular-season team that disappeared each spring.

Then almost everything went backward.

The Jets stumbled to a 35–35–12 record last season and missed the playoffs. Hellebuyck underwent knee surgery in November before finishing with a 2.86 goals-against average and an .895 save percentage. Both were ugly by his standards.

So, what exactly are the Jets evaluating?

If they believe the knee contributed to his decline, trading him after the worst season of his career makes little sense. Hellebuyck is one year removed from being named the NHL’s most valuable player. He later backstopped the United States to an Olympic gold medal.

That isn’t a fading resume from five years ago. Most of it happened recently.

Winnipeg also signed Stuart Skinner to a two-year contract in July. Cheveldayoff said the move wasn’t connected to the Hellebuyck situation. Fair enough. Skinner can serve as an experienced backup.

He could also become the starter rather quickly if the right offer arrives.

A trade would settle the argument

There are practical reasons for Winnipeg to consider the move. Hellebuyck is 33 and carries an $8.5 million cap hit through 2030–31. A desperate team could offer Winnipeg young players and premium draft picks before age begins lowering his value.

The Buffalo Sabres have already come up as a possible trade destination. The Sabres need a goaltender, and Winnipeg would presumably demand a costly return.

The Jets might win the trade on a spreadsheet. They would almost certainly become worse next season.

Kyle Connor, Mark Scheifele and Josh Morrissey aren’t waiting around for draft picks to develop. Moving Hellebuyck would leave that veteran group without the player who has covered Winnipeg’s weaknesses for a decade.

Perhaps the Jets view last season as a temporary disaster. If so, keep him and try again. That is what a contender does.

If they trade him, spare everyone the softer language about retooling and flexibility. Winnipeg would be conceding that this group went as far as it could go.

The next era may eventually work. The current one would be over.