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If the Winnipeg Jets get the best-case scenario out of potential Pierre-Luc Dubois and Connor Hellebuyck trades, a retool over a rebuild might be alright after all, writes Jacob Stoller.

THN.com/podcast.
Pierre-Luc Dubois and Chandler Stephenson slide into Connor Hellebuyck during Game 4 of the first round of the 2023 Stanley Cup playoffs.Pierre-Luc Dubois and Chandler Stephenson slide into Connor Hellebuyck during Game 4 of the first round of the 2023 Stanley Cup playoffs.

Those recent reports regarding Pierre-Luc Dubois and Connor Hellebuyck were only a formality.

For anyone paying attention to the Winnipeg Jets, it was hardly surprising when the Athletic reported that Pierre-Luc Dubois requested a trade and Connor Hellebuyck does not intend to re-sign with the Jets after his contract expires.

Dubois was coy whenever asked about the prospect of committing long-term to the NHL’s smallest market, and his desire to play elsewhere eventually became an open secret. His agent, Pat Brisson, even fanned the fire last summer when speaking publicly of his client's interest in becoming a Montreal Canadien one day. And during his season-ending media availability, Dubois emphasized how he values the right to choose where he plays as a UFA.

Hellebuyck — who enters next season on the final year of his six-year, $37-million contract — foreshadowed this in his final press conference. The Vezina-caliber goaltender spoke of how his sights are set on winning a Stanley Cup. After a half-decade of Winnipeg failing to advance past the second round on the heels of their Western Conference final appearance in 2017-18, there’s no doubt Winnipeg’s contention window has closed.

It’s shaping up to be the end of an era.

While Mark Scheifele and Blake Wheeler are likely also on their way out — given that they, too, enter next season as pending UFAs — neither of those players will garner the type of haul that Hellebuyck or Dubois could. 

While the Jets’ desire to undergo a retool as opposed to a rebuild has been met with plenty of eye-rolls from fans and media, Winnipeg is in a much better position to re-configure its roster than many seem to believe. Well, as good of a spot as you can be when you’ve got an elite goalie and high-end center — who you traded a fan favorite in Patrik Laine for — wanting out.

The key for Jets GM Kevin Cheveldayoff to maximize the return for Dubois and Hellebuyck is to orchestrate sign-and-trades for both players. Winnipeg is already working on that with Dubois and Brisson, according to the Athletic, and they’d be wise to approach Hellebuyck’s camp about doing the same if they haven’t already.

Hellebuyck is one of the best goaltenders on the planet. Between his Vezina-winning 2019-20 campaign to this year, the former first-team all-star has recorded the most shutouts (18) and second-most wins (121) while maintaining a .917 save percentage. Those figures are even more impressive when you account for his heavy workload, as Hellebuyck faced the most shots of any goalie (7,250) and played in the second most back-to-backs (11) over the past four seasons.

The starting point for a Hellebuyck trade is probably somewhere between a first-round pick and either a top prospect or a young NHL player under team control. While going the sign-and-trade route with Hellebuyck — who is eligible to sign an extension as of July 1 — limits the number of teams Cheveldayoff can work with, it’d likely equate to the Jets receiving a more valuable package in return. 

The Jets have some leverage, too. Remember, the Jets don’t need to trade Hellebuyck this summer. They could always wait until the trade deadline, where they could net a king's ransom (especially if the Jets retained 50 percent of his contract). And given the lengths they’ve gone to make it known they aren’t rebuilding, any team negotiating with the Jets knows there’s a chance Winnipeg hangs on to Hellebuyck and either runs it back one last time or flips him at the deadline.

So if you’re, say, the New Jersey Devils or Los Angeles Kings — two teams that would become legitimate Stanley Cup contenders by adding an elite goaltender — and Hellebuyck is open to a sign-and-trade, you should be doing everything you can, within reason, to land him. 

This upcoming season, Hellebuyck carries a reasonable cap hit of about $6.17 million, according to CapFriendly. If that means you trade away an A-level prospect over several B-level trade chips, then so be it. 

For the Kings, that’d mean trading Quinton Byfield as opposed to compiling a package comprised of picks and a player like Gabriel Vilardi. For the Devils, that’d mean moving Dawson Mercer, as opposed to draft capital and a prospect like Alexander Holtz.

Dubois, on the other hand, isn’t a bona fide franchise player like Hellebuyck – although the 24-year-old center has immense value on the trade market. The 6-foot-4, 214-pound power forward boasts a combination of size, speed and competitiveness that teams highly covet. 

Coming off back-to-back seasons with at least 60 points, Dubois is still just scratching the surface of his upside. Getting a player of his caliber at his age on a max-term deal? It virtually never happens. He’ll be in high demand.

Montreal has been the favorite to land Dubois for a while now. From the outside looking in, it makes too much sense not to happen. 

Not only would it lock in the Habs’ top two centers for the foreseeable future, with Nick Suzuki locked up for another seven years, but it’d be tremendous from an optics perspective. Adding a young, talented budding star from Quebec is marketing and public relations gold. 

The question is, how badly does Montreal want — or need — it to happen? 

While one could think the Canadiens have all the leverage, there are other teams that Dubois is likely willing to play for. If the Canadiens really want the player, there’s no point in dragging their feet on the price point. Any trade with Montreal could likely involve either a package surrounding the No. 5 pick in the 2023 draft or Kirby Dach. Given that this year's draft is one of the most stacked in recent memory, the Jets might have to take on a big salary (i.e Josh Anderson), or at least a portion of it, to close the deal. It’s hard to imagine Winnipeg balking at that opportunity.

Los Angeles has recently emerged as a dark horse to land Dubois. Byfield should be the target in that type of deal, too. Ranked second in THN's 2022 Future Watch Issue, the 2020 second overall pick hasn’t panned out as expected quite yet, but he’s worth targeting, given all the untapped potential within his 6-foot-5 frame.

The sign-and-trade route forges the Jets an opportunity to recalibrate and replenish their roster with younger, high-end NHL prospects. While NHL teams can oftentimes be hesitant to part with prospects before they hit their full potential, it’s also a copycat league, and you bet teams took notice of the trades that the Florida Panthers and Vegas Golden Knights made en route to reaching the Stanley Cup final.

Your move, Winnipeg.