Karlsson-skate 2-10

Welcome to the NHL Trade Buzz. There are 16 days remaining until the 2018 NHL Trade Deadline (3 p.m. ET, Feb. 26). What could general manager Pierre Dorion's contract extension mean to Erik Karlsson's future with the Ottawa Senators? Will Ryan McDonagh's upper-body injury affect his trade value for the New York Rangers? How will signing Lars Eller to a five-year contract affect the Washington Capitals' deadline strategy?

Ottawa Senators

If there was any doubt who will direct the Ottawa Senators' rebuild heading into the deadline and beyond, that was removed Friday when general manager Pierre Dorion signed a three-year extension.
How that will impact defenseman Erik Karlsson's future in Ottawa remains to be seen. Karlsson, who can become an unrestricted free agent after next season, said Saturday that he appreciated Dorion's support since the Senators selected him No. 15 in the 2008 NHL Draft, but the two-time Norris Trophy winner sounded uncertain about what moves might be coming.
"I think that the position we're in, changes are going to be made, that's just the way the business works," he said. "I think we're prepared for that, but further evaluation of things, I'm not really up to speed about. I don't know what direction we're going in since we haven't really spoken about it."

Dorion has some difficult decisions to make about which Senators to keep and which to move before the deadline. The most important will concern Karlsson, who could bring back significant pieces for the future if the Senators decided to trade him.
The Senators, 19-25-9 heading into their game at the Toronto Maple Leafs on Saturday (7 p.m. ET; SN, TVAS, NHL.TV), have had a disappointing season after losing to the Pittsburgh Penguins in the second overtime of Game 7 of the 2017 Eastern Conference Final. Now, they're looking to rebuild their foundation for the long term.
"Today's announcement reflects a renewed commitment to scouting, drafting and development," Senators owner Eugene Melnyk said in the release announcing Dorion's extension Friday. "It may require changes to our lineup. Rest assured, we will only tolerate pain with an endgame in mind: building an organization that wins -- at all levels -- year in and year out."

New York Rangers

The New York Rangers held captain Ryan McDonagh out of
their 4-3 win against the Calgary Flames
on Friday because of a lingering upper-body injury and did not travel with New York for its games at the Winnipeg Jets on Sunday (3 p.m. ET; NHLN, TSN3, MSG+, NHL.TV) and at the Minnesota Wild on Tuesday. That might raise concern among teams interested in trading for the 28-year-old left-shot defenseman.
The Rangers made it clear they intend to be sellers at the deadline with their announcement Thursday that any moves they make will be focused on the future, and not on trying to qualify for the Stanley Cup Playoffs this season. They appear to be open to listening to offers on most of their players, including McDonagh, whose is signed through the next season.
Although he would be more than a rental, teams will no doubt want to be sure he is healthy before acquiring him.

Washington Capitals

After signing center Lars Eller
to a five-year, $17.5 million contract
Saturday, the Capitals have one fewer concern heading into the deadline. Eller, 28, was eligible to become an unrestricted free agent on July 1.
"It's nice to know that Lars is going to be here going forward, so that takes that option off the table for us to consider," Capitals GM Brian MacLellan said. "We have a third-line center going forward."

Re-signing Eller, 28, without increasing his $3.5 million average annual value from his expiring contract also might help the Capitals re-sign defenseman John Carlson, a potential unrestricted free agent on July 1. MacLellan said the salary cap is projected to increase from $75 million this season to $79 million next season.
So, with Eller's salary cap charge unchanged, the Capitals should have some additional room in their budget.
"I just think that's a good price for a third-line center," MacLellan said. "So, it helps us on the overall cap, regardless of the number."
MacLellan said he has already had some discussions with Carlson's agent.
"I'm not going to comment on negotiations, but we're going to do everything we can to bring him back, yeah," he said.
Knowing Eller will be back next season also gives the Capitals some stability among their forwards should they choose to trade one to upgrade their defense. Forward Andre Burakovsky's future appeared unclear after the 23-year-old was a healthy scratch for their 4-2 win against the Columbus Blue Jackets on Friday, but coach Barry Trotz said Saturday he expects Burakovsky to play against the Detroit Red Wings on Sunday (3 p.m. ET; SN1, SNE, SNO, SNW, TVAS, NBCSWA, FS-D, NHL.TV).
After Burakovsky signed a two-year, $6 million contract last summer, the Capitals, who selected him with the No. 23 pick in the 2013 NHL Draft, hoped he'd score at least 20 goals this season, and he has 11 points (four goals, seven assists) in 28 games.

A fractured left thumb sidelined Burakovsky for 20 games, and he missed three games because of illness, but he also has been a healthy scratch three times.
Still, MacLellan hasn't given up him.
"I'm really confident that he's going to be a good player here, and he'll find it down the stretch for us," MacLellan said.