The Price of a Cup: Inside the Golden Knights Depleted Pipeline

Even before NHL Commissioner Gary Bettman officially awarded Vegas an NHL franchise, future Golden Knights owner Bill Foley made a promise.

“Playoffs in three, Cup in six,” he said.

On both accounts, he made good on his word. The Golden Knights made the playoffs in the first year of their franchise’s existence, but it did take them exactly six years to win their first Stanley Cup.

It’s been said that the Stanley Cup is the hardest trophy to win in sports, and I couldn’t agree more. It’s not just about having good players; you need the right players. And to get those players, sometimes you have to make sacrifices.

For their entire existence, the Golden Knights have shown that they are a franchise unafraid to sacrifice their future. When you win a cup as they did, it’s worth it. When it comes to the ultimate goal of winning the Stanley Cup, no cost is too high; no price is too great.

But with injuries to William Karlsson and Shea Theodore, it’s become evident just how much of a toll those sacrifices have on the Golden Knights’ future. The pipeline isn’t very deep; in a prospect pool ranking by The Athletic, the Golden Knights were 22nd. 

Read More: 3 Ways Golden Knights Could Temporarily Replace Theodore

Of course, the Golden Knights have a shallow farm system because they won a Cup and continue to go all-in. But as the futures they traded away develop, it’s hard not to wonder what might have been.

Let’s look at some of the draft picks the Golden Knights traded away and the players they turned into.

2018 1st (30th overall): Joe Veleno

The Golden Knights traded this pick, along with a 2nd-rounder in 2019 and a 3rd-rounder in 2021, to the Detroit Red Wings at the 2018 trade deadline. In return, they received Tomáš Tatar.

This trade was an overpay before Tatar even stepped on the ice. Tatar was offensively in the middle of a down year, so even though he was signed for three more seasons at $5.3 million, his value should have been lower. To add insult to injury, he was far from a fit in Vegas. Tatar scored four goals and provided two assists in 20 regular season games. In eight postseason games, he had one goal and one assist. Before the 2018-19 season, the Golden Knights traded Tatar, 2017 1st-round draft pick Nick Suzuki, and a 2019 2nd-round pick to the Montreal Canadiens for Max Pacioretty.

Joe Veleno has struggled to make an impact at the NHL level, which helps to ease the sting of this trade. He has five goals and 10 points through 50 games this season; in 282 career games, Veleno has 74 points. Even so, he’s a defensively sound center that skates well and can provide some offense. However, Veleno was considered an off-the-board pick when the Red Wings took him 30th overall in 2018. If the Golden Knights retained this pick, they could’ve selected Mathias Samuelson or Ryan McLeod, both taken no more than ten spots after Veleno.

2022 1st (16th overall): Noah Ostlund

This draft pick was part of the most significant trade in Golden Knights team history. On November 4th, 2021, the Golden Knights traded this pick, Peyton Krebs, Alex Tuch, and a 2023 2nd-rounder to the Buffalo Sabres. In return, they received a 2023 third-round pick and Jack Eichel.

Alex Tuch has played well in Buffalo and has 219 points in 253 games with the Sabres. But Jack Eichel led the Golden Knights to a Cup, and the Sabres haven’t made the playoffs since 2011. Eichel was a great player in Buffalo, but he’s become a bona fide superstar in Vegas. In 219 games with the Golden Knights, he has 91 goals and 228 points. And he shows up when it matters most; during the Stanley Cup run, Eichel had 26 points in 22 games.

Noah Östlund hasn’t yet played an NHL game, so it’s difficult to say what kind of player he will become. He’s a great playmaker and has the potential to be a good top-six player, but the Golden Knights won a Cup with Eichel. Östlund is 20 and playing in his first AHL season with the Rochester Americans. He has nine goals and 26 points in 51 games.

2020 2nd (60th overall): Will Cuylle

The Golden Knights sent this pick, along with St. Louis’ 2nd rounder in 2021, to the Los Angeles Kings for defenseman Alec Martinez before the 2020 trade deadline. Martinez was signed through 2021 for $4 million annually.

At the time, this was seen as a bad trade. Martinez was more than a rental, but it was a steep price to trade two 2nd-rounders. But in 2021, he signed a new three-year contract to stay in Vegas. Martinez played well throughout his tenure with the Golden Knights and helped them win a cup in 2023. 

The New York Rangers acquired this pick from the Kings for Lias Andersson and used it to select Will Cuylle. Cuylle has played 140 NHL games over the last three seasons. This year, he has 14 goals and 29 points in 55 games. Cuylle is big but has soft hands and is excellent with the puck on his stick. He has a great shot and brings a physical presence to the lineup.

2021 2nd (62nd overall): Colton Dach

At the 2021 trade deadline, the Golden Knights traded away this pick in a three-team deal. Matias Janmark and Nick DeSimone went to the Golden Knights along with the Chicago Blackhawks’ 2022 5th-rounder. The Blackhawks received this pick and a 3rd-rounder in 2022 from the Golden Knights; the Golden Knights sent a 2022 5th-round pick to the San Jose Sharks.

Nick DeSimone never played a game for the Golden Knights, but it still turned out alright for them. In July of 2021, they traded him to the New York Rangers with a 2022 4th-round pick in exchange for Brett Howden. 

Colton Dach– brother of Montreal and formerly Chicago’s Kirby– is tearing it up in the AHL. He has 12 goals and 26 points in 32 games with the Rockford IceHogs this season. Dach also saw his first taste of NHL action; in 13 games with the Blackhawks, he scored a goal and provided three assists. Dach is a talented stick handler with a great shot but a below-average skater. 

2022 4th (80th overall): Elias Pettersson

This pick swapped hands several times. First, the Golden Knights acquired it from the Vancouver Canucks in 2020 for defenseman Nate Schmidt. In 2021, they flipped it to the Ottawa Senators along with Nick Holden in exchange for Evgenii Dadonov. Finally, the Senators sent the pick back to Vancouver for Travis Hamonic.

Evgenii Dadonov was a Golden Knight for just one year before he was traded to the Anaheim Ducks at the 2022 trade deadline Montreal Canadiens in June of 2022. During those 78 games, Dadonov scored 20 goals and was 5th on the team in scoring. 

Elias Pettersson has played just six NHL games for the Vancouver Canucks, but he’s been a promising AHL player. He’s quick in transition, a strong playmaker, and good with the puck. He’s solid defensively and plays very physically to support his 6’3” build. Pettersson is 21 and has a goal and 12 assists with the Abbotsford Canucks.

Other Golden Knights Draft Picks Traded

2021 2nd → DET for 2nd and 4th in 2021, became Shai Buium 
2019 2nd → MTL in Max Pacioretty deal, became Samuel Fagemo
2018 3rd → MIN for Alex Tuch, became Connor Dewar
2021 4th → TBL in pick swap, became Dylan Duke
2022 5th → TOR in pick swap, became Nikita Grebyonkin
2019 6th → MIN for 2019 5th, became Nikita Nesterenko
2019 7th → PIT for 2018 7th, became Valtteri Puustinen
2024 7th → WAS for 2025 6th, became Miroslav Šatan Jr

Golden Knights Prospects Traded

Cody Glass (2017 1st) → NSH for Nolan Patrick 
Nick Suzuki (2017 1st) → MTL in Max Pacioretty deal
Erik Brannstrom (2017 1st) → OTT in Mark Stone deal 
Peyton Krebs (2019 1st) → BUF in Eichel deal
Zachary Dean (2021 1st) → STL for Barbashev 
David Edstrom (2023 1st) → SJ in Hertl trade 

Some of these trades were good; others, not so good. But all’s well that ends well. They all contributed to the Golden Knights winning the Stanley Cup in 2023.