Rangers receive: Will Borgen, a 2025 third-round pick and a 2025 sixth-round pick

Getting Octopuses: Kaapo Kakko

#NYR acquired defenseman Will Borgen, a 2025 third-round pick and a 2025 sixth-round pick, in exchange for Kaapo Kakko. pic.twitter.com/4OTAZWuFBs

– New York Rangers (@NYRangers) December 19, 2024

Harman Dayal: Kaapo Kakko’s days with the Rangers appeared to be numbered after he publicly expressed his frustration at being a healthy scratch. The Kraken quickly spoke up and took a smart risk here. Kakko won’t develop into the offensive player the industry expected when he was drafted No. 2 in 2019, but he has a high level as a young, serviceable winger in the top 9.

Kakko is defensively responsible, excellent at retrieving pucks and winning battles along the walls. At the start of the season, he provided a strong addition to the Rangers’ third line alongside Filip Chytil and Will Cuylle. This trio controlled 61 percent of expected goals and outscored opponents 13-2 in nearly 200 five-on-five minutes. Kakko is two seasons removed from 18 goals and 40 points and has scored about half a point per game this season, which is a solid rate considering almost all of the output is evenly distributed.

How much potential does Kakko have to break out with a fresh start? He hasn’t shown much offensive creativity or playmaking ability, plus this is his sixth NHL season, so I wouldn’t hold my breath that a major offensive leap is coming. I’m not convinced he’s dynamic enough offensively to be a top-six driver. But he has the tools and experience to excel as a complementary midfielder who can add real value in both directions.

The key for Seattle is that it hasn’t given up much. Will Borgen would likely leave in free agency since the Kraken have Adam Larsson and Brandon Montour locked up long-term. Borgen probably would have had a modest futures-based return as a deadline trade – general manager Ron Francis was wise to turn his impending UFA trade chip (plus a few picks) into a young middle-six winger instead.

I don’t think New York has enough for Kakko, but Borgen has a legitimate chance to succeed with the Rangers. The 27-year-old right-back has been a stable, underrated player since arriving in Seattle. He posted solid, if unspectacular, results alongside Jamie Oleksiak on the Kraken’s second pair over the last two seasons, but was relegated to the bottom pair this season due to Montour’s arrival on the right side. His results haven’t been great this year, but his long track record in Seattle suggests he’s quite a useful player.

Tall (6-foot-3), competitive and physical, Borgen ranks in the top 50 of all NHL defensemen in scoring this season. He will restore and upset New York some of the grit it lost with the departure of Jacob Trouba. Borgen is also mobile and skilled enough that he won’t be a real liability when breaking out with the puck. The Rangers desperately needed to improve their defensive depth and Borgen will undoubtedly give them a boost. He’s best suited to a third-pair role, but his experience in the top four gives New York valuable flexibility to move him up the lineup in the event of injuries.

It’s also worth noting that there is a shortage of available defensemen on the trade market and a surplus of teams looking for help on the blue line. So while Borgen appears to be a disappointing centerpiece for Kakko, finding competent right-backs must be difficult to take into account.

Rangers grade: C+

Kraken class: A-

Shayna Goldman: The Rangers have lost 11 of their last 14 games. And along the way, they lost twice to the NHL’s 32nd-ranked team – first last week to the Blackhawks and on Tuesday night it was the newly minted 32nd-ranked Predators. So it’s not entirely surprising that management felt the need to do something to shake up the team.

Kakko never did his best in New York. He showed potential – from his ability to protect the puck and maintain possession to give his teammates time and space to his defensive development – but didn’t perform consistently enough. He never became the driver of his own line, but instead was a pretty solid facilitator in the middle-six line. But on the other hand, the Rangers didn’t maximize his strengths or encourage his development. Perhaps the team considered him expendable because they have other wingers like Gabe Perreault and Brennan Othmann in the pipeline. On the other hand, the team in the development department hasn’t made a lot of effort over the years to inspire much confidence in the future.

For Seattle, Kakko is the type of redevelopment project it should aim for. Best-case scenario, Kakko becomes a more reliable top-six scorer, which is exactly what the Kraken roster needs. In the worst case, a 23-year-old third party is used who doesn’t really rise above this level. And there’s a chance that could happen, because the Kraken isn’t rife with stars who can elevate its game even further. Still, such bets have worked for them before — just look at how Eeli Tolvanen’s career changed after Seattle claimed him off waivers. This is obviously a slightly lower risk play since they had to give up players and picks to add Kakko, but perhaps there will be an even higher reward.

The Kraken have accumulated a lot of draft capital over the years, so they can afford to send a third-rounder and a sixth-rounder to New York. These picks are valuable to the Rangers whether they use them to fill their pipeline or make further trades.

Borgen’s value fell this year after Montour’s arrival promoted him to the third pair. That made him a little more expandable and the Rangers could use the help on defense. Trouba hasn’t been adequately replaced, K’Andre Miller is out, and the rest of the team is simply underperforming.

Borgen showed last year alongside Oleksiak that he has what it takes to be a solid shutdown defender. But he’s taken a step back this season – perhaps Oleksiak has stepped up his game so much and he’s struggled without him, or perhaps the rotating cast of partners has held him back.

The Rangers need someone who can help limit the damage in their own zone, retrieve pucks and get the game back up the ice. Borgen could be up to the task, and his mobility could fit into Peter Laviolette’s system. The Rangers may have responded to a need, but they paid too much for it. An addition will not stabilize this team or even this blue line.

Rangers grade: C

Kraken class: B+

(Photo: Codie McLachlan/Getty Images)