Value of: The Gretzky Trade

[EK392000]

In light of all of the McDavid proposals, I figured it would be worthwhile to revisit the Gretzky trade to see he returned. It does not seem fair to use the benefit of hindsight here because that was not available to the Oilers when they made the trade. Also, for the people that have watched hockey in this era, it would be extremely helpful if you could provide some player comparisons for the players involved.

To LA:
C Wayne Gretzky
D Marty McSorley
C Mike Krushelnyski

To EDM:
C Jimmy Carson (Recent 2nd overall pick, already had a 100 point season at the time of the trade)
LW Martin Gelinas (Drafted by LA that summer at 7th overall)
1989 1st Round Pick
1991 1st Round Pick
1993 1st Round Pick
$15 Million in cash

Click to read more...

 

[MisterT]

Pocklington needed the cash and that was the most valuable part of the return to him.

Katz doesn’t have financial shorts so there is no correlation to this trade imo.

 

[ChaoticOrange]

The Gretzky “trade” was a sale, not an actual trade. You can’t compare it to a modern transaction because you can’t trade cash considerations anymore.

 

[Qwijibo]

Gretzky was sold more than traded. Also the economics of the league were totally diffferent. Plus the salary cap. Trying to apply lessons from that trade to the modern NHL is somewhat useless.

 

[DarthProbert]

$15 million today probably wouldn't even pay for that holiday in Palm Springs Edmonton's scouting dept just gave themselves.

 

[BenningHurtsMySoul]

Gretzky was winning, though - that was the most alarming part of the trade. There was zero reason to trade him. Edmonton probably wins a few more Cups in a row instead of just the one in 1990 if they keep him.

Pocklington was broke and needed cash flow. That's it.

 

[Fourier]

Gretzky was sold more than traded. Also the economics of the league were totally diffferent. Plus the salary cap. Trying to apply lessons from that trade to the modern NHL is somewhat useless.

It wasn't even the economics of the League so much as Pocklington's need to use the Oilers as an ATM. The Oilers were fine financially but his other businesses were a disaster.

 

[SML2]

Gretzky was winning, though - that was the most alarming part of the trade. There was zero reason to trade him. Edmonton probably wins a few more Cups in a row instead of just the one in 1990 if they keep him.

Pocklington was broke and needed cash flow. That's it.

You can't say there was no reason to trade him and then give the reason. The owner had fonancial issues bigger than the oilers. What he had to pay down want more to him than keeping what he had. Go to any pawn shop and you will see the same basic transaction. So there was no hockey reason to trade him, but there was a reason.

 

[Moose and Squirrel]

The Gretzky “trade” was a sale, not an actual trade. You can’t compare it to a modern transaction because you can’t trade cash considerations anymore.

yes, the cash was a big part of it, but iirc, Gretzky wanted out of EDM as well.

but to the OP's point, with the McDavid trade threads, this is basically FIVE 1st's here so there IS an actual trade being made. and one of those already had a 100 pt season (to the Leafs fans, that's prolly your Marner) and another was already a rising prospect. yes, EDM gave up the best player in the deal, but it's not like they didn't get anything but cash for him

 

[BenningHurtsMySoul]

You can't say there was no reason to trade him and then give the reason. The owner had fonancial issues bigger than the oilers. What he had to pay down want more to him than keeping what he had. Go to any pawn shop and you will see the same basic transaction. So there was no hockey reason to trade him, but there was a reason.

To clarify - no hockey reason. It was financial.

 

[bernmeister]

The Gretzky “trade” was a sale, not an actual trade. You can’t compare it to a modern transaction because you can’t trade cash considerations anymore.

agree and disagree
technically correct, but may be workarounds, even if cumbersome [e.g., dumping contracts, etc.] which achieve same objective of not paying top $ even if good or salary any player if bad.
But no ?, actual cash is not allowed to be involved.

 

[DarthProbert]

The Gretzky “trade” was a sale, not an actual trade. You can’t compare it to a modern transaction because you can’t trade cash considerations anymore.

Not directly, but you can trade players with high cap hits whose bonuses have been paid and thus have very little money owed compared to their cap hit.

 

[SI90]

Such a horrible trade. Was about money. Gretzky went on to have almost 1,000 pts for the Kings in just 8 seasons lol


McDavid won’t be going for a package that weak.

 

[McShogun99]

If a player like Mcdavid got traded in today’s NHL it would probably involve close to equal money going back and a bunch of picks/prospects.

 

[Qwijibo]

Gretzky was winning, though - that was the most alarming part of the trade. There was zero reason to trade him. Edmonton probably wins a few more Cups in a row instead of just the one in 1990 if they keep him.

Pocklington was broke and needed cash flow. That's it.

I was more referring to the fact that the players made substantially less back then. Either way the Gretzky trade can’t be applied to todays nhl

 

[Qwijibo]

yes, the cash was a big part of it, but iirc, Gretzky wanted out of EDM as well.

but to the OP's point, with the McDavid trade threads, this is basically FIVE 1st's here so there IS an actual trade being made. and one of those already had a 100 pt season (to the Leafs fans, that's prolly your Marner) and another was already a rising prospect. yes, EDM gave up the best player in the deal, but it's not like they didn't get anything but cash for him

This is the first I’ve heard of Gretzky wanting out of Edmonton. Dude cried like a bs y at the press conference

 

[Moose and Squirrel]

This is the first I’ve heard of Gretzky wanting out of Edmonton. Dude cried like a bs y at the press conference

watched a tv program/special on it, and he wanted out, then started having second thoughts, but when asked by the Oil owner if he wanted to stay he said he wanted to go ahead and go thru with it

 

[WhalerTurnedBruin55]

You can't say there was no reason to trade him and then give the reason. The owner had fonancial issues bigger than the oilers. What he had to pay down want more to him than keeping what he had. Go to any pawn shop and you will see the same basic transaction. So there was no hockey reason to trade him, but there was a reason.

I wasn't the original post, but you can say there were zero hockey reasons to trade him.

All the reasons were $$$, non related to the on ice product.

 

[ChaoticOrange]

Basically if you’re looking for comparables

- a young top 10 forward
- a recent top 10 pick
Three firsts
Probably another first or a blue chip prospect to fill in for the cash considerations

hard to draw a straight line, but

Rantanen
Newhook
Byram
‘22 1st
‘24 1st
‘26 1st

just for example is probably pretty close for a modern comparable

 

[Gaylord Q Tinkledink]

That trade is an automatic loss for the Oilers if they ever deal McDavid unless he all of a sudden forgets how to play hockey.

Top end talent you never get a fair return

 

[Frankenheimer]

Just trade anything and everyone, no limit. Then rebuild for a few years with Connor as the center piece. Since the NHL system replenishes team coffers yearly, better to have the generational talent. Trading Mcdavid would be dumber than trading Gretzky in today’s NHL, no matter the return.

 

[tkb81]

The Gretzky “trade” was a sale, not an actual trade. You can’t compare it to a modern transaction because you can’t trade cash considerations anymore.

cap space is the new cash

 

[AnInjuredJasonZucker]

cap space is the new cash

I can't get behind that comparison. Cap space is still a hockey ops asset. Cash, in this instance, was just to cover unrelated debt.

 

[BLNY]

Pocklington needed the cash and that was the most valuable part of the return to him.

Katz doesn’t have financial shorts so there is no correlation to this trade imo.

Not to mention that $15 million is now more than $35 million.

 

[YotesFan47]

Basically if you’re looking for comparables

- a young top 10 forward
- a recent top 10 pick
Three firsts
Probably another first or a blue chip prospect to fill in for the cash considerations

hard to draw a straight line, but

Rantanen
Newhook
Byram
‘22 1st
‘24 1st
‘26 1st

just for example is probably pretty close for a modern comparable

Depending on how someone feels about Nashville's prospects, I think they could make a pretty serious offer.

Johansen
Jeannot
Svechkov
Askarov
Prokop
Evangelista
'22 1st
'23 1st

That's an absolute haul and keeps Edmonton competitive. Edmonton just delays the cup run ~2 years but should have a much deeper team for it.

Nashville gets the best center in the world and has the depth and cap to make themselves a cup favorite.