If the Edmonton Oilers wanted to pull off a multi-player trade, they have solid options with the Chicago Blackhawks for Donato and Murphy.

The Edmonton Oilers have been linked to Ryan Donato in trade talks with the Chicago Blackhawks. But, what if the Oilers and Hawks pulled off a much bigger deal? The Oilers don’t have any glaring holes, but they could use upgrades, and the Blackhawks have two very solid options.

Elliotte Friedman has noted that several teams are kicking tires on Donato. He offers an affordable $2 million cap hit. The Blackhawks also have Connor Murphy, a solid defenseman who could fit well in the Oilers’ playoff plans. Murphy appeared at No. 14 on Frank Seravalli’s latest Trade Targets board. He has a $4.4 million cap hit.

Mark Lazerus of The Athletic reported the team is willing to retain salary on a Donato deal. It is logical to assume the Blackhawks would be willing to do the same on Murphy. While the team can’t retain on both (they are already retaining on Mikko Rantanen and Jake McCabe), if they retain on Murphy’s deal, it would be an additional savings of $1.2 million.

Murphy has 13 points in 42 games this season. He averages 20:43 minutes a night and plays a key role in Chicago’s penalty kill, which ranks No. 7 in the NHL. That’s impressive when you consider how poorly the Blackhawks have played this season.

“He’s steady, not flashy. The one thing I really like about Murphy is that he plays a physical game and is not afraid to get in the mix. Some of that, the Oilers could definitely use,” Seravalli said when he appared on Oilersnation Everyday. Murphy is not a rental, which also provides value if the Blackhawks retain and given the upcoming salary cap increase.

What Would It Cost the Oilers to Land Donato and Murphy?

This deal would certainly cost the Oilers a first-round pick. Because they don’t have one this season, that would mean giving up their 2026 selection. From there, the Oilers would need to move some salary, unless they know for certain that Evander Kane isn’t coming back until the playoffs. Adding Murphy and Donato brings in a minimum of $4.2 million on the cap.

Would a first-rounder, a later-round pick, and a less-costly roster player get it done? When the Oilers added Adam Henrique and Sam Carrick, they gave up a first-round pick in the 2024 NHL Draft and a conditional fifth-round pick in the 2025 NHL Draft selection. They were able to get 50 percent retained on Henrique’s contract, and 50 percent of Carrick’s contract. Tampa Bay wound up being a third team in the deal, which could theoretically happen in a Blackhawks and Oilers deal if Edmonton wanted salary retained on both players.