VANCOUVER, British Columbia – Last season, it seemed like everything that could go right for the Vancouver Canucks did.
Well, right up until the Game 7 defeat to the Edmonton Oilers in the second round.
Conversely, this season, everything is going wrong.
Injuries. Struggles on the ice. Struggles off of the ice. It’s all led to the club trying to trade one of their top two centres. With Elias Pettersson’s age and upside working in his favour, it’s J.T. Miller who appears set to be moved – even with the power centre producing at an elite clip over the past three-plus seasons.
Miller, who signed a seven-year extension in September 2022 has five years remaining on his contract after this season. It counts as $8 million against the cap and he has a full No-Movement Clause baked-in. He'll turn 32 later this season but has provided more than enough value so far in the deal.
Those figures make an in-season deal difficult, however. But so does the growing reputation that he can wear out his welcome in a dressing room. It was reported he did so in New York before being traded in 2018, and it appears it’s happened again in Vancouver.
The rumours and speculation have been running rampant for weeks. The New York Rangers have been tagged as the front-runner with names such as Alexis Lafrenière, and Braden Schneider at the forefront of social media speculation. A reported deal was close enough over the weekend that Miller was told he would sit out Saturday night's contest against the Oilers, before a deal fell apart at the finish line.
There's some smoke out there that the Devils are really kicking the tires on JT Miller.
— Cam Robinson (@Hockey_Robinson) January 17, 2025
The Dallas Stars, New Jersey Devils, Carolina Hurricanes, and Utah Hockey Club have all been linked to the trade talks.
But what exactly is Miller’s trade value?
I decided to ask around the league – General Managers, Assistant GMs, scouts, and agents (all from organizations that would unlikely be involved in such a deal) to try and get a gauge on his value. The responses varied. But one thing was certain, no one wants to be in Vancouver’s position where the rest of the league knows they need to make a change and will try and leverage that fact.
EXECUTIVE 1 - “This is an extremely difficult move to make during the season. Where does the player want to end up? Is the team retaining any salary? You have to think they (Vancouver) want to have at least one NHL player come back to fill the spot.”
"I'd wait if I could."
EXECUTIVE 2 - “I think a roster player plus a 1st or 2nd and maybe another piece. Unless it’s another elite player coming back.”
AGENT 1 - “That’s a broad question... 1st round pick and a player. All depends on the player coming back.”
AGENT 2 - “I don’t think it’s nearly as much as Vancouver would like. His age and contract aren’t helping, but the situation in the room has become such a big story. It’s killed any leverage the Canucks could have had. If they can get a couple of decent roster players and a pick or prospect that would probably be enough.
They need the fresh start in that room and maybe it saves them some money to be spent later.”
SCOUT 1 - "Most contending teams would love to add a player like Miller. But you have to ask yourself if the juice is worth the squeeze. Unless a bidding war happens, I'd expect the return to be much less than people think."
EXECUTIVE 3 - “I’ll say this, if we were involved, we wouldn’t be putting our best assets on the table. A younger NHL centre and a pick maybe. They probably want an impact centre or defenseman back but that will be hard to come by.”
EXECUTIVE 4 - He’s a good player. And he could really help a team that thinks they can win in the next couple of years. But the Canucks are up against it. They’re operating from a position of weakness. That and the NMC drops his value. Probably a mid-level positional player, a 1st and a prospect.”
AGENT 3 - A lot of potential moving parts here. The No-move is an issue as he (Miller) can choose his own fate to some degree. I think there could be a team that would move a young player with an elite upside if the fit was good enough."
There are a wide variety of potential returns for a Miller, but the commonality between all of these sources is that the value of the player is reduced by the circumstances of the situation. Had the Canucks been able to keep the dressing room drama under wraps, or made a move sooner, they may have been able to ask for more.
At the same time, this is remains a highly-impactful player who has proven capable of stepping up in the post season. All it takes is one team to decide he's the missing link and open up the offer to greater satisfy Canucks management.
But the clock is ticking. Every day that Miller remains on the roster with one-foot out the door will amplify the dressing room divide and push the team further away from a playoff spot.