Cap & Crease
Est. 2026 — Vol. I — Data Feed Active
PUBLIC RECORD · THE DOCKET
TRADE RULINGS
Loading published trade rulings and current grades
Cap & Crease
Est. 2026 — Vol. I — Data Feed Active
← THE DOCKET
TRADE BREAKDOWN · COMPLETED 2026-06-30
NJD / FLA
NJD +33.0 AS SAVED (the model's value read, after package counting). The model's feasibility audit disagreed with the trade: Florida Panthers rejects massive underpayment. SOURCE · tsn.ca
CONDITIONS · Trade also includes Ben Steeves -> NJD
NJD model grade A+
Value net +33.0 NAV, 62% of the larger package, ahead.
FLA model grade F
Value net -33.0 NAV, 62% of the larger package, behind.
A grade is the model's value read at the time, as a letter: how far apart the two packages were after package counting, as a share of the larger one. Trades the headline calls fair are a B for both clubs. It leaves out cap, lineup holes, fit, the contention window and injuries, which are listed separately below, and a club can take a lower grade for need. It's not a prediction of who wins the trade; the value model ordered real trades only modestly better than chance.
THE SCALE · v1
- A+: ahead by 28% or more
- A: ahead by 20% or more
- A-: ahead by 15% or more
- B+: ahead by 10% or more
- B: inside the fair band (within 10% or 10 NAV)
- B-: behind by 10% or more
- C+: behind by 15% or more
- C: behind by 20% or more
- C-: behind by 28% or more
- D+: behind by 36% or more
- D: behind by 44% or more
- D-: behind by 52% or more
- F: behind by 60% or more
The before-and-after snapshot was not recorded for this trade: it was saved before that existed. The package, margin and grading details below are as saved.
HOW THE MARGIN IS BUILT · NJD gets 76 raw from FLA and sends 23 raw: +53.0. Package counting -20.0 (best player in full, each further player counts for less, negative players count as zero). Margin +33.0.
PER-ASSET COUNTING
NJD sends: 23 raw, 20 counted
Angus Crookshank: raw 20 counted in full
Jacob Markstrom: raw 3 → counted 0. Counts as zero: after roster-slot decay and the age penalty nothing is left.
FLA sends: 76 raw, 53 counted
Evan Rodrigues: raw 53 counted in full
Jesper Boqvist: raw 23 → counted 0. Counts as zero: after roster-slot decay and the age penalty nothing is left.
HOW IT WAS GRADED · AS SAVED · Saved before grading dates were recorded, so the day it was graded, the model version and the data dates are not known. This cannot be called a grade struck at the time of the trade.
WHAT THE MODEL FLAGGED
- Florida Panthers rejects massive underpayment. You are asking Florida Panthers to give up 76 NAV while only offering 23 NAV in return. The offer needs significantly more value to be taken seriously.
- Florida Panthers is significantly overpaying. The NAV analysis shows Florida Panthers giving up 76 NAV points worth of assets and receiving only 23 — a 43% gap.