How should Golden Knights approach deadline?

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A year ago, the Vegas Golden Knights were taking the NHL by storm and shocking the hockey world. Not only did they make the playoffs, they also finished at the top of the Pacific Division by picking up 109 points in 82 contests. General manager George McPhee was incredibly aggressive at the trade deadline. His main acquisition didn’t pan out, but the team still found a way to get to the Stanley Cup Final.

At this time last year, it became clear that Vegas was pushing hard to land Erik Karlsson from the Ottawa Senators. Right up until the deadline, they felt like they had a chance to get him. Unfortunately for McPhee, that didn’t work out. So instead, he decided to give up a first-rounder in 2018, a second-rounder in 2019 and a third-rounder in 2021 for Tomas Tatar.

Tatar, who is a capable top-six winger, just never fit in with the Golden Knights. It was the first time he had been traded in his career and he just couldn’t find a way to fit in to their magical run. The 28-year-old even served as a healthy scratch on more than once.

So, they decided to ship him to Montreal as part of a trade for Max Pacioretty. In that deal, they also gave up another second-round draft pick and prized prospect Nick Suzuki.

Should McPhee be as aggressive this year as he was in 2018?

The odds of Vegas going on another magical run are slim. Yes, they’re currently sitting in third place in the Pacific, but the magic that was around the team last year doesn’t appear to be there. As we mentioned, they already made a splash in training camp by landing Pacioretty from the Canadiens. Do they really have to make another one?

Thanks to the expansion draft, the Golden Knights were able to acquire multiple first-round picks and some young players. But Tatar and Pacioretty cost them several assets.

McPhee has some quality youth in the pipeline, but it’s important to keep in mind that he was forced to build the pipeline from scratch just two years ago. It might not seem obvious right now, but that pipeline still needs building. The Golden Knights have all of their own picks in the first five rounds and they also have two more in the third round and two more in the fifth round. So in all, they have nine picks in the first five rounds. They also have three more second-round picks in 2020.

When you have that many picks, you can afford to let one or two go, but holding on to their early picks should be a priority. Trading away a first, second and third in a package should be out of the question. Making a depth move makes a lot more sense.

As we saw last week, the market dictates that a player like Brian Boyle is worth a late second-rounder. Boyle is a useful player, but he’s not an impact player. He’s a solid addition for a team hoping to go on a run.

With his team struggling (they’ve lost three games in a row and they have just three victories in their last 10 games), McPhee should look at adding depth to his roster by sending a middle-round pick to a team selling off veteran rentals. He can’t sit there and do nothing, but he shouldn’t feel the need to trade away more key assets. Eventually, they’ll pay the price if they keep doing that.

So trading for guys like Matt Duchene, Mark Stone, Artemi Panarin and Wayne Simmonds should be out of the question. It would be nice to get one of those high-end rentals, but it’s probably not wise in the long run.

MORE: Gallant blasts Golden Knights for ‘soft’ play

Joey Alfieri is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @joeyalfieri.