Has the NHL trade deadline come early?

Leafs fans were rejoicing as Brian Burke unloaded some serious dead weight in return for Dion Phaneuf and JS Gigeure. The Calgary Flames dealt with the Toronto Maple Leafs and also pulled off a blockbuster deal with the New York Rangers which included Olli Jokinen and Chris Higgins.

Now, NHL sources are reporting Ilya Kovalchuk is only minutes, hours, or at most days from being traded by the Atlanta Thrashers.

So what gives? Has the NHL trade deadline come early? Why aren't NHL teams waiting until the end of the month to start making deals?

First, there are only 5 points separating 13th and 6th place in the Eastern Conference. The playoff race in the West is just as tight. With an Olympic break thrown into the mix and the first major deals already done, it's time for teams to start making their move if they want to stay in the playoff mix.

Teams in the hunt for a playoff rental player, or a long term salary fix, must move now that teams are dealing, because once a team has made a major deal, the options for others start to diminish.

The Olympic break has to be factored into this early dealing as well. The Atlanta Thrashers have no guarantee that Ilya Kovalchuk won't be injured playing major minutes for Team Russia at the Vancouver 2010 Olympic Games and therefore, want to deal him before the Games. Many of the leagues top stars who are approaching free agency or who have struggled this season are on the block and could potentially be dealt before the Olympics begin.

The potential for injury, and the fact that the playoff race is happening now, not two months from now, is extremely hard to deny for teams needing help. Watch for trades in the next 24 hours including Ilya Kovalchuk, Michael Ryder, and yes, more from the Toronto Maple Leafs. As well, watch for a major unload from the Edmonton Oilers and Carolina Hurricanes.

Let the games begin.

Follow Instant Replay on Twitter