Yeah if they rule it's already lost the protection it has a very different value than if it is still contingent on the 2027 lottery. Cynically I would say the league might wait. My first thought is I don't really see how there could be any other interpretation than it being unprotected and the Flyers' pick. But I guess the legalese would be that Toronto has not actually traded its 2028 pick yet, and won't officially do so until next year, so the protection can't actually be removed until that happens.
Philadelphia trades Scott Laughton, Philadelphia’s 4th rnd pick in 2025 NHL Draft and Philadelphia’s 6th rnd pick in 2027 NHL Draft to Toronto in exchange for Nikita Grebenkin and Toronto’s 1st rnd pick in 2027 NHL Draft. If Toronto’s 1st rnd pick in 2027 NHL Draft is in Top 10, then Toronto has the option to retain such pick and instead transfer their 1st rnd pick in 2028 NHL Draft to Philadelphia. If Toronto trades their own 2028 1st rnd pick (in a subsequent trade) prior to the 2027 NHL Draft, then the condition on 2027 pick is removed and Toronto’s own 2027 1st rnd pick shall transfer to Philadelphia. Philadelphia agrees to retain 50% of Laughton’s SPC as part of a Retained Salary Transaction (03/07/25)
Toronto trades Fraser Minten, Philadelphia’s 4th rnd pick in 2025 NHL Draft (previously acquired by Toronto) and Toronto’s 1st rnd pick in 2026 NHL Draft (conditional) to Boston in exchange for Brandon Carlo. In the event Toronto transfers their 1st rnd pick in 2026 NHL Draft to Chicago (pursuant to an earlier trade) or Toronto’s 1st rnd pick in 2026 NHL Draft is a top 5 pick, then Toronto will instead transfer their own 1st rnd pick in either the 2027 or 2028 NHL Draft to Boston (whichever of those picks is not transferred to Philadelphia pursuant to an earlier trade). Boston agrees to retain 15% of Carlo’s SPC as part of a Retained Salary Transaction