The St. Louis Blues have designated winger Mathieu Joseph as a non-roster player, placing him on waivers this afternoon after unsuccessful attempts to find a trade partner, according to David Pagnotta of The Fourth Period. Joseph’s roster spot will now be filled by winger Dylan Holloway, who is returning from injured reserve for tonight’s game against the Seattle Kraken as anticipated.
Background on Joseph’s Contract and Performance Decline
At 29 years old, Mathieu Joseph is in the final year of a four-year, $11.8 million contract he signed with the Ottawa Senators as a restricted free agent in 2022. Initially, the deal appeared to be a low-risk investment, following Joseph’s promising performance where he scored 12 points in 11 games with the Senators after being acquired from the Tampa Bay Lightning in a trade involving Nick Paul the previous season. During that period, he accumulated 30 points across 69 games between the two teams.
Despite his early promise, Joseph’s production has since dropped sharply. Standing 6-foot-1 and playing left wing, he recorded just three goals in his first contract year. His second season included a brief resurgence, with a career-high 24 assists and 35 points in 72 games, largely due to an unexpected promotion to Ottawa’s top-six forward group amid numerous team injuries rather than a sustained performance increase.
Joseph’s Struggles Since Joining the Blues
The Senators traded Joseph to the Blues last summer in a move primarily motivated by salary cap concerns. Over nearly two full seasons in St. Louis, Joseph’s output has been limited to six goals and 15 points in 99 games, mostly playing on the third or fourth lines. This season, he has contributed two goals and 11 points in 39 games but has often been a healthy scratch and missed time in January due to an elbow infection.
Trade Interest Limited by Contract Size and Performance
Any potential interest in acquiring Joseph has been muted by his $2.95 million cap hit. With the trade deadline approaching, teams are unlikely to allocate significant salary cap space to a forward who projects as a reclamation project rather than a core contributor. St. Louis may have to retain part of his salary to facilitate a trade or wait for him to clear waivers so that a new team can assign him to the minors without risking losing him on waivers again. This move would reduce the immediate cap impact for any acquiring team.
Joseph’s Role and Offensive Challenges
Teams considering Joseph are likely seeking speed and physicality to enhance their fourth-line depth rather than offensive production. His ability to contribute in the top-nine forward group has been limited by his low shooting efficiency; since 2022, Joseph has converted only 6.9% of his shots, failing to reach a 10% shooting percentage in any season during this contract. This reflects his ongoing struggles as a finisher despite being utilized in various roles.
Dylan Holloway’s Return Offers Hope for Blues
Meanwhile, Dylan Holloway’s activation from injured reserve provides a much-anticipated boost to the Blues roster. Holloway, 24, has faced repeated setbacks this season, initially suffering an ankle injury in mid-December that sidelined him for a month. His brief return lasted just one game before lingering pain forced him back onto IR. Benefiting from the Olympic break and over a month of recovery, he is expected to be much closer to full health for the remainder of the campaign.
Holloway is looking to rebound strongly after a difficult first half of the season, in which he managed eight goals and 17 points in 34 games. His earlier breakout season set higher expectations, and this return could be critical for improving his performance and contract prospects as he approaches a crucial contract year.
Implications for the Blues and Next Steps
The waiver placement of Mathieu Joseph highlights the Blues’ challenges in managing roster depth and salary cap constraints as they push toward the trade deadline. While Joseph’s future with St. Louis appears uncertain given his diminished offensive output and sizeable contract, his availability may appeal to teams in need of depth on their bottom lines. Meanwhile, Holloway’s return could inject needed energy and skill to the Blues as they attempt to salvage their season.
The Blues will likely continue to assess Joseph’s trade possibilities and waiver status over the coming days, with roster adjustments influenced by team performance and health updates. For now, the waiver placement marks a clear shift in the organization’s lineup strategy heading into the critical stretch of the season.
The #stlblues have been trying to trade Mathieu Joseph, but haven’t found a deal yet. He’s expected to go on waivers today. If he clears, the hope remains to move him by the deadline.
— David Pagnotta (@TheFourthPeriod) February 26, 2026
