Free agency is now less than a week away and teams are looking ahead to when it opens. There will be several impact players set to hit the open market in July while many teams have key restricted free agents to re-sign as well. We continue our look around the NHL with an overview of the free agent situation for the Avalanche.
Key Unrestricted Free Agents
F Jonathan Drouin – One summer ago, the Avalanche brought Drouin into the fold on a low-risk one-year, $825K contract. Paired with Nathan MacKinnon for the first time since their time with the Halifax Mooseheads, Drouin would be among the highest-value signings of the previous offseason. Over 79 regular season games, Drouin scored 19 goals and 37 assists in Colorado, with the latter statistic marking a career-high. As much as there is a mutual interest between Drouin and the Avalanche on a contract extension, the organization will have to be very frugal this summer based on the pending status of Gabriel Landeskog and Valeri Nichushkin. Although he has more than earned a raise upon his previous salary, Drouin will still need to take 
a fairly hefty discount to remain in Denver.
D Sean Walker – Acquired to offset the departure of Bowen Byram during a busy trade deadline for the Avalanche, Walker will likely depart this summer. Walker was acquired by the Philadelphia Flyers last summer as a salary dump before finally making his way to Colorado for a top-10 protected first-round pick and the contract of Ryan Johansen. Walker logged heavy minutes during his time with the Flyers and rewarded the team with six goals and 22 points in 63 games. His average ice time dipped nearly two minutes after the trade to the Avalanche but he still managed four goals and seven points in the remaining 18 games of the regular season. Regardless of going scoreless through 11 games in the 2024 Stanley Cup playoffs; Walker should command $4-5MM per year on a multi-year contract agreement on the open market.
F Brandon Duhaime – A part of a rare intra-division trade during the trade deadline, Duhaime was brought in to serve as a bruiser in Colorado’s bottom six. Not much of a weapon in the points department — Duhaime has averaged 2.63 hits a game since making his debut with the Minnesota Wild during the 2021-22 NHL season. Unlike most of the other trade deadline acquisitions made by the Avalanche, Duhaime’s price tag wouldn’t necessarily prohibit him from staying in Denver. The team already has Josh Manson, Miles Wood, and Ross Colton as reliable physical options; but contending teams will always be looking for more physicality come springtime.
F Yakov Trenin – Similarly to Duhaime, Trenin was brought in via an intra-division trade with the Nashville Predators at the trade deadline as a physical presence. However, Trenin has been known to score much more than Duhaime evidenced by his 41 goals since the start of the 2021-22 NHL season. Trenin saw his role reduced considerably with the Avalanche, and may want to join a team where he can once again average 15 minutes of ice time per game. Colorado should have the financial flexibility to retain Trenin if they desire, but he will likely move on for a better opportunity this summer.
Other UFAs: F Joel Kiviranta, D Jack Johnson, D Caleb Jones, F Fredrik Olofsson, F Spencer Smallman, F Riley Tufte, D Brad Hunt, D Corey Schueneman, G Ivan Prosvetov
Projected Cap Space
This is where matters become incredibly complicated for the Avalanche. Going into the summer, the team will largely have to assume Landeskog and Nichushkin will return at some point during the 2024-25 NHL season, which would tack on another $13.125 million to the salary cap. Even though Colorado has just under $10.5MM available in cap space, the contract for Nichushkin alone would bring that value down to $4.34MM if he eventually returns.
Much like last offseason, the Avalanche will have to nibble around the fringes of the free agent market with the hope of landing some high-value contracts similar to Drouin. However, this approach does leave considerable room for danger. If Landeskog and Nichushkin do not return at any point next season, the Avalanche will have a bevy of unused cap space. As a team primed for Stanley Cup contention, this is a reality that Colorado can not allow to happen.
Photos courtesy of USA Today Sports Images. Cap information courtesy of CapFriendly.