The Predators Need To Pick A Direction

The Nashville Predators have never truly done a tear-it-down-to-the-studs rebuild in their short history, yet it’s been rare for them to miss the playoffs. This recent two year absence from the postseason has been difficult for the Predators, especially after their free-agent haul in the summer of 2024. At that time, it looked like they were on their way to a solid retool, only to be a massive disappointment on the ice during the 2024-25 season. One of the players they signed to a massive contract was forward Steven Stamkos, who is now entering the third year of a four-year, $32MM contract. He was terrific for the team last year, putting them in a position to trade him (if he agrees to a move) or keep him and try to retool this summer to compete for a playoff spot next year. This crossroads isn’t unique to Stamkos; the Predators have a number of veterans in similar spots, along with some young players hoping to make a name for themselves sooner rather than later.

It’s hard to gauge whether Stamkos would welcome a trade, as he wasn’t interested in one prior to the trade deadline. But if he were put on the market, there would be suitors, particularly after he had 42 goals and 24 assists in 82 games last year. Stamkos doesn’t sound like a player who expects to be moved, and he also doesn’t sound like he expects Nashville to rebuild, which would mean another summer of aggressively trying to improve the NHL roster. The reality is that Stamkos doesn’t know 100% what the direction will be, as Nashville doesn’t have a general manager at the moment, and there won’t be any earth-shattering moves until that is in place.

A couple of interesting tidbits about Stamkos and his contract situation. The 36-year-old holds a full no-move clause, which means he controls his fate and could remain in Nashville if he prefers. The other note is that Stamkos is owed a $2MM signing bonus next year (reportedly in July), meaning that after that payment is made, he is owed just $11.75MM in actual cash for the final two seasons of the deal while carrying an $8MM cap hit. That information won’t sway any of the teams in the upper echelon of league revenue, but for a team like the Carolina Hurricanes, which watches the dollars in and out carefully, it will be quite intriguing to owe fewer actual cash to a potential top-six player.

Moving on from Stamkos, Ryan O’Reilly is another veteran center who could be traded, as he has just one year left on his deal at a bargain rate of $4.5MM. At 35 years of age, O’Reilly just finished one of the finest offensive seasons of his career, tallying 25 goals and 49 assists in 81 games while continuing his usual responsible defensive play. Like Stamkos, O’Reilly was a name thrown around before the NHL Trade Deadline, but he ultimately remained with the Predators through the end of the season. If Nashville were to make O’Reilly available, the asking price would be very high, as he remains a top-six center, and his cap hit is extraordinarily low for a player of his calibre. O’Reilly doesn’t technically have a no-movement clause but given the respect the Predators have for the veteran, one would have to believe they would involve him in the process.

If the Predators elect to move Stamkos and O’Reilly, it would be clear they’re embarking on a rebuild, and it would make sense to explore moves involving forwards Filip Forsberg and Jonathan Marchessault, defenders Brady Skjei and Roman Josi, and goaltender Juuse Saros. All of those veterans are on pricey contracts with multiple years left on their deals and are on the wrong side of 30. They effectively represent Nashville’s current core, and without Stamkos and O’Reilly, they are simply not good enough to even make the playoffs, let alone win a round or two. Moving Stamkos and/or O’Reilly would be the first step to signal a rebuild in Nashville.

But while moving one or two players, such as Stamkos and O’Reilly, makes sense in a vacuum (for the right price), it doesn’t make sense to move them and call it a summer. Nashville has to decide which direction to go. Is it a good opportunity to add veteran talent this summer, or is it time to tear things down and rebuild?

The decision will rest with the new general manager, but there are a few significant factors beyond the current roster. For one, Nashville currently has one of the five best farm systems in the entire NHL (according to Scott Wheeler of The Athletic), and if they choose to add to their lineup, they will lose some of those pieces. However, if they move out some veterans, it will only add to their growing cupboard of future talent.

Another factor is the division the Predators play in. You can make a strong case that the Central Division was the toughest in hockey this year, and it doesn’t look like it’s getting any easier anytime soon. If the Predators want to make a run at the playoffs next year, they will have to compete with Dallas, Colorado, Minnesota, Winnipeg, Utah, and a Chicago team that will be aggressive this summer. No easy task, but it does make one wonder whether the time to aggressively add to the roster is now or later.

Finally, we have the situation around the NHL: teams have an overwhelming amount of cap space to throw around this summer, but very little talent to spend it on. The free agent pool is about as thin as it’s ever been, and teams are going to be forced to make trades to get better. Enter Nashville, which could essentially name its price on some of its players, inflating the potential trade returns. It’s a good time to be a seller, and Nashville would be one of the few true sellers if it elects to go down that road.