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Salary Cap Deep Dive: Philadelphia Flyers

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Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those who don’t often see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation for the 2025-26 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Metropolitan Division, next up are the Flyers.

Philadelphia Flyers

Current Cap Hit: $95,129,762 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Alex Bump (three years, $950K)
F Nikita Grebenkin (one year, $875K)
F Jett Luchanko (three years, $942.5K)
F Matvei Michkov (two years, $950K)

Potential Bonuses
Luchanko: $400K
Michkov: $3.3MM
Total: $3.7MM

Michkov was able to come to North America two years earlier than expected and didn’t disappoint.  While there were some ups and downs, that’s to be expected from a rookie while his 63 points led all rookie forwards (though he finished fourth in Calder Trophy voting).  Michkov appears to be well on his way to becoming the type of franchise winger Philadelphia hoped he’d be when they drafted him in 2023 and if he lives up to the hype, a long-term contract could run the Flyers upwards of $9MM.  He maxed out on his four ‘A’ bonuses worth $250K apiece last season and as long as he stays healthy, he should be able to do so again this season.  The rest of the bonuses are ‘B’ ones and those are unlikely to be reached.

Luchanko surprised many by making the roster out of training camp last season and with at least one forward spot likely up for grabs this time around, he could be in the mix again this year although that nine-game threshold will loom large.  That won’t apply for Bump and Grebenkin who should also be in the mix.  Luchanko (technically) and Bump haven’t started their contracts yet so it’d be foolhardy to project their next ones while Grebenkin is likely heading for a bridge deal.  A one-way pact that keeps the cap hit a little lower – somewhere a little above what he’s making now – would make sense.

Signed Through 2025-26, Non-Entry-Level

F Rodrigo Abols ($800K, UFA)
F Bobby Brink ($1.5MM, RFA)
F Nicolas Deslauriers ($1.75MM, UFA)
D Jamie Drysdale ($2.3MM, RFA)
F Christian Dvorak ($5.4MM, UFA)
G Samuel Ersson ($1.45MM, RFA)
G Ivan Fedotov ($3.275MM, UFA)
D Dennis Gilbert ($775K, UFA)
D Noah Juulsen ($900K, UFA)
D Egor Zamula ($1.55MM, RFA)
F Trevor Zegras ($5.75MM, RFA)

The Ducks decided to pull the plug on Zegras, allowing Philadelphia to step in with an offer that many would qualify as underwhelming but it was enough to get him.  He is coming off another injury-riddled season while producing at a 46-point pace, well below the two seasons of 60-plus points he has under his belt from earlier in his career.  That, coupled with a high-priced bridge deal, hurt his value.  Owed $5.75MM for a qualifying offer with arbitration rights, another season like his last two will make him a non-tender candidate or a club-elected arbitration candidate where they could offer a 15% cut in pay.  Dvorak comes over from Montreal in one of the bigger overpayments of the summer for a player who has yet to reach 40 points in his career.  However, getting him just on a one-year deal as a bridge veteran required the overpayment.  If he can play at a similar level as last season, a multi-year pact in the $4MM range shouldn’t be out of reach if he opts not to do another above-market one-year agreement.

Deslauriers played quite sparingly last season and when he was in the lineup, playing time was rather hard to come by.  He was an every-game player when he first joined Philadelphia but that’s no longer the case.  Enforcers can still generate some open-market interest but he should check in closer to the minimum salary next summer.  Year one of Brink’s bridge deal went quite nicely as he upped his production to 41 points.  Assuming he stays around that number, he’ll have a chance at doubling his current price tag with arbitration rights.  Abols got his first taste of NHL action last season and the Flyers saw fit to hand him a small raise on a one-way deal, suggesting that they view him as a roster regular this year.  At 29, it’s a bit late for a breakout year but if he can grab a full-time spot and have some success, getting a seven-figure pact next summer might be achievable.

Drysdale managed to stay healthier last season compared to the previous two seasons but staying in the lineup on an every-game basis continues to be a challenge.  He still has three more RFA years left which presents an opportunity for effectively a second bridge deal next summer.  If that happens, he could land in the $3.5MM per season range with arbitration rights.  Alternatively, if the sides want to work out a longer-term agreement, it might take closer to $6MM per year on the AAV to get that done.  Barring a breakout year, another short-term deal might make the most sense for both sides.

Juulsen came over in free agency this summer after spending the last four seasons in Vancouver.  He has largely filled the seventh spot over that span and is likely to have a similar role with the Flyers, ensuring that he’ll stay relatively close to the minimum next summer as well.  Gilbert was also brought in via free agency after splitting last season between Buffalo and Ottawa.  Like Juulsen, his role has largely been limited at this stage of his career so unless he can establish himself as a full-time regular, he should be staying in this price range as well.

At the time Ersson signed his contract, it seemed a little strange with it being a bridge deal that came a year early.  But since then, he has become their undisputed starter.  He hasn’t necessarily thrived in that role but he’s gaining enough experience to put together a decent case as he becomes arbitration-eligible next summer.  It would be surprising to see GM Daniel Briere hand him a long-term deal but a short-term pact with a price tag at more than double his $1.6MM qualifying offer is realistic.  Fedotov quickly signed this deal soon after coming over from Russia, an agreement that seemed to be in place when he first came to North America.  Unfortunately, it hasn’t worked out.  He struggled in his first full NHL campaign as a backup and it’s quite possible that he’s waived in training camp and sent to the minors where his cap hit would drop to $2.125MM if he clears.  Given his previous track record, there might be a team or two who wants to give him a look next summer on a cheaper deal but it would likely fall closer to the $1MM mark.

Signed Through 2026-27

D Ryan Ellis ($6.25MM, UFA)
F Tyson Foerster ($3.75MM, RFA)
F Garnet Hathaway ($2.4MM, UFA)
G Daniel Vladar ($3.35MM, UFA)

Foerster has reached the 20-goal mark in his first two full NHL seasons and finished one behind Michkov for the team lead in that department last season.  But the Flyers elected to kick the can down the road on a long-term pact, working out this bridge deal that gives him a $4MM qualifying offer and arbitration rights at the end of it.  If he stays on this trajectory, he could land closer to $7MM on his next deal.  Hathaway got a small raise to sign an early extension last summer.  An impactful fourth liner, he ultimately might have left a bit of money on the table doing so but he stays in a spot he’s comfortable with.  Given he’ll be 35 when he begins his next contract, it would be surprising to see him land more than another two-year agreement in 2027, one that should land around this price point.

Ellis hasn’t played since November 2021 due to ongoing back trouble and isn’t expected to play again.  He’s LTIR-eligible but if he winds up on there, the Flyers will have to contend with a bonus carryover penalty for whatever bonuses their youngsters (like Michkov) achieve, one that would count against their 2026-27 cap.  Of course, keeping him on the books in full this year limits their flexibility.  Neither outcome is particularly appealing but they’ll have to decide what’s the lesser of two evils.

Vladar came over in free agency from Calgary with Briere trying to do something to shore up a goaltending position that has been a big weak spot.  He showed some flashes at times with the Flames although he’s not the most proven player either, allowing the Flyers to get him at a backup-level price tag.  If he can establish himself as being part of the solution, pushing past $5MM next time is feasible.  If he remains more of a mid-level backup, then he’s likely to remain more in this range.

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Snapshots: Cooley, Murray, Mastrodonato

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With max-term contracts for re-signings set to shrink from eight years to seven next year, some feel teams will look to push to get their players signed this summer to guarantee that eighth season.  Among those eligible to sign now is Mammoth center Logan Cooley, a player Utah would undoubtedly like to lock up, especially with GM Bill Armstrong favoring long-term deals for core pieces as soon as possible.  However, Brogan Houston of the Deseret News recently argued that it’s not in Cooley’s best interest for him to extend now.  Given his stature as a young potential top-line center, he’d have to have a disastrous season to really tank his value compared to what it might be now while with the rising cap, it might be better for him to wait until next summer when the maximum term drops, allowing him to reach unrestricted free agency a year sooner.  AFP Analytics pegged a potential long-term extension for Cooley this summer to come in around seven years at around $9.5MM.

Elsewhere around the hockey world:

  • Winger Brett Murray has been with the Sabres for the better part of a decade after he was drafted by them back in 2016. However, now that he’s on the open market, he’ll be looking for a new team as his agent Dave Gagner told Bill Hoppe of the Olean Times Herald that the organization has informed Murray that they won’t be offering a contract to him.  The 27-year-old played in three games with Buffalo last season and has 26 appearances at the top level under his belt.  Murray spent most of last year with AHL Rochester where he had 27 goals and 22 assists in 66 games.  However, he now qualifies as a veteran under AHL roster rules which has likely limited his marketability so far.
  • The Kings have added some extra minor-league depth as their AHL affiliate in Ontario announced the signing of forward Keaton Mastrodonato to a one-year deal. The 24-year-old has two full professional seasons under his belt, split between the AHL and ECHL levels.  Last season, Mastrodonato was held off the scoresheet in the 13 games with AHL Colorado but was quite productive with ECHL Utah, tallying 19 goals and 30 assists in 53 outings with the Grizzlies.

Five Key Stories: 8/4/25 – 8/10/25

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With training camps now a little more than a month away, a lot of teams are in summer vacation mode while there’s still time.  Although that has resulted in much more limited activity around the hockey world, there was still some news of note which we’ll cover in our key stories.

Schaefer Signs: The top pick in this year’s draft is now under contract as the Islanders signed defenseman Matthew Schaefer to a three-year, entry-level deal.  The agreement pays him $975K per season in the NHL plus another $3.5MM in potential bonuses.  Schaefer was limited to just 17 games with OHL Erie last season and was sidelined for the final few months after suffering a fractured clavicle in the second game of the World Juniors.  That said, he was dominant enough in his two-plus months of action to move him up the draft rankings, making him the consensus number one selection in this year’s class.  By signing now, Schaefer is no longer NCAA-eligible should he not make New York’s roster.

Vesey Heads Overseas: Veteran winger Jimmy Vesey had strong interest in free agency, just not from NHL clubs.  Teams from several leagues tried to sign him and in the end, he decided to sign in Switzerland, inking a two-year deal with Geneve-Servette.  The 32-year-old had a limited role with both the Rangers and Avalanche last season, notching eight points in 43 games.  Originally drafted by Nashville back in 2012, he decided not to sign with them, kickstarting a rarely seen process that saw him reach August 15th free agency and meet with many teams before joining the Rangers.  Overall, Vesey has played in 626 career NHL games over parts of nine seasons, tallying 101 goals and 93 assists.

Panthers Unlikely To Move Rodrigues: With Florida sitting $3.725MM over the salary cap per PuckPedia, many have been waiting for the other shoe to drop; who would be moved to get them back into compliance?  The answer is, for now at least, no one, as Sportsnet’s Elliotte Friedman reported that the Panthers are unlikely to move forward Evan Rodrigues, the one player they could part with to get close to being cap-compliant.  Instead, it appears their intention is to start the season using LTIR with winger Matthew Tkachuk acknowledging that surgery is likely needed to fully repair the adductor injury he dealt with in the playoffs.  If that happens, he’d be expected to miss multiple months, allowing Florida to keep the rest of the group intact for at least a little while longer though they’d have to get compliant whenever Tkachuk was cleared to return.

Winger Signings: While Vesey signed overseas, two other UFA wingers found NHL contracts.  First, the Avalanche agreed to a one-year, $1.25MM deal with Joel Kiviranta.  The 29-year-old had a surprising 16 goals with Colorado last season after his previous career high in points in a single season was 11.  The deal gives Kiviranta a well-deserved raise while still being a reasonable enough price tag should his production drop back to normal levels.  Meanwhile, the Stars dipped their toes into the market as well, signing Nathan Bastian to a one-year, $775K contract.  The 27-year-old had 10 points and 138 hits in 59 games with New Jersey last season.  He’ll battle for a spot on the fourth line in training camp.

Varlamov To Resume Skating: Islanders goaltender Semyon Varlamov didn’t play at all last season after November due to a lingering knee injury.  They felt it was necessary to add some insurance in free agency when they signed David Rittich to a one-year deal.  However, it appears that Varlamov could be ready for training camp as he’s expected to resume skating in the near future.  The 37-year-old still has two years left on his contract at a $2.75MM AAV and while he’s coming off a down (injury-riddled) year, he has been one of the better backups in recent years.  Getting him back to form would be a nice boost heading into the season.

Photo courtesy of Jim Rassol-Imagn Images.

Salary Cap Deep Dive: New York Rangers

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Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those who don’t often see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation for the 2025-26 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Metropolitan Division, next up are the Rangers.

New York Rangers

Current Cap Hit: $94,722,024 (below the $95.5MM Upper Limit)

Entry-Level Contracts

D Scott Morrow (one year, $916.7K)

Potential Bonuses
Morrow: $350K

Morrow was part of the return for K’Andre Miller earlier this summer and he will look to establish himself as a full-time NHL player with his new team after playing sparingly with the Hurricanes.  Unless he can become a regular inside the top four, it’s unlikely his bonuses will be reached.  A bridge deal is likely down the road with a good showing this season potentially pushing that price past the $2MM mark.

Signed Through 2025-26, Non-Entry-Level

F Jonny Brodzinski ($787.5K, UFA)
F Artemi Panarin ($11.643MM, UFA)
G Jonathan Quick ($1.55MM, UFA)
D Braden Schneider ($2.2MM, RFA)
D Carson Soucy ($3.25MM, UFA)

Potential Bonuses
Quick: $300K

Panarin’s pending free agency is shaping up to be one of the more intriguing ones.  Signed to a record-setting deal the last time he hit the open market back in 2019, that won’t be the case next summer but he should still have strong value.  Panarin has produced more than a point per game in each of his six seasons with the Rangers, while he’s fourth among all NHL players in points over that stretch, behind Connor McDavid, Leon Draisaitl, and Nathan MacKinnon.  Pretty good company to be in.  However, he’ll also be 34 and nearly 35 when his next contract starts so his best days will soon be behind him.  A more medium-term agreement (three or four years) makes sense here and it’s possible such an agreement could land around the $10MM mark per season.

Brodzinski has done well the last couple of years, establishing himself as a back-of-the-roster player with a bit of offensive skill as he’s coming off a double-digit goal season.  Capable of playing center and the wing, he’s the type of lower-cost role player that could get a bit more interest next summer, giving him a chance to push past the $1MM mark for the first time in his career.

Soucy was acquired near the trade deadline in a move GM Chris Drury might already be regretting as he played limited minutes down the stretch.  He’s pricey for a sixth defender, especially with the team being tight to the Upper Limit.  That said, Soucy might still land close to this amount on the open market next summer.  Schneider had a solid first season of his bridge contract while locking down a top-four role for the first time.  He’s someone they’d probably like to sign to a longer-term deal next time out but that might run them closer to $6MM.  If they can’t afford that, then a one-year pact closer to $4MM might be the short-term fix.

Quick is back for his third season with the Rangers on his third one-year deal, an agreement that keeps going up in price each year.  His base salary isn’t likely to go too much higher, at least with New York as they look to keep the second-string spot affordable.  His bonuses are games played and performance-based but none of them are freebies; he’ll have to play with some regularity and perform well to get some of them.

Signed Through 2026-27

F Sam Carrick ($1MM, UFA)
F William Cuylle ($3.9MM, RFA)
F Justin Dowling ($775K, UFA)
F Adam Edstrom ($975K, RFA)
F Juuso Parssinen ($1.25MM, RFA)
F Taylor Raddysh ($1.5MM, UFA)
F Matt Rempe ($975K, RFA)
D Urho Vaakanainen ($1.55MM, UFA)

With the Rangers concerned about a possible offer sheet for Cuylle, they were able to get this done quickly enough to avoid the chance of that happening.  It’s on the higher end for a player who only has 66 career points under his belt but power forwards get paid early and often and this deal should hold up fine.  A long-term pact with arbitration rights next time out could come close to doubling this cost.  Raddysh came over in free agency from Washington where he managed a respectable 27 points in largely a limited role.  He’s not that far removed from a 20-goal campaign back with Chicago either but he’s likely to fill a regular spot in the bottom six.  Unless he can get back to that offensive form he briefly showed with the Blackhawks, Raddysh is likely to remain in this price range.

Parssinen’s stock has dropped after a season that saw him slide down the depth chart in Nashville and Colorado before being moved to the Rangers at the trade deadline where he still didn’t reach 10 minutes a night of playing time.  On the other hand, he’s still just 24 and has some room to stabilize.  He’ll be owed a $1.3MM qualifying offer with arbitration rights so he’ll need to show he can lock down a full-time role over the next two years or become a potential non-tender candidate as New York will want to keep its back-of-roster spots cheap.  Carrick was a low-cost add in free agency last summer and fared pretty well in a depth role, picking up 20 points and winning over 54% of his faceoffs.  If he can do that for two more years, he could set himself up for a jump closer to the $1.75MM mark.

Edstrom and Rempe both had brief stints with Hartford last season in between seeing largely fourth-line minutes with the Rangers, making bridge deals the obvious way to go.  They received identical contracts that buy the team more time to assess how much upside there still is.  If they progress, something in the $1.5MM after arbitration rights could be doable.  Dowling comes over from New Jersey after playing in a career-high 52 NHL games last season.  He’s someone whose roster spot could be a little tenuous while history has shown that he’s likely to stay at the minimum salary moving forward.

Vaakanainen came over from Anaheim as part of the Jacob Trouba trade and got an opportunity to play largely a regular role upon returning from an injury.  The 2017 first-round pick has been more of a depth player throughout his career but had arbitration rights which was enough to land him a small raise to avoid the risk of going to a hearing.  He’ll need to show he can be more than a depth option if he wants to get more than this moving forward.

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East Notes: Rangers, Alexeyev, Magnusson

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With most of the roster spots already set, there isn’t a lot of battles heading into training camp for the Rangers next month.  With that in mind, Larry Brooks of the New York Post believes (subscription link) that their biggest decision in camp might by on the captaincy front.  Namely, should they name one and if so, who might be the best candidate for the job?  New York went without a captain for the bulk of the season after moving Jacob Trouba to Anaheim back in December.  The Rangers have moved their last three captains within four years of them being appointed so ideally, whoever they name (if they name one) should be someone who’s going to be around for a while.  Brooks suggests J.T. Miller as a viable candidate for the role; he was acquired as a culture-changer and has five years left on his contract.

Elsewhere in the East:

  • Speaking with RG’s Daria Tuboltseva, Penguins defenseman Alexander Alexeyev noted that he wasn’t surprised at being non-tendered by Washington back in June. The 25-year-old was a frequent healthy scratch last season, getting into just eight games during the regular season although he suited up more frequently in the playoffs.  With Alexeyev having arbitration rights, the Capitals knew early they’d be letting him go, informing his camp of the decision several weeks ahead of time.  Alexeyev added that he gave no consideration to returning home and playing in the KHL and instead, he signed for the league minimum with the Penguins and will look to earn a roster spot with them.
  • The Red Wings will be inviting defenseman Carl-Otto Magnusson to rookie camp next month, relays Hockey Sverige’s Rasmus Kagstrom. The 19-year-old spent last season in Frolunda’s system, playing primarily at their junior level where he had eight points in 44 games and also got into three contests in the SHL.  However, the six-foot-seven defender will suit up in North America this season after being a second-round pick by QMJHL Moncton in the CHL Import Draft.

Metropolitan Notes: Islanders, Iskhakov, Penguins

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With training camps a little over a month away, we’re not too far away from seeing plenty of veterans inking PTO deals to try to catch on with a team for the 2025-26 season.  Don’t expect the Islanders to be doing so, however.  NewsNation’s Rob Taub relays (Twitter link) that GM Mathieu Darche indicated during a virtual Q&A with season ticket holders that he doesn’t intend to bring in anyone on tryout deals to camp.  New York has some extra depth up front following the additions of Jonathan Drouin, Emil Heineman, and Maxim Shabanov while it appears they plan to give some prospects including top pick Matthew Schaefer a chance to lock down a spot on the back end, negating the need to add some extra options at that position.

More from the Metropolitan:

  • Still with the Islanders, RFA winger Ruslan Iskhakov told Match TV’s Andrey Irkha that his plan remains to return to North America for the 2026-27 season. The 25-year-old was quite productive in the minors with Bridgeport in 2022-23 and 2023-24, tallying 101 points in 138 games along the way but was only recalled for one NHL contest, a game in which he scored.  But instead of re-signing last summer, he opted to return home on a two-year deal with CSKA Moscow where he had 12 goals and 17 assists in 60 games last season.  Now with Metallurg Magnitogorsk following a trade last month, Iskhakov doesn’t appear to be changing his original plan and appears intent on giving an NHL shot another go next year.
  • The Penguins have added some defensive depth this summer with the signings of Parker Wotherspoon and Alexander Alexeyev plus the acquisitions of Mathew Dumba and Connor Clifton. At first glance, that would seemingly close the door on prospects Owen Pickering or Harrison Brunicke having a chance to push for a roster spot, even with the team saying both will get long looks in training camp.  Matt Vensel of the Pittsburgh Post-Gazette wonders if the Penguins might consider waiving and demoting some of those newcomers – Clifton or Dumba in particular – to create an opening for one of the youngsters.  With Pittsburgh not expected to contend for a playoff spot as things stand, it will be interesting to see if any budgetary restrictions are imposed which could make having a seven-figure player or two in the minors more of a challenge.

No Recent Talks Between Flames And Rasmus Andersson

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The future of defenseman Rasmus Andersson with the Flames has been a subject of much debate this offseason.  While Calgary isn’t looking to rebuild and thus doesn’t necessarily want to move him, Andersson doesn’t appear to be ready to sign a long-term extension with them either, fueling trade speculation.

Earlier this summer, TSN’s Darren Dreger suggested that Los Angeles had a deal in place to acquire Andersson but that the blueliner indicated that he didn’t want to play there.  Speaking with Expressen’s David Carlsson and Mikael Ljungberg, the 28-year-old acknowledged he had been approached about a move somewhere but declined to confirm that it was indeed the Kings.  But he wasn’t comfortable about moving his family and signing a long-term deal right away, scuttling those talks.  Andersson also continues to vehemently deny earlier reports that the only team he’d sign with right away is Vegas.

With trade talks seemingly at a stalemate for now, it would be logical to think that the two sides might resume contract discussions.  However, Andersson noted that since the draft-day trade fell apart, there has been zero communication with the team.

Andersson has been an all-situations player for the last several years in Calgary while reaching at least 30 points in each of the last four campaigns.  That has him in line to land a sizable raise on his current $4.55MM AAV, even though he’s coming off a quieter year offensively where he has 10 goals and 21 assists in 81 games while averaging 23:59 per night of playing time.  Even with the reduced point total, AFP Analytics pegged an Andersson extension to cost around $8.4MM per season on a seven-year deal.

While it’s believed there were at least initial discussions about a new deal this offseason, the belief is that there’s still a big gap to bridge and clearly, neither side appears to be in a rush to try to reduce the difference.  GM Craig Conroy has stated multiple times that he’s comfortable with Andersson coming to camp without an extension in place and based on the lack of contact between the two sides, that appears to be the likeliest outcome as things stand.

Salary Cap Deep Dive: New York Islanders

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Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those who don’t often see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation for the 2025-26 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Metropolitan Division, next up are the Islanders.

New York Islanders

Current Cap Hit: $89,368,333 (below the $95.5MM Upper Limit)

Entry-Level Contracts

D Isaiah George (two years, $838.3K)
D Matthew Schaefer (three years, $975K)
F Maxim Shabanov (one year, $975K)

Potential Bonuses
George: $80K
Schaefer: $3.5MM
Shabanov: $3.5MM
Total: $7.08MM

The Islanders were the successful team out of a field of money to sign Shabanov out of Russia.  One of the top scorers in the KHL last season, it’s fair to say they’ll be counting on him to be at least a secondary producer this year.  In doing so, he could have a shot at hitting some of his ‘A’ bonuses of which he has four at $250K apiece.  Notably, Shabanov will be arbitration-eligible next summer which will put some extra emphasis on the upcoming season.

Schaefer was the number one pick in the draft back in June despite missing most of the season due to injury.  By signing his entry-level deal, the NCAA route is off the table so it’s the NHL or junior hockey for him.  If he stays the full year and becomes a top-four piece, some of his four ‘A’ bonuses will be achievable as well.  It’s not normal to put an ‘if’ in front of a number one pick playing in the NHL right away but with Schaefer, it’s far from a given.  George didn’t look out of place in 33 games with the Isles last season.  His situation may be tied to Schaefer making the team or not but it stands to reason he’ll at least see some NHL action again, allowing him to reach some of his ‘B’ bonus for games played.  George is trending toward a low-seven-figure bridge deal two years from now.

Signed Through 2025-26, Non-Entry-Level

D Adam Boqvist ($850K, RFA)
D Tony DeAngelo ($1.75MM, UFA)
F Marc Gatcomb ($900K, RFA)
F Anders Lee ($7MM, UFA)
F Jean-Gabriel Pageau ($5MM, UFA)
G David Rittich ($1MM, UFA)

After a tough 2023-24 campaign, Lee bounced back last season with his highest point total since 2017-18.  He finished second on the team in points which is more like what they expect from their captain.  However, Lee will be entering his age-36 year on his next deal and teams have gotten stingier with contracts given to players that age in recent years.  Even a three-year agreement might be deemed too risky unless it was for a big cut price-wise.  A two-year pact could be doable at a small dip in pay or, alternatively, teams could push for one year plus achievable games-played bonuses to allow for more in-season flexibility.  Both are viable options for him next summer.

A year ago, it looked like the Islanders might have to attach a sweetener to clear Pageau’s contract but instead, they spurned trade interest in him this summer.  He’s someone who is steadily around the 35-40-point mark and with his defensive ability and faceoff prowess, he should have good interest next summer.  Besting this price tag might be tough for Pageau but another multi-year pact with an AAV starting with a four might be doable.  Gatcomb was a serviceable fourth liner in the second half of last season, a good showing after getting his first NHL deal at 25 last summer.  He’ll need to show that can hold that role down over a full season and if he does, that could jump him into the $1.5MM range next year.

DeAngelo was a midseason signing after being lured away from his KHL contract and it was a good move as he was his usual productive self while also logging over 23 minutes a game.  His defensive concerns will continue to limit his earnings upside but a good full-season showing could give him a shot at a multi-year deal in the $3MM range next summer.  Boqvist saw limited minutes after being a midseason waiver claim and signed with a small raise instead of what was likely to be a non-tender to avoid arbitration eligibility.  He’ll still be arbitration-eligible summer which will probably work against him again barring a breakout season.  As someone who profiles as a sixth defender at best, he’s likely going to stay close to the minimum salary unless his role drastically changes.

Rittich was brought in as goaltending insurance via free agency.  He wound up making 31 starts for the Kings last season although his .886 SV% was well below average.  Still, he has been a serviceable backup in the past if need be and if he isn’t needed to hedge against injuries, his contract can come off the books entirely if he’s in the minors (if he’s not claimed off waivers).

Signed Through 2026-27

F Casey Cizikas ($2.5MM, UFA)
F Jonathan Drouin ($4MM, UFA)
F Emil Heineman ($1.1MM, RFA)
F Simon Holmstrom ($3.625MM, RFA)
F Kyle MacLean ($775K, RFA)
F Kyle Palmieri ($4.75MM, UFA)
F Maxim Tsyplakov ($2.25MM, UFA)
G Semyon Varlamov ($2.75MM, UFA)

Palmieri was in trade speculation right up to the deadline with the belief that the lack of a trade meant a handshake agreement was in place with then-GM Lou Lamoriello.  It appears new GM Mathieu Darche largely upheld that agreement with this contract.  Palmieri quietly posted 24 goals and 24 assists last season and near-50-point production for under $5MM in this market isn’t bad value.  He’ll be 36 when he needs a new contract and, like Lee, his options may be more limited at that time.  When healthy, Drouin was quite productive with Colorado, notching 37 points in 43 games but injuries have now been an issue for him in five of the last six seasons.  While he was able to get more than one year this time around, it’s still a below-market contract for what a top-six forward should be receiving.  He’ll need to stay healthy and keep producing if he wants a shot at a long-term deal two years from now.

Holmstrom has only been a full-time NHL player for the last two seasons but has quickly worked his way from being a role player to a secondary core piece at both ends of the ice.  The lower-cost bridge deal bought Darche some extra short-term flexibility but it sets up Holmstrom well two years from now when he’ll have a $3.75MM qualifying offer and arbitration rights.  Assuming he’s able to at least stay at this level, a jump to something starting with a five might be the next step.  Cizikas getting six years four summers ago was a bit of a shocker although it has held up relatively well so far.  He’s still a contributing fourth liner who can move up in a pinch and help a bit on the penalty kill.  In a market where some fourth liners are starting to get higher salaries, this isn’t as much of an overpayment as it might have first seemed.

Tsyplakov was believed to also be nearing a new deal before the GM change but this one wasn’t upheld with the sides working out this agreement a little before an arbitration hearing.  He had a solid first season in North America after coming over from the KHL and even if he stays in a third-line role, this deal should hold up well.  With a couple more years under his belt come 2027, his market could be an interesting one.  Heineman came over as part of the Noah Dobson trade after a decent rookie season that saw him score double-digit goals while primarily playing on the fourth line.  Assuming he even stays at that pace, he could land closer to $1.75MM in two years while some offensive improvement could allow him to easily clear $2MM.  MacLean was a regular fourth liner although he wasn’t used a lot, nor did he produce much.  If he stays in this role, he’s likely to stay close to the minimum moving forward.

When Varlamov received a four-year deal two years ago at 35, it was supposed to be the last two seasons that would be the concerning ones.  However, he was limited to just 10 appearances last season and is only set to start skating soon, necessitating the Rittich signing as insurance.  At his best, Varlamov can be an above-average backup but with the injuries, that’s a big question mark moving forward.

Signed Through 2027-28

F Anthony Duclair ($3.5MM, UFA)

Duclair was last summer’s impact acquisition but he wasn’t very impactful offensively, notching just 11 points in 44 games while dealing with some injuries along with a leave of absence following some public criticism from head coach Patrick Roy.  With limited cap space, they’ll need him to pull his weight moving forward or his deal might be one they’re looking to get out of in a hurry.

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Atlantic Notes: Lindholm, Jarnkrok, Sandin-Pellikka

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Bruins defenseman Hampus Lindholm was only able to play the first five weeks of the season before a fractured kneecap ended his 2024-25 campaign early.  He told Kevin Paul Dupont of the Boston Globe that he has now fully recovered from that injury and will be fully ready to participate in training camp next month.  The 31-year-old has been a steadying presence on the back end for Boston since they acquired him back in 2022 and is only a couple of years removed from a career-best 53-point season.  With the Bruins looking to get back into the playoff picture this coming season, having a top-pairing blueliner in Lindholm back in their lineup will certainly help those efforts.

Elsewhere in the Atlantic:

  • Maple Leafs winger Calle Jarnkrok missed most of last season after undergoing groin and sports hernia surgeries in mid-November. While he returned down the stretch, he struggled to the point of being scratched at times.  The veteran told Gefle Dagblad’s Marcus Hagerborn that he knew when he had the procedures that he wouldn’t be fully healthy for a while upon returning.  However, he noted that he has gotten back to that point just recently which is a good sign heading into training camp next month.  Jarnkrok has one year left on his contract with a $2.1MM cap charge and a solid, healthy start to next season might make their current efforts to move him a little easier.
  • While Red Wings GM Steve Yzerman hasn’t ruled out prospect Axel Sandin-Pellikka from breaking camp with Detroit in a couple of months, MLive’s Ansar Khan suggests that outcome is unlikely. The 20-year-old was a first-round pick back in 2023 (17th overall) and had a strong season in Sweden last year, picking up 12 goals and 17 assists in 46 games with SHL Skelleftea.  He also was one of the top scorers at the World Juniors and got his feet wet with five games with AHL Grand Rapids (including playoffs) in the spring.  But Detroit tends to favor slow-playing the development of their top prospects, allowing them to work on some things with the Griffins before giving them a real NHL look.  Between that and not opening up any spots on the back end this summer, Sandin-Pellikka seems likely to continue that trend.

Stars Sign Nathan Bastian

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The Stars have added some depth on the wing as the team announced that they’ve signed Nathan Bastian to a one-year, one-way contract.  The agreement will pay the league minimum of $775K.  GM Jim Nill released the following statement:

Nathan will add forward depth and a physical presence to our lineup, both of which will be valuable to our organization. We’re looking forward to watching him take the next step of his career with the Stars and are excited to welcome him to Dallas.

The 27-year-old has parts of six NHL seasons under his belt, most of which came with New Jersey, which drafted him in the second round back in 2016.  Before now, his only time away from the Devils since that time came when Seattle selected him in the 2021 Expansion Draft but just two months later, the Kraken waived Bastian with New Jersey quickly reclaiming him.

Last season, Bastian played in 59 games for the Devils, picking up four goals and six assists along with 138 hits in just under 11 minutes per night of playing time.  That stat line lines up with most of his seasons as he has yet to reach 20 points in a single year while he has only hit the double-digit mark in goals once, that coming back in 2021-22.  However, he averages 223 hits per 82 games played, giving the Stars some extra physicality in their lineup.

Dallas has largely stayed quiet as expected in free agency this season with the bulk of their moves coming from either re-signing players or making trades.  As things stand, he’s likely to battle with Oskar Back and Colin Blackwell for playing time on the fourth line while starting out as the 13th forward is a realistic outcome as well.

At the moment, the Stars project to be very tight against the salary cap with a 23-player roster coming in just a few hundred thousand below the Upper Limit, per PuckPedia.  Accordingly, this could very well be it for their free agent moves with a big chunk of their roster from last season’s run to the Western Conference Final returning as from here on out, any addition will require money coming off their books as well.

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