Pacific Notes: Gudas, Sharks, Montour
While it looked as if Ducks defenseman Radko Gudas would need surgery to address a lingering knee issue, he noted to NHL.com’s Michael Langr that he ultimately didn’t need it and that he was able to recover simply through rehab. The 35-year-old still managed to play in 81 games last season despite the injury, recording a dozen points, 178 blocked shots, and 261 hits in just under 20 minutes a night of playing time. Now entering the final season of his three-year, $12MM contract signed two years ago, Gudas added that there have yet to be any extension talks but that he understands there are other priorities for GM Pat Verbeek to be dealing with at this time.
Elsewhere in the Pacific:
- The City of San Jose and the Sharks have released a Memorandum of Understanding that could keep the Sharks in town for many more years. Pending ratification from City Council later this month, the deal would see the arena undergo a $425MM renovation over a seven-year span with the city funding $325MM of that and the team $100MM. In return, the Sharks would agree to extend their stay in San Jose through at least the 2050-51 season. Their current arena is now more than 30 years old and has yet to undergo a significant renovation. Notably, it’s mentioned in the document that it is not feasible for the Sharks to stay at the renovated facility for the entire term of that agreement and that both sides will work to find a prospective location for a new arena district.
- After not making Canada’s 4 Nations Face-Off roster, Kraken blueliner Brandon Montour opted to accept an invitation to the Worlds back in May in the hopes of improving his chances of being selected to play in the Olympics. He fared quite well in the tournament, tying for the lead in points by a defenseman with nine. Accordingly, NHL.com’s Mike Zeisberger suggests that the 31-year-old may now have a viable shot at making the roster, especially with GM Doug Armstrong suggesting that in-season performance and not just their track record will go a long way toward determining the final roster. Montour had a career-best 18 goals in his first season with Seattle in 2024-25 and will look to build off that this season.
Jani Hakanpaa Fully Cleared From Knee Injury, Has Had NHL Interest This Summer
Despite seeing very little game action, last season was an eventful one for free agent defenseman Jani Hakanpaa. He agreed to terms with Toronto on the opening day of free agency on a multi-year deal before his physical revealed concerns over his recovery from knee surgery. Eventually, a revised one-year pact was agreed upon with the hope that he’d be able to return at some point in the season.
However, that return only lasted two games in November before he was sidelined once again, landing right back on LTIR. But there was a chance he could have suited up in the playoffs as the 33-year-old told Ilta-Sanomat’s Ville Touru earlier this month that he had been cleared by team doctors to suit up if he was needed. Now, he says he has been fully cleared and is looking to sign with an NHL team for the upcoming season.
When healthy, Hakanpaa has been an effective third-pairing blueliner while bringing plenty of physicality to the table. Over his 290 career NHL appearances, he has 899 hits along with 45 points in 18 minutes a night of playing time. As a big right-shot player, there would be a decent market for his services if teams feel he can legitimately step up and contribute.
Hakanpaa noted that he has had some calls this summer from NHL teams but that he wanted to wait a little to see how the market shook out first. Whether that’s a sign that the offers weren’t to his liking or that he wanted to get a sense of where he might best fit remains to be seen.
Speculatively, given the injury trouble, he’s someone who stands out as a viable PTO candidate. He isn’t eligible for a one-year deal with performance incentives as while he meets the requirement of being on IR for 100 days last season, he doesn’t meet the games played criterion of 400 NHL appearances. But with Hakanpaa being healthy (or as healthy as he’s going to be following the surgery), he could be an intriguing pickup over the coming weeks.
Salary Cap Deep Dive: Pittsburgh Penguins
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 Penguins.
Pittsburgh Penguins
Current Cap Hit: $82,466,429 (below the $95.5MM Upper Limit)
Entry-Level Contracts
F Rutger McGroarty (two years, $950K)
D Owen Pickering (two years, $886.7K)
Potential Bonuses
McGroarty: $500K
Pickering: $250K
Total: $750K
The hope was that McGroarty would lock down a full-time spot last season but it didn’t happen. Instead, he spent most of the season with Wilkes-Barre/Scranton but showed well down the stretch which could give him a chance amidst a fairly deep group of depth forwards. Even if he does play regularly, he’s unlikely to hit his two ‘A’ bonuses.
Pickering might be in the mix on the back end but their offseason defensive depth additions make it likely as things stand that he starts in the minors. With 25 NHL games last season, he’s tracking towards a bridge deal, especially if he spends a good chunk of the year in the AHL.
Signed Through 2025-26, Non-Entry-Level
F Noel Acciari ($2MM, UFA)
D Alexander Alexeyev ($775K, RFA)
D Connor Clifton ($3.333MM, UFA)
F Connor Dewar ($1.1MM, UFA)
D Mathew Dumba ($3.75MM, UFA)
F Kevin Hayes ($3.571MM, UFA)*
F Danton Heinen ($2.25MM, UFA)
F Blake Lizotte ($1.85MM, UFA)
F Evgeni Malkin ($6.1MM, UFA)
F Anthony Mantha ($2.5MM, UFA)
D Ryan Shea ($900K, UFA)
G Arturs Silovs ($850K, RFA)
F Philip Tomasino ($1.75MM, RFA)
*Philadelphia is retaining an additional $3.571MM on Hayes’ deal.
Potential Bonuses
Mantha: $2MM
Let’s face it, this is quite the long list and that’s by design for GM Kyle Dubas who is setting up for maximum flexibility over the next couple of summers.
One part of that flexibility will be the end of Malkin’s contract. A deal that took way longer than expected to hammer out, giving him four years at the age of 35 seemed to carry some risk but it has held up alright as he has notched 200 points in 232 games over that stretch although he is slowing down now. With that in mind, he might not provide a particularly strong return on this final season but overall, they did reasonably well on this contract. Malkin’s future with Pittsburgh and the NHL in general will be in question after this as the Penguins might not want to keep a player who would be 40 on a team that’s trying to rebuild while Malkin may not want to go elsewhere after spending what will be 20 years with the Penguins. If he does, a one-year pact with lots of performance bonuses will be the deal other teams will offer.
The hope was that a change of scenery for Hayes might get him going after a tough year in St. Louis but instead, his role was reduced further and his performance dipped more. It’s hard to see that changing but his track record is still good enough that he could land around $3MM or so on another short-term deal as long as this season is around how he did last year. Mantha comes over from Calgary following an injury-riddled year that caused him to miss the final 69 games due to ACL surgery. When he’s on, he can be an effective top-six piece but has done so sporadically to the point where he needed a one-year deal last summer coming off an inconsistent season. If he rebounds, he could get back to the $4MM range but that’s far from a given. His bonuses are fairly simple; he’ll receive $250K at every ten-game increment he plays from 10 to 80.
Heinen was acquired from Vancouver as part of the Marcus Pettersson trade last season and did okay with his new team. He’s capable of putting up decent production from a bottom-six role which earned him this contract last summer but he’s not far removed from having to take a PTO either. If he hovers around the 30-point mark again, he could command a similar price tag to this on the open market next summer. Acciari’s first two seasons in Pittsburgh haven’t lived up to expectations. More of an impactful player offensively in 2022-23, his production the last two years hasn’t added up to that mark. He’s still a physical fourth liner who can kill penalties and win faceoffs but barring an uptick in output this season, Acciari is likely heading for a small dip in pay.
From a point-per-game perspective, last season wasn’t bad for Lizotte but the injury bug got him again for the second straight year. While he can be a 30-point player when healthy, he needs to show he can stay in the lineup for closer to a full 82 games to have a shot at besting this deal next summer. Tomasino had some decent moments after being picked up from Nashville. It’s too early to say that he could be part of their longer-term plans which is why the one-year pact made sense for both sides. He was non-tendered to avoid arbitration rights in June before re-signing and that could be his fate again unless there’s an uptick in his production. Dewar also went through the non-tender process six weeks ago but, like Tomasino, quickly re-signed. After seeing low minutes in Toronto, he fared better down the stretch but will need to be more of a third liner than a fourth if he wants to get to another level in terms of his contract instead of going year-to-year at only a bit above the league minimum.
Dallas signed Dumba last summer, feeling that he could still be a serviceable second-pairing player. That didn’t happen. Instead, he struggled in a very limited role before being scratched entirely in the playoffs and traded away with draft compensation for taking on the final year of his deal. It’s possible that he rebounds but it’s also possible that he has a very limited role again. At this point, he’d be hard-pressed to reach half of what he’s making now. Clifton wasn’t able to establish himself as more of a third-pairing option with Buffalo in his two seasons with them before being moved in an offseason swap as well. He’s a more reliable option than Dumba at this point and his market should be okay next summer, just with a price tag closer to the $2MM mark instead of more than $3MM once again.
Shea is a success story from Group Six free agency. While not many of those players find better opportunities elsewhere, he did just that, going from never seeing NHL action in Dallas to playing in 70 games with Pittsburgh over the last two seasons, landing him two straight one-way deals. With still a limited role, it’s hard to see him going much higher than this but it’s still a nice turnaround for someone earmarked as a full-time AHLer just a couple of years ago. Alexeyev hardly played at all last season, leading to a non-tender from Washington. He’ll need to at least establish himself as more of a viable sixth option or he could be heading toward two-way offers moving forward. He’s still arbitration-eligible but unless he breaks out and has a big year, he’s a safe bet to be non-tendered again next offseason.
Silovs was brought in via a recent trade with Vancouver to take a run at a full-time NHL backup spot. He had that going into last season with the Canucks but struggled mightily. However, he had a solid year with AHL Abbotsford before playing a key role in their Calder Cup victory, making it unlikely he’d slip through waivers. If he can establish himself as being at least a suitable full-season backup, doubling this price tag with arbitration rights is doable.
Signed Through 2026-27
F Justin Brazeau ($1.5MM, UFA)
F Sidney Crosby ($8.7MM, UFA)
D Erik Karlsson ($10MM, UFA)*
F Thomas Novak ($3.5MM, UFA)
D Parker Wotherspoon ($1MM, UFA)
*-San Jose is retaining an additional $1.5MM on Karlsson’s contract.
Crosby is quietly beginning a new contract with the Penguins this season although it’d be easy to miss that considering he has had the same cap hit since 2008, a price tag he has provided significant surplus value on. At 38, he might still provide plenty of value on this contract coming off a 91-point season which shows he still has plenty left in the tank. He’s been featured in plenty of trade speculation given that he’s nearing the end of his career and the Penguins aren’t close to contention but with full trade protection, Crosby will get to decide his fate. But no matter where he winds up (and staying in Pittsburgh remains the overwhelmingly likely outcome), he’s a safe bet to continue to provide positive value money-wise.
Novak was brought over near the trade deadline in a trade with Nashville. He didn’t come close to reaching the 40-point mark for the third straight year, instead barely amassing half of that despite some solid underlying numbers. If he can even get into the mid-30s offensively, this deal should hold up well given the high demand for centers. Brazeau was a full-time minor leaguer just a couple of years ago and only has one full NHL season under his belt. However, he did well enough to land this deal in free agency. If he puts up another couple of double-digit goal campaigns, he should be able to push past $2MM in 2027.
Karlsson hasn’t been able to come close to reaching 100 points again as he did in his final season in San Jose but he has remained one of the better offensive blueliners in the NHL. His defensive warts notwithstanding, he’s someone who can still handle big minutes and while his price tag is an overpayment for his current performance, it’s probably only a few million above market value at most. If he’s still an above-average offensive threat two years from now, a two-year deal even at 37 could be doable, albeit at a significantly lower price tag. Wotherspoon had his best showing last season with Boston, holding his own in 55 games with the Bruins to earn the first seven-figure deal of his career. If he can remain a capable third-pairing player over his time on this contract, doubling this price tag could be doable.
Marc-Edouard Vlasic Intends To Play This Season, Comments On San Jose Buyout
With training camps now around a month away, there should start to be an uptick in signings relatively soon as veterans look to find places to play for the upcoming season. Veteran blueliner Marc-Edouard Vlasic was a late entrant to the free agent market and indicated to Stephane Cadorette of Le Journal de Quebec that he fully intends to play in the NHL in 2025-26.
The 38-year-old was a core piece on San Jose’s back end for the better part of a decade and a half before his role started to diminish significantly in recent years. Last season, he spent time both on injured reserve and as a healthy scratch, limiting him to just a goal and two assists in 27 games with his average ice time dropping to 14:38, the lowest of his career.
In his prime, Vlasic was one of the top defensive blueliners in the NHL. In particular, he has been quite adept at blocking shots as he’s the all-time league leader in that regard, per QuantHockey although it should be noted that the statistic has only been tracked for around the last two decades.
Vlasic had one year left on his deal before free agency opened up with the Sharks apparently deciding very last minute to execute the buyout. The veteran voiced some frustration about how that came about, noting that in the exit interview back in April that they wanted him to continue to provide the veteran leadership they were seeking. Then, a few days before the end of June, they informed him that they’d be buying out the final year of his deal after 19 seasons.
From the outside, the move could have been reasonably foreseeable given his $7MM AAV and the very limited role he had been filling. Rather than string along a player who was once a franchise pillar with minimal ice time for yet another year, they opted to pay his $2MM signing bonus plus two-thirds of his $3.5MM salary over the next two seasons to move on.
GM Mike Grier wasted little time filling Vlasic’s spot on the roster. He brought in Dmitry Orlov in free agency while claiming fellow lefty Nick Leddy off waivers while John Klingberg adds some depth to their group of right-shot options as well. With what they had planned, there was clearly no room to keep Vlasic around.
As for Vlasic, given how limited his role was last season, it would be surprising to see him land a contract of any significance on the open market as it’s likely teams will envision him as a depth option similar to how he was deployed in San Jose rather than a full-time player. Several of those players will be signing tryout agreement in the weeks to come and it wouldn’t be shocking to see Vlasic need to go that route as well as he looks to extend his NHL career to a 20th season.
Adam Ruzicka Re-Signs In KHL
August 15: While Ruzicka was hoping to return to the NHL, it won’t be happening. His agent told RIA Novosti’s Andrey Senchenko that Ruzicka has signed a new two-year deal with Spartak.
August 5: Free agent forward Adam Ruzicka turned to the KHL last season and had a solid showing in Russia with Spartak but notably hasn’t signed a new deal there yet. Spartak advisor Valeri Kamensky told Alexander Abustin of Sport-Express that the reason Ruzicka hasn’t re-signed yet is because he’s holding out hope to get another NHL opportunity.
The 26-year-old was a fourth-round pick by Calgary back in 2017, going 109th overall. He spent parts of four seasons with the Flames before being claimed off waivers by Arizona in early 2024. However, a month later, Ruzicka and the Coyotes agreed on a mutual contract termination a month later, making him an unrestricted free agent. After another NHL chance didn’t materialize in short order, he ultimately signed with Spartak in late May 2024.
Ruzicka was certainly productive in Russia, notching 26 goals and 19 assists in 65 regular season games, good for fifth in team scoring. He was even better in the playoffs, picking up seven goals and five helpers in 12 postseason contests, making the most of his opportunity to play a more offensive role after being more of a depth player in the NHL.
Over his four NHL seasons, Ruzicka has played in 117 games, picking up 14 goals and 26 assists. However, a good chunk of that production came in 2022-23 when he recorded 20 points in just 44 games with Calgary before his output tailed off the following year. Basically, he’s not too far removed from being a legitimate depth contributor at the top level.
Kamensky acknowledged that discussions are underway with Ruzicka so if he doesn’t get another NHL look, he’ll simply re-sign. But, for now at least, it appears he’s hoping to get another chance at the top level first.
Submit Your Questions For The #PHRMailbag
We are effectively near the midway point of the NHL’s summer season. Free agency has slowed down with teams looking for bargains while the last few players of note are holding out hope that a team will improve their offer or find a way to make a trade to open up extra cap space. Meanwhile, the trade market has stayed cool but that could change at any time.
So, with a general lull in the summer period, it’s a good time to reopen the mailbag to talk about what has happened and what could still be coming. Our last call for questions saw enough submissions to fill three columns. The first included discussion about Bowen Byram’s future in Buffalo, the state of goaltending, and the K’Andre Miller trade. Topics in the second included Washington’s potential forward logjam, tanking in professional sports, and the best and worst summers so far. Lastly, the third covered what’s next for Montreal, why the Devils haven’t been able to clear Ondrej Palat’s deal, contenders for the Gavin McKenna sweepstakes, and more.
You can submit a question by using #PHRMailbag on Twitter/X or by leaving a comment down below. The mailbag will run this weekend.
Salary Cap Deep Dive: Philadelphia Flyers
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.
Snapshots: Cooley, Murray, Mastrodonato
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
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
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.
