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Kraken Sign Jake O’Brien To Entry-Level Contract

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2:45 p.m.: Seattle has confirmed the deal, although financial terms were not disclosed.

12:57 p.m.: The Kraken had 2025 No. 8 overall pick Jake O’Brien sign his entry-level contract during today’s development camp scrimmage, Kate Shefte of the Seattle Times reports.

O’Brien, 18, is the latest high-profile name to join a Seattle club that’s now rather deep down the middle organizationally. They’ve had four top-10 picks since their inception in 2021 and have used all of them on centers, previously selecting Matty Beniers, Shane Wright, and Berkly Catton.

Seattle picked the 6’2″ playmaking pivot right around where most expected him to go. For a 2025 draft tabbed as a weaker one, O’Brien carries a strong statistical profile for someone picked that late in the top 10. He was the OHL’s Rookie of the Year in 2023-24 and followed that up with a 32-goal, 98-point season for his Brantford Bulldogs in 66 games.

His point production was likely inflated somewhat – there were two 100-point scorers on the team ahead of him, and there are some concerns about his defensive acumen. Nonetheless, he’ll have an NHL-ready frame in a couple of years’ time once he adds some weight and is one of – if not the best – pure passers in this year’s class, multiple outlets say.

O’Brien may get a long look in training camp, but isn’t necessarily expected to compete for a roster spot. In the likely scenario that he returns to Brantford, his contract will slide to the 2026-27 season.

Hurricanes Sign Nikolaj Ehlers To Six-Year Deal

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The Hurricanes are signing top free agent Nikolaj Ehlers, ESPN’s Kevin Weekes and Sportsnet’s Elliotte Friedman report. The team has announced the contract, which comes in at six years and $51MM for an $8.5MM cap hit.

Ehlers, No. 2 on our board of top UFAs this summer, had been linked to Carolina since the outset of free agency. Although it became clear he wouldn’t sign on July 1, instead waiting things out after most of the top names decided not to test the market, the Hurricanes were an implied frontrunner while the Capitals and Lightning had also spoken to his camp. Tampa was no longer in the conversation as of Thursday morning, but it appears the Caps, as well as the Mammoth, were in talks with Ehlers’ camp until his decision to choose Carolina in the last hour, David Pagnotta of The Fourth Period reports.

The 29-year-old Dane will capitalize on one of the better seasons of his NHL career in 2024-25 and make the jump to Carolina from Winnipeg. The Jets made him the No. 9 overall pick in the 2014 draft, and for the most part, he’s lived up to that billing. He scored 225 goals and 520 points in 674 games in 10 years in a Jets uniform, leaving the club as its fifth-leading goal-scorer in franchise history.

While Ehlers isn’t the answer to the No. 2 center question that’s plagued Carolina for the past few seasons, he’s that elusive additional top-six winger the club has chased with expensive in-season rentals over the past couple of years, bringing names like Jake Guentzel and Mikko Rantanen in for brief stops in Raleigh. Ehlers scored 24 goals and 63 points in 69 games last season – a 29-goal, 75-point pace had he played in all 82 games. That would have made him one of two 70-point scorers on the Canes last season, along with Sebastian Aho.

It remains to be seen whether Carolina will pair the play-driving winger with Aho on a first line or have Ehlers anchor his own line. He’s hoping it’s the former after years of having his even-strength ice time oddly limited in Winnipeg. Despite averaging north of 60 points per 82 games over his career, Ehlers has only averaged more than 17 minutes per game twice and averaged just 15:48 last year, making him one of the most efficient scorers in the league on a per-minute basis.

The signing caps off what’s been a week of big spending in Raleigh. They rewarded rising sophomore Logan Stankoven with an eight-year, $48MM extension on Tuesday before acquiring defenseman K’Andre Miller from the Rangers in a sign-and-trade, taking him on with an eight-year, $60MM commitment – the largest contract signed since the market opened (Mitch Marner’s eight-year, $96MM contract was registered on June 30).

While not the bona fide No. 1 winger Carolina’s been searching for, he is a legitimate top-line threat that adds another layer of depth to one of the league’s more balanced offensive attacks. He fits the Hurricanes’ model of being one of the league’s strongest possession teams. Not once has Ehlers ever posted a shot share or expected goals share below 50% at even strength in his career, and he had a remarkably strong 4.9% relative Corsi share over his time in Winnipeg.

Even after registering Ehlers’ contract, the Hurricanes have plenty of flexibility to work with if they want to pursue additional signings or trade acquisitions. They’re still left with $10.64MM in cap space, per PuckPedia, and are equipped with four first-round picks in the next three years to leverage in trade talks as they see if they can acquire another top-six piece.

Image courtesy of James Carey Lauder-Imagn Images.

Panthers, MacKenzie Entwistle Agree To Two-Way Deal

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The Panthers and forward MacKenzie Entwistle have agreed to a two-year, two-way deal to keep him in the Florida organization, the team announced. The contract carries a $775K NHL salary and a $450K AHL salary each season, per PuckPedia.

Entwistle initially joined the Cats on a two-way deal last offseason after being non-tendered by the Blackhawks, who drafted him in the third round in 2017. Florida tendered him a qualifying offer earlier this week, making him a restricted free agent.

The deal amounts to a do-over between the 6’3″ winger and the Panthers. Entwistle, who turns 26 later this month, didn’t see NHL ice at all in 2024-25 and was limited by an injury to just seven games with AHL Charlotte, scoring a goal and an assist. He managed to return later in their run to the Calder Cup Final, scoring two goals and an assist in eight playoff games.

A power forward at his core, Entwistle once looked like he could be a full-time NHLer. He may have more seasons ahead of him with top-level games, but he’s topped out as a fourth-line piece at best. He scored 15 goals, 20 assists, and 35 points with a -55 rating in 193 NHL games over four seasons with Chicago, averaging 11:12 per night.

He’ll be destined for waivers again in the fall and, if he clears again, will look to be more effective and healthy for Charlotte. The two-time defending Stanley Cup champions have filled 41 of 50 contract slots for this season.

Rangers Sign Trey Fix-Wolansky To Two-Way Deal

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The Rangers are signing free agent winger Trey Fix-Wolansky to a two-way contract, sources tell Mark Scheig of The Hockey Writers. Fix-Wolansky is listed on the Rangers’ roster on the NHL media site despite the lack of an official announcement. He’ll earn the league minimum of $775K in the NHL, per Vince Z. Mercogliano of USA Today. PuckPedia reports he’ll receive a $450K AHL salary with a $500K guarantee. The team has since confirmed the deal.

Fix-Wolansky, 26, makes the jump to the Rangers organization after spending the last seven years in the Blue Jackets’ system. A seventh-round pick in 2018 from the WHL’s Edmonton Oil Kings, he’s long been an explosive scorer at the junior and AHL levels but has been held back from being a legitimate NHL threat by his 5’7″, 191-lb frame.

The Edmonton native got into NHL action in three straight seasons with Columbus from 2021-22 to 2023-24 but did not see a recall this season after clearing waivers during training camp. He’s totaled four goals and two assists for six points with a minus-six rating in 26 career appearances at the top level, averaging 10:35 per game.

As such, he projects more as an impact addition for the AHL’s Hartford Wolf Pack and isn’t necessarily expected to be a legitimate competitor for an NHL roster spot. The three-time AHL All-Star has 259 points in 289 career minor-league games, including 26 goals and 60 points in 65 games with the Cleveland Monsters last year.

Sharks Sign Dmitry Orlov, Claim Nick Leddy

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The Sharks are signing free agent defenseman Dmitry Orlov to a two-year, $13MM contract, sources tell Pierre LeBrun of TSN and The Athletic. The team has also claimed defenseman Nick Leddy off waivers from the Blues, Sportsnet’s Elliotte Friedman reports.

San Jose has been looking to make a big financial splash over the past few days, at least per season, per David Pagnotta of The Fourth Period. While also serving as additions to a thin defense, Orlov’s $6.5MM cap hit and Leddy’s $4MM cap hit put the Sharks over the $70.6MM salary cap floor in 2025-26.

Orlov, who turns 34 later this month, now cashes in on a short-term, high-AAV contract for the second time in three years. The top free agent of a thin 2023 class landed a two-year, $15.5MM commitment from the Hurricanes that time around, but it was clear there wasn’t a good fit for him to return next season with the emergence of top prospect Alexander Nikishin and the sign-and-trade pickup of K’Andre Miller from the Rangers filling up the left side of Carolina’s defense.

It’s a slight pay cut for Orlov after seeing his minutes dip below the 20-minute mark per game with the Canes – he’d cost $7.75MM against the cap for the last two years. He does land trade protection from the Sharks, though, after going without it in Carolina. PuckPedia reports Orlov received a full no-trade clause in 2025-26 and a 15-team no-trade clause in 2026-27 as part of the deal. In terms of the cash breakdown, Orlov will rake in a $5.4MM base salary and a $2MM signing bonus this year and a $4MM salary with a $1.5MM signing bonus next season. That low salary compared to the actual cap hit in the back half of the deal could make him an appealing trade candidate at that time.

The 5’11” lefty immediately becomes San Jose’s top defenseman. While he wasn’t the everyday top-four threat on an exceedingly deep Carolina defense like he was for most of his earlier career with the Capitals, he’s only a couple of years removed from averaging north of 22 minutes per game and will need to prepare to resume that workload with the Sharks. Over his two-year tenure with the Hurricanes, Orlov averaged six goals, 22 assists, 28 points, and a +10 rating per 82 games while logging 18:36 per night.

Orlov was a consistent 30-point threat with good two-way acumen during his peak in Washington. It remains to be seen if his age will prohibit him from reaching that level again with San Jose, but their excess of cap room and need for veteran defensemen, combined with only a two-year term, makes this a low-risk signing for general manager Mike Grier, despite his cap hit likely coming in north of his market value.

As for Leddy, the Blues placed him on waivers yesterday with one year remaining on his contract at a $4MM cap hit. St. Louis was looking to shed salary and open up roster space after adding 2021 first-rounder Logan Mailloux to their blue line in a trade with the Canadiens, so they exposed Leddy to the wire after failing to agree on a trade to send him elsewhere.

San Jose is now nearly $2MM over the cap floor, so they can’t flip Leddy to another club while remaining cap-compliant unless they retain salary. All three of their retention slots were full last year, but with Brent Burns’ previous contract expiring, they have one open now. The same goes for frequently speculated trade candidate Mario Ferraro ($3.25MM cap hit) and other potential trade chips like righty Vincent Desharnais ($2MM).

Along with Orlov, Leddy could step into a top-four role for San Jose on the left side, although he could also flex over to the right if necessary. The 34-year-old missed most of last season due to injury and only managed five points in 31 games when healthy, but averaged over 22 minutes per game for St. Louis the year prior and had 28 points with a +14 rating.

With the pickups and the still-delicate cap math to stay above the floor, there’s a bit of a log jam on San Jose’s defense. They have eight rearguards on one-way deals for next season – Orlov, Leddy, Ferraro, Desharnais, July 1 signing John Klingberg, Timothy Liljegren, and youngsters Henry Thrun and Shakir Mukhamadullin. None of them are waiver-exempt, and that list doesn’t include unsigned RFA Jack Thompson or top prospect Sam Dickinson. The Sharks likely won’t be willing to waive Thrun or Mukhamadullin, so the Sharks might still be in the market to add a high-salaried forward this summer in order to help facilitate a trade to create more opportunities for Dickinson, Mukhamadullin, Thompson, and Thrun.

Images courtesy of James Guillory-Imagn Images (Orlov) and Walter Tychnowicz-Imagn Images (Leddy).

Canadiens Re-Sign William Trudeau To Two-Way Deal

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After playing out the final season of his entry-level contract in 2024-25, RFA defenseman William Trudeau has re-upped with the Canadiens for another season, the team announced. His two-way deal is worth $775K in the NHL and $90K in the AHL with a $110K guarantee, per PuckPedia.

Trudeau, who was a fourth-round pick by Montreal in 2021, turned pro following his post-draft season with the QMJHL’s Charlottetown Islanders. The 6’1″, 205-lb lefty played out his three-year entry-level contract exclusively with the AHL’s Laval Rocket.

He’s yet to make his NHL debut, and that’s unlikely to change over the course of his fresh two-way commitment. He has 20 goals, 50 assists, and 70 points with a +16 rating in 198 career games for the Rocket, but his 19 points last year were a career low. While a fine two-way threat at the minor-league level, it remains to be seen if he can excel in any given area well enough to make an impact worthy of an NHL call-up.

Like Sean Farrell before him, Trudeau takes a deal that carries a lower NHL salary but a higher guarantee than his qualifying offer would have provided. The 22-year-old will be a restricted free agent again next summer.

With Trudeau signed, only Jakub Dobes and Jayden Struble remain among the unsigned RFAs in Montreal. The club has 40 of the maximum 50 contracts on their books for 2025-26.

Spencer Martin Signs With CSKA Moscow

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Now-former NHL goaltender Spencer Martin has signed a two-year contract with CSKA Moscow, according to a release from the Kontinental Hockey League.

Martin, 30, heads overseas for the first time in his career after spending the last 10 seasons bouncing between the NHL, AHL, and ECHL. Instead of settling for the unenviable life of a third-string netminder in North America, he’ll be the undisputed starter for one of Russia’s premier clubs with Islanders 2024 fourth-rounder Dmitri Gamzin as his backup.

Martin split last season between the Hurricanes and AHL Chicago, his third NHL organization in the last three years. In 31 AHL games in 2024-25, Martin posted a 2.34 GAA, .909 SV%, three shutouts, and a 20-8-2 record. He struggled when called upon for NHL minutes, though, languishing with a .846 SV% and 3.89 GAA in seven starts and two relief appearances.

A third-round pick by the Avalanche in 2013, Martin has also made stops in the Lightning, Canucks, and Blue Jackets organizations in addition to his time in Colorado and Carolina. He has a 24-30-8 record in 66 career NHL appearances, logging a 3.56 GAA and .883 SV%.

Carolina anticipated Martin’s departure and replaced his spot on the depth chart by acquiring and signing netminder Cayden Primeau from the Canadiens. He’ll serve as the No. 3 behind Frederik Andersen and Pyotr Kochetkov in 2025-26.

Hurricanes Re-Sign Tyson Jost, Noel Gunler To Two-Way Contracts

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The Hurricanes have re-signed center Tyson Jost to a two-way contract, according to a team announcement. PuckPedia also reported that RFA winger Noel Gunler has accepted his qualifying offer and will be back with the team on a two-way deal.

Jost was a UFA after spending the 2024-25 season with Carolina on a one-way contract, so there’s a potential for a pay cut if he ends up on waivers and in the minors. His deal pays him a $300K AHL salary with a $600K guarantee.

The 27-year-old spent most of last season as the Canes’ extra forward. He made 39 appearances, his lowest in a season since his six-game trial as a rookie with the Avalanche in 2016-17, and scored four goals and five assists for nine points while averaging 10:22 per game.

The 2016 No. 10 overall pick never reached his top-six potential but remains a valuable depth option with nearly 500 games of NHL experience. However, he’s cleared waivers multiple times successfully in the past few seasons, so it doesn’t look like there’s much risk for Carolina if they try to sneak him back to AHL Chicago at some point. He scored four goals and five assists in 14 games for the minor-league club last season.

Jost’s spot as the extra forward looks safe for now when looking at Carolina’s depth chart, but the team still has plenty of cap space to burn and is in on Nikolaj Ehlers, the top remaining UFA. They could pursue more depth forward signings as well – potentially a return to Raleigh for names like Jack Roslovic or Jeff Skinner, both of whom are still available. If the Canes make multiple forward additions ahead of Jost, he’ll likely be a waiver candidate if everyone is healthy in training camp.

As for Gunler, his QO will pay him a salary of $813,750 if he’s in the NHL next season and $80K in the AHL. The 23-year-old was a second-round pick in 2020 but has yet to make his NHL debut. The 6’2″ winger has spent parts of the last three seasons with AHL Chicago, where he scored 13 goals and 26 points in 58 games last season.

Canadiens Sign Sean Farrell, Marc Del Gaizo To Two-Way Contracts

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The Canadiens have re-signed RFA forward Sean Farrell to a two-way contract and also added Group VI free agent defenseman Marc Del Gaizo on a two-way deal, per a team announcement yesterday. Both are one-year agreements.

Farrell’s deal pays him an NHL salary of $775K and an AHL salary of $90K with a $110K guarantee, per PuckPedia. Del Gaizo’s contract is far richer; PuckPedia reflects he’s landed an AHL salary of $375K with a $450K guarantee.

Farrell, 23, was a fourth-round pick in 2020 out of the USHL’s Chicago Steel. A high-scoring pivot who can flex to the left wing, his size was the main reason he slipped in the draft, checking in at just 5’9″ and 174 lbs. He had an extremely productive two-year run at Harvard, including a spectacular 53-point sophomore season that earned him ECAC Player of the Year honors.

Although Farrell had already represented the United States at multiple senior national tournaments and was coming off a spectacular collegiate season, he hasn’t yet received an NHL opportunity since signing his entry-level contract with Montreal in 2023. In 114 games for AHL Laval over the past two seasons, he has 29 goals, 43 assists, and 72 points with a plus-eight rating.

Farrell could have accepted his qualifying offer, which included a $874,125 NHL salary for 2025-26. That QO only included an $80K minors salary, though, so he’ll take the higher guarantee in exchange for a lower salary if he ends up spending time on the NHL roster. He did break out for 20 goals in 67 games with Laval last year, so there is still a path for the undersized pivot to reach NHL minutes and see if he can convert his elite lower-level offensive production into big-league offense.

Del Gaizo, 25, makes the move to Montreal after spending his first four full professional seasons in the Predators organization. He was a fourth-round pick by Nashville out of UMass in 2019 and has spent most of his time with AHL Milwaukee since turning pro in 2021, although he did spend a slight majority of last season on the NHL roster.

After making his NHL debut in a nine-game call-up in 2023-24, Del Gaizo made 46 appearances for Nashville last year. He was serviceable in bottom-pairing minutes, recording nine points and a minus-three rating while averaging 16:45 per game. The 2021 NCAA championship winner also had an 8-4–12 scoring line with a +10 rating in 30 games with Milwaukee.

While he’s likely worth a shot as someone’s No. 7/8 option, Del Gaizo wasn’t going to get that in Nashville. The Preds were looking to get either bigger or younger on defense, and the 5’11” lefty doesn’t really fit either of those bills as he nears the precipice of his development.

He’ll fight for a spot on Montreal’s roster with names like unsigned RFA Jayden Struble, although if top prospect David Reinbacher earns a spot out of camp, that would presumably box Del Gaizo out of an NHL role with eight defenders ahead of him on the depth chart. Montreal still has 11 contract spots remaining and three unsigned RFAs in Struble, Jakub Dobes, and Willliam Trudeau.

Sharks Re-Sign Pavol Regenda To Two-Way Deal

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The Sharks have re-signed winger Pavol Regenda on a two-way contract, according to a team release.

San Jose acquired Regenda from the Ducks in January in a swap of minor-league forwards, sending Justin Bailey the other way. He didn’t see an NHL recall following the trade or at all this season, for that matter, after getting brief looks with Anaheim in 2022-23 and 2023-24. In 19 games over those two seasons, he scored a goal and two assists while averaging 10:49 per night.

The 25-year-old wasn’t an RFA this summer because he’d accrued enough professional experience for Group VI UFA status while playing less than 80 career NHL games. He could have signed anywhere else – including Europe – but instead returns to the Sharks organization on a deal that pays him $350K in the minors with a $400K guarantee, per PuckPedia.

The 6’4″, 212-lb winger from Slovakia signed with Anaheim as an undrafted free agent in 2022 on the backs of a strong showing at the Olympics and World Championship. Regenda now has three full AHL seasons under his belt and seems content in his minor-league role. He has 45 goals, 55 assists, 100 points, and 189 PIMs in 176 career AHL games, including a good 9-16–25 scoring line in 36 games with the Barracuda after the trade to San Jose.

With younger, higher-ceiling names likely taking priority for a call-up this upcoming season, Regenda should be on track to spend most, if not all, of 2025-26 down with the Barracuda if he clears waivers.

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