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CBA Notes: Minimum Salary, LTIR, Draftees, Salary Retention, Olympics, Neck Guards

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Earlier today, league Commissioner Gary Bettman announced a Memorandum of Understanding between the NHL and NHLPA for a new agreed-upon Collective Bargaining Agreement beginning in the 2026-27 season. New details continue to emerge regarding the new agreement, one of which is regarding minimum salaries.

According to Frank Seravalli of Daily Faceoff, the league minimum salary will jump from $775K in 2025-26 to $1MM in 2029-30. Seravalli didn’t know if there would be a mild year-on-year increase for the minimum salary, just where it would end up by the time the next CBA ends.

Although the NHL hasn’t projected an upper limit of the salary cap for the 2029-30 season, it marks an odd relative dip in payment for league-minimum salaries. Assuming the cap continues to rise at its current pace of 9% each season, the upper limit for the 2029-30 season would be approximately $134.8MM. This means that a $775K salary in 2025-26 would account for 0.8% of a team’s cap hit, while a $1MM salary in 2029-30 would drop to 0.7%.

Other notes from the new CBA:

  • One of the biggest points of contention was the playoff implications of LTIR. The CBA includes a new salary cap for the playoffs. However, according to Seravalli, teams will only benefit from cap savings equal to the previous year’s average salary, rather than the full cap hit of the player. The only exception to this rule is if the player does not participate in the entire Stanley Cup playoffs.
  • Seravalli also pointed out the new draftee signing rules in the upcoming CBA. A team will hold the signing rights for four years on any 18-year-old that they draft tonight, and three years for any 19-year-old selected. Additionally, for those playing in the NCAA, their signing rights will only expire 30 days after they’ve confirmed with their drafting team that they’re no longer playing at the collegiate level.
  • According to TSN’s Pierre LeBrun, the new CBA will mandate a 75-day window of allowable salary retention. In essence, the new rule effectively eliminated three-team trades at the deadline. If a team wants to orchestrate 75% salary retention on any given player, they’ll need to wait nearly 11 weeks to do so.
  • It’s now confirmed that NHL players will be included in the next two Olympic Games. According to TSN’s Chris Johnston, the new CBA includes language allowing the players to participate in the 2030 Winter Olympics in the French Alps region of France.
  • As a new equipment rule, Seravalli announced that the NHL will make neck guards mandatory for any new player entering the league in the 2026-27 season and beyond. The new equipment rule is no doubt inspired by the late Adam Johnson, who tragically lost his life after getting cut in the neck by a skate in an EIHL game during the 2023-24 season.

Bruins Select James Hagens Seventh Overall

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James Hagens is staying in Boston, as the Bruins have selected him with the seventh overall pick. Hagens, 18, put up 11 goals, 26 assists, and 37 points in 37 games last season at Boston College. General manager Don Sweeney and his front office benefit from Hagens sliding slightly down the draft board and keeping him in town. Although Sweeney left open the possibility of trading the No. 7 pick, the team ultimately couldn’t pass on Hagens as they rebuild toward contention.

While many believed at this time last year that Hagens was destined to be the first overall pick in this year’s draft, he slipped to seventh after producing less than expected in the NCAA. Still, Hagens game may be more NHL-ready than any of his peers in this draft class. The Long Island native plays bigger than his 5‑foot‑10, 185‑pound frame and has elite speed and scoring abilities.

In their 2025 NHL Draft Guide, Elite Prospects stated of Hagens:

“Hagens has seemingly been part of the hockey world’s zeitgeist from a young age. A fluid skater who is light on his edges, he leverages full-range wingspan handling, high activity rate crossovers, and a motor to create constant advantages. He layers pucks through tricky seams, hooks and slips feeds around pressure, and improvises on the fly with lightning-quick processing, punching away from threats and funneling play to the inside.” 

For his part, Hagens mentioned he’s glad to stay close to home and won’t have to change area codes.

“I’m so excited to be back in Boston. The Bruins are getting someone who puts his soul and body on the line. I love to win and I’m just so excited to be in Boston,” he said.

Blackhawks Select Anton Frondell Third Overall

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The Chicago Blackhawks have added another high-end forward to their deep cupboard of prospects. With the third overall pick of the 2025 NHL Draft, the Blackhawks selected Anton Frondell from the SHL’s Djurgårdens IF.

There’s a reason Frondell was listed as the top available European skater in this summer’s draft. The 6’1″, 205lbs Swede scored 11 goals and 25 points in 22 games for Djurgårdens IF HockeyAllsvenskan team, with another three goals and seven points in 16 postseason contests.

He shone on the international stage, too. The Trångsund, Sweden native scored one goal and three points in five tournament gams for Sweden’s U18 team at the U18 World Junior Championship this past season. Overall, Frondell was far and away Sweden’s top talent, scoring eight goals and 18 points in 19 international contests.

It’ll be interesting to see if Chicago decides to let Frondell make the jump to North America right away or continue his development overseas in the SHL with Djurgårdens IF, who have recently been promoted. At any rate, the Blackhawks organization and their fans will likely see Frondell participating in the 2025-26 U20 World Junior Championships.

As a natural center, Chicago may have cemented a powerful one-two punch down the middle with Frondell’s selection. Connor Bedard has already carved out his role as the team’s top center moving forward, which would allow Frondell to thrive on the second line or play on Bedard’s wing.

Sharks Select Michael Misa With Second Overall Pick

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The San Jose Sharks have added to their young, talented forward group—already headlined by Macklin Celebrini and Will Smith—by selecting Michael Misa with the second overall pick in the 2025 NHL Draft.

By selecting Misa, the Sharks have arguably added the most offensively gifted player in the draft. Playing for the OHL Saginaw Spirit last season, the speedy Misa put up 62 goals, 72 assists, and 134 points in 65 games. He added two goals and an assist in four playoff games. Listed as a center and left wing, Misa is projected to be an impact first-line center at the NHL level. More than just a flashy offensive performer, Misa also draws positive reviews for his defensive capabilities.

In their 2025 NHL Draft Guide, Elite Prospects stated of Misa:

“Capable of speeding past opponents and drawing complex rush patterns in the neutral zone, Misa finds and creates gaps in neutral zone coverages. He drives east-west, under and over teammates’ routes, slows down and accelerates, and slips pucks under sticks, always keeping defenders on their heels. Away from the puck, he’s constantly relocating from pocket to pocket, reloading to the top of the zone, sprinting behind defenders, and playing between them.”

The Sharks selection of Misa ended weeks of suspense as to who would go second overall. While it was widely expected that defender Matthew Schaefer would go first to the New York Islanders, the Sharks were perceived to have multiple options to go with. In the end, they landed Misa, who adds to one of the best young forward groups in the league.

With that young core set to lead the team moving forward, the Sharks and GM Mike Grier can now turn their attention to free agency, where the team has a league-high $40MM in cap flexibility, per PuckPedia. While the club isn’t expected to be a major player for headline free agents on July 1, they could do well by signing veteran depth to support their young core.

Islanders Select Matthew Schaefer First Overall

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As expected, the New York Islanders have selected defenseman Matthew Schaefer with the first overall pick of the 2025 NHL Draft. Schaefer is the first defenseman chosen first overall since Owen Power in 2021, and only the sixth defenseman to achieve this since the 1992 NHL Draft, when the Ottawa Senators selected Chris Phillips.

Despite playing on the opposite side of the blue line, Schaefer’s presence at the top of the draft order made trading Noah Dobson all the more palatable for the Islanders. They’ll now have a younger defenseman with a higher ceiling, while acquiring additional assets in return.

Still, Schaefer is not your typical first overall selection, and there’s no questioning that the Islanders are making a gamble. Due to a broken collarbone suffered during the 2024-25 World Junior Championships, Schaefer finished the season with seven goals and 22 points in 17 games with the OHL’s Erie Otters.

Having that level of injury concern is never ideal entering your draft year, but a collarbone fracture shouldn’t carry any long-term issues. His talent speaks for itself, and that’s the exact reason he was chosen as this summer’s top selection.

Due to his lack of playing time throughout the 2024-25 season, Schaefer becomes an exercise in scouting raw talent for the NHL level. Without any shadow of a doubt, he has the capabilities to become a top-pairing defenseman long term.

In their 2025 NHL Draft Guide, Elite Prospects broke down Schaefer’s talent perfectly, saying:

“Schaefer controls games from the back end, making the play flow through him. An elite puck-rusher, he takes off from behind his net, using it as a shield against the forecheck, and traverses the defensive zone with a few long strides. He spots teammates in every direction, making both one-touch plays and elaborate, deceptive feeds. Attacking down, he grabs the spotlight and draws opponents to him, before turning and relaying the puck across.“

Sabres Sign Jack Quinn To Two-Year Extension

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5:50 p.m.: Quinn’s deal will pay him $3.25MM in 2025-26 and $3.5MM in 2026-27 – all in base salary, according to PuckPedia. That means he has a $3.5MM qualifying offer due in 2027.

4:01 p.m.: The Buffalo Sabres have announced that winger Jack Quinn signed a two-year, $6.75MM extension with the club. Quinn was set to become a restricted free agent this summer. His new deal will carry an annual average value of $3.375MM.

Quinn will opt for the short-term bridge deal in his first free agent contract negotiations. He is coming off of his entry-level contract – a three-year, $5.3MM deal signed in the delay prior to the shortened 2021 season. Quinn played through the first 15 AHL games of his career that season and posted a stout nine points. He returned for a full season in the minors in 2021-22 and scored an impressive 26 goals and 61 points in just 45 games. His 1.36 points-per-game that season ranked third among AHLers with more than 15 games played, and earned Quinn the AHL Red Garrett Memorial ’Rookie of the Year’ Award.

The Sabres granted Quinn his NHL rookie season on the heels of his AHL breakout, and his impactful presence quickly translated. He scored 14 goals and 37 points in 75 games of the 2022-23 season, seventh-most among rookies that season. It was a hardy rookie year that ended with Quinn earning routine looks in Buffalo’s top-six. But his encore performance in 2023-24 failed to continue his hot run. Instead, he didn’t make his season debut until January after suffering an Achilles tendon injury that required surgery during the off-season. He scored a promising 19 points in 27 games – a 57-point pace across 82 games – when he did return, but the injury still left fans questioning.

Quinn bounced back to form and good health this season, but didn’t find the breakout some fans expected. He scored 15 goals and 39 points in 74 games – good for a new career-high but well short of the 50-point upside he flashed during his injured year. The fluctuation will likely earn Quinn a short-term bet on his next contract. He’ll now have a chance to prove his goal-scoring upside at the NHL level and earn a hardy payday in 2027 because of it. If he can’t, the Sabres will have an opportunity to get out from under a player who’s already borne through multiple injuries in his hockey career. Quinn is among the highest upside bets on the Sabres roster and boasts an impressive 97 points in 178 career games at the age of 23. He’ll be a player to watch closely on his new deal.

Trade Notes: Dobson, Marner, Karlsson, McBain

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The opening day of the 2025 NHL Draft got off to a quick start earlier today when the New York Islanders traded defenseman Noah Dobson to the Montreal Canadiens for Emil Heineman and a pair of first-round picks. If the Islanders’ old General Manager, Lou Lamoriello, had it his way, Dobson would have already been wearing a different Canadian team’s uniform.

According to Arthur Staple, formerly of The Athletic, Lamoriello attempted to package Dobson with other pieces at last season’s trade deadline to acquire forward Mitch Marner from the Toronto Maple Leafs. Ultimately, likely due to Toronto’s disapproval at the time, no trade materialized between the two teams.

It stands to reason that the Islanders may have known Dobson was out of their price range on a long-term extension for some time, and the new administration faced similar issues as the last. At any rate, the Islanders now have approximately $21MM in cap space entering the offseason without a big-ticket extension on their horizon.

Other trade notes:

  • It’s a well-known fact that the Vegas Golden Knights are looking to trim their salary cap table so they can put together a legitimate pursuit for Marner. Still, it doesn’t appear that long-time forward William Karlsson will be a part of that exodus, as David Pagnotta of The Fourth Period reported that there’s little activity on the Karlsson trade front. The 11-year veteran is coming off an injury-riddled season and has two years left until he reaches unrestricted free agency, making him a difficult sell to other organizations.
  • According to Josh Yohe of The Athletic, the Pittsburgh Penguins are looking to capitalize on the lack of progress in contract negotiations between the Utah Mammoth and forward Jack McBain. Yohe indicated that McBain would be an ideal fit for the Penguins’ hole at third-line center, and his physicality and tertiary scoring ability are of great intrigue to General Manager Kyle Dubas.

Austin Market Interested In NHL Expansion Franchise

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The Austin, Texas market is among those interested in joining the next round of National Hockey League expansion, reports Frank Seravalli of Daily Faceoff.

The NHL recently began cautiously expanding beyond the 30-team norm it had maintained for most of the 2020s, following a 17-year hiatus since the introduction of the Blue Jackets and Wild into the league. Most anticipated that the recent additions of the Golden Knights (2017) and the Kraken (2021) would be enough to satiate new markets for a while.

Skyrocketing franchise valuations have more than tripled prospective expansion fees, to the point where the league has informed interested parties that they’re commanding a $2B payment for a 33rd franchise, per Seravalli. That’s four times more than the $500K Vegas paid for entry and a much more aggressive increase than the Kraken faced at a $650K expansion fee.

The league has already had early success venturing into a new market with the cobbled-together relocation and sale of the Arizona Coyotes, which has become the franchise now known as the Utah Mammoth. There has also been considerable public interest from an Atlanta-based group to become the NHL’s 33rd team, with the group requesting a formal expansion process last year. A second Atlanta-based group, led by Vernon Krause, is further ahead in the effort to bring the league back to Georgia and recently cleared a significant hurdle in building a new arena in Forsyth County.

An expansion into the Eastern Conference in Atlanta would presumably be coupled in near succession with a Western Conference market. That’s where Austin could come in, particularly if the Phoenix/Arizona market continues to struggle with constructing an NHL-ready arena to entice the league to return there. The league has remained adamant that it won’t actively solicit expansion bids or open a formal expansion process and is under no pressure to add teams. Still, it will consider compelling applications sent its way.

According to Seravalli, the league informed the Board of Governors this week that it has received legitimate expressions of interest from five markets: Atlanta, Austin, Houston, Indianapolis, and New Orleans. For Canadian fans hoping for an eighth NHL team north of the border, it still doesn’t appear that’s in the cards anytime soon.

Panthers Sign Sam Bennett To Eight-Year Extension

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The Florida Panthers have signed reigning Conn Smythe Trophy winner Sam Bennett to an eight-year, $64MM contract extension, per Tim Reynolds of the Associated Press. The move was later confirmed by the Panthers. It will carry an annual-average-value of $8MM and carry Bennett through his age-37 season. The contract will also carry a no-movement clause through the first five years, and a no-trade clause through the final three years, per Sportsnet’s Elliotte Friedman.

After a postseason full of speculation as to where he’d land next, Bennett will stand by his word and re-sign with the Panthers. The deal clocks in at a cheaper price than many speculated he could receive on the open market, especially after leading the playoffs with 15 goals in 23 games. No other player scored more than 11 goals. Bennett was ferocious through every single game in Florida’s run to a second consecutive Stanley Cup win. Serving as the team’s top-line left-wing, Bennett earned 22 points in summer hockey, with many coming on the back of relentless play around the opponent’s net.

The postseason performance was the culmination of what many knew Bennett was capable of. He’s long served as an imposing, aggressive presence in the offensive end – capable of racking up just as many penalty minutes as he does points. He scored 14 points in 19 games of Florida’s Stanley Cup win last season, after netting 41 points and 100 penalty minutes during the regular season. That marked Bennett’s third-straight season reaching at least 40 points – a streak he maintained this season by posting a career-high 51 points in 76 games. He added 90 penalty minutes and a minus-15 to that stat line.

Bennett has now scored 20 goals and 40 points in three of the last four seasons. His only miss – the 2022-23 campaign – saw him net 16 goals and 40 points in just 63 games. He’s proven incredibly reliable ever since joining the Panthers via trade in the 2020-21 season. Florida acquired him from the Calgary Flames in exchange for Emil Heineman and a second-round pick ultimately used by Seattle to select David Goyette. Heineman was traded earlier today in Montreal’s acquisition of Noah Dobson.

Bennett scored 15 points in his first 10 games with the Panthers following his trade. In the years since, he’s combined for 95 goals and 196 points in 289 games – the fifth most on the Panthers behind Aleksander Barkov (332), Sam Reinhart (324), Carter Verhaeghe (254), and Matthew Tkachuk (254). Bennett has also totaled 59 points in 77 playoff games in Florida, fourth on the team behind Verhaeghe (76), Barkov (74), and Tkachuk (69).

This deal will likely carry Bennett through the end of his career in a Florida Panthers jersey. The Holland Landing, Ontario native originally began his NHL career with the Calgary Flames, who selected him fourth-overall in the 2014 NHL Draft. Bennett played through his rookie NHL season in the 2015-16 campaign and earned a hardy 18 goals and 36 points in 77 games. His stout performance was drowned out by a loaded 2015-16 rookie class – headlined by Artemi Panarin, Jack Eichel, and Connor McDavid. But Bennett showed he could do more than just score with a lofty 75 penalty minutes in 81 games of his sophomore season. With that performance, he fell into the rut of bruising middle-six center in Calgary – a role he would stick in until moving to the Panthers.

Florida has brought out the best of the best in Bennett, and been rewarded two Stanley Cups for their efforts. The 2024-25 season was undoubtedly the best in the 29-year-old’s NHL career – and interestingly ended with him serving as a utility tool more than a set-in center. Florida could expand that role as Bennett enters his 30s, especially with a measly 46.4 faceoff percentage over the last five seasons. Having a Swiss-army-knife locked up for the foreseeable future will be an invaluable piece for the Panthers, as they look to maintain their top-of-the-league presence for as long as possible.

Photo courtesy of Kim Klement-USA TODAY Sports

What Do The Golden Knights Have Planned This Summer?

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The Vegas Golden Knights quietly exited the playoffs this year in the second round and didn’t make many waves around the NHL off the ice either. The traditionally flashy franchise has made a habit of making big splashes during summers and trade deadlines, but has been quiet for the last 12 months.

Vegas spent most of the past year re-signing current players to long-term deals, bringing in veteran depth players, and making a few smaller trades. It’s been very un-Vegas-like for a team that routinely acquires the most desirable players available, contrasting sharply with how they built the 2023 Stanley Cup Championship roster.

The Knights also have significant needs; they need help on the wing, preferably a winger with some speed. They are also in desperate need of a right-shot defenseman, as well as a backup goaltender, although that is a lower priority. Given all of that, it certainly feels as though something significant is brewing in Vegas, and this could be another summer where they make some major headlines.

This assumption is based solely on gut instinct and recent history, and it does not account for the complex challenges that Vegas is likely to face if it wants to make significant moves this summer. The Golden Knights have a very weak prospect pipeline and were ranked 22nd in the NHL back in January of this year when Scott Wheeler of The Athletic conducted his rankings. It also does not reflect their salary cap situation, which has them with only $5.615MM in cap space and four players to sign (as per PuckPedia).

Nor does it consider their lack of desirable draft capital, as Vegas will go without their first-round draft pick in the subsequent two NHL Entry Drafts. Therefore, their room for improvement is severely limited, and they are heading towards some leaner years soon, which suggests they will need to go all in very soon. This situation resembles those that long-time contenders have faced before. Both Pittsburgh and Chicago have exhausted their resources in pursuit of multiple Stanley Cups, as has Tampa Bay, which is nearing the end of its window and has been aggressive every year for the past five years.

The Golden Knights have been linked to top free agent forward Mitch Marner in the past, but they would face significant obstacles trying to sign him this summer. Marner earned just under $11MM last season, and it is doubtful he will take a pay cut this summer, which would remove Vegas from the conversation as currently constructed. However, Vegas has always seemed to find a way to get their man, bringing in players like Jack Eichel, Mark Stone, Tomas Hertl, and Noah Hanifin through trades and acquiring Alex Pietrangelo in free agency.

At the time of those transactions, they had room or were able to create space through salary cap maneuvers. With Marner, though, it would be another level of difficulty to fit him under the cap, requiring Vegas to shed multiple contracts and then fill their roster with players making the league minimum. Vegas likes Marner; however, the numbers don’t lie, and signing him would be extremely difficult, not impossible, but very challenging. While they do need a top-six forward, the cost on Marner could prevent Vegas from getting involved.

Vegas could try trading salary cap space to make room for a Marner-type signing. Still, much of their depth is already on reasonable contracts, and they might be sacrificing value by overpaying in free agency. William Karlsson could be a candidate for a trade, as he has two more years remaining on his deal at $5.9MM per season. However, he is an original Golden Knight and has a modified no-trade clause (10-team no-trade list). Trading the 32-year-old would free up cap space but would also create a roster gap that would need to be filled with cheaper depth.

The same logic applies to trading forward Nicolas Roy. Sure, he earns $3MM annually, but his contract offers good value, and trading him would only create another hole that’s hard to fill. Roy has two years remaining on his deal and has scored over 30 points in each of the last four seasons, consistently providing Vegas with value that’s tough to replace.

All of this is to say that Marner is probably not in the cards for Vegas. I would never bet definitively against the Golden Knights, given their track record of pulling rabbits out of their hat, but this one would be their biggest trick yet. However, Vegas could still land a big name through free agency, and that player is Nikolaj Ehlers, who would be a perfect fit for what Vegas needs on the wing.

Ehlers still has good speed and high hockey IQ, which would fit in nicely with the Golden Knights’ forward group. Ehlers is likely gone from Winnipeg, but his market will be robust, which could take Vegas out of the running unless they can find a way to move out some salary.

So, how exactly could the Golden Knights move out some salary? Well, there is only one actual seller on the market right now, and that appears to be the Pittsburgh Penguins. Now, you might ask, why would the Penguins take on salary from Vegas? The answer is simple: they’ve done it before on multiple occasions.

The issue for Vegas is that they don’t really have any terrible contracts on their roster, and certainly none that they would pay a team like Pittsburgh to take off their hands. Vegas could move any contract on their books if they wanted to, and might have to make that difficult decision if they’re going to make changes.

Now, looping back to Pittsburgh, the Penguins have been linked to Vegas defenseman Nicolas Hague, who is an RFA and is projected to earn $2.6MM on a two-year deal this summer (per AFP Analytics). His salary isn’t included in Vegas’s salary cap projections at this point, so simply trading Hague doesn’t resolve the Golden Knights’ cap issue for next year.

However, Hague could be moved for an asset or two, which could then be used in a bigger deal. Alternatively, suppose Vegas is looking for a right-shot defenceman. In that case, they might consider Penguins veteran Erik Karlsson, who is definitely on the trade block this summer and could come relatively cheaply for the Golden Knights, with his salary retained by the Penguins.

Shayna Goldman of The Athletic recently wrote about Karlsson, loosely linking the defenseman to the Golden Knights and citing the situation surrounding Vegas defenseman Pietrangelo and his injury. It is not yet known whether the Golden Knights will place the 35-year-old on LTIR, which would significantly alter the direction of their summer spending.

All of these options are likely on the table for Vegas, which can’t be happy with its early playoff exit and needs a bit of a facelift as it nears the end of its contention window.

Photo by Jeff Curry-USA TODAY Sports

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