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Pro Hockey Rumors Originals

PHR Mailbag: Wild, Sharks, Third Lines, Goaltending Moves, Draft

October 26, 2025 at 10:00 pm CDT | by Brian La Rose 2 Comments

Topics in this edition of the PHR Mailbag include San Jose’s rebuild, speculating about teams that could make a goalie move, and more.  If your question doesn’t appear here, check back in last weekend’s column.

Zakis: How does the Wild figure out 5-on-5 scoring?

A lot of it is just going to be patience.  They’ve been hovering around a shooting percentage of five at full strength this season.  That’s bound to improve on its own as even bad teams are closer to seven at the end of a year.

There are a couple of ways to improve scoring at five-on-five and neither of them are easy.  The first is upgrading their playmaking, especially down the middle.  GM Bill Guerin has been trying to do that for years without much success.  (He’s hardly the only one who has struggled in this regard either.)  That’s going to be tough to do in-season.

The other is play with more tempo and try to generate more odd-man rush chances.  The problem is that Minnesota isn’t particularly young and a lot of their veterans aren’t known as high-end skaters.  Beyond Kirill Kaprizov’s line, they’re built to play a little slower.  That might work in the playoffs when the checking and whistles are tighter but in the regular season, it’s bit trickier.  Ideally, prospects like Danila Yurov and Liam Ohgren playing their way into bigger roles would help but that, again, takes patience.  But in terms of short-term fixes, I don’t see a viable way for them to significantly change their fortunes on that front and that’s why they’re going to be viewed as more of a bubble team than a contender.

PyramidHeadcrab: It’s looking like Sharks fans are going to have to strap in for another rough season.

We know the Sharks have been building top-shelf assets (Celebrini, Askarov, Misa, Graf, et al), but how long do complete rebuilds like this typically last?

In watching their first few games, I am seeing a team that is completely disorganized, with players being consistently out of position – Celebrini making a tremendous play with no one in position to receive a pass, for instance. There’s the cliche of “veterans mentioning The Youth™” but experienced players like Klingberg, Kurashev, and Goodrow are consistently playing poorly.

At what point do you know if the plan is working, and when do the stars typically align for a team like this to turn the corner on being successful?

And as a brief addendum – the lack of a net-crashing power forward to kite attention from the opposing D is glaring; is there anyone in the Sharks system that could fill this role eventually? Are there any top prospects for the ’26 draft that could fit this bill?

There aren’t a lot of examples of the ‘burn it to the ground and build back slowly’ rebuild to compare to here.  These types of undertakings haven’t gained a lot of popularity until the last decade or so.  Sure, there have been rebuilds with an eye on them taking a few years but few have been to quite this extent.

The best option I can think of is the one that’s still ongoing in Utah.  I remember reading something a few years ago about how long he envisioned his rebuild being and it was something like eight or ten years for the full process to take place.  He mentioned last year in an interview with KSL Sports (video link) that competing for a playoff spot in the fifth season was a realistic target.

So, where are the Sharks in this?  While they’ve missed the postseason in six straight years, it was really only the 2023-24 season where they got serious about it.  Erik Karlsson went that offseason, Tomas Hertl at the deadline, and some youngsters (William Eklund and Fabian Zetterlund) got big minutes.  You could argue 2022-23 was the start when Timo Meier moved but that was done late in the year.  Basically, they’re around the halfway mark before that ‘playoffs in five years’ goal.  With the pieces they’re collecting, I think they’re on the right track and I could see them getting there at the back end of that timeframe.

As I’ve noted before, scouting is not my forte so I could be wrong on this but from what I have seen with some of their top prospects, I don’t really see someone who can be that type of player, at least consistently.  Looking at the top of this year’s class, Ethan Belchetz might fit the bill but as is always the case with power forward prospects, there’s a difference between being that type of player in junior versus being that type of player in the NHL.

At this point of the rebuild, the focus is asset acquisition and getting as many pieces in place as possible.  Once that first wave of prospects is established, then they could start to get a little pickier or use some later-round picks on more aggressive boom/bust selections to try to find a certain type of player that they lack in their system.  I’d say they’re getting closer to that part and it wouldn’t shock me to see them try to address that.

PyramidHeadcrab: I’m legitimately confused at how Barclay Goodrow hasn’t been bought out yet. The only way that makes sense is a) it’s a verbal promise to be like, “sorry for screwing you over”, or b) they REALLY want to keep those retention slots open.

But in that case, why not bury him in the A and just eat the contract? Like it’s a real head-scratcher for me.

I don’t think it’s the first option.  While San Jose is likely operating with some respect befitting a longer-term veteran, if they felt they had to get him off the roster, they’d probably do it.  There might be a bit of validity to Option B.  They only have one salary retention slot available to them.  That’s not just for this season but 2026-27 as well with Karlsson signed until then.  The other one doesn’t unlock until after the 2029-30 campaign.  Adding Goodrow – who is also signed through 2026-27 – to the mix means they’re out of retention options until July 2027.  That’s not ideal.  I’d be saving that one for the trade deadline, potentially for Alexander Wennberg to maximize the return for him.

When the Sharks orchestrated the waiver claim situation to ensure they got him around 15 months ago, they knew (or reasonably ought to have known) that his best on-ice days were behind him.  I don’t think they brought him in thinking that he’d give the bottom six a big boost (mind you, they were probably hoping he’d be at least a little better than this).  I suspect he was viewed as more of a character addition.  In essence, that cliched mentoring idea you mentioned in the initial question.

If they think they need a roster spot, he’s someone who would safely clear waivers if it came to that.  He’d still probably come back after the trade deadline when there isn’t a roster maximum though.  This could be something they look at in the summer though.  They wouldn’t save a ton of money on a buyout since a decent chunk of his salary is in a signing bonus but if he’s done all he can do for them, I could see them buying him out to give him a chance to try to catch on elsewhere, likely for the league minimum.  But for now, I expect he’ll stay up for the rest of the season.

frozenaquatic: Thanks again for putting these together! The last six Cup winners have had depth in common, running out four lines that grind down opponents. I know bottom sixes are deployed differently (and also are more easily shuffled–though the best bottom sixes have chemistry and identity), but they’re usually a combo of grit and timely tertiary scoring. In your view, who has the most effective 3rd line in the league to start 2025? What’s the worst 3rd line on a supposed contender? Would you say Taylor Hall’s 4th line is the best? Who has the weakest 4th line?

Speaking of how quickly lines can be shuffled, Hall now finds himself in the top six in Carolina so he’s technically out of the equation for now.  And best is in the eye of the beholder.  If you’re looking squarely at results, the answer could be one way.  If you’re looking at overall effectiveness (or maybe trying to quantify it using Expected Goals), it’s going to be a different answer.

Colorado’s third line is a bit of an odd mishmash of players but it seems to be working.  Ross Colton has been there for a while now while Jack Drury came in early last season.  They both have some defensive skills but their linemate, Victor Olofsson, is more of an offense-only player, making the trio a bit of an odd combination.  However, it has worked early on with a 64.5 Expected Goals Percentage, per MoneyPuck despite close to a 50/50 split in zone starts.  They’re not scoring much but they’re not getting scored on either.  That’s a quietly effective line.  On the flip side, Nashville’s third line of Michael Bunting, Erik Haula, and Jonathan Marchessault looks quite good on paper but is struggling considerably defensively with the lowest xGF% of any line with at least 45 minutes of time together so far.

Fourth lines are a lot harder to quantify as they often change from one game to the next between injuries and line shuffling.  As a result, there are very few who have played together enough to glean any sort of meaningful information from.  For context, if I use that 45 minutes played as a cutoff, it looks like there are only three lines that would even qualify.  That’s not enough to really be able to accurately answer that question this early in the season.

ljfranker: What are some goaltending changes you expect to see this season?

History suggests that we won’t see too many changes as goalies don’t move in-season anywhere near the extent that skaters do.  I doubt this year will be much of an exception.  But that’s not an exciting answer so I’ll give you a few things I could see happening, just that the odds of all of them happening are low.

Oilers: At some point, Connor Ingram works his way onto Edmonton’s roster, likely at the expense of Calvin Pickard.  I thought his acquisition from Utah was a great move, especially for the low, low price of absolutely nothing (future considerations) despite there being salary retention.  I think he can raise the floor of their goaltending and if all went well, push Stuart Skinner.  With the Oilers not having a lot of wiggle room to try to improve their roster, this is one thing I expect them to do.

Sabres: Their claiming of Colten Ellis came as a surprise given the depth that they have and that Devon Levi is still viewed as part of their long-term plans.  If they’re pleased with what Ellis is showing in practice, Alex Lyon could become expendable.  At $1.5MM per season through 2026-27, he’d be an affordable dart throw for a team to take, especially one that gets hit with a longer-term injury.

Bargain Hunters: While it’s early, the gamble Ottawa made going with Leevi Merilainen isn’t exactly confidence-inspiring and Mads Sogaard may have plateaued.  For a team with playoff aspirations, they can’t afford to stick that out if Merilainen keeps struggling while Linus Ullmark doesn’t typically carry a huge workload.  I think they’ll be looking around at options soon.  We’ve seen speculation of Calgary sniffing around the market and that they might not trust Devin Cooley to be a full-time NHL backup so they’ll probably keep doing that.  I also wonder about Florida.  If Daniil Tarasov winds up being more of a mediocre option, I could see them exploring what’s out there.  With the injuries they have, getting a more proven piece to stabilize the backup games could be crucial.

Breakaway: The 2026 draft is supposed deeper and has more high-end talent. Schaefer and Misa were considered the consensus top picks in 2025. If they were coming out this year, would they be the 2nd and 3rd picks or would they fall farther down? After those two, there was a gap in talent, where would the rest of the top five fall if they were coming out in 2026?

One of the challenges with an exercise like this is that what teams hold those draft picks ultimately does a lot to dictate who goes where.  What’s the player type they’re looking for?  It’s not always a case of Best Player Available (or teams have had some very different opinions on BPAs from the consensus top of the class).  But I’ll give it a shot.

Gavin McKenna goes first and there’s probably not much to explain there.  I do think Matthew Schaefer would go second and I’d say that without factoring in his start with the Islanders.  A young 18 for his draft class, he’s a high-ceiling all situations number one defender.  That will always go high.  Keaton Verhoeff could change that with a big year in college (especially as a righty) but failing that, Schaefer lands ahead of him.

For Michael Misa versus Ivar Stenberg, what’s the need?  If it’s a pure shooter (or a team really wants a center), it’s Misa.  If it’s a setup guy, it’s Stenberg.  I’d lean toward Misa myself so he’d be fourth.  I’d have Anton Frondell next at five, then Stenberg at six, assuming his development goes as planned this season.

Then we go back to centers with Caleb Desnoyers (fourth to Utah) and Ryan Roobroeck, draft-eligible this year.  Today, I’d give the nod to Desnoyers but with this season barely underway, that could easily change.

Brady Martin is the ultimate wild card.  Given his power forward style of play, it’s entirely plausible to me that a team could see this combined group and still pick him fifth.  I could also see him fall out of the top ten and it wouldn’t surprise me.  It all comes down to who has the picks and what their team needs are.  Chances are that he’d still sneak into the back of the top ten with that playoff-profile skillset.

Photo courtesy of ……….

NHL PHR Mailbag| Pro Hockey Rumors Originals

2 comments

Salary Cap Deep Dive: Detroit Red Wings

October 21, 2025 at 10:00 pm CDT | by Brian La Rose 4 Comments

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 Atlantic Division, next up are the Red Wings.

Detroit Red Wings

Current Cap Hit: $83,641,833 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Michael Brandsegg-Nygard (three years, $942.5K)
D Simon Edvinsson (one year, $894.1K)
F Emmitt Finnie (three years, $821.7K)
F Marco Kasper (two years, $886.7K)
D Axel Sandin Pellikka (three years, $918.3K)

Potential Bonuses
Brandsegg-Nygard: $500K
Edvinsson: $850K
Kasper: $1MM
Sandin Pellikka: $500K
Total: $2.85MM

Considering the season he had overseas, it was a bit surprising to see Brandsegg-Nygard break camp with Detroit but tying for the league lead in preseason goals and points earned him a spot.  Considering he’s just starting out, it’s too early to forecast another contract but if he wants a long-term second contract, he’ll need to be established as a regular top-six player by the time it expires.  Finnie was another training camp surprise where his preseason efforts earned him a spot.  He’s in the same boat as Brandsegg-Nygard when it comes to his next deal though.

That can’t quite be said for Kasper.  His first full NHL season was a strong one where he was in the top six more often than not.  If he stays on that trajectory, he’s someone who could plausibly bypass a bridge deal.  In this market of escalating salaries, a deal might push into the $7.5MM territory even if he remains more of a second liner at that time.  Meanwhile, a bridge pact would check in with a number likely starting with a four.

Sandin Pellikka is also in his first full year in North America and while many expected he’d at least start the season in AHL Grand Rapids, he also broke camp with the big club.  If he has the type of impact they hope he will (as an offensive top-four defender), he’s someone that they might look to sign to a long-term deal coming off his entry-level pact.  But again, it’s far too early to forecast, given that he’s only a handful of games into his NHL career.

Edvinsson is a different case.  A full-time top-four player in his rookie year, he’s someone who appears to be living up to his lofty draft billing.  GM Steve Yzerman doesn’t dole out a lot of long-term deals but this is a case where it wouldn’t be surprising to see him try to do so.  They did this with another young blueliner recently who we’ll get to later but it wouldn’t be surprising to see them use that price tag as an internal ceiling for an Edvinsson extension.

Signed Through 2025-26, Non-Entry-Level

F Jonatan Berggren ($1.825MM, RFA)
D Jacob Bernard-Docker ($875K, RFA)
D Ben Chiarot ($4.75MM, UFA)
D Erik Gustafsson ($2MM, UFA)
D Travis Hamonic ($1MM, UFA)
D Justin Holl ($3.4MM, UFA)
F Patrick Kane ($3MM, UFA)
G Cam Talbot ($2.5MM, UFA)
F James van Riemsdyk ($1MM, UFA)

Potential Bonuses
Kane: $4MM
van Riemsdyk: $750K
Total: $4.75MM

Once again, it took until the eve of free agency for Kane and the Red Wings to work a deal out.  This one gave him a bit less in guaranteed money by $1MM but added $1.5MM in incentives, giving him a chance at beating his earnings from last season.  He’ll earn $2.5MM of those after just 10 games and another $500K by the time he reaches 50 games so as long as he stays healthy, he’s a $6MM player this season.  In this market, that’s not a bad price tag for a winger who is probably best served as a second-line winger at this point but can move up in a pinch.  While he turns 37 next month, he could plausibly keep playing for another couple of seasons with this type of contractual structure.

Berggren was largely a regular last season after spending most of his sophomore year in the minors but wasn’t able to match his rookie-season numbers, yielding this bridge deal this summer.  He’ll need to establish himself a little higher on the depth chart or he risks becoming a non-tender candidate when he gains arbitration eligibility next summer.  As for van Riemsdyk, he didn’t need a late-summer deal this time around after a decent showing in a depth role with Columbus.  Notably, $500K of his bonuses are playoff-dependent while the other $250K kicks in at 50 GP.  At this point in his career, he’s likely to remain around this price point on one-year deals.

Chiarot’s contract was a surprise three summers ago, both in terms of money and term.  He remains a top-four blueliner for Detroit but is someone who is trending more toward being a fourth or fifth defender given that he’ll be 35 when his next contract begins.  A two-year deal could still be doable but a drop down to a price tag starting with a three looks likely at this point.  Holl has cleared waivers for the second straight year and is in Grand Rapids where his cap charge has dropped to $2.25MM.  If he made half of what he makes now, there might have been a taker for him on waivers.  Accordingly, despite teams passing on him for free now, there still could be enough of a market for him to land around $1.5MM on a one-year prove-it type of contract next summer.

Gustafsson had a so-so first season in Detroit as an offense-first defender, picking up 18 points in 60 games but also struggling defensively.  He lost his roster spot and is now in the minors, carrying a reduced cap charge of $875K.  He’s likely to land closer to half of his current cap charge unless he’s able to come back and be productive.  Hamonic was a depth defender last season in Ottawa and has had a similar role this season.  At 35 and with some heavy lifting in minutes in his prime, he’s unlikely to land much more than this if he gets a contract for next season.  Bernard-Docker also spent most of last season in a depth role with the Senators and is merely looking to establish himself as a full-time player.  He’s arbitration-eligible but unless he’s a regular, he’ll be a non-tender candidate, even if they want to keep him around since he entered the season with 144 games of NHL experience already.

Talbot was brought in via free agency in 2024 to help shore up the goaltending position.  However, he was more of a platoon-level piece than a true starter, resulting in them attempting to shore up that spot this past summer.  Still, this price tag for a serviceable backup at a minimum is pretty reasonable in this market.  He’ll be heading into his age-39 year if he looks to play next season so his next contract, if there is one, should be a one-year pact around this price point.

Signed Through 2026-27

F Mason Appleton ($2.9MM, UFA)
F Andrew Copp ($5.625MM, UFA)
F Alex DeBrincat ($7.875MM, UFA)
G John Gibson ($6.4MM, UFA)
D Albert Johansson ($1.125MM, RFA)
F Elmer Soderblom ($1.125MM, RFA)

While the idea of signing a medium-term deal has grown in popularity around the league lately while looking for a more favorable cap environment next time, DeBrincat was one of the first to do so after being acquired in 2023.  It bought Detroit three extra years of control but allows DeBrincat to hit the open market at 29.  A max-term contract should be achievable for him at that time and given his offensive consistency as a legitimate top-six winger who typically collects between 65 and 70 points most years, he should be in a good position to push past the $10MM mark.  Detroit won’t be able to use an internal ceiling if they want to retain him.

Copp was brought in via free agency in 2022 on the heels of a career year offensively.  He hasn’t been able to match that in Detroit although he brings enough other elements to the table to give them at least a reasonable return.  Still, even in this inflated market, he’ll be hard-pressed to match this price tag if he remains in the 30-point range offensively.  However, another multi-year deal should be doable at least.

Appleton had a quiet contract year in Winnipeg which limited his market this summer.  However, if he can get back to the 30-point range where he was in 2023-24, he could push for something closer to the $4MM range on his next deal.  Soderblom split the last two seasons between Detroit and AHL Grand Rapids, making a low-cost bridge deal this summer a guarantee.  He’ll have arbitration rights two years from now and if he’s a regular in their bottom six, doubling this cost doesn’t seem unreasonable.

Johansson got his first taste of NHL action last season, seeing regular action on the third pairing.  Given the inexperience, a bridge deal was the only play here as well.  Like Soderblom, he’ll have arbitration rights next time out and assuming he remains a regular top-six piece, doubling this price tag (at a minimum) should be doable.

Gibson was much better in Anaheim last season after some tough years but with Lukas Dostal in place as the starter of the present and future, the Ducks opted to move him with Yzerman seeking another short-term upgrade.  If he can get back to being a starting-caliber netminder, the Red Wings will do quite well with what’s left of this contract.  However, if he remains more of a platoon piece, he’ll be a considerable overpayment, albeit one they can easily afford right now.  He might be more in the $5MM range on his next deal, if not a bit lower.

Read more

Signed Through 2027-28

F J.T. Compher ($5.1MM, UFA)
F Michael Rasmussen ($3.2MM, UFA)

Compher was another attempt to bring in some help down the middle.  The first year wasn’t bad but he struggled last season and is off to a quiet start this year.  Right now, this is still top-six money but could become higher-end third-line money by the time the contract is up.  That’s more where he should be so the deal might age a little better compared to now.  Still, given the high demand for centers, he should stay in this price range in 2028.  Rasmussen hasn’t produced to the level befitting a ninth overall pick but he has been a serviceable bottom-six piece in recent years.  Given his physicality, the fact he can play center, and double-digit goal production each year, he’s someone who should still be able to garner a raise despite on his next contract lower point totals overall.  A jump into the $4MM territory should be realistic.

Signed Through 2028-29

None

Signed Through 2029-30 Or Longer

F Dylan Larkin ($8.7MM through 2030-31)
F Lucas Raymond ($8.05MM through 2031-32)
D Moritz Seider ($8.55MM through 2030-31)

After two solid seasons to start his career, Raymond has found another level in the last two, becoming the legitimate top-line threat the Red Wings hoped they were getting when they drafted him fourth overall in 2020.  Detroit was able to bypass the bridge deal, a decision that looks wise now as if he was up for a new deal soon, it’d easily clear the $10MM threshold.  Larkin might not be a prototypical number one center but he’s an all-situations top liner for them.  For the role he’s filling, even though the top-end production isn’t always there, this is still a bit of a below-market contract, one that will look even better a couple of years from now.

It was a bit of a battle last year but Detroit was able to get Seider locked up long-term, though one year less than the maximum term.  That was likely needed to keep the cap charge below Larkin’s and keep their internal cap intact.  Seider is already a legitimate top-pairing defender who plays in all situations and is pretty consistent offensively, collecting at least 40 points per season.  His is another deal that would cost more than $10MM if they were trying to sign it now.  Instead, they’ll have a team-friendly pact for the next half-decade.

Buyouts

F Justin Abdelkader ($1.055MM in 2025-26)

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

$871,150

Detroit also started the season with a $502,836 additional cap charge due to their total 2025-26 bonuses exceeding the 7.5% of the cap maximum.

Best Value: (non-entry-level) Raymond
Worst Value: Copp

Looking Ahead

Projected to finish this season nearly $12MM below the cap ceiling, it’s fair to say that Yzerman has the cap space to take a big swing or two on the trade front if they find themselves in the mix in the second half of the season.  On the other hand, if they’re out of contention, they could be a viable landing spot for a high-priced veteran with the trading team also sending some draft capital Detroit’s way to facilitate the swap.  Either way, they’re in great shape cap-wise this season.

That will continue to be the case for a while.  While players like Edvinsson and ideally Kasper, Sandin Pellikka, and Brandsegg-Nygard play their way into bigger contracts, Detroit has more than $41MM in flexibility for this coming summer and more than $77MM in space for 2027-28.  The cap space is there for them to really be a player in terms of talent acquisition.  The question is, given their long playoff drought, how attractive of a market will they be in spite of that cap room?  If they don’t end that streak, we’ll be finding out soon enough.

Photos courtesy of Eric Hartline and Nick Turchiaro-Imagn Images.

Detroit Red Wings| Salary Cap Deep Dive 2025 Pro Hockey Rumors Originals

4 comments

Salary Cap Deep Dive: Buffalo Sabres

October 13, 2025 at 10:01 pm CDT | by Brian La Rose 16 Comments

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 Atlantic Division, next up are the Sabres.

Buffalo Sabres

Current Cap Hit: $93,341,521 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Zach Benson (one year, $950K)
F Josh Doan (one year, $925K)
F Jiri Kulich (two years, $886.7K)

Potential Bonuses
Benson: $650K

After a strong rookie year in 2023-24, Benson’s sophomore campaign was largely the same.  While he didn’t take a step back in his development, he didn’t really progress either.  While he’s someone the Sabres clearly feel will still be a part of their long-term plans, finding a price point low enough for them to be comfortable with and high enough for Benson to be happy with will be tough.  With that in mind, a short-term bridge deal around the $4MM territory might make the most sense for both sides.  He has three ‘A’ bonuses in his deal and if he stays in their top six all year, he could hit some of those.

Doan was one of the pieces coming to Buffalo in the JJ Peterka trade this offseason.  He held his own in a bottom-six role for the bulk of last season with Utah but that’s not the type of player that typically signs a long-term deal at this point.  A short-term bridge pact makes sense here, potentially in the $3MM area if he has a similar showing this season.  Kulich showed some promise last season despite a relatively limited role.  They’re hoping he can be a top-six center of the future and if it looks like he’ll be there at the end of this deal, a long-term pact could be on the table.  The rate for that could be in the $8MM territory, even if he’s on the second line given the inflation coming to the cap.

Signed Through 2025-26, Non-Entry-Level

D Jacob Bryson ($900K, UFA)
D Michael Kesselring ($1.4MM, RFA)
F Peyton Krebs ($1.45MM, RFA)
F Beck Malenstyn ($1.35MM, UFA)
F Alex Tuch ($4.75MM, UFA)

Tuch’s contract situation is one of the biggest discussion points in Buffalo right now.  He’s a local player who has publicly stated that he wants to re-sign but no agreement has been reached just yet.  Seeing the recent explosion of the winger market, it’s likely that Tuch’s camp is seeking to more than double his current price tag.  He has only passed the point-per-game mark once in his career but with two 36-goal efforts over the last three seasons, he’s still producing enough that he could very well surpass the $10MM mark on his next deal.  If Buffalo continues to struggle, his name will come up in trade speculation quickly so it wouldn’t be surprising to see both sides plug away at this in the coming weeks.

Krebs bounced back last season after a tough 2023-24 campaign but he still hasn’t progressed to being a consistently reliable producer; he has yet to reach 30 points in a single season.  However, given that he plays a premium position and has arbitration rights, he should be able to double this price tag next summer.  Malenstyn wasn’t anywhere near as impactful in his first year with Buffalo compared to his 2023-24 season with Washington.  However, with his physicality, it wouldn’t be shocking to see him pass the $2MM mark next summer, even as a pure fourth liner.

Kesselring was the other part of the return for Peterka and is someone Buffalo likely views as an important building block on the back end.  He hasn’t become a full-time top-four piece yet but as a coveted right-shot defender with arbitration rights, he should be in a position to push for $4MM on a shorter-term deal while a long-term pact would likely run past $5MM per season.  Bryson has been a depth defender for the last few seasons and is likely to remain in that role moving forward.  That should keep him close to the minimum salary for next season and beyond.

Signed Through 2026-27

D Bowen Byram ($6.25MM, UFA)
F Justin Danforth ($1.8MM, UFA)
G Colten Ellis ($775K, RFA)
F/D Mason Geertsen ($775K, UFA)
F Jordan Greenway ($4MM, UFA)
G Alex Lyon ($1.5MM, UFA)
F Jack Quinn ($3.375MM, RFA)
D Conor Timmins ($2.2MM, UFA)
F Jason Zucker ($4.75MM, UFA)

Zucker and Greenway found themselves in similar situations last season, players on expiring contracts who were likely to be moved if they didn’t sign extensions.  Instead, both worked out short-term deals that gave them some stability and kept Buffalo’s long-term options open.  Zucker’s trips through free agency haven’t always proven fruitful but if he stays in the 50-point range the next couple of years, he could land a small raise and a multi-year pact, even as a 35-plus contract.  As for Greenway, he has been the beneficiary of the power forward premium.  When healthy, he struggles to reach 30 points and even staying in the lineup has been a concern.  But given his size, physicality, and defensive acumen, there’s a high enough floor that Buffalo was willing to pay a premium on.  He’ll need to produce a bit more if he wants to beat this by any sort of significant amount.

Quinn wasn’t quite able to live up to offensive expectations last season, resulting in this bridge deal getting signed back in June.  Both sides will be hoping that he will be able to take that step forward and become a legitimate top-six piece.  If that happens, he could plausibly push past $6MM or more two years from now.  Danforth came over from Columbus in free agency as a versatile piece who can move up and down the lineup.  But he will have to find a way to produce more if he is going to have a shot at beating this in his next trip to the open market.  Geertsen hadn’t played in the NHL since 2021-22 before surprisingly making Buffalo’s roster in training camp.  Unless he can establish himself as an every-game player, he’s likely to remain at the minimum salary in the future.

To avoid any risk of an offer sheet, the Sabres filed for arbitration with Byram this summer, setting him up for a two-year deal that took him right to unrestricted free agency.  While they settled before the hearing, they couldn’t get any additional team control, meaning he’ll hit the open market at 26, in the prime of his career.  Given how much salaries have exploded, it’s not out of the realm of possibility that he pushes for a deal in the $10MM range on a max-term agreement.  Timmins, acquired in a swap of third-pairing defensemen this summer, also managed to avoid arbitration with this deal.  He has shown flashes of offensive upside over the years but has been more of a fifth or sixth option for most of that time.  There’s a fine line to navigate for players in his situation as if he remains a lower-producing piece, the offers two years from now might not get to this level.  But a few more points could propel him past the $3MM mark.

Lyon became a full-time backup goaltender over his two years with Detroit, getting into 74 games overall.  However, his save percentage dipped to .896 last season which hurt his chances of getting a bigger deal this summer.  Still, he did enough to get his biggest guaranteed contract.  At this point of his career, it’s hard to see him moving into that top echelon of backups so while another small raise could be doable, he’s probably not going much higher than that.  Ellis was claimed off waivers and has yet to make his NHL debut.  Buffalo feels he has some upside as evidenced by the claim but when everyone’s healthy, he’s no higher than third on the depth chart.  This doesn’t feel like a situation where he’s going to get a chance to play into a big contract but if he does well in limited action, he could land where Lyon is now.

Signed Through 2027-28

D Ryan Johnson ($775K, RFA)
F Tyson Kozak ($775K, RFA)

Both Johnson and Kozak are on identical three-year deals.  However, with the minimum salary moving to $850K next season and $900K in 2027-28, their cap hits beginning next season should jump to $841.7K.

Kozak made his NHL debut last season, getting into 21 games where he did okay with limited playing time.  He wasn’t a big point producer with Rochester either but the security of a three-year pact with two one-way years was enough to get him to sign.  He’ll need to establish himself as a regular and make a bit of an impact to help his cause for a new deal as if he winds up with minimal production, he’ll become a non-tender candidate to avoid arbitration eligibility.

Johnson, a 2019 first-round pick, has had a limited role so far when he has played, including a 41-game stint in his rookie year.  He also opted for the security of two one-way years while he looks to establish himself as a full-time defender.  Like Kozak, he’ll want to be more established by the end of this deal to avoid being a non-tender candidate to avoid arbitration eligibility.  If he’s a regular third-pairing option by then, Johnson could move up into the $2MM range on a contract.

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Signed Through 2028-29

G Ukko-Pekka Luukkonen ($4.75MM, UFA)
F Ryan McLeod ($5MM, UFA)

The McLeod trade raised some eyebrows with a prominent prospect (Matthew Savoie) going to Edmonton but a bigger role allowed the center to have a breakout year, creating an interesting situation where they had to work out a contract off a platform campaign much better than any other season.  They ultimately settled on this spot, one that bought two years of UFA eligibility and gave him lower-end second-line money.  If he stays in the 50-point range that he reached last year, this will be a bargain but if he goes back to his Edmonton point levels, then it’ll be an overpayment.

The goalie market has seen a lot of inflation lately which has likely affected the value of Luukkonen’s pact.  What seemed like a risky move at the time given that he had just the one strong season now looks like something that has the potential to be a team-friendly deal before long.  If he can help turn around Buffalo’s fortunes by the time this contract expires, he could go past the $7MM mark on his next contract.

Signed Through 2029-30 Or Longer

D Rasmus Dahlin ($11MM through 2031-32)
F Joshua Norris ($7.95MM through 2029-30)
D Owen Power ($8.35MM through 2030-31)
D Mattias Samuelsson ($4.286MM through 2029-30)
F Tage Thompson ($7.143MM through 2029-30)

The Sabres took a risk when they moved Dylan Cozens and his long-term deal to Ottawa last season to take on Norris and his long-term pact to shake up his core group.  The early returns haven’t been great as he has played in four games, suffering long-term injuries in two of them.  When healthy, he’s a legitimate top-six center but staying in the lineup continues to be a challenge and significantly negatively affects his current value.  Thompson, on the other hand, continues to make this contract a team-friendly one.  No, he hasn’t gotten back to the 94-point mark but he had a 44-goal effort last season and is averaging over 70 points per season over the last four years.  This is becoming second-line money and Thompson’s production is very much that of a top-liner.

There was a bit of sticker shock on Dahlin’s deal, one that makes him one of the top-paid defensemen in the NHL.  However, it bought out seven UFA years so the price was going to be high.  Is Dahlin a top-five defender?  At first glance, some might not be inclined to put him there but he’d at least belong in the discussion, especially since he has become one of the top offensive producers from the back end league-wide.  As other veterans get their next contracts in the coming years and we start to see the type of inflation we’ve seen among forwards impact some defensemen, this deal should look much more favorable and provide a fair bit of value for the Sabres.

Power signed what was briefly the highest AAV for a defender coming off an entry-level deal, a mark that has been passed several times since then.  He’s still just 22 and improving so while the contract might be a slight overpayment now, that should change relatively soon.  Meanwhile, Power should still be able to command a max-term contract at a bigger rate when this deal expires in 2031.  Buffalo gave Samuelsson an early extension, hoping that they were buying low on a top-four shutdown defender.  That hasn’t exactly been how things have worked out as he has been more of a secondary player than a core one so far.  But again, as salaries rise, this should get a little better value-wise over time, though not enough to flip this to a team-friendly agreement.

Buyouts

F Jeff Skinner ($4.44MM in 2025-26, $2.44MM from 2026-27 through 2029-30)

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) Thompson
Worst Value: Norris

Looking Ahead

Despite the longest playoff drought in the NHL, the Sabres find themselves pretty tight to the cap to start the season.  They have enough flexibility to withstand a couple of injuries but if that happens, they won’t be far off from being a money-in, money-out team if they’re buying at the trade deadline.  But if things go off the rails again and they sell, they should easily have enough cap space to absorb any of the bonuses that Benson reaches.

Buffalo has a little over $21MM in space for 2026-27.  Tuch could take up half of that while new deals for Benson, Kesselring, and Doan would likely eat up most of the rest.  However, with more than $61MM in room for 2027-28 at the moment, GM Kevyn Adams will have some flexibility to truly shake up the roster at that time, assuming he’s still running the show by then.

Photos courtesy of Brian Bradshaw Sevald and Timothy T. Ludwig-Imagn Images.

Buffalo Sabres| Salary Cap Deep Dive 2025 Pro Hockey Rumors Originals

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Salary Cap Deep Dive: Boston Bruins

October 6, 2025 at 9:59 pm CDT | by Brian La Rose 6 Comments

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 Atlantic Division, first up are the Bruins.

Boston Bruins

Current Cap Hit: $93,323,333 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Fraser Minten (two years, $816.7K)

Minten was brought in last season at the trade deadline as part of the return for Brandon Carlo.  While his ceiling might not be overly high, he’s viewed as a potential third-line middleman and those players can carry some value.  If he can establish himself as a full-timer over the next two seasons, a bridge deal should surpass the $2MM mark while a longer-term pact – if warranted – could run closer to the $5MM territory.  Given that it’s risky to sign lower-scoring players to long-term deals, a bridge deal feels like the most probable outcome at this time.

Signed Through 2025-26, Non-Entry-Level

F Viktor Arvidsson ($4MM, UFA)
F John Beecher ($900K, RFA)
D Jordan Harris ($825K, RFA)
D Andrew Peeke ($2.75MM, UFA)
F Jeffrey Viel ($775K, UFA)

Arvidsson was Boston’s biggest splash of the summer in terms of trying to add some extra scoring help to their roster, acquiring him from Edmonton in what amounted to a cap dump from the Oilers.  Despite that, he’s only a couple of years removed from a 59-point campaign but he has managed just 42 points in 85 games since then.  That’s still respectable production but he’ll need to bounce back a bit if he wants to get a raise next summer.  Otherwise, another short-term contract in this price range should be doable.

Beecher was a regular last season but didn’t produce much, notching just 11 points in 78 games while mostly playing on the fourth line.  That led to this deal, one that came in just above his qualifying offer.  Assuming his role is similar this season, arbitration rights should push him a little past his qualifying offer but it’s likely to be just over the $1MM mark.  Viel has seen very limited NHL action in recent seasons and is likely to remain at or near the minimum moving forward.

Peeke had a decent first full season with the Bruins.  While he wasn’t a full-time top-four player as he was at times in Columbus a few years back, he did spend a bit of time there while stabilizing the third pairing at others.  Right-shot blueliners are hard to come by so even if he stays at this level moving forward, another multi-year deal and an increase into the $3.5MM territory is attainable.  Harris took a cheap contract after being non-tendered by Columbus in June and appears to be their seventh defenseman to start the season.  Given his track record with Montreal in the past, he seems like a strong non-tender candidate for next summer, simply to avoid giving him arbitration rights.  Meanwhile, unless he can play somewhat of a regular role, he’s likely to stay close to the minimum salary as well.

Signed Through 2026-27

F Mikey Eyssimont ($1.45MM, UFA)
F Marat Khusnutdinov ($925K, RFA)
F Sean Kuraly ($1.85MM, UFA)
D Mason Lohrei ($3.2MM, RFA)
F Casey Mittelstadt ($5.8MM, UFA)
F Pavel Zacha ($4.75MM, UFA)

It has been an eventful couple of years for Mittelstadt.  The Sabres decided to move him for Bowen Byram at the 2024 deadline in a swap of younger core pieces.  Colorado then inked him to this deal, feeling he could be their longer-term solution as their second center.  However, he struggled with them, leading to this move to the Bruins back in March.  Still just 26, Mittelstadt is young enough to still potentially be an impact player offensively and has two seasons of more than 55 points under his belt.  If he can get back to even that level, a jump past $7MM per season is reasonable.  However, if his struggles continue, not only will he likely be on the move again within these next couple of years but he’ll also potentially be looking at a dip in salary.

Zacha was the focus of some trade speculation this summer after a dip in production from 59 to 47 points last season.  Still, that’s decent second-line production from a position that’s always in high demand.  Even if 47 is the new range for his output moving forward, Zacha should be in a spot to get a raise past the $5MM mark and a long-term agreement in 2027.  Kuraly is back for a second stint in Boston after signing with them this summer.  He has been a solid fourth liner for most of his career but this price tag provides a reasonable reference point for what his next contract should be; unless he can lock down a bigger role between now and then, it’s going to be hard for him to beat this by any sort of significant margin.

Eyssimont was also brought in via the open market in July with a deal that is his personal best.  A little younger than Kuraly, there could be a bit more earnings upside for him as he only has a couple of full-time NHL seasons under his belt so far.  That said, given that he’s a winger instead of a center, the ceiling for him might check in around the $2MM mark.  Khusnutdinov was brought in from Minnesota last season with Boston hoping that a fresh start could unlock some of the offensive potential he showed in Russia.  He’ll need to show it on this contract as he’s not a prototypical fit in a bottom-six role; if the production doesn’t improve between now and the 2027 offseason, he becomes a non-tender candidate.

Lohrei wound up playing a much bigger role than expected last season due to injuries and showed lots of offensive upside but some defensive warts as well, making a bridge deal like this one the inevitable outcome.  If he can build off that and clean up some of his in-zone concerns, a long-term contract could wind up doubling this price tag.

Signed Through 2027-28

D Henri Jokiharju ($3MM, UFA)
F Mark Kastelic ($1.567MM, UFA)
G Joonas Korpisalo ($3MM, UFA)*

*-Ottawa is paying an additional $1MM per season on Korpisalo’s deal.

Kastelic came to Boston as part of the trade that netted the Sens Linus Ullmark.  He was supposed to simply be a depth fourth liner for the Bruins but wound up playing a few extra minutes per game while being their leading hitter among forwards, earning him this extension in-season.  While this is more than a lot of fourth liners make, the fact he’s a center who wins faceoffs at an above-average clip also helped his value.  That said, given his offensive limitations, there’s going to be cap on his earnings upside that’s pretty close to this.

Jokiharju was added at the trade deadline to see how he might fit in with this group and the early returns were positive enough to land him this contract just before free agency opened.  Still just 26, he has shown flashes of top-four upside but consistency has been an issue.  If he can become a steady 18-20-minute player, he could see a pretty big jump on his next deal, especially as a coveted right-shot player.

After a rough year in Ottawa, Korpisalo was also in the Ullmark trade last year.  His first year with the Bruins was a bit better although his overall numbers were still a little below league average.  Even with the Senators paying down part of his deal, he’s on the pricier side for a backup without above-average play.  He’ll need to turn things around if he’s going to have any shot at a raise on his next contract.

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Signed Through 2028-29

None

Signed Through 2029-30 Or Longer

F Morgan Geekie ($5.5MM through 2030-31)
F Tanner Jeannot ($3.4MM through 2029-30)
F Elias Lindholm ($7.75MM through 2030-31)
D Hampus Lindholm ($6.5MM through 2029-30)
D Charlie McAvoy ($9.5MM through 2029-30)
F David Pastrnak ($11.25MM through 2030-31)
D Nikita Zadorov ($5MM through 2029-30)

When Pastrnak signed this contract two-and-a-half years ago, there was some sticker shock when it came to the AAV.  Yes, he was in the middle of his first 100-point season but was that the outlier or a sign of things to come?  It turns out it was the latter as he has surpassed that mark the last two years as well.  In a cap environment that’s seeing salaries go up quickly, this deal already looks like a team-friendly one, something that should only continue moving forward.  Lindholm (the center), on the other hand?  Not so much.  His first season with the Bruins was tough as his offensive stagnation continued.  While he’s not getting top center money, he’s at least getting high-end number two dollars and 47 points doesn’t qualify for that distinction either.  They’ll be hoping for a bounce-back as if this is his ceiling moving forward, this contract will be an anchor in a hurry.

Geekie had a breakout season in 2024-25, scoring 33 goals after only tallying that many combined over the previous three years.  That made this contract particularly tricky, especially with arbitration rights.  In the end, they settled on a deal that pays him more like a consistent second liner moving forward.  If he stays around the 25-goal territory, they’ll get decent value.  But if his output drops more to his previous numbers, this could be a problematic deal as well.  Jeannot’s deal, on the other hand, looks problematic already.  Despite a tough year in Los Angeles that saw him on the fourth line, Boston ‘won’ the bidding war for his services, thinking that a change of scenery and perhaps a bigger role could help rejuvenate him.  While it’s possible that happens, it’s more likely that he continues on the path he has been on the last couple of years, making this an overpayment both in dollars and term.

McAvoy’s deal also carried some sticker shock when it was signed four years ago.  However, the first two years worked out pretty well although last season was a little tougher.  He wasn’t as impactful as he was the previous two seasons and a long-term shoulder injury sustained at the Four Nations Face-Off ended his year prematurely.  For an all-situations number one defenseman like McAvoy is, the price point is reasonable, especially as salaries start to escalate quicker.  But he will need to get back to the level he was in the first two seasons of this contract for the Bruins to get the type of return they’re hoping he’ll be able to provide.

Lindholm (the blueliner) had a breakout year in his first full season in Boston in 2022-23 but hasn’t come close to that type of offensive production since while he missed 65 games due to injury himself.  He wasn’t signed to be a big point producer though and as long as he’s succeeding in tough defensive matchups and chipping in a bit at the other end, this deal should hold up well.  Zadorov was another of GM Don Sweeney’s big swings last summer that raised some eyebrows.  In Boston’s defense, he played a bigger role with them than he had elsewhere and this price for a top-four defender is defensible on its face.  However, if you’re of the mindset that he’s more of a third-pairing player in an ideal world, then it’s a big overpayment, no matter how much physicality he brings to the table.

It took until the start of last season for Swayman to get this deal, one that has been used as a benchmark for others since then.  However, he responded with his worst performance by a significant margin.  The injuries on the back end certainly didn’t help but it’s fair to say that they’re expecting Swayman to be one of the top goalies in the league.  He’ll need to get back to that level for them to get a good return on this contract.

Buyouts

None

Retained Salary Transactions

D Brandon Carlo ($615K through 2026-27)

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) Zacha
Worst Value: E. Lindholm

Looking Ahead

Boston opens this season with a little more than $2MM in cap space, a reasonable amount but one that might not allow them to bank much in-season flexibility once you account for injuries that will likely creep up over the first few months.  That said, if they wind up being sellers once again, they’re probably not going to be looking to take on money closer to the trade deadline anyway while if they are in the mix, they’ll have to get a little creative to add.

Looking to next summer, the Bruins will have a little less than $20MM at their disposal with Arvidsson and Peeke being the only players of some significance to re-sign.  New deals for them could cost around $8MM, leaving some flexibility to add a piece or two and at least shore up their depth.  However, with over $48MM in space as things stand for 2027-28, that will be the window for Sweeney to potentially take a bigger swing to change up his core group.

Photos courtesy of Bob DeChiara and Sergei Belski-Imagn Images.

Boston Bruins| Salary Cap Deep Dive 2025 Pro Hockey Rumors Originals

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Summer Synopsis: Montreal Canadiens

October 4, 2025 at 4:01 pm CDT | by Brian La Rose 2 Comments

With training camps now upon us, the bulk of the heavy lifting has been done from a roster perspective.  Most unrestricted free agents have found new homes, the arbitration period has come and gone, and the trade market has cooled.  Accordingly, it’s a good time to take a look at what each team has accomplished this offseason.  Next up is a look at Montreal.

The Canadiens were hoping to be in the mix for the playoffs last season and a late-season surge not only allowed them to do that, but it also allowed them to sneak into the postseason, perhaps a little earlier than anticipated.  While they were quickly dispatched by Washington in the opening round, their movement this summer suggests that they’re expecting to take another step forward in their rebuilding process this season.

Draft

2-34 – F Alexander Zharovsky, Ufa (MHL)
3-69 – F Hayden Paupanekis, Kelowna (WHL)
3-81 – D Bryce Pickford, Medicine Hat (WHL)
3-82 – G Arseni Radkov, Tyumen (MHL)
4-113 – F L.J. Mooney, U.S. U18 (NTDP)
5-145 – G Alexis Cournoyer, Cape Breton (QMJHL)
6-177 – D Carlos Handel, Halifax (QMJHL)
6-189 – D Andrew MacNiel, Kitchener (OHL)
7-209 – D Maxon Vig, Cedar Rapids (USHL)

It’s not very often that a team trying to emerge from a rebuild trades two first-round picks instead of adding to its prospect cupboard but the Canadiens did just that, dealing the 16th and 17th selections (forward Victor Eklund and defenseman Kashawn Aitcheson) as part of a draft-day swap that saw them add a top-pairing defenseman, a move we’ll get to shortly.

They also made a pair of moves on the second day of the draft, trading up for their first two selections, including two second-round selections to get Zharovsky.  The winger showed lots of raw offensive skill in Russia’s junior league last season before making his KHL debut in the playoffs.  He’s likely at least a couple of years away from being considered to move to North America but if he develops as planned, he could be a top-six piece down the road.

Paupanekis was the other player they moved up for.  A big center who showed some flashes of offensive upside with a capable defensive game, they’re hoping that he could be a bottom-six option down the road.  Pickford was picked in his second year of eligibility after averaging nearly a point per game in the regular season while adding 24 points in 18 playoff contests.  He’s eligible to turn pro next season and could be an intriguing offense-first blueliner in a few seasons.

The rest of Montreal’s selections qualify as longer-term projects.  Mooney is the headliner from the list, a player whose skill level is pretty high offensively with a ceiling higher than many drafted ahead of him.  However, he’d also be one of the smallest players in the NHL if he makes it which undoubtedly contributed to his drop on draft day but midway through the draft, Montreal felt it was worth the gamble.

Trade Acquisitions

F Zachary Bolduc (from Blues)
D Noah Dobson (from Islanders)
D Gannon Laroque (from Sharks)

The Canadiens swung arguably the biggest trade of the summer to bring Dobson in from New York.  Included in the swap was an eight-year, $76MM sign-and-trade contract, making him the highest-paid skater in franchise history in terms of AAV.  Clearly, Montreal feels that his drop in points to 39 (down from 70 the year before) is something that isn’t going to be continued while they’ll be counting on him to take a step forward in his defensive game as well.  If all goes according to plan, they’ll have a right-shot top-pairing defender locked up through his prime years, checking off a key part of their rebuilding checklist although with Lane Hutson in the fold, he may not get as many prime offensive chances as he did with the Islanders.

Bolduc comes over in a one-for-one swap with St. Louis that saw a pair of 2021 first-round picks get moved for each other.  Bolduc had a strong second half last season, ultimately coming up just short of 20 goals while also bringing a bit of physicality to their bottom six.  Montreal will be expecting him to pick up where he left off and fill a similar role with them this season.  As for Laroque, he was acquired merely as a contract matcher in the swap with the Sharks.  He didn’t play at all last season and wasn’t invited to camp this year, suggesting his playing days are likely done.

UFA Signings

F Alex Belzile (one year, $775K)*
F Sammy Blais (one year, $775K)
D Nathan Clurman (one year, $775K)*
D Marc Del Gaizo (one year, $775K)*
G Kaapo Kahkonen (one year, $1.15MM)
F Joe Veleno (one year, $900K)

*-denotes two-way contract
^-denotes re-signing

As has been the case under GM Kent Hughes, Montreal largely stayed on the sidelines when it came to free agent additions this summer.  Their most expensive signing – Kahkonen – is likely to start in the minors (assuming he clears waivers), a sign of how little they spent here.  Veleno, bought out by Seattle back in June, is someone who should break camp with the Canadiens but is likely ticketed for a limited role to start the year.  Blais is on the borderline for a roster spot while the others are all ticketed for the minors.

RFA Re-Signings

G Jakub Dobes (two years, $1.9MM)
F Sean Farrell (one year, $775K)*
D Jayden Struble (two years, $2.8MM)
D William Trudeau (one year, $775K)*

*-denotes two-way contract

Struble’s first two seasons were nearly mirror images of each other.  There were times when he flashed top-four upside and other stretches where he struggled to simply get in the lineup.  This bridge deal allows both sides more time to see if there’s a full-time spot for him in Montreal while it’s front-loaded, yielding a cheaper qualifying offer two years from now.

Dobes started the season in the minors but a late-December recall saw him get off to quite the start, winning his first five games, including several against some of the better teams in the league.  On the flip side, he struggled more down the stretch and with fewer than 20 games played (including playoffs), he’s still rather inexperienced.  Montreal will be hoping that he can shoulder a bit more of the workload after Sam Montembeault was among the league leaders in games played last season.

Departures

F Joel Armia (signed with Kings, two years, $5MM)
F Alex Barre-Boulet (signed with Avalanche, one year, $775K)*
F Christian Dvorak (signed with Flyers, one year, $5.4MM)
F Brandon Gignac (signed with Kloten, NL)
F Rafael Harvey-Pinard (signed with Penguins, one year, $775K)*
F Emil Heineman (trade with Islanders)
D Noel Hoefenmayer (signed with Sochi, KHL)
G Connor Hughes (signed with Lausanne, NL)
G Gustav Lindstrom (signed with Djurgarden, SHL)
D Logan Mailloux (trade with Blues)
F Michael Pezzetta (signed with Maple Leafs, two years, $1.55MM)
G Cayden Primeau (trade with Hurricanes)
G Carey Price (trade with Sharks)
D David Savard (retirement)
F Xavier Simoneau (NHL rights relinquished but signed AHL deal with Laval)

*-denotes two-way contract

In the NHL, the center market is often a market of its own.  The contract given to Dvorak is a good example of that.  He has yet to record 40 points in a season but his defensive game and faceoff ability coupled with a scarcity of available options yielded this deal, one that agents will undoubtedly be trying to use as a benchmark moving forward.  Armia was another longer-term bottom-six piece in Montreal who is moving on.  While he hasn’t produced enough offensively to live up to his first-round draft selection, he has carved out a viable career as a strong checker.  Filling their roles defensively could be challenging for the Canadiens this season.

Heineman was the other piece in the Dobson swap.  He got off to a strong start in his first full NHL season before being hit by a car in Utah, landing him on IR and upon his return, his production dropped.  Nonetheless, the Isles feel he still has another level to get to.  Still just 23, Heineman has been traded three times now for quality players, Sam Bennett, Tyler Toffoli, and Dobson.  Pezzetta was a regular on the roster for the past few years but played sparingly overall, being healthy scratched more than 50 times.

Savard was another fixture on Montreal’s penalty kill and was eighth in total blocked shots last season.  However, he was struggling as the season went on and knew by the playoffs that he was nearing an end to his playing days.  Dobson is his replacement, though he’ll play a much bigger role overall.  Dobson’s addition also was enough security to part with Mailloux in the Bolduc trade.  Mailloux has shown himself to be a strong offensive defenseman in the minors and even in his brief taste of NHL action.  His defensive game is an area of some concern and the Blues will be hoping to help him take some steps forward on that front as he looks to be a full-time regular for them this season.

With Price entering the final year of his contract and an early-September bonus paid, the Canadiens gave up a fifth-round pick to send him to the Sharks, allowing themselves to get out of LTIR.  He hasn’t played since a five-game stint late in 2021-22 and won’t play again.  Primeau was the backup heading into last season but struggled mightily, leading to his clearing waivers and Dobes coming up.  However, he finished strong in the minors which was enough for Carolina to send a seventh-round pick for him to add to their goalie depth.

Salary Cap Outlook

The Price trade significantly altered Montreal’s cap situation for the upcoming season.  Instead of being several million deep into LTIR and facing a certain bonus overage penalty for the fourth year in a row, they have over $4.5MM in cap space, per PuckPedia.  While they’ll want to keep a significant chunk of that for bonuses (around half of that), that should still allow them to bank ample in-season flexibility to cover injuries and, if they’re in a push for a playoff spot, try to make a late-season addition or two.

Key Questions

What Will Laine Bring To The Table? Patrik Laine’s first season with Montreal was certainly eventful.  He suffered a knee injury in the preseason, causing him to miss nearly two months.  Upon returning, he became a power play dynamo, finishing fourth in the league in power play goals scored with 15 (two off the lead) despite missing 30 games.  However, he only managed five goals at even strength and as the season went on, his playing time and role dropped amid concerns about his five-on-five play.  The end result was a career-low ATOI.  Now healthy, he’s entering a contract year and it feels like he’s a big Wild Card heading into the season.  Can he re-establish himself as a legitimate top-six threat at even strength and position himself for a long-term agreement?  Or will he continue to be primarily a power play gunner, something that would have him staring down a significant dip in pay from his $8.7MM AAV.

How Will They Fill The 2C Role? While Montreal made a big move to add Dobson on the back end, they weren’t successful in adding an impact center, something they and many other teams struck out on.  As a result, they enter the season with largely the same options and questions as before.  Can Kirby Dach stay healthy and take a step forward in his development?  While Alex Newhook has started on the wing two straight years, he has finished down the middle each time.  Can he be a full-time option and push for that spot?  Recently, Oliver Kapanen has seen some preseason action in that role but he has just two assists in 18 games thus far in his early NHL career.  Can one of them step up or will that be a weak spot again this season?

What Type Of Impact Will Demidov Have? The Canadiens were able to get Ivan Demidov out of his KHL contract late in the season, allowing him to get into a couple of regular season games and their five playoff outings, showing flashes of the upside that made him the fifth overall pick just a year ago.  Can he have a similar type of impact as fellow countryman Matvei Michkov and give Montreal a second offensive line, something they’ve been lacking for a while?

Photos courtesy of Wendell Cruz and Timothy T. Ludwig-Imagn Images.

Montreal Canadiens| Summer Synopsis 2025 Pro Hockey Rumors Originals

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PHR Mailbag: Flyers, Toews, Unrestricted Free Agents, Contracts, Blackhawks, Dynasty Picks

September 28, 2025 at 6:44 pm CDT | by Brian La Rose 6 Comments

Topics in this edition of the PHR Mailbag include what type of impact Jonathan Toews might have this season, if shorter-term contracts could become more prevalent moving forward, and more.  If your question doesn’t appear here, check back in last weekend’s mailbag.

Emoney123: What’s the next move for Briere? Collect 2026 draft picks; is there anyone on the roster worth a first-round pick? Flyers hold two first-round picks in 2027 and the new arena is to open in 2030; will the team be winning by then?

They’re running out of veterans to sell, at least not without cutting into the perceived longer-term core group of this roster.  Christian Dvorak won’t fetch a first-round pick but with 50% retention, they can get something for him.  Considering the strong interest in Rasmus Ristolainen in the past, he’s someone I think could move this time and with teams always looking to add players like him, maybe they get a first-rounder if they’re willing to eat half the contract.  Maybe there’s a smaller depth move in there as well but that might be it for pick accumulation.

I think they might be sniffing around buying as well.  Not necessarily in the traditional sense of adding rentals and veterans but looking to buy low on a distressed asset, something along the lines of the Trevor Zegras move.  At some point, you have to emerge from the rebuild with some players capable of making an impact now.  That’s the next step for the Flyers so if there’s a chance to take a flyer on a player or two who might not be fitting in where they are, perhaps they can make a low-key move to get someone who might improve with a change of scenery.  Those are typically more offseason deals but if you’re like me and think there’s going to be a more pronounced race to the bottom of the standings, some of those types of deals could materialize in-season.

I would hope Philadelphia is back to being a playoff team by 2030.  They’re already a few years into this rebuild; if they’re still rebuilding five years from now, it’s probably not going to be Briere at the helm and something will have gone rather wrong.  While it happens periodically, rebuilds aren’t supposed to typically last a decade and at this point, I don’t think the Flyers are in a position to be doing one for quite that long.

Cla23: What type of impact will Toews have in Winnipeg?  Do you think it will be a one-and-done?

I like the Jets landing Jonathan Toews as he’ll add some much-needed depth down the middle.  But I’m not overly optimistic that he’s going to be overly impactful, at least offensively.  He was starting to slow down in terms of production over his final two years in Chicago and while some of that could have been affected by his lingering illness, he’s also now 37, not 33 or 34 as he was in those seasons.  One will likely offset the other.

But Toews has always been well above average at the faceoff dot and while he might be a bit rusty, he should still be on the happy side of 50%.  Winnipeg has finished below 50% as a team in that regard for three straight seasons.  He could be a faceoff specialist for them and late in the season and in the playoffs, that can be a big deal.  I also expect he’ll still be good defensively, though probably not at the level he was when he last played.  That long of a layoff will make a difference.

If Toews can get through this season healthy, my guess is that it wouldn’t be a one-and-done unless he really struggles.  If he can still help a contender, he’ll probably want to do so.  But if he’s in and out of the lineup and banged up or the struggles from the illness return, then the safe assumption is that he’ll hang up his skates, knowing he gave it an honest effort to come back.

frozenaquatic: Most UFAs are 29, and the good ones sign for seven or eight years, bringing them to their age-36 or 37 season, at which point, it’s exceedingly rare (Marchand notwithstanding) for a player to get much more than a one or two-year deal. There’s a lot of smoke these days about players signing NBA-style three or four-year deals on their UFA. Will that make any sense? It’ll be really interesting to see what happens with Panarin given that he’s had an unconventional career, having started so late, and he’s going to be a UFA at 34. Assuming he has a solid year this year, what do you think Panarin’s next deal looks like?

Part of the reason we see NBA players sign shorter-term deals is simply because those are the maximum term lengths of a deal in most cases.  Beyond a small group of players (either designated rookie extensions or veteran re-signings with Bird rights) eligible for five-year deals, four is the maximum so many players opt for that.  (There are also considerations for contracts of a specific length that get them to a specific amount of service time, increasing their maximum cap percentage but I don’t want to get too much into the nitty gritty.)  But that’s why NBA contracts are typically shorter.

Could NHL players follow suit?  Some might in the short term, thinking that another big jump could be coming to the cap.  But UFA-eligible players in your scenario (becoming eligible around 29) would then be setting themselves up to try to get a bigger deal in their age-33 year or so.  That could be tricky.

For most UFA-eligible players, I think the move is either short-term (two years) if you’re trying to set up for a bigger deal when there’s a bigger spending environment or aim for long-term and max out on what you can get now.  But if you’re still in the back end of your RFA eligibility, then a three-year deal or four-year pact becomes a bit more defensible.

With Panarin specifically, there are two options.  A max-term deal is unlikely at his age and even short-term doesn’t make a lot of sense as he’s at the age where a decline could come quickly.  I could see a four-year agreement around $11MM per season, basically close to an extension at where he is now.  Alternatively, if the signing team is a little more cap-strapped, they could tack on a couple of cheaper years which might get the AAV more around the $9MM to $9.5MM territory.  That would buy some short-term flexibility for the signing team but that could be a rough contract on the books over those last couple of years.  It’s a deep UFA market but Panarin still finds himself in good shape, assuming he’s once again the offensive leader for the Rangers.

kodion: Why are teams not more proactive with expiring “superstar” contracts when they get NOTHING in return if deals don’t get done and the guy bails in FA?

They will never get true, or even fair, value if they move them out with a year or less to go and fanbases will beat on management relentlessly, almost regardless of the return, but that would seem to be a better business practice than running the risk of a no-return departure.

I know it’s not as simple as that but what am I missing?

While this isn’t always the case, if you’re a team with a superstar player (or even a high-end one) that’s on an expiring contract, you probably have hopes of making a long playoff run.  As you noted, teams generally aren’t going to get top value for their services.  So, what’s better – salvaging some value for the longer term and hurting your chances of winning now or going for it now with a core group you think can win at the expense of the future?  Most of the time, teams feel the answer will be the latter.

If I’m a general manager, I have a hard time selling to my owner that we need to move a fan favorite top-end piece to get some pieces that should help us later.  That’s going to cost potential playoff revenue and anger a big chunk of the fan base and the dressing room.  That’s probably not going to help my cause for staying as GM, especially if I’m throwing in the towel on being able to sign the player.  That’s why you don’t see it happen too often.

Objectively speaking, you make a very valid point.  In the long run, teams would probably be better off moving out top expiring contracts for some value if they don’t re-sign quickly because, after all, only one team can win the Stanley Cup every year.  But the fear of ‘what if this was our year and I just sunk it by trading a star player’ will almost always put an end to it actually happening.

UncleMike1526: Hypothetical question. Say the Blackhawks show a marked improvement this year and some of the young talent starts to shine. With a boatload of draft picks in a deep 26 draft, name some FA’s or trade targets they could chase for 2026? I know big-time FA’s probably won’t go to a declining team just like last year but with some improvement who should they be chasing? Thanks.

For starters, I don’t see this happening.  I don’t think GM Kyle Davidson does either.  This year will be about getting some prospects some reps so that they can see how close (or far) they are from getting back into the thick of things.

I’ve said before when this question came up that they’re not in a spot to be too choosy.  They need a talent influx to help propel them into the postseason picture.  It could be a center, a winger, or a defenseman.  (I think they’re set in goal for now.)  I don’t think it necessarily matters what the combo is, just that there are upgrades coming.

Objectively, they probably need a couple of wingers and a top-six center up front and at least one top-four defenseman.  Here is the list of pending UFAs, per PuckPedia.  The center and defenseman could be tricky to get if the top guys re-sign or pass on Chicago but there are wingers out there.  I think Alex Tuch would be a perfect fit to play with Connor Bedard, Martin Necas would up their skill, and even someone like Mason Marchment could give them some extra grit in the middle six with some offensive upside.  How realistic those options are remains to be seen but those are some fits I like.

As for trade targets, the same idea applies.  Don’t be picky; if there’s an impact player who can be around for a few years, try to get him.  It’s way too early to start hypothesizing 2026 offseason trades but if there’s a talent upgrade available, Davidson should be looking.  And that applies even if this hypothetical scenario isn’t in place.  Win or lose, next summer is when they should be starting to build back up talent-wise.

Duke II: You’re drafting a Dynasty Team and are looking for future scoring studs; you get three of these forwards + two defensemen. GO!

Lysell, Nikishin, Savoie, Perreault, Snuggerud, Lekkerimaki, Turcotte, Howard, Parekh, Ritchie, Brunicke, and Levshunov.

Forwards: I’ll start with Jimmy Snuggerud.  A strong producer in college, he looks to be well on his way to being a top-six NHL piece, probably relatively quickly even; it wouldn’t shock me if he’s a top-six regular by the end of the season.  I think Gabriel Perreault will get there as well, but not quite as fast.  For the third player, Calum Ritchie might be the safest pick but if you’re swinging for offense, I’d go with Isaac Howard.  If he can work his way into a top-six spot over time he has a chance of playing with Connor McDavid (assuming he re-signs) or Leon Draisaitl.  That would be a nice way to pick up some points.

Defense: Zayne Parekh has a chance to be one of the more impactful offensive defensemen in the NHL if everything goes according to plan.  Granted, his defensive game is part of why he slipped in the draft but if you have the floor of an offensive-minded player who could rack up power play points, that’s generally a good player to have in a pool.  Alexander Nikishin might have to bide his time a little bit in Carolina this season but long-term, there’s a clear path for him to become their go-to player offensively on the back end.  They’re generally a solid team offensively so he has a chance to put up some points with them.

Photo courtesy of Wendell Cruz-Imagn Images.

NHL PHR Mailbag| Pro Hockey Rumors Originals

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Salary Cap Deep Dive: Winnipeg Jets

September 27, 2025 at 4:00 pm CDT | by Brian La Rose Leave a Comment

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 Central Division, last up are the Jets.

Winnipeg Jets

Current Cap Hit: $91,536,190 (below the $95.5MM Upper Limit)

Entry-Level Contracts

None that are projected to be full-time regulars.

Signed Through 2025-26, Non-Entry-Level

G Eric Comrie ($825K, UFA)
F Kyle Connor ($7.143MM, UFA)
F David Gustafsson ($835K, RFA)
D Ville Heinola ($800K, RFA)
F Cole Koepke ($1MM, UFA)
F Adam Lowry ($3.25MM, UFA)
D Colin Miller ($1.5MM, UFA)
F Gustav Nyquist ($3.25MM, UFA)
F Tanner Pearson ($1MM, UFA)
F Cole Perfetti ($3.25MM, RFA)
D Luke Schenn ($2.75MM, UFA)
D Logan Stanley ($1.25MM, UFA)
F Jonathan Toews ($2MM, UFA)

Potential Bonuses
Toews: $5MM

Connor’s pending free agency isn’t generating as much attention as it normally would, it’s just that there are some other big-name players also entering the final year of their respective deals as well.  But Connor is in that high-end tier as well.  In his eight full seasons as an NHLer, only seven players league-wide have scored more goals.  He has two years with more than 90 points over the last four campaigns.  He’s an above-average top-line winger, simple as that.  He has been on a team-friendly deal for a while now and will be for this season but that will change soon.  A long-term pact is likely going to add another $4MM or more per year to his current cost and it’s a price that many teams, not just the Jets, will likely be willing to pay.

Of the trio of players at the $3.25MM mark, one is on the way up, that being Perfetti after his first 50-point season.  Many think he still has another gear to get to and he’ll get a chance to play a bigger role following the departure of Nikolaj Ehlers.  He’s arbitration-eligible for the first time next summer with a $3.5MM qualifying offer.  Assuming that Winnipeg will want to sign him to a long-term deal, it will likely take more than double that amount to get something done.

Lowry has ranged between 34 and 36 points over the last three seasons while bringing a strong defensive game and physicality to the table.  In a perfect world, he’s a solid number three center although his usage was a bit more than that at times last season.  Given that he’ll be 33 when his next deal starts, he may not be able to command too much more on his next deal but pushing past the $4MM mark should be doable.  Nyquist had a career-best 75 points in 2023-24 but tapered off last season, managing just 28, leading to this deal in July.  At 36, he should be going year-to-year from here on out.  A bounce-back could push him past the $4MM mark, especially on a re-signing where Winnipeg often has to pay a bit of a higher rate.

Toews was able to benefit from an early free agency, so to speak.  After not playing in the past two seasons while recovering from illness, he was free to work out a deal before July 1st, making him the focal point of the market for a couple of weeks.  His structure gives Winnipeg a bit of insurance as most of his bonuses are based on games played with some for some playoff success, also dependent on playoff games played.  So, if he struggles and can’t last the full season, they’re not out the full weight of the contract but if he returns and makes an impact, he’ll be one of their higher-paid forwards.  Given his age (37) and recent history, he’s probably going to go year-to-year if he keeps playing beyond this season.

Pearson had to earn a deal of a PTO last season with Vegas and did just that before being a solid depth contributor for the Golden Knights.  At this stage of his career, he’s a depth player who will be going year-to-year but he’ll add some length to a lineup that hasn’t always been the deepest.  Koepke also adds some depth after being a regular on Boston’s fourth line.  With a limited track record at this point (73 of his 99 games came last season), there’s some room for his price tag to jump up still if he can hold down a similar role this year.  Gustafsson has had a limited role in recent years and assuming that remains the case, he’s likely to stay near the minimum salary moving forward.

Schenn was brought in near the trade deadline last season to give the back end a bit more snarl and depth.  He largely played on the third pairing and killed penalties, the role he has had for most of his career.  Given that he’ll be 36 soon, he’s someone who might be on one-year deals moving forward, allowing for a bonus structure that could get the total potential value of the contract close to what it is now.  Miller’s first full year with the Jets was serviceable but his minutes remained rather low for a blueliner.  Even with some offensive skill, if he can’t log 15 minutes a night, he’ll probably be hard-pressed to match this deal next summer.

Stanley has been in the same spot for several years now, a sixth or seventh option on the depth chart who doesn’t play a lot when he’s in the lineup.  Still, given his size (six-foot-seven), there will probably be teams who think they can get him going in a different environment.  Accordingly, he could wind up near the $2MM mark next summer.  Heinola, on the other hand, has seen his stock drop in recent years to the point where he could be a waiver candidate.  He needs to play in 27 games to retain his RFA status, otherwise, he’d be a Group Six UFA.  Unless he can establish himself as an NHL regular, he’s likely to be at or near the minimum moving forward.

Comrie hasn’t had a lot of NHL success outside of Winnipeg but his two best seasons have come with the Jets over two separate stints.  Based on his numbers with this team, a jump past $2.5MM would make sense.  But with his spotty track record elsewhere, he might only be able to land more in the $1.5MM range.

Signed Through 2026-27

F Morgan Barron ($1.85MM, UFA)
D Haydn Fleury ($950K, UFA)
F Vladislav Namestnikov ($3MM, UFA)
F Nino Niederreiter ($4MM, UFA)

Niederreiter isn’t the 50-point player he was a while back but he is still a relatively consistent secondary scorer.  His type of role is a tough one to thread, however, as it’s the middle class that might get squeezed with more money heading toward top talent.  If he stays around 15 goals and around 40 points per season, he should be able to get another contract like this.  However, if the production drops off over the next couple of years, he’ll be 35 and in a spot where overall interest could be limited.

Namestnikov has settled in well with Winnipeg, filling a bit of a ‘Swiss Army’ role where he’s moved around a lot.  The same concern with Niederreiter applies here to a point as well although Namestnikov’s ability to play center helps his cause.  His free agency has been a bit perplexing in the past in terms of the type of interest he gets but it wouldn’t be shocking to see him land another two-year deal around this price point.  Barron has been a regular on the fourth line for several years now and signed this deal this summer to walk him right to UFA eligibility.  He will need to find a way to land a spot higher in the lineup if he wants to beat this by a significant amount in 2027.

Fleury played a limited role in his first season in Winnipeg and this contract reflects the expectation that he’ll remain a depth defender for the next couple of years.  That has been his role for several years now so there’s no reason to think his future deals are going to remain at or near the minimum salary moving forward.

Read more

Signed Through 2027-28

D Dylan DeMelo ($4.9MM, UFA)
F Alex Iafallo ($3.667MM, UFA)
D Josh Morrissey ($6.25MM, UFA)
D Dylan Samberg ($5.75MM, UFA)

Iafallo opted to take a small pay cut to take an early extension back in April.  He has largely been in the same range offensively as Niederreiter and Namestnikov in recent years so he opted for the security over risking a weaker than expected open market process.  Given his usage since joining the Jets, he’s likely to stay around this price point moving forward.

When Morrissey started this contract, it looked risky.  His career-high in points at the time was only 31 so they were clearly forecasting that he had another level to get to in that regard.  And they were very much right about that.  Morrissey has gone from being a player with some hopes of taking another step forward to a legitimate all-around number one blueliner.  The top end of the market is $5MM past this price point while most teams have at least one defender making more than this; several have multiple rearguards making more.  Morrissey will be 33 when this contract expires which will hurt his market to a point but even so, he should still push past $10MM per season on a long-term pact.

Samberg took a big step in his development last season, going from a third-pairing piece to a highly trusted top-four shutdown defender.  However, despite his limited track record in that role, he was able to sign this deal to avoid arbitration, one that only gives the Jets one extra year of club control.  The market for shutdown defenders is generally harder to pin down but this is already toward the higher end of that market and he got there pretty quickly so there’s some risk involved for Winnipeg here.  That said, three more seasons like last year and he’ll be in line for another big jump.  DeMelo is another more stay-at-home top-four option whose track record is a little more entrenched.  That said, even this deal is on the higher end for someone who was more of a fifth option just a few years ago.

Signed Through 2028-29

None

Signed Through 2029-30 Or Longer

G Connor Hellebuyck ($8.5MM through 2030-31)
D Neal Pionk ($7MM through 2030-31)
F Mark Scheifele ($8.5MM through 2030-31)
F Gabriel Vilardi ($7.5MM through 2030-31)

Since 2016-17, Scheifele has averaged just over a point per game and is coming off a career-best 89 points.  That’s legitimate top-line production at a price tag that’s a few million below the highest-paid top liners.  As long as he stays in that range offensively, the Jets will do quite well with this deal.  There’s obviously concern about the final couple of years but he still might provide enough surplus value in the front half to offset that.  Vilardi, meanwhile, is still on the way up.  At least, that’s Winnipeg’s hope here.  While injuries continue to be an issue for him, he has produced like a top-line winger at times over the last couple of seasons.  If he still has another gear offensively to get to, this should become team-friendly quite quickly, as long as he stays healthy.

Pionk hasn’t been able to get back to the offensive numbers he had in his first season with Winnipeg but he got pretty close last season in spite of an injury that cost him 13 games.  Knowing that right-shot defenders often get a premium, this contract should still be reasonable as long as he can stay in the 35-40-point range and stay in a top-four role.  It won’t be a bargain but it shouldn’t be a huge drag on their books either.

Hellebuyck is only making a little more than some of the recent players to reach the $8MM mark and his track record is much better than those other goalies, including three Vezinas and a Hart Trophy.  Of course, he’s also 32 with six years left on his contract and a league-high workload that probably will catch up with him eventually.  For now, this is a very team-friendly pact (playoff issues notwithstanding) but those final few seasons could be problematic as he starts to wear down.

Still To Sign

None

Buyouts

D Nate Schmidt ($1.617MM in 2025-26)

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) Morrissey
Worst Value: Samberg

Looking Ahead

Winnipeg has nearly $4MM in cap space heading into this season, putting them in a good spot to bank some flexibility early on and then try to make a move or two at the trade deadline.  It’s an approach GM Kevin Cheveldayoff has had for a while, albeit with varying degrees of success.

With so many expiring deals, they have over $40MM to play with next summer, although with nearly half a roster to fill as well.  That will provide some flexibility to reshape things but Connor will probably take more than a quarter of that if he stays and the Jets have had some challenges attracting players in free agency.  The safer bet is that Cheveldayoff tries to keep as much of the core intact as possible and then continues to nibble around the edges of the roster but his hand could be forced in a different direction if Connor opts to test free agency.

Photos courtesy of Terrence Lee and Steve Roberts-Imagn Images.

Salary Cap Deep Dive 2025| Winnipeg Jets Pro Hockey Rumors Originals

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PHR Mailbag: CBA, Playoffs, Kaprizov, Camp Surprises, Hughes Brothers

September 21, 2025 at 6:55 pm CDT | by Brian La Rose Leave a Comment

Topics in this edition of the PHR Mailbag include breaking down one of the new CBA rule changes, fitting the Hughes brothers on the same team, and more.  If your question doesn’t appear here, check back in next weekend’s column.

Gmm8811: I thought I saw somewhere that players that go on and clear waivers have to actually play at least one game with their AHL affiliate. Did I hear that correctly? Is that starting this year? Would you expand on that info, please? Do you foresee any drawbacks to that? Looking forward to the new season.

This isn’t actually a waiver-specific rule.  A player can clear waivers and not be sent down while remaining eligible to play for their team.  That doesn’t happen often but it does happen, especially around the trade deadline.

What the rule you’re mentioning speaks to is paper transactions.  Section 30 of the new CBA MOU adds a blurb to Section 13.12 of the CBA that basically says that a player who is sent to the minors needs to actually report to the minors and play in at least one game.  The exact rule is as follows:

A Player who has been Loaned to a minor league club, and was not credited with a day pursuant to (h) above for one (1) or more days since the Loan, must actually report to the club and play in one (1) or more games with such minor league club before he is eligible for Recall. Not withstanding the foregoing, a Goaltender on Loan who has played less than the required one (1) game may be Recalled if his NHL Club would otherwise have less than two Goaltenders available to dress in the Club’s next game.

This is one of the changes that the league and the NHLPA agreed would come into effect for the upcoming season.  As we saw in recent years, many teams would ‘paper’ a player to the minors on an off day, then recall him the following day to play in an NHL game.  The player never actually reported to the minors but didn’t receive his NHL salary for the day, giving the team a few thousand dollars extra in cap space.  This rule is designed to deter teams from doing this.  Now, if a team sends a player down to the minors (whether they cleared waivers or are waiver-exempt), they actually have to report to that team and play in a game before they can be brought back up.  Notably, there is a rewrite to another subsection in there that effectively says if an emergency recall situation presents itself (someone else gets hurt putting the team below the required minimum number of skaters), then the recently-assigned player can be recalled before actually playing in an AHL game.

I doubt this will actually change much, however.  Teams that need space are still going to churn their roster, it’s just going to involve multiple players now instead of one.  Player A gets sent down, Player B is recalled.  Player B gets sent down, Player A is recalled and so forth.  If waiver exemption is exhausted, then start with Player C and maybe Player D if needed (or re-waive Players A and B to give them another 30-day exemption window).  So now, the player who was getting papered will probably lose out on NHL money and ice time since the scheme, so to speak, will now require multiple players to pull off which will cause a different type of grumbling.  That’s the drawback that comes to mind.

It’ll stop Carolina from papering Jackson Blake down (something that probably happened 15 or more times last season despite the fact he played in 80 NHL games) but probably won’t change much else.

frozenaquatic: Hi! Thanks for doing these. Getting out the crystal ball: Are there any teams you think will underperform this year? Who is a shocking team that we could see having problems and dropping out of the playoffs?

For quick reference, I had a question last column about four teams missing and four teams making the playoffs, one set per division.  Rather than rehashing that out, you can read through my picks here.

Based on the four miss teams in there, the one that best fits this question would be Washington.  Montreal missing wouldn’t be too shocking, neither would Minnesota, and while Los Angeles would certainly be a surprise (and I don’t think they’re missing the playoffs), that wouldn’t be as shocking as a reigning Conference winner missing the postseason.

A lot went wrong for Washington in 2023-24 and just about everything went right last year.  They had several players have career years, the cheapest goalie tandem gave them above-average play, and some typical underachievers had some bounce-back efforts.  If some of those gains are lost, it’s plausible that they could be on the outside looking in.

In terms of an underperformer who still makes it, I’d pick Florida.  The way they struggled down the stretch without Matthew Tkachuk was telling and they’ll be without him for quite a while to start the year.  Between that and two long playoff runs, I could see them landing in a Wild Card spot which would be a bit of a disappointment for them.

Johnny Z: What would it take to get Kirill Kaprizov to be a Wing? Yes, I realize the Wings are not a contender, but getting KK would be a big step towards the prize.

Zakis: To piggyback off Johnny Z, what would realistic packages be for Kaprizov for any team in two scenarios: 1) Kaprizov doesn’t sign an extension.

2) He agrees to a sign and trade.

Notwithstanding the unlikelihood of Detroit happening, the situation of how this happens is important to actually answer this question.  Zakis provides two scenarios but I think it’s actually three.  Is it as a straight rental?  If not, Detroit one of the only teams he’d sign with (or one of the only teams offering the contract he wants)?  Or, is there a bidding war for his services in a sign-and-trade with eight to ten teams realistically in the mix?  All of those would yield different-looking returns.  Let’s try to hypothesize each one, using a Detroit-specific answer and a general one to cover Zakis’ follow-up query.

1) In a pure rental scenario, you’re probably looking at two key components.  One is a first-round pick, the other is a key youngster.  Now, this isn’t like the Brock Nelson trade where the young forward was a recent first-rounder (Calum Ritchie).  For someone at Kaprizov’s level and to win a bidding war as a rental (without an extension, more teams can get involved), that other piece is going to hurt.  My initial thought was Marco Kasper and if he’s a third center at the time of the trade, that still could be the case.  If Nate Danielson is having a big year and sees some NHL action, perhaps he’d fit as well.  Detroit shouldn’t need salary retention but if a different acquiring team does, add a second-round pick (or maybe a third, depending on when the deal happens) to the price.

2) If Kaprizov says there’s only one or two teams he’d sign an extension with, Detroit loses a lot of leverage.  They still could probably get the above with the extension balancing out the reduced leverage but there won’t be as much of an add as there should be.  Speculatively, the acquiring team would want to offset the money a bit.  For the Red Wings, that might be someone like J.T. Compher while in general, a top-six forward with a couple of years left fits.  Now, if you’re thinking that this feels really light, you’re right.  But history shows that if a player only has one destination in mind, it’s more of a fifty cents on the dollar type of return.  If you’re the acquiring team, this is the best-case scenario.

3) Now, if Kaprizov is willing to sign an extension with a bunch of teams, look out.  (This is Minnesota’s best-case scenario if they can’t re-sign him.)  Then, you’re looking at probably multiple core players, at least one first-rounder, and a top prospect.  Someone’s going to keep upping the ante and it’s going to hurt.  For the Red Wings, think along the lines of Lucas Raymond, Kasper, a first (or more), and someone like Trey Augustine.  Minnesota gets two core top-six players (Kasper should get there), cap flexibility as those two cost less than what Kaprizov will, and future assets to either keep or try to flip to add another replacement piece.

Now, having said all that, I still think Kaprizov eventually re-signs.  It might take slightly more than what they’ve offered or perhaps a shorter-term agreement compared to eight years but right now, I’d predict they get it done.

Schwa: Who’s an under-the-radar pick to surprise in camp and force their way onto a roster – PTO, long-time AHL, rookie??

PTO – I’ll go with Kevin Labanc here.  He’s coming off a season where he played pretty sparingly in Columbus and didn’t do a lot in limited minutes.  But he has shown top-six flashes in the past and the Hurricanes have had a knack for getting the most out of some of their back-of-roster pieces, even in limited roles.  There isn’t really a great spot for him (which would make him signing a bit of a surprise) but if he gets a deal, he might be able to contribute.

Long-Time AHL – I’m not sure how under the radar he is but Boston’s Matej Blumel is the first player I thought of when I saw this question.  He was a stellar performer in the minors the last three years with AHL Texas but barely got an NHL opportunity.  The Bruins gave him a one-way deal this summer, a sign they think he could do just that.  Alex Steeves, another Boston signing, could also fit the bill although he might have a bigger hill to climb.  I think he has more NHL upside than he got to show in several years with Toronto.

Rookie – Let’s go with Colorado’s Zakhar Bardakov.  A 2021 seventh-round pick in his third year of eligibility, he’s 24 and hasn’t seen the ice yet in North America.  However, he’s coming off his best performance with SKA St. Petersburg of the KHL and plays with some grit.  The Avs have built a deeper roster but there’s still room for some rookies to grab hold of a spot and Bardakov could step in and do just that.

pawtucket: There’s a lot of talk about the Hughes brothers wanting to play together. How, then, does a team (Devils?) tightrope the salary cap while having a $12MM Quinn, $8MM Jack, and $5MM Luke all needing to be signed around the same time (Quinn expires in two years, Jack in five, Luke maybe in five)?

First, I think you need to reset your number for Luke Hughes.  A five-year, $25MM offer isn’t going to get it done.  While that might be his desired term, the cost would still probably eclipse $7MM and if it’s a longer-term pact, an AAV above Jack’s will be needed.  For Quinn Hughes, that number might wind up a little light as well based on the increasing cap but it’s fair enough to use here.  I’m going to put Luke at $7.5MM and sort of split the difference between the two ranges earlier, meaning the trio would cost $27.5MM.

Short-term, that wouldn’t be hard for New Jersey to manage.  A top-line center and top defense pairing already costs more than $20MM on most teams and by the time 2027-28 rolls around, that shouldn’t be overly costly.  Dougie Hamilton will be on an expiring deal by then so he’d probably be movable, even if not for a great return.

But if they time up their contracts to be up when Jack’s deal expires in 2030, that could be a different story.  At that point, Quinn is still probably in that $12MM range (maybe $13MM), Jack Hughes could very well be at $13MM himself, and Luke could be touching double-digits as well.  (It’s so early in his career that this number could be quite light before long.)  Now you’re talking somewhere between probably $36MM and $40MM for three players.  By then, the league-wide cost for those three spots might be up around $30MM to $32MM so the gap is a bit higher but probably manageable.  It would come down to a team having enough expiring deals to offset those salaries or moving out some pieces to cover the difference but I don’t think it would be overly problematic to fit them in.

Photo courtesy of Nick Wosika-Imagn Images.

NHL PHR Mailbag| Pro Hockey Rumors Originals

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Summer Synopsis: Ottawa Senators

September 20, 2025 at 8:15 pm CDT | by Brian La Rose 2 Comments

With training camps now almost upon us, the bulk of the heavy lifting has been done from a roster perspective.  Most unrestricted free agents have found new homes, the arbitration period has come and gone, and the trade market has cooled.  Accordingly, it’s a good time to take a look at what each team has accomplished this offseason.  Next up is a look at Ottawa.

After missing the playoffs for seven straight years in the midst of a long-term rebuild, the Senators finally got over the hump last season, making the postseason and finishing only one point behind Florida for the third seed in the Atlantic Division; the Panthers, of course, went on to win the Stanley Cup again last season.  GM Steve Staios opted to largely keep his core group intact, believing that continued growth from their top players will allow them to take another step forward in 2025-26.

Draft

1-23 – D Logan Hensler, Wisconsin (Big 10)
3-93 – F Blake Vanek, Stillwater (USHS-MN)
4-97 – G Lucas Beckman, Baie-Comeau (QMJHL)
5-149 – F Dmitri Isayev, Yekaterinburg (MHL)
6-181 – F Bruno Idzan, Lincoln (USHL)
7-213 – G Andrei Trofimov, Magnitogorsk (MHL)

The Senators didn’t make any big splashes at the 2025 draft, outside of trading down slightly in the first round in order to pick up the third-round pick they would send to Los Angeles for Spence. The club didn’t have a second-round pick as a result of the Zetterlund trade with San Jose, but nonetheless managed to put together a draft class that should produce an NHL player or two.

Hensler was widely regarded as a polished defenseman by scouts, one who capably handled the rigors of NCAA hockey as a freshman and grew more comfortable as the season progressed. While most public-facing scouts do not credit Hensler with a standout single tool, he’s widely seen as a likely long-term NHL player. The team at Elite Prospects recently ranked Hensler as the club’s number-two prospect behind 2024 top pick Carter Yakemchuk.

The Senators began the second day of the draft by adding Vanek, a Minnesota high school prospect who is the son of longtime NHLer Thomas Vanek. Vanek offers an intriguing package of physical tools and was ranked 18th in the team’s system.

In the later rounds, Beckman represented a solid bet as the club added one of the QMJHL’s more promising netminders. Isayev is an undersized Russian winger who was point-per-game in the MHL in his draft season, while Idzan dazzled fans of the USHL’s Lincoln Stars with his offensive skill last season. He became the first Croatian selected in the NHL Entry Draft and will play at the University of Wisconsin next season.

Trade Acquisitions

D Jordan Spence (from Los Angeles)

The Senators’ lone trade acquisition from the summer was Spence, a 24-year-old blueliner. Spence is an undersized blueliner who brings real offensive talent in his game, and had two quality, near point-per-game AHL seasons after turning pro in 2021-22. Spence already has 180 NHL games to his name, and is coming off of a season where he scored 28 points in 79 games. The arrival and emergence of 2021 top pick Brandt Clarke in a similar offensively-focused right-shot role appears to have pushed Spence out of Los Angeles, and the Senators look poised to benefit.

At the moment, Spence appears to sit third on the team’s right-shot defensive depth chart, behind established veterans Artyom Zub and Nick Jensen. He’ll have to compete with Nikolas Matinpalo for the team’s third-pairing right-side spot, but Spence is notably more experienced than Matinpalo and should be viewed as the favorite for that role.

If Spence can further establish himself as an NHL regular in Ottawa and perhaps find a way to get minutes on the power play (not the easiest task with Jake Sanderson and Thomas Chabot on the roster) Spence will likely provide a strong return for the Senators’ investment of a third-round pick.

Beyond adjusting to a new environment, it’s an important year for Spence due to his contract situation. His $1.6MM AAV contract is set to expire this summer, when he’ll in all likelihood receive a qualifying offer and become a restricted free agent. He already has an argument for a decent pay raise over the value of his last deal, but breaking into the 30-point range could strengthen his case even further.

UFA Signings

F Wyatt Bongiovanni (one year, $775K)*^
F Nick Cousins (one year, $825K)^
F Lars Eller (one year, $1.25MM plus $1MM in bonuses)
F Claude Giroux (one year, $2MM plus $2.75MM in bonuses)
F Hayden Hodgson (two years, $1.55MM)*^
F Arthur Kaliyev (one year, $775K)*
F Olle Lycksell (one year, $775K)*
G Hunter Shepard (one year, $775K)*

*-denotes two-way contract
^-denotes re-signing

The Senators didn’t do any major free agent shopping this past summer – the largest deal they signed was to re-sign veteran Claude Giroux for another campaign. Their most significant UFA addition from outside the organization was Eller, a veteran center signed to a one-year deal. Eller, now 36, has long been one of the NHL’s better third-line centers, though age is beginning to catch up to him. The 2018 Stanley Cup champion saw his offensive production decline from 15 goals, 31 points in 2023-24 to 10 goals, 22 points in 2024-25.

The Senators didn’t sign Eller for his offense, though. What they’re likely seeking is for Eller to serve as a quality fourth-line defensive center. With Tim Stutzle, Dylan Cozens, and Shane Pinto entrenched as the team’s three top centers moving forward, there isn’t a need for Eller to play as big a role in Ottawa as he did in during his peak years with the Washington Capitals. His contract from this past summer reflects that.

The Senators’ other UFA external additions were made more with an eye to depth and their AHL affiliate than anything else.

They picked up Kaliyev after his stint with the New York Rangers failed to generate momentum. He’s a player Senators management is familiar with from his days in the OHL: Senators president of hockey operations Steve Staios was Kaliyev’s GM back during Kaliyev’s successful stint with the then-Hamilton Bulldogs. One has to think this is a big year for the enigmatic 24-year-old winger to prove he has what it takes to be an NHL player.

Lycksell and Bongiovanni are quality AHL scorers, and Lycksell’s $450k AHL salary indicates he’ll likely be relied upon as one of the top offensive weapons in Belleville. Hodgson is a bigger winger with a more physical profile who could end up seeing an NHL recall should the Senators need a player to fill a fourth-line role for a short period. Shepard, a two-time Calder Cup champion, will likely play a big role for the AHL Senators after receiving a $400k AHL salary to sign in Ottawa.

RFA Re-Signings

F Xavier Bourgault (one year, $775K)*
D Cameron Crotty (two years, $1.625MM)*
F Jan Jenik (one year, $775K)*
D Tyler Kleven (two years, $3.2MM)
D Nikolas Matinpalo (two years, $1.75MM)
G Leevi Merilainen (one year, $1.05MM)
D Donovan Sebrango (one year, $775K)*
D Lassi Thomson (one year, $775K; returns from SHL)
D Fabian Zetterlund (three years, $12.825MM)

*-denotes two-way contract

The Senators’ most significant RFA re-signing was undoubtedly that of Zetterlund, their mid-season trade acquisition from the San Jose Sharks. They didn’t elect to sign the Swedish winger to a long-term extension, which is understandable after he struggled to produce in his 20-game run in Ottawa last season.

In San Jose, Zetterlund showed quite a bit of promise, and has now scored at least 40 points in back-to-back years. Zetterlund plays a unique style in that he has a power forward’s game despite being 5’11. Now earning a shade over $4MM, Zetterlund will have to build some chemistry with one of the team’s existing scorers in order to justify the club’s level of investment in him.

Kleven and Matinpalo are the other two major skaters in the club’s RFA cohort, both likely to be on the team’s NHL roster for 2025-26. Kleven is a rangy defensive defenseman likely to resume his role as the team’s third-pairing left-shot blueliner for this upcoming season – and his $1.6MM AAV reflects that role. Matinpalo, 26, impressed last season as he broke into the NHL and even earned a role on Finland’s Four Nations Faceoff team. He got into 41 games last season and the addition of Spence means he’ll have to really compete to earn a regular role on Ottawa’s defense. But at minimum, it looks like he’ll be the club’s seventh defenseman and be first to step in should any injuries strike.

Merilainen, the lone goalie in that grouping, played in 12 NHL games last season and will be Ottawa’s backup behind starter Linus Ullmark for the upcoming season, provided he can fend off a challenge from the big Mads Sogaard.

Bourgault, Crotty, Jenik, Sebrango, and Thomson are each long-shots to make the team’s NHL roster, but were nonetheless re-signed with an eye to AHL Belleville. It’s a big year for Bourgault in particular, as the 22-year-old forward is just one of a small handful of 2021 first-round picks who have yet to appear in an NHL game.

Departures

F Angus Crookshank (signed with New Jersey, two years, $1.55MM)*
F Philippe Daoust (non-tendered but signed AHL deal with Belleville)
D Jeremy Davies (signed with AHL Henderson)
G Anton Forsberg (signed with Los Angeles, two years, $4.5MM)
F Adam Gaudette (signed with San Jose, two years, $4MM)
D Dennis Gilbert (signed with Philadelphia, one year, $875K)
D Travis Hamonic (signed with Detroit, one year, $1MM)
F Matthew Highmore (signed with NY Islanders, one year, $775K)*
F Jamieson Rees (non-tendered but signed AHL deal with Belleville)
F Cole Reinhardt (signed with Vegas, two years, $1.625MM)
F Tristen Robins (signed in Czechia)
D Filip Roos (signed in Sweden)

*-denotes two-way contract

The Senators lost a few NHLers this offseason, but nobody who is likely to leave a big void in the club’s roster. Gaudette scored 19 goals last season and the Senators didn’t bring in anyone with that kind of goal-scoring record, but an improved year from Zetterlund could help cover for the loss of Gaudette. The Senators could very well have been skeptical that Gaudette, who shot 21.1% last season, would be able to repeat his performance, hence their decision not to re-sign him.

In the departure of Anton Forsberg, the Senators lost an experienced NHL backup – but if Merilainen’s 2024-25 performance is something he can build on, the Senators will be fine. Right-handed veteran Hamonic’s spot on the team’s defensive depth chart was filled by the addition of Spence, and while Reinhardt was a useful, scrappy depth winger, he’s not a departure that will make a major difference in the Senators’ fortunes.

Salary Cap Outlook

The Senators enter training camp with a little over $3.5MM in cap space, per PuckPedia.  However, the team is operating as a cash-over-cap team, something that owner Michael Andlauer acknowledged would likely mean they won’t spend right to the $95.5MM ceiling.  Between that, wanting to keep some flexibility open for injuries, and keeping some money available for the bonuses to Giroux and Eller, the actual amount of that cap room that’s available to be spent right now would appear to be quite limited.

Key Questions

Who Will Be Ottawa’s Backup Goalie?

Although the Senators have one of the NHL’s top veteran netminders in Ullmark, the 32-year-old Swede is not known for an ability to shoulder a heavy workload. Ullmark played in just 44 games in 2024-25, and even in his Vezina Trophy-winning season, he played in just 49 games. In other words – the backup goalie spot in Ottawa is more important than for other teams, because the club’s other netminders are in line to play a greater workload than backups see in other markets. Offseason RFA signing Merilainen looks like the front-runner to be the backup goalie after the departure of Forsberg, but he’ll be pushed by Sogaard, who has 29 games of NHL experience. The dark horse here would be Shepard, a veteran who struggled with the AHL’s Hershey Bears in 2024-25 but was downright elite in 2023-24.

Can the Senators Expect More From Their Stars?

The Senators are led by a talented core group of in-their-prime players, but that’s not to say each player played up to his potential in 2024-25. Franchise center Stutzle led the team in scoring, but he’s finished in the 70’s in terms of point production in back-to-back years. After scoring 90 points in his third NHL campaign, it would be fair to expect a little bit more from the highly talented German. The same can be said for captain Brady Tkachuk. Tkachuk is a highly coveted, unique talent, and so one would be forgiven for not realizing he had only 55 points last season. For the Senators to become the kind of dominant force they have the talent to be, they’ll need him to produce the way he did in 2022-23, when he put up 83 points to go alongside 35 goals. The Senators have a collection of players that, on paper, are more than good enough to claim a divisional playoff spot. But they’ll need a few big names to step up and play up to their potential in order to do so.

How Will Zetterlund Do In His First Full Senators Season?

The Senators’ roster is largely settled, with big names under contract and few existential roster questions. As the above question alluded to – the pieces are largely in place, the main element needed now is execution. The most notable still-unsettled piece of the Senators puzzle is Zetterlund. The Athletic’s Julian McKenzie indicated before training camp that the expectation would be for Zetterlund to begin the year on the team’s first line alongside Stutzle and Tkachuk, which would be a huge opportunity for Zetterlund to potentially set new career highs in production. Whether he’s able to actually do so – and justify the Senators’ investment in him – will be a key storyline to watch in Ottawa this season.

PHR’s Ethan Hetu also contributed to this column.

Photos courtesy of Charles LeClaire-Imagn Images.

Ottawa Senators| Summer Synopsis 2025 Pro Hockey Rumors Originals

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Salary Cap Deep Dive: Utah Mammoth

September 20, 2025 at 4:00 pm CDT | by Brian La Rose Leave a Comment

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 Central Division, next up are the Mammoth.

Utah Mammoth

Current Cap Hit: $88,817,857 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Logan Cooley (one year, $950K)

Potential Bonuses
Cooley: $3.5MM

As expected, Cooley took a big step forward in his sophomore season while clearing all four of his ‘A’ bonuses ($1MM in total).  GM Bill Armstrong hasn’t hesitated in trying to sign some of his young core pieces to long-term deals and it makes sense he’ll try to do so here.  But with the cap projections that are available, the cost of that pact should break past the $8MM ceiling of many of his comparables and even jump ahead of the $9MM mark.

Signed Through 2025-26, Non-Entry-Level

F Michael Carcone ($775K, UFA)
D Ian Cole ($2.8MM, UFA)
G Connor Ingram ($1.95MM, UFA)
F Barrett Hayton ($2.65MM, RFA)
F Alexander Kerfoot ($3MM, UFA)
F Nick Schmaltz ($5.85MM, UFA)
F Kevin Stenlund ($2MM, UFA)
D Juuso Valimaki ($2MM, UFA)
G Vitek Vanecek ($1.5MM, UFA)

Potential Bonuses
Cole: $200K

The backloaded nature of Schmaltz’s contract made him a speculative trade candidate before the team was sold and moved to Utah which took that idea off the table.  He has been quite consistent offensively in recent years, ranging between 58 and 63 points in each of the last four seasons, solid second-line production.  He hasn’t played center too frequently over that stretch but has spent enough time down the middle that teams on the open market will be willing to pay the premium to get a top-six center.  He’ll make $8.5MM this season between his salary and signing bonus and while matching that on his next contract could be difficult, landing in the $7.5MM area seems doable.

Kerfoot’s offensive production has been a little volatile over the past few years but he still has a floor of a third-line center who can play up and down the lineup when needed.  That profile should appeal to a lot of teams and another multi-year deal (three or four years) should be doable with a price tag pushing past the $4MM per season mark.  The second bridge deal given to Hayton has gone better than the first and this will be a big year.  If he can have another 40-plus-point campaign, that will be three years out of four, giving him a much better case in his final arbitration-eligible year.  If they work out a long-term deal, it could land past $6MM per season while if they opt for another shorter-term pact that buys just a couple of years of control, it might land more in the $5MM range.

Stenlund landed more than some expected last summer for a player who had only been a full-time player for one year but he wound up playing a bigger role than expected and won over 59% of his draws.  Another season like that could have him closer to $3MM while a step back could keep him around where he is now.  Carcone wasn’t planning on coming back to Utah after spending a lot of the year as a healthy scratch but after the market didn’t go his way, he accepted the minimum to return.  At this point, he’s likely to stay around the minimum moving forward.

Cole, who will max out his bonuses at 65 games played, is now on his fifth straight one-year contract.  He has logged a fourth or fifth role for the bulk of that time and at this point, barring a big drop in ice time or efficiency, it seems same to think he’ll stay around this price tag next summer, probably on another one-year pact when he’ll be 37.  Valimaki is coming off a tough year, one that saw him scratched at times before suffering a torn ACL which will cost him the first couple of months of this season as well.  At this point, he’ll be hard-pressed to match this price tag on his next deal and a one-year pact to try to rebuild some value might be the way to go.

Ingram took over the number one job in 2023-24 but wasn’t able to sustain that success last season and entered the Player Assistance Program in March but was cleared last month.  However, he won’t be returning to Utah, putting his short-term situation into question.  If he can stay in the NHL, another deal in this price range could be doable.  But if he winds up in the minors for a big chunk of next season, he could find himself closer to number three money, around half of his current AAV.  Vanecek was brought in as additional insurance this summer and is coming off a rough year, his second straight with numbers well below average.  Unless he turns that around, he’s unlikely to command any sort of significant raise next year.

Signed Through 2026-27

F Lawson Crouse ($4.3MM, UFA)
D John Marino ($4.4MM, UFA)
F Liam O’Brien ($1MM, UFA)

After a couple of 40-point seasons, it looked like Crouse was turning the corner and becoming a legitimate top-six piece.  But things went sideways last season as he only managed 18 points.  If last year was an aberration, then Utah should still get decent value over these final two years while Crouse will be in line for a small raise.  But if last season is the new sign of things to come, his value is going to take a big blow, putting his next deal closer to half of his current deal.  O’Brien was the NHL’s leader in penalty minutes in 2023-24 while playing a regular role but he was scratched more often than not last season.  Still, there remains enough of a market for enforcers that he could still best this contract two years from now.

Marino’s first season in Utah was injury-riddled as he only played in 35 games.  Still, in those outings, he showed that he can hold down a top-four role and kill penalties.  Add that to being a right-shot defender and you have the profile of a player who should be able to push past $5MM per season on his next contract on what’s likely to be another long-term deal.

Signed Through 2027-28

D Sean Durzi ($6MM, UFA)
F Clayton Keller ($7.15MM, UFA)
D Olli Maatta ($3.5MM, UFA)
D Nate Schmidt ($3.5MM, UFA)
F Brandon Tanev ($2.5MM, UFA)

Keller hasn’t always received a lot of fanfare but over the past four seasons, he has found that extra gear and has become a legitimate top-line producer, averaging just shy of 80 points per campaign over that stretch.  As the market value for top-line wingers is set to go up over the next couple of years, Keller should be in a spot to surpass $10MM per season on a long-term pact in 2028.  Tanev isn’t as impactful as he was a few years back but he can still add some grit and defensive acumen to the Mammoth.  He’ll be 37 when this deal ends so he’ll likely be going year-to-year from there and if his role resembles that of his time in Winnipeg down the stretch, he will be hard-pressed to make this on that next contract.

Durzi is an interesting case.  After showing some offensive promise in Los Angeles, his first year with this organization (back when it was in Arizona) saw him take another step forward, earning this contract and suggesting he can be a core piece for Utah.  But injuries limited him last season to just 30 games and with some of the defensive additions they made following the change in cities, his role wasn’t as substantial, particularly his power play time.  He’s likely to get similar usage moving forward.  If he can get back to being a 40-point player, his value on the open market could push more towards the $8MM range on a long-term pact while if he remains in the role he had last season, the goal might be more along the lines of matching this price tag.

Maatta fit in nicely after being acquired in an early-season trade to give them some help with their injuries.  Still, the decision to give him this contract as an early extension was a little odd, especially since his role when everyone is healthy is lower on the depth chart than where he played for a lot of last year.  This is a little on the high side for someone who is best served as a third-pairing piece but they have the cap space to afford that premium.  The same can be said for Schmidt who was more of a sixth option with Florida but still landed this contract back in July.  He’ll also be entering his age-37 year on his next contract, one that should be a one-year pact closer to half of this amount.

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Signed Through 2028-29

None

Signed Through 2029-30 Or Longer

F Dylan Guenther ($7.143MM through 2032-33)
F Jack McBain ($4.25MM through 2029-30)
F JJ Peterka ($7.7MM through 2029-30)
D Mikhail Sergachev ($8.5MM through 2030-31)
G Karel Vejmelka ($4.75MM through 2029-30)

Peterka didn’t appear to be willing to re-sign with Buffalo and rather than go through a prolonged battle with the risk of an offer sheet, they opted to move him to Utah.  He has had two straight 18-point improvements offensively and played on the top line last season.  If he stays on that trajectory, this should become a team-friendly pact relatively quickly.  That said, he’ll only be 28 when this contract expires, setting him up for a pricier long-term agreement in what should be an even more favorable cap environment.

Armstrong signed Guenther to this deal back when he had less than one full season of NHL experience under his belt, a very risky move for someone who had spent time in the minors for two straight years.  But he felt locking the winger up quickly would work out long-term and Guenther had a strong first full year that suggests Armstrong will be proven right.  His contract is one that other agents will be pointing to in discussions for their young forwards.  McBain avoided arbitration with this deal this summer.  It’s on the high side given his offensive production (his career high is just 27 points) but given his physicality and defensive acumen and the escalating cost of centers, there’s a high floor to work with that should allow the Mammoth to get at least an okay return on this deal.

Sergachev got the chance to become an all-around number one defenseman last season after playing behind Victor Hedman in Tampa Bay.  The early results were certainly encouraging.  If he simply was to repeat last season’s performance year after year, Utah would happily take it.  But if he has another level to get to now that he’s better accustomed to being the top guy, this could become a decent bargain despite the already high price tag.

Vejmelka took advantage of the improved team in front of him to reclaim the number one job and had his best statistical season in 2024-25.  Still with a limited track record overall, that didn’t give him a ton of leverage in contract talks, resulting in him landing in the territory of a starter who has shown some flashes of being a number one but also enough struggles (from the days of the Coyotes) to make it far from a guarantee.  If he stays at last season’s level – a reasonable expectation with the team improving again – this could be a below-market pact fairly quickly.

Still To Sign

None

Buyouts

None

Retained Salary Transactions

D Oliver Ekman-Larsson ($650K in 2025-26 and 2026-27, $290K from 2027-28 through 2030-310

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) Keller
Worst Value: Schmidt

Looking Ahead

By shedding Shea Weber’s contract at the trade deadline last year, Armstrong was able to add to his roster and not need to dip into LTIR.  Instead, they have plenty of flexibility for the upcoming season while also having plenty of prospect capital if they’re in a position to add heading into this season’s deadline.

They’re in pretty safe shape moving forward.  Cooley’s raise next summer will be substantial and Schmaltz will need a new contract but that can easily fit within their $38MM of cap room.  The cap space for 2027-28 sits over $58MM with no high-priced players to re-sign (Marino and Crouse headline that class of expiring contracts).  As long as the budget is there to spend (and all indications say it will), Utah is well-positioned to keep and add to its core group for the next few years.

Photos courtesy of Kim Klement Neitzel and Brad Penner-Imagn Images.

Salary Cap Deep Dive 2025| Utah Mammoth Pro Hockey Rumors Originals

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