Salary Cap Deep Dive 2025

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.

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.

Salary Cap Deep Dive: Buffalo Sabres

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

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.

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.

Salary Cap Deep Dive: Boston Bruins

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

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.

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.

Salary Cap Deep Dive: Winnipeg Jets

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

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.

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: Utah Mammoth

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

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.

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: St. Louis Blues

September 13, 2025 at 4:00 pm CDT | by Brian La Rose 1 Comment

St. Louis Blues

Current Cap Hit: $94,874,849 (below the $95.5MM Upper Limit)

Entry-Level Contracts

D Logan Mailloux (one year, $875K)
F Jimmy Snuggerud (two years, $950K)

Potential Bonuses
Snuggerud: $800K

Snuggerud joined St. Louis for the stretch run last season after his college campaign ended and made a solid first impression with four points in seven games while adding four more in their first-round loss to Winnipeg. He should land a middle-six role, giving him a shot at reaching some of his ‘A’ bonuses. He’s someone that, if all goes well, they’d want to sign long-term but with several other core youngsters up by then, can they afford to do so?

Mailloux came over from Montreal in a one-for-one swap for Zachary Bolduc in a swap of 2021 first-round picks. He has shown plenty of offensive promise in his first two seasons and should have a chance to come in and be a secondary contributor on their back end. At this point, it’s likely he’ll land a bridge agreement which, depending on his production this season, could plausibly run anywhere between $1.5MM and $2.5MM.

Signed Through 2025-26, Non-Entry-Level

D Philip Broberg ($4.581MM, RFA)
D Cam Fowler ($4MM, UFA)*
F Dylan Holloway ($2.29MM, RFA)
D Matthew Kessel ($800K, RFA)
F Mathieu Joseph ($2.95MM, UFA)
F Oskar Sundqvist ($1.5MM, UFA)
F Alexandre Texier ($2.1MM, RFA)
F Alexey Toropchenko ($1.7MM, UFA)
F Nathan Walker ($775K, UFA)

*-Anaheim is retaining an additional $2.5MM on Fowler’s contract.

Joseph was acquired from Ottawa with St. Louis picking up a third-round pick to take on the rest of his contract. He wasn’t particularly impactful in his first season with the Blues and while he’s only a year removed from a 35-point year, a similar showing in 2025-26 could have his next deal coming closer to half of this amount. On the other hand, Holloway is on the rise. Acquired for a third-round pick via the offer sheet (not the one they got to take on Joseph), he had a breakout year with 63 points, good for third on the team in scoring. With arbitration rights next summer, a similar showing this season could have him more in the $7MM range on a long-term deal. What a difference a year can make after being limited on the depth chart in Edmonton.

Texier was also brought in last summer with the hopes that a change of scenery could help him most consistently show the upside he briefly displayed with Columbus. Instead, injuries were once again an issue and his playing time was a career-low when he was in the lineup. At this point, he might be a non-tender candidate or needing to sign for close to his $2.1MM qualifying offer. Toropchenko surprisingly signed this one-year deal last October and while he brought plenty of physicality, he also only scored four goals in 80 games. A small raise could nonetheless come his way but if he remains around the 20-point range, he should land somewhere around the $2.25MM mark next year.

Sundqvist has been an effective bottom-six center for a good chunk of his two stints with St. Louis but still had to settle for a minimum contract just two summers ago. He’s done enough to earn a small raise but given his market limitations the last time he tested the market, it might only be worth a few hundred thousand per season. Walker had his best season in 2024-25, becoming more of an every-game player but his overall track record remains that of a depth piece. The increase to the minimum salary guarantees him a raise to $850K and it’s possible he can do a little better than that.

Broberg’s offer sheet was much riskier than Holloway’s given the higher cap hit associated with it and what was at the time a very limited track record. But the opportunity to play regular minutes in the top four for the first time in his career helped him break out and look more like the player Edmonton hoped he’d be when they drafted him eighth overall in 2019. Now, the deal has gone from a risky one to a team-friendly pact. Also like Holloway, Broberg will be arbitration-eligible next summer, putting him in a position for a big jump again. A long-term pact will likely run them past the $7MM mark while if they needed short-term flexibility, a one-year deal could be an option but still might check in around $6MM.

Fowler was an impactful pickup by GM Doug Armstrong early in the season as he stepped right into a top-four role. For the portion that they’re paying him, he’s a nice bargain. While he’s unlikely to command a price tag at the full portion of his current deal ($6.5MM), it’ll take more than what the Blues are currently paying him to keep him around. A two-or three-year deal around the midpoint of those two numbers might be enough. Kessel technically needs to play in ten NHL games to remain a restricted free agent, otherwise he’s a Group Six unrestricted free agent. Last season wasn’t as good as the year before in the NHL but he’s now waiver-eligible and should be up with St. Louis for the full campaign. If he can lock down a full-time role, he could plausibly double his current cost. If he’s more of a depth option, then something a little over the $1MM mark might make sense.

Signed Through 2026-27

G Jordan Binnington ($6MM, UFA)
F Nick Bjugstad ($1.75MM, UFA)
D Justin Faulk ($6.5MM, UFA)
G Joel Hofer ($3.4MM, RFA)
D Torey Krug ($6.5MM, UFA)
F Jake Neighbours ($3.75MM, RFA)
F Pius Suter ($4.125MM, UFA)
D Tyler Tucker ($925K, UFA)

Suter had a breakout year with Vancouver and with so few centers on the open market, it looked like he was poised to cash in. Instead, while he landed a nice raise over the $1.6MM he made in each of the last two years, only securing two seasons was a bit surprising. If he reverts to being more of a third liner as he has been, it’s still not really an overpay, making it a low-risk addition. Clearly, teams want to see him repeat his 46 points before committing big term and big dollars.

Neighbours continued to show steady improvement but St. Louis wasn’t in a spot to give him a long-term deal, making it another bridge pact. His production hasn’t quite taken off as much as Holloway’s but as a power forward, even maintaining a point total in the mid-40s would have him set for a notable raise on his $4MM qualifying offer. If he continues to progress, he could very well double his current cap charge. Bjugstad had a strong first year in Arizona but struggled last season with Utah which hurt his market. Still, he has been more of a bottom-six producer for the most part in recent years and at this price tag, there isn’t much risk.

Let’s get Krug out of the way quickly. He won’t play this season and probably won’t play next year, meaning he’ll again be LTIR-eligible. Under the new rules, St. Louis would get the full allotment of LTIR room (minus any amount they’re below the cap when they place him there.) Doing so means they can’t accrue cap space and any bonuses hit roll over to 2026-27 so their preferred method at this point is probably trying to avoid it. But while the LTIR change will affect a lot of teams and players this season, Krug will be one of the exceptions.

Faulk is not the higher-end offensive threat he was in his prime and as he nears the 1,000-game mark with the minutes he’s logged, he could start to wear down before too much longer. Nonetheless, he was still an all-situations top-pairing piece in terms of usage last season so even with the drop in production, they’ve still received a reasonable return in recent years. But if the drop continues, he will wind up with a drop of a couple million or so on his next contract. Tucker cleared waivers back in October but wound up playing a relatively regular role in the second half on the third pairing, a role he might be able to reprise. If he can become a full-timer, things will be looking up two years from now when doubling this could be an option. But if he remains more of a reserve player, he’ll stay in that range of being a little above the minimum salary.

It hasn’t always been pretty with Binnington on this contract with there being more ups and downs than teams typically like from their starter. But the good generally has outweighed the bad while he has been one of the workhorses around the league in recent years. Since he’s not in that top tier, he probably isn’t going to be able to reach the $8MM level that a few have hit but another multi-year pact at or even a little above this price point is feasible. As the Blues have done several times with their players, Hofer also received a bridge deal, one that gives them more time to assess if he can ultimately supplant Binnington as the starter. If so, he could land around where Binnington is now. If not, he likely wouldn’t get a big jump off where he is now as the high-end backup ceiling isn’t much higher than this at the moment.

Signed Through 2027-28

F Brayden Schenn ($6.5MM, UFA)

After two of his better offensive seasons in 2021-22 and 2022-23, Schenn’s production has come down over the last couple of years to more around the 50-point mark. Considering his physicality and the fact he plays center, this still isn’t a terrible price tag for someone who is deployed as a second liner. But with over 1,000 games under his belt now and the style he plays, there are going to be some concerns about his ability to provide similar value over these final three years.

Signed Through 2028-29

None

Signed Through 2029-30 Or Longer

F Pavel Buchnevich ($8MM through 2030-31)
F Jordan Kyrou ($8.125MM through 2030-31)
D Colton Parayko ($6.5MM through 2029-30)
F Robert Thomas ($8.125MM through 2030-31)

Thomas and Kyrou signed identical contracts two months apart but since then, their paths have differed a bit. Thomas has emerged as a legitimate top-line center, averaging over a point per game the last two seasons, moving this contract to a team-friendly one already. Meanwhile, Kyrou hasn’t quite gotten to that level yet although he’s averaging 71 points over the past four years which is still solid overall. But that didn’t stop the trade speculation before July 1st when his trade protection kicked in. It’s clear that Thomas is viewed as a core untouchable while Kyrou isn’t quite in that category. But even so, his contract should hold up well in what’s expected to be an inflationary environment over the next few years.

Buchnevich signed this contract last summer as an early extension but he still saw his output dip for the third straight year, going from 75 points to 57 over that stretch. If he stays around this level moving forward, St. Louis could get some reasonable value from this contract but it’s fair to say that they’re paying him to be more in the 65-point range consistently where his deal would hold up a lot better.

Parayko battled some injuries last season but still had arguably his best year overall. An all-situations top-pairing player, he also set career highs in goals and points, helping to cover Krug’s absence and the offensive decline from Faulk. If he can stay healthy (and given his back troubles in the past, it is a legitimate if), this deal should hold up rather well. It will be tough for it to be the internal ceiling on the back end though given the new cap environment.

Still To Sign

None

Buyouts

None

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

$2.153MM

Best Value: (non-entry-level) Holloway
Worst Value: Joseph

Looking Ahead

While things look pretty tight right now, having Krug’s LTIR-eligible contract gives the Blues a fair bit of wiggle room, just with the risk of another carryover penalty (though not as large as the one they’re dealing with this year). Barring a trade or carrying a shorter roster, it feels like they’re going to land in LTIR at some point whenever injuries arise but there should be enough wiggle room to add a player or two in-season if they need to.

St. Louis is going to be in a tighter situation than a lot of teams next summer. Yes, around $32MM in space is nice but around half of that could wind up going to Holloway and Broberg, not to mention the vacancy to fill with Fowler (even if it’s a re-signing). It’s manageable but adding a core piece could be tricky. Things open up after that, however, with just five players signed for more than two years, giving incoming GM Alex Steen a lot of leeway to reshape this roster. It’s just something that isn’t going to happen right after he takes over.

Photos courtesy of John E. Sokolowski and Stan Szeto-Imagn Images.

Salary Cap Deep Dive: Nashville Predators

September 10, 2025 at 7:57 pm CDT | by Brian La Rose 2 Comments

Nashville Predators

Current Cap Hit: $86,158,961 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Zachary L’Heureux (one year, $863.3K)
F Fedor Svechkov (one year, $925K)
F Matthew Wood (two years, $950K)

Potential Bonuses
Svechkov: $212.5K
Wood: $500K
Total: $712.5K

Wood signed late last season after finishing up his college campaign and held his own in limited action. Assuming he remains in his bottom-six role to start this year, it seems unlikely he’ll hit either of his ‘A’ bonuses and that would have him safely on the path to a bridge deal. Svechkov came up in late November and never looked back although his production was rather limited. It seems likely he’ll get a bigger opportunity this season which could give him an outside chance at his ‘A’ bonus. But barring a huge uptick in production, he’s also likely heading for a bridge deal, one that should push past the $2MM mark if he remains a regular this season.

L’Heureux spent most of the season with the Predators where he brought plenty of physicality but not a ton of production to the table, understandable given his limited role. Like the others, the offense simply isn’t there to justify a long-term deal so he’s also heading for a bridge deal, one that again should come in around $2MM if this season is a repeat of last.

Signed Through 2025-26, Non-Entry-Level

G Justus Annunen ($837.5K, RFA)
D Justin Barron ($1.15MM, RFA)
D Nick Blankenburg ($775K, UFA)
F Michael Bunting ($4.5MM, UFA)
D Andreas Englund ($775K, UFA)
F Erik Haula ($3.15MM, UFA)
F Michael McCarron ($900K, UFA)
D Jordan Oesterle ($775K, UFA)
F Cole Smith ($1MM, UFA)
D Spencer Stastney ($825K, RFA)

Bunting was brought in near the trade deadline with GM Barry Trotz opting for a player-for-player swap instead of being a straight seller. He hasn’t had the same type of success offensively since leaving Toronto and will need to push that point total more toward the mid-40s if he wants any sort of notable raise. Otherwise, another contract in this range seems likely. Haula came over from New Jersey this summer following a tough year although he’s averaged 40 points over the previous three seasons. If he gets back to that range, he should be able to get a raise and another multi-year pact, even at 35, which he’ll be in March. If this winds up being a repeat of last season, he might still be able to get two years but it’d be surprising to see him match let alone beat this price tag.

Smith saw his point total drop by nearly half last season despite nearly identical playing time. Still, he’s a big part of their penalty kill and throws the body around. A late-bloomer (he wasn’t a regular until 27), Smith has enough of a track record now that he could conceivably double his current price tag even with the limited output. McCarron hasn’t lived up to his draft billing but has settled in as a serviceable bottom-six checking center who is above-average at the faceoff dot and plays with an edge. Those elements will be appealing which could plausibly allow him to push past $2MM next summer.

Barron was acquired from Montreal midseason in another player-for-player swap, this time with veteran Alexandre Carrier going the other way. While the change of scenery allowed Barron to play a much bigger role, he didn’t do a whole lot with it. Still, he’s likely to push past the 200-game mark this coming season and will have arbitration eligibility this time around with a $1.2MM qualifying offer. Doubling that might be tough but he could come close.

The other four blueliners are all in a similar boat. They’ve been fringe third-pairing defenders in recent years while also seeing time in the minors. Two or three will make the team and if one stands out, he could push past $1MM next summer. The rest will likely stay at the league minimum salary which jumps to $850K in 2026-27. Notably, Stastney will need to play in at least 29 NHL games this season to retain his RFA rights. Otherwise, he’ll become a Group Six unrestricted free agent.

Annunen played a little better after coming over in an early-season trade from Colorado but his numbers were still below average. Just 25 with a fairly limited track record at the top level, it’s not a situation where Nashville should be looking to give up on him but he hasn’t shown enough to earn a long-term pact either. He has one RFA-eligible year left after this and the prudent move for both sides might be another two-year deal, one that would push the price to around $1.5MM, giving him a bit of stability while allowing the team a bit more time to evaluate his longer-term fit as the second-string option. If he bounces back with more of an NHL-average year, the cost could come closer to $2MM on that deal.

Signed Through 2026-27

D Nicklaus Perbix ($2.75MM, UFA)
F Ryan O’Reilly ($4.5MM, UFA)

As was the case with most of their veterans last season, O’Reilly underachieved offensively but he was still a two-way contributor. Between that and his contract, he was highly sought after at the trade deadline but nothing materialized. Even with the drop in production, this is a more than acceptable price tag for O’Reilly for now but at 34 with a lot of miles on him, that could change. Assuming he stays in this range a little longer, he could still beat this on a short-term deal two years from now.

Perbix comes over from Tampa Bay where he saw his playing time drop by more than two minutes a game last season. However, he has shown himself to be a capable third-pairing option, with some underlying numbers suggesting he could be capable of more. This contract suggested teams weren’t willing to bank on that just yet but if he can latch on to a bigger role, his next deal could land closer to the $3.75MM mark. If not, this is a reasonable floor for a third-pairing right-shot piece.

Signed Through 2027-28

D Roman Josi ($9.059MM, UFA)
F Steven Stamkos ($8MM, UFA)

Stamkos leaving the Lightning last summer was quite a surprise for many but his performance last season suggests Tampa Bay was wise to hold firm to their number which was lower than what Stamkos wanted. While 53 points is still respectable, that’s not worthy of an $8MM price tag and at 35, there is some concern that the decline will continue. If so, this could be a troublesome contract before long while a rebound would only delay those concerns a little longer.

When healthy, Josi remains a legitimate all-situations number one defenseman. And this price tag for that type of role is a team-friendly one. However, Josi missed a big chunk of last season with what was eventually labelled as Postural Tachycardia Syndrome and while the team announced that he is recovering well and should be ready to start this season, it’s something that doesn’t have a cure, only treatments. Now 35, a decline in performance should be coming at some point soon and there could be some lingering concern from his diagnosis. With that in mind, it wouldn’t be surprising to see the team try to manage Josi’s minutes a bit more moving forward, perhaps not having him in that high-end number one role.

Signed Through 2028-29

D Nicolas Hague ($5.5MM, UFA)
F Jonathan Marchessault ($5.5MM, UFA)

While Marchessault also saw his point total drop, he still finished second in the team in scoring with 56 points, near his average from the previous few seasons so it’s not too bad of a deal so far. Still, he turns 35 in December and has four years left which isn’t ideal and played a role in trade speculation over the summer although a move never materialized. As is the case with Stamkos and Josi earlier, this might be their last contracts.

Hague might have been one of the biggest surprise moves of the offseason. Nashville dealt two serviceable veterans in Colton Sissons (with salary retention) and Jeremy Lauzon to Vegas to get him and then signed him to a contract that no one saw coming. In his time with the Golden Knights, Hague has been a capable fifth option who can move up a spot in a pinch. Now, he’s being paid like a 20-plus-minute number three defender, a role he’s never had before. The Preds clearly feel he can get to that level but this deal is a big question mark in the meantime.

Signed Through 2029-30 Or Longer

F Filip Forsberg ($8.5MM through 2029-30)
G Juuse Saros ($7.74MM through 2032-33)
D Brady Skjei ($7MM through 2030-31)

Forsberg didn’t get back to the 90-point level a year ago but still managed 35 goals and 41 assists. In this marketplace, that’s at least still fair-market value. Assuming some of the other veteran contributors can rebound, he should be able to stay around that point total for a few more seasons, making it a deal that should hold up relatively well overall.

That can’t be said for Skjei’s contract just yet, however. His first season with Nashville saw him struggle when asked to take on a bigger role and while his offensive production was still decent, his defensive zone play was an issue. That’s not good for someone who was supposed to be a key contributor defensively. Another season or two like that could have the Predators looking to get out of the deal fairly quickly.

Saros only starts his deal now after signing an early extension last summer which, in hindsight, might not have been the way to go for the Preds. Like most of the team, he struggled considerably last season, posting the highest GAA (2.98) and the lowest SV% (.895) of his career. His track record suggests he should bounce back and if he does, this will be a fair-market contract. But if not, this will be an anchor on their books for the long haul.

Still To Sign

F Luke Evangelista

With a pair of 30-plus-point seasons under his belt already, Evangelista has shown he can be a capable secondary contributor but at the same time, he isn’t a viable candidate for a long-term deal either. With a bridge deal probably making sense for both sides, it’s a bit surprising that they haven’t gotten a deal done yet. The recent three-year deal Calgary gave Connor Zary worth $3.775MM per season could become an intriguing comparable in negotiations.

Buyouts

F Matt Duchene ($6.556MM in 2025-26, $1.556MM from 2026-27 through 2028-29)
F Kyle Turris ($2MM through 2027-28)

Retained Salary Transactions

D Mattias Ekholm ($250K in 2025-26)
F Colton Sissons ($1.429MM in 2025-26)

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) O’Reilly
Worst Value: Hague

Looking Ahead

Even after they sign Evangelista, the Predators should have between $6MM and $7MM of cap space heading into the season which is plenty to work with. If they rebound and get back into playoff contention, they’ll have ample room to add. On the flip side, if they sell, one concern is that two of their three retention slots are already gone, meaning they can only pay down one of their potential trade candidates. That’s not the most ideal situation to be in.

The good news is that things look up beyond this season. Those retentions will be off the books, as is another $5MM from Duchene’s buyout charge. Those, coupled with their expiring deals, give Trotz around $40MM to work with next summer. Even with the high-priced spending from last summer, the Predators are well-positioned to try to make another splash or two over the next couple of years.

Photos courtesy of Jerome Miron and Mark J. Rebilas-Imagn Images.

Salary Cap Deep Dive: Minnesota Wild

September 1, 2025 at 6:58 pm CDT | by Brian La Rose 2 Comments

Minnesota Wild

Current Cap Hit: $91,088,165 (below the $95.5MM Upper Limit)

Entry-Level Contracts

D Zeev Buium (two years, $966.5K)
D David Jiricek (one year, $918.3K)
F Liam Ohgren (two years, $886.7K)
F Danila Yurov (three years, $950K)

Potential Bonuses
Buium: $1MM
Jiricek: $1MM
Ohgren: $500K
Yurov: $2MM
Total: $4.5MM

Yurov is coming off a bit of a tough year in the KHL after a breakout 49-point effort in 2023-24 but he’s still expected to come in and play a regular role with Minnesota right away. His $1MM in ‘B’ bonuses are unlikely while he’ll need to play regularly in the top six if he is going to have a shot at his $250K ‘A’ bonuses, of which there are four of them. Ohgren’s first season in North America didn’t go quite as well as the Wild had hoped. He was a solid scorer with AHL Iowa but didn’t fare particularly well with the big club. Projected as more of a depth player this season, his ‘A’ bonuses seem unlikely while he’d be trending toward a bridge deal if he winds up in that limited role this year.

Buium was a late-season addition, getting into four playoff games where he held his own. Without a ton of firepower on the back end, he should be able to play an important role this season, including seeing some action on the power play. Reaching a couple of his ‘A’ bonuses should be doable while if things go as planned, he could be the type of player that they want to sign long-term quickly. Jiricek, on the other hand, feels likely for a bridge as well. He has yet to establish himself as a full-time NHL player and while he should get there this year, that won’t be enough to land a long-term pact. If he can lock down a regular third-pairing spot, he could potentially double his current price tag although his bonuses are unlikely to be hit.

Signed Through 2025-26, Non-Entry-Level

D Zach Bogosian ($1.25MM, UFA)
G Filip Gustavsson ($3.75MM, UFA)
F Marcus Johansson ($800K, UFA)
F Kirill Kaprizov ($9MM, UFA)
F Vladimir Tarasenko ($4.75MM, UFA)
F Mats Zuccarello ($4.125MM, UFA)

The timing of the multi-year cap increase couldn’t have been any better for Kaprizov. Already poised for a multi-million-dollar raise, his market value will only go up now. Recent speculation has a possible offer landing in the $16MM per season range which feels a bit much on the high side but if it gets a deal done, expect GM Bill Guerin to do it. When healthy, he’s one of the elite wingers in the league. Tarasenko was brought in from Detroit in a cap-clearing move from the Red Wings and is coming off a rough year that only saw him record 33 points, the lowest full-season total of his career. A rebound this season could keep him in this price range but if he has a similar showing in 2025-26, landing half of this could be tough.

Zuccarello saw his production dip last season but he still managed 54 points, a solid return on the first season of this contract. Now 38, it’d be surprising to see him land another two-year pact but if both sides are happy, he could land another one-year agreement. His next deal would be a candidate to be bonus-laden if Minnesota needs some extra flexibility next summer with an overall price checking around this one. Johansson opted to take just above the minimum to ensure he stayed with the Wild. He probably could have beaten that on the open market with something more in the $1.5MM range based on the season he had but as long as he’s content in Minnesota, they could keep him around at a price close to the minimum if he has a similar role this season.

Bogosian wasn’t quite as impactful last season as he was in his first year with the team but he still held down a steady third-pairing role while taking a regular turn on the penalty kill. This type of salary for that type of role is reasonable value but it would be surprising if he landed this much on his next deal when he’s 36. By that point, he may be better off in a seventh defender role who steps in when injuries arise.

While plenty has been said about Kaprizov’s situation (and justifiably so), Gustavsson’s expiring contract also looms large. After a tough 2023-24 showing that saw him lose the starting job at times to Marc-Andre Fleury, he rebounded quite nicely, making a career-high 58 starts while finishing sixth in Vezina Trophy voting. The starting goaltender market has gotten a lot more expensive over the last 18 or so months and while he’s not in the same echelon as the starters who passed the $8MM mark recently (Linus Ullmark, Jeremy Swayman, Jake Oettinger, and Thatcher Demko), there’s a case to make that he’s in the tier below them. That could allow him to push for $7MM on a long-term agreement which would be another sizable jump on their books.

Signed Through 2026-27

F Ryan Hartman ($4MM, UFA)
D Jared Spurgeon ($7.575MM, UFA)
F Nico Sturm ($2MM, UFA)
G Jesper Wallstedt ($2.2MM, RFA)

Hartman has shown some flashes of being a legitimate top-six threat over his six seasons with the Wild which earned him this vote of confidence. However, the first year of the deal wasn’t great while he has now dealt with injury issues in four of those six years. Still, a center who has 20-goal upside when things are going well should be able to command at least a little more than this on the open market two years from now on another multi-year deal. Sturm was Minnesota’s most notable UFA signing this summer, coming over from Florida to help the penalty kill and play in the bottom six. He’ll need to get back into the 20-point range with Minnesota to avoid being cast more into the fourth-line role which would lower his market value.

Spurgeon has been a big-minute, all-situations player for a long time but it has started to catch up with him in recent years. They’ve managed his minutes a bit more lately to the point where he was fourth in ATOI among Minnesota’s blueliners. While that’s an appropriate role for his age, this contract is definitely on the expensive side for someone in that role. If there’s an extension two years from now, it could be worth closer to half this amount, including incentives.

Wallstedt’s deal was a headscratcher when it was signed and it looks even worse now. Following San Jose’s path when they signed Yaroslav Askarov early, he struggled considerably with AHL Iowa last season, posting a .879 SV%. Had they waited, they probably could have signed him for half this amount. Nonetheless, he’s still viewed as a quality prospect and if he performs to those expectations, they should still get a good return on this deal. He’ll need to cut into Gustavsson’s playing time if he wants to get more than an incremental raise in 2027.

Signed Through 2027-28

D Jonas Brodin ($6MM, UFA)
F Marcus Foligno ($4MM, UFA)
F Marco Rossi ($5MM, RFA)
F Yakov Trenin ($3.5MM, UFA)

Few players were in as much trade speculation as Rossi was this summer. For months, it had been well known that he wanted a long-term, big-money contract while Guerin’s preference was a bridge deal. A suitable trade offer wasn’t made, nor did an offer sheet materialize and in the end, Rossi moved toward Minnesota’s preferred option. Coming off a 60-point season, this isn’t bad value for the Wild and notably, the contract is back-loaded, carrying a $6MM salary in 2027-28; that number becomes his qualifying offer when he’ll also have arbitration rights. If all goes as planned in his development, the big payday coming his way will be even higher than the contract he was originally seeking this summer.

Foligno also got an early extension a couple of years back like Hartman did. Unlike Hartman, the offensive upside isn’t there as he has only reached 30 points once in his 14-year NHL career nor does he play center. He’s still an effective third liner but this is on the high side of things for someone who is best known for his physicality. Considering he’ll be 37 when his next contract starts, he’ll probably be year-to-year on his next deals at a lower cost than this. Trenin’s deal was baffling at the time as giving someone who is best suited as a fourth liner this term and money was not necessarily the best of ideas. Clearly, they were banking on a bounce-back offensively and that didn’t come. Trenin can contribute, sure, but his value might be closer to half of this.

Brodin has been a key shutdown defender throughout his 13-year NHL career, playing big minutes and anchoring the penalty kill. Those players typically don’t get big contracts but Brodin, being one of the better players in that role, was the exception with this deal. As market values increase with the cap, this contract will hold up just fine, as long as he stays healthy. Unfortunately, that has been a consistent challenge for him lately.

Signed Through 2028-29

F Joel Eriksson Ek ($5.25MM, UFA)
D Jacob Middleton ($4.35MM, UFA)

Eriksson Ek dealt with some injury issues last year (a common theme for core players on the Wild) but he remains a legitimate top-six center offensively while being one of the top defensive middlemen out there as well. That combination isn’t necessarily a prototypical number one center but it’s a role he often fills with Minnesota. If he was hitting free agency now, he could likely land a contract starting with an eight. This has been a big bargain for a few years and should continue to be moving forward.

Middleton begins this contract that was signed last summer on the heels of a career year. He wasn’t able to duplicate that last season but he was still a key top-four defender who handled some tough defensive minutes. At first glance, this deal might seem a little high but with where market values are going, this should be a fair-value contract even coming off the dip in production a year ago.

Signed Through 2029-30 Or Longer

F Matt Boldy ($7MM through 2029-30)
D Brock Faber ($8.5MM through 2032-33)

Boldy’s contract looked like it had the potential to be a team-friendly one when it was signed. Yes, there was some shared risk with a long-term deal signed when he had around 100 NHL games under his belt but if he lived up to his potential, it would be a favorable one for Minnesota. Now, in a cap environment that’s going to crank up much higher than we’ve seen, it’s even more of a club-friendly deal. He could surpass Eriksson Ek as their best contract before too long while he’s on track to hit double digits for an AAV on his next deal.

Faber had a fantastic rookie season, earning him this deal after just one year; like Boldy, Minnesota moved to sign him early. His sophomore year (played on his entry-level pact) wasn’t quite as high-end but he was still a high-impact performer. It might take a year or two for the offense to come back but this deal should age well while it’s already being used as a new benchmark in contract talks for other young defenders.

Still To Sign

None

Buyouts

F Zach Parise ($833.3K to 2028-29)
D Ryan Suter ($833.3K to 2028-29)

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

$1.1MM

Best Value: (non-entry-level) Eriksson Ek
Worst Value: Trenin

Looking Ahead

Heading into the summer, with the big dead cap charges gone from Suter and Parise’s deals, Minnesota had the flexibility they’d been lacking for a while now. They ultimately didn’t do much with it. The benefit to that is that with more than $4MM in room, they’re in a good spot to bank some space early and then have ample wiggle room to take a big swing or two in the second half if the right trade materializes. If not, they’ll be well-positioned to absorb the entry-level bonuses and avoid the overage penalty for next season.

Speaking of next summer, they have nearly $40MM in cap space, more than half of which will be needed to re-sign Kaprizov and Gustavsson. But after that, they’ll only have a handful of spots to fill. Things look even cleaner for the following year. After some lean years in their spending room, the Wild now have a very promising cap outlook.

Photos courtesy of Jerome Miron and Nick Wosika-Imagn Images.

Salary Cap Deep Dive: Dallas Stars

August 29, 2025 at 9:00 pm CDT | by Brian La Rose Leave a Comment

Dallas Stars

Current Cap Hit: $95,094,916 (below the $95.5MM Upper Limit)

Entry-Level Contracts

D Lian Bichsel (two years, $918K)

Potential Bonuses
Bichsel: $500K

Bichsel split time between Dallas and AHL Texas last season before being a regular for them in the playoffs, albeit with limited playing time. He should crack the roster on a full-time basis this year but still in a third-pairing role, which doesn’t bode well for reaching his bonuses. Given their longer-term cap situation which we’ll get into as we go along, it would be surprising if his next deal isn’t a short-term bridge contract, likely around the $2MM range.

Signed Through 2025-26, Non-Entry-Level

F Nathan Bastian ($775K, UFA)
F Jamie Benn ($1MM, UFA)
F Mavrik Bourque ($950K, RFA)
D Thomas Harley ($4MM, RFA)
D Nils Lundkvist ($1.25MM, UFA)
D Alexander Petrovic ($775K, UFA)
F Jason Robertson ($7.75MM, RFA)

Potential Bonuses
Benn: $3MM

Robertson’s situation has garnered plenty of attention with his name coming up in trade speculation. He’s averaging over a point per game for his career and has notched at least 79 points in four straight seasons. That’s top-line numbers and he’ll be looking for top-line money next summer which should push his cap charge well past the $10MM mark. Notably, his qualifying offer is $9.3MM with salary arbitration rights. Benn re-signed this bonus-laden deal to allow Dallas to keep cap-compliant this season, one that is team-friendly even with the bonuses. $2MM of that is games-played based while the other $1MM is based on team playoff success. If he wants to remain with the Stars beyond this season, it’s probably going to be on a similarly structured agreement.

Bourque was a speculative offer sheet candidate this summer but agreed to this deal before the draft to take that off the table. Had he tested restricted free agency, he’d have landed more than this but the one-year term sets him up for arbitration eligibility and a shot to triple this or more next summer if all goes well. Bastian was a recent signing from the Devils and has been a physical fourth liner throughout his career but his offensive production has largely been limited. That should keep him around the minimum salary barring a big jump in output.

While Robertson’s case has garnered the majority of the attention for next year’s free agency, Harley’s is arguably just as significant. He showed last season that his 2023-24 breakout effort was no fluke, taking on an even bigger role and being just as productive. He is now a legitimate top-pairing player. As a result, this could be a situation where his pay increase next summer is higher than what Robertson’s is going to be. Noah Dobson’s eight-year, $9.5MM AAV contract signed this summer looms large as a viable comparable while ticking past $10MM per season is a real possibility as well. Notably, he’s not UFA-eligible until 2029 so one option that could be considered is another two-year bridge deal more in the $7MM range which could allow their reported desire to work within an internal cap to happen. That would buy them a bit of short-term flexibility at a time when cap space is going to be tight so GM while Jim Nill likely doesn’t prefer to go that way, he might have to.

Lundkvist looked to be heading toward a non-tender to duck arbitration rights for the second straight year before signing this contract for the same amount he made last season. Between some struggles and injuries, 2024-25 was largely a write-off so he’s getting near the point of either needing to take that step forward or understanding that he might not be more than the depth player he currently is. Petrovic spent most of last season in the minors before playing in most of the playoffs in Dallas which should give him a leg up for a full-time spot to start this year. Even so, his track record has only been that of a depth defender thus far and at 33, that’s unlikely to change. He should stay around the minimum salary moving forward although a full year in the NHL could flip his next deal to a one-way pact.

Signed Through 2026-27

F Oskar Back ($825K, UFA)
F Colin Blackwell ($775K, UFA)
G Casey DeSmith ($1MM, UFA)
D Ilya Lyubushkin ($3.25MM, UFA)
F Tyler Seguin ($9.85MM, UFA)
F Sam Steel ($2.1MM, UFA)

A hip issue sidelined Seguin for most of last season although he was a little over a point per game in his limited action. However, he has generally been more in the 50-point range in recent years and this price tag for that type of production isn’t great. He’ll be 35 when his next deal starts and while a multi-year pact should still be doable then, it’s going to come with a multi-million-dollar drop in AAV. Steel inked this deal back before the trade deadline in the midst of his fourth straight season with at least 20 points. Between that and his ability to kill penalties, he should be able to provide decent value on this contract but unless his point production starts to go up, he might not be able to go too much higher than this.

Back had a decent rookie year, getting into 73 games while holding his own in a bottom-six role to secure this deal at a rate that will be below the minimum salary next season. Assuming he remains a regular in this type of role for them, this should work out just fine while Back should be able to push more into the $1.25MM range on his next deal. Blackwell fit in nicely in a depth role last season, earning this new contract along the way. While he had a couple of years in the past with a seven-figure salary, he’s someone who should be staying around the minimum salary on any future contracts.

Lyubushkin was brought in to bring some physicality to the back and stabilize the bottom pairing. He was able to do that for the most part although this contract is on the higher side for that type of role which led to some speculation about his future when they needed to open up cap space. It would be surprising to see him beat this by any significant amount two years from now but another contract in this price range might be doable.

DeSmith is certainly at the lower end of the salary scale for backup goalies as he opted for stability and a winning environment over trying to get the highest price tag. He certainly had a solid first year with numbers that should have him toward the higher end of the backup scale (more in the $3.5MM territory). He’ll be 36 when this deal expires so it’s unlikely that he’ll find a contract in that range but value-wise, he should double this if he looks for top dollar next time out.

Signed Through 2027-28

F Radek Faksa ($2MM, UFA)

Faksa returns after a one-year stint in St. Louis after Dallas needed to clear his contract last summer. While he showed some offensive upside early in his career, he has settled into more of a pure checking role in recent seasons. Between his penalty killing utility and his faceoff skills, he should be able to provide a good return on this contract, even with the points remaining hard to come by. But unless his production improves, he likely won’t command much more than this moving forward.

Signed Through 2028-29

F Matt Duchene ($4.5MM, UFA)
D Miro Heiskanen ($8.45MM, UFA)

With Duchene making it known that he didn’t want to settle for another one-year contract this time around, it looked like his days could be numbered. And then he signed a below-market deal to stay. The trade-off is four years for a 34-year-old which isn’t ideal but he’s coming off an 82-point effort last season and could have plausibly surpassed $7MM on a multi-year contract (though not four years) on the open market.

Heiskanen is the potential internal cap on Harley’s contract and understandably so given his overall track record. (Whether a different salary cap environment makes that feasible remains to be seen.) He’s coming off an injury-riddled year but he’s an all-situations number one defenseman and the market for those has easily pushed past the $10MM mark. He’s heading for another big raise as things stand.

Signed Through 2029-30 Or Longer

F Roope Hintz ($8.45MM through 2030-31)
F Wyatt Johnston ($8.4MM through 2029-30)
D Esa Lindell ($5.25MM through 2029-30)
G Jake Oettinger ($8.25MM through 2032-33)
F Mikko Rantanen ($12MM through 2032-33)

It was quite an interesting year for Rantanen who couldn’t agree to terms with Colorado and didn’t want to agree to terms with Carolina, only to go to Dallas and sign a contract that was believed to be in the neighborhood of what the Avs were offering. That deal was a record-setting pact for a winger (since matched by Mitch Marner in Vegas). Rantanen has consistently been one of the top-scoring wingers in the NHL in recent years and while he didn’t go great in the regular season after the first trade, he showed his ability to carry a line in the playoffs. As is often the case with these types of contracts, surplus value will be hard to come by but as long as he remains the type of player he has been for a lot of his career, this will hold up well.

Hintz isn’t necessarily viewed as a true number one center but with a forward group that’s more driven from the wing, he fits the bill just fine while averaging 33 goals per season over the last four years. It would be surprising to see his output jump up to a true top level but a steady and reliable 70-point center like he is would probably have gotten more than this on the open market this summer. It feels like Hintz’s deal was the internal cap for Johnston, who signed a contract that only bought Dallas one additional year of club control. That will give them a better shot at keeping the core intact, of course, while setting Johnston up to reach unrestricted free agency at 27. That contract could be a whopper if he continues to progress; in a more inflated cap environment, Rantanen’s price tag could be within reach if he keeps improving.

Lindell has been a strong defensive defender throughout his NHL career while typically chipping in with a point total in the mid-20s. He’s capable of playing top-pairing minutes although in the long run, he might be best off in a number three role. As things stand, this is a deal that already holds up well and should continue to do so for the foreseeable future. Already 31, he’ll be 36 when his next contract starts so while a small raise might come his way, it shouldn’t be too much higher, especially on a multi-year pact.

After some high-end performances to start his career, Oettinger hasn’t been able to get quite back to that level over the last couple of years. That said, he’s still a well-above-average starter locked up at a rate we’ve seen a few starters of his caliber receive recently. As long as he performs at a top-10 level or so, this contract should hold up pretty well.

Still To Sign

None

Buyouts

D Ryan Suter ($1.433MM in 2025-26)

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

$368,250

Best Value: (non-entry-level) Harley
Worst Value: Seguin

Looking Ahead

As a result of having several players on contracts considerably below market value, the Stars will enter the season with one of the strongest rosters on paper once again. But they won’t be entering it with much cap space unless they’re willing to go one or two skaters below the maximum on the active roster. That still won’t be enough to bank enough in-season room to do much but that would at least buy them a little wiggle room for injuries.

The cap crunch isn’t going away next summer, either. Harley and Robertson will make navigating the 2026-27 Upper Limit rather difficult, even with an $8.5MM increase. However, the year after that, getting Seguin off the books coupled with a projected $9.5MM bump to the cap ceiling should give them some much-needed wiggle room. But if they wind up having to bridge Harley next summer, that flexibility could be short-lived. That all said, it’s still a good problem to have given that they should once again be a contender in the West; it’s better to have a good cap-crunched roster than a lot of cap space with a weaker group.

Photos courtesy of Jerome Miron and Perry Nelson-Imagn Images.

Salary Cap Deep Dive: Colorado Avalanche

August 27, 2025 at 7:59 pm CDT | by Brian La Rose 1 Comment

Colorado Avalanche

Current Cap Hit: $94,170,000 (below the $95.5MM Upper Limit)

Entry-Level Contracts

F Ivan Ivan (one year, $835K)

There was no shortage of entry-level players trotted out on the fourth line at times last season and chances are that some of them will be back and forth once again. But Ivan got into 40 games with the Avs in 2024-25 and projects to have a similar role this season. Given his limited output, he’s someone who shouldn’t be able to command much more than this on his next deal, especially if he lands a one-way pact.

Signed Through 2025-26, Non-Entry-Level

D Brent Burns ($1MM, UFA)
F Jack Drury ($1.725MM, RFA)
F Daniil Gushchin ($775K, RFA)
F Joel Kiviranta ($1.25MM, UFA)
D Sam Malinski ($1.4MM, UFA)
F Martin Necas ($6.5MM, UFA)
F Victor Olofsson ($1.575MM, UFA)
G Scott Wedgewood ($1.5MM, UFA)

Potential Bonuses
Burns: $4MM

After being unable to agree to terms with Mikko Rantanen on an extension and not wanting to run the risk of losing him for nothing in free agency, GM Chris MacFarland opted to move him for Necas (and Drury). A year later, they might be in the same situation. Necas is coming off a career year and couldn’t agree to terms on a long-term pact last summer in Carolina with the belief that he wanted to test the open market. Now, that price tag has only gone higher given the year he had and the pending changes to the cap. It wouldn’t be shocking to see a long-term contract creep close to the $10MM mark now and if Colorado doesn’t want to pay that, they might have to look into moving him during the season.

Drury wasn’t as impactful of an acquisition as Necas but he certainly gave them some needed extra depth down the middle. He wasn’t able to repeat his 2023-24 performance offensively, however, which could limit his earnings upside. His qualifying offer checks in at $1.675MM with arbitration rights and while he should be able to beat that on another short-term deal, it won’t be a significant increase barring a breakout year. Olofsson had a decent season with Vegas in a supporting role and should have a similar type of role this season. He has had to settle for one-year deals in his first two trips through unrestricted free agency. Barring an uptick in production, he’ll either stay on that path or have to settle for a multi-year pact at a lower price tag than the $4.75MM he was making at the end of his time with Buffalo.

Kiviranta had a career year last season, notching 16 goals. By comparison, his previous personal best in points was 11. Not surprisingly, teams weren’t willing to pay him much more than his usual contract, being unconvinced that this improvement is repeatable. If he can match that this season, he might be able to land closer to $2MM. If he goes back to normal, he’ll be back in league minimum territory for 2026-27. Gushchin is one of many players who will be fighting for a back-of-the-lineup spot but given his production in the minors last year with AHL San Jose and the fact he’s now waiver-eligible, he might have a small leg up on the competition for a spot. Given his limited NHL opportunities so far and the likelihood of limited playing time given how Jared Bednar deploys his fourth line, Gushchin should stay around the minimum salary for next season even if he locks down a roster spot.

Burns comes over from Carolina in a deal that was set up to work within Colorado’s limited cap flexibility. Of the $4MM in bonuses, he’ll each $3MM with his tenth game of the season while the other million will be harder to reach (70 GP with over 23 minutes per contest). While he’s 40, he has shown himself to be capable of still playing in the top four which should make his base salary quite a bargain; they’ll be paying off the bonuses next season though. This type of contract structure could come his way again if he plays beyond this season. Malinski held his own in his first taste of full-time NHL action last season on the third pairing. If he has that same role this year, he should push past the $2MM mark if he remains as effective as he was in 2024-25.

Wedgewood signed this contract with Nashville last summer but he wasn’t there for long, being moved to Colorado not even two months into the season. He thrived in limited action with the Avs and while that probably isn’t repeatable, he’s establishing himself as a late-bloomer in terms of being a legitimate backup option. That should be enough to push him past $2MM per season on his next deal if he can give them even an adequate level of goaltending this year.

Signed Through 2026-27

F Ross Colton ($4MM, UFA)
D Samuel Girard ($5MM, UFA)
F Artturi Lehkonen ($4.5MM, UFA)
D Cale Makar ($9MM, UFA)
D Keaton Middleton ($775K, UFA)

Lehkonen has found another level offensively since being acquired from Montreal while still being a strong defensive player. Now producing as a top-six forward (and playing top-line minutes), his price tag should shoot up on his next deal. Given his quality of linemates though (a quality that few teams can match), that could be a limiter on a new contract, especially if he makes it to the open market. If Colorado re-signs him, a cap charge starting with a six should be doable. Colton wasn’t able to sustain the hot start he had last season but stayed within a similar goal and point-per-game range as he had the previous three years. At this point, that starts to become the trend, not the outlier. He didn’t play much at center last season but his ability to do so will also be a boost to his value. As long as he stays around the half-point-per-game range, Colton should be able to land closer to $5MM on his next contract knowing the demand that will be out there for help down the middle.

It’s hard for a $9MM contract to be a bargain but Makar more than fits the bill. At a time when older top blueliners landed $11MM or more several years ago, Makar has outproduced them since then and has a couple of Norris Trophies under his belt, putting his contract several million below market value already. He will be in line to sign a record-setting contract for a defenseman and while the Avs might prefer to operate on an internal cap and not have him make more than their top forward, that could be a tough sell knowing where the Upper Limit of the cap will be in 2027 (around $113.5MM). $14MM or $15MM on a max-term agreement certainly feels achievable at this point, especially as new benchmarks get set over the next couple of years.

Girard has been a steady second-pairing defender for the bulk of his eight-year career at a time when consistency is highly valued. However, given that he is one of the smallest blueliners in the NHL, his name has been speculated as a possible trade candidate for a while now. Meanwhile, with a lot of teams currently aiming for their back ends to get bigger, that could limit Girard’s earnings potential. Based on his performance, a raise past $6MM should be doable but if his market cools because of his size, that could make reaching that a challenge. Middleton is a depth defender who projects to be the seventh option more often than not. Those players tend to stay close to the minimum salary and that should be the case for him as well on his next contract.

Signed Through 2027-28

D Josh Manson ($4.5MM in 2025-26, $3.95MM in 2026-27 and 2027-28)
F Brock Nelson ($7.5MM, UFA)

Nelson didn’t exactly play great after being acquired but with the Avalanche looking to shore up a second center position that has been in flux as of late, they paid a high price to keep him from hitting the open market. Frankly, given the dearth of impact centers in this year’s class, he likely would have received this or more had he tested free agency. He’ll be 36 (nearing 37) when this deal is up and assuming his production starts to decline by then, he might be more in the $4MM to $5MM range on his next contract which could still be a multi-year pact.

Manson is still a capable physical defensive defender when healthy. But staying healthy has been an issue as he hasn’t made it to 70 games in a season since 2018-19 and that’s factored into the cost of the extension, a small pay cut. It’s on the high side for someone who should be more of a fifth option by then but if they can afford it, it’s not a bad luxury to have.

Signed Through 2028-29

F Gabriel Landeskog ($7MM, UFA)

After missing the better part of three years with continued knee problems, Landeskog returned to the lineup in the playoffs and was pretty impactful considering the layoff. It remains to be seen how he can hold up over a full season and in turn how much value he can still provide relative to his price tag. If he can get back to playing at the level he was before, this should hold up just fine but it’s a big if. And if the knee issues return, he’s a candidate to land back on LTIR.

Signed Through 2029-30 Or Longer

G Mackenzie Blackwood ($5.25MM through 2029-30)
F Parker Kelly ($825K in 2025-26, $1.7MM from 2026-27 through 2030-31)
F Nathan MacKinnon ($12.6MM through 2030-31)
F Valeri Nichushkin ($6.125MM through 2029-30)
F Logan O’Connor ($2.5MM through 2030-31)
D Devon Toews ($7.25MM through 2030-31)

MacKinnon signed this record-setting deal back in 2022 and the record didn’t last for long. Nevertheless, he remains one of the NHL’s premier players, a title he should be able to hold for several more years. Like Makar, despite the high price tag, this is already a below-market contract and should be for a while yet. When Nichushkin has been available to play, he has provided a strong return on this contract, producing at a top-line level. However, between injuries and time away in the Player Assistance Program, he hasn’t been available often enough. If he can be in the lineup more often, this will be a team-friendly deal.

O’Connor has been a reliable checker throughout his career and over the past few seasons, he has produced more than 20 points which helped him secure this contract. He plays third-line minutes overall so as long as he can hold down that role and this type of production, this deal should hold up well for Colorado, especially in an inflationary cap environment. Kelly did well in his first season with Colorado, giving the fourth line some grit and a bit of offensive production, earning this extension. For a fourth liner who can play center, this is a more than reasonable price tag with the cap increasing.

Toews doesn’t get a ton of attention with Makar also in the fold but he has turned into a legitimate top-pairing blueliner, capable of playing in all situations. Like Makar, he’s already several million below market value, a gap that will only increase in the coming years. There’s a good chance he’ll be their best value contract before too much longer.

Blackwood got off to a decent start, relatively speaking, for San Jose before being moved to Colorado where a solid early stretch with them earned him this extension. It seemed a bit too early and a little risky given that he hasn’t had a lot of success as a starter in his career thus far. On the other hand, we’ve seen less-proven netminders crack the $5MM mark in recent years so based on the market, this one was fair, but still surprising.

Still To Sign

None

Buyouts

None

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) Makar
Worst Value: Manson

Looking Ahead

After years of operating in LTIR, Colorado has a pathway toward avoiding that although a carryover injury for O’Connor could make that tricky in the short term. But assuming they stay relatively healthy, MacFarland should be able to bank a bit cap room before the trade deadline, either to use on late-season additions or simply to absorb some of the bonuses that Burns will reach within the first few weeks of the season. They’re not in a spot where they’ll be able to afford a splashy pickup but they should be in better shape than they have been at times when Landeskog was on LTIR.

They’re not in a spot where they’re going to be able to bank a lot of extra space, however. Necas will be a big-ticket signing (or they’ll need a similar replacement), eating likely more than one-third of their current 2026-27 space with at least half a dozen players to sign beyond that. One year later, Makar’s extremely expensive contract will hit the books, putting them well past $65MM in spending on 10 players (more if Necas is ultimately re-signed or replaced) and that’s with Lehkonen and Girard also eyeing new, more expensive deals as well. There’s a way to keep the core together but augmenting that group will be hard over the next few years.

Photos courtesy of Perry Nelson and Ron Chenoy-Imagn Images.

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Salary Cap Deep Dive 2025

Detroit Red Wings

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Buyouts

Retained Salary Transactions

Carryover Bonus Overage Penalty

Looking Ahead

Buffalo Sabres

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Buyouts

Retained Salary Transactions

Carryover Bonus Overage Penalty

Looking Ahead

Boston Bruins

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Buyouts

Retained Salary Transactions

Carryover Bonus Overage Penalty

Looking Ahead

Winnipeg Jets

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Still To Sign

Buyouts

Retained Salary Transactions

Carryover Bonus Overage Penalty

Looking Ahead

Utah Mammoth

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Still To Sign

Buyouts

Retained Salary Transactions

Carryover Bonus Overage Penalty

Looking Ahead

St. Louis Blues

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Still To Sign

Buyouts

Retained Salary Transactions

Carryover Bonus Overage Penalty

Looking Ahead

Nashville Predators

Entry-Level Contracts

Signed Through 2025-26, Non-Entry-Level

Signed Through 2026-27

Signed Through 2027-28

Signed Through 2028-29

Signed Through 2029-30 Or Longer

Still To Sign

Buyouts