Two-Way Deals: 7/1/25
As major signings come in around the NHL today with the 2025-26 league year beginning, teams are shoring up their minor-league depth as well by signing players to two-way contracts. We’re keeping track of those signings today in this article, which will be continuously updated. Deals are one year unless otherwise noted.
Boston Bruins
F Riley Tufte ($775K NHL) – Ty Anderson of 98.5 The Sports Hub
D Jonathan Aspirot ($775K NHL) – Ty Anderson of 98.5 The Sports Hub
G Luke Cavallin ($775K NHL) – Ty Anderson of 98.5 The Sports Hub
Buffalo Sabres
F Riley Fiddler-Schultz ($865K NHL/$90K SB/$35K PB/$85K AHL) – PuckPedia // two years, entry-level
F Carson Meyer ($775K NHL/$350K AHL Y1 – $375K AHL Y2) – PuckPedia // two years
D Mason Geertsen ($775K NHL/$425K AHL) – Elliotte Friedman of Sportsnet // two years
D Zachary Jones ($900K NHL/$550K AHL) – PuckPedia
D Zach Metsa ($775K NHL/$250K AHL/$325K gt’d) – PuckPedia
Calgary Flames
D Nick Cicek ($775K NHL) – team release
Carolina Hurricanes
G Amir Miftakhov ($775K NHL/$100K AHL/$240K gt’d) – PuckPedia
Chicago Blackhawks
F Dominic Toninato ($850K NHL) – team release // two years
Colorado Avalanche
F T.J. Tynan (unknown) – team release
D Jack Ahcan (unknown) – team release
D Ronald Attard ($775K NHL/$450K AHL/$500K gt’d) – PuckPedia
Columbus Blue Jackets
F Owen Sillinger (unknown) – team release
D Christian Jaros (unknown) – team release
Dallas Stars
D Niilopekka Muhonen (unknown) – team release // three years, entry-level
Edmonton Oilers
D Riley Stillman ($775K NHL/$475K AHL) – PuckPedia // two years
G Matt Tomkins ($775K NHL/$400K AHL/$450 Y2 gt’d) – PuckPedia // two years
Florida Panthers
F Nolan Foote ($775K NHL/$150K AHL/$250K gt’d) – PuckPedia
F Jack Studnicka ($775K NHL/$450K AHL) – Chris Johnston of TSN/The Athletic
G Brandon Bussi ($775K NHL/$400K AHL) – PuckPedia
G Kirill Gerasimyuk (unknown) – team release // two years, entry-level
Los Angeles Kings
F Cole Guttman ($775K NHL/$450K Y1 – $475K Y2 AHL/$475K gt’d Y1 – $500K gt’d Y2) – PuckPedia // two years
Minnesota Wild
F Tyler Pitlick ($775K NHL/$300K Y1 – $350K Y2 AHL/$325K gt’d Y1 – $375K gt’d Y2) – PuckPedia // two years
D Ben Gleason ($800K NHL/$475K AHL) – PuckPedia
Montreal Canadiens
F Alex Belzile (unknown) – team release
D Nathan Clurman ($775K NHL/$125K AHL/$140K gt’d) – PuckPedia
New Jersey Devils
D Calen Addison ($775K NHL/$325K AHL/$400K gt’d) – PuckPedia
F Angus Crookshank ($775K NHL/$425K AHL/$475K gt’d) – PuckPedia // two years, one-way in 2026-27
New York Islanders
F Matthew Highmore (unknown) – team release
D Ethan Bear ($775K NHL/$325K AHL/$425K gt’d) – PuckPedia
D Cole McWard (unknown) – team release
New York Rangers
D Derrick Pouliot ($775K NHL/$400K AHL/$425K gt’d Y1 – $450K gt’d Y2) – PuckPedia // two years
Ottawa Senators
F Wyatt Bongiovanni ($775K NHL/$160K AHL) – PuckPedia
F Olle Lycksell ($775K NHL/$450K AHL/$500K gt’d) – Darren Dreger of TSN
Philadelphia Flyers
F Lane Pederson ($775K NHL/$525K AHL) – PuckPedia
San Jose Sharks
F Jimmy Huntington (unknown) – team release
F Samuel Laberge (unknown) – team release
F Colin White ($775K NHL/$425K AHL/$475K gt’d) – PuckPedia
D Cole Clayton (unknown) – team release
St. Louis Blues
F Matt Luff ($775K NHL/$400K AHL) – PuckPedia
Tampa Bay Lightning
F Nicholas Abruzzese (unknown) – team release
F Tristan Allard (unknown) – team release // two years, entry-level
F Boris Katchouk (unknown) – team release
D Simon Lundmark ($775K NHL/$250K AHL/$350K gt’d) – PuckPedia // two years
G Ryan Fanti ($775K NHL/$80K AHL) – PuckPedia
Utah Mammoth
F Kailer Yamamoto ($775K NHL/$500K AHL) – PuckPedia
D Scott Perunovich ($775K NHL/$400K AHL/$500K gt’d) – PuckPedia
Vancouver Canucks
F Joseph LaBate ($775K NHL/$350K AHL) – PuckPedia
F Mackenzie MacEachern ($775K NHL/$575K AHL) – PuckPedia // two years
D Jimmy Schuldt ($775K NHL/$500K AHL) – PuckPedia // two years
Winnipeg Jets
F Phillip Di Giuseppe ($775K NHL/$450K AHL) – PuckPedia
D Kale Clague (unknown) – Elliotte Friedman of Sportsnet
Lightning To Sign Pontus Holmberg To Two-Year Deal
The Lightning are picking up forward Pontus Holmberg after he went unqualified by the Maple Leafs yesterday, according to Elliotte Friedman of Sportsnet. It’s a two-year deal worth $1.55MM per season, per Darren Dreger of TSN.
As expected, the Lightning are operating on the fringes of this year’s free agent market. In Holmberg, they have added a candidate with low risk and low reward, who can be easily placed in their bottom six.
Tampa Bay’s front office appears to value Holmberg’s potential for lineup flexibility. He’ll likely slot into a third or fourth‑line role, bringing speed at even strength and depth on the penalty kill. Despite scoring a lowly 19 goals and 49 points through 159 career contests, Holmberg averaged a 92.0% on-ice save percentage at even strength with Toronto.
The Lightning came into the offseason with a mandate to build up the team’s bottom-six, and adding Holmberg certainly helps. It’s an open debate whether he’s earned a consistent spot on the roster over a player like Mitchell Chaffee, but Holmberg could replace him if necessary.
Should Holmberg fail to capitalize during his new two-year agreement with the Lightning, it very well could spell the end of his playing career in North America. It likely wouldn’t take him long to find a landing spot overseas, as Holmberg spent much of his professional career with the SHL’s Växjö Lakers HC before coming to the Maple Leafs organization.
PHR’s Brennan McClain contributed significantly to this article.
Lightning Re-Sign Gage Goncalves To Two-Year Contract
According to a team announcement, the Tampa Bay Lightning have re-signed restricted free agent forward Gage Goncalves to a two-year, $2.4MM contract, with an AAV of $1.2MM.
Goncalves did well in his first real opportunity with the Lightning last season. Typically in a bottom-six role, Goncalves scored eight goals and 20 points in 60 contests, averaging 12:48 of ice time per game. Even in limited action and ice time, Goncalves’ physicality came through, finishing eighth on the team in hits with 71 checks.
A natural winger, he’s expected to remain in a similar role with the Lightning next season, making this a fair contract for both sides. Goncalves could theoretically move up the lineup in case of injury. Still, he doesn’t represent a better option than any of Tampa Bay’s other available wingers when the team is healthy.
Fortunately for the Lightning, the deal will keep Goncalves in Florida until his age-26 season, and they’ll still have another year of team control when Goncalves becomes a restricted free agent after the 2026-27 season. He’ll become eligible for arbitration when that time comes.
Given their lack of available cap space this offseason, the best path forward for the Lightning was retaining Goncalves, rather than finding someone to replace him in the team’s bottom six. He had fairly quality possession metrics with a 50.4% CorsiFor%, and held his own in the defensive zone with a 92.2% on-ice save percentage at even strength.
PHR’s Brennan McClain contributed significantly to this article.
Lightning, Conor Sheary To Mutually Terminate Contract
June 30: Sheary has cleared unconditional waivers and will have his contract terminated, per Friedman.
June 29: Lightning winger Conor Sheary hit unconditional waivers Sunday after asking for a contract termination, Elliotte Friedman of Sportsnet reports.
While it may initially come across as a favor done by Sheary to the Lightning to not force the team to buy out the final season of his contract at a $2MM cap hit, it’s not that cut and dry. Sheary was due $1.5MM in base salary for 2025-26, which would have resulted in a $503K cap hit for the Lightning in each of the next two seasons if he was bought out. That’s barely any cap savings compared to if they buried Sheary in the minors (a cap hit of $850K), so they likely would have pursued that option instead of being on the hook for an additional season with a buyout.
Sheary, understandably, desires a chance to crack an NHL roster and wasn’t particularly amenable to that solution. Instead, he’ll walk away from $1.5MM in guaranteed money and become an unrestricted free agent while the Lightning clear his cap impact from next season’s books completely. In return, Sheary gets the chance to return to a full-time NHL role next season.
The 33-year-old has been a rare free-agent bust for Tampa general manager Julien BriseBois. He was signed to a three-year, $6MM contract in 2023 in the hopes that the diminutive winger could provide some affordable depth scoring and perhaps even flex into a top-six role. Instead, Sheary was relegated to the press box by the end of 2023-24 and spent most of this past season on assignment to AHL Syracuse after clearing waivers a few weeks into the campaign.
Sheary ends his two-year run in Tampa with a 4-11–15 scoring line in 62 games, logging a minus-five rating while averaging 11:07 of ice time per game. Only five of those appearances came this season, and he didn’t record a point in any of them. The veteran of nearly 600 NHL games took his minor-league assignments in stride and was an extremely important player for Syracuse, ranking among the AHL’s top producers with 61 points (20 G, 41 A) and a +15 rating in 59 games.
That showing demonstrated the Massachusetts native may still have the chops to be a third-line scoring piece at the NHL level, even if the fit in Tampa wasn’t a good one for whatever reason. Even with his recent poor run of production, he still averages 17 goals and 37 points per 82 games over his NHL career. That’s a resume a scoring-needy team will take a flyer on, even if he isn’t in a position to command much more than a league minimum salary. His two Stanley Cup rings with the Penguins in 2016 and 2017 will certainly help his case, too.
Once Sheary’s contract officially comes off the Lightning’s books tomorrow, the Bolts will have nearly $5.5MM in cap space with four open roster spots to fill, according to PuckPedia. Their only notable RFA to re-sign is forward Gage Goncalves, who AFP Analytics projects will land a one-year deal at $1.2MM. That leaves a roughly $4MM budget for Tuesday’s free agent frenzy, in which they’ll look to add a few depth skaters, considering no core pieces are on expiring deals.
Image courtesy of Kim Klement Neitzel-Imagn Images.
Lightning Hitting A Roadblock In Howard Trade Talks
It felt like the draft might have been the right time for the Lightning to move prospect Isaac Howard after the 2022 first-rounder indicated that he wouldn’t sign with Tampa Bay. However, GM Julien BriseBois indicated to reporters including Eduardo A. Encina of the Tampa Bay Times that they’re at a bit of a roadblock. While there are teams offering up a strong enough return for his services, they haven’t been able to work out a deal with Howard. Meanwhile, teams that Howard is willing to sign with haven’t offered up enough of a return yet. As things stand, the 21-year-old is set to return to Michigan State for his senior year and if he ultimately becomes a free agent next year, Tampa Bay would receive the 31st pick of the second round (63rd overall) as compensation.
Lightning Share Plans, Expectations For Free Agency
The Tampa Bay Lightning are approaching July 1st with only three notable pending-free agents. That short list has made the summer easy to forecast for Bolts general manager Julien BriseBois, who broke down the team’s upcoming expectations to Diandra Loux of The Hockey News. He most notably shared that each of Cam Atkinson, Nicklaus Perbix, and Luke Glendening are expected to hit the open market on July 1st. All three players are set to become unrestricted free agents.
The season-long impact of the three names varied quite widely. Perbix served as a bottom-pair defender for 74 games of the regular season. He recorded a meager 19 points, 20 penalty minutes, and plus-eight while averaging just under 15 minutes of ice time each game. Glendening was also a nightly fixture of the Bolts lineup, stepping into 77 games as the team’s fourth-line centerman. He managed just seven points and a minus-nine on the year, but did offer a staggering 57 percent faceoff win-rate and 105 hits on the full year. Those marks were strong enough to hold down a role in Tampa Bay’s bottom-end – a sentiment that can’t be shared by 36-year-old winger Atkinson. Despite over-800 career games in the NHL, Atkinson found himself facing routine healthy scratches and assignments to the minor-leagues in the season’s second-half. He finished the year with just nine points and a minus-four in 39 NHL games.
Perbix should command a reasonable market in free agency. He’s far from the most explosive defender, but has rivaled 20 points and a positive plus-minus in each of his first three seasons in the NHL. He is only 26 years old, and could offer a new club with the prime years of his career on a new deal. While he negotiates that contract, Glendening and Atkinson will grapple with the thought of retirement. Both players turned 36 after the end of the season, and are now faced with the task of convincing a team they’re still worth depth money. Glendening could win that argument on the back of his continued faceoff wins, and physical role, but it could be an uphill battle for the undersized Atkinson. Atkinson has appeared in 13 seasons and 809 NHL Games, while Glendening has appeared in 12 seasons and 864 games.
BriseBois also shared that the team isn’t expecting to make much of a splash when the market opens up. He told Loux that they underwent a massive change last summer – swapping franchise icon Steven Stamkos for Jake Guentzel through a series of moves. The GM emphasized that teams can’t go through changes of that scale each season, which could lead to a “quiet” summer. Tampa Bay will enter July 1st with just $3.48MM in projected cap space, per PuckPedia. Without a cap-clearing move, it’s unlikely that budget is enough to swing much more than a depth contract before Tampa Bay begins thinking about a cap cushion for next season.
But while they won’t be too active on the open market, BriseBois continued by directly sharing that the Bolts do plan to re-sign defenseman Ryan McDonagh when he hits free agency in 2026. McDonagh has played through six seasons and 349 games with the Tampa Bay Lightning, as part of a career that’s spanned 15 seasons and 1,010 games. He posted an impressive 31 points, 22 penalty minutes, and league-high plus-43 while appearing in all 82 games of the 2024-25 season. It was yet another strong year for the iron-man McDonagh – who has posted at least 25 points and a high plus-minus through three of the last four seasons. McDonagh also recently turned 36 years old, but has so far shown no signs of slowing down. He averaged 19 minutes of ice time and scored three points through five postseason games. So long as he stays on course, it seems the Lightning are prepared to re-up McDonagh on a manageable and short-term deal at age-37 next summer.
Tampa Bay is set for a summer of budgeting and tough exits – but they’re changes the team should be able to turnover with a growing emergence of young prospects. Development camp could be the most notable piece of Tampa Bay’s season, as they look to maintain a roster that achieved the third-best record in the Eastern Conference last season.
Lightning Will Not Offer Extension To Cam Atkinson
The Lightning will not pitch an extension to veteran forward Cam Atkinson, David Pagnotta of The Fourth Period says. He’ll become an unrestricted free agent next week.
It’s far from surprising news. The 36-year-old became a free agent last summer after the Flyers bought out the final season of his seven-year, $41.125MM contract. He didn’t land anywhere on July 1 but was a Day 2 signing by the Lightning, agreeing to a one-year, $900K pact to try and rebuild his value following a challenging 2023-24 season.
Unfortunately, it didn’t work out that way. Atkinson got a few reps in the top six but wasn’t a good fit, and he quickly fell down the team’s depth chart. He was a frequent healthy scratch in the latter half of the campaign and even went on waivers in March to help the Lightning create some salary cap flexibility. He went unclaimed and never suited up for the team’s AHL affiliate in Syracuse, but he was assigned there on more than one occasion to boost their cap space.
Atkinson’s season ended with just 39 appearances, scoring four goals and nine points while averaging nine points per game. It’s been a tough few years for the diminutive 5’8″ winger, who missed the 2022-23 campaign with Philadelphia following offseason neck surgery. His effectiveness was slashed upon returning for 2023-24, limited to 28 points and a -22 rating in 70 games. He was still a 50-point threat pre-injury, looking good in his first season with the Flyers after acquiring him from the Blue Jackets in a one-for-one swap for Jakub Voráček.
Whether Atkinson, one of the highest-scoring players in Columbus franchise history, returns for a 14th NHL season remains to be seen. His market will be limited to league-minimum offers after his tough showing this year, likely without guaranteeing a roster spot. There might still be a fit regarding a reunion with the Blue Jackets as they round out their roster with veteran depth pieces and look to their young core to lift them back to playoff contention in 2025-26.
Lightning’s Nick Perbix Will Test Free Agency
There will be no extension keeping Lightning defenseman Nicklaus Perbix off the open market before July 1, David Pagnotta of The Fourth Period reports. The 27-year-old will instead look to cash in as the youngest option available among a thin class of right-shot defenders.
Perbix was a sixth-round pick of the Lightning back in 2017. Tampa retained his signing rights through his post-draft season with USHL Omaha and then during a full four NCAA seasons at St. Cloud State, where he won an NCHC regular-season title as a rookie and was named a First Team conference All-Star following his standout point-per-game senior season. That was enough for the 6’4″, 205-lb rearguard to land his entry-level contract with the Bolts.
The Minnesota native has essentially been a full-time NHLer since turning pro in 2022. Aside from a brief AHL stint to make his pro debut following the end of his senior year with St. Cloud State and a pair of minor-league contests the following year, he’s been a fixture on Tampa’s roster with utility up and down the lineup.
While he’s seen deployment as high as first-pairing duties with Victor Hedman, his overall ice time has been limited because he’s played under 100 minutes on special teams units in total over his three-year career. Perbix averaged 15:45 per game with the Bolts as a result. At 5-on-5, his most common partners over the last three years were Emil Martinsen Lilleberg (919:12), Hedman (893:26), and Mikhail Sergachev (570:12), according to Natural Stat Trick. Whether due to his time spent with more skilled partners in Hedman and Sergachev or not, Perbix’s point production has been solid considering his limited even-strength minutes. He’s consistently churned out 20-25 points, avoiding major injury troubles.
Nonetheless, it makes sense that the Lightning aren’t interested in retaining Perbix. He averaged just 14:41 per game last season, making it hard to justify matching the $2.65MM per season he’s projected to receive on a two-year deal on the open market, according to AFP Analytics. He totaled a 13-50–63 scoring line with a +27 rating in 220 games as a Bolt and will likely look to land somewhere where he has more of an opportunity to play both the power play and penalty kill.
Free Agent Focus: Tampa Bay Lightning
Free agency is less than a month away and teams are looking ahead to when it opens. There will be several impact players set to hit the open market in July while many teams have key restricted free agents to re-sign as well. We continue our look around the NHL with an overview of the free agent situation for the Lightning.
Key Restricted Free Agents
F Gage Goncalves – Even on a relatively deep Lightning team, Goncalves successfully parlayed an impressive run with the AHL’s Syracuse Crunch into a full-time role at the NHL level. From 2022 to 2024, Goncalves scored 26 goals and 112 points in 140 AHL contests, with another four goals and 11 points in 12 postseason contests. This gave Tampa Bay the confidence to allow Goncalves a longer-term opportunity at the NHL level, and his tryout proved successful by all accounts. Goncalves scored eight goals and 20 points in 60 games for the Lightning while averaging 12:48 of ice time per night, and achieved a 92.0% on-ice save percentage at even strength. Given the roster flexibility he affords and arbitration eligibility status, Goncalves should earn a healthy bump on his $775K salary from last year, but it’ll likely be less than double.
Other RFAs: F Jaydon Dureau, F Ryder Korczak, F Waltteri Merela, G Hugo Alnefelt
Key Unrestricted Free Agents
D Nicklaus Perbix – Over the last three years, Perbix has scored 13 goals and 63 points in 220 regular-season contests, with a 51.2% CorsiFor% at even strength, and a 91.0% on-ice save percentage. This is a quality value for a defenseman who has averaged less than 16 minutes of ice time per game and has been playing on a $1.125MM AAV for the last two seasons. Unfortunately, his performance might have made it too expensive for him to continue with Tampa Bay. AFP Analytics projects Perbix to command a two-year, $5.2MM contract this offseason, which would take up almost 75% of the Lightning’s available cap space. Ultimately, the team will likely look for a cheaper right-handed option to fill in the gap or use a combination of Steven Santini and Maxwell Crozier next season.
F Luke Glendening – The University of Michigan alumnus may no longer have the capacity to score 20 points a year, nor is he in danger of receiving fringe votes for the Selke Trophy, but Glendening still holds value in a niche role. He remains one of the most effective faceoff takers in the league, winning 56.5% of his 1,829 draws taken with the Lightning. Given that he started 66.7% of his shifts in the defensive zone with Tampa Bay, Glendening ultimately gave the Lightning a better chance to retain possession and have an effective breakout. Still, even without the same faceoff talent, there may be better options available for Tampa Bay this offseason, at a similar league-minimum salary.
Other UFAs: F Cam Atkinson, F Anthony Angello, F Logan Brown, F Gabriel Fortier, D Derrick Pouliot, D Tobie Paquette-Bisson, G Matt Tomkins
Projected Cap Space
As alluded to earlier when talking about Perbix, the Lightning will again be limited by the salary cap this summer. Although there are no expectations this offseason, it is important to remember that Tampa Bay faced a similar situation last offseason and successfully acquired and signed the market’s top unrestricted free agent, Jake Guentzel. General Manager Julien BriseBois has shown time and time again that the Lightning can never truly be counted out of any available player, and it’ll be another interesting study to see how he weaponizes Tampa Bay’s projected $3.4MM in cap space this summer.
Gabriel Dumont Announces Retirement
According to a team announcement, longtime captain for the AHL’s Syracuse Crunch, Gabriel Dumont, has announced his retirement from professional hockey. Dumont, 34, recently completed his 15th professional season.
Dumont’s entrance into professional hockey came in the fifth round of the 2009 NHL Draft, when the Montreal Canadiens selected him with the 139th overall pick. He subsequently had a promising year with the QMJHL’s Drummondville Voltigeurs, scoring 51 goals and 93 points in 62 games with an impressive +43 rating.
Unfortunately, that was the last of Dumont’s high-scoring days for quite some time. He spent the next six years buried in the AHL in the Canadiens organization, scoring 92 goals and 203 points in 389 AHL contests, while managing one goal and three points in 18 NHL games.
After the 2015-16 season, Dumont finally reached free agency and chose to sign a one-year agreement with the Tampa Bay Lightning. This was Dumont’s largest opportunity to play at the top level, scoring two goals and four points in 39 games for the Bolts, while averaging 9:40 of ice time per night. After a brief stint with the Ottawa Senators after being claimed off waivers, Dumont later returned to the Lightning organization, again via waivers, a few months later.
Despite posting a solid 15 goals and 43 points in 59 games for the Crunch in his first year as captain during the 2018-19 campaign, Dumont chose to leave the following summer, signing a two-year agreement with the Minnesota Wild. Dumont largely played in the AHL with Minnesota, scoring 20 goals and 46 points in 68 AHL contests, and going scoreless in three NHL appearances over two years.
The beginning of the 2021-22 season signified Dumont’s last move in his professional career and ended his NHL tenure. Syracuse’s former captain returned, again taking on the same leadership role, for the next four years. Unfortunately, Dumont couldn’t lead the Crunch very deep into the Calder Cup playoffs, but did have the best individual season of his career in 2021-22, scoring 30 goals and 62 points in 75 games.
The former fifth-round selection in the 2009 NHL Draft concluded his AHL career with a total of 202 goals and 459 points across 747 games, playing for the Crunch, Iowa Wild, Hamilton Bulldogs, and St. John’s IceCaps. In addition, he recorded four goals and nine points in 90 NHL appearances with the Canadiens, Lightning, Senators, and Wild. PHR congratulates Dumont on a quality professional career and wishes him the best in retirement.