The whirlwind of NHL free agency continues to churn, transforming team rosters and setting the stage for the 2025-26 season. While blockbuster trades captured headlines, a flurry of significant signings saw key players commit to new homes or return to familiar ice, all while teams strategically maneuvered under the salary cap.
Among the early headline grabbers, defenseman Bowen Byram put an end to rampant trade speculation by re-signing with the Buffalo Sabres. His new two-year deal, valued at $6.25 million per season, offers the 24-year-old the opportunity to solidify his position as a top-four defenseman and live up to his high draft pedigree.
Meanwhile, winger Nikolaj Ehlers became a sought-after unrestricted free agent after a decade with the Winnipeg Jets. He ultimately chose the Carolina Hurricanes, inking a substantial seven-year, $51 million contract. Carolina hopes his speed and scoring ability will provide the offensive punch needed to overcome recent playoff hurdles.
Perhaps the most dramatic move saw star forward Mitch Marner depart the Toronto Maple Leafs via a sign-and-trade, landing with the Vegas Golden Knights on an eight-year, $96 million deal. In return, Toronto received third-line center Nicolas Roy, a move that signals a significant shift for both franchises.
Down in Florida, the Panthers` front office continued its impressive work, securing key components of their championship core. Despite being poised to hit the open market, forwards Brad Marchand and Sam Bennett, along with defenseman Aaron Ekblad, all committed to long-term extensions. Reports indicate all three took notable discounts to remain in Sunrise, a testament to the organization`s culture and ambition for sustained success – or perhaps just really enjoying the Florida sunshine.
Defensive depth saw considerable movement across the league. Veteran blue-liners like Dmitri Orlov (Sharks, two years, $6.5M AAV), Brent Burns (Avalanche, one year, $1M plus incentives), and John Klingberg (Sharks, one year, $4M) found new teams, offering experience to younger squads or depth to contenders. The Los Angeles Kings made some eyebrow-raising commitments on defense, signing Cody Ceci (four years, $4.5M AAV) and Brian Doumolin (three years, $4M AAV), deals some analysts questioned given the team`s recent defensive strength. The Seattle Kraken bolstered their blue line with Ryan Lindgren (four years, $4.5M AAV), while the New York Rangers added a top free agent defender in Vladislav Gavrikov (seven years, $7M AAV), potentially pairing him with Norris winner Adam Fox.
Among forwards, veteran presence was a common theme. Gus Nyquist joined the Winnipeg Jets (one year, $3.25M), and Jonathan Toews made a return to the league, also signing with the Jets after a two-season absence. The St. Louis Blues added center depth with Pius Suter (two years, $4.125M AAV) and Nick Bjugstad (two years, $1.75M AAV). The Detroit Red Wings picked up defensive forward Mason Appleton (two years, $2.9M AAV), while the New Jersey Devils retained Cody Glass (two years, $2.5M AAV).
Other forward signings included Anthony Mantha heading to Pittsburgh (one year, $2.5M), offering the Penguins a potential middle-six option or trade chip. The Edmonton Oilers added scoring depth with Andrew Mangiapane (two years, $3.6M AAV). The New York Rangers locked up rising restricted free agent Will Cuylle (two years, $3.9M AAV). The San Jose Sharks continued adding veterans by signing Adam Gaudette (two years, $2M AAV). The Anaheim Ducks made a notable splash by acquiring veteran center Mikael Granlund (three years, $7M AAV), adding experience down the middle following the Trevor Zegras trade. The Los Angeles Kings brought in future Hall of Famer Corey Perry (one year, $2M), adding not just veteran leadership but also a player who has remarkably reached the Stanley Cup Final in five of the last six seasons, along with depth forward Joel Armia. Christian Dvorak signed a one-year deal with the Philadelphia Flyers ($5.4M AAV), adding temporary center depth.
The goaltending market also saw movement, though some of the top available options quickly found homes. The Buffalo Sabres added veteran depth in Alex Lyon (two years, $1.5M AAV). The Los Angeles Kings acquired Anton Forsberg to fill their backup role. The Philadelphia Flyers signed Dan Vladar (two years, $3.35M AAV), creating a crowded crease situation. The New Jersey Devils secured their tandem by re-signing Jake Allen (five years, $1.8M AAV). Meanwhile, the Vancouver Canucks extended their starting goaltender Thatcher Demko (three years, $8.5M AAV) before he reached free agency.
Other key re-signings included Matt Duchene staying with the Dallas Stars (four years, $4.5M AAV), providing consistent offense, and forward Brock Nelson signing a three-year extension ($7.5M AAV) to remain with the Avalanche after being acquired at the deadline. On the defensive side, Nick Perbix committed to the Nashville Predators (two years, $1.375M AAV), addressing a need for right-shot defensemen. The Columbus Blue Jackets raised some eyebrows with a significant seven-year, $59.5 million contract for defenseman Ivan Provorov, a deal that carries a high cap hit for a player with inconsistent advanced metrics. The Edmonton Oilers locked up their offensive defenseman Evan Bouchard (four years, $10.5M AAV), solidifying their top defensive pairing alongside Darnell Nurse. Lastly, fan favorite John Tavares re-signed with the Toronto Maple Leafs on a seemingly team-friendly four-year deal worth $4.38 million annually, offering leadership and continued offensive production for the team.
As teams continue to fine-tune their rosters, the flurry of early free agency activity has already painted a fascinating picture of the league`s evolving landscape heading into the new season. While many significant names are now off the board, the strategic chess match among NHL general managers is far from over.
