NHL general managers enter the free agent signing period on Monday with a little more money to spend.
After years of a mostly flat salary cap due to the COVID pandemic, it’s going up from $83.5 million to $88 million. But the number of free agents is also larger because many players had signed one-year deals last summer in hopes of landing a bigger contract this offseason.
Two of the bigger names, forward Jake Guentzel and defenseman Chris Tanev, had their rights traded during the weekend, giving the Tampa Bay Lightning and Toronto Maple Leafs, respectively, more time to negotiate. Guentzel signed a seven-year, $63 million contract and Tanev got a six-year, $26 million contract, their teams announced Monday.
Teams can also negotiate extensions for players entering the final years of their contracts:
Here’s what happened during the opening day of free agency:
NHL FREE AGENCY: Top 25 free agents
The Penguins get a conditional 2025 fifth-round pick and a second-round pick in 2027. Smith, 33, is in the final year of his contract. He had an off season in Pittsburgh after a trade but was a key member of the Golden Knights and won a Stanley Cup there. The Rangers also signed forward Sam Carrick to a three-year deal.
Matt Roy signs with Capitals
The former Kings defenseman gets a six-year, $34.5 million contract. He killed penalties on the league’s No. 2-ranked unit, led the Kings in blocked shots and was second in hits. The Capitals earlier added offensive-minded defenseman Jakob Chychrun via trade. Washington also announces the signings of center Taylor Raddysh to a one-year, $1 million contract and rugged forward Brandon Duhaime to a two-year, $3.7 million deal.
Anthony Duclair signs with Islanders
Four years, no term disclosed. He adds speed on the wing. The Islanders also re-sign defenseman Mike Reilly for a year.
Dallas Stars moves
They announced the re-signing of forward Sam Steel (one year, $1.2 million) and the signing of defenseman Brendan Smith (one year, $1 million). According to reports, they also re-signed Matt Duchene (one year, $3 million). Duchene, who scored a double-overtime series clincher in the playoffs, had 25 goals last season in Dallas after being bought out by the Predators.
Utah signs defenseman Ian Cole
He gets one year. Terms weren’t disclosed. Utah’s remake of its defense continues. They traded for Mikhail Sergachev and John Marino at the draft.
Reports: Blackhawks are busy
According to reports, the Blackhawks are signing Tyler Bertuzzi, Teuvo Teravainen, Pat Maroon, Alec Martinez and Laurent Brossoit. Bertuzzi will be a good complement to Connor Bedard with his passing and his ability to get pucks off the boards. Teravainen played for the Blackhawks earlier in his career. Maroon provides fourth-line grit and Martinez adds a veteran presence on defense. Brossoit is one of the better backup goalies in the league.
The Blackhawks confirmed the three-year, $17.2 million contract for Teravainen.
Chandler Stephenson signs with Kraken
The versatile two-time Stanley Cup winner joins a team that’s trying to get back to the playoffs. He’s the second Cup winner joining the Kraken on Monday after they earlier signed Brandon Montour. Stephenson averages $6.25 million in the seven-year deal, the team said.
Viktor Arvidsson signs with Oilers
He’ll get $8 million over two years. He has had injury issues but will provide secondary scoring (five 20-goal seasons, including two over 30).
David Perron signs with Senators
Perron 36, gets two years. He’s a consistent 20-goal scorer who will help the Senators’ middle six and their power play.
Jonathan Drouin returning to Avalanche
He had his best NHL season in 2023-24 playing on the team led by former junior hockey linemate Nathan MacKinnon. It’s a one-year, $2.5 million deal, according to TSN. The Avalanche also re-signed depth forward Joel Kiviranta for one year.
Brandon Montour signs with Kraken
The defenseman will average $7.14 million in the seven-year deal, the team said. Right-shot Montour, who had 73 points in 2022-23, adds offense to a team that includes Vince Dunn. Even though Gustav Forsling had emerged as the No. 1 defenseman in Florida, it’s a big loss for the Panthers.
Bruins sign Elias Lindholm, Nikita Zadorov
The Bruins were thought to have pursued Lindholm before the trade deadline. He gives the Bruins a top two-way center that they had been missing since Patrice Bergeron retired. Zadorov, like Lindholm a Canucks trade acquisition, is a rugged defenseman who showed goal-scoring ability in the playoffs.
Zadorov gets a six-year, $30 million deal, tweeted his agent, Dan Milstein. Lindholm’s deal is seven years, $54.25 million, per Sportsnet.
Report: Sean Monahan signs with Blue Jackets
He’ll average $5.5 million in the five-year deal, according to TSN. Monahan had played with the Blue Jackets’ Johnny Gaudreau in Calgary. Columbus had been seeking the right linemates for Gaudreau since he arrived.
Jake DeBrusk signs with Canucks
He’ll average $5.5 million in the seven-year deal. Nice long-term security for a player who always seemed to be involved in trade rumors. The Canucks also said they signed forwards Danton Heinen (two years, $4.5 million) and Kiefer Sherwood (two years, $3 million) and defenseman Derek Forbort (one year, $1.5 million).
Hurricanes’ Jaccob Slavin gets eight-year extension
He’ll make $51.69 million in the deal, the team said.. Good move by the Hurricanes to lock him up early after having so many unrestricted free agent defensemen this season. The 30-year-old is among the league’s top defensemen and is signed through 2032-33.
Reports: Predators load up with Steven Stamkos, Jonathan Marchessault
Aggressive moves by general manager Barry Trotz. Stamkos and Marchessault are 40-goal scorers and Stanley Cup winners. Defenseman Brady Skjei joins Norris Trophy finalist Roman Josi on the blue lines.
“It’s still too early to process,” Stamkos tweeted. “Just wanted everyone to know how thankful we are for 16 years as a bolt. My family and I are excited for the next chapter.”
Trade: Capitals acquire Jakob Chychrun
The Senators get defenseman Nick Jensen and a 2026 third-round pick. Chychrun is 26 and in the final year of his deal. The defenseman provides offense and will help the Capitals’ power play. Jake Sanderson had moved into the No. 1 role in Ottawa and right-shot Jensen is a good complementary piece.
Free agency official open
It’s noon. Let the signings begin.
Reports: Tyler Toffoli to the Sharks
Multiple reports say Toffoli will sign a four-year, $24 million deal with the Sharks. San Jose had been shedding veterans but now can build around top picks Macklin Celebrini and Will Smith. Toffoli is a proven scorer and topped 30 goals the past two seasons.
Hurricanes call news conference for Jaccob Slavin
The Carolina defenseman and two-time Lady Byng Trophy winner is eligible for an extension. News conference is at noon, when he’d able to sign.
Joseph Woll re-signs with Maple Leafs
He’ll average $3.66 million in the three-year deal. Woll has established himself as a potential No. 1 goalie in Toronto but has had problems staying healthy. He was impressive (2-0, 0.86 goals-against average, .964 save percentage) forcing a Game 7 in the first round against the Boston Bruins but missed the decisive game with an injury.
Chris Tanev signs with Maple Leafs
He’ll average $4.5 million in the six-year contract, the team said. He’ll improve the Maple Leafs defense, especially with his shot blocking and physical play. He finished third in the league in blocked shots in the regular season and first in the playoffs for the Dallas Stars, who traded his rights to Toronto during the draft weekend.
Connor Brown re-signs with Oilers
He’ll get a one-year, $1 million contract. Brown had a slow start to the season because of 2022 knee surgery but was an integral playoff performer on the Oilers’ third line, including two short-handed points as Edmonton forced a Game 7 after trailing 3-0 in the Stanley Cup Final.
Sam Reinhart re-signs with Panthers
He’ll get eight years, the team said, and the reported $8.625 million average is extremely team friendly, considering what he did last season. Reinhart had 57 goals in the regular season and 10 in the playoffs, including the Stanley Cup clincher. Both he and Guentzel could take less because Florida has no state income tax.
The Lightning traded for the top free agent’s rights and reached terms on a seven-year, $63 million contract. They let Steven Stamkos go to free agency and Guentzel is a proven scorer, especially in the playoffs, and is five years younger than Stamkos. He’ll fit in on the top power play unit and Tampa Bay’s highly productive top lines.
When does NHL free agency open?
The official kickoff is at noon ET on Monday, July 1.
Who are some of the bigger names?
Longtime Tampa Bay Lightning captain Steven Stamkos is an unrestricted free agent. So are 57-goal scorer Sam Reinhart (who re-signed Monday), Brandon Montour, Vladimir Tarasenko, Oliver Ekman-Larsson and others from the Stanley Cup champion Florida Panthers. A bunch of players from the runner-up Edmonton Oilers, plus 2023 playoff MVP Jonathan Marchessault of the Vegas Golden Knights are also free agents.
Max Domi re-signs with Maple Leafs
Pending free agent forward Max Domi received a four-year, $15 million contract Sunday to stay with the Toronto Maple Leafs. He had been on one-year deals his last contracts, but the gritty forward spent time on Auston Matthews’ line this past season and earned a longer term this time.
Patrick Kane re-signs with Red Wings
Patrick Kane, who signed a one-year deal with the Red Wings last season after hip-resurfacing surgery, got another one-year deal on Sunday. It’s worth $4 million, with another $2.5 million in potential bonuses, according to the Detroit Free Press, part of the USA TODAY Network. He showed he has recovered well from the surgery, averaging nearly a point a game. He is a three-time Stanley Cup winner with the Chicago Blackhawks.
Who was bought out?
The contract buyout list is the Buffalo Sabres’ Jeff Skinner, Edmonton Oilers’ Jack Campbell, Winnipeg Jets’ Nate Schmidt, Columbus Blue Jackets’ Adam Boqvist, Dallas Stars’ Ryan Suter and Philadelphia Flyers’ Cam Atkinson. All become free agents. Suter was bought out for the second time in his career.