One lingering off-season question for each NHL team

The flurry of activity that happens around the draft and in the early days of free agency has passed. In most years, after the dust settles on those important dates, the league has generally gone quiet so everyone can recharge their batteries before getting back to it in the fall.

This year could be different.

There are still several trade requests that have not been resolved, quality RFAs who have not re-signed, and arbitration cases around the corner. While some of this may wait until September, just before camps open, we have to remember that the regular season will begin a week earlier as the schedule expands to 84 games.

So we don't have as much runway as we usually do.

As we head into what is usually the quiet part of the NHL calendar, we go through one lingering question facing every team, with a little help from the final episode of 32 Thoughts: The Podcast for this season.

Anaheim Ducks: So they matched Leo Carlsson's offer sheet, now what?

Now the Ducks have an $18-million cap hit on the books, the highest amount for any single player across the league. And that money is being spent on a 21-year-old centre with significant upside, but still on someone who hasn't quite been a point per game player yet, or scored 30 goals. In that sense there's risk, and they're paying Carlsson much more now than they were anticipating. But not matching the offer sheet would have set back their emerging rebuild in a big way.

The Ducks have $9 million in cap space and still have to re-sign 41-goal scorer Cutter Gauthier, who cannot sign an offer sheet. He may very well take up all — or more — of that remaining cap room, so other moves will have to be made. Maybe it's a Frank Vatrano trade, or possibly Alex Killorn, but the Ducks now have to deal with the fallout of Carlsson's game-changing contract.

Boston Bruins: What happens next with Pavel Zacha?

The acquisition of JJ Peterka via trade was a clear signal that Boston, again, has no desire to step back and will keep a playoff push going. We shouldn't be surprised by that.

Going into next season, centre Pavel Zacha will be in the final year of his contract, after which he could become a UFA. The 29-year-old just scored a career-high 30 goals and 65 points last season. The position he plays, combined with his offensive contributions, makes Zacha an interesting case for his next contract as AAVs rise to a level we've never seen. What will it take for Boston to re-sign him, or do they explore another route?

"I do think they talked to other teams about him," Elliotte Friedman said on 32 Thoughts: The Podcast. "He's the kind of guy now that's a 1C or, at worst a 2C, those are big tickets. I'm curious to see how comfortable Boston's going to be with what it could take to extend him."

Buffalo Sabres: Can they leverage last season to add an impact player?

After 14 straight years out of the playoffs, Buffalo returned in 2026, won a round, and is now full of optimism. They did lose Alex Tuch to free agency this off-season, and turned Bowen Byram into Olen Zellweger, a slightly younger version of the same type of defenceman. And the Sabres' rosy outlook only continues if the likes of Zach Benson and Konsta Helenius improve. But the team, city and market are being perceived differently now. Yes, Colton Parayko may have turned down a trade to Buffalo last season, but they're quietly becoming a destination of choice, and not one to avoid.

"Connor Hellebuyck was willing to waive to go there. I think Vincent Trocheck was very interested in going there. That wasn't happening a year ago. The Sabres are a different animal now. They're respected," Friedman said.

The Sabres still have $8.6 million in cap space and don't seem too eager to move on from their top young players coming up. Perhaps GM Jarmo Kekalainen continues to slow play this, or perhaps the Sabres flex some of this muscle they have to bring in an impact player.

Calgary Flames: Will Zach Whitecloud be traded?

The rebuild continues as the Flames were quiet in free agency, moved out Blake Coleman and acquired 22-year-old right-shot defenseman Simon Nemec, whom they signed to a long-term deal. It's all about the long-term view here.

So, seeing Whitecloud still on this roster, a 29-year-old, right-shot, penalty-killing defenceman who averaged nearly 20 minutes of even-strength ice time per game with the Flames, makes us wonder if another deal will be on the way. Whitecloud has been a great fit in Calgary, but would be a terrific and relatively cheap (in cap dollars) addition for a contender. Whitecloud makes just $2.75 million against the cap for the next two seasons.

"I am surprised that nobody has come harder after Zach Whitecloud," Friedman said. "You still need veterans and you need good veterans, but I look at some of these teams trying to win the Stanley Cup and you can't tell me he's not more valuable to them than he is to the Calgary Flames."

Carolina Hurricanes: Will they make a big play?

The defending Stanley Cup champions have nearly their entire roster returning with a few exceptions, and the most notable contract to resolve is Alexander Nikishin's an RFA not eligible for an offer sheet.

It's so far been a relatively quiet off-season for Carolina, but they have not been shy to be aggressive in the past. Just last year they were threatening offer sheets to Evan Bouchard and then K'Andre Miller, eventually landing the latter in a trade. This summer the rumour around them is that they could still get into the offer sheet market, but perhaps not to keep the player. They may instead look to flip them.

"I don't think they're satisfied; I think they're trying to add something to their team," Friedman said. "I think whatever they're trying to do is big."

"I think what the Hurricanes were considering is, and I don't know if it was (Leo) Carlsson or someone else like Adam Fantilli, I think they were considering signing a player. They were going to see if they got the player, could they trade them to Seattle or somebody else. That was one of the rumours going around."

Chicago Blackhawks: What will Connor Bedard's next contract look like?

Carlsson's offer sheet sent a shockwave throughout the league that could impact all contracts because a new high bar has been set — and it was set on a 21-year-old whose best seasons should be ahead of him.

But that contract will most directly affect Bedard's situation. Carlsson was the second overall pick in 2023, one slot behind Bedard. Carlsson has 141 points in 201 NHL games; Bedard has 203 points in 219 games. Carlsson hasn't yet hit a point-per-game season or the 30-goal plateau; Bedard reached both last season.

Chicago has nearly $30 million in cap space, the second-most in the league, and a situation similar to what Anaheim was in before the offer sheet changed everything. In theory, Bedard could look for an offer sheet and could aim higher than $18 million. Even if he doesn't explore that and wants to work it out with Chicago, what is his value now? It's surely millions more than it was last week, even though he's since sustained a shoulder injury that will keep him out until November.

"I don't have any reason to believe Bedard is chasing an offer sheet by anyone else, but I'd be looking at the way the landscape is changing and, if I'm the Blackhawks, I'm all over it."

Colorado Avalanche: Will Cale Makar become the highest-paid player in the NHL?

Today, the highest-paid player by AAV in the NHL will be Carlsson at $18 million, with that contract kicking in for the 2026-27 season. The highest-paid defenceman right now is Bowen Byram, who will make $12.5 million against the cap when his deal kicks in for the 2027-28 season. But, by the time we get to that season, odds are Byram's number will no longer be tops at the position.

Enter Cale Makar.

With one year left on his deal, Makar can sign an extension any time now and the Avs will want to get that done well before he can become a UFA next summer. The feeling is that he'll surely pass Byram's number, but could he also surpass Carlsson's $18 million, or could he seek out the league maximum 20 per cent of the cap?

"I'll bet you he does not max out," Friedman said. "They'll go to him and they'll be like 'we'll pay you whatever you want and you deserve it' and I think he takes a big number but I don't think he takes everything he can. I think he leaves a little bit of cap flexibility."

Columbus Blue Jackets: What's next for Kirill Marchenko and Adam Fantilli, and is the Zach Werenski saga truly over?

There are three big questions hanging over the Blue Jackets, all of which will have a lasting impact on the organization. The first is about Zach Werenski, who went from a trade candidate, to being traded until he vetoed a move to Dallas, to no longer being available at all and happy to stay in Columbus. Is that situation truly smoothed over? Will he take over as the next captain after Boone Jenner departed? Is there more speculation to come here over the summer, or next season? Werenski has two more years left on his contract, after which he could become a UFA.

But that's not all. There has also been trade speculation around Kirill Marchenko, a one-time 30-goal scorer who has one season left on his deal. When that expires he'll be RFA eligible for one season, and then UFA eligible.

And, finally, 21-year-old centre Adam Fantilli is an RFA and is eligible for an offer sheet. The whole calculation on what that next contract might look like was thrown up in the air after Carlsson's offer sheet and we wonder if Fantilli might be a target for one this summer.

"Don Waddell said (Marchenko would) be back next year, that will be an interesting one because he's a 30-goal guy and he'll need another contract after next year. That's going to be a big number," Friedman said. "People out there have a lot of respect for Marchenko's game. Fantilli, we talked about offer sheets, how does Columbus feel? Are they nervous about it?"

Dallas Stars: How will the Jason Robertson situation be resolved?

Robertson doesn't have any trade protection, but the RFA nixed a move to Seattle by not agreeing to sign an extension there. A long-term extension with Dallas didn't get done either and now the 26-year-old sniper has filed for arbitration. That takes him off the market to receive an offer sheet, and sets him up to receive a one-year award in arbitration that would walk him to unrestricted free agency next summer.

This year's arbitration hearings will occur between July 20 and Aug. 1, and Robertson's will land somewhere in that window. The biggest arbitration award on record is Shea Weber's $7.5 million with Nashville, which Robertson will shoot past. That is, if he makes it that far. Dallas and Robertson could still come to terms on a multi-year extension up until his arbitration case is heard.

"Robertson's going to want everyone to interpret (not signing with the Kraken) as how much he wants to stay in Dallas, that he'd turn down $125 million or whatever it was from Seattle because he wants to be a Dallas Star," Friedman said. "And I think there's some other things that have popped up in and around there he's said no to and I do think on some level the Stars accept that as he wants to be here. But I still think there's a gap. I think the Stars are in around $12 to $12.5 million and Robertson's around 14."

Detroit Red Wings: Will a Dylan Larkin trade be found this summer?

The first of the big trade requests made public this off-season, Larkin is still a Red Wing, he's still the captain, and there's still a world where he remains on the team to start the 2026-27 season. This will be a tricky deal to make. At $8.7 million for another five years, Larkin's contract (like so many others) has become even more valuable after the Carlsson offer sheet. GM Steve Yzerman's ask was already high, and it's believed he wants NHL players instead of futures because the goal in Detroit is to end their 10-year playoff drought.

"I didn't think, and part of me still doesn't believe, that Larkin will start next year in Detroit. I'm just not convinced that Yzerman wants to start the season with this distraction," Friedman said. "I've had a few people say to me don't underestimate it, he'll do it. If Yzerman believes the right thing to do is start the year with Larkin based on what he's getting offered then he'll do it. But I think the offer sheet made Larkin even more valuable, not only in Yzerman's eyes but in other people's eyes too."

Edmonton Oilers: How will they use their remaining cap space?

By trading out Darnell Nurse, not retaining any money, and acquiring Shakir Mukhmadullin for a much cheaper salary, the Oilers created a ton of cap space. Even after re-signing their own players such as Kasperi Kapanen, Jason Dickinson and Connor Murphy, Edmonton has just shy of $6 million in cap room left to play with.

Between UFA signing Frederik Andersen, trade pickup Devon Levi, and carryover Tristan Jarry, the Oilers have three netminders who need to pass through waivers to be reassigned. They also have eight NHL defencemen under contract, but at the moment, just 11 forwards on the NHL roster. A 12th or 13th spot could be filled by Ike Howard, Josh Samanski, or possibly Eduards Tralmaks, among others.

But that is a lot of cap space left over for an all-in roster. Edmonton could sit on it, let the space grow through the season and basically be able to acquire anyone they can at next season's deadline. Or, will they still try and improve the roster this summer, possibly by moving a defenceman?

Florida Panthers: Any more surprises up their sleeve?

There doesn't appear to be any business left to do in Florida this summer. They have 14 forwards and seven defencemen on the roster and everyone is signed. In fact, they got way out ahead of Eetu Luostarinen, signing him to an eight-year extension while his current deal still has a season left. The one contract left to sort out is Akira Schmid, who looks set to be Jacob Markstrom's backup next season. Schmid is an RFA.

So, Florida's roster looks ready to start out 2026-27 this way. If there are any lingering questions for them, they mostly have to do with training camp roster battles, which we'll swing back around to in September. But for the rest of the summer, all we wonder is: Are there any more surprising moves on the way?

Los Angeles Kings: Will they find another skilled defenceman?

GM Ken Holland has doubled down on this team, acquiring a few veterans (Corey Perry, Mats Zuccarello, Erik Haula) to mostly try and stay on the path they have been on. Los Angeles figures to be in the playoff race again, but expecting a Pacific Division title or Stanley Cup run is a lot to ask.

With just $1.83 million in cap space left over, the Kings appear to mostly be done with any notable tinkering, but we shouldn't rule them out from further action. This is a team, after all, that finished 29th in goals per game and 28th in power play percentage last season. Then again, they may be buying time until next off-season, when cap space and options open back up.

"I think they would still add a puck-mover on the back end if they could, but I think it's basically dollar in dollar out for them," Friedman said.

Minnesota Wild: Will Quinn Hughes sign and for how much?

There's actually still quite a bit to wonder about in Minnesota. The one that could have the biggest impact on next year's roster is whether or not they can find a trade for Dylan Larkin that appeals to the Red Wings. It's no secret that Wild GM Bill Guerin needs another centre and that Larkin is a perfect fit, but while Minnesota would prefer moving futures to keep their team intact, Detroit's needs don't align with that.

Meantime, Quinn Hughes will be walking into the final season of his contract in 2026-27, after which he could become a UFA. There has been much speculation that, eventually, he would like to play with his two brothers, who are both in New Jersey. Hughes has been eligible to sign an extension since July 1, so every day that passes adds a little stress for Wild fans. Will he extend, will they keep him for a run anyway, or will this culminate in a trade at some point?

"My prediction is 3x18," Friedman said of Hughes in Minnesota. "I think he extends there. And until I'm wrong I'm not breaking off from that. Guerin's not a panicker. I know some people freak out it's not done already, but it's not his way."

Montreal Canadiens: Can they bring in a top-six scorer?

Montreal's contract setup is the envy of the league these days, with all of their core players locked in for multiple seasons, and no one with a higher cap hit than Noah Dobson's $9.5 million. The long-term picture is bright and, in the short term, they could still get active this summer.

The Canadiens have $14.233 million in cap space and are looking to make a splash. They were in on trying to get Marchenko out of Columbus, but the Blue Jackets may not be looking at that any longer. He's a winger who would add significant punch to the top six. But the bigger positional need is for a top-six centre, which is harder to come by and more costly to acquire, but if any team has the assets to make a blockbuster and is in the mindset to do so, it's Montreal.

"I think the one frustration for the Canadiens is they are still trying to sort out, could they find a younger top-six forward, like somebody in their 20s? And they would be aggressive. Like really aggressive," Friedman said. "I think they called around to just about every team looking at centres that might or might not be available and said 'hey would you move this guy?' And to this point they haven't been successful, but that doesn't mean they're going to stop trying."

Nashville Predators: Where else can they find more skill for the roster?

Coming over from Colorado, new Nashville GM Chris MacFarland had a big job in front of him with the Predators. Two disappointing playoff misses after "winning" the 2024 off-season, Nashville was a little lost. So far this off-season, they became the landing spot for RFA Mavrik Bourque, who signed an extension after coming over in a trade, and they acquired centres Ross Colton and Jack Drury from MacFarland's former team in Colorado. There is still so much more to do, though.

Will Nashville still entertain the thought of trading Steven Stamkos or Jonathan Marchessault? Or will they instead look to use the remaining $7.546 million this summer on adding more skill to the lineup? If so, where is that payer coming from?

"If you look at where Chris MacFarland came from, he came from a team that was really deep down the middle and they had one unbelievable defenceman and a lot of other pretty good d-men. They were strong down the middle and good on the blue line and I think that's what he's going to try to copy," Friedman said. "I think he's going to try to add some skill to the blue line to help (Roman) Josi."

New Jersey Devils: How will their goaltending look in the fall?

With Jacob Markstrom off to Florida, 35-year-old Jake Allen remains as the de facto No. 1, but it's unlikely that he'll be leaned on that way in the traditional sense, charged with starting 50-plus games. Nico Daws, 25, played three games for the Devils last season and he remains, plus New Jersey signed David Rittich, 33, in free agency for one season. All three of these goalies need to pass through waivers to be sent to the AHL and they combine to make just $3.9 million against the cap.

Is the plan to run three netminders next season and save money at this position, or is there another move coming that might bring in someone who can take on a bigger role?

"When they traded Markstrom a lot of people started linking them to (Connor) Hellebuyck," Friedman said. "I have to say this: people who know Sunny Mehta better than I do say they can't see him doing that. That he is very careful when it comes to contracts for goalies. I want to see how his philosophy develops over the years."

New York Islanders: Will they make the big splash fans are looking for?

Since the Lou Lamoriello era the Islanders had been locking in veterans to expensive contracts and, even after adding rookie Matthew Schaefer, they were one of the older rosters in the NHL last season. And while the Metropolitan Division may not look as daunting as the Atlantic, the defending Stanley Cup champions play out of the Metro, as do the Washington Capitals, who have been one of the off-season's biggest winners so far.

It's understandable why Islanders fans would hope to see some change to the team after missing out on the playoffs two years in a row. But it's been a fairly quiet summer so far, with Matias Maccelli the most notable free agent signing. And their move at the trade deadline was to bring in 34-year-old Brayden Schenn. So is there a way to change up this roster, perhaps by making it younger, or is what you see what you get with the Islanders for now, and change will come over the next couple years as prospects graduate and veterans come to the end of their contracts?

"I think what it is right now is New York is in a position where they are starting to turn over their team," Friedman said. "Sometimes you hear, and Montreal talked about this a couple years ago, we don't want to block guys."

New York Rangers: Is there any chance Alexis Lafreniere gets caught up in changes?

While the Rangers did trade away Vincent Trocheck, they also added Pavel Dorofeyev to the forward group, and Sean Durzi and Marcus Pettersson to the blue line. Letter No. 2 is not shaping up to be a rebuild that takes years to bounce back from and instead New York might be eyeing a playoff shot sooner rather than later.

Aside from Trocheck, other names that were caught up in the trade rumour mill last season included Adam Fox and Alexis Lafrenière. The Fox trade possibility has seemingly dried up, but Lafrenière's name has still been out there a little. The biggest change for him is that with Artemi Panarin gone, possible opportunity opens up for Lafrenière and the Rangers might want to give that a try first. He did finish last season on a high note with 24 points in his last 23 games.

"I think he's in a better place and they're in a better place with him," Friedman said. "I think there was a time last year where everybody didn't think this was in a place where it was going to work. I think there's a bit of a better feeling now post-Panarin that there's more of a role for him where he can be successful. And I think that's going to be an interesting one to watch as the season starts. You can either trade your problem or solve your problem. It's always better to solve your problem and I think there's a bit of a chance here for a new lease on life for him with the team."

Ottawa Senators: Are they good enough as constructed to be competitive again in 2026-27?

Although they finished in the East's second wild card spot and were swept out of Round 1 by the Carolina Hurricanes, the Senators were better than they appeared on the surface. In the regular season at five-on-five, this was a top-five team in Corsi percentage, a top-three team in expected goals percentage, and a top-three team in high-danger chances allowed. They were a strong defensive team, and the offence improved a lot from 2024-25. Had they received even average goaltending from Linus Ullmark all season, odds are they would have drawn a more favourable Round 1 opponent.

Then the Brady Tkachuk drama unfolded, and the captain was traded to Florida. The Sens parlayed that package to help acquire William Eklund out of San Jose, a much smaller winger who scored 53 points. They also acquired Andre Burakovsky, and are banking on Samuel Ersson being able to provide quality starts when Ullmark needs a rest. There are big contracts to figure out next with minute-munching blueliner Artem Zub and 33-goal scorer Drake Batherson, and the market is rapidly shifting on what they could earn.

The Sens do not want to take any steps back. They want to build on the first step they took two years ago, and how they progressed last season. But, as they stand here right now on July 10, is this roster good enough to keep it rolling?

"I gotta think whatever they were hoping to do with Batherson they were probably thinking they were going in the eights. Now where are you?" Friedman wondered.

Philadelphia Flyers: What effect will the Leo Carlsson offer sheet have on the rest of the roster?

The $18 million contract offered to and signed by Carlsson has shaken the league to its core and even though the Ducks matched so the Flyers don't get the player, they have some fallout to deal with.

The Flyers still have two of their own RFAs who need extensions. Jamie Drysdale and Trevor Zegras have both filed for arbitration so there is no threat to them receiving an offer sheet, but the inflationary effect Carlsson's deal will have on the league as a whole will impact the long-term ask from both players. If they do not make it to arbitration and work out an extension with the Flyers instead, what are those numbers now and how much higher will they be than before? The other thing to wonder about is what else the front office might explore to improve the lineup. We know they aren't afraid to be big and bold — could they make another splash elsewhere?

"If they don't get (Carlsson) what alternate moves do they consider? You take a look at their guys, Michkov obviously, Martone looked good to start, Barkey, Luchanko, Jiricek, can those guys all take steps too?" Friedman asked.

Pittsburgh Penguins: Can they add a centre before next season?

GM Kyle Dubas has had a tricky job to balance between an aging core that wants to compete with a clear need to bring in some youth and prepare for the next era, whenever it arrives. He's done pretty well in acquiring some early-to-mid-20s players, with Yegor Chinakhov the shining example last season. The front office will continue looking for those types of players, or to make a big play for someone. They certainly were in conversations with Dallas about trading for Jason Robertson.

One area of the roster we could identify as a need to improve on is down the middle. Evgeni Malkin is a winger now, and while Ben Kindel was a great and surprising story in his rookie year, ideally the Penguins would have another productive veteran to take top-six centre minutes. Centres can be hard to come by, but there have been a few available this off-season. In terms of identifying one available centre who isn't too old, has a depressed value, but still holds upside: what about Vancouver's Elias Pettersson?

"Look he's got to play better in that $11.6 million everyone's been talking about, but again, the ground has shifted here in a huge way," Friedman said of Pettersson. "I've sat there and I've said 'where could he go that could be good for him?' I wonder if the Penguins with Crosby and Malkin might be good for him."

San Jose Sharks: What will Macklin Celebrini's next deal look like?

If he's still unsigned by next July 1, Celebrini would surely be a top target for an offer sheet — and we'd wager someone would be willing to go as high as the 20 per cent maximum after the tone set by Carlsson this summer. It's hard to envision the Sharks letting it get that far, so we wonder if this is an extension that gets completed this summer.

Whenever it happens, that AAV is going to be something to discuss — and will have an impact on teammate Will Smith, who is due an expensive extension at the same time.

"This is the way these conversations are going to go with San Jose. They're going to say, Macklin, you deserve the max and next year the max is going to be ($22.7 million). On the ice, off the ice you deserve it one billion per cent," Friedman said. "Is there any way we can sign you without giving it to you so we can do some things around you? He will not get to July 1. It's going to be signed well in advance of that."

Seattle Kraken: Can they acquire a star who wants to be there, or how can they build themselves into a destination?

If you were to rank the teams that have had the most difficult off-seasons so far, Seattle would be near the top. We know they made a substantial contract offer to Jason Robertson and had a trade in place with Dallas to acquire him, but Robertson did not want to go there. This followed an in-season push to trade for and sign Artemi Panarin, who also nixed the idea of going to Seattle.

We know the Kraken want a difference-maker and are prepared to pay up for it. But five years into their existence they have just one playoff appearance and are not yet a destination that appeals to these types of players. The Kraken have reviewed their own internal process and are reconsidering how to go about things, but the jury is out on how that will impact the rest of this summer, and what they'll be capable of doing (or should try and do) in the coming years.

"Seattle has done that big internal audit about the way they do things. I think the other thing you can always be asking is you can be asking your players and their agents: what do we have to do? Is there anything we're missing on? The number one thing I think you have to do is no player is ever going to be more attached than to the team that drafts them," Friedman said. "Those are the guys you have to build yourself around."

St. Louis Blues: Will Jordan Binnington still be with the team at training camp?

Contract-wise the Blues are set up relatively well as their front office makes the transition from Doug Armstrong to Alex Steen in the GM chair. Their most expensive deal is an $8.125-million AAV to Robert Thomas and there might not be another bigger one on the way in the next couple of years (although inflation could push someone marginally above that).

Connor McMichael is the biggest piece of internal business to still get done as he's an RFA acquired from Washington in the Jordan Kyrou deal. Mason McTavish came over in a draft-day trade to add another centre. St. Louis has every chance and intention of being involved in next year's playoff race.

But we wonder: what will happen in net? Last season Joel Hofer was statistically the far better goalie. He earned more starts down the stretch than Binnington, and played more games across the whole season. Both have one year left on their contracts: Binnington at $6 million will become a UFA next summer, and Hofer at $3.4 million will be an RFA in 2027. Binnington was a regular on Nick Kypreos' trade board, but as the game of musical chairs has played out across the NHL this summer, he so far remains in place. Will that still be the case come September?

Tampa Bay Lightning: Is Nikita Kucherov's contract situation the most fascinating in the league?

Contracts and cap hits are such a big talking point around the league these days because of how quickly the cap is rising, and again, because of how the Carlsson offer sheet has warped expectations across the board. That is no different in Tampa Bay, where the tax advantage helped them manage an internal cap through the flat years.

Now that the landscape is so different, it's hard to tell what effect it will have on the Lightning this time, but Kucherov's case could be an indicator. The 33-year-old scored 130 points last season and is coming off his second Hart Trophy as league MVP, so he's still at the peak of his powers. But, eventually, age will catch up to him, too.

Making $9.5 million currently, Kucherov's next contract may still come in under some others because of the no state tax, but consider this: When his last contract was signed it accounted for 11.66 per cent of the cap in Year 1 of the deal. Right now, the projected NHL cap in 2027-28 (which would be Year 1 of Kucherov's next deal) is $113.5 million, and 11.66 per cent of that is $13.2 million. Relatively speaking, that is a steal for a player of his calibre, but the game is changing and we should consider that as just the low end of what he might shoot for. He's eligible to sign any time now.

"I think it's a fascinating contract because I'm sure at one point they were thinking maybe they were getting him for right around the 9.5 (million) he was at before. I am fascinated to see where this number ends up," Friedman said.

Toronto Maple Leafs: Will Morgan Rielly be traded?

No Maple Leafs player has been talked about as a real trade possibility more than Rielly, who was connected to San Jose before they made the move for their preferred target in Darnell Nurse. With four years left on a $7.5-million contract and coming off a struggle of a season, Rielly hasn't attracted the right offer.

Instead, the Maple Leafs did trade out Brandon Carlo and now we wonder if there's a path to Rielly returning in the fall. His place on the top power play will be taken over by Darren Raddysh, while Jake McCabe and a healthy Chris Tanev will push for greater roles. If he does return, it would certainly be in a reduced role. But is that the preferred outcome after all the noise? It's worth pointing out that Toronto is $2.7 million over the cap at the moment.

"I said there's a chance they keep him, I don't know if that made everyone involved happy. There was some reporting after that he would like to move on, I don't know if that's true or not. I just heard Toronto told people they're not paying a big price to move him. Like if it's something they consider too much of a sweetener they won't do it," Friedman said. "If Rielly comes back they'll try to make it work for him. I think they feel with a new approach and maybe a different role that could help him."

Utah Mammoth: Is Sebastian Cossa ready for an NHL backup job?

The Mammoth used some of their draft capital (pick No. 23) to acquire Cossa from Detroit, who himself was a first-round pick (15th overall) in 2021. Since being drafted, Cossa has one game of NHL experience, which came in 2024-25, and he's struggled to hold the lead AHL job wire-to-wire. The Red Wings could trade Cossa because a couple of other goalie prospects — Michal Postava and Trey Augustine — are pushing up the depth chart.

Utah signed Cossa to a two-year deal with a $2 million AAV and he'd have to pass through waivers to go back to the AHL, so odds are he will begin the season backing up Karel Vejmelka. But Cossa is so unproven, can he be a reliable netminder to give Vejmelka more time to rest? The latter has played 58 and a league-leading 64 games the past two seasons.

"Vejmelka got burned out last year," Freidman noted. "He played a lot of games, led the league, and then got tired at the end of the playoff series. Cossa giving Vejmelka minutes I think is critical."

Vancouver Canucks: Can they start building a better culture, and what else needs to happen this summer to put them on that path?

When Teddy Blueger had his introductory press conference this summer after joining the Maple Leafs, he was asked what the biggest thing he learned last year with the Canucks was. Blueger's answer was about the "importance of team cohesion, culture-type stuff" and what brings teams together to where players "care about each other enough to where they're willing to sacrifice themselves for the good of the team." It painted a tough picture about the Canucks, who have been something of a soap opera the past few years and are now navigating a rebuild.

Manny Malhotra is Vancouver's new head coach and he'll be tasked with managing this dressing room now, but what other changes need to occur? The trade watch continues to be on for not only Elias Pettersson, but also for Jake DeBrusk. Brendan Gallagher and Luke Schenn are a couple of veterans brought in who should help the room, but even culture is something this organization is building from the ground up.

"This is one unhappy group. Really unhappy group last year," Friedman said. "And in addition to the fact of what Blueger said, I think there were some guys who arrived midway through or came in at the end of last year, they were surprised about how it was. I think it was a really beaten-down, defeated, it had been just a long couple of years kinda group. I think that's what Manny Malhotra's main job is going to be: turn the page, it's over, new regime and we're doing things differently."

Vegas Golden Knights: Do they have a Vegas-type move in them?

As far as the Golden Knights go, a ruthlessly decisive organization, 2026 has been a quiet off-season. They've re-signed Rasmus Andersson, traded Keegan Kolesar, Kaeden Korczak, and Akira Schmid, and moved on from Pavel Dorofeyev, whose contract became too large to fit in the structure. So we have to wonder: is there a surprise move still to come?

After all, that's what Vegas is known for.

Most teams that reach the Stanley Cup Final may be content moving ahead without making too many off-season waves, but that's not the DNA of this organization. They have been linked to Dylan Larkin in trade, and might need to think about what comes next after William Karlsson, their current second-line centre, who will turn 34 partway through next season and is on an expiring contract. Will we see them move around some pieces, or is this more or less how the team will look at the end of the summer?

Washington Capitals: How will the pieces come together?

Chris Patrick has been one of the busier GMs this summer, adding Jordan Kyrou, Alex Tuch and Boone Jenner to the roster. Alex Ovechkin decided to come back for another year. At the same time, youngsters such as Cole Hutson and Ilya Protas came on at the end of the regular season and figure to be factors on next year's team. Washington has just under $1 million in cap space now with 14 forwards, seven defencemen and two goalies, and Patrick acknowledged that he's probably done adding to the roster, though didn't rule out the possibility of shedding a contract.

So the only lingering question over the rest of the summer for the Capitals is about how it will all come together. What will the lines look like? Will the new forwards inject more offence? On paper the Capitals are one of the summer's big winners, but that doesn't always guarantee success in-season.

Winnipeg Jets: Will Connor Hellebuyck still get traded?

Hellebuyck's comments at the end of the regular season seemed to start the clock counting down to his final day in Winnipeg. Perhaps the Jets could recover next season, compete for the Cup, and that would convince Hellebuyck to stick around. The 33-year-old has another five years on his contract.

But we might not even get to the start of next season with Hellebuyck as a member of the Jets. Trade talks picked up considerably at the draft, and a deal was getting close with Buffalo, a destination Hellebuyck would have waived his no-move for. That didn't happen. Then the Jets signed Stuart Skinner as a free agent on July 1 and speculation picked up again as to what that meant for Hellebuyck. Nothing has happened yet, but this is the cloud hanging over the rest of Winnipeg's summer. Will their stud goalie still be with the team come the fall?

"We'll see what happens wth Hellebuyck," Friedman said. "They've talked about can they convince him to come back. I think that's going to be a really hard thing to do. I'm not counting on that. The more I hear about it the more I believe the biggest hurdle with the Sabres was they were getting the fourth overall pick from Buffalo and (the Jets) wanted to keep eight."