The most interesting contract on every NHL team

The NHL contract landscape is changing quickly and in ways we don't fully know the extent of yet. As the cap approaches — and surpasses — $120 million in the next three years or so, how high will individual salaries creep? Superstars will get theirs, but how will that trickle down to other tiers of players?

And how will individual teams approach this? It's not far-fetched to believe we could eventually return to a time where not everyone is willing to spend to the cap, while others will always aggressively look to do so and get back a big-market advantage they haven't had in this era.

Every new contract signed begins to set the tone for these uncharted waters, so we're taking a look at every team's most interesting contract to monitor.

Anaheim Ducks: Leo Carlsson

We were reminded how tough a negotiator GM Pat Verbeek is when it comes to his RFAs, as Mason McTavish's negotiation carried into late September. Next summer, he'll have four more centrepieces of the rebuild coming off their entry-level deals — defencemen Pavel Mintyukov and Olen Zellweger, and forwards Cutter Gauthier and Leo Carlsson.

Carlsson, Anaheim's top-line centre, may have the best case for the highest AAV on his next contract, coming off a 20-goal, 45-point season with the potential for a breakout campaign in 2025-26 (he leads the team in scoring today). Three Anaheim forwards — including McTavish — make $7 million, but if Carlsson does step up and contribute to the Ducks jumping up the standings, he may have a case for more in the current cap climate.

Boston Bruins: Pavel Zacha

There are two years remaining on Zacha's contract, but what's interesting is how movable it is. Zacha makes just $4.75 million against the cap, is capable of playing centre or wing, produces enough to be a second-line contributor or excellent third liner, plays in all situations, and is still in his prime at 28 years old. If the Bruins recover and hang in the playoff race, Boston is more likely to keep him, but if they are sinking to the bottom of the Atlantic again, GM Don Sweeney may seek out future assets from a contending team that would find plenty of value in Zacha.

Buffalo Sabres: Alex Tuch

As the class of 2026 UFAs begins re-signing, a new market is being set. Though Tuch is a step or two below the superstar tier of players who've already signed, he's part of a strong group that includes Martin Necas and Adrian Kempe. Who will be the first to sign from that tier and how will it set the market for the rest of them?

A local guy, Tuch has had his best seasons in Buffalo since being traded from Vegas, scoring over 30 goals twice and hitting a career-high with 79 points three years ago. He has leverage in that the Sabres had to trade away a top scorer (JJ Peterka) last summer and need to create momentum to get to the playoffs. But Tuch will also turn 30 next spring. This could go two ways: either Tuch signs a contract that likely makes him the highest-paid forward on the team, or the Sabres are forced to entertain trade offers for him by March. For now, contract talks have been put on hold.

Calgary Flames: Nazem Kadri

We know that pending UFA Rasmus Andersson is likely to be traded, and that a re-signing would be a surprise. That's not as interesting as Kadri's deal, how it may age, and if it will conclude in Calgary. Making $7 million against the cap, the 35-year-old is signed for another four years and is still running strong — he potted 35 goals last season and is the team's No. 1 centre. Heck, he has hopes that with a strong showing he can still get some consideration for Team Canada. The Flames were feisty and punched above their weight last season, but a 1-6-0 start in 2025-26 has them in a tough spot. Can they even recover to be a Cup contender over Kadri's remaining four years?

Currently with a no-move clause, Kadri's deal shifts to a partial no-trade next season, and the window will more broadly open to trade questions being asked. It's a possibility already being casually kicked around.

Carolina Hurricanes: K'Andre Miller

Miller was the centrepiece of one of the summer's bigger trades, being sent from New York to Carolina for first- and second-round picks and prospect Scott Morrow. The Canes were exploring an offer sheet with Miller, who was going to be an RFA in the summer, and the Rangers were cautious to give him a big contract after a so-so season. Miller was New York's team leader in average even-strength ice time and he was tasked with facing tough opponents in those minutes, but his offensive numbers shrank from a career-high of 43 points in 2022-23.

However, the Canes are betting on the upside of this huge, 25-year-old blueliner who can skate well, is physical and has shown offensive chops. Can they optimize his upside? Can they help him reduce defensive lapses? With this new contract, now the expectations and pressure are real. The Canes signed Miller for eight years, at a $7.5 million AAV, and that makes him their highest-paid defenceman. Will the bet pay off?

Chicago Blackhawks: Connor Bedard

The player the entire rebuild is relying on, Bedard has not delivered 'generational talent' offence yet, but how much of that has been due to not having a supporting cast whatsoever? While his total points rose year over year from 61 to 67, his points per game rate dropped from .90 to .82 and he hasn't cracked 25 goals yet. What's in store for this season?

Bedard's anticipated AAV is in an undefined area. There's no doubt he's the most important part of this team, but what if he doesn't break out more clearly from his first two seasons? This contract is not interesting because it's uncertain if he'll re-sign, or if the Hawks will have a change of heart — rather, it's just not clear what shape that extension will take yet. The early returns are very positive in 2025-26, with Bedard scoring seven points in seven games, skating quicker, and making himself an intriguing player to watch on Team Canada's radar.

Colorado Avalanche: Martin Necas

It's Mikko Rantanen-lite, as the key player they got in return for the back-to-back 100-point player is now in a contract year himself and the eventual number on an extension is bound to induce sticker shock. We shouldn't be surprised if $10 million is the minimum number. After arriving from Carolina and riding shotgun with Nathan MacKinnon on the top line last season, Necas scored 28 points in 30 games.

This season, Necas has started on a six-game point streak and is tied with MacKinnon for the team lead at 10 points. Is Colorado going to be comfortable paying such a big number to Necas, or will this become something similar to Rantanen, where they trade a perfectly productive player for another?

Columbus Blue Jackets: Zach Werenski

Werenski was a massive reason why the Blue Jackets had one of the most surprising seasons last year, leading the team with 82 points and finishing second (a distant second) in Norris Trophy voting. Still in his prime, the 28-year-old is making $9.583 million for another three seasons yet and would be on track to hit UFA ahead of his age-31 season.

That's a long way off, but the timing of it is highly interesting, especially if he keeps delivering seasons like the one he just had. Werenski is on track for a new contract at the same time as Auston Matthews and Connor McDavid, and one year after Cale Makar and Quinn Hughes are expected to reset the high-bar market for defencemen. We don't yet know what the salary cap will be in 2028-29, but $120 million or higher is not too wild to consider. Werenski's cap hit percentage when his current deal began was 11.62, and if you assume that same rate against a $120 million cap, we're looking at $13.94 million. If he's still challenging for a Norris around then, it might be higher.

Dallas Stars: Thomas Harley

There are going to be a lot of rumours around Jason Robertson this season, set to be an arbitration-eligible RFA next summer and just one year away from unrestricted free agency. His production will dictate how high that contract will go, and trade talk will inevitably follow.

But how about Thomas Harley, a Team Canada 4 Nations defenceman and likely Olympian, who led all Dallas blueliners in scoring last season and was second on the team in playoff scoring? AFP Analytics projects a $9.8 million AAV on a long-term extension for Harley, which would go well past Miro Heiskanen on his own team. Entering his 24-year-old season, Harley has just two full NHL seasons under his belt and that number, while high at first glance, could easily end up being a steal in the long run. Harley has six points in his first five games, but is averaging two fewer minutes per game than Heiskanen.

Detroit Red Wings: Simon Edvinsson

The sixth overall pick in the 2021 NHL Draft, Edvinsson scored 31 points in his first full NHL season, averaged 19:11 of ice time per game, and was trusted with penalty kill opportunities. Turning 23 in February, if Edvinsson improves from there, puts up 10 more points, and the Red Wings benefit from that in the standings, his new AAV could get shockingly high. GM Steve Yzerman could keep that lower by going the bridge deal route, but that would bring its own dangers in a few years when the cap is considerably higher. A seven-year deal now still could bring him in around Moritz Seider's $8.55 million AAV that he just signed in 2024 — and Edvinsson has a shot to go even higher.

Edmonton Oilers: Stuart Skinner

Even with back-to-back Stanley Cup Final appearances, questions linger about Edmonton's goalies and whether the starter is good enough to finish the job. Through four starts in 2025-26 so far, Skinner has one shutout and three games in which he allowed three goals. More notable slow starts (ahem, Evan Bouchard) have taken attention elsewhere, but inevitably, attention will turn back to the crease.

Skinner is in the final season of his contract, making just $2.6 million, and after that, anything is on the table. Connor Ingram, another pending UFA, was picked up for free via trade, and though he's starting the season in the minors, we're already wondering if and when he'll be a factor in this year's crease. On one hand, Skinner is still having to prove himself and earn a new contract. On the other, the goalie market is thinner than any other position — if the answer isn't Skinner or long shot Ingram, where is it coming from?

Florida Panthers: Sergei Bobrovsky

When Bobrovsky initially signed a seven-year, $70 million deal, it was scoffed at as an overpay that could pin down the Panthers. It was a wildly high AAV for a goalie — only Carey Price made more at $10.5 million, and less than a month later, Andrei Vasilevskiy re-signed for $9.5 million. And while, yes, Bobrovsky had won two Vezina Trophies by then, his playoff experience was 34 games in which he was more inconsistent than dominant. And then in his first year with Florida, he ended with a .900 save percentage and 3.23 GAA in 50 games.

Now, of course, he's a back-to-back Stanley Cup winner and future no-doubt Hall of Famer. But he's also 37 years old and his next contract may be his last in the NHL. We shouldn't doubt Florida's ability to re-sign him and keep the band together, but what will that number be now? Is he going to give them a discount, chase the same rate, or push for a raise?

Los Angeles Kings: Adrian Kempe

Much like Tuch, Kempe falls into the tier of pending UFAs somewhere below the Eichels, McDavids and Kaprizovs who have already signed, but will also benefit from the rising cap. Kempe should come in higher than Tuch does in Buffalo, as he's led the Kings in scoring two years in a row now and will wind up the highest-paid forward on the team. Perhaps Kyle Connor's $12 million sets a market for Kempe, who surely will pull in $10 million annually. Will he challenge Drew Doughty at $11 million for the highest-paid player in Los Angeles? Can the Kings afford not to get a deal done?

Minnesota Wild: Zeev Buium

One year has been burned off Buium's entry-level contract, but coming into 2025-26, he had only played four playoff games for the Wild. A second-pair defenceman at even strength, Buium is Minnesota's only defenceman on the top PP unit and all five of his points have come with the man advantage so far.

Want an under-the-radar Calder Trophy pick? Buium is your guy. If he gets anything close to that consideration in Year 1, and builds on it in Year 2, then getting a contract comparable to Luke Hughes ($9 million) — while accounting for two more years of cap inflation — is very much in play. That could be a monster contract in an off-season when other blue line monster contracts will go out to Quinn Hughes and Makar.

Montreal Canadiens: Mike Matheson

Montreal's front office has been busy locking up the "marquee" young players on the team to long-term deals, but now the focus turns to 31-year-old Mike Matheson. Going from a much more offensive player (62 points in 82 games) two years ago, to Montreal's shutdown and top PK defender, Matheson has changed his game to fit what the Canadiens need and has been wildly successful in that role. His current pairing, with offensively-inclined Noah Dobson, has an expected goals percentage of 63.9 — the ninth-best mark of any pairing that has played at least 40 minutes together so far. Matheson makes $4.875 million this season and is UFA eligible come July.

Nashville Predators: Juuse Saros

Not only does Saros make $7.74 million against the salary cap through the 2032-33 season, his re-signing was also a signal that the Predators were going all-in on the now. Yaroslav Askarov hasn't exactly shone since being traded to San Jose, but Saros and the Predators haven't thrived either — last year's team collapse is well known, but Saros has been statistically sour for two years now. In 2023-24, Saros finished with a Goals Saved Above Expected of -3.0, ranking 46th of 65 goalies with a minimum of 20 games played. Last season, he finished with a GSAE of -7.4, ranking 47th of 61 goalies, and his save percentage dropped below .900 for the first time.

To say the Predators need a Saros bounce back for the team to stand a chance is an understatement, especially given he'll be 37 years old when this contract expires. These might be his best years of the entire contract. So far, so good in 2025-26 — Saros has started with a .919 save percentage in five games and is eighth in GSAE with a 4.5. But Nashville is still just 25th in offence.

New Jersey Devils: Jacob Markstrom

The Devils turned a corner as a team when they upgraded their goalie situation and found a No. 1 by bringing Markstrom in via trade. But, statistically, Jake Allen had the better season in 2024-25 — .908 save percentage to .900, 18.4 GSAE to 3.4. The very early returns in 2025-26 were the same, and with Markstrom sidelined with an injury, Allen has been undefeated.

Markstrom will turn 36 in January (Allen turns 36 next summer) and is now a pending UFA. Goalies are needed in so many places that a market for Markstrom will surely be there, and with the cap what it is, it's hard to measure what a fair contract is. For now, Markstrom makes only $4.125 million against New Jersey's cap, but his full AAV is $6 million, with Calgary retaining the difference.

NY Islanders: Anders Lee

A career Islander from a sixth-round pick in 2009 to today, the previous front office regime was highly loyal to its players, but the new one seems more open to change. Lee is a big-body top-six winger who scored 29 times last season, but is on his way to being a UFA next summer. If the Islanders struggle to stay in the playoff race, is it possible they'll explore attaining some futures assets for one of their longest-tenured players?

NY Rangers: Artemi Panarin

The Rangers are making history for all the wrong reasons and aren't delivering results that are inspiring a season of improvement. However, we have to caution how early it is, and how some of their underlying 5-on-5 numbers aren't that bad (sixth in expected goals for percentage). Still, we have to ask: what are the Rangers?

Someone who might want an answer to that question is Panarin, who was made the highest-paid winger the last time he hit unrestricted free agency and could go to market again in 2026. The UFA conditions are highly interesting for everyone right now, and it'll take some figuring out what a soon-to-be 34-year-old Panarin is worth when his expiring deal already came with an $11.642 million AAV. He was still an 89-point player last season and has seven in eight games this season. Will he get a raise and, if so, by how much? Could he leave?

Ottawa Senators: Linus Ullmark

The most games Ullmark has ever played in an NHL season is 49, which he reached in 2022-23 and won the Vezina Trophy. Last season, the first year of his contract with Ottawa, making $8.25 million against the cap, Ullmark played 44 times, which demanded more from the Senators' backups — and maybe helped them find something in Leevi Merilainen (we'll see). But when a goalie makes that much money, the expectation is that he plays more often than half the games and then can steal some in the playoffs.

Curiously, Ullmark still has to prove he can be a No. 1 and that he will live up to his salary. In 15 career playoff starts he has an .885 save percentage, and so far this season, he has an .848 save percentage and in only one of his five starts has he allowed less than three goals. Will he prove worth this contract by the time it expires in 2029?

Philadelphia Flyers: Trevor Zegras

The Flyers bought low on a Zegras trade over the summer and he's now effectively in a one-year show-me season. When Zegras signed his current bridge deal he was coming off a 65-point season, but scored just 47 points total in the following two years, and so a $5.75 million AAV is a bit rich at the moment. So far in Philadelphia, he's been used at both centre and wing, been between the second and third lines, and the first and second power-play units. The result has been five assists in six games. Can he earn an extension? Can he earn a raise? If improvement doesn't come over the long term, will the Flyers still want to qualify him at $5.75 million?

Pittsburgh Penguins: Sidney Crosby

Will he or won't he? As we struggle to see any way the Penguins return to contender status in the near future, everyone is wondering whether their captain will eventually seek his way to a new destination to finish his career and get into playoff games again. Crosby still has another year left on his contract, so the options are to either seek a trade between now and its conclusion, or sign another contract (when he's about to turn 40 years old) elsewhere. Whenever Crosby is asked about it, he shuts down any speculation, and since he's won three Stanley Cups already, his motivation may be to play his entire career with one team. We'll find out within the next year or so.

San Jose Sharks: Macklin Celebrini

Celebrini hit the ground running in the NHL last season with 63 points in 70 games, and another strong year might put him on the radar for Team Canada at the Olympics. On June 13 next summer, Celebrini will turn 20 years old, and 18 days later, he'll be eligible to sign an extension coming off his entry-level contract. The centrepiece of San Jose's rebuild, there's little question Celebrini will become their highest-paid active player, but how high could that AAV go on a maximum term extension if he breaks out further and cracks Team Canada?

Seattle Kraken: Vince Dunn

A bit of an underrated offensive defenceman, from 2022-23 through last season, Dunn was tied for 11th in even-strength points among all defencemen — two fewer points than Roman Josi in the same amount of games played. In that same time span, 128 NHL defencemen played at least 3,000 minutes at 5-on-5 and Dunn was 10th in goals for percentage, on the ice for 212 goals for and 154 against. Making $7.35 million against the cap now, this soon-to-be 29-year-old will be eligible to extend next summer and will be mixed up in the vastly changing contract landscape. He missed 43 games over the previous two seasons, so staying healthy would go a long way to frame his asking price.

St. Louis Blues: Dylan Holloway

A two-year, $2.29 million AAV is the offer sheet it took to get Holloway from Edmonton and he immediately paid off with a 26-goal, 63-point season. Through five games this season, the production hasn't come yet — Holloway has one goal, no assists and is a minus-4 so far — but the opportunity is there. The 24-year-old is averaging 19:15 of ice time per game (most among Blues forwards) and has 12 shots on goal. At that rate, eventually the numbers should come, and this is a contract year for the player, who will be moving off what was a bridge deal and looking to cash in on his breakout.

Tampa Bay Lightning: Nikita Kucherov

Earlier in this list we mentioned Artemi Panarin of the NY Rangers, who is a pending UFA with some question about his worth. Kucherov isn't at all there yet — he did score 121 points just last season — but when he heads into the final year of his contract next season, Kucherov will be 33, just as old as Panarin is now. It's hard to imagine Kucherov leaving Tampa Bay, and the Lightning have had no trouble keeping the players they want at reasonable rates, but what will a reasonable rate look like for Kucherov just before the cap jumps to $113 million or more? The Lightning are 1-3-2 so far this season, but what if there's anything sticky to that slow start?

Toronto Maple Leafs: Nick Robertson

For the first time in a while, one of the more interesting contracts on the Leafs isn't a "core" player. Auston Matthews is still signed for another two seasons, William Nylander has another six and John Tavares just re-signed at a discount. So how about Robertson, who has never scored more than 15 goals, hasn't been able to earn a permanent spot in this lineup, and yet the team can't quit him? Robertson will once again be an arbitration-eligible RFA next summer and between now and then, will be a trade/waiver candidate. The fear in Toronto is that they let go of this shooter and he knocks in 20 or more with a better opportunity elsewhere. But will they be able to bring out his best or at least acquire a useful piece if they move him?

Utah Mammoth: Logan Cooley

The true breakout season has maybe not come yet for Cooley, who was re-ranked as the top prospect from the 2022 class by Jason Bukala just under a year after he was chosen third overall. While he did finish as the second-highest scorer on Utah last season, it was a 65-point year and the hope is that, at his best, Cooley will deliver more. This season is the final one of his entry-level contract, and though eligible to sign at any time, a report just before the start of the season said he turned down a long-term, big-money offer already. Betting on himself to have a huge year, Cooley has two goals and one assist in six games.

Vancouver Canucks: Elias Pettersson

Armed with a full no-movement clause and supposedly in great shape, ready for a rebound season, the beginnings of 2025-26 have largely seemed very similar to the disastrous 2024-25 campaign for Pettersson. But the Canucks need their $11.6 million centre, because what's the alternative? A trade would certainly demand retention, and given that the team would be selling low, it's hard to envision how Quinn Hughes re-signs in another year if things have gone that badly. And now, with Filip Chytil out, Vancouver's lack of centre depth is brutally obvious, putting more pressure on Pettersson to produce. He is the X-Factor player on this team in so many ways, and that cap hit is on the books until 2032.

Vegas Golden Knights: Pavel Dorofeyev

One of the NHL's three goal-scoring leaders seven games into the season, Dorofeyev shouldn't be catching us by surprise after scoring 35 times last season. Lately, he's been playing even-strength minutes opposite Mitch Marner, but four of his seven goals have come on Vegas' devastating power play. Dorofeyev is not a particularly young player quickly coming out of his shell — he'll turn 25 years old on Sunday — so while he will be an RFA next summer, he would be UFA eligible in 2027, so he will hold some degree of leverage.

Washington Capitals: Alex Ovechkin

The all-time NHL goals record is his, and he's won a Stanley Cup, so what will Ovechkin do when this contract expires in the summer? He's still scoring at a high level (44 last season!) and the Capitals hope to contend for a Cup again with this group, so will that be enough to keep him around? Would it change his motivation if they won it all this season?

Another 40-goal season would put him within 60 or so of 1,000 all-time NHL goals — does that milestone entice him at all? Or is this the final NHL season for Ovechkin, and will his next contract be with a KHL team at 41 years of age?

Winnipeg Jets: Cole Perfetti

Winnipeg's second line is something of a question this season and Perfetti figures to be an important piece of it after a 50-point season a year ago. But he and the Jets are hoping for more from the 23-year-old player. Unfortunately, an ankle injury at the end of the pre-season has him sidelined week-to-week, so we have to wait and see what he'll deliver, and when. Perfetti is making $3.25 million a season on an expiring bridge deal and what he accomplishes this season will greatly influence where his next number goes.