Excitement is mounting around of the NHL Draft and ahead of free agency.
The trade market heated up as some teams looked to improve, while others sought to dump contracts and create salary cap space.
The Edmonton Oilers fell into the latter category. They traded power forward Evander Kane to the Vancouver Canucks for a fourth-round pick, while retaining none of his $5.125 million salary.
This salary dump will help the Men of Oil fit defenseman Evan Bouchard’s next contract and Leon Draisaitl’s huge raise under the salary cap. Oh, and Connor McDavid is due for an extension with his contract entering its final year.
That’s why the Oilers are also looking to dump winger Viktor Arvidsson’s remaining contract via a trade. There could be additional change, too, after Edmonton fell short in its second straight Stanley Cup Final.
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The Buffalo Sabres stayed on brand by making a bad trade, sending winger J.J. Peterka to the Utah Mammoth for bottom six winger Josh Doan and third-pairing defenseman Michael Kesselring.
Peterka signed a new deal that averages $7.7 million, helping set the market for other young forwards. It would have been hard for the Sabres to get that dollar amount, but was that the best they could get in return?
The Minnesota Wild traded depth Freddie Gaudreau to the Seattle Kraken for a fourth-round pick. Gaudreau had three years left on his deal with $2.1 million annual value, so the Wild got a bit of salary cap flexibility as GM Bill Guerin tries to improve the team get Kirill Kaprizov signed to his next contract.
That move made it less likely that the Wild will deal emerging forward Marco Rossi, a restricted free agent looking for large coin in his next deal. It also continued the Kraken’s effort to rebuild their supporting cast with sturdy veterans.
Keep an eye on contract bargaining for star forwards Artemi Panarin, Jack Eichel and Kyle Connor, three more stars who are entering the final year of their contract.
Also, where will playmaking winger Mitch Marner land? Judging from comments from his camp, he may take his time picking his next destination.
While all of this unfolds, Blues GM Doug Armstrong will patiently wait for his opportunity to make a value addition or two to a roster that is largely set.
He lurks while his rival GMs wheel and deal.
Here is what folks are writing about the hockey marketplace:
Ryan S. Clark, : “In 2024-25, the Utah Hockey Club was a top-10 team in terms of shot share, shots per 60 minutes rate, and scoring chances per 60 -- but finished 16th in goals per game. So there was a disconnect. With $20.357 million in salary cap space, a solution needed to be found for that problem. And so the latest significant move for Mammoth GM Bill Armstrong? Landing Peterka in trade, then immediately signing him to a five-year extension worth $7.7 million annually. Since Ryan and Ashley Smith purchased the franchise and moved the team to Salt Lake City, the Mammoth have taken a strategic yet aggressive approach. It started last year when they traded for a legitimate No. 1 defenseman in Mikhail Sergachev along with John Marino as part of a plan to revamp their blue line. Peterka is a continuation of that need to take another big swing. In doing so, the Mammoth add a 23-year-old proven goal scorer who not only addresses their need for more goals but also fits into their long-term plans. After scoring 28 goals and what was then a career-high 50 points in 2023-24, Peterka responded with 27 goals and 68 points in 77 games in what would be his final season in Buffalo.”
Matt Larkin, Daily Faceoff: “The Kings were close to a Stanley Cup contender this season. They were deep, they were defensively elite, and they got stellar goaltending from Darcy Kuemper. But despite driving the play at both ends, they finished 14th in goals and 27th in power-play efficiency. Marner isn’t a sniper, but he’s an elite facilitator; only four forwards averaged more primary assists per 60 on the power play this past season. No King has scored 100 points since Wayne Gretzky in 1993-94; Marner could fill their superstar void and forge a new long-term forward core alongside Quinton Byfield and Adrian Kempe as future Hall of Famer Anze Kopitar inches closer to this end of his career. Los Angeles would also provide Marner a refuge from the crushing pressure of Toronto while also not feeling like too small of a market. You’d get the big city excitement and a reasonable amount of anonymity.”
Shayna Goldman, The Athletic: “If the Oilers are going to get better, management has to make subtractions. Leon Draisaitl’s extension kicks in on July 1 and comes with a $5.5 million cap hit bump. There is the Evan Bouchard contract situation to navigate, and Connor McDavid is set to be up for a new deal in the 2025-26 season. If those aren’t enough rising costs, Edmonton still has to find a way to improve around those three core players. The Oilers need more scoring wingers and help in goal. In theory, Kane could have been one of those scoring wingers for 2025-26, after he missed the entire 2024-25 regular season with injuries. He scored six goals and 12 points in 21 playoff games. Perhaps the most impressive aspect is that 11 of the 12 points were scored at five-on-five, which ranked 12th in the league. The problem is that the offense can’t be counted on consistently enough, his defense is shaky and there are disciplinary issues. In the Stanley Cup Final alone, Kane took seven minor penalties — five in the first period, five in the offensive zone. While that didn’t necessarily cost the Oilers the series, it certainly contributed to their downfall. At the end of the day, that offense generally doesn’t outweigh all of the downsides that he brings to the table, and it’s not worth that much precious cap space, either. The 33-year-old takes up $5.1 million on the books, when his market value is closer to $3.7 million. Every cent matters in Edmonton right now. While this now gives management the task of replacing his production in a growing cap world, there’s more flexibility to do it.”
Adam Proteau, The Hockey News: “If anyone were to get a cap hit worth the maximum 20 percent of the cap for a player, it’d be McDavid. But that would severely hamstring the Oilers’ ability to surround him and fellow superstar Leon Draisaitl with top talent . . . Meanwhile, the Wild will have to give Kaprizov major mone – likely at least $12 million, if not more – to prevent him from becoming a UFA at this time next year. It would also be shocking if Vegas didn’t re-sign Eichel and if Panarin left the Rangers. Connor may be the most intriguing case here, as the Jets have been able to get star players signed far below market value. But Winnipeg needs the 40 goals and 90 points Connor provides, so he may hold the hammer in contract negotiations.”
Luke Fox, Sportsnet: “The loss of Mitch Marner to free agency has reached the stage of acceptance in Toronto. So, the immediate issue — with NHL draft weekend wheeling and dealing already underway and the UFA market set to open in five days — for Brad Treliving’s Maple Leafs is how to replace a 100-point Selke candidate in his prime with no obvious players of Marner’s caliber available . . . An opportunity to accommodate the forthcoming raise for pending RFA Matthew Knies and reward the power forward for his breakout 29-goal, 58-point sophomore campaign. An opportunity to bring back center John Tavares, who scored more goals in 2024-25 (38) than any other player heading toward unrestricted free agency. And an opportunity to consider raises for depth forwards Steven Lorentz, Max Pacioretty, Nick Robertson, and Pontus Holmberg before their contracts also expire next week.”
Pierre LeBrun, The Athletic: “Stop me if you’ve read this before (guilty as charged), but this might finally be the summer that John Gibson gets moved. It’s my understanding that several teams have inquired of late on Gibson, 31, who had a better season after a few injury-plagued ones and whose contract is down to two years left on it at a $6.4 million cap hit. It’s not a surprise that teams are calling as the UFA crop after Jake Allen isn’t very sexy. Gibson has a modified no-trade but is very open to a move. So Ducks GM Pat Verbeek and veteran agent Kurt Overhardt are working together on it. There’s a sense that it’s finally going to happen, but I will also add that Verbeek isn’t overly interested in retaining salary on the trade unless he’s incentivized to do so. He would take a contract back in a deal, though. And that contract could be another goalie.”
MEGAPHONE
“This core has been together for a long time and we've been building to this moment all along. The work that's gone on behind the scenes, the conversations, the endless disappointments and some good times along the way, obviously. We're all in this together, trying to get it over that finish line. With that being said, ultimately, I still need to do what's best for me and my family. That's who you have to take care of first.”
Connor McDavid, entering the final year of his contract in Edmonton.
