Even with several big names already off the board, the NHL’s free agency will see many teams land big talents and flex the muscle of the league’s record-level salary cap.
The NHL’s free agency window opens at noon ET Wednesday, and while it almost certainly won’t be as frenetic as the NBA’s comparable period, attention is still focused on a collection of notable talents. Among them:
- Sergei Bobrovsky. The Panthers goaltender has won two Stanley Cups in Florida and two Vezina Trophies. Though Bobrovsky turns 38 in September and had a more downbeat season in 2025–26, he’s still by many accounts the top available talent. The Panthers, meanwhile, traded for Devils goaltender Jacob Markstrom on Tuesday, further signaling that Bobrovsky almost certainly won’t return to Florida.
- John Carlson. The veteran defenseman, most recently with the Ducks, is one of the top-scoring players at his position, posting a 60-point season in 2025–26 between Anaheim and Washington. The Stanley Cup champion Hurricanes have exclusive negotiating rights with Carlson until free agency opens.
- Rasmus Andersson. The Golden Knights defenseman was part of the team’s run to the Stanley Cup Final after joining the team in a midseason trade with Calgary. The 29-year-old is considerably younger than many other top available free-agent players.
- Alex Ovechkin. The NHL’s all-time leading goal scorer, set to return 41 in September, is still deciding whether to return and delay retirement. Most recently, there have been increasing suggestions that Ovechkin is inclined to return to play for a 22nd NHL season. While Ovechkin is able to sign with any team, it’s hard to imagine he would elect to play anywhere but Washington.
The 2026 free-agent class could have been even bigger, but several big stars previously set to hit the market have already signed extensions covering the upcoming season, including the Oilers’ Connor McDavid and the Wild’s Kirill Kaprizov.
Most recently, the Sabres reached a sign-and-trade deal with Washington involving forward Alex Tuch. After a 33-goal season, Tuch signed an eight-year, $84 million pact that kept him out of free agency and brought the Sabres a return of forward David Kampf and a third-round draft pick in 2027.
The Big Money
The NHL’s free-agent period is unfolding as teams have increased latitude from a 2026–27 salary cap reaching a league record $104 million.
That figure—$8.5 million higher than this past season—reflects a sharply escalating revenue situation for the league. An even bigger jump for the 2027–28 season is likely, as current projections point to a $113.5 million salary cap then.
Meanwhile, pressure is rising on several venerable NHL teams such as the Maple Leafs, Rangers, and Red Wings that have huge fan followings and league-leading franchise valuations, but missed the playoffs. Toronto, out of the postseason last season for the first time in a decade, in particular is looking to continue its rebuilding process after selecting Penn State forward Gavin McKenna with the first pick in last week’s draft.
“There are some bigger swings we’ll take and [we’ll] look at some things,” said the Maple Leafs newly hired GM, John Chayka. “There are some players we like. There are some needs we have. We will be aggressive, but we will also make sure we are not doing anything to hurt the future.”
