Eastern Conference off-season preview: Tampa Bay Lightning

It was a quiet season for the Tampa Bay Lightning.

After winning back-to-back Stanley Cups in 2020 and 2021, the Lightning haven’t been able to get out of the first round since they fell in the Stanley Cup Final to the Colorado Avalanche in 2022. Their window of contention is quickly fading, if it’s not already gone.

Let’s take a look at how their 2024-25 season went, what they’ve done so far this off-season, as well as how the team stacks up in 2025-26.

How the season went

The Tampa Bay Lightning had a strong regular season, finishing with a 47-27-8 record with 102 points, the second-best point total in the Atlantic Division. They were especially strong at home, finishing with a 29-8-4 record, one of the best home records in the league. However, they were below .500 on the road, posting an 18-19-4 record.

They made one significant trade during the season, moving Michael Eyssimont, a 2025 second-round pick, their 2026 first-round pick, and their 2017 first-round pick for Oliver Bjorkstrand, Kyle Aucoin, Yanni Gourde, and a 2026 fifth-round pick and a 2025 fourth-round pick.

The Lightning had a first-round match-up against the Florida Panthers for the second consecutive season, and it didn’t go great. Game 1 was a 6-2 defeat, and Game 2 was a 2-0 defeat to put them in a hole early. They got a 5-1 win in Game 3, but followed that up with a 4-2 loss in Game 4 and a 6-3 loss in Game 5 to be bounced in the first round for the third consecutive season.

Both picks have top-10 protection, but we may look back at that mid-season trade as one of the worst in recent memory. 

Drafted players

The Lightning’s 2025 first-round pick was traded in an equally dismal trade that saw them acquire Tanner Jeannot back in 2023. Their first pick in the 2025 draft was with the 56th selection, using it to draft centre Ethan Czata from the Ontario Hockey League’s Niagara IceDogs.

In the fourth round, the Lightning selected centres Benjamin Rautiainen (108th) and Aiden Foster (127th). They also selected Everett Baldwin 151st overall. Moreover, the Lightning had four seventh-round picks, draft netminder Caleb Heil, centre Roman Luttsev, defenceman Grant Spada, and winger Marco Mignosa.

Trades

With all their picks traded, the Lightning weren’t very active in the trade market. They moved their 2025 sixth-round pick to the Carolina Hurricanes for 23-year-old Lucas Mercuri. On the second day of the draft, the Lightning traded their 2026 fourth-rounder to the Boston Bruins for a 2025 fourth-rounder.

Their lone notable move came on July 8, sending 2025 Hobey Baker winner Isaac Howard to the Edmonton Oilers in exchange for right-shot centre Sam O’Reilly.

Free agent signings

After losing captain Steven Stamkos and signing Jake Guentzel during the 2024 free agency period, it was a quiet July for the Lightning on the free agent side of things. Depth forward Pontus Holmberg secured a two-year deal worth $1.55 million annually, while Boris Katchouk signed a one-year deal worth $775,000.

The Lightning also agreed to terms with former Calgary Flame Jakob Pelletier after he didn’t receive a qualifying offer. They signed him to a three-year deal worth $775,000, a low-risk, high-reward type of signing.

Departures

The Lightning’s departures are more notable than their additions. Defenceman Nick Perbix was an important top-four defender for them last season, but he signed a two-year contract with the Nashville Predators.

They also lost Luke Glendening, who signed a professional tryout with the New Jersey Devils, while Cam Atkinson remains an unrestricted free agent.

What the team looks like heading into 2025-26

Although the Lightning have been eliminated in the first round the past three seasons, it’s still a strong team with Stanley Cup experience. Down the middle, they have Brayden Point, Anthony Cirelli, Nick Paul, and Gourde. On the wings, they have Guentzel, Nikita Kucherov, Brandon Hagel, Gage Goncalves, Conor Geekie, Bjorkstrand, Holmberg, and Chaffee. It’s not a bad forward core.

That said, their defence is a bit of a concern. Victor Hedman leads the defence, but the rest of the core is J.J. Moser, Ryan McDonagh, Erik Cernak, Emil Lilleberg, and Darren Raddysh, a clear area that will need an upgrade with very few assets to give up ahead of the trade deadline.

Between the pipes, Andrei Vasilevskiy had a strong season before collapsing in the playoffs. His backup could be Jonas Johansson.