The countdown is on for the NHL Draft (June 27-28) and start of unrestricted free agency July 1, when an unexpectedly large salary-cap increase could mean greater-than-expected spending.
Here are five teams that could make the biggest moves this offseason. (See leaguewide cap numbers here at PuckPedia.com.)
Anaheim Ducks: 35-37-10 (80 points) | sixth in Pacific Division
The Ducks have not made the playoffs since the 2017-18 season, and ownership has made it clear the rebuild is "coming to an end," per The Sporting Tribune. The Ducks hired highly accomplished and highly controversial head coach Joel Quenneville with the goal of pivoting towards winning. They have the third-most salary cap space in the league ($38.69M) and young assets to package in a trade. Anaheim could open additional cap space by trading mercurial forward Trevor Zegras or longtime goaltender John Gibson.
Buffalo Sabres: 36-39-7 (79 points) | seventh in Atlantic Division
It looked like Buffalo was on the rise two seasons ago, but disappointment in back-to-back seasons under two different coaches likely will lead to change. Forward JJ Peterka, fresh off a breakout 68-point campaign, is entering his first contract negotiation as a restricted free agent and sits atop Frank Seravalli's Daily Faceoff Trade Board. Defenseman Bowen Byram, a fourth overall pick in the 2019 draft, is also on that trade board. He's two years away from unrestricted free agency and without a contract. Buffalo's $23.21M in cap space is 13th most in the league.
JJ PETERKA
— AFP Analytics (@AFPAnalytics) March 7, 2025
#15 on @frank_seravalli's trade board
We almost thought he went to #NYR last night. Not the case. Seems like Peterka might be the "shake things up" move for Buffalo. Extension talks might be getting to a level the Buffalo Sabres don't love. #Sabrehood #NHLTradeDeadline https://t.co/al76PFLnGU pic.twitter.com/OY5XxIfjpA
Chicago Blackhawks: 25-46-11 (61 points) | eighth in Central Division
Amid a full teardown, Chicago hasn't been competitive for five straight seasons. They are closing in on the point in the rebuild where it's time to start consolidating assets to build around the core. Chicago is young down the middle, on defense and in goal. Supplementing with better, more experienced players on the wing might be critical. The best player in free agency this summer probably will be Toronto winger Mitch Marner, and Chicago has $29.2M in cap space, fourth most in the league. The Blackhawks weren't quiet last summer, when they signed long-term deals with forwards Teuvo Teravainen and Tyler Bertuzzi. A sequel to last summer could be even bigger.
New York Rangers: 39-36-7 (85 points) | fifth in Metro Division
New York's collapse following a President's Trophy season in 2024 will only make GM Chris Drury more aggressive. He spent much of the 2024-25 season positioning the team for 2025-26. The acquisitions of top center J.T. Miller and defenseman Will Borgen were more about next season, and the hiring of former Penguins Stanley Cup-winning coach Mike Sullivan makes it clear the Rangers intend to reload.
Vince Mercogliano, who covers the Rangers for lohud.com, reported that a separation from longtime winger Chris Kreider is likely in the works. Elliotte Friedman of TSN reported recently on "32 Thoughts: The Podcast" that the Rangers could be shopping restricted free-agent defenseman K'Andre Miller.
Toronto Maple Leafs: 52-26-4 (108 points) | first in Atlantic Division
Toronto has the 11th-most cap space ($26.46M) and the expiring contracts of superstar winger Mitchell Marner and former captain John Tavares, a forward. The latter could return on a team-friendly deal, but early indications following Toronto's latest playoff disappointment are it will move on from Marner. That cap space could allow Toronto to get aggressive. It has been connected to Florida forward Sam Bennett and Pittsburgh defenseman Erik Karlsson.
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