Florida Panthers Free Agency 2026 Recap

Bill Zito has been busy prior to free agency opening. In doing so, most of the work is already done, with just depth pieces left to fill out the roster. Prior to free agency, Zito traded for Brady Tkachuk, Jacob Markstrom, Akira Schmid, and the rights to Radko Gudas. The biggest bit of news that broke for the Cats was an 8×5 extension for Eetu Luostarinen. The Finn is an extremely underrated part of Florida’s forward group, but is integral to the team’s defense. He doesn’t have flashy point numbers, putting up 33 pts in 73 games last season. However, if you watched the 2025-26 Panthers, then you know that some of their worst games of that entire season were the 8 games that Eetu missed due to his BBQ accident. The only playoff series they lost in their 2023-2025 playoff runs was the one to Vegas in 2023, where Luostarinen had a broken leg and didn’t play. Not saying Florida would’ve won that series if he had played, but what he brings to the team is often overlooked. During the Panthers’ most recent Cup Run, Eetu had his best postseason to date, putting up 19 points in 23 games with 5 goals & 14 assists. His value to the PK and 5v5 defense can’t be overstated. Eight more years at a reasonable 5 million with the cap going up is an absolute steal for the Panthers. He’s also on the younger side of the core at only 27. On Eetu’s extension, Bill Zito said, “A key piece of our two Stanley Cups, I am thrilled that Eetu will continue his career with the Panthers. A consummate professional who is committed to being a difference-maker at both ends of the ice, his work at even strength and on the penalty kill is critical to our team’s success in South Florida.”

Florida was able to strike a deal with Gudas prior to free agency opening. Coming at a 1.5 million AAV, the cost of keeping the cap hit low is 6 years on the contract; however, there is no trade protection on the deal. If it ends up being dead cap later on, it won’t be a huge detriment for the Panthers. Radko is no stranger to the Panthers, as he was part of their 2023 playoff run to the finals. He’s played in Paul Maurice’s system and fits Florida’s preferred type of player. Bill Zito said, “Radko is a proven, experienced leader and strong, reliable defensive presence for our blue line. He is keenly familiar with our team, having been a big part of our first run to the Stanley Cup Final in 2023, and we are thrilled to welcome Radko and his family back to South Florida.”

An extension that came out just after free agency started was Florida extending prospect Sandis Vilmanis, who made his NHL debut this past season. Not at all a surprising move for anyone who has paid attention; Vilmanis played 19 games for Florida last season, but most importantly, he went and played at the Olympics and at World Championships. Vilmanis was fine at the Olympics but became a breakout star on Team Latvia during Worlds. He put up 11 points while there, the same amount as Captain Sasha Barkov, in just eight games. The two-year extension keeps him in South Florida a bit longer, and he had an excellent year in Charlotte. Vilmanis logged 38 pts in 48 games, which had him 3rd in points on the Checkers. On Sandis, Zito had this to say, “Sandis is a skilled, competitive, young player whose positive attitude and strong work ethic have allowed him to succeed at every opportunity he has earned. He continues to take real strides in his game, and we’re proud that he has committed to a further two years in South Florida.

Despite not getting a qualifying RFA offer from the Panthers, Cole Schwindt was still signed to a 2-year extension. He came in last season as the injuries piled up for the Cats and was a solid, reliable depth piece. He played 29 games and posted 7 points (5G, 2A). Most notably, he also ended up missing roughly two months because he broke his wrist in a collision with Bobrovsky. Zito had this to say about Schwindt, “Cole has developed into a well-rounded two-way forward who fits seamlessly with our team. He competes hard every night, and we are pleased to have him back as part of our strong forward group for the next two seasons.”

Florida picked up Alexander Petrovic from the Dallas Stars on a 2-year contract. With the Stars, he played 54 games and had 10 pts (2G, 8A). At 6’5 and 215 pounds, he fits the Cats’ preferred type of defenseman. They are adding age to the blueline, with most of the defense either at 30 or over 30; however, that doesn’t mean he can’t be a solid depth piece on the back end, especially if he’s not taking wear and tear every night. Petrovic may end up down in Charlotte, as he spent time on the Texas Stars while with the Dallas organization. He was last on the Panthers in 2018 and played 254 of his 323 career NHL games in South Florida. On the signing, Bill Zito said, “Alex is a stalwart shutdown defenseman who brings size and depth to our blueline. We are excited to welcome him back to our organization.”

At his presser on Wednesday, Bill started off by thanking all the players who have left in free agency and revealed that Donovan Sebrango and Lars Eller both got 1-year deals. Sebrango did not get a qualifying offer initially. July 1st has been a tidy bit of work for the Cats as Zito fills out the roster around the edges. Whether or not the goalie tandem of Markstrom and Schmid works out is yet to be seen. I’m willing to reserve judgment on it until we see a sample size of what the goalies look like with the team. Though Schmid doesn’t have a contract yet, Zito said in his presser he doesn’t anticipate any difficulty getting it done. It’s been an interesting first day of free agency for Florida, a lot of re-signings and prior players returning, not much wholly new blood in the mix.