Free Agent Focus: Ottawa Senators

Free agency is just over a month away, and teams are looking ahead to when it opens. Even with the UFA crop being thinned out in recent months, there will be some quality veterans set to hit the open market in July, while many teams also have key restricted free agents to re-sign. We continue our look around the NHL with an overview of the free agent situation for the Senators.

Key Restricted Free Agents

D Jordan Spence – Spence will be one of Ottawa’s key free agents this season. The Senators gambled on the puck-mover by trading one third-round and one sixth-round pick to the Los Angeles Kings last year. Spence paid off the test, reaching a new career-high in scoring with 31 points in 73 games. More than that, he often filled the moment, stepping up as Ottawa’s driver amid injuries to Thomas Chabot and Jake Sanderson. But what Spence brought on offense wasn’t backed by shutdown defense. He was reliable in stints but may not have filled shoes big enough to stay ahead of top prospect Carter Yakemchuk. A new deal could give Ottawa a versatile, third-pair option – though it could also block Ottawa from a potential free-agent addition or re-signing one of their right-shot unrestricted free agents.

F Arthur Kaliyev – The Senators will have another head-scratcher as they considered Kaliyev’s free agency. He failed to break camp with the team and, despite a two-game call-up in October, couldn’t earn footing with the Senators through the year. That left Kaliyev in a full-time, AHL role for the first time since the 2020-21 season. He dominated the minors, scoring a league-leading 40 goals and finishing ranked third with 68 points through 70 games. But the hot scoring couldn’t distract from a bumpy season on and off the ice. If Ottawa still feels Kaliyev can’t earn an NHL role, this summer could be the chance for a timely change of scenery.

G Leevi Merilainen – Existing in the space between the majors and minors was Merilainen, who had a near perfect split between NHL and AHL lineups. He had ups-and-downs in both leagues – notching eight wins in each to go with a .860 Sv% in the NHL and .909 Sv% in the minors. Merilainen failed to back up what seemed to be a breakout performance in the 2024-25 season – when he recorded a .925 Sv% in 12 NHL games and a .913 Sv% in 37 AHL games. While he is prone to letting up big games, Merilainen has never quite seemed out of place at the top level. At only 23 years old, he seems to be a worthwhile project with the backup role open.

Other RFAs: F Xavier Bourgault, F Riley Kidney, F Tyler Boucher, D Djibril Toure

Key Unrestricted Free Agents

F Claude Giroux – Giroux has confirmed his willingness to return for a 20th NHL season per TSN’s Pierre LeBrun. His chances of returning to the Senators seem high, even despite posting his lowest per-game scoring rate since the 2009-10 season. Giroux rotated between the middle-six center and wing positions – offering the flexibility to support Dylan Cozens and Ridly Greig gather their footing. But Giroux’s talents as a puck-moving center haven’t been fully appreciated in a growing Senators offense. He has posted a 59.9 faceoff percentage in 327 games with Ottawa and could earn a final payday by seeking to fill a second-line center role elsewhere in the league. With nearly $17MM in cap space, Ottawa should have enough money to keep that from happening – but potentially not enough short-term upside.

F Nick Cousins – In a year of lineup decisions, Cousins’ return seems like the strongest certainty. Ottawa is working on deals for both he and Giroux per Bruce Garrioch of the Ottawa Citizen. Cousin’s deal should be considerably cheaper, after he filled an important-but-minimal lineup role. He finished the season with 23 points and a career-high 92 penalty minutes – while also playing through more than 80 games for just the second time in his 12-year carer. His hard-working, physical presence was integral to Ottawa’s bottom lines this season and should remain a key card in the Senators’ deck. At 32, Cousins is likely to earn a few more years, and a raise back to a seven-figure salary, to stick around.

Other UFAs: F Lars Eller, D Nick Jensen, D Lassi Thomson, D Dennis Gilbert, G James Reimer, F Garrett Pilon, F Olle Lycksell, F Graeme Clarke, D Samuel Bolduc, G Mads Sogaard

Projected Cap Space

Ottawa wields $16.98MM in projected cap space per PuckPedia. They intend to push that figure as far as they can in the name of building a playoff roster. Ottawa has shown interest in adding a top-six forward and an impactful defender, even showing explicit interest in Anaheim Ducks forward Mason McTavish. They will face interesting lineup questions as they entertain the open market, namely how to fit emerging prospects Yakemchuk, Greig, and Stephen Halliday – but shouldn’t be held back from aiming for big fish.