The 2024-25 NHL season delivered exceptional excitement and memorable moments. Fans witnessed Alex Ovechkin break Wayne Gretzky`s all-time goals record, while the Florida Panthers clinched their second consecutive Stanley Cup, once again defeating the Edmonton Oilers in the Final. The 4 Nations Face-Off also provided intense international action, featuring the physical play of brothers Matthew and Brady Tkachuk against other Canadian players.
As the 2025-26 season approaches, what can we expect? The excitement is set to continue, highlighted by the much-anticipated return of NHL players to the Winter Olympics.
If you`ve been out of the loop with the NHL over the past few months, don`t worry – this comprehensive guide will bring you up to speed. We`ll cover all the significant developments: new hires, dismissals, player signings, trades, and crucial rule changes introduced through the new collective bargaining agreement. Get fully informed before the puck officially drops for the 2025-26 season!
NHL Players Make a Grand Return to the Winter Olympics
For the first time since the 2014 Sochi Games, NHL players will participate in the Winter Olympics in 2026. The league will pause its season from February 6th to 25th, allowing athletes to represent their home countries at the Games in Italy. Preliminary matches are scheduled to begin on February 11th, with the gold medal game set for February 22nd.
A “Super Bowl-style media day” launch event, as reported by the Sports Business Journal, will take place at UBS Arena in Long Island, New York, before players and coaches depart for the Milan-Cortina Olympics.
Anticipation for this Olympic tournament is incredibly high, especially after the success of last season`s 4 Nations Face-Off, which served as a thrilling international hockey preview. Fans are eager for another intense USA vs. Canada showdown, reminiscent of the Tkachuk-fueled physical confrontations and the dramatic overtime championship game seen in the 4 Nations tournament.
The twelve nations qualified for the men`s Olympic hockey tournament have already announced their initial six roster spots. The real drama now unfolds as players strive during the initial months of the NHL season to impress their national team general managers and secure a place on the final rosters. The complete 25-man Olympic rosters are expected to be revealed in early January. This gives players like Buffalo Sabres star Tage Thompson, who was overlooked for the 4 Nations, ample opportunity to catch the attention of Team USA GM Bill Guerin, the Minnesota Wild general manager who recently made history…
Kaprizov Secures an NHL-Record Contract
The hockey world was surprised when Minnesota Wild winger Kirill Kaprizov initially declined an eight-year, $128 million offer, which would have been the richest contract in NHL history. This led some to believe he might seek free agency the following summer. However, Kaprizov ultimately chose to remain with the Wild, signing an even more lucrative deal just a few weeks later.
Kaprizov and the Wild agreed to an NHL-record eight-year, $136 million extension, binding him to the team through the 2033-34 season. This contract sets new benchmarks for both total money and average annual value ($17 million), surpassing previous records held by Washington Capitals star Alex Ovechkin ($124 million) and Edmonton Oilers standout Leon Draisaitl ($14 million AAV). This new standard is expected to influence upcoming contract negotiations for wingers nearing free agency, such as Kyle Connor of the Jets and Adrian Kempe of the Kings.
The Wild went above and beyond to keep Kaprizov in Minnesota, securing their franchise player. Now, the challenge shifts to building a Stanley Cup-winning team around him.
Panthers` Three-Peat Bid Jeopardized After Challenging Summer
Following their second consecutive Stanley Cup Final victory over the Oilers, the Florida Panthers now aim to achieve a feat not accomplished since the New York Islanders` dynasty in the 1980s: winning three straight Stanley Cups and reaching four consecutive Finals.
The Panthers began their quest impressively this offseason by retaining three key free agents: center Sam Bennett (eight years, $8 million AAV), defenseman Aaron Ekblad (eight years, $6.1 million AAV), and, remarkably, winger Brad Marchand, the 37-year-old trade deadline acquisition who signed a six-year, $31.5 million extension.
However, the Panthers have since faced significant setbacks. Star winger Matthew Tkachuk is anticipated to be out until at least December after undergoing surgery for a sports hernia and torn adductor muscle. Additionally, captain Aleksander Barkov suffered an ACL and MCL tear in his right knee during his first training camp practice, requiring surgery. He is expected to miss the entire regular season, with his playoff status remaining uncertain.
Vegas Acquires Marner, Loses Key Defenseman
The Vegas Golden Knights enter the season as one of the Western Conference favorites, following an offseason marked by a major acquisition and a significant loss to their roster.
Vegas secured the offseason`s biggest free agent in Toronto Maple Leafs winger Mitch Marner. Marner, who recorded 102 points in 81 games last season but faced scrutiny due to the Leafs` playoff struggles, was acquired by Vegas in a trade that sent center Nicolas Roy to Toronto prior to free agency. He then signed a franchise-record eight-year, $96 million contract and is expected to join star center Jack Eichel on the top line.
Yet, the Golden Knights` defensive corps took a hit when star defenseman Alex Pietrangelo announced in June he was stepping away from “the intensity of hockey” to focus on improving his injured hip, hoping to regain “a normal quality of life.” He is projected to miss at least the 2025-26 season. Pietrangelo, 35, chose rehabilitation over surgery but did not rule out a potential return to play later if his condition allows.
Despite Calm Offseason, Several Teams Made Notable Moves
In January, the NHL and NHLPA revealed salary cap projections for the next three years, indicating a rise from $95.5 million this season to $113.5 million by 2027-28. While many anticipated this financial flexibility would trigger numerous player movements via free agency and trades, teams largely used the increased cap space to retain their existing talent rather than acquire new players.
Beyond the Panthers` trio, other notable players who re-signed with their current teams include:
- Columbus Blue Jackets defenseman Ivan Provorov (seven years, $8.5 million AAV)
- Detroit Red Wings winger Patrick Kane (one year, $3 million)
- Vancouver Canucks winger Brock Boeser (seven years, $7.3 million AAV)
- New Jersey Devils goalie Jake Allen (five years, $1.8 million AAV)
However, the offseason still saw several significant player movements:
- Nikolaj Ehlers departed Winnipeg for a six-year, $8.5 million AAV deal with the Carolina Hurricanes, where he is expected to be a top-line winger. The Hurricanes also acquired New York Rangers defenseman K`Andre Miller in a trade involving prospect Scott Morrow. Miller, a restricted free agent, signed an an eight-year, $60 million contract with Carolina post-trade.
- Former Carolina defenseman Brent Burns, a perennial veteran seeking a Cup, signed a one-year, $1 million deal with the Colorado Avalanche.
- Vladislav Gavrikov moved from Los Angeles to New York City, signing a seven-year, $7 million AAV deal with the Rangers.
- Mikael Granlund transitioned from Dallas` “Finnish Mafia” line to the Anaheim Ducks, signing a three-year, $7 million AAV contract.
- Forward Chris Kreider, a Ranger for 13 years with 326 goals in 883 career games, was traded to Anaheim.
- The Ducks traded former phenom Trevor Zegras to the Philadelphia Flyers.
- Defenseman Nate Schmidt, instrumental for the Panthers, leveraged his success into a three-year, $3.5 million AAV deal with Utah.
- The Mammoth (Utah`s officially nicknamed team) made a significant trade, acquiring forward JJ Peterka from the Buffalo Sabres in exchange for defenseman Michael Kesselring and forward Josh Doan.
- The Seattle Kraken obtained forward Mason Marchment from the Dallas Stars in a trade.
- The Canucks brought Vancouver native Evander Kane home in a trade with Edmonton.
- To accommodate Marner, the Golden Knights sent defenseman Nicolas Hague to Nashville for Colton Sissons and Jeremy Lauzon.
- The Montreal Canadiens strengthened their defense by acquiring Noah Dobson from the New York Islanders hours before Round 1 of the draft, giving up two first-round picks and forward Emil Heineman.
- The Columbus Blue Jackets picked up Colorado forwards Charlie Coyle and Miles Wood for forward Gavin Brindley and draft picks.
- The Wild acquired forward Vladimir Tarasenko from the Detroit Red Wings for future considerations.
- Finally, the Detroit Red Wings aimed to resolve their goaltending issues by acquiring Anaheim Ducks netminder John Gibson for goalie Petr Mrazek and two draft picks.
New Collective Bargaining Agreement Sees Early Implementation
Labor peace hasn`t always been a given with the NHL and NHLPA, so the relatively smooth creation of their new collective bargaining agreement (CBA) was a welcome development. Although the new CBA officially commences in September 2026, both parties agreed to fast-track several changes for the 2025-26 season.
A key amendment affects how teams can utilize long-term injured reserve (LTIR) to create salary cap space during the regular season. If a team opts to replace an injured player`s full salary amount, that player will be ineligible to return during the playoffs. Otherwise, teams can only access additional cap space up to “the prior season`s average league salary.”
Furthermore, a postseason cap has been introduced for the first time. The new regulation stipulates that a team can only field a playoff roster if the total average contract values remain within that season`s salary cap.
Other changes expedited for this season include the elimination of deferred payment contract structures and “double retention” trades. Double retention, where two teams would retain portions of a player`s salary before he was traded to a third club, had become a common tactic at the trade deadline.
On a more informal note, relaxed player dress codes were also fast-tracked for this season.
CBA provisions scheduled for September next year include revised contract term limits (a maximum of six years for free agents and seven for players already on the roster by the last trade deadline) and the establishment of emergency goaltender replacements for each team.
What`s Next for Alex Ovechkin?
The NHL will bid farewell to one superstar this season: Los Angeles Kings center Anze Kopitar, who announced that 2025-26 will be his final year. On the same day as Kopitar`s announcement, another legendary player, Alex Ovechkin of the Washington Capitals, revealed he had yet to make a decision about his future.
Ovechkin, 40, will become an unrestricted free agent after this, his 21st season. Last season, he solidified his place in history by becoming the NHL`s all-time leading goal scorer, surpassing Wayne Gretzky`s 894 goals to finish with 897. Despite a broken leg that caused him to miss 16 games, the Capitals captain demonstrated he wasn`t slowing down by scoring 44 goals.
When recently asked if he had decided whether 2025-26 would be his final NHL season, he responded, “I don`t know if this is going to be the last. We`ll see.”
Ovechkin has not discussed his future with the team, and GM Chris Patrick indicated that the Capitals are also unsure of his intentions.
While his retirement remains unconfirmed, Ovechkin still has more milestones to pursue: becoming the first player in NHL history to score 900 goals, and reaching 1,700 points (he needs 77 more, while his lifelong rival, Pittsburgh Penguins captain Sidney Crosby, is only 13 points away from this achievement).
Joel Quenneville Returns to Coaching with the Ducks
The Anaheim Ducks have hired Joel Quenneville to replace Greg Cronin, who was dismissed after two seasons. Quenneville`s return marks his first coaching role in the NHL since 2021, when he resigned from the Florida Panthers following the repercussions of the Chicago Blackhawks` sexual assault case.
An independent report from October 2021 detailed the Blackhawks organization`s failure to adequately address allegations by player Kyle Beach, who claimed he was sexually assaulted by video coach Brad Aldrich during the team`s 2010 Stanley Cup run. Quenneville was the head coach at that time.
Following the report, the NHL declared Quenneville, along with Blackhawks executives Stan Bowman and Al MacIsaac, ineligible for league employment until reinstated by Commissioner Gary Bettman. Their bans were lifted in July 2024. Bowman subsequently became general manager of the Edmonton Oilers that summer, while Quenneville waited until May 2025 to join the Ducks.
GM Pat Verbeek stated that the team consulted numerous individuals before hiring Quenneville. “Our findings align with Joel`s account that he was not fully aware of the gravity of what transpired in 2010,” Verbeek commented. “It`s clear that Joel deeply regrets not asking more questions at the time, has shown significant personal growth and accountability, and has earned the chance to resume coaching.”
Quenneville, 67, takes charge of a Ducks team featuring a core of promising young stars and veteran additions, including former Rangers captain Chris Kreider, signed as a free agent. Anaheim is striving for its first playoff appearance since 2018. Quenneville is currently 275 wins shy of tying Hall of Famer Scotty Bowman`s record for most all-time NHL coaching victories.
The Continual Coaching Carousel
This offseason saw several experienced coaches move to new teams. Beyond Quenneville, familiar faces now behind different benches include:
- Mike Sullivan, departing the Pittsburgh Penguins after 10 seasons to take over the New York Rangers, replacing Peter Laviolette. Former Rangers assistant coach Dan Muse is now leading the Penguins.
- Rick Tocchet, an 11-season veteran player for the Philadelphia Flyers, is now their head coach, having moved from the Vancouver Canucks. His former assistant, Adam Foote, now leads Vancouver.
- Jeff Blashill, former Detroit Red Wings coach, is now coaching the Chicago Blackhawks.
- Former New York Islanders coach Lane Lambert has taken the helm of the Seattle Kraken, after Dan Bylsma was fired following one season.
- Marco Sturm, previously coaching the Los Angeles Kings` AHL affiliate, is now the head coach of the Boston Bruins.
- Finally, the Dallas Stars welcome a familiar face to their bench: Former Edmonton Oilers assistant coach Glen Gulutzan, who previously served as the Stars` head coach from 2011 to 2013. He replaces Pete DeBoer, who guided Dallas to three consecutive Western Conference Finals, each ending in a loss.
Introducing the Rookie Class of 2025-26
A host of promising rookies are poised to make an immediate impact this season.
Montreal Canadiens forward Ivan Demidov is an early favorite for the Calder Trophy. The 19-year-old showcased an impressive offensive game in Russia and arrived late last season with a dazzling skill set. Other rookie forwards to keep an eye on include Jimmy Snuggerud (St. Louis Blues), Ryan Leonard (Washington Capitals), Michael Misa (San Jose Sharks), and the Oilers` duo of Matthew Savoie and Isaac Howard – particularly if they get ice time with Connor McDavid and Leon Draisaitl.
However, defensemen might represent the strongest segment of this rookie class. First overall pick Matthew Schaefer brings exceptional puck-handling and renewed hope to the Islanders. Carolina Hurricanes defenseman Alexander Nikishin, who was quickly thrust into playoff action last year, is set to be a significant 6-foot-4 presence this season. Zeev Buium of the Minnesota Wild also debuted in the playoffs and could become their power-play quarterback. Similarly, 6-4 defenseman Sam Rinzel of the Chicago Blackhawks is one to watch. Zayne Parekh of the Calgary Flames could emerge as the NHL`s next top offensive defenseman.
Two goaltenders to monitor closely are Yaroslav Askarov of the San Jose Sharks and Jesper Wallstedt of the Wild, both of whom could soon become their respective teams` primary netminders.
Florida Set to Host Historic Outdoor NHL Games
Commissioner Bettman has hailed this era as “the golden age of hockey” in Florida, citing the game`s growth at all levels and the recent Stanley Cup victories by local NHL teams. Perhaps the clearest evidence of this success is the Sunshine State hosting its first two outdoor NHL games in 2026.
The Florida Panthers and New York Rangers will face off in the Winter Classic on January 2nd at LoanDepot Park, home of the Miami Marlins. This marks the first outdoor game appearance for the two-time defending Stanley Cup champions.
The Tampa Bay Lightning have only played outdoors once, in Nashville in 2022. On February 1st, at Raymond James Stadium, home of the Tampa Bay Buccaneers, the Lightning will host the Boston Bruins.
With the Panthers now having an outdoor game, the Utah Mammoth remain the only current NHL team yet to participate in an outdoor event.
The Future of the Penguins` Core: A Crossroads?
For two decades, Sidney Crosby, Evgeni Malkin, and Kris Letang have formed the cornerstone of a Penguins team that secured three Stanley Cups. However, those glory days feel distant now. The Penguins have missed the playoffs for three consecutive seasons and haven`t advanced beyond the first round since 2018. General Manager Kyle Dubas has been hesitant to initiate a full rebuild due to the continued presence of this legendary trio. However, that situation may be on the verge of change.
Malkin, 39, is in the final year of his contract. While he desires to remain with the Penguins, he informed reporters that he was intrigued by the “great story” of Brad Marchand leaving his longtime team (Boston) to help the Florida Panthers win the Stanley Cup.
Crosby, 38, is signed for two more seasons. He has consistently expressed his wish to stay in Pittsburgh, holding onto the hope that a young supporting cast could coalesce into a playoff contender. However, with many predicting the Penguins to finish last in the Metro Division, Crosby`s only path to another Stanley Cup might involve joining another NHL team – a prospect that has already generated considerable speculation within the league.
Crosby, Malkin, Letang, and star defenseman Erik Karlsson all possess no-movement clauses, granting them control over whether and when they might depart Pittsburgh. The rest of the NHL eagerly awaits their decisions, especially concerning “No. 87.”
Connor McDavid`s Future: A Looming Uncertainty
Finally, the most pressing question circulating throughout the NHL as the new season commences: Will the world`s best player truly become the most sought-after free agent in hockey history?
Connor McDavid, 28, boasts an impressive resume: five scoring titles, three regular-season MVP awards, and one playoff MVP award – making him only the second skater to win the Conn Smythe Trophy in a losing effort. He has accumulated an astonishing 1,082 points in 712 games and has led the Oilers to consecutive Stanley Cup Finals.
However, he is also entering the final year of the eight-year, $100 million contract he signed in 2017.
McDavid has indicated he is taking his time to consider his next steps, including evaluating the long-term championship prospects with the Oilers. Sources have informed various outlets that “everything is on the table” for McDavid, ranging from a team-friendly, short-term deal to continue pursuing a Cup with Edmonton, to entering the open market as an unrestricted free agent, which would undoubtedly command an NHL-record contract.
Indeed, this decision alone could reshape the NHL landscape and determine whether the league`s greatest talent will finally achieve the championship that has, so far, eluded him. So, no pressure, Connor…
This is just one more reason why the 2025-26 season promises to be a wild and unpredictable journey. Enjoy the ride, hockey fans!
Duncan Priestley