The condensed NHL offseason timeline, featuring the draft, significant trades, and free agency compressed into just ten days, presented a prime opportunity for every team`s front office to enhance its roster. Some general managers only needed a few strategic player additions to maintain their status as top Stanley Cup contenders or elevate to that level. Others had to adopt a more aggressive approach to boost their team`s competitive standing, or perhaps they were focused on building towards a serious playoff push in 2026-27 or beyond.
With the initial phase of acquisitions and roster adjustments now finalized, it`s time to offer an impartial evaluation of each front office`s performance based on what could reasonably be expected from them.
Presented here are report cards for all 32 NHL teams, reflecting the transactions completed up to the end of Monday. These assessments consider the actual moves made, the potential moves they might have aimed for, and the specific needs they faced heading into the lull period between mid-July and the commencement of training camps in September.
Note: Advanced statistics references were drawn from Natural Stat Trick and Evolving Hockey. Cap and contract details are based on PuckPedia data as of July 8th. Teams with negative remaining cap space are over the cap and must become compliant by the season`s opening night. This report was compiled with coverage split between writers: one covered the Atlantic and Metro divisions, and the other the Central and Pacific divisions. Teams are listed alphabetically within each letter-grade category.
A GRADES
Florida Panthers
Key players added: D Jeff Petry, G Daniil Tarasov
Key players lost: D Nate Schmidt, G Vitek Vanecek
Remaining cap space: None (projected $2,950,000 over)
Overall grade: A+
Florida`s General Manager, Bill Zito, earns top marks for successfully retaining all essential components of the Panthers` recent championship-contending core, preventing them from reaching the open market. Players like Sam Bennett, Aaron Ekblad, and Brad Marchand were signed to long-term deals, positioning the club to potentially secure hockey`s most prestigious trophy for a second consecutive year. Zito`s efforts were undoubtedly aided by players willing to accept less money than they might have found elsewhere, highlighting the appeal of being part of a winning environment.
Zito also identified a promising young goaltender in Tarasov to serve as Sergei Bobrovsky`s backup for the upcoming season, potentially offering an upgrade over Vanecek.
Florida also made several less-publicized additions across the roster under Zito`s guidance. These included replacing the departing Schmidt with Petry, re-signing veteran fourth-liner Tomas Nosek, and bringing in Brandon Bussi and Nolan Foote.
Panthers` depth has been a crucial asset during their extended postseason runs, and Zito`s astute management has once again positioned Florida strongly to be an elite team over the next year. Frankly, he maximized the team`s chances of establishing a true dynasty.
Anaheim Ducks
Key players added: F Mikael Granlund, G Ville Husso, F Chris Kreider, G Petr Mrazek, F Ryan Poehling
Key players lost: G John Gibson, F Trevor Zegras
Remaining cap space: $28,988,812
Overall grade: A
Simply put, the Anaheim Ducks likely had one of the most impactful offseasons across the entire NHL. When people discuss an “NHL window,” it usually refers to championship hopefuls aiming to win before their roster becomes unsustainable. For the Ducks, their “window” involves leveraging a skilled young core still under team-friendly contracts, allowing them significant financial flexibility to spend elsewhere, at least for the moment.
This strategy was evident when the Ducks acquired Kreider via trade, who carries a $6.5 million average annual value for the next two years. Trading away Gibson and Zegras freed up $12.15 million in salary cap space.
A portion of these savings was used to sign top-nine forward Granlund. The assets received from their trades enabled the Ducks to fill other roster needs at cost-effective rates. Following the initial free agency period on July 1st, GM Pat Verbeek appears to have ample funds remaining to secure new contracts for restricted free agents like Lukas Dostal, Drew Helleson, and Mason McTavish.
St. Louis Blues
Key players added: F Nick Bjugstad, D Logan Mailloux, F Pius Suter
Key players lost: F Zach Bolduc, F Radek Faksa
Remaining cap space: $625,150
Overall grade: A
St. Louis Blues GM Doug Armstrong didn`t need to make numerous moves this offseason, but the three primary transactions he completed were highly significant.
Armstrong could afford to part ways with Bolduc because the team already had six forwards who exceeded 18 goals, and they also factored in the expected role for promising prospect Jimmy Snuggerud. Trading Bolduc to Montreal for Logan Mailloux provided the Blues with a young defensive option, particularly relevant given that Torey Krug will not play next season (and possibly longer).
By signing Nick Bjugstad, the Blues acquired an experienced, physically imposing third-line center capable of anchoring the bottom six forward group. Bringing in Pius Suter on a two-year deal further strengthens the Blues` center depth, providing another forward who surpassed the 18-goal mark last season.
Utah Mammoth
Key players added: F JJ Peterka, D Nate Schmidt, F Brandon Tanev, G Vitek Vanecek
Key players lost: F Josh Doan, D Michael Kesslering, F Matias Maccelli
Remaining cap space: $6,657,143
Overall grade: A
The Utah Mammoth are strongly positioned to either qualify for the playoffs this season or come exceptionally close.
They executed one of the offseason`s most notable trades to acquire JJ Peterka and immediately signed him to a five-year contract extension, securing another top-six scoring threat. This move left Mammoth GM Bill Armstrong with significant cap space to sign veterans to address other areas of need.
The addition of Nate Schmidt means the team has seven established defensemen under contract. Utah has the flexibility to either proceed with this defensive group – providing insurance against injuries – or potentially trade one defenseman to acquire help elsewhere on the roster.
Carolina Hurricanes
Key players added: D K`Andre Miller, F Nikolaj Ehlers
Key players lost: D Brent Burns
Remaining cap space: $10,644,291
Overall grade: A-
Carolina finally made the move they`ve been targeting. After multiple attempts – and near misses – to add a top-six scoring winger to their roster, GM Erik Tulsky successfully landed a game-changing player by signing highly sought-after free agent Nikolaj Ehlers to a six-year contract worth $51 million. This acquisition provides the significant offensive boost Carolina has been seeking for the past couple of years, if not longer.
Prior to signing Ehlers, Tulsky also completed an impressive sign-and-trade deal with the New York Rangers for K`Andre Miller, a promising defenseman who is expected to strengthen Carolina`s blue line further, especially now that veteran Brent Burns has joined Colorado via free agency.
While Ehlers is an excellent addition, Tulsky has yet to address the Hurricanes` need for a second-line center. There is still time to potentially resolve this situation before the season begins.
Nonetheless, the moves Carolina has already completed are more than sufficient to re-establish them as strong favorites to reach the Eastern Conference finals again – or go even further.
Montreal Canadiens
Key players added: D Noah Dobson, F Zachary Bolduc
Key players lost: D Logan Mailloux, F Emil Heineman
Remaining cap space: $-4,454,167
Overall grade: A-
The Montreal Canadiens are unlikely to be a surprise team making the NHL playoffs this season; rather, their appearance is expected. GM Kent Hughes ensured this by executing a major trade with the New York Islanders to acquire right-shot defenseman Noah Dobson, whom he subsequently signed to an eight-year contract with a $9.5 million average annual value.
Was it inexpensive? No. Was it worthwhile? Absolutely. Montreal`s rebuilding phase has been extensive, and it`s time to maximize the prime years of players like Cole Caufield, Nick Suzuki, and their teammates. Dobson is poised to be a key contributor to any future Canadiens success. Bringing in Dobson also allowed Hughes to trade Logan Mailloux – whose opportunity in Montreal was potentially diminished – to St. Louis in exchange for Zachary Bolduc, a solid 22-year-old depth scorer.
Hughes even added Kaapo Kahkonen to provide competition in goal. The Canadiens appear to have made all the right strategic moves to ensure their participation in the 2025 playoffs is not a one-time event.
B GRADES
New York Islanders
Key players added: D Matthew Schaefer, F Jonathan Drouin, F Emil Heineman
Key players lost: D Noah Dobson
Remaining cap space: $3,936,667
Overall grade: B+
Things are progressing for the Islanders under new leadership. Mathieu Darche, the new General Manager, used the No. 1 pick in the draft to select Matthew Schaefer, providing the Islanders with a premier defensive prospect – something the organization has lacked for a significant period. While losing Noah Dobson was a blow, the return from that trade – two first-round draft picks used on Swedish forward Viktor Eklund and defenseman Kashawn Aitcheson, plus forward Emil Heineman – allowed Darche to bolster the team`s prospect pool at the draft and position New York for both immediate and future success.
He also addressed roster needs by signing veteran forward Jonathan Drouin and extending contracts for Adam Boqvist and Simon Holmstrom. The Islanders have long needed to redefine their identity. Based on Darche`s initial actions – and likely future moves – it genuinely feels like New York is beginning a truly fresh start.
Philadelphia Flyers
Key players added: G Dan Vladar, F Christian Dvorak, F Trevor Zegras
Key players lost: F Ryan Poehling
Remaining cap space: $5,520,238
Overall grade: B+
The central move of Philadelphia`s offseason was the trade acquisition of Trevor Zegras from Anaheim, with the hope that he can develop into a top center for the team. If this potential is realized, GM Danny Briere will have executed a successful move by tapping into a player who perhaps hasn`t yet showcased his full capabilities, and the Flyers didn`t have to give up a significant package in return.
Briere`s other key accomplishment was securing a five-year extension for Cam York, a deal considered fair at a $5.15 million average annual value.
Briere`s work at the draft, including selecting Porter Martone at No. 6 overall, is also noteworthy for how it continues to build the Flyers for long-term success.
In the short term, Zegras and veteran Christian Dvorak will aim to improve the Flyers` offensive output, while Dan Vladar will provide potential competition in goal. Consequently, Philadelphia may be moving past its rebuilding phase towards becoming a more competitive team.
San Jose Sharks
Key players added: F Adam Gaudette, D Dmitry Orlov, D John Klingberg, F Philipp Kurashev, F Michael Misa, G Alex Nedeljkovic
Key players lost: D Marc-Edouard Vlasic
Remaining cap space: $23,890,832
Overall grade: B+
Sharks GM Mike Grier`s stated intention was to focus on the present within a rebuild that appears to be one of the NHL`s most promising. To support this, he brought in veterans who can mentor the team`s young players and help establish a positive culture, while also potentially serving as trade assets closer to the deadline over the next couple of years.
The Sharks added Michael Misa, the No. 2 pick in the draft, to a core group that already includes Yaroslav Askarov, Macklin Celebrini, William Eklund, and Will Smith. They also signed Adam Gaudette, John Klingberg, Philipp Kurashev, Alex Nedeljkovic, and Dmitry Orlov, additions expected to improve areas where the team struggled, resulting in the league`s worst record. Three of these players signed one-year deals, and Gaudette`s contract is for two years at $2 million annually. If the Sharks are not in playoff contention by the trade deadline, these players could be moved for additional draft capital.
Furthermore, the Sharks currently have eight defensemen on their roster, which suggests the possibility of trading one before the season begins.
Boston Bruins
Key players added: F Viktor Arvidsson, F Tanner Jeannot, F Sean Kuraly, F Michael Eyssimont
Key players lost: None
Remaining cap space: $2,081,667
Overall grade: B
Boston acquired several forwards through free agency and one trade (Viktor Arvidsson, which cost the Bruins a 2027 fifth-round pick). However, Boston did not address their most significant need: a legitimate top-six winger. Instead, GM Don Sweeney reinforced the Bruins` bottom six with multiple players, some of whom will likely need to play higher in the lineup out of necessity anyway.
The most surprising decision by Sweeney was signing Tanner Jeannot to a five-year, $17 million contract. This represents a considerable commitment to a player who is, at best, a third-line forward, carrying a $3.4 million average annual value until he is 33 years old. While he brings physicality and intensity, the Bruins desperately need offensive scoring help (only two players on their roster exceeded 20 goals last season), and it`s unclear if Sweeney has successfully addressed this issue so far.
Detroit Red Wings
Key players added: G John Gibson, F Mason Appleton
Key players lost: G Petr Mrazek
Remaining cap space: $12,086,628
Overall grade: B
Credit goes to GM Steve Yzerman for finally finding a new team for John Gibson. This trade, completed before the free agency period, seemed long overdue and not only gives Gibson a fresh start but also improves Detroit`s goaltending situation – a clear priority entering the offseason.
However, Yzerman appeared largely content for this to be the main change to the Red Wings` roster. While he added some bottom-six wingers in Mason Appleton and James van Riemsdyk and a third-pairing defensive option in Jacob Bernard-Docker, Detroit is otherwise set to begin the season largely unchanged from how they finished the last one.
Depth is certainly beneficial, but the Red Wings required a more significant addition to strengthen their defense and would have benefited from improved top-six scoring potential. These areas may still need attention before the season begins.
New Jersey Devils
Key players added: F Connor Brown, F Evgenii Dadonov
Key players lost: D Brian Dumoulin, F Erik Haula, F Curtis Lazar
Remaining cap space: $6,906,667
Overall grade: B
The New Jersey Devils weren`t looking to completely rebuild their roster, but GM Tom Fitzgerald has made prudent moves to add supplementary strength to the team.
Connor Brown is an excellent depth forward, bringing experience and leadership potential. Evgenii Dadonov could provide similar value. Both players should easily secure roles in the bottom six forward group.
New Jersey also re-signed some of its own players who were slated for unrestricted free agency, keeping Jake Allen with a five-year contract (a valuable move given the scarcity of available goalies for other teams) and signing trade deadline acquisition Cody Glass to a two-year extension.
These are all positive steps. However, Fitzgerald`s stated priority – and something yet to be completed – is signing restricted free agent Luke Hughes to a long-term contract. Fitzgerald acknowledged that the Devils might pursue further moves this summer, such as improving the top six, but this depends on finalizing the financial terms of Hughes` extension. So, anticipation remains high.
New York Rangers
Key players added: D Vladislav Gavrikov, D Scott Morrow, F Taylor Raddysh
Key players lost: D K`Andre Miller
Remaining cap space: $777,976
Overall grade: B
The New York Rangers were aggressive from the outset, pursuing Vladislav Gavrikov, one of the top defensemen available on the free agent market. GM Chris Drury secured Gavrikov with a seven-year contract valued at $49 million. This signing subsequently impacted Drury`s ability to retain K`Andre Miller, a restricted free agent, leading to Miller`s trade to Carolina for draft picks and prospect Scott Morrow.
The long-term consequences of this transaction for both teams remain to be seen. However, at the time, it was the necessary step for Drury to bring Gavrikov into the team. It was a calculated risk.
Drury`s other moves were more understated, involving signing breakout player Will Cuylle to an extension and adding bottom-six forward Taylor Raddysh. The Rangers` offseason will ultimately be judged by Gavrikov`s performance and how well he integrates into their defensive unit.
Vegas Golden Knights
Key players added: D Jeremy Lauzon, F Mitch Marner, F Colton Sissons
Key players lost: D Nicolas Hague, F Tanner Pearson, F Nicolas Roy
Remaining cap space: None (projected $7,638,571 over)
Overall grade: B
Vegas demonstrated strategic planning by re-signing Brandon Saad and Reilly Smith to one-year contracts, ensuring depth among their middle-six forwards. Trading Nicolas Hague allowed them to acquire additional forward depth in Colton Sissons and another NHL defenseman in Jeremy Lauzon.
Then came the summer`s most significant transaction: packaging Nicolas Roy in the sign-and-trade deal for Mitch Marner. This brought one of the NHL`s premier stars to a team that remains a top contender in the Western Conference. As they often do, Kelly McCrimmon and the Knights` front office found a way to execute a blockbuster move.
The recent announcement that Alex Pietrangelo will miss next season – and possibly face an uncertain future – while recovering from femur reconstruction surgery raises questions about how Vegas will address the void left by their top defenseman.
Calgary Flames
Key players added: None
Key players lost: G Dan Vladar
Remaining cap space: $15,412,500
Overall grade: B-
Flames GM Craig Conroy stated that once the free agents his team was targeting were signed elsewhere, there was no reason to deviate from their original strategy of relying on the team`s young players. Conroy emphasized his desire to continue providing opportunities for the Flames` youth, hoping they would see the lack of significant activity on July 1st as motivation to work even harder during the summer and earn a roster spot.
Evidently, there is a belief within the organization that the team`s homegrown talent can make enough progress to propel the Flames from narrowly missing the playoffs in 2025 to qualifying in 2026.
This is a sensible approach, not only for the message it sends to their young players but also because it preserves cap space, allowing them to spend on re-signing restricted free agents like forward Connor Zary and Morgan Frost, who later signed a two-year extension worth $4.38 million annually.
Edmonton Oilers
Key players added: F Curtis Lazar, F Andrew Mangiapane
Key players lost: F Viktor Arvidsson, F Connor Brown, D John Klingberg, F Evander Kane, F Corey Perry
Remaining cap space: $175,834
Overall grade: B-
New contracts for Evan Bouchard and Trent Frederic played a significant role in another challenging offseason for the Edmonton Oilers.
Similar to other teams operating within championship contention windows, the Oilers` objective was strategic maximization of their salary cap space. For example, GM Stan Bowman`s decision to trade Evander Kane ($5.125 million cap hit) was followed by signing Andrew Mangiapane and Curtis Lazar (totaling $4.375 million combined), effectively stretching their available funds.
Another strategy the team can employ to manage salary concerns is to entrust young players like Matt Savoie with larger roles and evaluate whether David Tomasek, the 29-year-old Czech forward signed in April, can earn a roster spot out of training camp.
Los Angeles Kings
Key players added: F Joel Armia, D Cody Ceci, D Brian Dumoulin, G Anton Forsberg, D Nick Leddy, F Corey Perry
Key players lost: D Vladislav Gavrikov, F Tanner Jeannot, G David Rittich, D Jordan Spence
Remaining cap space: $6,768,333
Overall grade: B-
Was it the most efficient use of salary cap space to sign two free agent defensemen when an additional $1.5 million per year might have prevented Vladislav Gavrikov from signing with the Rangers instead? This is just one of the questions facing Kings GM Ken Holland after his first offseason leading the team. Holland utilized the Kings` cap space to essentially buy in bulk, adding five players to reinforce the bottom-six forward group, defensive depth, and the backup goaltending position.
Whether these moves are sufficient to propel the Kings beyond the first round of the playoffs remains uncertain at this point.
Minnesota Wild
Key players added: F Nico Sturm, F Vladimir Tarasenko
Key players lost: F Frederick Gaudreau
Remaining cap space: $10,186,835
Overall grade: B-
Trading Frederick Gaudreau provided the Wild with cap flexibility that allowed them to acquire Vladimir Tarasenko via trade. Tarasenko gives the team a potential top-six forward in a market where most potential options remained with their current teams.
Bringing back Nico Sturm, a two-time Stanley Cup champion, after a three-year absence adds further depth to the bottom six and serves as a potential replacement for Gaudreau`s role.
However, other roster needs still require attention. A new contract for restricted free agent Marco Rossi is pending, and decisions must be made on how to best utilize the remaining cap space: should they bring in veterans to fill lineup gaps, or save the space for later by relying on prospects from one of the NHL`s strongest farm systems?
Nashville Predators
Key players added: D Nicolas Hague, F Eric Haula, D Nick Perbix
Key players lost: F Colton Sissons, D Jeremy Lauzon
Remaining cap space: $10,116,039
Overall grade: B-
The Predators` poor performance at the end of the 2024-25 season highlighted the need to address roster deficiencies this summer, with a focus on acquiring experienced players. This process began with securing Eric Haula, an experienced top-nine, two-way winger who has scored 20 goals eight times and can also be a reliable presence on the penalty kill unit.
GM Barry Trotz also added two defensemen in Nicolas Hague and Nick Perbix. Both players have experience logging minutes in a top-four role as fill-in options. The question remains whether they can be consistently entrusted with those types of roles on a more permanent basis in Nashville.
Seattle Kraken
Key players added: F Frederick Gaudreau, D Ryan Lindgren, F Mason Marchment
Key players lost: F Andre Burakovsky, Michael Eyssimont
Remaining cap space: $10,757,621
Overall grade: B-
New GM Jason Botterill leveraged the Kraken`s available cap space in ways that many other teams could not, which was crucial during his first offseason in the role.
His strategy began with trading Andre Burakovsky and his $5.5 million cap hit to the Blackhawks. Following that, he capitalized on the Stars` cap challenges to acquire Mason Marchment, another winger who has posted back-to-back 22-goal seasons. He then added Frederick Gaudreau, a reliable two-way, bottom-six center, from the Wild.
The Kraken still needed sufficient cap space to sign Ryan Lindgren in free agency and re-sign restricted free agent Tye Kartye, while Ryker Evans and Kaapo Kakko are also awaiting new contracts.
Tampa Bay Lightning
Key players added: F Pontus Holmberg, F Jakob Pelletier
Key players lost: D Nick Perbix
Remaining cap space: $1,180,001
Overall grade: B-
Tampa Bay has taken a conservative approach to offseason signings, which is understandable given the Lightning`s limited cap space and lack of glaring roster deficiencies. GM Julien BriseBois signed Yanni Gourde and Gage Goncalves to contract extensions to protect scoring depth, and then added Pontus Holmberg and Jakob Pelletier to further support that area. Pelletier, in particular, is expected to provide valuable depth for the team`s core group and will likely play a role in the bottom six.
What BriseBois did not manage to do was either retain free agent Nick Perbix or sign someone to replace him on the blue line. The Lightning appear somewhat thin on defense, which could become an issue if BriseBois does not have further moves planned before training camp. As of now, Tampa Bay does not appear significantly weaker – or stronger – than they were at the end of last season.
Vancouver Canucks
Key players added: F Evander Kane
Key players lost: D Noah Juulsen, F Pius Suter
Remaining cap space: $556,667
Overall grade: B-
Could that be a sense of optimism emanating from Vancouver? The Canucks successfully re-signed Brock Boeser, one of the most sought-after free agents this summer, and also signed goaltender Thatcher Demko and forward Conor Garland to contract extensions.
Naturally, many have questioned whether the $5.125 million average annual value committed to top-six winger Evander Kane, acquired via trade, might have been better allocated to address the team`s situation at center. This is particularly relevant given questions about who will replace Pius Suter in the bottom six and whether the team can create sufficient cap space to find a solution for this need before or during training camp.
Winnipeg Jets
Key players added: F Gustav Nyquist, F Tanner Pearson, F Jonathan Toews
Key players lost: F Mason Appleton, F Nikolaj Ehlers, F Brandon Tanev
Remaining cap space: $19,898,810
Overall grade: B-
Knowing they were likely to lose Nikolaj Ehlers prompted discussions about how the Jets would fill the offensive void created by his departure. Signing Gustav Nyquist to a one-year contract was done with the belief that he can help the Jets maintain the offensive balance they demonstrated last season, when 12 players reached double-digit goal totals. Tanner Pearson, who has exceeded 10 goals in nine different seasons, could also contribute in this regard.
The same potential contribution exists for future Hall of Famer Jonathan Toews, with the caveat that he has not played since 2023 due to health issues.
Despite these additions, the Jets still possess over $18 million in cap space as they work towards a new contract with pending restricted free agent forward Gabriel Vilardi, who finished third on the team with 27 goals last season.
C GRADES
Ottawa Senators
Key players added: D Jordan Spence, F Lars Eller
Key players lost: D Travis Hamonic, F Adam Gaudette, G Anton Forsberg
Remaining cap space: $4,294,286
Overall grade: C+
Perhaps the most exciting move of Ottawa`s offseason was the one-year contract extension given to Claude Giroux. Retaining a key forward and respected leader was GM Steve Staois` priority, and that objective was achieved.
Staois also demonstrated the value he places on right-side defensive depth by acquiring Jordan Spence in a trade with the Kings, potentially an upgrade over Travis Hamonic. Additionally, Lars Eller, who scored 10 goals last season, has an opportunity to add some offensive punch to the Senators` fourth line.
These moves are satisfactory, but whether anything Staois has done will significantly impact Ottawa`s trajectory and enable them to keep pace in the highly competitive Atlantic Division remains to be seen.
The Senators` goaltending tandem also presents a question mark. With Anton Forsberg gone, 22-year-old Leevi Merilainen was signed to a one-year extension to be Linus Ullmark`s backup. Will this arrangement be sufficient? It`s possible that Staois has simply replaced one type of player with another, and this lack of significant change could potentially hinder Ottawa. Alternatively, the fresh energy following a season where the Senators did reach the playoffs might propel everyone to elevate their performance. Only time will tell.
Pittsburgh Penguins
Key players added: D Alexander Alexeyev, D Parker Wotherspoon, F Justin Brazeau, F Anthony Mantha
Key players lost: G Alex Nedeljkovic
Remaining cap space: $15,816,904
Overall grade: C+
This has been a rather… uninspiring offseason for the Pittsburgh Penguins thus far. However, perhaps this aligns with GM Kyle Dubas` overarching strategy. Pittsburgh finds itself in a precarious middle ground – not fully committing to a rebuild, nor entirely capable of going “all-in” for one final push (they`ve attempted the latter previously without success). In this context, Dubas` straightforward signings seem adequate.
Anthony Mantha and Justin Brazeau should provide solid depth for the Penguins` bottom six forward group, and Parker Wotherspoon and Alexander Alexeyev have an opportunity to earn minutes on the third defensive pairing. Trading Alex Nedeljkovic puts the spotlight on younger goaltenders like Joel Blomqvist. Yet, these moves also leave a lingering sense that Dubas might not be finished, hinting at potential trades – perhaps involving Erik Karlsson? – that could still materialize.
Toronto Maple Leafs
Key players added: F Matias Maccelli, F Michael Pezzetta, F Nicolas Roy
Key players lost: F Mitch Marner, F Max Pacioretty
Remaining cap space: $4,983,081
Overall grade: C+
There`s no way around it: the Maple Leafs are a weaker team without Mitch Marner. The positive aspect is that GM Brad Treliving managed to get some return for his departing free agent via a sign-and-trade with Vegas, acquiring depth forward Nicolas Roy. Treliving continued to add third and fourth-line forwards in Matias Maccelli and Michael Pezzetta.
Now, any of these three players could prove to be valuable contributors. However, they do not remotely replace what Toronto lost in Marner. What more could the team have done?
Ideally, Treliving should not have stopped making moves. Another scoring winger with the potential to play in the top six would be a significant addition, and the Leafs could also benefit from improvements on the blue line.
Securing extensions for John Tavares and Matthew Knies was undoubtedly important (and boosts the Leafs` grade here), but how Toronto navigates the loss of Marner will be a crucial factor in determining the outcome of next season.
Buffalo Sabres
Key players added: D Michael Kesselring, G Alex Lyon
Key players lost: F JJ Peterka
Remaining cap space: $13,640,319
Overall grade: C
Buffalo handled their own roster business adequately by signing key restricted free agents like Jack Quinn, Ryan McLeod, and Ryan Johnson to new contracts. The return of Michael Kesselring from Utah in the JJ Peterka trade also strengthens the Sabres` blue line depth on the right side, an area where the team needed assistance.
Beyond these moves, Buffalo has done little else to significantly improve their team heading into next season. There were no major transactions or even notable acquisitions on July 1st. Buffalo had cap space available but chose not to utilize it for significant additions. This lack of commitment to improvement is unlikely to satisfy fans – or frankly, ownership – especially as the Sabres potentially face a 15th consecutive season without making the playoffs.
There`s little left to say in defense of the Sabres if they are unwilling to invest in taking a chance – on any player – when they possess the financial resources to do so.
Chicago Blackhawks
Key players added: F Andre Burakovsky, F Sam Lafferty
Key players lost: None
Remaining cap space: $22,312,024
Overall grade: C
Some observers will argue that the Blackhawks should have been more active this offseason, while others will contend they didn`t need to make any significant moves. Those who believe the team could have done more will point to how they could have utilized their substantial cap space to acquire proven scorers to address the offensive challenges they faced last season, in addition to their ongoing defensive issues.
Conversely, those who hold the opposite view will emphasize that a crucial step for the Blackhawks` future development is evaluating the performance of their young core. This perspective highlights the fact that 15 players on their active roster are under 25 years old, and the team possesses one of the NHL`s most impressive young talent pipelines.
Colorado Avalanche
Key players added: D Brent Burns
Key players lost: F Charlie Coyle, F Jonathan Drouin, D Ryan Lindgren, F Miles Wood
Remaining cap space: $4,123,333
Overall grade: C
Every aspect of the decision to sign Brent Burns to a one-year contract reflects a larger dynamic at play. Teams like the Avalanche, who are in championship contention windows, face the recurring task of rebuilding or refreshing their bottom six forwards and/or third defensive pairing. Identifying and then signing suitable players at team-friendly costs remains the primary mission for Avalanche GM Chris MacFarland and his front office staff leading up to training camp.
Having slightly over $4 million in cap space provides flexibility that they will seek to maximize to enhance a roster that has been eliminated in the first two rounds since winning the Stanley Cup in 2022.
Dallas Stars
Key players added: F Radek Faksa
Key players lost: D Cody Ceci, F Evgenii Dadonov, F Mikael Granlund, F Mason Marchment
Remaining cap space: None (projected $1,794,916 over)
Overall grade: C
The strategic decisions made by Stars GM Jim Nill that previously paved the way for his team to reach three consecutive conference finals are now the reasons why the team faces significant constraints. Extensions for the Stars` core players consumed a considerable amount of cap space, which necessitated trading Mason Marchment to Seattle and allowing Cody Ceci, Evgenii Dadonov, and Mikael Granlund to sign elsewhere.
Their most notable move to date was signing Radek Faksa, who returns to the club that drafted him in 2012 after spending last season with the Blues. However, even this signing left the Stars needing to clear cap space to become compliant by opening night, and positioned them where they might need to make further additions if deemed necessary.
Washington Capitals
Key players added: D Declan Chisholm
Key players lost: None
Remaining cap space: $4,125,000
Overall grade: C-
It`s not accurate to say Washington didn`t attempt to address their needs. GM Chris Patrick was reportedly involved in the pursuit of Nikolaj Ehlers until Ehlers ultimately chose Carolina over the Capitals, despite Washington topping the Eastern Conference standings last season. Following this, the most significant move Patrick could make was re-signing Anthony Beauvillier, a competent player but not one who brings the top-six skill set Ehlers possesses. However, that is simply how the free agency process unfolds.
The Capitals added defensive depth with Declan Chisholm, but other than that, they haven`t made significant roster adjustments to suggest they will be a more challenging team to play against next season. Patrick still has time to make corrections through trades and will need to remain actively engaged during the remainder of the summer.
D GRADES
Columbus Blue Jackets
Key players added: F Charlie Coyle, F Miles Wood
Key players lost: F Justin Danforth, F Sean Kuraly
Remaining cap space: $16,342,501
Overall grade: D+
Columbus entered free agency with a decent list of potential targets. However, the Blue Jackets ultimately did not execute an extensive number of transactions.
Instead of acquiring a winger to improve their top six or a right-shot defenseman to strengthen their top-four group, GM Don Waddell opted to significantly overpay defenseman Ivan Provorov, who was a pending free agent, with a seven-year contract worth $59.5 million. This was not an ideal outcome.
The forwards Waddell did bring in from other teams – specifically Charlie Coyle and Miles Wood – will serve to replace the bottom-six players who left Columbus in free agency, including Justin Danforth and Sean Kuraly. Consequently, these moves do not represent an improvement to the Blue Jackets` prospects for the upcoming season.
Unless Waddell makes significant moves this summer to actively make the team better than it was, the upcoming season is likely to feel like more of the same for Columbus, who narrowly missed a playoff spot last season.
Gareth Tenby 
Duncan Priestley