NHL free agency began on July 1, and on that first day, roughly 99 new contracts were handed out, with over 173 deals in the past two weeks. Of course, some teams got stronger with their additions, while some other clubs, unfortunately, got the short end of the stick and have more questions than answers heading into the new season.
Surprisingly, a handful of high-profile free agents like Vladimir Tarasenko, Matt Dumba, and Patrick Kane remain unemployed as we hit the middle of July. Considering nine teams have payrolls over the allotted cap of $83.5 million, plenty of newsworthy moments are yet to come as everyone prepares for training camp in September.
However, until then, let’s dig into the transactions and see which franchises have had a good and bad summer.
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Winner – Carolina Hurricanes look to wreak havoc in Eastern Conference
The Carolina Hurricanes advanced to the Eastern Conference Final for the second time since 2019. However, since 2006, they have not won a game in the third round, currently riding a 12-game losing streak. As the second-best team in the conference last year, they signed the best available defenseman, Dmitry Orlov, while bringing in some grit with Brendan Lemieux.
Additionally, they re-signed their captain, Jordan Staal, while keeping their goalie tandem intact with Frederik Andersen and Antti Raantareturningk. Meanwhile, they might add Tarasenko and Erik Karlsson to their lineup, two premier players looking for new teams.
Loser – Toronto Maple Leafs are in profound financial trouble
Early, we mentioned that nine teams are currently over the salary cap, with the Toronto Maple Leafs the biggest culprit, exceeding the limit by $8.8 million. Although they lost many players like Ryan O’Reilly, Michael Bunting, Luke Schenn, Alex Kerfoot, Noel Acciari, and Erik Gustafsson, they replaced them with Ryan Reaves, Tyler Bertuzzi, and Max Domi. Furthermore, the team has yet to sign Ilya Samsonov, who should be their number one goalie, since the team doesn’t know what to do with Matt Murray.
Additionally, superstars Austin Matthews and William Nylander have one season left on their expiring contracts and could command top dollar on the free-agent market. Sadly, Toronto has caused itself a significant financial crisis and will not be able to keep the band together for much longer.
Related: 3 potential trade partners for San Jose Sharks’ Erik Karlsson
Winner – New Jersey Devils ready to prove last year was just the beginning
Since appearing in the Stanley Cup Final over a decade ago, the New Jersey Devils went through a long period of mediocrity, only to collect high draft picks while jumpstarting a rebuild. Now that players like Jack Hughes and Jesper Bratt are turning into All-Stars, the Devils surprised everyone last year by advancing to the second round while almost winning the Metropolitan Division.
Although they didn’t make big splashes in free agency, they did re-sign their big trade deadline acquisition Timo Meier to a monster deal while trading for 30-goal scorer Tyler Toffoli. Additionally, the team was able to lock down Bratt to a long-term extension, keeping one of their core members in the lineup.
Loser – Boston Bruins pay the price for going all in during historic season
Last year the Boston Bruins had the greatest statistical season in NHL history, collecting a record 65 wins. Of course, they will not repeat that same success in 2023-24, not because it isn’t possible, but the entire lineup will look different. After losing Orlov, Bertuzzi, and Garnet Hathaway to free agency, the team might not get captain Patrice Bergeron or forward David Krejčì back either.
Moreover, the club acquired a handful of players in their 30s at lower prices to fill in the gaps, with Milan Lucic, Kevin Shattenkirk, and James van Riemsdyk coming to town. Although much of the fanbase believes the team got slower this offseason, it is too early to predict how the Bruins will stack up against other teams in the Eastern Conference.
Winner – Chicago Blackhawks add vets to surround Connor Bedard
At first glance, many out there would not consider the Chicago Blackhawks winners, except at the draft lottery when the balls bounced their way, and they landed Connor Bedard. However, the team acquired former first-overall pick Taylor Hall from the Bruins and Nick Foligno, a veteran whose presence in the room earned him leadership roles in Columbus and Boston. Although Corey Perry is known to be a pest on the ice, he’s another veteran skater with a Stanley Cup title and several other appearances in the Final.
Together, these three will help Bedard adjust to life in the NHL and have his back when the times get rough. Ultimately, the Blackhawks are not contenders right now, but bringing in guys to help the team get better every day was a smart move by management.
Loser – New York Islanders make boatload of questionable decisions
The New York Islanders accomplished one of the smartest moves of free agency by locking up their young netminder Ilya Sorokin to an eight-year deal, meaning he’ll spend his best years on Long Island. However, after that, general manager Lou Lamoriello made many head-scratching moves.
First, he gave 30-year-old defenseman Scott Mayfield a seven-year extension, then re-signed 27-year-old Pierre Engvall to a seven-year deal. Collectively, these two players have combined for 203 points in 672 games.
Moreover, to cap off questionable moves, Lamoriello kept Semyon Varlamov by giving the 35-year-old a new four-year extension. Interestingly, the team is looking for another scoring forward, but with the money spent on these players, it will be curious how they make it work with just $387,500 left in cap space.
Winner – Detroit Red Wings pull off summer blockbuster
Although many in the hockey community wonder what’s going on with the Detroit Red Wings, especially after offering a large sum of money to J.T. Compher and Justin Holl, they silenced their critics by acquiring former 40-goal scorer Alex DeBrincat from the Ottawa Senators. Since taking over his former team, general manager Steve Yzerman is slowly building his club into a contender, not for a season or two, but for the long haul.
Considering the Red Wings already have Lucas Raymond, Dylan Larkin, and Mortiz Seider in the lineup, Yzerman keeps adding pieces to make the team even stronger. Ultimately, management felt former sixth-overall pick (2018) Filip Zadina would not be part of the solution, so the team cut ties with the youngster after just 190 games.
Related: Top NHL free agents 2023: Best 10 available with positional breakdowns
Loser – No one wants to join Calgary Flames and Winnipeg Jets
Outside of the harsh Canadian winters, the country hasn’t had a Stanley Cup winner in 30 years. Ultimately, the lack of success is a significant deterrent when those seven franchises try to make recruitment pitches to players. Despite a new general manager, head coach, and team president, the sky is falling in Calgary, where many of their star players have requested trades out of the city. Unfortunately, after a successful season in 2021-22, the team took a step back, and players like Elias Lindholm and Mikael Backlund are not interested in re-signing after their deals expire in 2023-24.
Meanwhile, in Winnipeg, the Jets cut ties with their longtime captain Blake Wheeler (who signed with the New York Rangers) and have yet to lock up their franchise netminder Connor Hellebuyck to an extension. Of course, with an expiring deal, the veteran goalie has been in the rumor mill for weeks as other teams look to take advantage of the situation.
Additionally, after orchestrating a trade with the Los Angeles Kings to send Pierre-Luc Dubois to California, they still need to re-sign Gabe Vilardi, a young player who returned in the deal. Despite having over $8 million in cap space, the Jets, much like the Flames, have yet to do anything to improve before opening night. Ultimately, they are banking on players already on the roster to have a better year next year.