The Vegas Golden Knights hoisted the Stanley Cup on June 14, 2023, officially ending the 2022-23 NHL season. Although teams that did not qualify for the playoffs or advance to the Stanley Cup Final could get a head start on their offseason plans, most were busy preparing for the draft and NHL free agency.Â
Leading up to the NHL Awards and Entry Draft in Nashville during the last week of June, several players secured new deals allowing teams to understand their finances better when free agency started on July 1. Since the clock struck noon on Canada Day, NHL teams opened their checkbooks and handed out 324 new contracts to players that take effect immediately.
Related: 2023-’24 NHL schedule
Of course, several players also signed extensions that kick in for the 2024-25 season, meaning their salaries don’t count on the books this summer, but take effect on July 1, 2024. Statistically, since June 15, there have been 382 new contracts worth a whopping $564,582,084.
Since so many people are fascinated with the NHL salary cap and visit the website CapFriendly daily for the latest updates, we decided to shift through the numbers and highlight the five most interesting statistics regarding NHL free agency in 2023.
Only two players cashed in, with salaries worth over $10 million
At the end of the 2022-23 season, only 15 players had a cap hit over $10 million, with Golden Knights’ Jack Eichel becoming the only player in NHL history to win the Stanley Cup with an eight-figure cap hit. Of course, a player’s cap hit and salary are two different figures, highlighted by 37 players who previously had a salary over $10 million, with several Stanley Cup champions among them.
However, once free agency started, the group expanded by two players when the New Jersey Devils awarded new contracts to Timo Meier ($12 million) and Jesper Bratt ($10 million). Ultimately, the pair cashed in for dual eight-year deals, with Meier earning $70.4 million and Bratt collecting $63 million. Moreover, the two only carry cap hits of $8.8 million (Meier) and $7.8 million (Bratt), equaling $16.6 million against the $83.5 million upper limit or 19% of the team’s budget.
Defensemen dominate FA signings, forwards rule the financial landscape
NHL teams handed out 116 contracts to defensemen, with Vince Dunn of the Seattle Kraken cashing in July 21 with a four-year deal worth $29.4 million, earning an annual salary of $9 million. Interestingly, the only other defenseman with a higher cap hit is Dmitry Orlov of the Carolina Hurricanes, who signed a two-year deal worth $15.5 million or $7.7 million a year. Statistically, NHL blueliners who signed new agreements made $158,796,334 in salary, with the average contract valued at $1,417,284.Â
Related: Best trade partners for Erik Karlsson
Meanwhile, 218 forwards (wingers and centers) signed new deals valued at $330,595,750, carrying an average contract value of $1,516,494. As previously mentioned, Meier and Bratt inked the largest deals so far in free agency. However, 12 forwards have new contracts valued over $5 million, with 49 players making over $2 million this year. Considering the average salary of an NHL player is $3,196,767, 199 players inked new deals below the average salary figure.
The average age of NHL free agents in 2023 is 26.43 years old
A handful of forwards play multiple positions, so it is difficult to break down their numbers solely by position. However, we did our best to examine the average age of each free agent based on where they play in the lineup.
| Center | Left Wing | Right Wing | Defense | Goalie | |
| Average Age | 26.06 | 25.81 | 26.72 | 26.49 | 27.08 |
| Deals | 83 | 75 | 60 | 116 | 48 |
| Salary | $107 mil. | $118 mil. | $76 mil. | $155 mil. | $64 mil. |
As the numbers indicate, goalies tend to mature later and sign new contracts closer to the average age of a player hitting their primes. Even though these forwards are collectively the youngest at 26.19, many skaters are considered NHL veterans. However, because most of their numbers are represented by rookies and their entry-level deals, the overall numbers make them appear to be the youngest group when that isn’t necessarily the case.
The Arizona Coyotes are the busiest team in NHL free agency
Despite finishing with the sixth worse record (28-40-14) in the NHL during the 2022-23 season, the Arizona Coyotes have been the busiest team in free agency thus far. Since the official end of the previous campaign on June 14, the Coyotes have signed 20 players to new deals valued at $27.7 million. Furthermore, the team’s most expensive acquisition is Jason Zucker, who signed a one-year pact on July 1 worth $5.3 million.
Statistically, the team has only signed six players to deals over $1 million, meaning that 14 players are only on six-figure contracts. Interestingly, their most significant signing wasn’t a free agent but their top draft pick from 2022, Logan Cooley. After opting not to sign an entry-level deal last year and skate at the University of Minnesota, the former third-overall pick finally signed on the dotted line for $13.3 million. As a rookie, his cap hit will only be $950k, and he can cash in when hitting performance bonuses.
The Columbus Blue Jackets are inactive in NHL free agency, throwing out the averages
As July ends, NHL franchises have had almost an entire month to acquire free agents, but only 23 teams have signed more than ten new deals. Ultimately, because of so many uncertainties and the salary cap only going up by $1 million, nine franchises have chosen to be less aggressive, including the Columbus Blue Jackets.
Interestingly, the Blue Jackets acquired one of last year’s most prominent names in free agency, Johnny Gaudreau. However, the team has been quiet in 2023, with just five deals valued at $4.3 million, with Mathieu Olivier signing the most significant deal at $1.1 million.
Although a handful of teams signed their own pending free agents before June 15, here’s the breakdown of the least active clubs since that day, including the Minnesota Wild and Chicago Blackhawks (seven signings), Edmonton Oilers and Anaheim Ducks (eight), Vancouver Canucks, Tampa Bay Lightning, New York Islanders, and Calgary Flames (nine).
All told, NHL teams have averaged 11 deals this summer in free agency, shelling out an average of $16.8 million, with the average contracts running close to $4.9 million.