Assessing The Best Free Agent Signings From Summer 2025
As we move into the final month of the season, it has become quite clear which moves from last summer paid off and which ones did not. While long-term effects of summer trades and signings are always part of the picture, it’s interesting to look back and assess the best free-agent signings to see which teams got value for their money and which did not.
Players don’t always succeed immediately with their new teams; sometimes there’s a settling-in period. However, many moves made last summer in free agency have significantly impacted playoff races this year.
For this exercise, we will focus specifically on players who were unrestricted free agents and moved to new teams. This excludes players like Brad Marchand or John Tavares, who re-signed with their respective teams before July 1.
The first player that comes to mind is the Penguins’ top goal scorer, Anthony Mantha, who signed a one-year, $2.5MM contract (plus $2MM in performance bonuses) with the Penguins after missing most of last season with the Flames due to an ACL tear. Many believed that Mantha would have a chance to improve his free-agent stock in Pittsburgh by playing top-six minutes before cashing in during the summer of 2026.
Last summer, the Penguins seemed like a team that would be selling at the trade deadline, so it made sense that they would give Mantha a one-year deal and then trade him for future assets in February or March. However, that outlook couldn’t have been further from the truth, as Mantha has become a key part of a Pittsburgh team that has surprised the NHL this season and remains competitive in the Eastern Conference. With 30 goals and 28 assists in 75 games, Mantha has provided considerable surplus value to the Penguins and is likely to secure a major contract this summer, particularly among one of the thinnest free-agent fields in the salary cap era.
Last year, much of the talk during free agency was that the goaltending market was incredibly thin, and on paper, it certainly looked that way. But that didn’t stop the Buffalo Sabres from exploring the free agency waters, signing Alex Lyon to a two-year, $3MM contract that has proven to be an absolute steal.
Lyon has split duties with his goalie partner, Ukko-Pekka Luukkonen and has appeared in 35 games this season, posting a record of 20-9-4 with a 2.69 GAA and a .909 SV%. While those stats are solid, the standout figure in Lyon’s line is his goals saved above expected, which currently sits at 14.8 (according to MoneyPuck). Lyon won’t be winning any awards this year, but considering how much money teams are spending on ineffective goaltending, Lyon has been a real boon for Buffalo.
Sticking with the goalies, another underrated signing that has paid off is Daniel Vladař of the Philadelphia Flyers. The 28-year-old was mainly a backup before this season but has become the Flyers’ starting goaltender, dressing in 45 games while posting a 24-13-7 record, a 2.50 GAA, and a .904 SV%.
Vladař has been excellent value on a two-year deal with a $3.35MM AAV. Not only is Vladař’s save percentage above average, but his goals saved above expected is up to 9.6, suggesting that his underlying numbers indicate a goaltender who has stolen some games for Philadelphia.
A signing that didn’t happen until the fall was forward Jack Roslovic, who again had to accept an under-market one-year deal. Roslovic signed a one-year, $1.5MM contract with the Oilers on Oct. 8 after his second straight unsuccessful free agency run, where he failed to secure a multi-year deal that suited him.
In Edmonton, the 29-year-old has already achieved his second straight 20-goal season and has been a reliable playmaker for the Oilers. Given his consistent production over the past two seasons, it’s unlikely he’s willing to settle for another one-year deal, especially in a tight free agent market.
Moving to the backend, veteran Brent Burns was a free agent for the first time in his career at age 40. Burns signed a one-year deal with the Avalanche that included a potential $4MM in bonuses, of which he will likely earn $3MM this season.
Burns is no longer an elite offensive defenseman, but he has still scored 10 goals and 19 assists in 73 games this year while playing in every game and averaging almost 19 minutes per game. Burns has benefited from playing on a top team and from a high PDO, but for a veteran right-shot defenseman or a bargain one-year deal, he’s worked out as well as the Avs could have hoped for.
Finally, we return to the Penguins and the skillful work of general manager Kyle Dubas accomplished in the early days of free agency last year. Not only did Dubas sign 30-goal scorer Mantha, but he also secured Justin Brazeau with a two-year deal worth just $3MM, as well as defenseman Parker Wotherspoon on a two-year, $2MM deal. The contracts gave Dubas a top-nine forward in Brazeau and a top-pairing defenseman to play alongside Erik Karlsson, all at a total cost of $2.5MM per season for this year and the next.
Dubas and Penguins Director of Player Personnel Wes Clark did excellent work last summer, finding players with lots of potential who hadn’t been given the chance to succeed. By betting on low-risk, high-upside free agents, Dubas effectively accelerated the Penguins’ retooling plans, which seemed unlikely just a year ago, when the team had missed the playoffs for a third consecutive year.
Earlier this season, there was talk that Penguins captain Sidney Crosby should request a trade because he might not make the playoffs again. However, thanks to Dubas’s bargain shopping, the Penguins now seem to be on track for the playoffs and have plenty of cap space this summer to strengthen their already impressive lineup.
Snapshots: Ducks, Smith, Tracy
Shortly ahead of tonight’s game at San Jose, the Anaheim Ducks revealed that Radko Gudas and Pavel Mintyukov wouldn’t play due to lower body injuries.
For Gudas, it more or less confirms the suspicion that the 35-year-old laced them up not yet healthy in order to answer the bell against the Maple Leafs. It’s a commendable act from the Ducks’ captain, especially as Gudas didn’t throw a punch in his scrap with Max Domi, stemming from the controversial hit which ended Auston Matthews’ season. Nonetheless, the Czech stay-at-home man will look to get healthy in time for the playoffs.
Another defenseman, Mintyukov has dealt with his own lower body issue, keeping him out of the lineup for the second time in the last three games. The 22-year-old has developed nicely in Anaheim, averaging 18:26 a contest and needing just one more game to make a career high 69 appearances in a season. Mintyukov still has untapped offensive upside, offering 20 points so far in 2025-26.
Neither Gudas or Mintyukov figure to have serious issues, but in the meantime, Ian Moore and Drew Helleson have stepped in.
Elsewhere across the league:
- Los Angeles will weigh their coaching options this summer, as insider David Pagnotta suspected that interim head coach D.J. Smith won’t be back, on Monday’s edition of Oilersnation Everyday. After firing Jim Hiller on March 1, Smith’s efforts to provide a spark have proved often ineffective, with a 5-5-4 record. The former Senators head man has a .465 career win percentage, not winning more than 39 games in a season. This summer will bring major change to the Kings with icon Anže Kopitar set to hang up his skates, but still offering a strong core in win-now mode, Los Angeles will seek a long-term solution behind the bench. Smith, 48, came to the Kings as an assistant in February 2024. If it’s indeed the beginning of the end of his tenure, it’s safe to assume another NHL club will come calling with a similiar job offer.
- The Henderson Silver Knights, aptly named affiliates of Vegas, inked goaltender Alexander Tracy to an AHL contract for 2026-27. The undrafted netminder enters the professional circuit after an impressive four year career at Minnesota State University – Mankato. A native of Chicago, Illinois, the 25-year-old got the bulk of starts for three of his four collegiate seasons. He put up an eye-popping .946 save percentage last season, followed by a .927% this year, winning over 20 games in each. Vegas has had three drafted goaltenders who have gotten significant playing time in the AHL, but behind Carl Lindbom, who has played well, neither Cameron Whitehead or Jesper Vikman have been able to stand out. Vikman was dealt to the Capitals organization as part of the Nic Dowd trade. As a result, the 5’11” Tracy will compete for a backup role in Henderson.
Injury Notes: Moore, Mangiapane, Hagel
Chicago Blackhawks head coach Jeff Blashill told reporters, including Scott Powers of The Athletic, that young forward Oliver Moore could make a late season return, but it’s also possible his season has ended. Needless to say, it’s uncertain at this time.
Moore suffered an undisclosed injury in early March, leaving against Dallas and not playing since. In the dreary closing games of the campaign for the 31st-ranked Hawks, bringing the explosive skater back into the lineup would bring some excitement. However, Chicago has no reason to rush their top prospect back.
The 21-year-old has recorded 19 points in 51 games this year, a successful first true NHL campaign. His 48% expected goals share is laudable for any young forward on a team less often in the win column. It’s a nice foundation to build off of in 2026-27.
Even if the 19th overall selection (2023) doesn’t eventually blossom into a true top six forward, he has the perfect skill set to be a force in the middle six. Such are the exact type of players Chicago needs to cap off their rebuild.
Elsewhere across the league:
- Also in the Windy City, Andrew Mangiapane is traveling with the team, noted by Powers. He won’t get to carry a chip on his shoulder to the ice in Edmonton, but could appear later in the road trip. Since coming over from the Oilers, Mangiapane has two points in seven games as he looks to rebuild his stock. His possession metrics have dipped even further as a Blackhawk, down to 43.6% corsi for at five-on-five, but that’s expected on the non-playoff team. If the 29-year-old is to restore his old high scoring ways, it’ll have to be by earning a larger role and getting power play time alongside Connor Bedard. So far Mangiapane is averaging 12:23 a night in Chicago, essentially the same as was in Edmonton.
- Tampa Bay’s Brandon Hagel is day-to-day and it’s unlikely he’ll appear tomorrow against Pittsburgh, per Diandra Loux of The Hockey News. The 27-year-old former sixth round selection continues to flourish with the Lightning, putting up 73 points in 69 games this season as the Bolts’ third leading scorer. It’ll be beneficial for the Penguins who are more in need of points than their opponents. Hagel should return far in time for the playoffs, as soon as Saturday against Boston. His club is currently fifth in the league, looking to end their three year first round exit streak.
Golden Knights Assign Braeden Bowman To AHL
The Vegas Golden Knights announced tonight that Braeden Bowman has been assigned to AHL Henderson.
Undrafted out of the OHL, Bowman caught on with Vegas and has become a solid depth forward at just 22 years old. A team always right against the cap, with injuries also a factor, the winger managed to get into 54 games at the NHL level where he’s come away with eight goals and 26 points on 14:08 a night. Offering a 49.6% corsi for at five on five, respectable for any unsung rookie, Bowman’s shifts were relatively protected by the now-fired head coach Bruce Cassidy, starting just under 60% in the offensive zone.
Either way, Bowman has lit it up in small AHL usage this season, 12 points in as many games, and he’ll be welcomed into 12th-ranked Henderson’s forward corps with open arms.
The trade deadline acquisitions of Nic Dowd and Cole Smith, both defensive specialists, effectively bumped Bowman out of the lineup who naturally was less trusted in such a role. He hadn’t played since March 21, also unable yet to make an impression in-game under new bench boss John Tortorella.
With seven regular season games left after a shocking late-season shift, Vegas will hope the bold move provides a spark, while Bowman will enjoy playing time in the AHL. The Golden Knights have several veterans with expiring contracts, the likes of Colton Sissons, Brandon Saad, Reilly Smith, as well as the other Smith mentioned above. As a result, Bowman will continue to be an appealing depth option in years to come, already putting together an impressive career for an undrafted player.
Canucks Recall Ty Mueller
Ahead of tonight’s game against Colorado, the Vancouver Canucks announced that prospect Ty Mueller has been recalled from AHL Abbotsford.
A fourth round selection by the team in 2023, the center has developed nicely in the AHL right from the jump out of the University of Nebraska-Omaha. Mueller debuted last year with 39 points in 64 games, serving as a key rookie on the way to Abbotsford’s 2025 Calder Cup title. The efforts got him into two games with the big club, where he didn’t record any points.
This season the Edmonton, Alberta native has continued to progress, sitting second in team scoring with 35 points in 59 games. Abbotsford has iced a younger forward corps this year, and ranking 30th in the AHL, they won’t be defending their championship this spring. With that in mind, the similarly bottom-feeding Vancouver has little to lose in giving the 23-year-old another look.
With a forecast projected to land somewhere in the bottom six level, Mueller is not among the Canucks’ highest end prospects, hovering more in the 5-10 range. Yet for a player chosen 105th overall, the lefty has made a strong case to crack Vancouver’s lineup starting next fall, particularly as they’ll turn the roster over to more young players. Mueller’s AHL production has already surpassed his expectations, and with a season far lost, Vancouver fans will hope to watch a successful audition as he continues to grow into a future NHLer. At 5’11”, he brings a very well rounded game.
Evidently, Max Sasson is expected to return to the lineup tonight in a whimsical battle between the NHL’s best and worst team. As a result Mueller is not expected to play, but the youngster will enjoy the call-up nonetheless, looking ahead to tomorrow’s action in Minnesota as a chance to appear in his third NHL game.
San Jose Sharks Activate Ty Dellandrea
The San Jose Sharks announced that they’ve activated forward Ty Dellandrea from the injured reserve. Without a corresponding roster move, the Sharks will have 25 players on the active roster, 16 of whom are forwards.
Dellandrea, 25, has missed nearly two full months of action. On January 6th, in a game against the Columbus Blue Jackets, Dellandrea collided with a goal post and subsequently tore his posterior cruciate ligament (PCL). Although he managed to avoid surgery, his extensive recovery process cost him 30 games of the regular season.
Before the injury, Dellandrea was having a relatively solid season. In 42 games this year, his second in San Jose, Dellandrea registered two goals and 11 points with a -15 rating, averaging 14:24 of ice time per game. Still, he remains looking to recapture his form from a few years ago, when he scored nine goals and 28 points in 82 games with the Dallas Stars while averaging a similar ATOI.
However, if he had remained healthy, Dellandrea would have gotten fairly close to those totals. Even as a third-line forward, the Sharks still view Dellandrea as a part of the near future, as they made him one of seven forwards on the team to be signed through the 2027-28 season.
It’ll be interesting to see how Dellandrea’s role on the Sharks changes throughout his upcoming contract. San Jose has a glut of young forwards knocking on the door, and cuts will have to be made to make room. Still, with many veteran forwards playing on one to two-year deals, Dellandrea’s spot on the roster should be safe for now.
Panthers Recall Tobias Bjornfot, Mikulas Hovorka
The Florida Panthers need more depth with two additional defensemen out with injury. According to George Richards of Florida Hockey Now, the Panthers have recalled Tobias Björnfot and Mikulas Hovorka from the AHL’s Charlotte Checkers. Florida later confirmed the transaction.
It’s expected that both defensemen will be in the lineup tomorrow against the Boston Bruins. In the same report, Richards shared that Aaron Ekblad, who is dealing with a hand injury after blocking a shot, and Dmitry Kulikov, who took a puck off the face, are both being held out.
That will leave Seth Jones and Gustav Forsling as the only two defensemen who played on opening night this season to be in Florida’s lineup tomorrow. That’s without factoring in the multiple injuries to the forward corps, as the Panthers are also expected to be without Aleksander Barkov, Brad Marchand, Jonah Gadjovich, Evan Rodrigues, Sam Reinhart, and Anton Lundell.
It’s been the overarching theme of the 2025-26 season for Florida. Injuries have prevented the Panthers from achieving any success this year and will also prevent the team from defending their back-to-back Stanley Cup championships.
At any rate, it allows a pair of defensemen who haven’t played much for the team this season. Björnfot, 24, has scored two goals and one assist in 11 games for the Panthers this season, averaging 11:33 of ice time per night. Meanwhile, Hovorka, 24, has only one game of NHL experience under his belt, skating for 11:27 against the Tampa Bay Lightning on February 5th.
Edmonton Oilers Sign William Nicholl
According to a team announcement, the Edmonton Oilers have signed forward William Nicholl to a three-year, entry-level contract beginning in the 2026-27 season. Nicholl will presumably finish the rest of the 2025-26 campaign with the AHL’s Bakersfield Condors.
The contract details for his entry-level contract are as follows, as provided by PuckPedia:
| Year | NHL Salary | Signing bonus | Potential performance bonuses | Minors salary |
| 2026-27 | $850K | $85K | NA | $85K |
| 2027-28 | $900K | $85K | NA | $85K |
| 2028-29 | $950K | $85K | NA | $85K |
Nicholl, 19, recently wrapped up his third season with the OHL’s London Knights. He did not start the season on time due to offseason surgery, which led him to finish with 15 goals and 26 points in 32 games, achieving a +10 rating.
Last season, in what would be his best performance in the OHL, Nicholl scored 21 goals and 57 points in 66 games with a +38 rating. He featured in the Knights’ postseason run last year, scoring one goal and totaling eight points in 17 games, which helped the team secure its third Memorial Cup championship in franchise history.
Still, there’s definitely an argument that Nicholl could use another year of seasoning at the OHL level. Edmonton selected Nicholl with the 196th overall pick of the 2024 NHL Draft, so he’s not necessarily a top prospect that needs to be rushed to the professional ranks.
Factoring in his recent injury history, it’s somewhat surprising that the Oilers don’t give him a year to dominate the junior level before turning professional next season. Even if they had waited a year, Nicholl would only have been 20 years old, with plenty of time to develop further.
Regardless, the top brass at Edmonton feels he is ready, which means he’ll have the opportunity to test his mettle through the last few weeks of the AHL season. Even if his offensive prowess isn’t quite ready, his stature certainly is. Nicholl stands at 6’0″, 183 lbs, and has never been shy to engage in physicality while in London.
Flyers Sign David Jiricek To Two-Year Extension
5:15 p.m.: The team over at PuckPedia revealed the financial details of Jiricek’s new two-year extension:
| Year | NHL Salary | Signing bonus | Potential performance bonuses | Minors salary |
| 2026-27 | $850K | $450K | NA | $1.3MM |
| 2027-28 | $1.7MM | NA | NA | $1.7MM |
3:43 p.m.: The Philadelphia Flyers will keep a Trade Deadline addition around for a few years longer. Defenseman David Jiricek has signed a two-year, $3MM extension with the club per his agent, Allan Walsh. Philadelphia has confirmed the extension. The deal will carry a $1.5MM annual-average-value. Philadelphia acquired Jiricek in exchange for winger Bobby Brink in early-March.
Jiricek hasn’t yet made his debut in the Flyers lineup, instead spending 10 games with the AHL’s Lehigh Valley Phantoms. He has two goals and 10 points in those appearances, matching his scoring in 24 games with the Iowa Wild to start the season. He also appeared in 25 games with the Minnesota Wild this season but managed no scoring, 14 penalty minutes, and an even plus-minus.
Jiricek’s young career has been a story of expectations versus reality. He was a popular draft prospect in 2022, hype that culminated in the 6-foot-4 defender being selected sixth-overall by the Columbus Blue Jackets. He joined the Blue Jackets’ ranks in the following season, beginning the year with the AHL’s Cleveland Monsters but receiving routine call-ups throughout the season. In total, Jiricek scored 38 points in 55 AHL games, and no points in four NHL games, in his first pro season in North America. That production, supported by seven points in seven games at the 2023 World Junior Championship, seemed to set Jiricek up for a breakout year in 2023-24.
Instead, the defender ran into a struggle to produce at the major or minor levels. He scored just 10 points in 43 NHL games, and 19 points in 29 AHL games, in his second season. He also had a negative plus-minus in both leagues. Quickly, the hype from Jiricek’s draft year seemed to be dwindling, as the puck-mover struggled to branch his game out against top-level competition.
As those struggles continued into his third season, Columbus made the decision to trade Jiricek to the Minnesota Wild in November 2024 in exchange for Daemon Hunt and one pick in each of the top-four rounds. Wild general manager Bill Guerin called the deal a “no-brainer” at the time and Jiricek was quickly pipelined into the NHL rotation. A move didn’t spark his scoring, though, and Jiricek was quickly assigned to the minor leagues. The struggling year hit a peak when his season was ended by a lacerated spleen in late-March.
Jiricek made a quiet return this season – but seems to finally be catching sparks in the Flyers organization. He has filled meaningful minutes in the minor leagues and could be primed for bigger minutes with a new extension under his belt. It is a one-way deal, which could ensure a trial run in the Philadelphia lineup next season, at the very least. With the Flyers, Jiricek will have a chance to learn from similar puck-movers like Rasmus Ristolainen and Jamie Drysdale. He’ll hope that mentorship can help him stick when he inevitably tries for a role with his third NHL club.
Flames’ Ethan Wyttenbach To Stay In NCAA For Sophomore Season
Calgary Flames fans will have to wait a little while longer to see a breakout prospect take pro ice. Winger Ethan Wyttenbach has announced he will return to Quinnipiac University for his sophomore season after leading the country in scoring as a freshman. It was a breakout performance for the 2025 fifth-round pick that culminated in a top-10 finish in Hobey Baker Award voting, awarded annually to the NCAA’s MVP.
Wyttenbach became only the fifth freshman to lead college hockey in scoring since 2000. He joins an exclusive list of NHL stars, including Jack Eichel, Kyle Connor, Adam Fantilli, and Will Smith. In each instance, the breakout performance was followed by an immediate pro contract. Wyttenbach will break that mold by returning for a second season.
The Quinnnipiac Bobcats led college hockey in scoring this season but fell well shy of an ECAC conference championship. They haven’t acheived that feat since 2016, despite winning the NCAA National championship in 2023. That is another course they were knocked off of this season, losing to the University of North Dakota in the first round this season.
Wyttenbach’s return will help the Cougars attempt to right both wrongs. He was a main play-driver all year long, playing well off of fellow freshmen Antonin Verreault and Markus Vidicek. Their support helped Wyttenbach reach a staggering 58 points in 40 games on the year. It also, more importantly, allowed Boston Bruins prospect Christopher Pelosi to remain in a second-line role, giving Quinnipiac a top-six that was hard to beat. Verreault and Vidicek are both expected to return to Quinnipiac next season, as is top defender and Bruins prospect Elliott Groenewold.
Those returnees will keep Quinnipiac’s lineup formidable into the 2026-27 season. Wyttenbach will undoubtedly continue on as the team’s top forward. He faces a tough challenge repeating his historic freshman season but managing the feat could go far in cementing his spot as one of Calgary’s top prospects. Wyttenbach is only two seasons removed from playing youth, AAA hockey in New England. Before moving to college, he scored 51 points in 44 games with the USHL’s Sioux Falls Stampede.