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Salary Cap Deep Dive: Florida Panthers

December 24, 2025 at 9:00 pm CDT | by Brian La Rose 5 Comments

Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful.  Those who don’t often see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation for the 2025-26 season.  This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL.  All cap figures are courtesy of PuckPedia.  We’re currently covering the Atlantic Division, next up are the Panthers.

Florida Panthers

Current Cap Hit: $103,050,261 (above the $95.5MM Upper Limit)

Entry-Level Contracts

None who are on the active roster on a full-time basis.

Signed Through 2025-26, Non-Entry-Level

D Uvis Balinskis ($850K, UFA)
G Sergei Bobrovsky ($10MM, UFA)
F A.J. Greer ($850K, UFA)
F Noah Gregor ($775K, UFA)
F Luke Kunin ($775K, UFA)
F Tomas Nosek ($775K, UFA)
D Jeff Petry ($775K, UFA)
F Mackie Samoskevich ($775K, RFA)
D Donovan Sebrango ($775K, RFA)
F Cole Schwindt ($825K, UFA)
G Daniil Tarasov ($1.05MM, UFA)

Potential Bonuses
Petry: $250K

Greer has found a nice role in Florida, setting a career high offensively last season while more than doubling his career high in hits as well.  This season, he’s off to an even better start.  Given his role and Florida’s top-heavy salary structure though, they may not be able to afford to keep him if his price tag pushes towards the $1.5MM mark.  Schwindt was a waiver claim from Vegas last month but played sparingly (before being injured earlier this month) after being in and out of the lineup last season.  Unless his role changes considerably, he’s probably going to be capped at the league minimum on his next deal.  Realistically, the same can be said for any of Nosek, Kunin, and Gregor.

However, Samoskevich is a much different situation.  He accepted a one-way deal this past summer, taking less than his qualifying offer to get the guaranteed salary.  In doing so, he’s setting himself up to have salary arbitration rights next summer.  If he plays the middle-six role he currently has all season and beats his 31 points from a year ago, he should easily triple this price tag at a minimum; quadrupling it isn’t unrealistic if he has a big second half.

Balinskis performed well last season in his first full year on the third pairing and is being deployed similarly in the early going this year.  As is the case with Greer, he’d need to stay around the minimum to stay in Florida while his market value might be more in the $1.5MM range.

Petry had a tough year with Detroit last season which certainly hurt his market.  At 37, he’s best served as a third pairing or depth defender and this price tag reflects that.  He has four $50K bonuses tied to games played that are achievable if he stays healthy while the other $50K is dependent on a Stanley Cup victory.  There’s a good chance he stays near the minimum if he keeps playing beyond this season.  Sebrango was claimed off waivers with Florida dealing with injuries.  He’s just looking to get established as an NHL regular at this point but his arbitration eligibility could work against him if Florida thinks that filing for a hearing could push him into seven figures, a risk they might not want to take as he should also stay at the minimum.

There were times in this contract that Bobrovsky’s contract looked like a complete anchor on the books.  However, he has become a bit more consistent in recent years and when Florida traded Spencer Knight at the trade deadline last season, it suggested that their plan is to stick with Bobrovsky beyond this deal as they don’t have anyone else in their system that’s ready.  He’ll be entering his age-38 season in 2026-27 so a long-term deal isn’t likely.  However, a two-year pact could be doable, one that might land closer to half this amount.  Alternatively, if they were to go with a one-year offer, he’d be eligible for performance incentives which could give Florida some shorter-term wiggle room next season.

Tarasov had a rough year in Columbus, ultimately finishing as the third-string goaltender and getting moved for cheap in the summer.  If he can re-establish himself to the level he was at in 2023-24, he could make a case to land closer to $1.75MM or so on his next contract although that’s a price tag Florida likely can’t afford.

Signed Through 2026-27

F Jesper Boqvist ($1.5MM, UFA)
F Eetu Luostarinen ($3MM, UFA)
F Evan Rodrigues ($3MM, UFA)

Free agency hasn’t been kind to Rodrigues which helped explain why he signed a four-year deal for this price tag, a contract that had a chance to become team-friendly pretty quickly.  So far, so good on that front.  As a player who consistently passes 30 points and can play down the middle in a pinch, he should be able to land something in the $4MM range on his next contract.

Luostarinen has been a player who has produced a point total in the 20s in three of the last four seasons.  The production he had last playoffs (19 points in 23 games) was the outlier but for the most part, he has been a third liner making third-line money.  With his production generally being more limited, he might not be able to land as much as Rodrigues next time out.  Boqvist signed this deal near the trade deadline last season and he might have done better than he would have on the open market where he didn’t have a lot of luck in 2024.  As a fourth liner with a bit of versatility, his value should hover somewhere around this mark two years from now.

Signed Through 2027-28

F Jonah Gadjovich ($775K in 2025-26, $905K after)
D Dmitry Kulikov ($1.15MM, UFA)

Gadjovich hasn’t played a lot since joining Florida in 2023 but he has been a serviceable fourth liner who fits the physical style they want to play.  As a 13th forward in an ideal situation, keeping him at just over the minimum salary starting next season isn’t a bad deal for them.

The fact Kulikov received a four-year deal last summer was a surprise but he also left a fair bit of money on the table had he opted to go with shorter-term contracts.  The end result is that he gets a bit of security while the Panthers get a bargain deal for someone who, when healthy (which he currently isn’t), is still a pretty dependable third-pairing defenseman at this point.

Read more

Signed Through 2028-29

None

Signed Through 2029-30 Or Longer

F Aleksander Barkov ($10MM through 2029-30)
F Sam Bennett ($8MM through 2032-33)
D Aaron Ekblad ($6.1MM through 2032-33)
D Gustav Forsling ($5.75MM through 2031-32)
D Seth Jones ($7MM through 2029-30)*
F Anton Lundell ($5MM through 2029-30)
F Brad Marchand ($5.25MM through 2030-31)
D Niko Mikkola ($2.5MM in 2025-26, $5MM from 2026-27 through 2033-34)
F Sam Reinhart ($8.625MM through 2031-32)
F Matthew Tkachuk ($9.5MM through 2029-30)
F Carter Verhaeghe ($7MM through 2032-33)

*-Chicago is retaining an additional $2.5MM per season on Jones’ contract.

The days of Barkov being viewed as the NHL’s most underrated player have come and gone but he’s still one of the more underappreciated top-line centers in the league.  A legitimate top two-way player, he has also chipped in with more than a point per game in five straight seasons.  If he were on the open market following a normal year, he’d be making a few million more per season, especially as market value for players continues to escalate in this new cap era.  Of course, it’s worth noting that this is not a normal year.  A long-term knee injury has him on LTIR with the best-case scenario being a late-playoff return.  Assuming he can bounce back from that next season, Barkov should still be a bargain.

Florida GM Bill Zito made a bold move to get Tkachuk, sending two key contributors to Calgary to get him (Jonathan Huberdeau and MacKenzie Weegar), then signed him to this contract, a pricey one at the time.  It has worked out quite well as he has found another level with the Panthers, playing an instrumental role in their Stanley Cup titles.  With how the top winger market has moved in recent years, this deal is several million below market value already.  Reinhart followed up his career year with another year of more than a point per game last season and as long as he can stay near there (even if he doesn’t approach 57 goals again), this deal should hold up just fine for the.

With the playoff run Bennett had the last two seasons, someone was going to pay a big price to get him.  The price Florida paid is likely lower than what he would have gotten in free agency.  But, relative to his point production, it’s still a sizable overpayment.  But if he can keep playing at his postseason level in the playoffs for them, they’ll be happy with how the contract works out.  If that doesn’t happen, this will be a problematic deal for them.  Verhaeghe has been one of the NHL’s better bargains for several years now and even with this deal, if he stays in the 55-60-point range, it should age well, even if the contract isn’t the bargain it once was.

Considering Marchand is already 37, few would have expected a six-year contract but that’s what he was able to get with him taking a lower cap hit in return.  For now, he’s still a top-six forward and his price tag for that role is actually team-friendly for the time being.  The back few years could be an issue though as his age and playing style are likely to catch up to him.  Lundell is the one player at the other end of the spectrum; instead of being a veteran sticking around in his UFA years, Lundell signed this after his entry-level pact, only adding two years of team control.  His offense is still developing (getting a bigger role this season in Barkov’s absence will help there) but if he settles in as ‘Barkov-lite’ as some have suggested, this is going to be yet another club-friendly pact for a while.

Zito made a big splash near the trade deadline last season with the addition of Jones, a top-pairing all-situations player who had come under fire for some struggles in Chicago.  But counted on a bit less with the Panthers, he has settled in nicely and is effectively just making number two money for the portion Florida is paying.  That should give them plenty of value for a while.  The thought when Jones was acquired was that he might ultimately replace Ekblad but the former number one pick took a pay cut to stick around.  There’s some risk with the contract given the heavy workload he’s had in his career and some recent significant injuries so the final couple of years could be an issue.  But this is second-pairing money and he’s still holding his own in a top-pairing role.  They’ll be happy with his contract for a while.

Forsling will go down as one of the top waiver claims in recent memory, going from a depth piece in his previous stops to a legitimate top-four player who can chip in offensively and log big minutes.  This is already looking like a team-friendly pact with more than a half-decade to go; it should only get better value-wise from here.  Mikkola has fit in well since joining the Panthers in 2023 and has taken on a bigger role since then, making his current contract quite the bargain.  The new one looks a little on the high side now for someone who is a fourth defender but that should change as the market shifts over the next few years and that price point becomes more normal for someone in that role.

Buyouts

None

Retained Salary Transactions

None

Carryover Bonus Overage Penalty

None

Best Value: (non-entry-level) Samoskevich
Worst Value: Bennett

Looking Ahead

The biggest decision that Florida has to make on the cap front this season involves Barkov.  If it’s deemed that he won’t be able to play in the playoffs, he can go on season-ending LTIR, giving them an additional $6.2MM in their LTIR pool, plenty of space to get back to compliance when everyone else returns and add a piece or two.  If they don’t want to do that and keep him eligible for a possible late-playoff return, they’ll need to move out money at some point this season and be a money-in, money-out team after that.

At the moment, Florida has around $17MM in space for 2026-27 with around half a dozen players to sign, including a goalie tandem that could push to make around half of that.  That wouldn’t leave much flexibility to add but the core would be intact for another year.  That sentence should apply for a few more years, even when they already have more than $67MM committed for 2029-30.  A big chunk of their roster should be in a Panthers uniform for the long haul, mostly on contracts that should age relatively well.

Photos courtesy of Geoff Burke and Perry Nelson-Imagn Images.

Florida Panthers| Pro Hockey Rumors Originals| Salary Cap Deep Dive 2025 Pro Hockey Rumors Originals

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Sharks Reassign Ethan Cardwell To AHL

December 24, 2025 at 7:47 pm CDT | by Brian La Rose Leave a Comment

With the NHL now off for the next three days, there have been a handful of roster moves around the league today.  The new rule saying that players must play in at least one AHL game if they’re sent down has limited the number of moves but San Jose was among those to make one.  Curtis Pashelka of The Mercury News relays (Twitter link) that the Sharks have assigned winger Ethan Cardwell to AHL San Jose.

The 23-year-old was recalled a little more than a week ago following injuries to forwards Will Smith and Philipp Kurashev.  Since the promotion was so recent, Cardwell remained eligible to be sent down even with the roster freeze in effect.

Cardwell got into three games with the Sharks on this stint, bringing his season total to seven.  However, the most recent one – last night against Vegas – was particularly tough as he was on the ice for four goals against despite playing a season-low 9:48.  He didn’t pick up any points over those three outings, keeping his total for the campaign at one, a goal scored back in early November.

Cardwell has spent the bulk of the season with the Barracuda but injuries have limited him to just 14 games.  He has been productive in those outings, however, with three goals and six assists.

With the move, San Jose now has one open roster spot.  They can either choose to fill it by calling someone else up as early as Saturday or, if Kurashev is able to return, he can be activated into that vacancy.

AHL| San Jose Sharks| Transactions Ethan Cardwell

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Islanders Reassign Marcus Hogberg

December 24, 2025 at 6:29 pm CDT | by Ethan Hetu Leave a Comment

Thursday: Hogberg has been returned to Bridgeport, per the AHL’s transactions log.  Given that he now must play in at least one AHL game before being recalled, it’s fair to suggest that Sorokin will indeed be able to return after the break.

Tuesday: The New York Islanders announced today that netminder Marcus Hogberg has been recalled from the team’s AHL affiliate, the Bridgeport Islanders, on an emergency basis. In their announcement, the Islanders added that incumbent starting goalie Ilya Sorokin “has a small nagging issue” and the club “is taking advantage of the holiday break to rest” Sorokin. The expectation is that Sorokin will be ready to play after the break.

The Islanders play the New Jersey Devils tomorrow, and then will wait until Saturday for their next game, which comes against the New York Rangers. Per Stephen Whyno of The Associated Press, this development indicates that backup netminder David Rittich will get the start tomorrow night against the Devils.

There have not been any reports of an injury to Sorokin prior to today, so this development comes as a bit of a surprise. Sorokin has received a substantial diet of starts so far in 2025-26, playing 24 games compared to Rittich’s 12. Sorokin’s performance hasn’t given any clear indication that he’s managing an injury, either, as he’s posted a solid .910 save percentage across his 24 games played.

Rittich, 33, is a veteran backup who the Islanders signed over the summer to a one-year, $1MM AAV deal. He’s served as the backup while former tandem goalie Semyon Varlamov has remained out with an injury. Rittich has gone 7-3-2 as an Islander with a .908 save percentage and 2.54 goals against average.

He’ll be backed up tomorrow by Hogberg, a 31-year-old netminder who served as Sorokin’s backup for much of last season. He posted a .878 save percentage across 15 games on Long Island last season, and has a .881 save percentage in 14 games for Bridgeport in 2025-26. He’s playing out the second year of the two-year deal that brought him to New York and his contract carries a one-way structure this season.

New York Islanders Marcus Hogberg

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The Flyers Need To Add A Goalie To Stay In The Hunt

December 24, 2025 at 5:17 pm CDT | by Josh Cybulski 15 Comments

As we push into the second half of the NHL season, we’ve seen more chatter about goaltending and the rare in-season goalie trade involving the Oilers and Penguins. While Edmonton is still in the hunt for a new backup option after acquiring Tristan Jarry, they likely aren’t the only ones looking to add depth. One team that should consider a goaltending acquisition is the Philadelphia Flyers.

At first glance, you might ask yourself why the Flyers need help. They are currently seventh-best in the NHL at limiting goals against, thanks mainly to the unbelievable play of Daniel Vladar.

He entered the holiday break with a 13-5-3 record, a .910 SV% and a 2.39 GAA. Vladar’s underlying numbers look even better, as he’s 10th in the league with 14.6 goals saved above expected (per MoneyPuck). These numbers are terrific, but there are concerns about Vladar’s longevity as he tracks to eclipse 30 starts in a season for the first time in his career.

He could surpass that mark before the end of January, starting 21 of 36 so far. The 28-year-old Vladar had been a career backup with the Flames and Bruins before this season.

He wasn’t a particularly good No. 2 option either, posting below-average numbers in almost every season of his career. He signed a somewhat surprising two-year contract with the Flyers this past summer worth $3.35MM per season. No one could have expected him to perform the way he has, which has to make one wonder whether he can carry this play throughout the season, or whether he has simply started the year on an extended heater.

The Flyers haven’t played playoff hockey since the bubble in 2020 and haven’t hosted a home playoff game since Jake Guentzel put up a four-spot against them in Game 6 of the first round in 2018. They are due for playoff action in Philadelphia, and it would be a disaster to let goaltending be their downfall, as it has been so many times before. Their hot start has them second in the Eastern Conference with a .625 points percentage, fueled by some of the league’s best defensive results at 5-on-5.

Outside of the team defense and Vladar, the bright spots are limited. Their offense ranks 24th in the NHL in goals scored. On top of that, Philadelphia doesn’t have a reliable goaltending option outside of Vladar to lean on.

Sure, Samuel Ersson has shown glimpses before. This year, in 14 games, he’s been middling with a 6-4-4 record, an .872 SV%, and a 2.96 GAA. Ersson’s numbers don’t tell the whole story, as he hasn’t played as poorly as those traditional numbers would suggest, but the Flyers need better goaltending than that if they hope to make a playoff push.

Behind Vladar and Ersson is Aleksei Kolosov, who has seen limited NHL action this season, playing just two games. Only one of those appearances was a start, and Kolosov lost it. Still, he played well overall, posting a .929 SV% and a 1.62 GAA.

It’s tough to get overly excited about Kolosov’s play, given his more conservative .900 SV% in the AHL this season. The 2021 third-rounder is still just 23 years old and has room to grow, but for a team with legitimate postseason aspirations, there isn’t a slot for him as a legitimate backup option with a starter as historically untested as Vladar.

All of that to say, the Flyers have to look outside the organization for one of two options. The first option would be to find a tandem goaltender to pair with Vladar and deploy a platoon. The other option would be to find a higher-ceiling traditional backup to play behind Vladar. This is where it could get complicated for Philadelphia, as goalie trades are notoriously tricky in-season. Still, they can be done, as evidenced by the recent Stuart Skinner-for-Jarry swap.

As for available options, there are few. If Philadelphia wants a platoon option, the only choices truly in the rumor mill have been Jordan Binnington of the St. Louis Blues or Skinner. Skinner is a less likely candidate given that the Flyers and Penguins rarely trade with one another, but moving Skinner to Philly could be a win/win for both teams.

There are some outside-the-box options for the Flyers, however. Cam Talbot of the Detroit Red Wings has been phenomenal this year, posting better numbers than partner John Gibson. But Talbot is a UFA this summer, and with Sebastian Cossa waiting in the wings, Detroit could look to move Talbot for the right price. A similar situation is unfolding in Carolina, where Brandon Bussi has effectively taken over for veteran Frederik Andersen. Depending on how generous the Flyers are willing to be in their trade offer, they could potentially pry one of those two away.

That being said, the tightness of the playoff picture in the East still makes it conceivable they’ll fall out of it entirely. They might not want to blow many future assets on a veteran netminder this year. They could look at lower-tier options as well, such as David Rittich of the New York Islanders, Elvis Merzlikins of the Columbus Blue Jackets, or even one of the Seattle Kraken’s backups, Matt Murray or Philipp Grubauer.

Merzlikins and Grubauer are two massive gambles, with term left on their contracts beyond this season, but the Flyers have cap space and could gamble on one of them returning to the form they showed earlier in their careers. While those moves might give the Philadelphia more depth, it’s probably not the best course of action for a team chasing a playoff spot. Murray could be the best fit of the bunch, but with his injury history, it would be hard to count on him regularly.

Philadelphia Flyers| Pro Hockey Rumors Originals Daniel Vladar

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Hockey Canada Announces 2025 Spengler Cup Roster

December 24, 2025 at 4:19 pm CDT | by Josh Erickson 1 Comment

The Spengler Cup isn’t viewed as a major tournament on the world stage, but it’s among the most historic. First held in 1923, it’s the oldest invitational ice hockey tournament in the world and is hosted by Swiss National League club HC Davos, which is tied for the all-time lead with 16 tournament titles. It’s run annually from Dec. 26 to 31, with a series of round-robin matchups and a brief playoff bracket.

Team Canada is the other competing body with 16 championships. Each year, the governing body compiles what’s always an interesting list of names, usually with plenty of representation among former NHLers, even if just in the form of forgotten call-up names.

The squad is compiled of the top Canadian names in the National League who aren’t on the Swiss teams in the tournament – a list of just two this year in Davos and reigning champion Fribourg-Gottéron. More frequently in recent years, they’ve gotten NHL teams to loan minor-league fixtures to them on two-way deals for the event, as well as nabbing some Canadian talent contracted at the AHL and ECHL levels, and other European leagues.

Out of the 25 names on this year’s roster for Canada, 16 of them have a degree of NHL experience. This year’s tournament also includes a new face: a team compiled of some of the NCAA’s top talents who aren’t otherwise occupied with this year’s World Juniors.

This week, Hockey Canada revealed their contingent for the tournament. As follows, it’s made up of 14 forwards, eight defenders, and three goalies.

F Andy Andreoff (ZSC Lions, NL)
F Drake Caggiula (Lausanne HC, NL)
F Graeme Clarke (Hershey, AHL) under contract with Capitals
F Jean-Luc Foudy (Iowa, AHL)
F Tanner Fritz (SC Rapperswil-Jona, NL)
F Derek Grant (ZSC Lions, NL)
F Jonathan Hazen (HC Ajoie, NL)
F Tyler Morley (EHC Kloten, NL)
F Matthew Peca (Springfield, AHL)
F Anthony Richard (Lehigh Valley, AHL) under contract with Flyers
F Nate Schnarr (Kölner Haie, DEL)
F Brett Seney (Rockford, AHL)
F Michael Sgarbossa (HC Lugano, NL)
F Mason Shaw (Manitoba, AHL) under contract with Jets

D Calen Addison (Utica, AHL) under contract with Devils
D Nolan Allan (Rockford, AHL) under contract with Blackhawks
D Trent Bourque (JYP, Liiga)
D Nikolas Brouillard (San Diego, AHL)
D Gabriel Chicoine (Vlci Zilina, Slovakia)
D Jesse Graham (HK Nitra, Slovakia)
D Joe Hicketts (Ontario, AHL) under contract with Kings
D Jake Livingstone (Charlotte, AHL)

G Taylor Gauthier (Wheeling, ECHL)
G Connor Hughes (Lausanne HC, NL)
G James Reimer (UFA)

Team Canada Spengler Cup

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What Will Quinn Hughes’ Next Contract Look Like?

December 24, 2025 at 3:01 pm CDT | by Josh Cybulski 6 Comments

Now that the dust has settled on the Quinn Hughes trade to the Minnesota Wild and the superstar defenseman has settled into the Twin Cities, it’s fair to speculate about his future and whether it will include the Wild. Hughes is a little over 18 months away from becoming an unrestricted free agent. At a time when many superstars are taking the guaranteed money and staying put, it will be interesting to see whether he forgoes the free market for stability with the Wild. Hughes’ free agency case could be a landmark one, with so few players going to UFA and a salary cap soaring.

While the 27-year-old is a UFA on July 1, 2027, he can sign an extension in about six months. With the new CBA rules that cap the term at seven years instead of the previous eight, it could impact the term that Hughes will take. Does he lock in for the seven years early with his current team – or still eight if he signs before Sep. 15 – or will the allure of going to market convince him to accept a six-year term? The money will be there for Hughes either way, as will the term, but whether he wants to leave money on the table will be up to him.

In early October, Matt Sekeres and Blake Price discussed with Daily Faceoff’s Jeff Marek the potential for Hughes to become the NHL’s first $20MM player. Marek didn’t outright say he believed Hughes could become that player. Still, he did discuss the cascading effect of other players around the NHL coming to terms on lucrative deals, which will no doubt impact Hughes’ negotiations.

Many wondered if Connor McDavid could become the NHL’s first $20MM man, but he punted that opportunity and opted to remain in Edmonton at his current rate of $12.5MM. Hughes could make a similar move to McDavid and take a short-term deal at a discounted rate, but given that he was just traded, one has to think he won’t feel the same loyalty to the Wild that McDavid showed to the Oilers. Another wrinkle for Minnesota in getting Hughes to sign for a discount is that the Wild has already demonstrated they will pay a superstar’s market value to retain them, as they did with Kirill Kaprizov when they signed him to his massive record-setting extension earlier this year.

Given that the cascading effect is in play, there’s no greater impact than looking over at a talented teammate who got every cent they wanted and believing you should get it too. No one knows whether Hughes feels that way except himself, but with the allure of the free market and the temptation of playing with his brothers on a talented team in New Jersey, it’s hard to believe Hughes is going to leave money on the table to sign with the Wild.

That’s what makes the possibility of Hughes hitting a $20MM AAV all the more likely. The Wild gave up a ton to get the defenseman and aren’t going to let him walk for nothing. So, they have one of two choices: pay him what he wants or trade him after this season.

But who are Hughes’s comparables, and what kind of money is realistic on a long-term contract? The best comparable to Hughes is fellow defenseman Cale Makar of the Colorado Avalanche. Hughes and Makar have flipped the Norris Trophy in recent seasons as the league’s top defenseman. At this point, Makar is a step or two ahead of Hughes in terms of numbers and hardware. Makar has 470 points in 431 games, along with two Norris Trophies and a Calder Trophy, while Hughes has a single Norris Trophy and 435 points in 464 games. This also doesn’t factor in Makar’s Stanley Cup ring or his 4 Nations win this past year. Both men are slated to become free agents at the same time, which should make the parallel negotiations fascinating to watch. Outside of Makar and Hughes, there really is no comparable from a contract standpoint.

Thomas Harley of the Dallas Stars is a possibility after signing a long-term extension two months ago. Still, he isn’t nearly the contributor Hughes is and was only a restricted free agent next summer. Harley does have youth on his side, as he is just 24, but he doesn’t have a resume close to Hughes’ and isn’t in the same stratosphere offensively with just 117 points in 223 career NHL games. Harley is still a terrific player, but his $10.587MM cap hit isn’t remotely close to the number Hughes should command.

Odds are, Makar will ink his deal first, as he is pretty comfortable in Colorado and they have the cap space to make him a top offer, which should eclipse Kaprizov’s $17MM AAV if he goes for full value. As Tyler Yaremchuk and Carter Hutton discussed on DFO Live back in October, the escalating cap is going to allow guys like Makar to call their shots on their next deals. Still, there is no way to gauge whether money will be the driving force for Makar, or for Hughes, for that matter.

While Makar and Hughes will be linked by their free agency timelines and play, the similarities taper off after that. Hughes has family dynamics at play and no personal connection to his team yet. Those dynamics will be primary considerations for both players and could change the money they are ultimately willing to play for. Makar has been part of a winning environment for quite some time, while Hughes has two brothers playing on the same team and a potential path to join them in New Jersey. Makar has better career numbers than Hughes, but as we saw with Connor McDavid, loyalty, fit, family, and friendship can shave millions off a player’s cap hit. In the case of Hughes and Makar, time will tell if that happens.

Image courtesy of Matt Blewett-Imagn Images.

Minnesota Wild| Pro Hockey Rumors Originals Quinn Hughes

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Maple Leafs Notes: Berube, Lalonde, Salary

December 24, 2025 at 1:59 pm CDT | by Brennan McClain 6 Comments

After the Toronto Maple Leafs fired assistant coach Marc Savard on Monday, many began to speculate that head coach Craig Berube may be on the chopping block as well. Speaking with the media yesterday, Maple Leafs General Manager Brad Treliving put those rumors to bed.

According to TSN’s Chris Johnston, when asked about Berube’s future in Toronto, Treliving said, “I want to make it clear. I support Craig fully.” Still, knowing the pressure the Maple Leafs face consistently, things can change relatively quickly in Toronto. Berube is 68-41-9 (61.4% win percentage) as the Maple Leafs’ head coach, but the team has fallen five points back of the final wild-card spot in the Eastern Conference and is in 23rd place in the league standings.

If Berube stays, it won’t be because the Maple Leafs didn’t have any external options, either. The recent head coach of the Dallas Stars, Peter DeBoer, is still seeking a new job and may jump at the chance to guide an Original Six franchise. Since the 2011-12 season, with four different teams, DeBoer has coached his team to eight Conference Final appearances and two in the Stanley Cup Final. However, he has yet to coach a team to the sport’s highest glory.

Additional notes from the Maple Leafs:

  • Now that Savard has exited the organization, the Maple Leafs needed a coach to take over the team’s power play, which is last in the league with a 13.04% success rate. Reporting from Treliving’s media availability, Terry Koshan of the Toronto Sun shared that Derek Lalonde will be tasked with that duty. During his time as head coach of the Detroit Red Wings, the team was one of the best with the man advantage, though much of that rested on the shoulders of Lalonde’s assistant coach at the time, Alex Tanguay.
  • When it comes to how the team will approach the other half of the regular season, David Pagnotta of The Fourth Period suggested that the Maple Leafs could look to move out some money. Pagnotta listed players such as Max Domi, Brandon Carlo, and Matias Maccelli as obvious candidates to be on the move. Still, given that Treliving shared that the team was not ready to punt on the 2025-26 campaign, it’s unlikely that the Maple Leafs are going to make many subtractions from their roster.

Toronto Maple Leafs Brad Treliving| Brandon Carlo| Craig Berube| Derek Lalonde| Matias Maccelli| Max Domi

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Hurricanes Reportedly Tried To Swap Kotkaniemi For Danault

December 24, 2025 at 1:00 pm CDT | by Brennan McClain 14 Comments

In a recent episode of Oilersnation Everyday, The Fourth Period’s David Pagnotta reported on a recent trade that didn’t go through. Pagnotta suggested that before ultimately dealing him to the Montreal Canadiens, the Los Angeles Kings had conversations regarding Phillip Danault with the Carolina Hurricanes.

Even more fascinating about Pagnotta’s report is that the Hurricanes wanted to include former third-overall pick Jesperi Kotkaniemi in the package for Danault. The Kings were reportedly less turned off by Kotkaniemi’s $4.82MM salary than they were by the five years remaining on his contract.

Presently, the savings would have been negligible at best. Kotkaniemi is earning roughly $680K less than Danault for this year and next, which wouldn’t even have been enough for Los Angeles to recall another player making the league minimum salary if they needed. Additionally, since Kotkaniemi’s contract runs three years longer than Danault’s, the Kings would have added around $14.5MM in future costs.

There isn’t much separation in their offensive contributions either, despite Danault’s disappointing start to the year. Kotkaniemi has two goals and six points in 20 games for the Hurricanes this season, whereas Danault registered five assists in 30 games before the trade. Furthermore, Danault has the edge in faceoff percentage and on-ice save percentage at even strength, which are critical metrics for supposed middle-six centers.

All that suggests that the Hurricanes were merely looking to include Kotkaniemi in what would have been a larger package. Carolina doesn’t own their second-round pick this season, but could have attached next year’s second-rounder, or even one of their additional thirds, in a package with Kotkaniemi.

Still, the scrapped trade for Danault is at the very least indicative of how the Hurricanes view Kotkaniemi. As the upper limit of the salary cap continues to rise and Carolina keeps most of their core on relatively team-friendly contracts, Kotkaniemi’s deal isn’t as much of a drain as it has been in years past. However, given the value he provides, or lack thereof, it’s unsurprising to see a competitive team like the Hurricanes looking to move him for an upgrade.

Any deal involving Kotkaniemi will likely be for another underperforming player, similar to Danault’s situation in Los Angeles. Despite not living up to his draft selection, he’s only 25 years old, and some teams may believe they’ll have a chance to squeeze the last bit of development out of him.

Carolina Hurricanes| Los Angeles Kings Jesperi Kotkaniemi| Phillip Danault

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Marc-Andre Fleury Reportedly Generating Interest

December 24, 2025 at 11:45 am CDT | by Brennan McClain 14 Comments

Dec. 24th: Speaking on The Kevin Karius Show on Sports 1440, Frank Seravalli suggests that the Oilers are unsurprisingly one of the teams that have checked on Fleury’s availability. Additionally, on the chances of Fleury eventually playing through the last half of the regular season with Edmonton, Seravalli said it’s “70/30.”

Dec. 23rd: The 2024-25 season may not have been the last with ’Flower’ after all. Yesterday evening, TSN’s Pierre LeBrun reported that a few teams have reached out to netminder Marc-André Fleury to gauge his interest in returning for a 22nd season.

As LeBrun noted in his report, it’s relatively unsurprising that teams have reached out to Fleury. The league averaged a .899 SV% in 2022-23 and a .898 SV% in 2023-24, respectively, before dropping to a .893 SV% last year and maintaining the same level this season. Given that he averaged a .902 SV% from his age 37 to age 40 season with the Minnesota Wild in 123 games, Fleury could theoretically provide stability for a team between the pipes.

Still, as much as a few teams may want Fleury on their roster for the final half of the regular season, there’s no guarantee the 41-year-old netminder will reciprocate that interest. If Fleury does return, it will almost assuredly be for a perceived contender for a chance to win the fourth Stanley Cup ring of his legendary career.

However, this season, three out of four teams from last year’s Conference Finals have a SV% below .890 through the holiday season, giving Fleury a few options to pick from.

The Carolina Hurricanes make some sense, but already have three netminders on the roster, meaning one would have to go, at least. The team has relied on rookie netminder Brandon Bussi for much of the season, with inspiring results, but may want an additional veteran presence. Technically, the team already has one in Frederik Andersen, but the 36-year-old netminder hasn’t played since early December and has a .875 SV% through 14 starts this season.

Meanwhile, the back-to-back Stanley Cup champion Florida Panthers, who are 27th in the league with a .882 SV%, may be of interest to Fleury if he wants to return. Unfortunately, most of that average hangs on starter Sergei Bobrovsky, who has a .888 SV% through 27 games played this season. There’s little chance of Fleury usurping Bobrovsky in the starter’s crease, but he may provide more stability than Daniil Tarasov as a backup.

Lastly, the Edmonton Oilers have been the most infamous team in the league this year when it comes to goaltending struggles. Edmonton is last in the league with a .875 mark, but has seemingly addressed a portion of this issue by acquiring Tristan Jarry from the Pittsburgh Penguins a few weeks ago. Still, given that Jarry is out for the next few weeks, and the Oilers have received putrid results from Calvin Pickard and Connor Ingram, Fleury could round out the goaltending room.

Additionally, the General Manager of the Oilers, Stan Bowman, has a brief history with Fleury dating back to his time with the Chicago Blackhawks. In one of his last moves with the organization, Bowman acquired Fleury from the Vegas Golden Knights in the summer of 2021 before resigning from his post with the Blackhawks three months later.

Uncategorized Marc-Andre Fleury

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USA Hockey Announces Roster For World Juniors

December 24, 2025 at 11:08 am CDT | by Josh Erickson 5 Comments

Dec. 24th: The United States team has gotten its roster down to 25 players. The back-to-back World Junior Championship gold medalists announced the group of players they’ll be bringing to Minneapolis and St. Paul in the next few days. Trevor Connelly (injury), Jacob Kvasnicka, Henry Brzustewicz, Blake Fiddler, are the four that didn’t make it from the preliminary roster, while Will Zellers (Bruins, 2024, 3-76) was a late addition.

Dec. 1st: USA Hockey has announced its 28-player preliminary roster for the upcoming World Junior Championship in Minneapolis and St. Paul. They only need to make three cuts by the time final rosters are due Dec. 24, two days before round-robin action begins. They’ll do so over the course of their selection camp, which they’ll hold a few hours north of the Twin Cities in Duluth. That will begin on Dec. 15 and run for a week, including two pre-tournament friendlies against Finland and Germany. The initial squad is as follows:

F Kamil Bednarik (Islanders, 2024, 2-61)
F Trevor Connelly (Golden Knights, 2024, 1-19)
F Cole Eiserman (Islanders, 2024, 1-20)
F James Hagens (Bruins, 2025, 1-7)
F Will Horcoff (Penguins, 2025, 1-24)
F Jacob Kvasnicka (Islanders, 2025, 7-202)
F Ryker Lee (Predators, 2025, 1-26)
F Cole McKinney (Sharks, 2025, 2-53)
F Brendan McMorrow (Kings, 2025, 7-196)
F L.J. Mooney (Canadiens, 2025, 4-113)
F Max Plante (Red Wings, 2024, 2-47)
F A.J. Spellacy (Blackhawks, 2024, 3-72)
F Teddy Stiga (Predators, 2024, 2-55)
F Shane Vansaghi (Flyers, 2025, 2-48)
F Brodie Ziemer (Sabres, 2024, 3-71)

D Asher Barnett (Oilers, 2025, 5-131)
D Henry Brzustewicz (Kings, 2025, 1-31)
D E.J. Emery (Rangers, 2024, 2024, 1-30)
D Blake Fiddler (Kraken, 2025, 2-36)
D Logan Hensler (Senators, 2025, 1-23)
D Cole Hutson (Capitals, 2024, 2-43)
D Adam Kleber (Sabres, 2024, 2-42)
D Luke Osburn (Sabres, 2024, 4-108)
D Chase Reid (2026 draft-eligible)
D Dakoda Rhéaume-Mullen (undrafted in 2025)

G Caleb Heil (Lightning, 2025, 7-193)
G Nick Kempf (Capitals, 2024, 4-114)
G A.J. Reyelts (undrafted in 2024, 2025)

The contingent will have University of Minnesota bench boss Bob Motzko as its head coach as they aim for their third straight gold medal. It’s a rather star-studded contingent – particularly up front, where five of the 15 forwards selected were first-round picks.

Perhaps the most dynamic player among the group is neither a forward nor a first-round pick. Hutson, much like his older brother Lane Hutson, has quickly outpaced his second-round billing and will be one of the league’s most anticipated prospects when he makes his arrival with Washington, presumably next spring. The 5’11” lefty was instrumental in the United States’ win at this tournament last year, leading the circuit with 11 points in seven games. After taking home NCAA top rookie honors in 2024-25, he’s rattled off seven goals and 18 points through his first 15 games at Boston University.

Alongside Hutson, seven others – Connelly, Eiserman, Hagens, Hensler, Kleber, Plante, Stiga, and Ziemer – are returning from last year’s squad.

While it’s an established skater group, it’s the most questionable group of goaltenders they’ve brought to the event since 2022. Kempf, a sophomore at Notre Dame who’s sporting a .902 SV% and 4-9-1 record in 14 games this year, is the likely No. 1. Reyelts, also 19 years old, has no previous national team experience and has a .901 SV% in 19 games for WHL Penticton this season. Heil previously suited up for the U.S. at the U18 World Juniors but has struggled with a .891 SV% in 16 games this season for USHL Madison.

Team USA World Juniors

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