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Players Who Could Start The Season On LTIR

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While only a handful of teams project to need cap relief via long-term injured reserve to open the season, multiple candidates across the league might technically qualify for a placement. Doing so would bar the player from returning until Oct. 31 at the earliest – 24 days from the season start date of Oct. 7.

Avalanche: Logan O’Connor

O’Connor underwent hip surgery in early June. Given the five-to-six-month projected recovery window, he won’t be available until early November at best, putting him past the 10-game/24-day threshold required for LTIR. Colorado, which has $2.10MM in current cap space, will likely place O’Connor on standard IR if they don’t make any other cap-affecting moves between now and October. If they need the relief, though, they could create up to O’Connor’s $2.5MM cap hit in cushion for the first few weeks of the season if they need it.

Blues: Torey Krug

St. Louis general manager Doug Armstrong announced in May that Krug’s career is done because of pre-arthritic conditions in his left ankle that surgical intervention only slowly corrected. Since the Blues only have around $625K in cap space, Krug and his $6.5MM cap hit will be going on LTIR as soon as they need the flexibility for a call-up.

Canadiens: Carey Price

What’s certain is that Price won’t play this season or ever again. He’s entering the final season of his contract at a $10.5MM cap hit after confirming nearly two years ago that his knee injury would prohibit him from suiting up again. What’s uncertain is whether or not he’ll begin the season on LTIR. Montreal isn’t in a great position to optimize its LTIR relief, either by matching his cap hit in excess or getting down to $0 in space before placing him on the list. That’s made his contract a trade chip for teams who might need the relief more.

Devils: Johnathan Kovacevic

Kovacevic underwent knee surgery in early May and won’t be ready for training camp and likely opening night as well. Whether that stretches past Oct. 31 and makes him eligible for an LTIR placement if New Jersey needs cap relief early on remains to be seen.

Flyers: Ryan Ellis, Rasmus Ristolainen

Ellis’ career is over after sustaining a wide-ranging muscular injury in his pelvis just four games into his Flyers tenure in 2021. Ristolainen underwent a procedure on his right triceps tendon on March 26 with a six-month recovery time, putting him right on the edge of potential LTIR eligibility. Philly will have a better idea of the latter’s LTIR deployment potential after he undergoes his training camp physical. With $370K in cap space, they’re in a good position for near-max LTIR capture and will almost certainly at least place Ellis there to begin the year to give them call-up flexibility.

Golden Knights: Alex Pietrangelo

Pietrangelo is already on offseason LTIR, meaning the Knights actually still have to add an additional $1.2MM to their roster before opening night to optimize his capture and unlock his full $8.8MM cap hit’s worth of relief for this season. The team confirmed he requires multiple undisclosed but significant surgeries that will likely mark the end of his playing career, but it’s unclear if he’s actually had them done yet.

Jets: Adam Lowry

Lowry underwent hip surgery in late May and won’t be available until after Thanksgiving at the earliest. Winnipeg likely won’t be formalizing an LTIR placement with nearly $4MM in cap space, though.

Mammoth: Juuso Välimäki

Välimäki underwent ACL surgery in early March. He likely won’t end up on LTIR given Utah’s current cap flexibility ($6.68MM), but he’ll be out until at least early November so he’ll be there as an early-season option in case they need relief for whatever reason.

Oilers: Zach Hyman

Hyman’s inclusion here is on the speculative side. The winger could very well be ready for the start of the season. However, there hasn’t been much clarity on how much recovery he still needs after undergoing surgery to repair a severe wrist injury that kept him out of the Stanley Cup Final. A report in early June indicated there was uncertainty about his status for training camp, with no meaningful updates since then.

Panthers: Matthew Tkachuk

Tkachuk told ESPN’s Greg Wyshynski earlier this month that he’s still deciding whether he wants to undergo surgery to address the adductor issue that hampered him down the stretch and in the playoffs after sustaining it at the 4 Nations Face-Off. All signs point to him opting for it and spending the next two to three months on the shelf as a result, though. Placing him on LTIR is the only way the Panthers, who currently have a cap exceedance of $3.725MM, can be compliant to start the season without shedding a significant contract, something they aren’t keen to do.

Wild: Jonas Brodin

Minnesota has $9.41MM in cap space, but that number will shrink once they re-sign restricted free agent Marco Rossi (or add salary while trading his signing rights). Neither scenario will likely push them into a situation where they need to use LTIR relief, but they might have Brodin and his $6MM cap hit as an option for some short-term flexibility if required. He underwent an upper-body procedure in early June and is questionable for the beginning of the season, so it’s not yet clear if he’ll miss enough time to qualify.

Evan Cormier Remaining In Panthers Organization On AHL Deal

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The Panthers organization is retaining goaltender Evan Cormier on an AHL contract with the Charlotte Checkers, per a team release. Cormier has spent the last two seasons on AHL deals with the Checkers, signing NHL contracts with Florida at each trade deadline to give them an emergency backup option down the stretch and in the postseason. He cleared waivers each time to play out the regular season in the minors.

Cormier, 27, was a fourth-round pick by the Devils in 2016 but saw his signing rights expire following the 2017-18 season. The team nonetheless signed him to his entry-level contract midway through the following year, bringing him out of the University of Guelph to make the jump to the pros. He spent the next three years in the organization with AHL Binghamton and ECHL Adirondack before being non-tendered following the 2021-22 season.

From 2021 to 23, Cormier primarily played in the Jets organization under contract with AHL Manitoba. Like he has the past two years with Florida, he inked a two-way NHL deal with Winnipeg at the 2023 trade deadline to give them a playoff EBUG option.

Cormier has still never played an NHL game, though, and last season was his first without AHL time since he turned pro. The 6’3″ Ontario native instead spent the year with Florida’s second-tier affiliate, ECHL Savannah, where he struggled with a 3.38 GAA, .887 SV%, one shutout, and a 17-13-4 record in 36 appearances.

With the Cats having Cooper Black, Brandon Bussi, and Kirill Gerasimyuk all signed to two-way deals for the upcoming campaign, their AHL goaltending situation is set. Cormier will likely reprise the same ECHL role for them next season, and the likelihood of him getting another late-year NHL deal is slim with Florida entering the season with five contracted options between the pipes.

Red Wings' Were Preparing Substantial Offer For Ekblad

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On the heels of winning their second consecutive Stanley Cup championship, the Florida Panthers continued to impress the hockey world by re-signing their three biggest pending unrestricted free agents entering the offseason: Sam Bennett, Brad Marchand, and Aaron Ekblad. Even more impressively, the Panthers were able to re-sign the latter two for deals well short of their projected value on the open market.

Mirtle argued that Ekblad’s situation might be different due to his strong affection for the Panthers organization. However, most top-tier free agents are reluctant to sign with Detroit, as the team has not made the postseason since the 2015-16 season and has not won a playoff series since the lockout-shortened 2012-13 campaign. Still, the Red Wings will enter the 2025-26 season with the seventh-most cap space of any team, and will have even more for what is shaping up to be a loaded free agent class next summer.

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Panthers Sign Mike Benning To Two-Way Contract

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The Panthers have signed RFA defenseman Mike Benning, according to a team release. The deal is a two-way pact, although financial terms weren’t disclosed.

Benning remains in the Florida organization after spending his first two professional seasons with the AHL’s Charlotte Checkers while he played out his entry-level contract. While he missed nearly 20 games last season due to injury, he upped his offensive production to 23 assists and 32 points in 54 games after posting 26 points in 72 games in his rookie season for Charlotte. That wasn’t enough to get him an NHL call-up, though, and he became an RFA this summer without a top-level game to his name.

As a 10.2(c) player with fewer than three years of professional experience, Benning was ineligible to sign an offer sheet or to request an arbitration hearing upon receiving a qualifying offer in June. He was locked into a new deal with the Panthers as a result, one that presumably includes a raise over the $80K minors salary dictated by his ELC and maintains his waiver-exempt status for one more season.

A fourth-round pick by the Cats in 2020, Benning always faced an uphill battle for NHL minutes because of his 5’9″, 176-lb frame. Despite that, he was a dominant two-way threat in college at the University of Denver. His standout sophomore season in 2021-22 saw him record a 15-23–38 scoring line with a +32 rating in 41 appearances. Not only did he help the Pioneers to an NCAA championship, but he was also named the MVP of the national tournament. He recorded 34 points in 39 games the following season to be named the NCHC’s best offensive defenseman before turning pro with the Panthers in 2023.

Because of his underwhelming frame, he’ll need to become an undeniable offensive force at the minor-league level to sniff an NHL role. While he’s steadily improved since making his pro debut, that hasn’t quite happened yet. Today’s deal gives him another year of runway and ideally at least one call-up opportunity to prove he could at least be effective as a power-play specialist.

The Panthers have now filled 45 of their 50 contract slots for 2025-26. They have no other unsigned RFAs remaining, at least among players who haven’t already agreed to contracts overseas.

Latest On Matthew Tkachuk

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Florida Panthers star Matthew Tkachuk is continuing to work his way back from an adductor injury sustained during the 4-Nations Face-Off tournament in February. The injury ended Tkachuk’s regular season early, though he played through it for all 23 games of Florida’s run to the Stanley Cup. Now, Tkachuk is paying the price of a long-term injury, and faces the often uncomfortable question of whether to undergo surgery to address the ailment. Tkachuk told ESPN’s Greg Wyshynski that surgery would require him to miss the first two-or-three months of the regular season.

That’s a long time for Florida to be without one of their top scorers. Tkachuk finished the year ranked third on the team in points (57) even despite missing the last 30 games of the regular season. Luckily, the St. Louis-native has shown a consistent knack for being able to play through, and above, painful injuries. He tied for Florida’s scoring lead during the postseason, with eight goals and 23 points in as many games. It was an incredibly impressive performance, given Tkachuk entered the postseason having not played a game for three months.

That ability to bounce back to form could make a delayed start to the season a bit easier to stomach. Wyshynski emphasized previous reports that one of Tkachuk’s main goals for next season is to play for Team USA at the 2026 Winter Olympics. A few-month absence would put him back on the ice just weeks ahead of the NHL’s midseason break, and could provide a chance for 10-to-15 games worth of conditioning. That may be a short window for the average player, but Tkachuk’s ability to quickly jump back onto the scoresheet should only be emphasized on the international stage.

He scored three points in three games at the 4-Nations tournament, his first time representing America at a Men’s National tournament. Prior to that, Tkachuk managed 11 points in seven World Junior Championship games in 2016, 12 points in seven games at the World U18 Championship in 2015, and seven points in six games at the World U-17 Hockey Championship in 2014.

Around his spot appearances with Team USA, Tkachuk has managed a star-studded NHL career. He earned his first 100-point campaign in the 2021-22 season – netting 104 points in 82 games with the Calgary Flames – and then one-upped it with 109 points in 79 games with the Florida Panthers in the next season. Tkachuk was also rarely injured, averaging 74 games and 72 points per season before the 2024-25 campaign. Last year’s shortened season brought his career averages down to 71 points in 71 games each season.

That scoring precedent will make Tkachuk a must-include for the Olympic roster, should he be healthy in time for the tournament. He shared that he was “50/50” on undergoing surgery when the season came to a close, and has spent the off-season taking the time to ensure he’s making the right decision. If he does go under the knife, Florida could be due for a big boost of cap space through the first-half of the season.

How The Canadiens, Golden Knights, And Panthers Will Use LTIR

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At the time of writing, the Canadiens, Golden Knights, and Panthers are the only three teams that have negative projected cap space to open the season, per PuckPedia.

Those clubs also have high-priced LTIR candidates. Montreal’s Carey Price and Vegas’ Alex Pietrangelo are either retired or ruled out for the season and have cap hits higher than the amount their respective clubs are in the hole. Florida is likely to have Matthew Tkachuk miss significant time to start the year as he continues to get back to full health from last season’s adductor injury. While they won’t have a whole year’s worth of LTIR relief for him, they still have a clear pathway to compliance to start the season without making a cap-shedding trade.

But while these teams have a pathway to cap compliance, it’s not as simple as making an LTIR placement and calling it a day. LTIR usage isn’t blanket cap relief based on the cap hit of the injured player – the amount of financial relief a team gets is tied directly to how well a team optimizes its roster before making the placement.

There are two methods of going about this. The first, and more common one, is waiting until the start of the season to place a player on LTIR.

That means a club needs to, even if it’s for a matter of minutes via paper transactions, be cap-compliant without LTIR usage before making the placement and using their newfound flexibility to restore their roster. The difference between the LTIR player’s cap hit and the cap space available when making the placement will be the relief pool amount the team has to work with – hence why teams using LTIR to start the year try to get as close to $0 in cap space as possible to unlock the player’s full cap hit in relief.

The second involves the usage of offseason LTIR. If a team opts to place a player on LTIR before the season starts, the relief amount is equivalent to their cap excess. In that case, it behooves a team to spend more to boost the amount they exceed the cap by as close as the injured player’s cap hit as possible.

That second method is almost certainly what Vegas will use. Their roster is currently set to exceed the cap by $7.64MM, per PuckPedia, roughly $1.16MM shy of Pietrangelo’s $8.8MM cap hit.

With the rest of their offseason business done and one roster spot open, the Knights still haven’t signed restricted free agent winger Alexander Holtz to a new contract for 2025-26. Signing him to a one-year deal worth exactly $1,161,429 would allow them to have a perfect LTIR capture when opening-night rosters are due, allowing them the full $8.8MM relief amount throughout the season. That figure is above Holtz’s market value anyway, so it’s unlikely they’d have any trouble convincing him to ink that contract.

At first glance, Florida’s pathway to making things work is more likely the first option, if for no other reason than the fact they’ll need the flexibility to activate Tkachuk in-season when he’s cleared to play. They’re also much closer to no cap exceedance than $9.5MM, Tkachuk’s cap hit, worth of exceedance.

Wouldn’t the Panthers thus look to clear exactly their projected exceedance of $3.725MM via paper transactions that can be reversed after Tkachuk’s LTIR placement? Not exactly.

Usually, teams in that situation have a few young waiver-exempt players on their roster that they can briefly send down to the AHL to achieve the intended result. The Panthers have no waiver-exempt players on their projected 22-player roster, and the likelihood of a claim for highly-regarded Cup-winning depth talent like Jesper Boqvist, Jonah Gadjovich, or A.J. Greer is almost 100%.

With the Cats prioritizing continuity between last year’s championship team and this one above all else, it stands to reason they might simply take severely reduced LTIR flexibility out of the gate. Making no other moves before LTIRing Tkachuk would leave them with only $3.725MM in flexibility to open the season, compared to their potential $9.5MM if they tried to optimize his relief. Still, as they’d need to activate him later in the year, they wouldn’t take full advantage of that $9.5MM even if they had it.

As for the Canadiens, they’re stuck in the mushy middle. Price’s cap hit is $10.5MM, and their projected exceedance is $5.93MM. That means they’d either need to shed nearly $6MM in cap space or add over $4.5MM worth of cap hits to take advantage of his placement fully.

For a team on the rise with playoff aspirations and some holes in their middle-six forward group, the latter outcome is the likelier one. They still only have $4.5MM in flexibility if they decide to go that route, though, pricing them out of a new deal for top centers on the trade market like RFAs Mason McTavish and Marco Rossi without sending a significant salary – potentially Kirby Dach’s $3.36MM cap hit or Alex Newhook’s $2.9MM cap hit – back the other way to help make up the difference.

Brady Keeper Announces Retirement

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A product of the NCAA’s University of Maine, Keeper signed with the Florida Panthers toward the end of the 2018-19 season as a collegiate free agent. He debuted with the Panthers during the 2018-2019 season, skating for 12:40 in a game against the Ottawa Senators on March 28, 2019. He recorded one blocked shot and two hits.

He spent the next few years moving from the Panthers to the Vancouver Canucks, before finally landing in the Montreal Canadiens organization in the 2023-24 season. Outside of an additional game with Florida, he’s only played in the AHL, finishing his career with 10 goals and 31 points in 129 games with a -2 rating and 208 PIMs. Unless he changes his mind on retirement in the next few years, his last professional hockey contest will have come with the AHL’s Laval Rocket in 2024.

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Panthers Not Expected To Trade Evan Rodrigues

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Although they are free to do so during the offseason, the Florida Panthers are currently $3.725MM over the upper limit of the salary cap. This means that in a few months, the Panthers will need to trim nearly $4MM from their active roster for a cap-compliant lineup, and many have speculated that Evan Rodrigues and his $3MM salary could be a consequence of that reality.

Still, no guarantee it’ll happen, and it’s even appearing unlikely. In the most recent rendition of 32 Thoughts with Sportsnet’s Elliotte Friedman, the journalist said he doesn’t believe Florida will trade Rodrigues this offseason, despite the need for additional cap space.

Rodrigues’ spot on the roster was likely made safe by the recent injury update, again from Friedman, regarding winger Matthew Tkachuk. Friedman shared a few days ago that he doesn’t believe Tkachuk will play meaningful hockey until the Winter Olympics next season due to a torn adductor muscle suffered during the postseason. If that’s the case, the Panthers could place Tkachuk and his $9.5MM on LTIR for the first five months of the regular season, giving them more than enough space for cap compliance.

General Manager Bill Zito has already been commended this summer for his ability to retain a large portion of the lineup that won the franchise its second consecutive Stanley Cup championship a few months ago. Again, although they’d likely much rather have Tkachuk in the lineup for the entire regular season, Zito has avoided a situation where he’d have to move on from Rodrigues.

Rodrigues has never been a true top-six piece at the NHL level, but has offered teams the flexibility to move him anywhere around the lineup. The Panthers have gotten exactly what they expected out of him when they signed him to a four-year, $12MM agreement before the 2023-24 season.

Since donning the Panthers’ crest, Rodrigues has scored 27 goals and 71 points in 162 games with a +22 rating, averaging 15:12 of ice time per game. He’s been a consistent physical presence in the team’s middle-six, and has even provided them with quality defense as evidenced by his 91.9% on-ice save percentage at even strength.

Rodrigues, like many of his teammates in Sunrise, has elevated his performance during the postseason. In the Panthers’ two most recent Stanley Cup Final victories, he has scored nine goals and accumulated a total of 30 points in 45 games. Additionally, he has recorded 98 hits and averages 15:24 of ice time per game. He’s never been the most important player on Florida’s roster, or even the most well-known, but the franchise recognizes the value he brings and has done well to retain him.

Matthew Tkachuk Expected To Miss Start Of Season

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  • Friedman also provided an injury update on Florida Panthers forward Matthew Tkachuk, who revealed after winning the Stanley Cup that he had been playing through a torn adductor muscle throughout the postseason. Friedman shared his belief that Tkachuk will miss a big chunk of the regular season, but sees a path for him to be ready for the Olympics next winter. “I think (the Olympics) is a huge deal for him. But I do think he’ll miss the start of the year and a chunk of time after that,” he said. Tkachuk, and his brother, Brady Tkachuk, played a huge role in the 4 Nations Face-Off and are expected to be a focal point of the U.S team at the Olympics if healthy.

Panthers Sign Tobias Bjornfot

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The Panthers have signed restricted free agent defenseman Tobias Bjornfot to a two-way contract, per a team press release. He’ll earn a $775K salary in the NHL and a $450K salary in the minors this season, according to PuckPedia.

Bjornfot was a first-round pick by the Kings in 2019 out of the Djurgarden program in his native Sweden, but he and L.A. decided to move his development to North America immediately after he was drafted. In hindsight, that was a hasty decision for a mobile but raw stay-at-home defender who played most of his draft year at the under-20 level in Sweden, and he never pieced together a career as a full-time NHLer as a result.

Florida is Bjornfot’s third NHL organization. He ended up being claimed off waivers by the Golden Knights in January 2024 before the Panthers snagged him off the wire two months later. He’s remained in the organization since, successfully passing through waivers at the beginning of 2024-25 and spending most of the season with the AHL’s Charlotte Checkers.

Last season saw Bjornfot regain some stability after suiting up for five different NHL and AHL clubs in 2023-24. He made 50 regular-season appearances for Charlotte, posting a 5-13–18 scoring line and a plus-six rating. He also added seven points in 14 AHL playoff games and made 14 NHL appearances for the Panthers as an injury replacement throughout the season, going without a point and logging a minus-three rating while averaging 13:06 of ice time per night.

He’s a fine No. 8 defender at this stage of his career, and while he doesn’t have the current pedigree nor ceiling that his draft position indicated, he’s still an experienced and reliable call-up option that benefits a Panthers club that lost some of its organizational defensive depth this summer following its second straight Stanley Cup championship. Bjornfot, 24, will be a restricted free agent with arbitration rights again next summer.

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