The 2025 free-agent frenzy was anything but. The Florida Panthers retained their three pending unrestricted free agents before July 1, and Mitch Marner was traded to the Vegas Golden Knights before hitting the market as the top prize. Nikolaj Ehlers, the best player left, was in no rush to sign.
It was a dud, but next year has potential to make up for it and then some with a loaded list of players eligible to test free agency. Here are some names to get excited about - as long as extensions don't ruin too much of the fun.
League-altering decisions
Connor McDavid: He would unquestionably be the biggest free agent in NHL history. McDavid said he's willing to sign an extension in Edmonton if the Oilers prove they can build a sustainable winner. The clock's ticking, and we're all watching.
Franchise players
Jack Eichel: It would make little sense to bring in a world-class, top-line winger only to let your world-class, top-line center walk a year later. The Golden Knights have a ton of money opening up next season too.
Kirill Kaprizov: The Wild are well-prepared to open the treasure chest for their best player, and Kaprizov hasn't indicated any desire to leave.
Kyle Connor: He's due for a huge raise from the $7.142-million cap hit he currently carries and will likely become the Jets' highest-paid player if an extension is completed. Connor could easily command a $10-million AAV on the open market.
Artemi Panarin: The Breadman's cashed in once as a free agent and has remained highly productive into his early 30s. Whether the Rangers bounce back this year could determine if they want to re-sign Panarin or begin forming a new core.
Impact adds
Martin Necas: He looked great at times with the Avalanche but was less effective once the playoffs rolled around. Necas will be the prime age of 27 if he goes to market, which could make him too pricey for Colorado.
Adrian Kempe: Kempe's averaged 35 goals per season over the past four years with the Kings and is a dynamic skater who elevates his game in the postseason. His days of being a $5.5-million player are soon to be a memory, whether it's in L.A. or somewhere else.
Alex Tuch: A local product, Tuch's been a great fit in Buffalo over the past four seasons. That said, the Sabres haven't gotten anywhere in that span, and he may want to join a winner on what's likely to be his last long-term contract.
Rasmus Andersson: He's already been labeled a prime trade candidate for the upcoming season, and he'll be the top defenseman available if the Flames let him go another year without a deal. Andersson, a right shot and swift skater, will be 29 next summer and can contribute at all strengths. He will cash in.
Veterans
Alex Ovechkin: Ovechkin has never suggested he'll suit up for any NHL team other than the Capitals, and retirement or another sojourn in the KHL seem far more likely than a shock signing for the all-time goals leader.
Evgeni Malkin: It's unclear if Malkin, who will be 40 next summer, wants to keep playing. He's been fiercely loyal to the Penguins, but maybe he'd welcome a chance at a fourth Stanley Cup if he finds a willing contender.
John Carlson: The Capitals face decisions on a couple of franchise icons next summer. Carlson, 35, is still a 50-point player and has averaged nearly 24 minutes per game over the past 15 seasons. He should attract interest if he moves on.
Mattias Ekholm: He's played a huge role in helping the Oilers become Western Conference contenders, but how much attention can Ekholm demand if a McDavid contract is priority No. 1? Edmonton has a mountain of cap space next summer but only has 10 players signed for 2026-27.
Goalies
Sergei Bobrovsky: Based on everything we've seen since Bill Zito took over the Panthers, there's no reason to expect Bob will leave Florida. In fact, it's reasonable to assume he'll take a huge discount to finish his Hall of Fame career in Sunrise.
Filip Gustavsson: Kaprizov is the Wild's top priority, but Gustavsson will garner plenty of attention too. Not many teams can afford to let their No. 1 netminder walk in free agency, but if it's about money, Gustavsson might be able to find a bigger payday from a desperate team.
Jacob Markstrom: The Devils locked up Jake Allen as their backup for the next five seasons, but a Markstrom decision looms. The 35-year-old dealt with injuries and inconsistency through his first year in New Jersey.
