For the last several offseasons, we’ve assembled this cheat sheet to give some insight into how active NHL teams can be on July 1.

This summer, things have been a little different; a brutal UFA class and a ton of pre-draft trade activity led to a whole lot more cutting, deleting and recalculating than we’d like to admit.

Fun as all that action might have been, 32 teams still have some crucial work ahead.

A reminder of our methodology here: We take a team’s signed players, project what they’ll need to pay the restricted free agents who will make the lineup, subtract those going on long-term injured reserve, and come up with a solid estimate of what they can spend in unrestricted free agency to fill out their rosters.

This is not an exact science. Some teams may play hardball with their restricted free agents and give them all cheap one-year deals; other clubs may go long, long-term, and that would cost more. There are also players on the NHL/AHL bubble to consider; are those guys going to count against the big number or not? In the end, we tried to be as reasonable as possible in coming up with projections, but we’re talking about 130-plus contract forecasts, considered and calculated in a compressed window. They’re not all going to hit the mark.

Still, we’re trying to come as close as possible, with invaluable assists from PuckPedia, CapWages, Evolving-Hockey, AFP Analytics and The Athletic’s staff of beat writers.

Remember, this isn’t a ranking of how strong these teams are, or are set up to become. We’re simply ranking how much cap space they likely will have to improve their rosters, beyond players who are already under team control.

These rosters and numbers are accurate as of 6 a.m. ET on Monday, June 29.

Winners and losers from the 2026 NHL Draft

Scott Wheeler

San Jose Sharks

Current projected salaries: $64.6 million
RFAs estimate: $5.2 million
LTIR candidate: None (Logan Couture will likely land on regular IR)
Dead money deals: Martin Jones buyout ($1.67 million), Marc-Édouard Vlasic buyout ($1.17 million), bonus overage ($814,000), Erik Karlsson retention ($1.5 million), Tomáš Hertl retention ($1.39 million)
Notable unsigned UFAs: John Klingberg, Mario Ferraro, Vincent Desharnais, Nick Leddy, Pavol Regenda, Ryan Reaves
Problem contracts: None
Projected cap space: $34.2 million

Trading William Eklund only added to the Sharks’ seemingly endless pit of cap space this summer. Even after accounting for RFA estimates for Collin Graf and Shakir Mukhamadullin, GM Mike Grier is projected to have over $30 million in cap room. In fact, San Jose has to add about $7 million more in cap commitments for next season just to reach the $76.9 million cap floor.

San Jose is pretty set up front, but the club could definitely use help on the blue line, where they have several expiring veterans. The Sharks can definitely afford to make a splash or two, but they’ll surely also be mindful not to be reckless with the long-term salary they add because core players like Macklin Celebrini, Will Smith, Igor Chernyshov, Sam Dickinson and Yaroslav Askarov will all need new contracts within the next couple of years.

Pittsburgh Penguins

Current projected salaries: $66.2 million
RFAs estimate: $9.6 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Anthony Mantha, Ryan Shea, Stuart Skinner, Connor Clifton, Noel Acciari, Kevin Hayes
Problem contracts: Ryan Graves ($4.5 million)
Projected cap space: $27.6 million

Pittsburgh enters its offseason with some work to do before it even hits the salary floor, though new deals for RFA winger Egor Chinakhov, forward Hendrix Lapierre and goaltender Artūrs Šilovs should get them there. Chinakhov produced like a top-sixer after Pittsburgh acquired him from Columbus, and Šilovs figures to be at least a 1B option moving forward. We’re leaving Graves on the books because he played 22 NHL games last season, but if need be, Pittsburgh could commit even further to burying his contract.

Beyond that, the thought is that Kyle Dubas is gunning for higher-end pieces on the trade market — young NHL players who will help the Penguins both next season and into the post-Sidney Crosby era, whenever that may arrive. That’s what all that cap space is earmarked for, though you can assume there will be another round of buy-low lottery tickets on the roster eventually. Several of those have hit for Dubas over the past few years, with Mantha leading the way.

Anaheim Ducks

Current projected salaries: $78 million
RFAs estimate: $21.5 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Jacob Trouba, Radko Gudas, Jeffrey Viel
Problem contracts: Frank Vatrano ($4.57 million)
Projected cap space: $26 million

The Ducks could end up spending the most new money league-wide (more than $45 million) in the coming weeks, especially with the heavy lifting they need to do on the RFA front in getting Leo Carlsson and Cutter Gauthier signed. The good news is they have plenty of breathing room to get that business done and make more additions.

While they continue to be mentioned in talks for another center, the triple veteran losses on the back end mean they’ll need reinforcements there, too. Mason McTavish’s $7 million cap hit finding a new home in St. Louis is one domino, but this will be a challenging offseason for GM Pat Verbeek to fill all these holes after a promising return to the playoffs in 2025-26.

Vancouver Canucks

Current projected salaries: $82 million
RFAs estimate: $850,000
LTIR candidate: None
Dead money deals: Oliver Ekman-Larsson buyout ($4.77 million), Tyler Myers retention ($1.5 million)
Notable unsigned UFAs: Teddy Blueger, Evander Kane, Curtis Douglas
Problem contracts: Thatcher Demko ($8.5 million), Elias Pettersson ($11.6 million)
Projected cap space: $21.2 million

Entering a rebuild, the Canucks will view their books far differently from years past. For the first time in seemingly forever, the franchise’s priorities are set on building for the long-term future rather than short-term competitiveness.

GM Ryan Johnson signaled a willingness to absorb bad contracts in exchange for draft picks — something that Vancouver has never really done before.

However, the organization also sounds a bit budget-conscious and is highly unlikely to spend near the cap, as Johnson said they’d need to subtract players before considering taking on other teams’ inefficient deals. Expect the club to seriously consider offers for veterans signed to long-term contracts such as Jake DeBrusk and Elias Pettersson.

Seattle Kraken

Current projected salaries: $83.1 million
RFAs estimate: $3.5 million
LTIR candidate: None
Dead money deals: Joe Veleno buyout ($379,167)
Notable unsigned UFAs: Jaden Schwartz, Eeli Tovanen, Jamie Oleksiak
Problem contracts: Chandler Stephenson ($6.25 million)
Projected cap space: $20.9 million

The pressure is on Kraken management after some tough seasons in no man’s land in the Pacific Division standings, but how that manifests this offseason is difficult to forecast. They have wanted to add a difference-maker up front for years (and heavily pursued Artemi Panarin at the deadline and Jason Robertson last week), but the reality is Seattle hasn’t yet become a destination for elite free agents. And even if it was, there isn’t one available that fills that need this offseason.

It remains to be seen whether GM Jason Botterill is able to flip some of the organization’s prospect and pick capital for more ready-made solutions or if patience wins the day. Attempting to rush their way out of their current playoff-less predicament by adding more questionable veteran salary feels like it will just set them back more, but they also don’t want to leave acres of cap room sitting unused when the organization badly wants to make some steps forward in 2026-27.

No matter what they do, their window to contend remains a ways off. But they do have kids coming, so the question is: can they afford to wait? Finding savvy additions on the younger side via trade who can grow with their youth movement and turning over vets on expiring deals like Philipp Grubauer feels like a must.

Chicago Blackhawks

Current projected salaries: $67.7 million
RFAs estimate: $15.8 million
LTIR candidate: None (Ryan Ellis will likely end up on regular IR)
Dead money deals: Seth Jones retention ($2.5 million), T.J. Brodie ($258,000)
Notable unsigned UFAs: Ilya Mikheyev, Sam Lafferty, Matt Grzelcyk
Problem contracts: None
Projected cap space: $20.5 million

With the acquisitions of Bowen Byram ($6.25 million) and Jordan Greenway ($4 million), and after accounting for Connor Bedard’s extension this summer as an RFA, the Blackhawks will have a much easier time reaching the salary cap floor compared to previous summers. And because they shipped out André Burakovsky, there’s still plenty of money left over to go shopping.

Bedard’s next contract will be very fascinating, not just in terms of AAV but also the term. For this exercise, we plugged in a maximum eight-year deal with a $14 million cap hit, but truthfully, this contract isn’t easy to predict.

Adding a top-flight winger for Bedard to play with is the one clear need for Chicago ahead of next season.

Detroit Red Wings

Current projected salaries: $75 million
RFAs estimate: $8.8 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Patrick Kane, David Perron, James van Riemsdyk, Cam Talbot, Travis Hamonic
Problem contracts: J.T. Compher ($5.1 million), Michael Rasmussen ($3.2 million)
Projected cap space: $20.2 million

Everything hinges on how GM Steve Yzerman handles Dylan Larkin’s trade request and how that shapes the franchise’s future direction. Will they remain aggressive to stay competitive and try to end the longest current playoff drought in the NHL, or do they accept taking a step back and retool around Moritz Seider, Lucas Raymond and Simon Edvinsson?

The latter sounds like the smarter approach, considering how stacked the Atlantic Division is and that the Red Wings were searching to land top-six center help even before Larkin asked out.

Yzerman does have plenty of cap room to play with — Detroit is projected to have a tick over $20 million even after it presumably re-signs RFA Edvinsson to a lucrative long-term deal. And, of course, that doesn’t include the strong likelihood that Larkin’s $8.7 million AAV will be on another team’s books by the start of next season.

Nashville Predators

Current projected salaries: $84.1 million
RFAs estimate: $1.5 million
LTIR candidate: None
Dead money deals: Kyle Turris buyout ($2 million), Matt Duchene buyout ($1.55 million)
Notable unsigned UFAs: Erik Haula, Tyson Jost
Problem contracts: None
Projected cap space: $18.4 million

New president of hockey operations Chris MacFarland is taking over a team composed primarily of aging players on iffy contracts. He’s also got an interesting amount of cap space to work with and, most crucially, a blank slate to reshape the roster according to his vision. Part of that vision was acquiring bottom-six center Jack Drury from his old team in Colorado and signing him to a $4.5 million contract extension. The only RFA of note is defenseman Justin Barron.

MacFarland’s arrival puts several different scenarios on the table, including one in which name-brand talents like Roman Josi, Filip Forsberg, Ryan O’Reilly, Jonathan Marchessault and Juuse Saros make their way to the trade market. It makes more sense for MacFarland to subtract than to add in his first offseason on the job.

Philadelphia Flyers

Current projected salaries: $71.5 million
RFAs estimate: $15 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Luke Glendening, Noah Juulsen, Carl Grundström, Rodrigo Abols
Problem contracts: Sean Couturier ($7.75 million)
Projected cap space: $17.5 million

One of Daniel Brière’s primary tasks this summer is to figure out deals for RFAs Trevor Zegras and Jamie Drysdale. Both players, particularly Zegras, emerged as potential long-term pieces on a team that wound up in the second round of the playoffs, and both make sense as mid-term extension candidates. We have Philly buying some free-agency years but not quite going all-in on either just yet.

There’s also some work to be done along the fourth line, but Brière’s focus still seems to be of the long-term variety. He’s certainly keeping his eyes peeled, particularly on down-the-middle options, but there doesn’t seem to be any desire to throw unwise money at a weak free-agency class. There’s work left to do, but the Flyers are in a good spot with a nice amount of flexibility.

Utah Mammoth

Current projected salaries: $83 million
RFAs estimate: $5 million
LTIR candidate: None
Dead money deals: Oliver Ekman-Larsson buyout ($650,000)
Notable unsigned UFAs: Alexander Kerfoot, Kailer Yamamoto, Ian Cole, Vitek Vanecek, Kevin Stenlund
Problem contracts: None
Projected cap space: $16 million

The Mammoth took a potentially relevant UFA off the market in March when they signed Nick Schmaltz to an eight-year contract with an $8 million AAV. Schmaltz is a reliably productive player, but he’s also 30 years old. We’ll see how that one ages. He joins Logan Cooley, Dylan Guenther, Mikhail Sergachev and MacKenzie Weegar as part of a core locked up through at least 2031. Next up would be Clayton Keller, who has two years remaining on his deal. Out is JJ Peterka, whom Utah sent to Boston after one mediocre season.

As far as this offseason is concerned, Utah has the flexibility necessary to chase a big-ticket item should they desire, but some of that hinges on what they do with RFA Barrett Hayton. He scored 20 goals in 2024-25 but also hasn’t quite emerged as a reliable middle-six forward for a team with real aspirations. A mid-term bridge deal with a $5 million-ish AAV would make sense, unless Utah needs more cap space immediately.

Toronto Maple Leafs

Current projected salaries: $88.8 million
RFAs estimate: $8.5 million
LTIR candidate: Max Domi ($3.75 million)
Dead money deals: None
Notable unsigned UFAs: Troy Stecher, Calle Järnkrok
Problem contracts: Morgan Rielly ($7.5 million), Dakota Joshua ($3.25 million)
Projected cap space: $15.2 million

Few GMs have been as active on trade calls the past couple of weeks as John Chayka, so consider this a very unfinished portrait of where the Leafs are at. With Morgan Rielly likely being shuttled out at some point, Max Domi headed to LTIR and the uncertain status of RFAs such as Nick Robertson, it’s possible the Leafs could have as much as another $14 million or so to work with by July 1.

Expect some more big swings as they have needs down the middle and on the back end after moving Brandon Carlo on the weekend, not to mention a rumored push for another goaltender. We don’t yet know if the Leafs are about to return to respectability — we’ll see how they use all of this cap flexibility — but they’ve certainly returned to being very interesting.

Washington Capitals

Current projected salaries: $89.7 million
RFAs estimate: None
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Alex Ovechkin, Brandon Duhaime, Trevor van Riemsdyk, Sonny Milano
Problem contracts: None
Projected cap space: $14.3 million

Capitals GM Chris Patrick has said, plenty of times, that the goal is to compete for championships in their current window, period, and that they planned to add pieces regardless of whether they have a certain 40-year-old left winger on the roster for 2026-27. Adding Alex Tuch and Jordan Kyrou … yep, that qualifies.

Trading Hendrix Lapierre, their last remaining relevant RFA, also helped the Capitals open up a bit more cash for the rest of their offseason moves. One of those figures to be adding some help at right defense while Rasmus Sandin recovers from ACL surgery. The other is, of course, Alex Ovechkin-related. His decision remains unclear, but Washington — even with Kyrou and Tuch on the books — will have the cap space to accommodate him.

Winnipeg Jets

Current projected salaries: $83.9 million
RFAs estimate: $6 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Gustav Nyquist, Ville Heinola, Colin Miller, Jacob Bryson, Eric Comrie
Problem contracts: None
Projected cap space: $14.1 million

Winnipeg’s only RFA is a fairly important one; Murat Ates has already broken down the important points of Cole Perfetti’s next contract, so we won’t rehash that other than to say that Perfetti dealt with an injury for most of last season and once again seems like a decent breakout candidate. Winnipeg seems to want him long-term, and $6 million a year seems like a solid number for our exercise.

The elephant in the room, of course, is the future of franchise goaltender Connor Hellebuyck. The Jets’ choice might be to either meaningfully improve to his liking or send him elsewhere, and the former will take more than simply signing $14 million worth of free agents.

Tampa Bay Lightning

Current projected salaries: $90.8 million
RFAs estimate: None
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Corey Perry, Oliver Bjorkstrand, Mitchell Chaffee
Problem contracts: None
Projected cap space: $13.2 million

On paper, it looks like the Lightning could have themselves a suspiciously straightforward offseason. They don’t have any major RFAs to worry about, their best players — outside of Nikita Kucherov, who will be eligible to sign an extension — are locked up long-term, and they have a reasonable amount of cap space. Replacing Darren Raddysh on the blue line won’t be easy, but it also shouldn’t be a task that requires roster surgery.

Of course, since this is Julien BriseBois we’re talking about, you can expect BriseBois to leave everything on the table.

Vegas Golden Knights

Current projected salaries: $91.5 million
RFAs estimate: Minimal
LTIR candidate: Alex Pietrangelo ($8.8 million)
Dead money deals: None
Notable unsigned UFAs: Rasmus Andersson, Reilly Smith, Jeremy Lauzon, Colton Sissons
Problem contracts: Adin Hill (6.25 million), Keegan Kolesar ($2.5 million)
Projected cap space: $12.5 million

It’s never, ever dull on the Golden Knights’ cap sheet. With only 16 players signed after shipping out Pavel Dorofeyev to the Rangers at the draft, Vegas has enough left over to get their planned UFA deal done with Andersson and make another addition or two.

The big question is: Could they punt another veteran to make even more noise this offseason? Hill’s name is one obvious name out there but so too is Tomáš Hertl. His no-trade clause allows him to be dealt to just three teams, so that won’t be easy business.

If the Golden Knights can move both, suddenly they add another $13 million in cap space and become players in the market in a bigger way. And they’re never afraid to be aggressive.

Columbus Blue Jackets

Current projected salaries: $91.9 million
RFAs estimate: $16 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Mason Marchment, Boone Jenner, Erik Gudbranson
Problem contracts: Elvis Merzlikins ($5.4 million)
Projected cap space: $12.1 million

Columbus has some of the heaviest lifting to do in the RFA department in the NHL this offseason, with all three of Adam Fantilli, Jet Greaves and Cole Sillinger coming due for big raises. Truth be told, our $16 million projection might be on the low side, depending on whether they decide to go long-term with all of them.

Even so, the Blue Jackets will still have some extra cash to work with, which is a good thing given losing Marchment (who was nearly a point-a-game player for CBJ) and Jenner will create holes to fill up front. Getting Valeri Nichushkin helps, but adding another difference-maker up front could put them back into the postseason, especially with another year of growth from their promising under-25s. (Assuming, of course, that MVP Zach Werenski isn’t going anywhere.)

Carolina Hurricanes

Current projected salaries: $92.2 million
RFAs estimate: $4 million
LTIR candidate: None
Dead money deals: None
Notable unsigned UFAs: Frederik Andersen
Problem contracts: Jesperi Kotkaniemi ($4.82 million)
Projected cap space: $11.8 million

The champs have a surprisingly clean cap sheet, with ample room to add to what appears like it could be a very similar lineup in 2026-27. We haven’t included Kotkaniemi on the roster or as a buyout (which would include an $850,000 cap hit next season), as the Canes appear likely to trade his entire salary in the coming days.

If Andersen doesn’t return, that potentially creates one hole, although Brandon Bussi and Pyotr Kochetkov are under contract so that decision doesn’t need to be made in the offseason. Alexander Nikishin’s RFA deal could get a bit thorny — and we’ve penciled him in for a bridge deal — which is part of why his name is out there in trade talks.

Don’t be surprised, however, to see Carolina in the mix on the big trade targets (like Connor Hellebuyck) given their flexibility here. Do they revisit the search for another center or look for an upgrade elsewhere?

Calgary Flames

Current projected salaries: $83.5 million
RFAs estimate: $10.2 million
LTIR candidate: None
Dead money deals: Nazem Kadri retention ($1.6 million)
Notable unsigned UFAs: Jake Bean, Victor Olofsson
Problem contracts: Jonathan Huberdeau ($10.5 million)
Projected cap space: $10.3 million

It’s unlikely the Flames have a bigger move up their sleeve than the trade they made on June 23, acquiring young defenseman Šimon Nemec and winger Maxim Tsyplakov from New Jersey for Vegas’ first-round pick in 2027, Colorado’s first-round pick in 2028, the New York Rangers’ second-round pick in 2026 and defenseman Étienne Morin.

The primary question for the rest of their offseason — other than whether they’ll overpay for a free agent as part of their yearly quest to scrape into the playoffs — is Nemec’s next contract. Evolving-Hockey projects him to sign for six years at about $6.2 million annually, but the deal could easily be longer and carry a larger AAV, which is what we’re going with here. Calgary has space to make other moves, but none are likely to be important to its future.

Los Angeles Kings

Current projected salaries: $93.1 million
RFAs estimate: None
LTIR candidate: None
Dead money deals: Mike Richards buyout ($600,000)
Notable unsigned UFAs: Scott Laughton, Andrei Kuzmenko, Mathieu Joseph, Jeff Malott, Jacob Moverare
Problem contracts: Cody Ceci ($4.5 million)
Projected cap space: $9.8 million

With big new contracts for Artemi Panarin, Adrian Kempe and Brandt Clarke kicking in, the Kings have less cap flexibility to make a big splash than you might think. There’s room to add one substantial difference-maker, but anything beyond that would require them shipping out some salary.

GM Ken Holland needs to bolster the forward group, specifically at center following Anze Kopitar’s retirement. He’ll need to be intentional, as his remaining cap flexibility and trade resources are both modest.

New York Rangers

Current projected salaries: $89.3 million
RFAs estimate: $7.1 million
LTIR candidate: None
Dead money deals: Minimal
Notable unsigned UFAs: Jonny Brodzinski, Conor Sheary
Problem contracts: J.T. Miller ($8 million)
Projected cap space: $7.6 million

This is the first summer that the Rangers have had meaningful cap flexibility in a while and GM Chris Drury wasted no time capitalizing on it by making a splashy acquisition for Pavel Dorofeyev, who immediately signed a lucrative seven-year, $11 million AAV contract.

For now, New York has dipped below $8 million in projected cap room, but that space could grow. Vincent Trocheck, who makes $5.625 million against the cap, is still on the trade block and our projection includes an RFA estimate for Braden Schneider, who could be trade bait as well.

The Rangers are clearly attempting to be competitive as quickly as possible around Igor Shesterkin and Adam Fox. It’ll be fascinating to see if Drury has more tricks up his sleeve.

Ottawa Senators

Current projected salaries: $94.9 million
RFAs estimate: $1.6 million
LTIR candidate: None
Dead money deals: Joonas Korpisalo retention ($1 million), Colin White buyout ($875,000)
Notable unsigned UFAs: Claude Giroux, Nick Jensen, James Reimer, Lars Eller, Nick Cousins
Problem contracts: None
Projected cap space: $7.5 million

The Senators have eaten into a large chunk of the cap room they had following the Brady Tkachuk trade by acquiring William Eklund and André Burakovsky, in addition to re-signing RFA Jordan Spence to a four-year extension.

Ottawa could still probably use one more top-nine forward, whether it be re-signing UFA Claude Giroux or another outside acquisition.

It’ll also be fascinating to see what the club does in goal behind Linus Ullmark. The Sens desperately need a reliable backup, but RFA Samuel Ersson, who they acquired from the Leafs, may be more sensible as a No. 3 considering how badly he struggled in Philly this past season.

The Senators still have plenty of trade ammo in the form of draft picks, but their cap space is dwindling.

St. Louis Blues

Current projected salaries: $88.1 million
RFAs estimate: $8.7 million
LTIR candidate: Torey Krug ($6.5 million)
Dead money deals: None
Notable unsigned UFAs: Oskar Sundqvist, Justin Holl
Problem contracts: None
Projected cap space: $7.2 million

St. Louis’ primary return from Washington in the Jordan Kyrou deal was forward Connor McMichael, who is a pending RFA. Here, we’re assuming he signs a deal with an AAV in the $6.5 million range.

Even with McMichael in the picture, the Blues found themselves in a decent position to add salary at the draft — and add salary they did, in the form of former Ducks forward Mason McTavish, who will look to regain some of his top-prospect sheen in St. Louis. GM Alex Steen can also go over the cap if he wants to make any more major moves, since Krug’s career is functionally over, but that’s far from a given.

New Jersey Devils

Current projected salaries: $96.9 million
RFAs estimate: $4.5 million
LTIR candidate: None
Dead money deals: Bonus overage ($1.25 million)
Notable unsigned UFAs: None
Problem contracts: Timo Meier ($8.8 million), Dougie Hamilton ($9 million)
Projected cap space: $7.1 million

After shipping defenseman Šimon Nemec to Calgary and acquiring Declan Chisholm from Washington, new Devils GM Sunny Mehta has most of a full roster signed and a lot of underwhelming contracts to parse through as he attempts to get New Jersey back on a contending track. Where to start is a fair question.

Their biggest need is likely another top-six forward, as they dipped to 27th in goals per game last season. But they could also use better bottom-six forward depth and either better play from netminder Jacob Markstrom or a replacement in goal if they can find him a new home. Mehta could be busy.

Buffalo Sabres

Current projected salaries: $97.2 million
RFAs estimate: $7 million
LTIR candidate: None
Dead money deals: Jeff Skinner buyout ($6.44 million)
Notable unsigned UFAs: Logan Stanley, Luke Schenn, Beck Malenstyn
Problem contracts: None
Projected cap space: $6.8 million

With the departure of Bowen Byram, Alex Tuch and Michael Kesselring already, GM Jarmo Kekäläinen has some flexibility to work with but also holes to fill. The good news is Buffalo has some interesting young players coming that will be part of the solution.

Adding another top-four defenseman was addressed with the underrated deal for Olen Zellweger, but additional depth at center could be important depending on how ready the organization feels prospect Konsta Helenius is to step in right away down the middle. Overall, however, Buffalo appears well-situated to survive its losses.

Boston Bruins

Current projected salaries: $96.3 million
RFAs estimate: $1.8 million
LTIR candidate: None
Dead money deals: Brandon Carlo retention ($650,000)
Notable unsigned UFAs: Viktor Arvidsson, Andrew Peeke
Problem contracts: Elias Lindholm ($7.75 million)
Projected cap space: $5.9 million

Boston has a pair of tricky RFAs in Matthew Poitras and Jordan Harris; the former was once the Bruins’ top prospect but played just three NHL games in 2025-26, and the latter was a buy-low lottery ticket who dealt with injuries for most of the season. We’re assuming both return to the NHL roster in some capacity, but that’s an educated guess.

It could also make sense to bring back Arvidsson, who scored 25 goals last season and fit with David Pastrnak, but that’s probably less likely after their draft-night trade for JJ Peterka, who’s a worthwhile addition to the top six.

Even with Peterka in the picture, though, the Bruins are in a tough spot — their best players are in their primes, but they’re still short on contender-level center depth and have a hole at right defense that will be difficult to fill outside of another major trade.

Colorado Avalanche

Current projected salaries: $98.4 million
RFAs estimate: Minimal
LTIR candidate: None
Dead money deals: Bonus overage ($2.29 million)
Notable unsigned UFAs: Nick Blankenburg
Problem contracts: None
Projected cap space: $5.6 million

After flipping Valeri Nichushkin to Columbus and Jack Drury to Nashville, plus re-signing Brett Kulak and Brent Burns, the Avs could simply look to mostly run back their powerhouse 2025-26 roster, as almost everyone is signed.

With the money they’ve freed up, however, Colorado can now be players for at least one medium-sized fish, if they so choose. Nichushkin’s $6.1 million salary could be redeployed toward refreshing the forward lineup a little. Cale Makar’s eventual massive new extension looms large for 2027, too, so they’ll need to keep that in mind with every move involving anyone with term going forward.

Edmonton Oilers

Current projected salaries: $98.6 million
RFAs estimate: $2 million
LTIR candidate: None
Dead money deals: Jack Campbell buyout ($2.6 million), bonus overage ($250,000)
Notable unsigned UFAs: Adam Henrique, Jack Roslovic, Kasperi Kapanen, Connor Ingram
Problem contracts: Tristan Jarry ($5.37 million)
Projected cap space: $5.4 million

GM Stan Bowman has been aggressively locking in his pending UFAs, with big new deals for Jason Dickinson and Connor Murphy eating up a chunk of their cap room. Things look pretty tight at this point, but the big domino to drop is what happens with Darnell Nurse and his behemoth $9.25 million cap hit.

Once that gets moved, there’s flexibility here, but how much of it has to go back to replacing all those minutes Nurse logged? Or does some of the cash get redistributed to the crease, where Jarry can’t be the only option?

The Oilers also have some holes up front to fill given their UFA list. Overall, they’re likely to be one of the league’s busier clubs — and fascinating to watch once the Mike Babcock experiment begins in the fall.

New York Islanders

Current projected salaries: $97.8 million
RFAs estimate: $945,000
LTIR candidate: None
Dead money deals: Bonus overage ($3.5 million)
Notable unsigned UFAs: Anders Lee, David Rittich, Carson Soucy, Adam Boqvist
Problem contracts: Pierre Engvall ($3 million), Onrej Palát ($6 million), Anthony Duclair ($3.5 million), Scott Mayfield ($3.5 million)
Projected cap space: $5.3 million

The Islanders should be in a strong position to build around Matthew Schaefer, Ilya Sorokin, Bo Horvat and Mathew Barzal, but the team’s cap sheet is handcuffed by several overpaid veterans. A lot of these inefficient deals, such as Engvall, Duclair and Mayfield, are holdovers from the Lou Lamoriello era, but Mathieu Darche didn’t do himself any favors with the sizable contracts he took on at this year’s trade deadline.

Ondrej Palát’s $6 million cap hit through next season is an inconvenience, as he mustered only 1 goal in 29 games down the stretch with the Isles. Brayden Schenn, 34, is a useful player, but a $6.5 million AAV is steep relative to his contributions, especially since the club also opted to re-sign Jean-Gabriel Pageau.

All of this leaves New York with just over $5 million in projected cap room and multiple holes to fill. There’s a decent chance their cap constraints could also cost them their captain Anders Lee.

New York should explore avenues to create more cap room, whether via a buyout (Palat and/or Engvall would be logical candidates) or a trade.

Florida Panthers

Current projected salaries: $98.1 million
RFAs estimate: $1.1 million
LTIR candidate: None
Dead money deals: Bonus overage ($150,000)
Notable unsigned UFAs: Sergei Bobrovsky, Daniil Tarasov, A.J. Greer, Luke Kunin, Noah Gregor, Nolan Foote
Problem contracts: None
Projected cap space: $4.8 million

After the Brady Tkachuk blockbuster, the biggest remaining question for the Panthers is in goal. Florida’s forward and defense groups are nearly set in stone, but the club doesn’t have a single goaltender signed for next season and a shade under $5 million in cap room to work with.

However, Florida could trade Evan Rodrigues ($3.08 million cap hit and no trade protection) and/or Jesper Boqvist ($1.5 million) to create more wiggle room. If both were shipped out, they’d have approximately $9.4 million to play with, which should be sufficient money to build a competent goaltending tandem and fill out a couple of near-league-minimum depth spots.

Minnesota Wild

Current projected salaries: $94.6 million
RFAs estimate: $4.7 million
LTIR candidate: None
Dead money deals: Zach Parise buyout ($833,000), Ryan Suter ($833,000)
Notable unsigned UFAs: Mats Zuccarello, Vladimir Tarasenko, Marcus Johansson, Nick Foligno, Zach Bogosian, Jeff Petry
Problem contracts: None
Projected cap space: $4.7 million

With Kirill Kaprizov’s $17 million AAV contract kicking in this season, the Wild will have to be thoughtful and creative with their cap commitments. After RFA estimates for Bobby Brink and Daemon Hunt get plugged in, Minnesota is left with just under $5 million in projected cap space. That’d be plenty of space if the remaining work was to simply fill out a few depth spots, but GM Bill Guerin will surely be targeting a top-six center, and that’s where the cap picture gets tight.

The good news is that there are straightforward ways to free up more cap room if necessary. Ryan Hartman ($4 million), Yakov Trenin ($3.5 million), Nico Sturm ($2 million) and Jake Middleton ($4.35 million) are among the contracts Minnesota could consider trading to free up more money.

Montreal Canadiens

Current projected salaries: $100.3 million
RFAs estimate: $7.3 million
LTIR candidate: None
Dead money deals: Bonus overage ($1.9 million)
Notable unsigned UFAs: Patrik Laine
Problem contracts: Brendan Gallagher ($6.5 million), Josh Anderson ($5.5 million)
Projected cap space: $3.7 million

After a trip to the final four this spring, the Canadiens appear right up against the cap, but that’s somewhat misleading. Finding a new home for Gallagher will give Montreal some additional breathing room, and the Canadiens could also clear third goaltender Sam Montembeault’s $3.15 million cap hit. (A buyout alone frees up $2.67 million on Gallagher’s deal in 2026-27.)

GM Kent Hughes’ main pursuit continues to be another center to play high up his lineup behind Nick Suzuki, and the Canadiens are in the mix for Vincent Trocheck, among other big-name targets. They are also in the mix for top-six wingers.

As one of the youngest teams in the league, the Canadiens should have some internal growth and prospects coming next season, so their lack of space to take more than the one swing isn’t a real concern.

Dallas Stars

Current projected salaries: $94.7 million
RFAs estimate: $17 million
LTIR candidate: None
Dead money deals: Bonus overage ($2.08 million)
Notable unsigned UFAs: Jamie Benn, Michael Bunting, Nathan Bastian, Alex Petrovic, Adam Erne
Problem contracts: Tyler Seguin ($9.85 million), Ilya Lyubushkin ($3.25 million)
Projected cap space: Minus-$7.7 million

This entire cap puzzle comes down to what the Stars decide to do with RFA Jason Robertson. Robertson is in line to command a massive ticket with a cap hit that could land in the low teens. He’s worth that money after coming off a 45-goal, 96-point campaign, but the Stars already have seven players who make more than $8 million against the cap for next season and may prefer to trade him for an enormous package.

Mavrik Bourque is also an RFA this summer, and the Stars need to be careful as he could be a prime offer-sheet target.

Fitting both Robertson and Bourque’s next deals on the roster would require serious cap dumps. Lyubushkin, Sam Steel and Radek Faksa would be among the trade candidates in that scenario, but that alone still wouldn’t be enough. Dallas could keep Robertson if it decided to trade Bourque on top of those other contract dumps, but the bigger point is that the Stars are caught in the most intricate cap crunch of any team this summer.