NHL free agency winners and losers this year
The 2025 NHL free agency period delivered some major surprises for hockey fans. Some teams made brilliant moves that set them up for playoff success, while others completely botched their offseason. Understanding the NHL free agency winners and losers tells you everything about which teams are ready to compete next season. Let's break down who nailed it and who dropped the ball.
Teams that nailed free agency
The Florida Panthers dominated by keeping their Stanley Cup-winning core together. They retained Brad Marchand, Sam Bennett, and Aaron Ekblad despite salary cap pressure. That continuity matters more than any free agent signing ever could (seriously, it's rare to see this kind of stability).
The Carolina Hurricanes went aggressive. They signed defenseman K'André Miller to an 8-year, $60 million deal and landed winger Nikolaj Ehlers with a 6-year, $51 million contract. Those moves transform their roster immediately.
The Vegas Golden Knights pulled off the trade of the offseason by acquiring Mitch Marner from Toronto Adding Marner to their core with Jack Eichel and Mark Stone makes them serious Stanley Cup threats.
The Columbus Blue Jackets used their cap space wisely, signing defenseman Ivan Provorov to a 7-year, $59.5 million deal. Provorov gives them a reliable cornerstone for their rebuilding plan.
The teams that missed the mark
The Winnipeg Jets suffered major losses. They lost Nikolaj Ehlers, Brandon Tanev, and Mason Appleton, which weakens their power play and overall depth. Losing those players after having the league's highest point total over two seasons is brutal.
The Los Angeles Kings had cap space but wasted it. Signing Corey Perry and Anton Forsberg doesn't fix their real problems. They still can't get past the first round, and their offseason doesn't change that.
The Edmonton Oilers let key role players walk. They lost Connor Brown and Corey Perry without adding meaningful replacements. Re-signing Evan Bouchard and Trent Frederic isn't enough to compete in the tough Western Conference.
The Detroit Red Wings simply lack the talent to battle in the Atlantic Division. Their offseason moves didn't adress their core weaknesses.
What it all means for next season
The $104 million salary cap increase gave teams more flexibility, but they spent it diferently. Florida prioritized keeping winners together. Winnipeg couldn't hold onto their stars. Vegas made one huge splash. Los Angeles stood still.
The Panthers and Hurricanes are positioned to compete for the Cup. Vegas belongs in that conversation too. Winnipeg and Los Angeles face real questions about their playoff futures.
Watch how these moves play out during the season. Roster construction matters, but sometimes you don't know if a signing worked until October rolls around. The winners made smart bets on their players and their systems. The losers hoped free agents would magically fix their problems. Time will reveal who got it right.
This material is AI-assisted. See something that doesn't look right? Contact zoneonecomplex at [email protected].