NHL Moves: 2025 Free Agent Market Analysis
Following the Florida Panthers’ victory in the Stanley Cup Final for the second consecutive year, and the celebrations that followed, the NHL offseason has begun with a series of roster moves.
The 2025 NHL draft saw 224 prospects find new teams, and the weekend included trades involving Noah Dobson, Charlie Coyle, and John Gibson. On Monday, a series of re-signings and the transfer of Mitch Marner moved several important players from the free agent market.
Below, you will find an updated tracking of free agency for 2025, with a list of each player signed, including the average annual value of the contract in most cases.
The most recent agreements are at the top, indicated by date.Draft Summary:
- All draft picks
- Grades for all 32 teams
- Winners and losers
July 2nd
The Jets, looking to bolster their roster, added experienced winger Gustav Nyquist, who agreed to a one-year contract for $3.25 million.
Defenseman Alexander Alexeyev will switch sides in the Capitals-Penguins rivalry. He will play in Pittsburgh next season thanks to a one-year, $775,000 deal.
The “Pius Suter Derby” has ended. The veteran forward will play for the Blues, signing a two-year contract with an average annual value of 4 million dollars.
The big addition for the Golden Knights this offseason was Mitch Marner, but they are also making moves to strengthen their roster, including signing defenseman Kaedan Korczak to a four-year contract worth $3.25 million average annual value.
Mason Appleton will play for the Red Wings, after signing a two-year contract worth $2.9 million average annual value.
The Devils re-signed Cody Glass to a two-year contract with an average annual value of $2.5 million.
Curtis Lazar returns to Canada, agreeing to a one-year, $775,000 contract with the Oilers.
Veteran winger Anthony Mantha will play for the Penguins, signing a one-year contract for $2.5 million.
July 1st
Andrew Mangiapane returns to Canada, signing a two-year deal worth $3.6 million average annual value with the Oilers.
Forward Justin Brazeau has chosen the Penguins as his next NHL destination, signing a two-year contract worth an average annual value of $1.5 million.
The Devils continue to add depth to their forward group, adding veteran winger Evgenii Dadonov on a one-year, $1 million deal.
The wave of goalie signings continues. The Mammoth are the latest team to add a goalie, signing Stanley Cup champion Vitek Vanecek to a one-year, $1.5 million deal.
Offensive defenseman John Klingberg is heading to San Jose, agreeing to a one-year, $4 million contract with the Sharks.
One of the most important free agents, veteran forward Mikael Granlund, has signed with the Ducks in a three-year deal.
Veteran forward Lars Eller has chosen the Senators as his next team, agreeing to a one-year contract for $1.25 million.
The Penguins have extended their business relationships with Philip Tomasino (one year, $1.75 million) and Connor Dewar (one year, $1.1 million).
As part of the effort to regain the title of the best hockey team in Florida, the Lightning have signed Pontus Holmberg to a two-year contract worth $1.55 million average annual value.
The Wild have added Nico Sturm. The former Panthers player has signed a two-year contract and $2 million average annual value.
The Sabres have entered the conversation. The club’s first big deal of the day is the signing of goaltender Alex Lyon to a two-year contract with an average annual value of $1.5 million.
The Kraken add depth in the goal, adding former Stanley Cup champion Matt Murray with a one-year contract for $1 million.
The Islanders had a great draft weekend, and continue the momentum in free agency, adding veteran forward Jonathan Drouin with a two-year, $4 million average annual value deal.
The Stars are on the board. Hours after announcing the official hiring of Glen Gulutzan as the club’s new head coach, the Stars have re-signed forward Radek Faksa to a two-year contract worth an average annual value of $3 million.
Previously, the Kings lost defenseman Vladislav Gavrikov to the Rangers. To help fill that void on the blue line, they signed Cody Ceci (four years, $4.5 million average annual value) and Brian Dumoulin (three years, $4 million average annual value). They also signed goaltender Anton Forsberg for two years, $2.25 million average annual value.
Defenseman Nick Perbix is heading to Nashville, agreeing to a two-year deal worth $2.75 million average annual value with the Predators.
The Panthers have once again turned to the veteran defenseman pool, signing Jeff Petry to a one-year, $775,000 contract.
Defenseman Nate Schmidt joins the Mammoth with a three-year contract and an average annual value of $3.5 million.
James van Riemsdyk’s NHL career will continue, as he has agreed to terms with the Red Wings on a one-year, $1 million deal. Separately, the Wings added Jacob Bernard-Docker on a one-year, $875,000 contract.
The Bruins add depth, agreeing to terms with Sean Kuraly on a two-year contract and $1.85 million average annual value.
Another key member of the champion Panthers team returns. Veteran forward Tomas Nosek has agreed to a one-year contract.
After completing the 2024-25 season with the Jets, veteran forward Brandon Tanev stays in the Central Division, but heads to Utah with a three-year deal and an average annual value of $2.5 million.
Another goalie comes off the market! Kaapo Kahkonen has agreed to terms with the Canadiens on a one-year deal worth $1.15 million. In a separate deal, the club also signed forward Sammy Blais.
The 2020 Hobey Baker Award winner as the best NCAA men’s hockey player, defenseman Scott Perunovich, has signed a one-year contract with the Mammoth.
Needing depth in the backup goaltending, the Islanders agreed to terms with “Big Save” Dave Rittich on a one-year deal.
The versatile forward Kailer Yamamoto is the latest player added by the Mammoth, with a one-year contract for $775,000.
Veteran center Nick Bjugstad has made his decision: he joins the Blues with a two-year contract.
Veteran defenseman Ryan Lindgren finished the 2024-25 season with the Avalanche, and will head to the Northwest for his next NHL home, agreeing to terms on a four-year, $4.5 million average annual value contract.
The Senators have yet to attract any new free agents to the club, but their re-signing game remains strong. After re-signing Claude Giroux, the Sens also continued their business relationship with Nick Cousins through a one-year, $825,000 contract.
Veteran forward Tanner Jeannot has agreed to terms on a five-year contract with the Bruins, with an average annual value of $3.4 million.
Winger Michael Pezzetta goes from Montreal to Toronto with a two-year contract and an average annual value of $787,500.
Connor Brown impressed many viewers with his play during the Oilers’ run to the Stanley Cup Final. Now, he will bring that energy to the Devils, who have signed him to a four-year contract worth $3 million annually on average.
The defense market shrinks by a key player, as the Rangers have agreed to terms with Vladislav Gavrikov on a seven-year contract and $7 million average annual value.
One of the main goaltending options available is off the market, with Dan Vladar joining the Flyers via a two-year contract and $3.35 million average annual value.
Veteran forward Corey Perry switches sides in the Oilers-Kings rivalry, agreeing to terms on a one-year deal with a salary and bonuses worth $3.5 million. Separately, the Kings also signed veteran forward Joel Armia to a two-year deal with an average annual value of $2.5 million.
One of the best available free agents has made a decision… and will re-sign. Brock Boeser returns to the Canucks via a seven-year contract and an average annual value of $7.3 million.
Parker Kelly will continue his career with the Avalanche, agreeing to terms on a four-year contract with an average annual value of $1.7 million.
Veteran forward Colin Blackwell will return to the Stars, agreeing to terms on a two-year deal with an average annual value of $775,000.
Christian Dvorak has left the Canadiens, agreeing to a one-year, $5.4 million contract with the Flyers.
Noah Juulsen, welcome to Philadelphia! The Flyers have signed the 28-year-old defenseman to a one-year, $900,000 deal.
Defenseman Ryan Johnson is staying with the Sabres, agreeing to terms on a three-year deal with an average annual value of $775,000.
The top-ranked goaltender scheduled to hit free agency this offseason won’t be hitting the market; Jake Allen is back with the Devils via a five-year contract with an average annual value of $1.8 million.
Veteran offensive defenseman Tony DeAngelo will be back with the Islanders for 2025-26, agreeing to terms on a one-year, $1.75 million contract.
June 30th
The Red Wings will continue their relationship with veteran forward Patrick Kane, signing a one-year, $3 million extension.
The band is getting back together. After re-signing Sam Bennett last week, the Panthers re-signed Aaron Ekblad and Brad Marchand on Monday.
Rumors of a Mitch Marner trade surfaced during the draft weekend, and they came true on Monday, as the Maple Leafs signed Marner to an eight-year, $12 million average annual value extension, and then traded him to the Golden Knights for Nicolas Roy.
The Oilers will not allow one of their young prospects to leave via an offer sheet, as they signed restricted free agent defenseman Evan Bouchard to a four-year, $10.5 million average annual value contract.
Veteran defenseman Ivan Provorov would have been one of the most sought-after defensemen on the free agent market. Instead, he will be back with the Blue Jackets for the foreseeable future, agreeing to a seven-year, $8.5 million average annual value deal.
