The 2025 NHL offseason has been a dynamic period, featuring significant trades, the entry of 224 new prospects through the draft, and numerous player re-signings.
As free agent agreements continue to be finalized, ESPN NHL reporters Ryan S. Clark, Kristen Shilton, and Greg Wyshynski are evaluating the major signings, assessing each player`s compatibility with their new team, contract details, and more.
We will provide ongoing analysis of the most notable transactions throughout the offseason, so check back for updated grades as deals are completed. The most recent evaluations are presented first. Contract terms are listed on a per-year basis.
July 1
Corey Perry, RW
Los Angeles Kings
The terms: 1 year, $2.5 million AAV
Grade: B+
Where does he fit?
Corey Perry is entering his third decade in the league, and at age 40, he still demonstrates effectiveness to a certain extent. He is expected to contribute as a depth scoring winger for the Kings, providing a net-front presence and consistent agitation. Last season with Edmonton, Perry scored 19 goals and totaled 30 points in 81 games, primarily in a fourth-line role, maintaining consistent production despite his age.
Perry particularly excelled in the playoffs, netting 10 goals in 22 games. He even played alongside Connor McDavid when Zach Hyman was injured, keeping pace with elite talent. Kings coach Jim Hiller will likely utilize Perry in the bottom six, where he can offer energy and offensive potential.
Does it make sense?
A decade ago, the idea of Perry, who was a constant thorn in their side as a member of the Anaheim Ducks, playing alongside Anze Kopitar and Drew Doughty would have seemed unbelievable. But circumstances change over time.
At this stage of his career, Perry is an ideal fit for the Kings. There won`t be immense pressure on him, but he is capable of performing. He makes the Kings a more challenging opponent, particularly in the postseason, which is where Los Angeles aims to compete for more than just a single round this year.
Putting aside jokes about Perry often joining teams that reach the Stanley Cup Final before losing, he has a knack for being in situations with a chance at a championship. While he alone won`t turn LA into a postseason juggernaut, he is a valuable component. Teams that make deep playoff runs understand the importance of scoring depth, leadership, and veteran experience. Perry brings all these qualities to Los Angeles.
The contract is also favorable for LA. Perry`s cost will be at most $3.5 million (if he achieves all unlikely bonuses in his one-year deal). If he proves to be the difference-maker they need, it will be a great return. Past rivalries aside, this partnership between Perry and the Kings makes a lot of sense now.
Nate Schmidt, D
Utah Mammoth
The terms: 3 years, $3.5 million AAV
Grade: B+
Where does he fit?
His time with the Florida Panthers revitalized Nate Schmidt`s career. He had a strong regular season and was even better during Florida`s Stanley Cup run, recording three goals and 12 points in 23 games. Schmidt earned his spot on the Panthers` third pairing by excelling as a rush defender, making smart decisions with the puck, and showcasing impressive playmaking abilities.
Essentially, Schmidt is a versatile player when placed in the right role, and he earned the salary increase offered by Utah. The Mammoth acquire Schmidt at his recent best. He can slot into their third defensive pairing, handle a decent workload, and contribute both at 5-on-5 and on special teams. He will also provide a veteran presence for a young team still establishing its identity. While not the fastest skater, Schmidt is intelligent, confident, and experienced – a valuable combination.
Does it make sense?
Absolutely. Last season, the Mammoth were a middle-of-the-road defensive team, allowing an average of 3.01 goals per game and lacking significant offensive contribution from the blueline beyond Mikhail Sergachev`s 53 points. Schmidt is poised to enhance the entire defensive group. He represents an upgrade over Ian Cole and offers greater offensive upside than Juuso Valimaki, which are positive developments for the Mammoth.
If Utah can deploy Schmidt in a suitable role, he should bring Stanley Cup-winning experience and reliable performance that strengthens their defensive corps.
Ryan Lindgren, D
Seattle Kraken
The terms: 4 years, $4.5 million AAV
Grade: B
Where does he fit?
Lindgren`s acquisition appears to be part of a broader strategy by the Kraken to address defensive inconsistencies that plagued them throughout the 2024-25 season. According to Natural Stat Trick, they ranked in the top 10 for most scoring chances, shots, and high-danger scoring chances allowed per 60 minutes. Their penalty kill also ranked 21st with a 77.2% success rate.
Last season, Lindgren scored four goals and a career-high 22 points in 72 games split between the New York Rangers and Colorado Avalanche. While he possesses some offensive capability, the primary interest in Lindgren for the Kraken and other teams was his defensive ability. He adds to the Kraken`s top-six defensive options, joining Vince Dunn, Ryker Evans, Adam Larsson, Brandon Montour, and Jamie Oleksiak, with Josh Mahura potentially serving as the seventh defenseman.
Adding Lindgren provides defensive flexibility. He could function as a top-four or number five defenseman and play a significant role on the penalty kill, having logged over 127 shorthanded minutes in each of his six full NHL seasons.
Does it make sense?
Lindgren brings a dimension the Kraken previously lacked. Alongside two-way center Frederick Gaudreau, his signing signals new Kraken GM Jason Botterill`s intent to build a team with greater defensive reliability. While he fits into the team, his exact placement in the defensive hierarchy warrants discussion.
Dunn and Larsson have typically formed the top pairing, offering a balance of a puck-mover with a physical, stay-at-home defenseman, and a left-handed shot paired with a right-handed shot. If this combination remains, the second pairing becomes the next consideration. Montour provides another right-handed puck-mover for the second pairing, creating a need for a left-handed, stay-at-home partner. The question is whether that role goes to Lindgren or Oleksiak. Regardless of who fills that spot, is it prudent to pay a number five defenseman around or slightly more than $4.5 million annually?
This becomes especially relevant when considering other financial obligations. The Kraken need to sign pending RFA Ryker Evans and determine future contracts for RFAs like Kaapo Kakko and Tye Kartye. PuckPedia projects they will have $13.557 million in remaining cap space. This space will primarily be used to sign their RFA class, although creating more space might necessitate a trade.
Vladislav Gavrikov, D
New York Rangers
The terms: 7 years, $7 million AAV
Grade: B+
Where does he fit?
This signing felt like an early birthday gift for Adam Fox. The Rangers` top defenseman saw a dip in his production last season (61 points in 74 games), partly due to injuries and the team`s overall struggles, but also because he lacked a consistent, suitable partner on the top pairing. His partnership with longtime partner Ryan Lindgren (traded to Colorado) didn`t generate enough offense. While his pairing with K`Andre Miller was more effective, the Rangers chose not to commit long-term and traded the restricted free agent to Carolina.
Enter Vladislav Gavrikov, a genuine top-pairing shutdown defenseman. This creates a left-right defensive pairing with Fox, providing Fox with a stay-at-home partner similar to what he had with Lindgren, allowing him to take more offensive risks. Gavrikov was highly effective for the Los Angeles Kings last season, playing a career-high average of 23:05 minutes per game and consistently facing tough opponents. His pairing with Mikey Anderson allowed only 1.61 goals per 60 minutes at 5-on-5. While not overly physical, he is an underrated skater and plays smartly in his own zone. Gavrikov ranked 12th on the Kings in penalty minutes per game (0:20) over 82 games.
Does it make sense?
He addresses a critical need for the Rangers, both in supporting Fox and adding experienced defensive depth to a rebuilding blueline. The 29-year-old is coming off a strong season with the Kings and is in his prime. Beyond his defensive skills, he also contributed 30 points last season. Gavrikov has previous history with two current Rangers: playing with Artemi Panarin in Columbus and Igor Shesterkin in the KHL.
The contract`s average annual value is $1.5 million less than Ivan Provorov`s new deal with Columbus, despite their impacts being relatively comparable. The contract is front-loaded with $25.2 million in bonus money over the first five seasons, but the Rangers hope not to need buyout considerations. He is a solid addition.
Brock Boeser, RW
Vancouver Canucks
The terms: 7 years, $7.25 million AAV
Grade: B
Where does he fit?
The Canucks faced numerous challenges last season, including underperformance, injuries, and internal conflict that led to the J.T. Miller trade. One major concern was their offense, which averaged only 2.84 goals per game. Boeser scored 40 goals in 2023-24 and followed up with 25 goals in 75 games last season. He isn`t exceptionally fast or flashy with the puck, nor is he a standout in transition. However, he consistently finishes scoring chances and helps create opportunities in the offensive zone, particularly from high-danger areas.
He played various roles in Vancouver`s lineup last season, including time with the struggling center Elias Pettersson. If Pettersson is to rebound, he benefits from playing with a player like Boeser. Similarly, if Filip Chytil is expected to be an offensive force for Vancouver, he would benefit from Boeser on his line. This makes it somewhat peculiar that the Canucks seemingly didn`t want Boeser before re-signing him.
Does it make sense?
The situation surrounding the Canucks and Boeser was truly strange. There was a significant disparity in their contract negotiations, leading the team to reportedly attempt to trade Boeser at the deadline. Vancouver had a price in mind that no other team met. GM Patrick Allvin commented that offers for Boeser were incredibly low. As the season ended, Boeser believed he was playing his last games for the Canucks, stating it was “unlikely” he`d stay. Many anticipated the Minnesota native would sign with the Wild, but after balking at the term, they acquired Vladimir Tarasenko instead. Teams like Edmonton and Winnipeg also seemed poised to pursue Boeser. Yet, he unexpectedly returned to the Canucks on a 7-year, $7.25 million AAV deal.
His agent, Ben Hankinson, humorously remarked, “Really, did you expect him to sign anywhere else?” The whole scenario is bizarre. Why didn`t they resolve this before July 1, allowing Boeser to sign an eight-year contract and potentially lower the cap hit? Why let him test the market? Ultimately, the fit with the Canucks makes sense. He has overcome injury issues and is a reliable scorer for a team in need of offense. While Vancouver`s internal cultural issues are known, Boeser is widely considered a positive influence.
Jake Allen, G
New Jersey Devils
The terms: 5 years, $1.8 million AAV
Grade: B+
Where does he fit?
Right back in a goaltending tandem with Jacob Markstrom. The Devils dramatically addressed their persistent goaltending issues in 2024 by first acquiring Allen from Montreal and then trading for Markstrom. The strategy worked: New Jersey`s team save percentage improved from 30th (.886) to 11th (.898) last season. Ironically, their usually reliable offense became inconsistent (20th, 2.93 goals per game), contributing to derailing their season alongside significant injuries.
The surprising aspect was that Allen posted better regular-season numbers than Markstrom, with a .908 save percentage and 18.4 goals saved above expected, ranking ninth in the NHL. Markstrom proved his value in the playoffs with a .911 save percentage in their five-game loss to Carolina, but Allen was instrumental in getting them there. The Devils will run back this veteran duo next season, signing their backup to a contract with a low cap hit but considerable term.
Does it make sense?
It makes sense for the Devils in the short term, securing a reliable tandem goaltender for under $2 million against the salary cap. It provides goaltending stability for New Jersey extending beyond Markstrom`s current contract, which ends next season. Is five years too long for a goalie turning 35 in August? Even with goaltenders playing effectively into their late 30s and Allen showing little drop-off, it likely is. However, the financial structure of the deal minimizes potential damage if Allen`s play declines. The more remarkable element is Allen`s decision to stay. He was arguably the best option in a weak free-agent goaltending market, and several teams could have utilized his services. But realistically, how much more than $9 million would Allen earn over, say, a three-year term? It`s similar to Brad Marchand staying in Florida, not just due to age, but the same total money spread over more years.
June 30
Patrick Kane, F
Detroit Red Wings
The terms: One year, $3 million AAV
Grade: B
Where does he fit?
Any team serious about playoff contention understands the necessity of proven top-six scorers, and Kane fits that description perfectly. At this stage of his career, he isn`t expected to drive play as he did as a Hart Trophy winner, but he has successfully transitioned into a second-line winger who enhances a team`s overall strength. Last season, he was fourth on the Wings with 21 goals, and his 29 power-play points tied for second on the roster. His third-highest average ice time among forwards further highlights his importance and explains why the Red Wings reached an agreement on a new deal.
Had they not re-signed him, it`s highly probable another team would have quickly signed Kane, recognizing the high demand for players with his scoring ability. Another crucial reason for bringing him back relates to Detroit`s scoring struggles last season. They finished 21st in goals per game and were in the bottom five for scoring chances per 60, high-danger scoring chances per 60, and shots per 60, according to Natural Stat Trick.
Does it make sense?
Retaining one of the team`s most consistent forwards, even at 36, was vital for the reasons mentioned. However, the greatest value in re-signing Kane might be the multiple layers of benefits. Trading Vladimir Tarasenko earlier signaled the Red Wings` confidence in re-signing Kane. With Tarasenko gone, there appears to be an opening next to J.T. Compher and Jonatan Berggren on the third line. Shedding Tarasenko`s $4.75 million contract while signing Kane to a deal $1 million less than his previous one gave GM Steve Yzerman $17.211 million in cap space entering free agency. This provided several options.
They had space to target forwards like Brock Boeser and Nikolaj Ehlers but might find better fits for their top nine with players such as Evgenii Dadonov, Jonathan Drouin, or Jack Roslovic. Detroit could also be active in the top-four defenseman market, which included Vladislav Gavrikov, Ryan Lindgren, and Dmitry Orlov. Finally, the trade route remained an option, and Kane`s lower contract figure compared to last season gives Yzerman additional flexibility if he wishes to add salary via trade.
Brad Marchand, F
Florida Panthers
The terms: Six years, $5.25 million AAV
Grade: B+
Where does he fit?
Marchand famously refers to himself as a `rat`, so it`s fitting he remains with the franchise that has embraced that moniker since 1996. Beyond that, the Panthers clearly value Marchand`s multifaceted contributions to last season`s Stanley Cup champions, both on and off the ice. After being acquired from the Bruins in a surprising trade deadline move, Marchand recorded four points in 10 regular-season games, adjusting to life away from his only previous NHL team. But Marchand was everything GM Bill Zito hoped for and more during the Panthers` Cup run: 10 goals and 10 assists in 20 games, finishing second to Sam Bennett for the Conn Smythe Trophy. Marchand saved his best for the Stanley Cup Final, scoring six goals, including two game-winners. A key factor in the Panthers` repeat championship was their depth. Having Marchand, arguably the second-best left wing of his era (behind Alex Ovechkin), on the third line was a luxury few opponents possessed. His line with Eetu Luostarinen and Anton Lundell dominated and was frequently the team`s most effective unit during the playoff run.
He also perfectly complemented Florida`s culture. The Panthers were known for their antagonistic and relentless attitude. As one player recently described, they didn`t just want to win, they wanted to embarrass opponents. Marchand embodied this spirit on the ice with his tenacious play and mocking of opponents. But Marchand meant more to the Panthers than that. He kept the atmosphere light during tense moments, whether joking with teammates or being targeted by plastic rats thrown by them. There was also the widely publicized Dairy Queen incident. As coach Paul Maurice noted, the Panthers needed a vocal and media-friendly player like Marchand to alleviate pressure on more reserved stars like captain Aleksander Barkov. The Panthers sought to keep Marchand for all these reasons. Additionally, allowing him to reach free agency could have meant him signing with the divisional rival Toronto Maple Leafs, a team Florida acknowledges is improving in the postseason and could significantly benefit from a player like Marchand to overcome them. The Panthers, obviously, weren`t going to let that happen.
Does it make sense?
It`s a significant achievement for Zito to manage re-signing Bennett ($8 million AAV), Aaron Ekblad ($6.1 million AAV), and Marchand ($5 million AAV) as the Panthers prepare for a potential fourth consecutive trip to the Stanley Cup Final, a feat not accomplished since the Islanders` dynasty in the early 1980s. Critics will undoubtedly point to Florida`s lack of a state income tax and the financial advantages it provides in retaining talent. While a factor, the Panthers` sustained success, strong team culture, and substantial investment from ownership were the primary reasons this trio re-signed. That, and offering a 37-year-old player a six-year contract extension. *Six years*. While we`ve seen many older individuals from the Northeast retire to South Florida, this term is quite lengthy in the context of NHL aging curves. The contract term was so long it reportedly challenged some player assessment models, unable to predict a 43-year-old Marchand`s performance at the deal`s end. However, this was the cost of retaining a player poised for a highly lucrative free agency. Throughout the playoffs, there was speculation that Marchand would simply seek the largest contract from a suitable destination for his family. Some estimates suggested his AAV on the open market could reach $10 million with teams like Utah or Toronto. Then came the Dairy Queen trips, the team embracing him, and a Stanley Cup celebration that might still be ongoing. He decided to give Zito a hometown discount, and Zito extended the term beyond the four years many, including Marchand, expected. Consequently, the Panthers will continue to be a formidable and challenging opponent, driven by one of the league`s ultimate competitors. All hail the Rat King, returning to his kingdom.
Evan Bouchard, D
Edmonton Oilers
The terms: Four years, $10.5 million AAV
Grade: A
Where does he fit?
Evan Bouchard is unequivocally one of the NHL`s top offensive defensemen. Over the past four seasons, he ranks eighth among blueliners with 40 goals and 149 assists in 245 games. He was tied for fourth in power-play points with 74, quarterbacking the unit featuring Connor McDavid and Leon Draisaitl. He excels at moving the puck and driving play against challenging competition. His shot is elite for a defenseman. While some suggest his success is merely a result of playing with elite offensive talent, he has earned his place alongside them with his own high-level offensive game.
His defensive play has often been criticized throughout his six-year career, particularly when his mistakes are highlighted online. Realistically, his even-strength defense is slightly below average at worst, and not a liability. In any case, his offensive capabilities significantly outweigh any defensive concerns. Bouchard spent much of the regular season paired with defensemen like Mattias Ekholm and Jake Walman, which helped mitigate defensive issues. However, when coach Kris Knoblauch paired Bouchard with Darnell Nurse in the playoffs, it created a high-risk situation, comparable to adding excessive lighter fluid to a grill before lighting it.
Does it make sense?
Some might have been surprised by Bouchard signing for only four seasons. This term benefits the Oilers in two ways. First, it allowed them to retain Bouchard without committing massive long-term cap space, important with Connor McDavid`s potential extension looming in 2026-27. Second, it provides the opportunity to move on from Bouchard after four years if his risk-reward balance becomes unfavorable. The $10.5 million AAV is $1 million more annually than Noah Dobson`s eight-year deal with Montreal. Given that Bouchard is demonstrably a better offensive defenseman than Dobson, this is excellent business for GM Stan Bowman. Evolving Hockey had projected a $10.6 million AAV on an eight-year term for Bouchard.
Of course, it would have been even better financially for Edmonton to sign Bouchard to an extension last summer. However, the Oilers had other contractual priorities, and Bouchard also bet on himself to increase his value before his restricted free agency (though his regular-season and playoff point totals decreased year over year). The only drawback to this contract stems from past management decisions. Bouchard and Nurse will collectively count $19.75 million against the cap for the next four seasons. That`s a substantial amount allocated to two defensemen, only one of whom currently justifies his salary.
Ivan Provorov, D
Columbus Blue Jackets
The terms: Seven years, $8.5 million AAV
Grade: C+
Where does he fit?
The Blue Jackets utilized Provorov in a top-four role last season, and given this significant investment, he will need to continue filling that role effectively moving forward. Provorov`s greatest asset for Columbus is his ability to handle a heavy workload. The veteran averaged over 23 minutes per game last season (second on the team) and contributed on both the power play and penalty kill. Provorov is also remarkably durable, playing in all 82 games in each of the last three seasons. Last year, he had his best offensive output in five years, with seven goals and 33 points. If Provorov can maintain contributions in all three game situations and continue shouldering significant minutes, he will be closer to justifying his contract.
Does it make sense?
Well, somewhat. Provorov clearly benefited from the fact that the Blue Jackets were in a tough position to lose a defenseman due to the limited options available on the open market, especially after Aaron Ekblad re-signed elsewhere. Columbus had already missed out on Noah Dobson and Rasmus Andersson. Therefore, Columbus paid a substantial premium to secure Provorov`s services for potentially too many years. Consider that Provorov will earn $2.4 million more annually than Ekblad on their new contracts, which is remarkable on multiple levels. However, the Blue Jackets have cap space, the salary cap is increasing, and as mentioned, where else would Columbus find a defenseman they felt confident in?
Had Provorov left in free agency, the Blue Jackets` depth on the left side would have consisted primarily of Denton Mateychuk and Jake Christiansen, which would not have been sufficient for a team aiming to return to the playoff picture next season. The positive for Columbus is they still retain around $20 million in cap space. This allows room for further roster improvements.
Aaron Ekblad, D
Florida Panthers
The terms: Eight years, $6.1 million AAV
Grade: A-
Where does he fit?
He fits right back on the same blue line he`s been on since 2014, when the Panthers selected him first overall in the NHL draft. The 29-year-old defenseman expressed his desire to remain with the Panthers after winning two consecutive Stanley Cups with the only franchise he`s known, and he got his wish. GM Bill Zito remained confident the team could retain the career Panther, even with the addition of Seth Jones` $7 million cap hit on the defense. There are numerous reasons the team wanted Ekblad back. He has formed a formidable top pairing with Gustav Forsling during both of Florida`s Cup victories. He is a skilled puck-moving defenseman who fits the Panthers` system well. Last season, Ekblad recorded 33 points and averaged 23:31 of ice time in 56 games, missing time due to a 20-game suspension for violating the NHL/NHLPA performance-enhancing substances policy. He fits the lineup, fits the system, and is a crucial part of the team`s culture, contributing to both camaraderie and their confident style of play. The question was whether Zito could accommodate Ekblad`s desired terms and if Ekblad would fit within Zito`s financial structure. Less than 24 hours before free agency opened, the answer was yes to both.
Does it make sense?
In almost every way. It makes sense from a roster perspective as it maintains the defensive corps exactly as Zito envisions it. Ekblad and Forsling are a robust duo, playing over 866 minutes together at 5-on-5 in the regular season and allowing only 1.98 goals per 60 minutes. Their continued partnership allows Jones to thrive as a second-pairing defenseman with Niko Mikkola, as the Panthers believe Jones is better suited for second-pairing matchups and minutes. It makes sense from a competitive standpoint because Ekblad is essentially the defensive equivalent of Sam Bennett – good but not elite regular-season results, but a player whose performance significantly elevates in the postseason. Ekblad and Forsling`s production increased from 2.85 goals per 60 minutes in the regular season to 4.02 in the playoffs while remaining defensively sound against top opponents like Connor McDavid. Ekblad wins puck battles, plays physically, and is a solid contributor offensively. It makes the most sense financially. Prepare for another round of discussion about Florida`s state tax advantage, as Ekblad signed *significantly* below market value to stay with the Panthers. With options like Jakob Chychrun re-signing before free agency (eight years, $72 million with Washington), Ekblad was easily the top big-name defenseman available, and he comes with two Stanley Cup rings. His value as a puck-moving right-handed defenseman is clear. Evolving Hockey had projected a $7.7 million cap hit on a six-year term for him in free agency. Zito secured him for $6.1 million annually. That`s a remarkable discount, but an understandable one for Ekblad: from the comfort of home to a great defensive partner and annual Stanley Cup contention, the Panthers offered a lot. As we always say during free agency, his skills are evident.
What keeps this grade at an A-minus rather than higher is concerns about durability. Ekblad has played through injuries and missed time in the past. It`s an eight-year term for a player turning 30 next season. That`s the risk, but it`s not a substantial one for the Panthers given the overall value of the deal. And one only needs to look at the Stanley Cup to see Ekblad`s name engraved on it twice to understand the reward.
Benedict Kingsley