There were a flurry of signings that were completed shortly after the NHL’s free agency period officially opened at noon ET on Wednesday, and most of the top free agents have already landed with new clubs.
It wasn’t just signings that were going down, with a handful of eye-opening trades sprinkled in throughout the afternoon. Teams were busy early on as they sought ways to improve their rosters early into the offseason, and that led for quite the hectic first day of free agency.
We’re going to go over some of the biggest winners and losers from Day 1 of NHL free agency, detailing what teams failed to make any significant improvements while highlighting others that made some important acquisitions.
NHL free agency winners
San Jose Sharks
Most fans considered the Sharks’ draft to be the best in the league, and they’ve kept their foot on the gas at the start of free agency. San Jose addressed its biggest need by acquiring a pair of veteran defensemen in Jacob Trouba and Darnell Nurse. They also signed Mason Marchment, who is coming off an excellent second half of the season with the Blue Jackets. Some might consider the Trouba and Nurse deals to be overpays on the part of the Sharks, and that would be a fair assessment. But San Jose had plenty of cap space to work with and landed some experienced defenseman, which was something they lacked last season. Nurse and Trouba are somewhat controversial players, but they have both made multiple trips to the postseason and can help mentor a young nucleus in San Jose that’s ready to take the next step toward the postseason.
Canadiens
Signing Ivan Demidov to a long-term extension helps cement Montreal’s elite core of young talent for the foreseeable future. Demidov has incredibly high upside, and at 20 years old his contract will look like a bargain in a few years as the salary cap continue to rise. Now, Montreal’s entire nucleus (Cole Caufield, Nick Suzuki, Juraf Slavkovsky, Lane Hutson and Noah Dobson) are locked down long term, and they should still have enough financial flexibility to further improve the roster, too. Montreal didn’t make any marquee additions on the first day of free agency, but getting the Demidov deal done was a huge win for a franchise that’s poised to be a legit contender for years to come.
Mammoth
The Mammoth agreed to two deals that will improve their forwards group as they look to make a deeper playoff push in 2026-27. First, they agreed to trade for Vincent Trocheck from the Rangers, providing the team with some much-needed veteran experience. Trocheck is outstanding in the faceoff circle and is a gifted playmaker who is just two seasons removed from a 77-point campaign in New York. They supplemented that move by signing Anders Lee to a three-year, $16.2 million contract. Lee is a proven goal scorer who had 19 goals last season and has nine seasons with 20-plus goals under his belt. For a team that needed leadership and experience to help their standout core of young forwards, they picked up two players who fit that bill to a tee.
NHL free agency losers
Blackhawks
The Blackhawks signed Bowen Byram, who they acquired at a very significant cost in a pre-draft trade with the Sabres. Byram, who has been inconsistent at times and isn’t the most physical defenseman out there, is now the highest-paid D-man in the NHL, having agreed to a six-year deal with a $12.5 million AAV. That’s quite the investment in Byram, and it certainly feels like an overpay. Furthermore, Chicago didn’t make any significant signings on the open market. They also added Ian Cole on a one-year deal, further fortifying their defense in the short term, but they haven’t improved offensively despite scoring the second-fewest goals (213) in the league last year.
Ducks
The Ducks saw plenty of talent depart this offseason, with the likes of John Carlson, Jacob Trouba, Radko Gudas and Olen Zellweger all leaving the team. Losing so much talent on defense would hurt any team, even if the decision to let them depart made sense. They weren’t aggressive on Wednesday, and missed out on some possible defensive additions that would have helped fill the void left behind. They’re running out of viable options to replenish their defense, and may soon have to turn to the trade market in order to recoup their losses.
Maple Leafs
The Maple Leafs signed free agency’s top goaltender in Sergei Bobrovsky, who is coming off a rough season in Florida. At 37 years old, Toronto was surprisingly comfortable offering him a three-year deal worth $7 million annually. That’s a big risk for an aging goalie coming off his worst season in recent memory, even with the Stanley Cup pedigree he boasts. Is Bobrovsky, at this point in his career, going to out-produce Dennis Hildeby, who the Maple Leafs traded Wednesday to acquire Nick Paul? That’s hard to guarantee, but they’ve invested a significant amount of money into Bobrovsky in hopes that he will do just that. The new front office has been quick to try to overhaul the roster it inherited, but it may have been a bit too aggressive in handing out deals to veterans that haven’t been extremely productive over the last few seasons.
