2025-26 NHL Season: The Ultimate Guide for Lapsed Fans

NHL Players Return to the Winter Olympics

For the first time since the 2014 Sochi Games, NHL players will participate in the Winter Olympics in 2026. The league will pause its season from February 6-25, allowing athletes to represent their home countries in Italy. Preliminary matches are scheduled to begin on February 11, with the gold medal game set for February 22.

The anticipation for this Olympic tournament is incredibly high. Last season`s 4 Nations Face-Off served as an excellent prelude to international hockey, showcasing thrilling matchups like the physical Canada-U.S. rivalry. The 12 qualifying nations have already announced their initial six roster spots, setting the stage for players to make their case for a final Olympic spot in the early months of the NHL season.

The complete 25-man Olympic rosters are expected in early January, giving players like Buffalo Sabres star Tage Thompson, who was notably absent from the 4 Nations roster, ample opportunity to impress Team USA General Manager Bill Guerin, who recently made history in his own right…

Kaprizov Secures NHL Record Contract

The hockey world was initially surprised when Minnesota Wild winger Kirill Kaprizov reportedly declined an eight-year, $128 million deal, which would have been the richest in NHL history. This sparked speculation about his future and potential free agency. However, Kaprizov ultimately chose to remain in Minnesota, signing an even more substantial contract just weeks later.

Kaprizov and the Wild agreed to an NHL-record eight-year, $136 million extension, binding him to the team through the 2033-34 season. This deal surpasses previous benchmarks set by Alex Ovechkin ($124 million total) and Leon Draisaitl ($14 million average annual value), making it the highest in both total value and AAV ($17 million). This new contract sets a significant precedent, influencing future negotiations for top wingers like Kyle Connor of the Jets and Adrian Kempe of the Kings. With Kaprizov secured, the Wild now face the challenge of building a Stanley Cup-winning team around their franchise player.

Panthers` Quest for a Three-Peat Jeopardized

After clinching their second consecutive Stanley Cup against the Oilers, the Florida Panthers are now aiming for a historic three-peat – a feat not achieved since the New York Islanders` dynasty in the 1980s. Their offseason started strongly, as they successfully retained three key free agents: center Sam Bennett (eight years, $8 million AAV), defenseman Aaron Ekblad (eight years, $6.1 million AAV), and, surprisingly, 37-year-old winger Brad Marchand, who signed a six-year, $31.5 million extension after being a trade deadline acquisition.

However, the Panthers` ambitions have been significantly hampered by two major setbacks. Star winger Matthew Tkachuk is expected to be sidelined until at least December following offseason surgery for a sports hernia and torn adductor muscle. Additionally, captain Aleksander Barkov suffered a severe right knee injury (ACL and MCL tears) during his first training camp practice, requiring surgery that will likely keep him out for the entire regular season, with his playoff availability remaining uncertain.

Vegas Acquires Marner, Loses Key Defenseman

The Vegas Golden Knights enter the season as strong contenders in the Western Conference, following an offseason marked by a significant acquisition and a major loss. Vegas successfully landed Mitch Marner, the offseason`s biggest free agent, from the Toronto Maple Leafs. Marner, who recorded 102 points last season, had become a target of criticism in Toronto due to the team`s playoff struggles. The Golden Knights traded center Nicolas Roy to acquire Marner before free agency, then signed him to a franchise-record eight-year, $96 million contract. He is expected to form a formidable duo with star center Jack Eichel on the top line.

Conversely, the Golden Knights` defensive corps took a hit when veteran defenseman Alex Pietrangelo announced in June that he was stepping away from the “intensity of hockey” to focus on improving his injured hip, hoping to regain a “normal quality of life.” He is anticipated to miss the entire 2025-26 season, though the 35-year-old hasn`t ruled out a future return if rehabilitation proves successful over surgery.

Offseason Moves: Silence and Surprises

In January, the NHL and NHLPA revealed salary cap projections, indicating a rise from $95.5 million this season to $113.5 million by 2027-28. While many anticipated a flurry of player movement via free agency and trades due to this increased financial flexibility, most teams utilized the cap boost to retain existing talent rather than aggressively pursue new acquisitions.

Beyond the Panthers` key trio, several notable players chose to remain with their current teams, including:

• Columbus Blue Jackets defenseman Ivan Provorov (seven years, $8.5 million AAV)
• Detroit Red Wings winger Patrick Kane (one year, $3 million)
• Vancouver Canucks winger Brock Boeser (seven years, $7.3 million AAV)
• New Jersey Devils goalie Jake Allen (five years, $1.8 million AAV)

Despite the general trend of retention, the offseason also saw some significant names on the move:

• Nikolaj Ehlers left Winnipeg for a six-year, $8.5 million AAV deal with the Carolina Hurricanes, where he`s projected as a top-line winger. Carolina also acquired defenseman K`Andre Miller from the New York Rangers, sending prospect Scott Morrow in return. Miller, a restricted free agent, signed an eight-year, $60 million deal with the Hurricanes post-trade.
• Veteran defenseman Brent Burns, formerly of Carolina, signed a one-year, $1 million contract with the Colorado Avalanche.
• Vladislav Gavrikov departed Los Angeles for New York, signing a seven-year, $7 million AAV deal with the Rangers.
• Mikael Granlund moved from Dallas`s “Finnish Mafia” line to the Anaheim Ducks, signing for three years at $7 million AAV.
• Forward Chris Kreider, a 13-year Rangers veteran with 326 goals in 883 career games, was traded to Anaheim.
• The Ducks traded former phenom Trevor Zegras to the Philadelphia Flyers.
• Defenseman Nate Schmidt, following a valuable stint with the Panthers, secured a three-year, $3.5 million AAV deal with the Utah Mammoth (formerly Utah Hockey Club).
• The Mammoth made a significant trade, acquiring forward JJ Peterka from the Buffalo Sabres for defenseman Michael Kesselring and forward Josh Doan.
• The Seattle Kraken acquired forward Mason Marchment from the Dallas Stars.
• The Canucks brought Vancouver native Evander Kane home in a trade with Edmonton.
• To accommodate Marner, the Golden Knights sent defenseman Nicolas Hague to Nashville in exchange for Colton Sissons and Jeremy Lauzon.
• The Montreal Canadiens bolstered their blue line by acquiring defenseman Noah Dobson from the New York Islanders for two first-round picks and forward Emil Heineman just before Round 1 of the draft.
• The Columbus Blue Jackets picked up Colorado forwards Charlie Coyle and Miles Wood for forward Gavin Brindley and draft picks.
• The Wild acquired forward Vladimir Tarasenko from the Detroit Red Wings for future considerations.
• Finally, the Detroit Red Wings aimed to address their goaltending concerns by acquiring Anaheim Ducks netminder John Gibson for goalie Petr Mrazek and two picks.

Expedited CBA Changes

A surprising development was the swift and relatively amicable agreement on a new collective bargaining agreement (CBA) between the NHL and NHLPA, a departure from their historically contentious labor relations. While the new CBA officially takes effect in September 2026, both parties agreed to implement several key changes for the 2025-26 season.

A primary alteration involves the use of long-term injured reserve (LTIR) to create salary cap space during the regular season. Under the new rule, if a team replaces the full salary of an injured player, that player becomes ineligible to return during the playoffs. Otherwise, teams can only utilize additional cap space up to an amount less than the “prior season`s average league salary.” A significant new addition is the implementation of a postseason salary cap, requiring teams to ice a playoff roster with total average contract values within that season`s cap limit.

Other expedited changes for this season include the elimination of deferred payment contract structures and “double retention” trades, a tactic where a third-party team would retain an additional percentage of a player`s salary during a trade. On a lighter note, player dress codes have also been relaxed for the current season.

Future CBA measures, set for September next year, include new contract term limits (a maximum of six years for free agent signings and seven years for existing roster players at the trade deadline) and the establishment of emergency goaltender replacements for each team.

Ovechkin`s Future: Farewell or More History?

The NHL is preparing for the retirement of one superstar, Los Angeles Kings center Anze Kopitar, who announced that 2025-26 will be his final season. However, on the very same day, Washington Capitals captain Alex Ovechkin, 40, stated he was still undecided about his future.

Ovechkin, currently in his 21st season, will be an unrestricted free agent after this year. Last season, he surpassed Wayne Gretzky`s all-time goal record, finishing with 897 goals despite missing 16 games due to a broken leg. His 44 goals eased concerns about his age affecting his performance. When asked about his final season, he simply replied, “I don`t know if this is going to be the last. We`ll see.” General Manager Chris Patrick confirmed that the team has not yet discussed Ovechkin`s future, and they are unsure of his intentions. While his retirement remains uncertain, Ovechkin still has historical milestones within reach: becoming the first player to score 900 NHL goals and reaching 1,700 points (he needs 77, while Sidney Crosby is 13 points away).

Quenneville`s Return to Coaching

The Anaheim Ducks have hired Joel Quenneville to replace Greg Cronin, who was fired after two seasons. Quenneville returns to an NHL coaching role for the first time since 2021, when he resigned from the Florida Panthers amid the fallout from the Chicago Blackhawks` sexual assault case. An independent report in October 2021 detailed the Blackhawks` mishandling of Kyle Beach`s allegations against video coach Brad Aldrich during the team`s 2010 Stanley Cup run, with Quenneville as head coach.

Following the report, the NHL declared Quenneville, along with former Blackhawks executives Stan Bowman and Al MacIsaac, ineligible for employment until reinstated by Commissioner Gary Bettman. Their bans were lifted in July 2024, with Bowman subsequently becoming the general manager of the Edmonton Oilers. Quenneville, however, waited until May 2025 to join the Ducks.

Ducks General Manager Pat Verbeek stated that the team conducted extensive due diligence, consulting dozens of individuals before hiring Quenneville. “Our findings are consistent with Joel`s account that he was not fully aware of the severity of what transpired in 2010,” Verbeek said. “It is clear that Joel deeply regrets not following up with more questions at the time, has demonstrated meaningful personal growth and accountability, and has earned the opportunity to return to coaching.” Quenneville, 67, takes over a Ducks team featuring a core of young talent and veteran additions like former Rangers captain Chris Kreider, aiming for their first playoff berth since 2018. Quenneville is 275 wins shy of tying Scotty Bowman`s all-time NHL coaching record.

The Coaching Carousel

This offseason saw numerous veteran coaches moving to new teams:

• Mike Sullivan left the Pittsburgh Penguins after 10 seasons to take over the New York Rangers, replacing Peter Laviolette. Former Rangers assistant Dan Muse now leads the Penguins` bench.
• Rick Tocchet, a former Philadelphia Flyers player, is now their head coach after departing the Vancouver Canucks. His former assistant, Adam Foote, assumed the head coaching role in Vancouver.
• Jeff Blashill, previously the Detroit Red Wings` coach, is now coaching the Chicago Blackhawks.
• Former New York Islanders coach Lane Lambert takes the helm for the Seattle Kraken, who fired Dan Bylsma after a single season.
• Marco Sturm, who coached the Los Angeles Kings` AHL affiliate, is now the head coach of the Boston Bruins.
• Finally, the Dallas Stars welcome back a familiar face: former Edmonton Oilers assistant coach Glen Gulutzan, who previously served as the Stars` head coach from 2011-13. He replaces Pete DeBoer, who led Dallas to three consecutive Western Conference Finals, all ending in losses.

Rookie Class of 2025-26: Players to Watch

Several promising rookies are poised to make an immediate impact this season. The early favorite for the Calder Trophy is Montreal Canadiens forward Ivan Demidov, a 19-year-old offensive sensation from Russia who showcased dazzling moves late last season. Other rookie forwards to keep an eye on include Jimmy Snuggerud (St. Louis Blues), Ryan Leonard (Washington Capitals), Michael Misa (San Jose Sharks), and the Edmonton Oilers` duo of Matthew Savoie and Isaac Howard, should they earn time alongside Connor McDavid and Leon Draisaitl.

However, defensemen might dominate this rookie class. First overall pick Matthew Schaefer brings exceptional puck-handling and renewed hope to the Islanders. Carolina Hurricanes defenseman Alexander Nikishin, who saw playoff action last year, is expected to be a significant 6-foot-4 force. Zeev Buium of the Minnesota Wild, also a playoff debutant, could emerge as their power-play quarterback. Similarly, 6-foot-4 defenseman Sam Rinzel of the Chicago Blackhawks is one to watch. Zayne Parekh of the Calgary Flames could be the NHL`s next great offensive defenseman.

In goal, two prospects stand out: Yaroslav Askarov of the San Jose Sharks and Jesper Wallstedt of the Minnesota Wild, both of whom could soon become their teams` primary netminders.

Florida Hosts Outdoor NHL Games

Commissioner Bettman has dubbed this the “golden age of hockey” in Florida, citing the sport`s growth and the recent Stanley Cup successes of local NHL teams. A clear indicator of this prosperity is the Sunshine State hosting its first two outdoor NHL games in 2026.

The Florida Panthers, two-time defending Stanley Cup champions, will make their outdoor game debut in the Winter Classic on January 2 against the New York Rangers at LoanDepot Park, home of the Miami Marlins.

The Tampa Bay Lightning, who have only played outdoors once (in Nashville in 2022), will host the Boston Bruins on February 1 at Raymond James Stadium, home of the Tampa Bay Buccaneers. With the Panthers now having an outdoor game, the Utah Mammoth remain the only current NHL team yet to participate in an outdoor event.

March of the Penguins? The Future of Pittsburgh`s Core

For two decades, Sidney Crosby, Evgeni Malkin, and Kris Letang have been the bedrock of a Penguins team that won three Stanley Cups. Yet, those glory days feel distant. The Penguins have missed the playoffs for three consecutive seasons and haven`t advanced past the first round since 2018. General Manager Kyle Dubas`s reluctance to initiate a full rebuild largely stems from the continued presence of this legendary trio. But that might be on the verge of changing.

Malkin, 39, is in the final year of his contract. While he expresses a desire to stay with the Penguins, he admitted to reporters that he was intrigued by the “great story” of Brad Marchand leaving his longtime team (Boston) to help the Florida Panthers win the Stanley Cup. Crosby, 38, is signed for two more seasons and has consistently expressed his wish to remain in Pittsburgh, holding onto hope that a young supporting cast could transform into a playoff contender. However, with many analysts predicting the Penguins to finish last in the Metro Division, Crosby`s best chance for another Stanley Cup ring might lie with another NHL team, leading to intense speculation about his potential destination.

Crosby, Malkin, Letang, and star defenseman Erik Karlsson all possess no-movement clauses, giving them control over their futures. Their decisions on whether to remain in Pittsburgh are eagerly awaited by the rest of the NHL, especially in the case of No. 87.

Connor McDavid`s Uncertain Future

Finally, the most significant question looming over the NHL as the season commences: Will the world`s best player truly become the most sought-after free agent in hockey history?

Connor McDavid, 28, boasts an impressive resume with five scoring titles, three regular-season MVP awards, and one playoff MVP award – making him only the second skater to win the Conn Smythe Trophy in a losing effort. He has amassed an astounding 1,082 points in 712 games and has led the Oilers to consecutive Stanley Cup Finals.

However, McDavid is entering the final year of the eight-year, $100 million contract he signed in 2017. Sources close to ESPN indicate that “everything is on the table” for McDavid, from a team-friendly, short-term deal to continue pursuing a Cup in Edmonton, to testing the open market as an unrestricted free agent, which would undoubtedly result in an NHL-record contract.

This is a decision that could profoundly reshape the NHL landscape and determine whether the league`s greatest talent can finally achieve the championship that has eluded him, leaving him in perpetual anguish. So, no pressure, Connor…

Just another reason why the 2025-26 season promises to be a wild, unpredictable ride. Enjoy it, hockey fans!