2026 NHL draft: Buzz on prospects, trades, free agency

The 2026 NHL offseason started to heat up even before the Carolina Hurricanes lifted the Stanley Cup on June 14.

Although Dylan Larkin‘s trade request has yet to be fulfilled by the Detroit Red Wings‘ front office, a number of massive swaps have already taken place: The Toronto Maple Leafs traded for the negotiating rights to Darren Raddysh (and promptly signed him to an eight-year contract), and the Florida Panthers landed Brady Tkachuk in exchange for three first-round picks and a second-rounder. On Tuesday, four massive deals shocked the NHL world.

With the NHL draft on tap Friday (Round 1) and Saturday (Rounds 2-7) — and free agency beginning on July 1 — ESPN reporters Emily Kaplan, Kristen Shilton and Greg Wyshynski have made calls around the league for the latest buzz on what the next big moves are on the horizon.

June 25

The potential trade return for Jason Robertson

The clock continues to tick loudly on the Dallas Stars‘ negotiation with restricted free agent winger Jason Robertson, who was tied for fourth in goals scored (45) last season.

Multiple reports indicated that Robertson and agent Andy Scott were seeking an average annual salary upwards of $14 million on a long-term deal. As I reported earlier this week, one NHL source said the Stars had offered Robertson the eight-year, $12 million AAV deal they handed to Mikko Rantanen after acquiring him from the Hurricanes last season.

As this negotiating stalemate has continues, plenty of teams have checked in on Robertson’s availability via trade. One NHL executive that inquired about Robertson told me the Stars were seeking a “Rantanen” package in return.

Please recall Dallas sent two conditional first-rounders, two third-rounders and promising second-year center Logan Stankoven to the Hurricanes for Rantanen. Carolina then used one of those first-rounders to acquire K’Andre Miller from the Rangers, who along with Stankoven were key pieces in the Hurricanes’ Stanley Cup win.

That’s obviously a significant ask, but the alternative for a team seeking Robertson’s services would be an offer sheet. Any offer sheet with an AAV above $11,939,167 would require a team to give Dallas four first-round picks over the next five drafts, starting in 2027. Depending on how one feels about the value of first-round picks, the trade route might be more beneficial.

None of this means that Robertson and the Stars still won’t find a way to hammer out a new contract. But again, the clock is ticking. — Wyshynski

June 24

What do the Caps’ additions mean for Ovi Watch?

The Washington Capitals have aggressively added to their forward group by acquiring both St. Louis Blues winger Jordan Kyrou and Buffalo Sabres forward Alex Tuch this week. Sources tell ESPN the Tuch deal will be for eight years and $10.5 million AAV in a sign-and-trade with the Sabres. Kyrou makes $8.125 million on a deal that takes him through 2030-31.

The question asked almost immediately around the NHL: If the Capitals are adding these two wingers, does that mean they’re losing star captain Alex Ovechkin to retirement?

Not necessarily.

The Capitals genuinely don’t know what Ovechkin’s decision is quite yet. They heard the same things we all did at the end of the season about him not wanting their season finale to be his last game and about how his children want him to come back for another campaign in Washington. They may have inklings. They don’t have anything definitive from the NHL’s all-time leading goal scorer about next season.

Ovechkin has been clear about one thing: If he returns for a 22nd NHL season, the Capitals need to be a contending team, having missed the playoffs in the last week of last season. The Kyrou and Tuch trades certainly get them closer to that ideal, but they weren’t primarily made as an enticement for Ovechkin. That’s the ancillary benefit.

Washington primarily wanted to bolster what it believes is a strong core under an outstanding coach in Spencer Carbery. They have Tom Wilson, Pierre-Luc Dubois, Dylan Strome, Jakob Chychrun, and one of the league’s better goaltending combos in Logan Thompson and Charlie Lindgren. They have strong young players in Ryan Leonard, Aliaksei and Ilya Protas, and more on the way with Cole Hutson and Andrew Cristall.

This is about giving the overall roster a boost, rather than just trying to impress Ovechkin with some renowned new teammates.

If the Great 8 does return, it won’t be with a blank check. They’ve just added nearly $19 million to their cap next season and will spend a bit more on a replacement for defenseman Rasmus Sandin, who tore his ACL in April. There will be a number the Capitals have in mind. Ovechkin, who turns 41 in September, will have his number in mind. They’ll need to find some middle ground. — Wyshynski

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Alex Ovechkin: ‘I’m pretty sure it’s not my last game’

June 23

Who else could be traded this week?

Alex Tuch‘s camp remains in communication with the Buffalo Sabres, but to this point, they haven’t bridged the gap on a new contract. Tuch, 30, is coveted around the league as perhaps the best unrestricted free agent remaining. He has size, speed and experience. Getting the eighth year on a new contract is valuable to Tuch, so if Buffalo doesn’t get something done this week, it’s reasonable to expect teams cutting the line, as Tampa Bay did with Darren Raddysh.

Given the low compensation cost (Toronto had to give up just a fifth-round pick to Tampa Bay, a division rival) don’t count out anyone. Leaguewide, it’s believed the Seattle Kraken are willing to offer Tuch a massive contract, but they’re not alone. The Sabres are also seeing what they can get back for Bowen Byram, who is looking for a bigger role as a No. 1 defenseman. Byram has a lot of fans across the league, so that could be a splashy trade.

The Connor Hellebuyck smoke is real. The star goalie for Team USA at the Olympics has made it clear that he’s not happy with the status quo in Winnipeg, leading the Jets to take calls. The Panthers were exploring the possibility, but it’s unclear if they can still make the move after spending three first-round picks on Brady Tkachuk. (Florida has been unwilling to part with Anton Lundell, but Eetu Luostarinen or Evan Rodrigues are possibilities.) As always, keep an eye on Vegas and Carolina as stealthy players for any big names.

Nothing new on the Dylan Larkin front, and Detroit GM Steve Yzerman hasn’t tipped his hand regarding timing. However, the expectation is the Red Wings’ captain will be traded ahead of next season. Larkin’s camp submitted a list — I believe Larkin’s preference is to go to an American-based team, and definitely an organization in position to win — and the Red Wings are working through that. As of now, a team such as Philadelphia is not on Larkin’s list. Though the Flyers covet top centers, they are open to filling those roles internally for now.

The Senators are hoping to flip the picks from the Brady Tkachuk trade into a top-six forward. Everyone is curious to see what they do, including their own players. Tkachuk’s trade shouldn’t spark a mass exodus as long as the Senators remain in position to compete. It appears to be status quo for Ottawa’s other American-born star, Jake Sanderson. I wouldn’t be surprised to see Sanderson or Tim Stutzle being named the next captain.

Toronto continues to field calls on Matthew Knies. The Blackhawks have been interested for a while, as Knies (23) fits their age range to grow with Connor Bedard and the rest of their emerging core. The No. 4 pick from Chicago is absolutely in play.

Keep an eye on the Canucks again. Though very few teams are pure sellers these days, Vancouver has been trying to move some of its bigger contracts. The Canucks have engaged with several teams on Elias Pettersson, for example. — Kaplan

Jason Robertson and the offer-sheet hype party

Only three players in the NHL scored more goals last season than Dallas Stars winger Robertson, who netted 45 of them. Only five players have scored more goals than Robertson (80) over the past two seasons. What is that worth to the Stars moving forward?

It’s one of the biggest questions around the league, as Robertson is a restricted free agent. According to one NHL source, the Stars had offered Robertson a contract of eight years with $12 million AAV, which would match the contract they handed Mikko Rantanen after acquiring the winger from the Hurricanes. Multiple reports have speculated that Robertson could be seeking upward of $14 million AAV — the same cap number his new agent, Andy Scott, secured for Leon Draisaitl in Edmonton two years ago.

So how does a player force his team into bridging that money gap? One way is through signing an offer sheet for their desired salary.

That’s what Hurricanes owner Tom Dundon believed Sebastian Aho did when he signed an offer sheet with the Montreal Canadiens in 2019. “It is his right to use that leverage the CBA provides to get the most money from us. And that’s all that happened,” Dundon said after the Canes matched it.

The issue with Robertson trying to go that route is cost of acquisition. For any AAV above $11,939,167, the cost would be four first-round picks in the next five drafts, starting in 2027. (Please recall Brady Tkachuk just moved for three first-rounders.) Many teams could do it. According to PuckPedia, only the Panthers, Maple Leafs and Avalanche don’t meet that requirement. But that’s a lot of first-rounders.

An offer-sheeting team would have to be willing to pony up those picks because Dallas isn’t likely to match, given that the Stars have around $11.06 million in cap space. Hence, the more likely scenario if Robertson and the Stars can’t bridge their gap is GM Jim Nill trading his scoring winger for something slightly less than that offer-sheet yield.

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Jason Robertson’s impressive goal pulls Stars within 1 late

But even if there aren’t successful offer sheets for the biggest-name RFAs, there could be ones on the way for midrange players, like when the St. Louis Blues raided the Oilers in 2024 for defenseman Philip Broberg and forward Dylan Holloway.

Granted, we hear this every summer, and there have only been four offer sheets signed in the past 12 offseasons. But one NHL player agent told ESPN he’s optimistic the hype is real this time.

“I think so. Teams are going to be willing to make that swing you need to take in order to have a chance of being successful,” he said.

While the thin free agent market is one factor, the agent believes it’s the league’s parity that’s the real driver.

“Teams are feeling an urgency to be good, to take a run at [the Cup]. There’s a ton of teams I feel like that are in that pressure situation. They’ve gone through a rebuild and now’s the time,” he said. “So I think the circumstances are such that there’s a very good chance that you would see an offer sheet.”

Again, it comes down to cost of acquisition. For example, an offer sheet between $7,163,499 and $9,551,332 AAV would cost a team a first-, second- and third-round pick in 2027 if successful. There are 11 teams in position to make that deal, and there are a lot of candidates in that range, including Vegas Golden Knights winger Pavel Dorofeyev and another Dallas forward: Mavrik Bourque. — Wyshynski

Is there really debate over who’s going No. 1?

The Maple Leafs are widely projected to be locked in on winger Gavin McKenna with their first pick in this week’s draft. But that hasn’t halted conversation around the merits of potentially seeing the Leafs make an “upset” selection — with Swedish winger Ivar Stenberg.

In several circles, the thought is that a wafer-thin margin separates those skaters, with the edge going to McKenna’s dynamic offensive upside. He was the Big Ten scoring champion at Penn State last season, with 15 goals and 51 points in 35 games, to prove he could go toe-to-toe with bigger, faster college competition in his only NCAA campaign. McKenna has incredible vision, elite playmaking skills and the speed at which he can process the game improved throughout his season with the Nittany Lions.

A quick canvass of three pro scouts all labeled McKenna as a game-changing talent Toronto would regret not going after — but none would say outright he was a more “complete package” than Stenberg.

On the other hand, Stenberg is professionally tested, and McKenna is not. Stenberg spent two years with Frolunda HC; in 2025-26, he had one of the best seasons by an 18-year-old, with 11 goals and 33 points in 43 games. Stenberg also represented Sweden at the 2026 men’s world championships, collecting four goals and eight points in eight games, and was picked as one of the club’s top three skaters in a run to the tournament’s quarterfinals. He might be the better 200-foot player now than McKenna.

All of that is not likely to be enough for the Leafs to pick him over his Canadian counterpart … right? Right. Because Toronto is built to play fast, and even new coach Jim Hiller won’t be deviating too much from what has worked there — the Leafs have also been lacking some scoring savvy since Mitch Marner‘s departure.

Regardless, it could be McKenna and Stenberg going one-two on Friday (that is, if San Jose pivots from plucking a defender after the Sharks landed Michael Kesselring in a trade with Buffalo earlier this month). If Stenberg is the Sharks’ choice, it would mark just the second time since 1963 that a pair of wingers were first off the board; in 2007, Patrick Kane went No. 1 to Chicago, and James van Riemsdyk went No. 2 to Philadelphia.

In fact, a center might not be picked in the top five — something we don’t often see in the modern draft era. There’s a depth of quality blueliners after McKenna and Stenberg — highlighted by Sault Ste. Marie’s Chase Reid, Prince George Cougars’ Carson Carels and North Dakota’s Keaton Verhoeff. Could they push the Brantford Bulldogs’ Caleb Malhotra or Boston University’s Tynan Lawrence or Djurgarden’s Viggo Bjorck down the draft order? It’s easy — and fun — to speculate. And there’s always room for surprises when teams get on the clock. — Shilton

Bob back in Florida?

The Tkachuk trade gave the Panthers three outstanding forward lines to go with two dominant defensive pairings. They have the third-best odds (+850 at DraftKings) to win a third Stanley Cup in four seasons. Those odds might get even better once everyone knows who’s actually stopping pucks for them in 2026-27, as they don’t have an NHL goalie signed for next season.

Could it be Sergei Bobrovsky again?

I believe the Panthers and Bobrovsky, a pending unrestricted free agent, are still engaged in contract talks. Bobrovsky, 37, made close to $100 million on his past two NHL contracts with the Columbus Blue Jackets (2015-19) and the Panthers (2019-26). The highest salary year on his just completed contract was $12 million. He made $6 million in salary last season.

The stalemate between Bobrovsky and Florida isn’t just about the money or the term — it’s about a bit of both. If the Panthers run it back with Bob, they’d like it at a cap hit where they don’t have to move out a player like Evan Rodrigues ($3.075 million AAV) to make it work. They also need space to ink a backup goalie. Daniil Tarasov, Bobrovsky’s understudy last season, is a UFA coming off a one-year, $1.05 million contract.

As for term, I still think those “Brad Marchand contract” (six years, $31.5 million) predictions aren’t taking into account the difference between a skater and a goalie. Forwards can play different roles over time. Marchand could be a top-line winger, then middle-six, then play 10 minutes per game on the fourth line when he’s in his 40s. Bobrovsky is either an old starter or an overpaid backup. There’s no middle ground. That’s why I believe the Panthers want a shorter-term deal.

The Panthers clearly have the “his stuff is there” advantage, as Bobrovsky and his family have lived in South Florida for seven years, to say nothing of the success he’s had on the ice with the franchise. Heck, another Stanley Cup win could earn him a Hall of Fame plaque, if he hasn’t earned one already.

Bobrovsky might have other options, however. The San Jose Sharks were a rumored possibility, as he could mentor Yaroslav Askarov. The Maple Leafs also have a young Russian goalie in the system with Calder Cup winner Artur Akhtyamov. They also have Bobrovsky’s former Florida backup Anthony Stolarz. The Hurricanes reportedly checked in on Bobrovsky before the trade deadline. Then there’s the most “if you can’t beat ’em, sign ’em” option in the Edmonton Oilers. — Wyshynski

Vegas, Andersson shaking hands?

During the Stanley Cup Final, there was rampant talk that the Vegas Golden Knights and defenseman Rasmus Andersson had a “handshake deal” on a new contract that’ll pay him around $8.5 million annually.

Vegas acquired Andersson in January for defenseman Zach Whitecloud, prospect Abram Wiebe, a 2027 conditional first-round pick and a 2028 conditional second-round pick. He was a pending unrestricted free agent in the last year of a deal that paid him $4.55 million against the cap. Rumors swirled at the time that Andersson wanted to sign an extension in Vegas, but the trade was made without one.

“I’ve loved everything about Vegas, and I’ve really enjoyed being here. Yes, I would love to come back, work with Kelly [McCrimmon] and find a solution,” Andersson said after the season. “All I wanted in Calgary was a chance to win. We were this close to winning.”

Andersson had 17 points (seven goals, 10 assists) in 33 games during the regular season with the Golden Knights, averaging 21:42. His postseason numbers were not as impressive: Just six points in 21 games, as his defensive pairing with Noah Hanifin was a struggle analytically (44% expected goals percentage).

Andersson talked after the Stanley Cup Final about how challenging this season was, from the trade to playing in the Olympics for Sweden to the tragic loss of “a very close friend and mentor” in his agent Claude Lemieux, who died in May.

McCrimmon expects Andersson to be better next season in Vegas.

“I think he’s a really good NHL defenseman. We wanted to acquire him for a long time,” McCrimmon said. “I think he’s going to be like a lot of players that come here: Once you’re settled in, once you’ve got your house, once you’re with an organization a little bit longer, it’s easier to get to the game that you have.”

Vegas plays by its own rules. A handshake deal is not a signed contract. But McCrimmon sounds like a GM who expects his pending free agent will be back. — Wyshynski