Connor McDavid’s looming contract decision shapes the Oilers’ 2025-26 season as Edmonton pursues a title while navigating a rising salary cap. Across the league, the Panthers chase a historic back-to-back, Crosby’s Penguins face turnover, and Ovechkin eyes 900 goals with the Olympic stage returning after 12 years. A wave of big-name UFAs—including McDavid, Eichel, Connor and Panarin—looms as teams weigh cap realities and long-term rosters. The off-season churn includes Marner’s move to Vegas and Ehlers to Carolina, setting the stage for a reshaped landscape that fantasy players will scrutinize carefully.

Cap projections for 2026-27 and 2027-28 hint at where star talent lands, while health and injuries influence the Panthers’ bid and Hedman’s leadership figure in Tampa. With McDavid weighing his future and the Olympics returning, fantasy managers must balance immediate production with long-term dynasty implications, tracking signings, team fits, and potential dream scenarios.

Lane Hutson’s extension talks loom large for Montreal, with eight years at roughly $10 million per season seen as a plausible starting point. Delays could push the price higher and squeeze the Canadiens’ cap, affecting defense depth and fantasy projections for teammates. In Vegas, Jack Eichel’s likely $13–14 million eight-year deal anchors the Knights’ payroll and could shift decisions on goaltending and top-line workloads.

Kaprizov’s potential bump may lift the ceiling for other elite wingers and RFAs, while surrounding rumors around Malkin, McLeod, and Carter Hart hint at a tighter goalie market and possible moves that shake up rosters. For fantasy managers, keep a close eye on these extensions—the cap math behind them often sets the tone for player value and leverage across the league.

Kaprizov’s massive extension reshapes the upper end of the NHL pay scale and signals how teams will structure stars going forward, while McDavid’s next deal looks set to lean shorter in years but still carry a high AAV in the right market. The ripple effects hit the next tier of players—Eichel, Kempe, Tuch, Necas—whose comps rise as teams balance star power with cap flexibility. Jets’ Connor remains a focal point in Winnipeg’s ongoing negotiation landscape.

UFA markets, signing bonuses, and tax advantages—especially Vegas—will influence contract structures across the league. Fantasy managers should track who benefits from a tightened cap and who may lose slotted opportunities to new high-dollar signings, with an eye on teams prioritizing offense and window timing.