NHL teams under tight salary cap

The NHL salary cap has been increased to $88 million for the 2024-25 season, giving teams more room to maneuver this offseason. After the initial wave of free-agent signings and trades, several teams remain grappling with unresolved salary-cap issues. The evaluation of these teams could hint at potential future moves, whether it be a trade, demotion or other forms of contract relief.

According to PuckPedia, the Washington Capitals, Vegas Golden Knights, Colorado Avalanche, Philadelphia Flyers, Edmonton Oilers, and Florida Panthers are still over the salary cap. The Toronto Maple Leafs and Nashville Predators are both under $1 million under the salary cap, which isn’t enough to account for in-season trades.

When evaluating these teams, a potential trade could be made to a team that is still looking to improve, such as the Buffalo Sabres. Let’s take a look at these teams that have a tight salary cap and how they can solve their tight situations.

The Washington Capitals

Projected ceiling: $102.17 million

Projected capitalization space: -$14.17 million

After a very aggressive offseason, the Washington Capitals find themselves in the league’s toughest salary cap situation. The Capitals retained $3.9 million in salary when they traded Evgeny Kuznetsov last season. They have the potential for cap relief as they have a long-term injury reserve candidate in Nicklas Backstrom.

Ethan Bear joined the NHLPA’s Player Assistance Program last season, which could provide some relief to his salary if he stays there to start next season. That still doesn’t represent enough cap space, meaning a trade or two is in the works.

Backstrom and Bear signed a contract worth $11,262,500, which leaves about $3 million to be settled before the season. Tom Wilson’s $6.5 million contract is on Washington’s books for the next seven seasons. That’s a tough contract to trade for a 30-year-old.

The other candidates are T.J. Oshie, Dylan Strome and Trevor van Riemsdyk. Oshie has a $5.75 salary cap hit for one more season, but he holds a 10-team no-trade clause. Trading Strome’s $5 million salary cap hit for four more seasons would help the situation, but would leave the Capitals with a thin pool of centermen. Van Riemsdyk has $3 million per year for two seasons left on his contract, which would be enough to put Washington in the green.

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The Las Vegas Golden Knights

Projected ceiling: $91.64 million

Projected capitalization space: -$3.64 million

Long-term injured reserve has been Vegas’ friend in recent seasons, and they still have a candidate in Robin Lehner and his $5 million salary cap hit. That salary juggle would put the Golden Knights under the NHL’s cap limit of about $1.36 million.

The Golden Knights are already looking for forwards, so if they want more cap space, they’ll likely have to go for a defenseman. The acquisition of Noah Hanifin last season created a roadblock for Nicolas Hague and Zach Whitecloud, who at one point looked like promising talents in the organization.

Hague’s salary cap hit is $2,294,150 next season before he becomes a restricted free agent. Whitecloud has four years left on his contract, averaging $2.75 million per season. The Golden Knights are geniuses at managing the salary cap, so even if they don’t move anyone, they’ll find a way to stay within the salary cap.

Colorado Avalanche

Projected ceiling: $89.34 million

Projected capitalization space: -$1.34 million

The Colorado Avalanche’s situation hinges on the status of Valeri Nichushkin, who is currently in the NHLPA’s player assistance program. Nichushkin makes $6,125 per year, which leaves him with nearly $5 million in cap room if he remains in the program to start the season.

Otherwise, the Avalanche will have to trade Nichushkin or work Gabriel Landeskog off long-term injured reserve. That assumes, of course, that Landeskog’s status also remains unchanged after skating with the team late last season.

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Philadelphia Flyers

Projected ceiling: $88.83 million

Projected capitalization space: -$830,000

Philadelphia’s decision to buy out Cam Atkinson bought them some breathing room, as the Flyers still retain the salary from the Kevin Hayes trade. They should also save some breathing room by burying Cal Petersen in the minor leagues and designating Ryan Ellis’ $6.25 million as LTIR. All that considered, the Flyers are still just under $1 million over the NHL salary cap.

Philadelphia doesn’t need to make any trades to free up space under the salary cap, as Ryan Johansen’s $4 million salary cap hit next season is also set to be buried in the minor leagues. Under the rule, they would save $1.15 million on the salary cap, which would put them under the upper limit.

Of course, that doesn’t take into account roster improvements. The Flyers didn’t make any significant free-agent signings or trades this offseason. Their only roster change was the addition of Matvei Michkov, the first overall pick in the 2024 draft.

Edmonton Oilers

Projected ceiling: $88.35 million

Projected capitalization space: -$354,000

The Buffalo Sabres have already taken advantage of the Edmonton Oilers’ situation by acquiring Ryan McLeod in exchange for prospect Matthew Savoie. The Oilers are slightly over the NHL salary cap while still having to sign restricted free agents Dylan Holloway and Philip Broberg.

While Leon Draisaitl’s name is being bandied about because he’s entering the final season of his contract, the obvious mover is Evander Kane. Kane’s decline over the past few seasons has been significant, and he has a $5.125 million salary cap hit over the next two years.

Cody Ceci has a $3.25 million hit to his salary cap in a contract year and could also be a casualty.

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Florida Panthers

Projected ceiling: $88.08 million

Projected capitalization space: -$83,000

The Florida Panthers have several options to get under the salary cap, including retaining fewer players at a time or burying Spencer Knight back in the AHL. They could also opt to go the trade route, since Sam Bennett, Carter Verhaeghe and Aaron Ekblad have sizeable contracts that expire after next season.

Trading a key player probably isn’t an option for a team trying to replenish its roster, but it’s an option on the table if they can find the right deal.

Toronto Maple Leafs

Projected ceiling: $87.02 million

Projected capitalization space: $180,000

Rumors of a Mitch Marner trade and a possible dismantling of the core have been swirling since the Toronto Maple Leafs’ season ended. They have yet to show any signs of a major trade, but they have two restricted free agents to sign in Connor Dewar and Nicholas Robertson, and no room under the salary cap to do so.

The Leafs could consider trading another contract, such as Jake McCabe, whose $2 million salary cap hit is expiring, since they have an influx of defensemen. Robertson would also be looking for a fresh start, but a starting backup wouldn’t be much cheaper.

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Nashville Predators

Projected ceiling: $87.40 million

Projected capitalization space: $596,000

The losses of Ryan Johansen and Mattias Ekholm and the buyout of Matt Duchene have reduced the Nashville Predators’ salary cap. General manager Barry Trotz continued to be aggressive this offseason, adding Steven Stamkos, Jonathan Marchessault and Brady Skjei.

A minor move could solve the Predators’ salary cap problems, such as a trade for Cody Glass, who is falling out of favor with the organization. That would free up $2.5 million in cap space, which would create plenty of room. Luke Schenn and Dante Fabbro are other options, though they are more critical to the team’s immediate success.