5 Underrated Players Available in 2026 NHL Free Agency

The NHL's annual unrestricted free-agent market begins on July 1 at noon ET.

It is usually a time when general managers rush to sign up the best available talent within hours of the market opening. However, the pickings are slim this year, with all the top pending UFAs re-signing with their current teams months beforehand.

The remaining notable stars, such as power forward Alex Tuch of the Buffalo Sabres and puck-moving defenseman Darren Raddysh of the Tampa Bay Lightning, could be snapped up quickly, provided they haven't re-signed with their respective clubs before July 1.

However, there could be several underrated players available for clubs seeking skilled talent at affordable prices. Here's a look at five that could draw plenty of attention this summer.

Michael Bunting, Dallas Stars

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A well-traveled veteran, Michael Bunting has played for the Arizona Coyotes, Toronto Maple Leafs, Carolina Hurricanes, Pittsburgh Penguins, Nashville Predators, and Dallas Stars in his seven NHL seasons.

Bunting's best seasons were his two with the Toronto Maple Leafs, including a career-high 23 goals and 63 points in 2021-22, followed by another 23-goal performance in 2022-23. His production has tumbled since then as he's bounced around the league, but he still has value as an agitating middle-six forward.

Completing a three-year contract, the 30-year-old Bunting earned an average annual value of $4.5 million. He won't get that much again because of the decline in his offense. Nevertheless, his style of play and ability to play either wing could make him enticing for clubs seeking experienced checking-line depth.

Bunting could be an affordable gamble on a one-year deal as a bargain signing for half of his current AAV. His best days as a scorer are behind him, but he could see some improvement in that area with the right club.

Jason Dickinson, Edmonton Oilers

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After spending nearly four seasons with the Chicago Blackhawks, Jason Dickinson was shipped to the Edmonton Oilers before the March trade deadline.

The 30-year-old forward can play center or left wing and is in the final season of a two-year contract with an average annual value of $4.3 million.

A first-round pick (29th overall) of the Dallas Stars in 2013, Dickinson has spent parts of 11 NHL seasons with the Stars, Vancouver Canucks, Chicago Blackhawks and Edmonton Oilers.

The 6'2", 200-pounder had a career-high 22 goals and 35 points with the Blackhawks in 2023-24, but he's mostly used as a versatile checking-line forward.

Dickinson excels as a shutdown forward and penalty-killer. The fact that the Oilers gave up a conditional first-round pick in 2027 to acquire him is a sign of his value as a defensive forward. He's indicated his willingness to re-sign with the Oilers, but it remains to be seen if they can afford him.

Teams seeking to improve their checking-line depth, especially on the penalty kill, will be interested in Dickinson. He could prove to be an affordable signing on a three or four-year deal at a cost not much higher than his current cap hit.

Mario Ferraro, San Jose Sharks

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A defense-first blueliner, Mario Ferraro was chosen in the second round of the 2017 draft by the San Jose Sharks. He's spent his entire seven-year career with the Sharks through their rebuilding process and has yet to play in the postseason.

On Apr. 22, Josh Frojelien of San Jose Hockey Now reported that Sharks general manager Mike Grier said Ferraro is expected to test the free-agent market. The 27-year-old defenseman is completing a four-year contract with an average annual value of $3.3 million, and will seek a more lucrative, long-term deal.

Ferraro's time with the rebuilding Sharks hurt his overall defensive stats. However, he's a smooth-skating rearguard who can log big minutes in a shutdown role. He was their leader in hits (955 in total) and shot-blocking (920 in total) during his tenure, and among their leaders in takeaways.

A playoff club seeking an experienced, physical top-four defenseman to pair alongside a puck-moving blueliner could come calling for Ferraro, who could get around $6.5 million on his next deal. He could thrive playing on an established contender.

Ilya Mikheyev, Chicago Blackhawks

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Ilya Mikheyev made his NHL debut with the Toronto Maple Leafs as an undrafted free agent in 2019-20. He's carved out a seven-year career as a middle-six forward with the Maple Leafs, Vancouver Canucks, and Chicago Blackhawks.

The 31-year-old winger is completing a four-year contract with an average annual value of $4.8 million. He received a contract extension offer from Chicago, which opted not to move him at the March trade deadline, but he turned it down.

Mikheyev could still re-sign with Chicago. If he tests the market, however, he shouldn't have much difficulty landing with another NHL team. He's a versatile forward who can play either wing and move up and down a roster as required. He has exceeded 30 points in four of the past five seasons.

If he looks elsewhere, Mikheyev could seek a four-year deal worth up to $5.5 million, but could end up settling for less if he doesn't get picked up within the opening days of free agency. His speed and two-way skills would make him a good addition for clubs searching for experienced middle-six forwards.

Eeli Tolvanen, Seattle Kraken

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A first-round pick (30th overall) of the Nashville Predators in the 2017 NHL Draft, Eeli Tolvanen spent just over four seasons with the Predators before he was traded to the Seattle Kraken during the 2022-23 season.

Tolvanen was expected to become a scoring winger, but he's been used as a middle-six winger during his NHL career. The 27-year-old tallied a career-high 23 goals last season and 41 points in 2023-24 with the Kraken. He is completing a two-year contract with an average annual value of $3.5 million.

A versatile forward who can play either wing, Tolvanen isn't afraid to drive to the net. He possesses a strong one-timer and a terrific wrist shot. Given his age and offensive skills, he could flourish with a playoff contender seeking depth among their middle-six forwards, especially on the power play.

Tolvanen's offensive inconsistency thus far will work to the advantage of teams interested in signing him. He could be a good depth addition on a two or three-year contract with an AAV that might be slightly higher than his current deal.

Stats via NHL.com. Salary cap and contract info via PuckPedia.