2026 NHL Free Agency Live Grades for the Biggest Deals
The NHL's annual free-agent market opened at noon EDT on Wednesday. Despite a lack of superstar talent among this year's unrestricted free agents, there was the usual frenzy of signings within hours of the market opening.
One reason was the salary cap rising significantly for the third straight year. It climbed from $95.5 million in 2025-26 to $104 million in 2026-27.
As a result, teams are willing to invest in the free-agent market despite the limited available talent compared to previous years.
This summer's notable UFAs included goaltender Sergei Bobrovsky, defenseman John Carlson, and winger Anders Lee. They were among the top players on our NHL Free Agency Big Board.
So where did these and other noteworthy UFAs end up during the opening day of free agency? Follow along as we provide the live grades of the day's biggest deals.
Contract info via PuckPedia unless otherwise provided
John Carlson Joins the Tampa Bay Lightning
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The Tampa Bay Lightning needed a puck-moving, right-shot defenseman to replace Darren Raddysh, who was traded to the Toronto Maple Leafs last month. They're turning to an older, more experienced option, signing John Carlson to a two-year contract worth an average annual value of $8.5 million.
Carlson, 36, is coming off an eight-year contract worth an AAV of $8 million. He wasn't going to get another long-term deal because of his age, but he is getting a slight raise over his previous one.
Despite his age, Carlson remains an effective mobile defenseman. He netted 14 goals and 60 points in 71 games divided between the Washington Capitals and Anaheim Ducks. It was the eighth time in his 17-season NHL career that he exceeded the 50-point plateau.
Carlson should be a seamless fit as a right-side, top-four defenseman on the Lightning's blue line. However, he's at the stage of his career when a decline in performance is inevitable, which makes his new annual salary a bit of an overpayment, though the length of the deal is reasonable.
Grade: B+
Sergei Bobrovsky Bounces to the Toronto Maple Leafs
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After missing the playoffs last season for the first time since 2016, the Toronto Maple Leafs are retooling their roster, hoping to bounce back as a contender. To help them achieve that goal, they signed aging goaltender Sergei Bobrovsky to a three-year contract worth an average annual value of $7 million.
The 37-year-old Bobrovsky won the Vezina Trophy twice earlier in his 16-season NHL career with the Columbus Blue Jackets. He spent the past seven seasons as the Florida Panthers' starting goalie, backstopping them to three straight Stanley Cup Finals and two straight Stanley Cups in 2024 and 2025.
Bobrovsky completed a seven-year contract with the Panthers with an AAV of $10 million. At this stage in his career, he had to accept a pay cut on a short-term deal. Joining the Leafs reunites him with Anthony Stolarz, who was his backup with the Panthers in 2023-24.
While Bobrovsky is among the bigger names in this summer's market, this contract is a gamble for the Maple Leafs. He's coming off the worst season of his long career; his best seasons are behind him, and the Leafs lack the depth to provide him with the reliable defensive depth that he was used to in Florida.
Grade: C+
Los Angeles Kings Land Mats Zuccarello
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After seven seasons with the Minnesota Wild, Mats Zuccarello is heading for the California sunshine. According to TSN's Chris Johnston, the 38-year-old winger inked a one-year contract worth $1 million with the Los Angeles Kings, with a $5.5 million performance bonus that could take him up to $6.5 million.
Zuccarello is coming off a two-year contract worth an average annual value of $4.13 million. The Kings were seeking more offense after being among the league's lowest-scoring teams. If he performs well, he could earn an extension.
The 5'8", 181-pound Zuccarello is a small but talented playmaking winger who spent the past five seasons as the linemate of superstar winger Kirill Kaprizov. He scored 54 or more points in each of those seasons, including 54 points in 59 games last season.
Zuccarello hoped to return with the Wild, but they are reportedly busy attempting to find a first-line center. He's also getting up in years, and injuries could become a factor. Still, he should have enough in the tank to provide a boost to the low-scoring Kings.
Grade: A-
Vegas Golden Knights Retain Rasmus Andersson
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The Vegas Golden Knights acquired Rasmus Andersson from the Calgary Flames in January. However, they couldn't afford to re-sign the 29-year-old defenseman until they freed up sufficient salary cap space for 2026-27.
On July 1, the Golden Knights were sufficiently cap-compliant to sign Andersson to a seven-year contract worth an average annual value of $8.5 million. This lands just shy of the $8.65 million to $9.65 million that he was projected to get, but it's still a substantial raise from his previous AAV of $4.6 million.
Andersson skated alongside former Flames teammate Noah Hanifin on the Golden Knights' second defense pairing last season. A skilled all-around defenseman, he had 17 goals and 47 points in 81 games split between the Flames and Golden Knights.
It took Andersson some time to adjust to his new club. Nevertheless, the Golden Knights believe he will be an effective second-pairing blueliner as they attempt to maintain their place among the NHL's Stanley Cup contenders.
Grade: B+
Utah Mammoth Pick Up Anders Lee
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After 14 seasons with the New York Islanders, Anders Lee is heading to the Western Conference. The 35-year-old winger signed a three-year contract with the Utah Mammoth worth an average annual value of $5.4 million.
Lee completed a seven-year contract worth an AAV of $7 million. Given his age, he had to accept a lesser deal. Nevertheless, it's still a decent contract for a winger heading toward his late thirties, albeit one who's been a consistent producer for most of his career.
The 6'3", 234-pound Lee has reached or exceeded 20 goals and 40 points in nine of his 14 NHL seasons. Captain of the Islanders from 2018-19 to 2025-26, he also brings leadership as well as a big net-front presence to the young Mammoth roster.
Lee is at the stage of his career when his production will go into decline. Nevertheless, his size, skills, and experience should make him a solid addition to the Mammoth as a middle-third winger as they attempt to establish themselves as a future Stanley Cup contender.
Grade: B+
Jacob Trouba Jumps to the San Jose Sharks
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After a season and a half with the Anaheim Ducks, Jacob Trouba is moving up the California coast. The San Jose Sharks signed the 32-year-old right-shot defenseman to a four-year contract with an average annual value of $8.25 million.
A physical blueliner who can contribute offensively, Trouba's career seemed to be in decline after the Ducks acquired him from the New York Rangers in December 2024. However, he enjoyed a bounce-back performance with a 10-goal, 35-point performance to help the Ducks reach the playoffs for the first time since 2018.
The Sharks will look to Trouba to bring physicality, experience, and leadership to their young team, especially their blue-line corps. Whether he'll be able to do so consistently over the full term of his deal remains to be seen.
Trouba's getting a slight raise over the $8 million AAV of his previous deal, and the Sharks have the cap space to afford it. Nevertheless, he's approaching his mid-thirties when players tend to decline, and his style of play could be harder to maintain.
Grade: B-
Edmonton Oilers Sign Frederik Andersen
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Goaltending has been a weak spot for the Edmonton Oilers in recent years. To address the issue, they turned to Frederik Andersen, who helped the Carolina Hurricanes win the Stanley Cup this spring.
Andersen, 36, signed a one-year contract with a base salary of $1 million. He'll also get a $1.8 million performance bonus that could take him up to $2.8 million, which is just slightly more than the $2.75 million he earned on his one-year deal with the Hurricanes.
Injuries have hampered Andersen over the past four seasons. When healthy, he's a solid veteran goaltender who steps up his play in the postseason. He finished the 2026 playoffs with a record of 13-2, a 1.89 goals-against average and three shutouts.
Andersen will split the Oilers' goaltending duties with the inconsistent Tristan Jarry. He could help push the latter to step up his game. If he can avoid further injuries, Andersen could prove to be a cost-effective short-term boost between the pipes for Edmonton.
Grade: B+
San Jose Sharks Snag Mason Marchment
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After spending the past eight seasons with five NHL clubs, Mason Marchment lands with a team that's giving him a long-term home. The 31-year-old forward has signed a five-year contract with the San Jose Sharks worth an average annual value of $6.75 million.
That's a substantial raise for the well-travelled Marchment, who is coming off a four-year contract with an average annual value of $4.5 million. It's also a homecoming for him. His father, the late Bryan Marchment, spent six seasons with the Sharks from 1997-98 to 2002-03.
The 6'5", 212-pound Marchment is a big, physical power forward who played an agitating style. He also has a good scoring touch, netting 45 or more points four times, including last season between the Seattle Kraken and Columbus Blue Jackets.
Marchment will also bring experience and toughness to the rebuilding Sharks. If he can fit in well within their system, he could be a worthwhile addition to their lineup.
Grade: B+
Viktor Arvidsson Motors to the Detroit Red Wings
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After spending the past three seasons with the Los Angeles Kings, Edmonton Oilers, and Boston Bruins, Viktor Arvidsson is on the move again. The 33-year-old winger signed a two-year contract with the Detroit Red Wings worth an average annual value of $5 million.
Arvidsson endured two disappointing injury-shortened seasons with the Kings and Oilers. However, he bounced back in 2025-26 with 25 goals and 29 assists for 54 points in 69 games, finishing fifth among Bruins scorers.
The Bruins reportedly wanted to bring back Arvidsson, but he opted for a better deal with the Red Wings. It's a $1 million raise over his previous AAV of $4 million.
Arvidsson's age and his injury history remain a concern. If healthy, he should address the Red Wings' need for a top-six scoring winger, at least in the short term.
Grade: B+
Winnipeg Jets Land Mario Ferraro
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Most of the focus on the Winnipeg Jets in recent weeks has been on the uncertain future of superstar goaltender Connor Hellebuyck. While that remains to be determined as the offseason progresses, Jets general manager Kevin Cheveldayoff has added some experienced depth to his defense corps.
Cheveldayoff turned to Mario Ferraro, signing the former San Jose Sharks defenseman to a three-year contract worth an average annual value of $4 million. It's a slight raise over the $3.3 million of his previous contract, but it is also less than the $5.1 million he was projected to get on the open market.
Ferraro, 27, is among the youngest of the notable players in this summer's thin UFA market. The 5'11", 200-pound blueliner played a physical stay-at-home style, averaging over 21 minutes of ice time per game in his seven-season NHL career.
The Jets could slot Ferraro on the left side of their second defense pairing, but he could also drop down to the third pairing behind Dylan Samberg. He can also move up and down the lineup as needed if injuries strike. His contract is a reasonable one, and he should be a solid fit for the Jets' defense corps.
Grade: B+
Stuart Skinner Flies Off to the Winnipeg Jets
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Speculation over the future of Winnipeg Jets superstar goaltender Connor Hellebuyck is dominating the rumor mill. That chatter will only increase after the Jets signed Stuart Skinner to a two-year contract worth an average annual value of $3.75 million.
Skinner, 27, spent seven seasons with the Edmonton Oilers, backstopping them to back-to-back Stanley Cup Finals in 2024 and 2025. However, his inconsistent performance and declining save percentage led to his trade to the Pittsburgh Penguins last December.
Things didn't get much better for Skinner in Pittsburgh. He helped them make the playoffs, but dropped all three of his postseason appearances. With promising young goalies Artūrs Šilovs and Sergei Murashov in their system, the Penguins let Skinner depart as a free agent.
Skinner's getting a reasonable raise over his $2.6 million AAV from his previous deal. His signing could be insurance for the Jets in case Hellebuyck is traded this summer. He could also be a worthwhile backup if Hellebuyck stays, provided he's not required to carry too much of a workload.
Grade: B
Boone Jenner Joins the Washington Capitals
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NHL fans are fixated on reports that the Columbus Blue Jackets could part ways with defenseman Zach Werenski and winger Kirill Marchenko. Meanwhile, the player who holds the franchise record for games played (808) has moved on to a new NHL club.
After 13 seasons with the Blue Jackets, Boone Jenner has joined the Washington Capitals. The 33-year-old forward inked a four-year contract worth an average annual value of $5.8 million. He's getting the same number of years as his previous deal, but a substantial raise over his previous AAV of $3.8 million.
The Capitals will look to the 6'2", 204-pound Jenner to add more physicality, leadership and experience to their third line. A versatile forward who can play center or left wing, he's exceeded 20 goals four times and 40 or more points three times.
Injuries have been a concern for Jenner, limiting him to 68 or fewer games over the past five seasons. Given his age and his style of play, this contract probably won't age well, but if he can remain reasonably healthy, he should be a solid third-line forward for the first two years of this deal.
Grade: B
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