Leo Carlsson Signs $90M Flyers Offer Sheet, Set to Become NHL's Highest-Paid Player

The Philadelphia Flyers signed restricted free-agent forward Leo Carlsson to a massive offer sheet on Friday, meaning the Anaheim Ducks must now decide whether they want to match it.

The Flyers announced that the offer sheet is a five-year, $90 million contract. If the Ducks do not match it, they will receive the Flyers' first-round pick in each of the next four NHL drafts.

Regardless of whether the Flyers or Ducks sign Carlsson in the end, his average annual value of $18 million will make him the highest-paid player in the NHL, per The Athletic's Chris Johnston.

Elliotte Friedman of Sportsnet reported that the Ducks have seven days to decide on whether to match Philly's offer sheet. Friedman added that the Ducks previously "told everyone they will match any Carlsson offer sheet."

Since getting selected second overall by the Ducks in the 2023 NHL draft, Carlsson has established himself as one of the most promising, young players in the league.

After posting 29 points in 55 games as a rookie and 45 points in 76 games in 2024-25, Carlsson enjoyed his breakout campaign last season.

Appearing in 70 regular-season games, Carlsson set career highs with 29 goals and 38 assists for 67 points to go along with a plus-4 rating.

The 21-year-old Swede also starred in the playoffs, recording four goals and seven assists for 11 points in 12 games.

If the Ducks do not match the offer sheet, it could represent a huge step backward for the franchise after reaching the postseason for the first time since 2018.

Carlsson was second on the team last season in both goals and points behind Cutter Gauthier, and all signs pointed toward him being a top-line, big-minute center once again for the Ducks next season.

If Carlsson ends up with the Flyers, he will join a team that is coming off a surprising performance in 2025-26.

Picked by many to finish near the bottom of the Eastern Conference, the Flyers reached the postseason with 98 points and upset the Pittsburgh Penguins in the first round before getting swept by the eventual Stanley Cup champion Carolina Hurricanes in the second round.

The Flyers lacked a superstar last season, but they had five players finish with between 51 and 68 points, and all of them are aged 30 or younger, including Travis Konecny, Trevor Zegras and Matvei Michkov.

Acquiring a rising star like Carlsson could take the Flyers to the next level, but it also carries a great deal of risk if last season's performance proves to be a fluke.

The Flyers would be making a largely unproven player the highest-paid player in the NHL, and they would also risk sending multiple future lottery picks to Anaheim.

Offer sheets are rare in the NHL, especially when it comes to the type of money the Flyers are prepared to commit to Carlsson.

This is only the fifth offer sheet signed by an RFA since 2020. Nine were signed between 2006 and 2019, and only one of those was not matched.

The largest unmatched offer sheet in the NHL since 1998 was the five-year, $21.5 million deal forward Dustin Penner signed with the Edmonton Oilers in 2007.

There is also another pending offer sheet that has been signed this offseason, as the New Jersey Devils signed Utah Mammoth RFA forward Barrett Hayton to a one-year, $4.775 million offer sheet on Wednesday.