9 Underrated Signings from 2026 NHL Free Agency
As summer settles in and free agency slows to a crawl, it's time to take stock of the chaos wrought across the NHL. From teams signing new players to new deals or re-signing their own stars, there's been a lot of cash splashed around the league.
While we took a look at all of the deals signed, we've seen more than a few that made us nod our heads in appreciation for their savviness. Be it from the years, the money, the way those teams danced around paying out more money or a combination of all of it, part of the general manager's job is to pull the right switches.
We've picked out a handful of contracts that we wanted to dap up for taking care of business in the best kind of way by flying under the radar (even if the players involved are stars).
John Carlson, Tampa Bay Lightning
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Contract: Two years, $17 million; $8.5 million cap hit
Carlson was arguably the best defenseman available in free agency and was so good last season with the Capitals and Ducks that the Hurricanes traded for his rights after the playoffs to get a few days to negotiate a contract with him. Carolina's plan didn't work and turned into the Tampa Bay Lightning's gain.
That number looks gaudy for a two-year deal, it's true, but for what Carlson is still capable of doing at 36 years old, his ability to add to a team's power play and his overall game, he's a great fit for the Lightning and a great value at the right number of years for an older player.
Mario Ferraro, Winnipeg Jets
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Contract: Three years, $12 million; $4 million cap hit
We know things are a bit up in the air for Winnipeg while Connor Hellebuyck rumors swirl around, but adding a defenseman like Mario Ferraro for three years at $4 million a year is a good deal to give Josh Morrissey and Neal Pionk some defensive-minded help.
Ferraro's fancy stats weren't terribly strong in his time with San Jose, but the Sharks weren't particularly strong either.
He defends well, blocks shots, throws the body; he's basically a coach's dream. If Hellebuyck stays with the Jets, he will be happy to have Ferraro there.
Ryan Shea, Edmonton Oilers
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Contract: Five years, $20 million; $4 million cap hit
We understand that Ryan Shea probably isn't a household name, but after watching him play in Pittsburgh last season, those who know ball (er, puck) know Shea had a solid year. He thrived under new coach Dan Muse, and his all-around steady play is something the Oilers coveted.
What makes Shea's signing stand out is that he'll be able to do a lot of what Darnell Nurse did in Edmonton at more than half the cost. Nurse's $9 million-plus cap hit made him seem overpaid for what he provided.
The Oilers will hope Shea can do all of those things at a more palatable price point. If he does what he did with the Penguins, that'll do just fine.
Olen Zellweger, Buffalo Sabres
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Contract: Three years, $9.3 million; $3.1 million cap hit
Savvy moves and deals for defense are all the rage this offseason and the Sabres got in on the act by acquiring Olen Zellweger from Anaheim. The move cost them a second-round pick, but after trading Bowen Byram to Chicago, they needed an applicable replacement.
Zellweger's skills resemble what Byram can do and after re-signing him to a three-year deal worth $3.1 million a year, they were able to halve what they paid Byram to get a younger, similar player. After Byram told the Sabres he wasn't going to negotiate a long-term deal and he had no plans to stay in Buffalo, GM Jarmo KekƤlƤinen did well all-around to add Zellweger and lock him in place for three years.
Jakub DobeÅ”, MontrĆ©al Canadiens
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Contract: Three years, $16+ million; $5.357,575 cap hit
Canadiens GM Kent Hughes has been operating at a different level than the majority of his peers when it comes to locking down his young star players, and the new extension for goalie Jakub DobeÅ” is no different. Paying a starting goalie just over $5 million a year is just about the going rate these days, but how long goalies last as the top guy is a matter of the dark arts that no one has solved as yet. Easiest way to dance around it is shorter term and getting DobeÅ” done for three years pushes a potentially hard conversation down the road.
The Habs also have a young prodigy right behind DobeÅ” in Jacob Fowler and while having too much goaltending could be a problem, it's not right now with DobeÅ” being the absolute No. 1. Although DobeÅ” can be a UFA at the end of this contract, he'll be able to cash in with MontrĆ©al or someone else when it's up or the Canadiens can pivot to Fowler if things go sideways and DobeÅ”'s contract won't be a backbreaker to deal with.
Mavrik Bourque, Nashville Predators
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Contract: Six years, $33 million; $5.5 million cap hit
The Dallas Stars' pain in dealing with Jason Robertson turned into the Nashville Predators' gain by acquiring young forward Mavrik Bourque.
The only downside for the Preds is they had to re-sign Bourque and the deal they got him locked in at proved why Dallas wasn't going to be able to hang onto him.
A six-year deal at $5.5 million per year sounds beefy, but with Bourque just 24 years old and more offense expected from him along with everything else he's learned in Dallas, the Predators bought low via trade to pay market value for a potential star.
Buying up UFA years costs money, but walking him to UFA with a shorter deal wasn't going to happen.
Egor Chinakhov, Pittsburgh Penguins
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Contract: Three years, $18.75 million; $6.25 million cap hit
One of the best moves from last season saw the Penguins pull Egor Chinakhov out of Columbus and turn him into an electrifying complementary scorer alongside Evgeni Malkin and Sidney Crosby. He put up 36 points in 43 games with the Penguins including 18 goals and with how well he fit in, the sky seems to be the limit.
Re-signing a guy with those kinds of results with that brand of energy for three years and just over $6 million a year sounds like buying in on the ground floor. Even though it's easy to be negative and wonder if GM Kyle Dubas paid up for a guy on a long heater, the spark provided by his arrival and how he was integral to the Penguins returning to the playoffs makes giving him three years a safe way to hedge their bets. If he continues to play well, they can worry about a new contract in a few years. If not? Well, three years isn't too long.
Oliver Bjorkstrand, New York Rangers
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Contract: One year, $4.5 million
As grim as last season was for the Rangers, their offseason has been sort of good? Landing Pavel Dorofeyev was a great addition (even with the hefty contract) and while dealing Vincent Trocheck hurts, Sean Durzi makes the defense more mobile. But the Rangers need solid depth and adding Oliver Bjorkstrand on a one-year deal can do a lot for them.
If Bjorkstrand excels, he can help make the Rangers attack deeper and more efficient and if it leads to more wins, the playoffs are possible. If he plays well but the Rangers struggle, he immediately becomes a favorite to be moved by the trade deadline to help the Rangers acquire assets for the future. His contract is fine and easy to move in a pinch and he's a veteran player who's capable in all situations.
Ivan Demidov, MontrƩal Canadiens
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Contract: Eight years, $73 million; $9.125 million cap hit
It's kind of wild how Ivan Demidov has played one full year in the NHL and is already slated to make more than $9 million a year after signing his eight-year extension with the Canadiens. But his contract is a great example of how smart it is to get ahead of the market.
Demidov signed his extension right away when he was eligible to on July 1. Two days later, Leo Carlsson signed his offer sheet with Philadelphia worth $18 million a year over five years, almost twice as much AAV as Demidov's whopper of a contract.
The Canadiens locked up a potentially game-breaking player who is still growing and evolving in the NHL long before the Flyers shattered the market.
It's still possible that Demidov's contract ages poorly and the future isn't predetermined, but GM Kent Hughes recognizing an elite talent and getting them squared away was more important than potentially having another team do it for you more painfully. Especially when there are already offer-sheet-happy rivals out there ready to inflict pain.
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