Potential Destinations and Contracts for NHL's Top UFAs

The NHL's free-agent period usually opens at noon ET on July 1. Because of the COVID-19 pandemic's effect on the league's calendar, it's been shifted to Friday. With the salary cap remaining at $81.5 million for 2020-21, it could affect where the top unrestricted free agents sign and how much they will get on their new contracts.

Several notable players could be poised to test the market. St. Louis Blues defenseman Alex Pietrangelo will interest clubs seeking a top-two blueliner. Teams in need of a scoring winger will pursue Arizona Coyotes left wing Taylor Hall. Those looking for an experienced starting goalie could target Washington Capitals netminder Braden Holtby.

Where could the top UFAs go, and how much could they get? Here are our predictions based on recent media speculation, salary-cap space and roster needs.

Taylor Hall to the Colorado Avalanche

Rick Scuteri/Associated Press

As the top forward among this year's potential unrestricted free agents, Arizona Coyotes left wing Taylor Hall won't lack for suitors if he hits the open market. Perhaps the best fit could be with the Colorado Avalanche.

Hall, 28, is a former Hart Memorial Trophy winner who's had limited playoff experience in his 10-year NHL career. He could seek an opportunity to play for a Stanley Cup contender if he tests the market. The Avalanche, meanwhile, are a rising force that could be just one key player away from a championship.

The Coyotes already have $78.9 million invested in 17 players for 2020-21, though they can get $5.3 million in additional wiggle room by placing permanently sidelined winger Marian Hossa on long-term injury reserve. They are also trying to trade defenseman Oliver Ekman-Larsson in a cost-cutting move. Given their ongoing on-ice struggles, however, that might not be enough to keep Hall in the fold.

Cap space isn't an issue for the Avalanche, who have $59.1 million invested in 14 players. Even with restricted free agents such as Andre Burakovsky, Ryan Graves and Nikita Zadorov to re-sign, they should have enough to pursue a big fish like Hall.

Hall is completing a seven-year deal worth $6 million per season. On Saturday, Sportsnet's Chris Johnston reported (h/t Kukla's Korner) that Hall would be open to one- or two-year contract offers from interested clubs. An opportunity to pursue the Cup with the Avalanche might be enticing if they offered up a one-year deal worth $7.5 million.

Mike Hoffman to the New Jersey Devils

Matt Slocum/Associated Press

Florida Panthers winger Mike Hoffman was the leading scorer among this year's UFA class, tallying 29 goals and 59 points in 69 games. Those numbers could make him a prime target for the New Jersey Devils.

A lack of scoring punch was a key factor in the Devils' inability to reach the 2020 playoffs. Their 2.68 goals per game ranked 24th overall. They must bolster their production if they hope to become a playoff contender in 2020-21.

Hoffman will turn 31 on Nov. 24, but he's shown impressive scoring consistency. He's tallied 22 or more goals and 48-plus points in each of the past six seasons. He was on pace to exceed 30 goals and 65 points before the regular season was derailed by the COVID-19 pandemic.

According to TSN's Pierre LeBrun (h/t to CBS Sports), Hoffman could test the UFA market. New general manager Bill Zito is apparently reluctant to risk overpaying the winger.

That's where the Devils could come in. They have $55.3 million invested in 13 players and should have sufficient cap room to add a free-agent scorer once they re-sign restricted free agents such as Mackenzie Blackwood and Jesper Bratt.

Hoffman is completing a four-year contract with an annual average value of $5.2 million. Given his age and the flattened cap, the Devils might be able to sign him to a four-year deal worth $6 million annually.

Braden Holtby to the Carolina Hurricanes

Nick Wass/Associated Press

Braden Holtby has spent his entire 10-year NHL career with the Washington Capitals. However, the 31-year-old is expected to become an unrestricted free agent, which creates an opportunity for the Carolina Hurricanes to bring him in and bolster their goaltending.

The Hurricanes' current goalie tandem of Petr Mrazek and James Reimer is affordable at a combined $6.5 million for 2020-21. However, they lack Holtby's impressive resume, which includes the Vezina Trophy in 2016 and a Stanley Cup in 2018.

If the Hurricanes hope to become serious Cup contenders, they must acquire a reliable starting goalie. Given their deep defense corps, Holtby could become the final piece of their championship puzzle.

With $73.7 million tied up in 17 players, the Hurricanes must shed some salary to bring in Holtby. Trading one of their netminders would help them free up that extra cap space. They could also attempt to move a winger such as Ryan Dzingel, who's a year away from UFA eligibility.

Holtby is completing a five-year contract worth an annual cap hit of $6.1 million. Because of his age and struggles last season, the Hurricanes could be unwilling to invest in his services for too long, especially under a flat cap. A two-year deal worth $6.5 million per season might be worthwhile and give him the opportunity to backstop another potential Cup contender.

Torey Krug to the Detroit Red Wings

Winslow Townson/Associated Press

Barring a last-minute deal with the Boston Bruins, defenseman Torey Krug will become an unrestricted free agent Friday, and the Detroit Red Wings would be a perfect destination.

Krug, 29, is a native of Livonia, Michigan, played his college hockey at Michigan State and grew up as a big Red Wings fan. The opportunity to play for his home-state team could be tempting.

The Wings are a rebuilding club in need of skilled blue-line depth. The puck-moving Krug could be a terrific addition, especially on the power play. He could also bring some experience and leadership to young Wings defensemen Moritz Seider and Filip Hronek.

With $53.3 million invested in 13 players, the Wings have lots of salary-cap space. Even after they re-sign restricted free agents Anthony Mantha and Tyler Bertuzzi, they would have enough to make Krug a lucrative offer.

Krug is coming off a four-year contract worth an annual cap hit of $5.3 million. On Sept. 28, TSN's Frank Seravalli reported the Bruins' latest offer was a six-year deal at $6.5 million annually. The flattened salary cap could limit the number of suitors willing to invest big money in free-agent talent, but that could work to the Wings' advantage, perhaps allowing them to land him on a five-year deal worth $7 million per season.

Jacob Markstrom to the Calgary Flames

Michael Dwyer/Associated Press

Sportsnet's Iain MacIntyre reported Sunday that re-signing Jacob Markstrom remains the Vancouver Canucks' priority. With free agency closing in, however, the 30-year-old goaltender could become available. The Calgary Flames could be the leading suitor to sign him away from their Pacific Division rival.

Calgary will need a reliable starter if it doesn't re-sign Cam Talbot. On Monday, the Calgary Sun's Wes Gilbertson reported Flames general manager Brad Treliving could have Markstrom in his sights.

After completing a three-year deal worth an annual cap hit of $3.7 million, Markstrom could be seeking a lucrative long-term contract. The Canucks might be willing to offer $5.5 million annually but could be reluctant to invest too much for too long in a goalie who turns 31 on Jan. 31.

The Flames, on the other hand, might not be so hesitant. Treliving could be under pressure to improve his roster after their early playoff exits the last two seasons.

The contract terms could be important to Markstrom given the uncertainty over the salary cap in the coming years. Depending on the free-agent market, a five-year offer by the Flames worth $6 million annually might draw him to the Stampede City.

Alex Pietrangelo to the Vegas Golden Knights

Jeff Roberson/Associated Press

The best player among this year's crop of unrestricted free agents, St. Louis Blues defenseman Alex Pietrangelo is considered among the NHL's elite blueliners. On Sept. 27, the Las Vegas Review-Journal's David Schoen cited multiple reports claiming the Vegas Golden Knights will aggressively pursue him if he decides to test the open market on Friday.

The Golden Knights are in win-now mode. In their three-year history, they have reached the Western Conference Final twice and advanced to the Stanley Cup Final in 2018. Schoen believes team owner Bill Foley's financial clout and pursuit of the Cup makes the Golden Knights among the few clubs that will spend toward the salary cap.

Adding Pietrangelo would provide a significant boost to the Golden Knights' defense corps. His championship experience and leadership would be invaluable in their chase for hockey's ultimate prize.

The Golden Knights are already over the cap ceiling after re-signing goaltender Robin Lehner. Trading goalie Marc-Andre Fleury could free up $7 million, but they would still need to shed a little more to make room for Pietrangelo. TSN's Frank Seravalli reported Tuesday they are trying to complete a three-way trade to move Fleury's contract.

Assuming the Golden Knights can find a way to make it work, they could sign Pietrangelo to a five-year contract worth $8.75 million per season. That would be a substantial raise over the $6.5 million annual cap hit of his previous deal while providing the veteran defenseman with an opportunity to continue playing for a Stanley Cup contender.

Salary info via CapFriendly.