NHL Free Agency 2026: Why This Year’s Market Looks Surprisingly Thin

For those who love transactions and the excitement around them, we have bad news.

If you thought the NHL’s trade deadline was lacking intrigue, prepare to be suitably underwhelmed when free-agency kicks off July 1.

What was already a thin market took another hit a few days ago when Nick Schmaltz re-signed with the Utah Mammoth, inking an eight-year, $64-million pact and forgoing a chance to hit the open market.

Now, we can understand if the more casual fans are not versed in what Schmaltz can bring to the table, but rest assured there would have been plenty of clubs interested in signing the center.

Schmaltz, who has netted a career-high 24 goals and with 59 points is only a handful back of his best season, would but a top-liner on many teams. Certainly he would be a fantastic scoring second-liner on the truly elite clubs.

This has been quite the year of seeing skilled players, especially forwards, re-sign instead of hitting free agency. Connor McDavid (Edmonton Oilers), Kirill Kaprizov (Minnesota Wild), Jack Eichel (Vegas Golden Knights), Artemi Panarin (Los Angeles Kings, shortly after being acquired from the New York Rangers), Adrian Kempe (Kings), Martin Necas (Colorado Avalanche) and Kyle Connor (Winnipeg Jets) signed extensions and scuttled what could have been an incredible free-agency class.

Even middle-lineup players such as Kiefer Sherwood of the San Jose Sharks and Mike Matheson of the Montreal Canadiens decided to re-sign.

What does that leave us with?

There are a bunch of players who appear most likely to stay with their current team, a list that includes the likes of Alex Ovechkin (Washington Capitals), Evgeni Malkin (Pittsburgh Penguins), Anders Lee (New York Islanders), Jacob Trouba (Anaheim Ducks), John Klingberg (Sharks), Patrick Kane (Detroit Red Wings), Claude Giroux (Ottawa Senators), Radko Gudas (Ducks) and Rasmus Andersson (Golden Knights).

Plus there are some who would be best-served staying where they are, such as Anthony Mantha (Penguins) and Jack Roslovic (Edmonton Oilers).

Which leaves, frankly, not much.

Alex Tuch of the Buffalo Sabres could be the most sought-after skater, certainly the most impactful forward as he heads toward his third 30-goal season.

After that, the group of forwards are mainly players who are middle-line skaters, such as Bobby McMann (Seattle Kraken), Boone Jenner and Charlie Coyle of the Columbus Blue Jackets), Vladimir Tarasenko (Minnesota Wild) and Michael Bunting (Dallas Stars).

The player with the most potential to return to stardom is Patrik Laine of the Montreal Canadiens, but that may require a “show-me” contract.

The defensemen actually provide more buzz, but we are not talking top-tier, proven stars. Andersson may re-sign in Vegas, but would be a boon to clubs wanting a big-minute two/three blueliner, although he is not lighting it up with the Golden Knights.

John Carlson was traded to the Ducks from Washington (which may be a catalyst for Ovechkin to move elsewhere if he continues his career) and Anaheim would like to keep him in the fold as their team climbs back toward Stanley Cup contender. But even with age, Carlson would command attention.

The true wildcard would be Darren Raddysh of the Tampa Bay Lightning, who at age 30 has exploded offensively with 17 goals and 58 points. You can understand him wanting to see what others will pay for his services, but it is hard to imagine a better fit than what he already has in Tampa.

Either way, the hottest action when free agency opens may be at your barbecue.