Overview

• Connor McDavid enters the final year of his eight-year, US$12.5-million cap-hit deal and says he is taking his time on an extension, leaving unrestricted free agency in 2026 as a possibility.
• Florida begins its bid for a third straight Stanley Cup after keeping Sam Bennett, Brad Marchand and Aaron Ekblad, though Matthew Tkachuk and Aleksander Barkov open with significant injuries.
• League cap forecasts rise to about US$104 million in 2026-27 and US$113.5 million in 2027-28, shaping top-end contracts as Toronto GM Brad Treliving notes most elite players ultimately re-sign.
• Offseason moves reset the market as Kirill Kaprizov signed an eight-year, US$136-million extension with a record US$17-million cap hit, Mitch Marner joined Vegas and Nikolaj Ehlers signed with Carolina.
• The NHL returns to the Olympics in February for the first time in 12 years, while veteran storylines include Sidney Crosby navigating a rebuild with two years left on his deal and Alex Ovechkin sitting at 897 career goals.