NHL Trade and Free Agency Rumors: A Summer of Blockbuster Moves

The NHL offseason is buzzing with blockbuster trade rumors and free agency speculation. From Pittsburgh’s bold roster reset to Toronto’s pursuit of elite talent, teams are making moves that could redefine the 2025-26 season. Dive into the latest updates on key players and potential deals shaking up the league.

Pittsburgh Penguins

The Pittsburgh Penguins are gearing up for a major roster overhaul, aiming to clear cap space and infuse youth into their lineup while keeping core stars Sidney Crosby, Evgeni Malkin, and Kris Letang. Several veterans are reportedly on the trade block.

Erik Karlsson (D): Pittsburgh is open to trading the skilled defenseman as part of their rebuild. Karlsson’s offensive flair and puck-moving ability make him a prime target for teams needing a top-pairing blueliner, but his $10 million cap hit through 2026-27 poses challenges. No specific suitors have emerged, but his availability reflects the Penguins’ shift toward a younger roster.

Rickard Rakell (RW): The 32-year-old winger, fresh off a career-high 35 goals and 70 points in 2024-25, is a hot commodity, with the Los Angeles Kings showing strong interest. Rakell’s $5 million cap hit through 2027-28 is a bargain for his production, and the Kings, led by new GM Ken Holland, may offer prospects like Alex Turcotte or Alex Laferriere.

Bryan Rust (RW): Rust, another veteran winger, is available as Pittsburgh looks to shed salary. With 27 goals and 56 points in 2024-25 and a $5.125 million cap hit through 2027-28, Rust could appeal to contenders seeking scoring depth. No specific trade partners have been linked, but his inclusion in trade talks underscores Pittsburgh’s aggressive retooling.

New York Rangers

Following a lackluster 2024-25 season, the New York Rangers are in the midst of a roster shake-up, highlighted by the trade of Chris Kreider to Anaheim. Several other players, including a key center, are now in the rumor mill.

Mika Zibanejad (C): The Rangers’ star center, known for his elite scoring and two-way play, is the subject of trade speculation with the Toronto Maple Leafs. Zibanejad, who once hit a career-high 41 goals, brings offensive dynamism and defensive reliability, making him a potential game-changer for Toronto’s championship aspirations. His $8.5 million cap hit through 2029-30 (totaling $68 million) is a significant investment, and any deal would require Toronto to navigate cap constraints while balancing the loss of assets. For the Rangers, moving Zibanejad would signal a major strategic pivot, potentially freeing up space to address other roster needs.

K’Andre Miller (D): The 25-year-old RFA defenseman is generating trade buzz due to his size, skating, and two-way ability. As a top-four left-shot blueliner, Miller is likely to draw interest from teams seeking defensive stability. The Rangers’ openness to offers suggests he could be moved as part of their retooling efforts.

Alexis Lafreniere (LW): The 2020 first-overall pick, still only 23, has struggled with consistency, fueling trade rumors. Lafreniere’s $7.45 million cap hit through 2031-32 is a long-term commitment, but his potential as a top-six winger could attract teams willing to bet on a breakout. A change of scenery might benefit both player and team.

Carson Soucy (D): Acquired midseason, the 6-foot-5 defenseman underperformed in New York, making him a trade candidate. Soucy’s size and experience could appeal to teams needing blue-line depth, but his struggles in 2024-25 have lowered his stock.

Toronto Maple Leafs

The Maple Leafs are at a crossroads, with major changes looming in free agency and a potential blockbuster trade in the works.

Mitch Marner (RW): Marner, who notched a career-best 102 points (27 goals, 75 assists) in 2024-25, will not re-sign with Toronto and is set to hit free agency on July 1, 2025. Rather than a seven-year deal, he may pursue a four-year contract, allowing him to re-enter free agency at 32. Western Conference teams like the Vegas Golden Knights, Anaheim Ducks, and Los Angeles Kings are rumored destinations, with Marner’s camp reportedly favoring a move west.

Buffalo Sabres

The Sabres are grappling with unrest from a young star, prompting a shift in their trade strategy.

JJ Peterka (RW): The 23-year-old RFA, coming off a 27-goal, 68-point season, is reportedly unhappy in Buffalo and open to a trade. Previously off-limits, Peterka is now the subject of trade inquiries, with the Sabres willing to consider serious offers. His value as a top-six winger, combined with his potential $8 million-plus AAV on a long-term deal, makes him a prime target for teams seeking young talent. An Offer Sheet is also a possibility, which could force Buffalo’s hand.

Minnesota Wild

The Wild are surprisingly active in trade talks, with a young center drawing significant interest.

Marco Rossi (C): The 22-year-old RFA, who posted 60 points in 2024-25, is being shopped by Minnesota for reasons that remain unclear. Seeking a long-term deal with an AAV of $5.625–$6.25 million, Rossi is a cost-effective option for teams needing a top-six center. Interested teams include:

Philadelphia Flyers: Rossi could fill their need for a top-six center, easing pressure on Sean Couturier and strengthening their lineup.

Montreal Canadiens: With concerns about Kirby Dach’s durability, Rossi is seen as a reliable second-line center to pair with Nick Suzuki.

Vancouver Canucks: Rossi would add depth and injury insurance behind Elias Pettersson, bolstering Vancouver’s center core.

Nashville Predators: Lacking high-end center prospects, Nashville views Rossi as a solution to their long-term needs.

Calgary Flames: With Mikael Backlund’s contract nearing its end, Rossi could step in as a top-six center alongside Nazem Kadri.

Vegas Golden Knights

The Golden Knights are managing speculation around a key forward, but their stance appears resolute.

William Karlsson (C): Despite recent trade rumors, Karlsson, 32, is likely to stay in Vegas, with multiple teams reporting that the Golden Knights are not open to moving him. His $5.85 million AAV through 2026-27 and two-way play make him a cornerstone of the roster. While some suggest specific teams may have inquired, Vegas has consistently valued Karlsson’s contributions, making a trade unlikely unless an exceptional offer emerges.

Dallas Stars

With less than $5 million in cap space, the Stars are exploring trades to maintain flexibility while keeping their core intact.

Jason Robertson (LW): The 25-year-old winger, with four straight 79-plus-point seasons, is being explored in trade talks, though Dallas prefers to retain him. His $7.75 million cap hit for 2025-26 makes him a valuable asset, but GM Jim Nill is focusing on smaller moves to create cap room.

Mason Marchment (LW), Mathew Dumba (D), Ilya Lyubushkin (D): These players, with more manageable contracts, are the Stars’ primary trade candidates. Moving one or more could free up space to address expiring deals while preserving Dallas’ competitive edge.

Anaheim Ducks

The Ducks are making waves with a recent acquisition and remain in the mix for a high-profile free agent.

Chris Kreider (LW): Acquired from the Rangers for prospect forward Carey Terrance and the 89th overall pick, Kreider aims to rebound from a 30-point season in 2024-25. His $6.5 million cap hit brings veteran leadership and playoff experience to Anaheim’s young roster.

Mitch Marner (RW): Anaheim is a rumored destination for Marner in free agency. The Ducks’ cap flexibility and rebuilding roster make them an appealing fit, though they face competition from Vegas and Los Angeles.

Los Angeles Kings

The Kings are aggressively pursuing veteran scoring to bolster their lineup.

Rickard Rakell (RW): Los Angeles is a leading suitor for Pittsburgh’s winger, with talks dating back to February 2024. Rakell’s 35 goals and $5 million cap hit align with GM Ken Holland’s vision, and prospects like Alex Turcotte or Alex Laferriere could be part of a deal.

Mitch Marner (RW): The Kings are also in the mix for Marner in free agency, positioning them as a potential destination for the star winger seeking a Western Conference home.

Retired Players

T.J. Oshie (RW): The 38-year-old winger retired after missing the 2024-25 season due to a back injury. A 2018 Stanley Cup champion with Washington, Oshie recorded 302 goals and 695 points in 1,010 NHL games.