The 2026 NHL free agency window opens July 1, and with a lack of star power on the market, the potential for more offer sheets may be heightened.
An offer sheet occurs when a team wishes to sign a restricted free agent at a known cost (one or more draft picks). The player’s contract then determines the amount returned and whether the team will match the offer.
With three months to free agency, could we see an uptick in offer sheet activity?
Top NHL Players Eligible for Offer Sheets in 2026
Just over three weeks remain in the 2025-26 NHL season. While some fanbases are gearing up for potential postseason runs, others are anticipating the upcoming NHL Draft and the opening of free agency.
Given its unique and precarious nature, NHL.com’s Dan Rosen does not expect many offer-sheet moves this summer.
“I hesitate to say we’ll see the offer sheet used in abundance because it’s still a risky tool, especially because there’s a chance you can alienate another team by using it against them,” Rosen said. “And it’s unlikely and unusual for the top players who are offer sheet eligible to change addresses because their current team refuses to match.”
Rosen continued, “What I’m saying is I would be shocked if the Chicago Blackhawks didn’t sign Connor Bedard, if the Anaheim Ducks didn’t sign Leo Carlsson and Cutter Gauthier, and if the Blue Jackets didn’t sign Adam Fantilli. They have the cap space to match any offer sheet if one came in.”
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All of the players listed by Rosen are 22 years old or younger, making the anticipated return of an offer sheet a hefty price. Furthermore, each of the aforementioned players is a key building block for Chicago, Anaheim, and Columbus, making it even less likely that the club will not match an offer.
Bedard, Fantilli, Carlsson, and Gauthier are not the only notable names, however. Rosen continues, adding splash names who may have a better chance of receiving offer-sheet compensation based on their situations.
“But what about Jason Robertson and the Dallas Stars?” Rosen asks. “They want him back and the rising cap, up to $104 million next season, means they’ll have the space to make it happen, but if a team comes in and makes Robertson an enticing offer, would the Stars consider taking the draft pick compensation instead? Unlikely, but possible.”
“The same can be said about forward Josh Doan of the Buffalo Sabres, defenseman Simon Nemec of the New Jersey Devils, defenseman Brandt Clarke of the Los Angeles Kings, defenseman Alexander Nikishin of the Carolina Hurricanes, forward Cole Perfetti of the Winnipeg Jets, and defenseman Pavel Mintyukov of the Ducks.”
In terms of contract details and the draft picks in return, these are the numbers from last year:
$1,544,424 or below: None
Over $1,544,424 to $2,340,037: Third-round choice
Over $2,340,037 to $4,680,076: Second-round choice
Over $4,680,076 to $7,020,113: First-round and third-round choice
Over $7,020,113 to $9,360,153: First-round, second-round and third-round choice
Over $9,360,153 to $11,700,192: Two first-round choices, one second- and one third-round choice
Over $11,700,192: Four first-round choices
One of the more recent notable offer-sheet moments came in 2024, when the St. Louis Blues acquired Philip Broberg and Dylan Holloway from the Edmonton Oilers. Since Edmonton elected not to match the offers, they received a second- and third-round pick as compensation.
Since joining the Blues, Holloway has elevated his game, posting 95 points in 124 games. Similarly, Broberg has increased his time on ice by nearly 10 minutes, while also registering a significantly higher number of points than he did in an Oilers sweater.
Holloway (two years at $4.58 million) and Broberg (two years at $9.16 million) have outperformed their overall $13.74 million value. With their recent production in St. Louis, the result seems to be a swing-and-a-miss from Edmonton brass.
Given the role of financial politics and the known return in the offer-sheet process, is Rosen correct in saying it is unlikely we will see much offer-sheet movement?
