The Vegas Golden Knights barely had time to process their Stanley Cup Final loss before the focus shifted to what could be one of the most challenging offseasons in franchise history.
Just days after falling to the Carolina Hurricanes in six games, Vegas finds itself dealing with salary cap pressure, key contract decisions, and growing speculation that rival teams could use the offer-sheet market to make life difficult for one of the NHL’s most aggressive front offices.
Bruce Cassidy Drama Could Make Vegas a Target
Pavel Dorofeyev is set to become a restricted free agent on July 1, and his stock has never been higher. The 25-year-old followed up another strong campaign by scoring 37 goals and recording 64 points during the regular season before adding 12 goals in the playoffs, the second-highest total in the postseason.
His breakout production couldn’t have come at a worse time for Vegas’ salary cap situation.
With limited cap space available and several roster decisions still looming, many around the league believe Dorofeyev could become one of the most attractive offer-sheet targets this summer.
NHL insider Matt Larkin recently pointed out that Dorofeyev’s production has pushed him into a compensation range that would require significant draft pick payment from any team attempting to sign him away. “No matter what, Dorofeyev’s next contract will require at least a first- and third-rounder in compensation, and the next tier up of a first, second and third seems realistic too,” Larkin said.
At just 25 years old, he represents exactly the type of player teams are willing to sacrifice premium draft capital to acquire.
The bigger concern for Vegas isn’t necessarily the compensation package; it’s whether the organization can comfortably fit a new contract under the salary cap.
Larkin also suggested that the Golden Knights may not receive much sympathy from rival general managers.
“No team is riper to be offer sheeted than the Golden Knights right now, and, given the way they’ve handled the Bruce Cassidy situation, not to mention being heavily penalized for skipping a media availability, they don’t feel like a team other GMs would feel guilty about antagonizing,” Larkin added.
Golden Knights’ Cap Space Remains the Biggest Obstacle
The Golden Knights enter the 2026 offseason with roughly $4.6 million in available cap space while carrying only 15 players under contract.
That leaves little room for error. If a rival team extends an offer sheet that Dorofeyev signs, Vegas has exactly seven days to match it or let him walk for draft pick compensation.
General manager Kelly McCrimmon does have options.
One solution could (and quite possibly would) be moving goaltender Adin Hill and his $6.25 million cap hit. Such a move would create enough financial flexibility for Vegas to match nearly any realistic offer sheet Dorofeyev could receive. However, Rasmus Andersson will also need a new contract this summer, further complicating matters.
The Golden Knights also have another layer of protection available. Because Dorofeyev owns arbitration rights, Vegas could potentially avoid the offer-sheet threat if the process reaches that stage. Once arbitration is filed, a player can no longer sign an offer sheet with another team.
Still, the cleanest path forward would be reaching an agreement before free agency begins. A bridge contract would allow Vegas to retain one of its top young scorers while eliminating the uncertainty surrounding the offer-sheet market.
For now, all eyes remain on Vegas. With Dorofeyev’s value at an all-time high and rival teams looking for opportunities to exploit the Golden Knights’ cap situation, it will be fascinating to see whether anyone decides to test Vegas’ resolve in the weeks ahead.
