The NHL offseason in 2025 is proving to be anything but quiet, with contract negotiations, free agency rumors, and the looming presence of a generational prospect all shaping the league’s landscape. As August draws to a close, fans and executives alike are glued to the latest developments involving superstars like Connor McDavid and Jack Eichel, while the Toronto Maple Leafs’ pursuit of Jack Roslovic and the ripple effects of Gavin McKenna’s draft eligibility add layers of intrigue to an already eventful summer.
Let’s start at the top: the hockey world’s eyes remain fixed on Connor McDavid and the Edmonton Oilers. The Oilers’ captain, widely regarded as the best player on the planet, has just one year left on his current contract. According to Sportsnet insider Elliotte Friedman, contract extension talks are ongoing, but the clock is ticking. "At the start of camp, I could see it. I just think everyone wants to get it done," Friedman shared on his 32 Thoughts podcast, reflecting a sense of urgency and optimism on both sides. GM Stan Bowman echoed these sentiments in late July, stating he was “very encouraged” by his early conversations with McDavid’s agent, Judd Moldaver. Both the Oilers and McDavid appear motivated to strike a deal before the start of training camp, aiming to avoid any distractions as the season approaches.
McDavid’s on-ice performance last season only amplifies the stakes. He notched 26 goals and 100 points in just 67 games, marking his seventh career 100-point campaign. He then led the playoffs with 33 points, underscoring his status as the league’s premier offensive force. With his current contract set at a $12.5 million average annual value (AAV), speculation is mounting that McDavid could command the highest salary in NHL history, potentially eclipsing teammate Leon Draisaitl’s $14 million AAV deal. The question isn’t if the extension will happen, but when—and just how large the number will be.
While McDavid’s negotiations dominate headlines, another elite center is generating buzz: Jack Eichel of the Vegas Golden Knights. Eichel, entering the final year of his eight-year, $80 million contract, just wrapped up the most productive season of his career, tallying 28 goals and 66 assists for 94 points in 77 games. Insider Frank Seravalli predicted Eichel’s next deal could see him earn upwards of $15 million per year, a figure that would place him among the league’s highest-paid players. "I don't know how they could move on from him, but looking at their cap table, it's hard to wedge in; I think what you're talking about is a $15 million+ AAV deal," Seravalli remarked, highlighting Vegas’s salary cap challenges.
Despite the financial hurdles, there’s a strong sense that Eichel’s future remains in Las Vegas. Elliotte Friedman, another plugged-in voice, stated, "I think he's staying in Vegas; he's probably just waiting to see how the market is set, and then he locks himself in." The Golden Knights’ recent acquisition of superstar winger Mitch Marner, who is expected to skate alongside Eichel, only strengthens the case for a long-term partnership. After an up-and-down tenure with the Buffalo Sabres, Eichel has found his stride in Vegas, and both management and fans are eager to see him remain the centerpiece of their championship ambitions.
The Toronto Maple Leafs, meanwhile, are making headlines of their own as they look to fill a key roster spot left vacant by the departure of Mitch Marner. The focus has shifted to free agent Jack Roslovic, with insiders Frank Seravalli and Elliotte Friedman both reporting that Toronto remains the frontrunner to sign the 28-year-old forward. Roslovic is coming off a solid season with the Carolina Hurricanes, where he posted 22 goals and 17 assists for 39 points in 81 games. That goal total would have ranked him sixth among Maple Leafs skaters last year—a valuable asset for a team looking to bolster its offensive depth.
Roslovic’s potential fit in Toronto is bolstered by his history with superstar Auston Matthews; the two played together at the US National Development Team. "It makes sense to me because he has a history with Auston Matthews," Friedman explained. Should Roslovic join the Leafs, he’d likely find himself on a line with Matthews and Matthew Knies, a tantalizing prospect for fans and management alike. The deal may come in the form of a professional tryout (PTO), with a cap hit not expected to exceed $2 million—a figure that fits within Toronto’s projected $1.92 million in available cap space, provided they can clear some salary by waiving players like Calle Jarnkrok or David Kampf.
But perhaps the most fascinating subplot of the summer centers around a player who hasn’t even entered the NHL yet: Gavin McKenna. The 17-year-old Canadian forward, who dominated the WHL with 41 goals and 88 assists for 129 points in 56 games for the Medicine Hat Tigers, is already being touted as the consensus first overall pick in the 2026 NHL draft. His prodigious talent has had an unexpected side effect: it’s frozen the market for offer sheets among restricted free agents. Teams are wary of surrendering unprotected first-round picks, knowing that a single misstep could cost them the chance to draft a franchise-altering player like McKenna.
This caution has directly impacted negotiations for players like Mason McTavish of the Anaheim Ducks. Despite a breakout season—22 goals and 30 assists for 52 points in 76 games—no team was willing to risk an offer sheet for McTavish, fearing the steep compensation. "I really believe the whole thing with Gavin McKenna [first rounders required in offer sheet] has terrified teams from doing the offer sheet," Friedman revealed on his podcast. The result? Stalled negotiations for McTavish and others, and a new level of strategic conservatism among general managers across the league.
Even established playoff contenders like the Detroit Red Wings have been forced to reconsider their approach. Injuries, bad luck, or an unexpected slide could land any team in the draft lottery, making every first-round pick more valuable than ever. The specter of McKenna has reshaped the entire free agency and trade market, with teams prioritizing future flexibility over immediate upgrades.
As training camps approach, the NHL’s summer drama shows no signs of slowing down. Will the Oilers and McDavid announce a record-breaking extension before the first puck drops? Can Vegas find a way to keep Eichel in gold and black for years to come? And will the Maple Leafs land Roslovic to fill the void left by Marner’s departure? One thing’s for sure: with stars negotiating mega-deals, free agents weighing their options, and a teenage phenom already shifting front-office philosophies, the 2025 offseason is redefining what it means to build for the future in the NHL.
With so many moving parts and high-stakes decisions still to be made, hockey fans have plenty of reasons to keep their eyes on the headlines as September draws near.
