NHL Free Agency opens on July 1 and it’s going to be a rather bizarre class. Operating as a preamble for the mammoth 2026 class which could be headlined by Connor McDavid and Jack Eichel, this year is light on true star power, but lands at a time where every team is desperate to get better.
This could mean that this free agency is more a lesson in restraint than spending. It’s the kind of free agency that could see teams easily over-extend in a desire to get better right now at the expense of their future cap solvency. With so few elite players and cap space to burn it’s highly likely we look back at this group of players as a turning point in the NHL, for better and for worse.
Here’s an overview of the top free five agents, followed by the list of the Top 20 guys hitting the market in 2025.
No. 1: Mitch Marner, RW, Toronto Maple Leafs
Marner is a tough player to judge. On the one hand there’s no doubt he’s the best player in this class, a legitimate 90+ point wing, and the kind of talent every team wants on their top line. On the other, there’s fair criticism about him disappearing in big games, struggling in the playoffs, and not showing the physicality needed to succeed in seven game series.
That won’t dissuade any number of teams from trying to take a run. The Carolina Hurricanes are a contender with the cap space to make it happen, though it’s unclear if Marner would want to play in Raleigh. Meanwhile there’s the Las Vegas Golden Knights, a similar contender who would be desperate to make a move in a sign-and-trade scenario.
Someone is going to pay a lot for Mitch Marner. Time will tell whether or not he’s worth it.
No. 2: Nikolaj Ehlers, LW, Winnipeg Jets
While not a superstar, Ehlers is the best high-end glue guy in this draft who can make everyone around him better. The hard-hitting Jets’ wing notched 63 points last season on an efficient Winnipeg lineup, and the Jets were desperate to retain him until he informed the organization he wanted to test free agency — all but assuring he’s leaving the team.
Ehlers is easily worthy of a $7-8M AAV contract, but could go for much more in this free agency class as desperate teams who miss out on Marner might be tempted to overspend. This is where fit comes in more than anything. Ehlers won’t be worth the money on every team, but those who understand his role will get a huge boost to their Top 6.
No. 3: Brad Marchard, LW, Florida Panthers
It doesn’t matter than Marchand is 37-years-old, he’s a tailor-made player built to bring a contending team a championship. The Panthers were good before acquiring Marchand at the deadline, but he was without a doubt the player who helped in the playoffs to bring back-to-back cups.
Marchand is the most gifted player in the NHL at infuriating opponents. He has a knack for getting under people’s skin and understands the line he needs to walk to prevent penalties. If you’re a team in need of a guy to get you over the hump after being stuck in the playoffs it’s Marchand you want.
No. 4: Aaron Ekblad, D, Florida Panthers
The 29-year-old defenseman is a force multiplier on the blue line. In an ideal world Florida would love to hold onto their alternate captain, but there doesn’t seem to be a way to make the money work, even with a beneficial negotiating position due to a Florida’s lack of income tax.
Ekblad brings strength and leadership to a defensive unit. Teams already teeming with young defenseman should line up, because Ekblad will help make everyone around him better. He’s the best defenseman in this class, and I’m not sure it’s close.
No. 5: Brock Boeser, RW, Vancouver Canucks
Brass tacks: The Canucks played this one wrong. During the 2023-24 season Boeser was one of the hottest names near the NHL trade deadline and at that point Vancouver could have gotten a haul. Instead they decided to keep Boeser for one more season and now he’s walking without anything for Vancouver to show for it.
A wing who has developed as he’s gotten older, Boeser plays less of a finesse game than he once did, instead becoming a more willing hitter on the forecheck. That’s a coveted skill off the edge and a team will definitely find a place for him.
Top 25 NHL Free Agents of 2025
| Rank | Name | Position | Age | Former Team | Expected AAV |
|---|---|---|---|---|---|
| Rank | Name | Position | Age | Former Team | Expected AAV |
| 1 | Mitch Marner | RW | 27 | Toronto Maple Leafs | $13.5M |
| 2 | Nikolaj Ehlers | LW | 29 | Winnipeg Jets | $9M |
| 3 | Brad Marchand | RW | 37 | Florida Panthers | $5.5M |
| 4 | Aaron Ekblad | RD | 29 | Florida Panthers | $8.1M |
| 5 | Brock Boeser | RW | 28 | Vancouver Canucks | $8.5M |
| 6 | Vladislav Garikov | LD | 30 | Los Angeles Kings | $7.2M |
| 7 | Ivan Provorov | LD | 33 | Philadelphia Flyers | $6.8M |
| 8 | Mikael Granlund | C | 33 | Dallas Stars | $5.3M |
| 9 | Patrick Kane | RW | 36 | Detroit Red Wings | $4M |
| 10 | Jonathan Drouin | LW | 30 | Colorado Avalanche | $4.5M |
| 11 | Dmitry Orlov | LD | 33 | Carolina Hurricanes | $6M |
| 12 | Pius Suter | C | 28 | Vancouver Canucks | $5.2M |
| 13 | Jack Roslovic | RW | 28 | Carolina Hurricanes | $4.8M |
| 14 | Corey Perry | RW | 40 | Winnipeg Jets | $1.5M |
| 15 | Jake Allen | G | 34 | New Jersey Devils | $3.6M |
| 16 | Andrei Kuzmenko | LW | 29 | Los Angeles Kings | $4.7M |
| 17 | Anthony Beauvillier | RW | 28 | Washington Capitals | $3.7M |
| 18 | Trent Frederic | RW | 27 | Edmonton Oilers | $3.5M |
| 19 | Nate Schmidt | RD | 33 | Florida Panthers | $3.1M |
| 20 | Brandon Tanev | LW | 33 | Winnipeg Jets | $2.3M |
| 21 | Matt Grzelcyk | LD | 31 | Pittsburgh Penguins | $3.6M |
| 22 | Max Pacioretty | LW | 36 | Toronto Maple Leafs | $1.1M |
| 23 | Nick Perbix | RD | 26 | Tampa Bay Lightning | $2.6M |
| 24 | Andrew Mangiapane | LW | 28 | Washington Capitals | $2.6M |
| 25 | Evgenii Dadonov | RW | 36 | Dallas Stars | $3.2M |
