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2026 NHL Free Agency Opens; Cap Rises to $104 Million

7/1/2026

35 3 Full Breakdown

Summary

Story summary

The 2026 NHL free-agency period opens at 9 a.m. ET on July 1, 2026.
Rasmus Andersson, 29, could earn $10 million AAV after helping Vegas win the Stanley Cup.
Alex Ovechkin may re-sign with Washington for $9.5 million or retire.
The salary cap rises to $104 million for 2026-27, an $8.5 million increase.
Seattle Kraken, with $22,591,371 projected space, can retain players as Jamie Oleksiak and Jaden Schwartz become unrestricted free agents.

History

Historical Context

In September 2004 the NHL owners, led by Commissioner Gary Bettman, locked out the NHLPA, cancelling the 2004-05 season on February 16 2005. The July 2005 agreement introduced a hard salary cap of $39 million per team, linked to league revenue. That framework has been raised each CBA cycle, shaping modern roster moves by clubs such as the Vegas Golden Knights and Washington Capitals in the 2026 season.

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Story summary

The 2026 NHL free-agency period opens at 9 a.m. ET on July 1, 2026.
Rasmus Andersson, 29, could earn $10 million AAV after helping Vegas win the Stanley Cup.
Alex Ovechkin may re-sign with Washington for $9.5 million or retire.
The salary cap rises to $104 million for 2026-27, an $8.5 million increase.
Seattle Kraken, with $22,591,371 projected space, can retain players as Jamie Oleksiak and Jaden Schwartz become unrestricted free agents.

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