The NHL dropped some news yesterday morning that will likely come as music to the ears of Golden Knights fans. The NHL and NHLPA released a forecasted salary cap for the next three seasons, with significant bumps each year.
The salary cap for the current 2024-25 season is $88 million which means an increase of more than $7 million is on the horizon. Initial estimates from earlier this year had next year’s increase at closer to $4 or 5 million, which means the Golden Knights, and everyone else in the league, will have a lot more money to work with this offseason.
Vegas spent the majority of 2024 locking up major pieces for the future. Tomas Hertl, Noah Hanifin, Shea Theodore, Brayden McNabb, Brett Howden, and Keegan Kolesar all found themselves tied to the Golden Knights through at least the end of the 2027-28 season. However, crucial pieces still remain hanging in the balance both this summer as well as the next two.
Now that we have a better idea of where the salary cap is headed, we can look into VGK’s contract situations to show what type of work needs to be done to the roster.
2025-26 Season
Forwards Under Contract: Eichel, Stone, Hertl, Karlsson, Barbashev, Roy, Howden, Dorofeyev, Kolesar
Defensemen Under Contract: Pietrangelo, Hanifin, Theodore, McNabb, Whitecloud, Hutton, Korczak
Goalies Under Contract:
Pending UFAs: Olofsson, Saad, Pearson, Hill, Samsonov
Pending RFAs: Hague, Holtz, Schwindt, Lavoie, Brisson, Denisenko, Rondbjerg
Salary Under Contract: $78,760,000
Available Salary Cap Space: $16,740,000
Despite having a lot of the roster already locked up, the Golden Knights will be in a place to not only retain all of their pending free agents but also add to the roster. The biggest cap hit will come at goaltender, as Adin Hill is likely to command at least $6 million per year with that number potentially skyrocketing with postseason success. Nic Hague will be in for a significant raise as a restricted free agent but with seven defensemen already under contract the Golden Knights hold a lot of leverage in those negotiations. It’s been rare in VGK history, but they could be major players in free agency this summer.
2026-27 Season
Forwards Under Contract: Stone, Hertl, Karlsson, Barbashev, Roy, Howden, Kolesar
Defensemen Under Contract: Pietrangelo, Hanifin, Theodore, McNabb, Whitecloud
Goalies Under Contract:
Pending UFAs: Eichel, Hutton, Laczynski
Pending RFAs: Dorofeyev, Korczak
Salary Under Contract: $65,125,000
Available Salary Cap Space: $38,875,000
There will be no bigger decision in the next three seasons than the contract the Golden Knights offer Jack Eichel. With the cap shooting up, and only expected to continue going higher in the future, Eichel is primed to sign a contract with a larger AAV than any that has been signed to this point in the NHL. Mitch Marner and Mikko Rantanen will likely reset the market this summer and then Kirill Kaprisov, Kyle Connor, and the biggest fish of them all, Connor McDavid, are all set to cash in before 2026-27. It would be stunning if the Golden Knights do not keep Eichel in Las Vegas for the maximum eight years allowed by the CBA. As for the price, it probably starts at $14 million, and could go even higher depending on the rest of the league’s superstars.
2027-28 Season
Forwards Under Contract: Hertl, Barbashev, Howden, Kolesar
Defensemen Under Contract: Hanifin, Theodore, McNabb, Whitecloud
Goalies Under Contract:
Pending UFAs: Stone, Pietrangelo, Karlsson, Roy
Pending RFAs:
Salary Under Contract: $37,925,000
Available Salary Cap Space: $75,575,000
If you thought the summer of 2024 was difficult, July 2027 has a chance to give it a run for its money. Stone, Karlsson, and Pietrangelo are all in need of new contracts following the 2026-27 season and each of them will be at least 35 years old at the time of asking. The Golden Knights should still have plenty of money to operate with by that time but they’ve relied upon “data” in the past that has shown an unwillingness to sign players at these advanced ages. It’s a long way away and there’s so much likely to happen between now and then, but three years from now it’s highly probable the team looks nothing like it does today.
