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Not only was Canada Day on Monday, but it also marked the start of the 2024 NHL free agency period. It was a historic day around the league, according to CapFriendly, as over 100 players were signed to new deals that combined for $1.12 billion.
Yes; that’s billion with a ‘b,’ making it the largest single-day total in league history.
Much like every initial day of free agency, the 32 NHL teams had differing degrees of success. Some teams made brilliant moves that brought them closer to clinically carrying the Stanley Cup, while others left their supporters feeling let down by signing unfavorable deals or not taking any action at all.
Keeping that in mind, let’s examine three victors (and one defeat) from the first day of NHL free agency.
NHL Free Agency 2024 Day 1 Winner: Nashville Predators
Notable Players Added:
- Brady Skjei, D (7 years, $49 million)
- Steven Stamkos, C (4 years, $32 million)
- Jonathan Marchessault (5 years, $27.5 million)
The Nashville Predators, failing to progress past the first round of the NHL playoff for the past six years, faced a lot of offseason work. Luckily for their fans, the team’s general manager, Barry Trotz, was more than willing to invest in reinforcements.
The Predators landed three of this year’s biggest free agents on Monday forwards Steven Stamkos and Jonathan Marchessault, as well as defenseman Brady Skjei.
At 34, Stamkos is among the NHL’s top goal-scorers of the past twenty years. The double Stanley Cup champion has accumulated over 1,200 points in 1,210 regular season and playoff games. Even though he may be beyond his peak, he managed to net 40 goals and collect 81 points over 79 games with the Tampa Bay Lightning last season.
Marchessault, at the age of 33, is set to bolster the Predators’ scoring options. Despite his age, this veteran forward continues to defy Father Time, reaching a career peak of 42 goals in the 2023-24 season with the Vegas Golden Knights. Not to forget Skjei, 30, who is among the league’s most versatile defensemen. His presence will significantly alleviate some of the pressure currently placed on Roman Josi.
Despite the potential for these long-term contracts to age poorly, it will be inconsequential if the trio aids the Predators in achieving immediate postseason success. Nashville has aced the free agency’s objective of improving current performance with an outstanding performance.
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NHL Free Agency 2024 Day 1 Winner: Washington Capitals
Notable Players Added:
- Matt Roy, D (9 years, $37.7 million)
- Jakob Chychrun, D (via trade)
The 2023-24 NHL season did not unfold as anticipated for the Washington Capitals, a fact that isn’t hidden. Alexander Ovechkin and his team experienced their fifth first-round playoff exit in the past six years, which lowered their postseason record to 7-20 since their 2018 Stanley Cup victory.
As soon as the offseason began, Washington immediately set to work on enhancing their roster. The Capitals were proactive in the initial trade market, securing players such as Pierre-Luc Dubois, Andrew Mangiapane, and Logan Thompson. They managed to do this by only relinquishing a few draft picks and seasoned goalie Darcy Kuemper.
The Capitals then followed up those trades with a strong start to NHL free agency. In an effort to strengthen the backend, they signed defenseman Matt Roy to a nine-year, $37.7 million contract. Roy was one of the better right-handed two-way defensemen on the market and will play a big role on Washington’s blue line for the next near-decade.
Roy was the only significant free-agent signing by the Capitals, but they didn’t stop there. They also traded a third-round pick and right-hand defenseman Nick Jensen to the Ottawa Senators, acquiring veteran defender Jakob Chychrun in return. Despite Chychrun’s less than stellar stint in Ottawa, he remains a skilled defenseman capable of delivering 15 or more goals and over 40 points in any season.
It’s clear that the Capitals are preparing for Ovechkin’s last few years with the team, and only time will reveal if yesterday’s decisions will prove beneficial.
NHL Free Agency 2024 Day 1 Winner: Chicago Blackhawks
Notable Players Added:
- Tyler Bertuzzi, LW (4 years, $22 million)
- Teuvo Teravainen, C (3 years, $16.2 million)
- T.J. Brodie, D (2 years, $7.5 million)
Despite being one of the worst-performing teams in the NHL last season, the Chicago Blackhawks were not concerned. The organization was in a rebuilding phase and the fans were more eager to see Connor Bedard’s achievements as a professional, irrespective of Chicago’s final tally of wins.
Now that the 2023-24 season is wrapped up, fans of the Blackhawks are eager for their team to step up their game. This is why General Manager Kyle Davidson immediately splashed the cash to guarantee his team will no longer be the butt of jokes.
The Blackhawks strengthened their forward core by recruiting veteran players Tyler Bertuzzi and Teuvo Teravainen, who consistently deliver 20 goals and achieve 40 to 60 points each season. Additionally, Craig Smith and Patrick Maroon were also signed to enhance the performance of the bottom two lines.
GM Davidson also addressed the defense core by inking Alec Martinez and T.J. Brodie to a pair of deals. While neither man will win the Norris Trophy, they’ll be relied upon to eat minutes while helping mentor Chicago’s younger blueliners. Additionally, 31-year-old netminder Laurent Brossoit was brought in to serve as Petr Mrazek’s backup next year.
Is it possible for the Blackhawks to reach the 2024-25 playoffs? It’s yet to be seen. However, it’s clear that Chicago’s promising beginning to NHL free agency has notably improved the roster for the coming year.
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NHL Free Agency 2024 Day 1 Loser: Anaheim Ducks
Notable Players Added:
- None
Every NHL team, with the exception of the Anaheim Ducks, made a minor signing to kick off the free agency period on Monday.
Despite their absence from the playoffs since the 2017-18 season, the Ducks did not sign any new free agents at the start of the week. They only re-signed Brett Leason and Urho Vaakanainen. It appears that Anaheim is waiting for the rest of the player market to settle before making any additional moves.
Given that many free agent signings often end up in unsavory situations after a few years, sometimes it can be advantageous for teams to be less active. However, it’s challenging to be optimistic about Anaheim’s next season when it seems the only new additions to the lineup are rookies from the 2024 draft or minor-league promotions.
The Ducks still have ample time to complete their roster, so it remains to be seen what will transpire in the days ahead. However, until they secure more reinforcements, it could be contended that they are among the biggest losers in the free agency period to date.
NHL Stanley Cup 2025 Odds Following Day 1 of Free Agency
All NHL Stanley Cup odds are courtesy of BetOnline as of 2:28 p.m. ET on Tuesday, July 2.
- Florida Panthers (+750)
- Edmonton Oilers (+800)
- New Jersey Devils (+900)
- Dallas Stars (+1000)
- Colorado Avalanche (+1200)
- New York Rangers (+1400)
- Carolina Hurricanes (+1400)
- Toronto Maple Leafs (+1600)
- Nashville Predators (+1600)
- Vegas Golden Knights (+1800)
- Tampa Bay Lightning (+2000)
- Vancouver Canucks (+2200)
- Boston Bruins (+2500)
- Los Angeles Kings (+2500)
- Winnipeg Jets (+2500)
- Detroit Red Wings (+4000)
- Minnesota Wild (+4000)
- Ottawa Senators (+4000)
- New York Islanders (+5000)
- Buffalo Sabres (+5000)
- Pittsburgh Penguins (+5000)
- Philadelphia Flyers (+5500)
- St. Louis Blues (+6000)
- Seattle Kraken (+6000)
- Utah Hockey Club (+6600)
- Calgary Flames (+7500)
- Washington Capitals (+8000)
- Montreal Canadiens (+15000)
- Chicago Blackhawks (+15000)
- Anaheim Ducks (+30000)
- Columbus Blue Jackets (+30000)
- San Jose Sharks (+30000)
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