2026 NHL offseason trends: Trades, RFA market, contracts and cap implications

The 2026 NHL offseason has seen significant shifts in team-building strategy driven by a booming salary cap and increased player empowerment. A key moment was the five-year, $90 million offer sheet submitted by the Philadelphia Flyers for restricted free agent Leo Carlsson, which the Anaheim Ducks ultimately matched, setting a precedent for the RFA market. The weak unrestricted free-agency class also fueled an unusually active trade market, with RFAs like Pavel Dorofeyev and Leo Carlsson securing major contracts this summer.