2026 NHL Offseason Winners & Losers: Biggest Moves, Shocks, and Surprises! (2026)

The 2026 NHL offseason has been a whirlwind of activity, with teams making bold moves and others facing the consequences of their decisions. Here's a breakdown of the winners and losers so far, with a heavy dose of personal commentary and analysis.

Winners

Leo Carlsson

Leo Carlsson is the clear winner of this offseason. The Ducks' decision to match the Flyers' record-breaking offer sheet for the 21-year-old center is a bold move that cements his status as a rising star in the league. At $90 million over five years, Carlsson becomes the NHL's highest-paid player, a testament to his talent and potential. This contract also puts pressure on Carlsson to perform, but that's not always a bad thing. It's a sweet deal with a substantial signing bonus, and the Ducks are banking on his ability to live up to the hype. Carlsson's negotiation skills and the Ducks' commitment to him are impressive, and this contract will only serve to elevate his status in the league.

The Capitals

The Capitals have made some strategic moves that hint at a return to playoff contention. Acquiring Jordan Kyrou and Alex Tuch, two of the NHL's best forwards, is a clear indication that they're aiming to win now. The addition of Boone Jenner and Vincent Desharnais further emphasizes their focus on short-term success. With Alex Ovechkin re-signing for another year, the Capitals are building a strong foundation for the future. The team's ability to anticipate Ovechkin's return and make moves that complement his skills is a testament to their front office's acumen. The Capitals are a team to watch, especially with a healthy Logan Thompson in net.

The Edmonton Oilers

The Oilers' offseason has been a mix of bold moves and strategic decisions. They've shed the burden of Darnell Nurse's contract, opening up salary cap space, and addressed their goaltending situation by signing Freddie Andersen and acquiring Devon Levi. These moves, coupled with the hiring of Mike Babcock as head coach, signal a renewed sense of urgency and a clearer understanding of their priorities. With Connor McDavid's bridge deal coming to an end, the Oilers are positioning themselves for a potential return to contention. This offseason has been a refreshing change of pace for a team that has struggled in recent years.

Losers

The Red Wings

The Red Wings are in a state of flux, and the firing of Steve Yzerman as GM is a stark reminder of their struggles. The team's inability to make timely moves and their ongoing saga with Dylan Larkin, who wants out, has left them in a difficult position. The Red Wings' quiet offseason beyond the signing of Viktor Arvidsson is a result of their current situation. They can't do much until Larkin's future is resolved, and that has prevented them from making the necessary moves to build a competitive team. The Red Wings' fans are left with a sense of uncertainty and disappointment, and the team's future remains uncertain.

The Seattle Kraken

The Kraken's attempt to acquire Jason Robertson, a 40-goal scorer, ended in disappointment. Robertson's decision to decline the Kraken's offer and stay with a contender is a blow to the team's plans. The Kraken's front office has made some good moves, but they're still searching for that signature piece to bring it all together. Their conservative approach has led to missed opportunities, and the team's stagnation is a concern. The Kraken need to take another swing at it this offseason and not just admit defeat, as they've shown promise in recent years.

Zach Werenski and the Columbus Blue Jackets

The Blue Jackets and Zach Werenski are in a player-vs.-team dispute that has left both sides in a difficult position. Werenski's decision to veto a trade and stay with the team for now has created a sense of uncertainty. The Blue Jackets' front office's initial excitement turned to disappointment as they realized Werenski's value is at its peak. The team's top scorer, Kirill Marchenko, also informed them of his intention to leave, further exacerbating the situation. The Blue Jackets need to find a way to turn this situation into a positive, but it won't be easy.

Tom Dundon's Family

Tom Dundon's family has become the unexpected winner of this offseason's absurdity. The revelation that each of their names was etched onto the Stanley Cup sparked debate and memes, but it also highlights the power dynamics within professional sports. While it's not the first time ownership families have been included on the Cup, it's a controversial move that raises questions about tradition and inclusivity. The Dundon family's inclusion is a reminder that the NHL, like other sports leagues, is constantly evolving, and sometimes, it's the little details that make the biggest impact.

2026 NHL Offseason Winners & Losers: Biggest Moves, Shocks, and Surprises! (2026)
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