NHL Free Agent Frenzy; how it all went down on Canada Day 2024

As the clock hits 6:30 Eastern time, I rush from my television to the computer. It’s been a long exciting Canada Day watching the NHL free agent frenzy. Let’s take a look at the major moves across the NHL and in Leaf land!

The Free Agent Frenzy?

What is the free agent frenzy, you ask? Every July 1, NHL players with expiring contracts become free to sign with new teams. Some of the league’s 32 teams have the budgets to make big splashes, while others barely get wet. Here’s a look at some of the major moves teams made today and what happened in Leaf land.

Leafs make a splash on D

Leafs Sign Oliver Ekman-Larsson

The Toronto Maple Leafs have made a significant splash in free agency by acquiring the defenseman they’ve been coveting—Oliver Ekman-Larsson. He signed a four-year deal with the Leafs, carrying an AAV of $3.5 million per year and including a 16-team no-trade clause.

Ekman-Larsson, 32, recorded nine goals and 32 points in 80 games with the Florida Panthers last season. He added two goals and six points in 24 playoff games as the Panthers clinched their first Stanley Cup in franchise history. In 982 career NHL regular season games split between Arizona, Vancouver, and Florida, the Karlskrona, Sweden native has recorded 471 points (144 goals, 327 assists).

The 6-foot-2 left-shot defenseman is coming off a one-year, $2.35 million deal he signed with the Panthers in July 2023. Drafted sixth overall by the Arizona Coyotes in 2009, Ekman-Larsson has amassed 144 goals and 471 points in 982 career games, split between the Coyotes, Vancouver Canucks, and Panthers.

Leafs sign Chris Tanev

The Toronto Maple Leafs also announced today that the hockey club has signed defenceman Chris Tanev to a six-year contract. The average annual value of the contract is $4.5 million.

Tanev, 34, skated in 56 games for the Calgary Flames before being acquired by the Dallas Stars last season. With the Stars, Tanev recorded five points (1 goal, 4 assists) in 19 games and added two assists in 19 playoff games. In 792 career NHL regular games, the Toronto, ON native has registered 190 points (33 goals, 157 assists) and 194 penalty minutes split between Vancouver, Calgary, and Dallas. The 6’2, 193 pound defenceman has posted 13 points (one goal, 12 assists) in 60 playoff games.

Tanev was undrafted and joined the Vancouver Canucks as a free agent on May 31, 2010.

More about the rest of the Leafs signings, a bit later. Here’s where some of the major free agents landed and the details of their deals, marking just the beginning of the frenzy as players like Leon Draisaitl in Edmonton (with one year left in his contract) weigh their options.

Jake Guentzel, W, Tampa Bay Lightning

Carolina traded Guentzel’s rights to Tampa Bay, where he signed a seven-year contract worth $9 million annually. Despite his regular-season performance peaking at 40 goals twice, Guentzel has proven clutch in the playoffs with 38 goals in 69 postseason games.

Sam Reinhart, RW, Florida Panthers

After a career-best 57 goals, Reinhart re-signed with the Panthers for the maximum eight years at an AAV of $8.625 million, a win for the Stanley Cup champions.

Steven Stamkos, C, Nashville Predators

A cornerstone of the Lightning, Stamkos moves to Nashville on a four-year deal with an AAV of $8 million, showing no signs of slowing down at age 34 with consistent scoring prowess.

Brandon Montour, D, Seattle Kraken

Montour joins Seattle on a seven-year contract worth $7.14 million AAV, bringing his playoff experience and defensive strength to the Kraken’s blue line.

Tyler Bertuzzi, LW, Chicago Blackhawks

Bertuzzi heads to Chicago with a four-year deal worth $5.5 million AAV after negotiations with Toronto fell short, citing performance discrepancies in his lone season with the Leafs. (Some say he decided to leave after the famous bench argument between Marner, Matthews and Nylander during the Bruins series.)

Elias Lindholm, C, Boston Bruins

Despite a quieter season, Lindholm signed a seven-year, $7.75 million AAV contract with the Bruins, bolstering their center position after a strong playoff showing with Vancouver.

Brady Skjei, D, Nashville Predators

Skjei’s offensive output earned him a seven-year deal at $7 million AAV with Nashville, recognizing his dual threat on defense and offense from his time with Carolina.

Jake DeBrusk, W, Vancouver Canucks

DeBrusk  landed in Vancouver on a seven-year contract with a $5.5 million AAV, hoping to regain his scoring touch after a productive postseason with the Bruins.

Brett Pesce, D, New Jersey Devils

Known for shutdown defense, Pesce moves to the Devils on a six-year, $5.5 million AAV deal, expected to play a crucial role under new coach Sheldon Keefe.

Chandler Stephenson, C, Seattle Kraken

Stephenson brings veteran leadership to Seattle with a seven-year contract at $6.25 million AAV, aiming to replicate his successful seasons, including a Stanley Cup win in 2022.

Nikita Zadorov, D, Boston Bruins

Zadorov another defenseman Treliving was pursuing, was scooped up by Boston signing a six-year deal at $5 million AAV, adding physicality and depth to their defensive lineup.

Matt Roy, D, Washington Capitals

Roy signs a seven-year, $5.5 million AAV contract with Washington, solidifying their defense with his experience from the Kings.

Tyler Toffoli, W, San Jose Sharks

Toffoli secures a four-year deal worth $6 million AAV with the Sharks, contributing scoring prowess to their lineup.

Anthony Mantha, LW, Calgary Flames

Calgary adds Mantha to their group on a one-year contract with a $3.5 million AAV. He aims to regain his scoring touch after a quiet season split between Washington and Vegas.

Sean Monahan, C, Columbus Blue Jackets

Monahan signs a five-year, $5.5 million AAV deal with Columbus after a strong season split between Montreal and Winnipeg, expected to boost the team’s offensive depth.

Anthony Duclair, LW, New York Islanders

Duclair adds scoring depth to the Islanders on a four-year contract with a $3.5 million AAV, aiming to enhance their offensive capabilities.

Back To Leaf Land

Hakanpaa Signs With Leafs

In addition to landing Ekman-Larsson, the Leafs signed another free agent defenseman from Dallas, Jani Hakanpaa, to a two-year contract.

Hakanpaa, 32, appeared in 64 games with the Dallas Stars during the 2023-24 regular season, recording two goals and 12 points while averaging 18:38 of ice time per game. He did not play in the 2024 Stanley Cup Playoffs due to a lower-body injury.

His new contract with the Maple Leafs carries a $1.5 million cap hit for the next two seasons. The St. Louis Blues originally selected Hakanpaa in the fourth round (No. 104 overall) of the 2010 NHL Draft. The Kirkkonummi, Finland native spent three seasons in the Blues’ minor-league system before returning to the Finnish Liiga.

The Anaheim Ducks signed Hakanpaa as a free agent from Liiga club Karpat in 2019. He played 49 NHL games over parts of two seasons with the Ducks in 2019-20 and 2020-21 before being traded to the Carolina Hurricanes at the 2021 deadline.

Hakanpaa subsequently signed a three-year contract with the Stars as an unrestricted free agent in the 2021 offseason. He established himself as a regular NHL defenseman over three full seasons in Dallas, playing at least 80 games in two of them.

In 288 career games over parts of five NHL seasons with the Ducks, Hurricanes, and Stars, Hakanpaa has recorded 15 goals and 45 points. He added one goal and four points in 33 career playoff contests.

Leafs Find Their Goalies

The Toronto Maple Leafs have secured their goaltending for the upcoming seasons by agreeing to a two-year, $5 million deal with goaltender Anthony Stolarz.

The 30-year-old Stolarz posted a 16-7-2 record with a 2.03 goals-against average, a .925 save percentage, and two shutouts over 27 games with the Florida Panthers. In 108 career NHL games with the Panthers, Anaheim Ducks, Edmonton Oilers, and Philadelphia Flyers, Stolarz has a 43-31-9 record with a 2.69 goals-against average and a .915 save percentage.

Additionally, Toronto locked down Joseph Woll with a three-year, $10.98 million contract extension on Monday and re-signed veteran Matt Murray, who sat out all last season with an injury.

Leafs Re-Sign Domi & Liljegren

The Toronto Maple Leafs have re-signed forward Max Domi to a four-year contract with an average annual value of $3.75 million.

Domi, 29, notched 47 points (nine goals, 38 assists) in 80 regular-season games for the Leafs during the 2023-24 season. He added four points (one goal, three assists) in seven playoff games. Throughout his nine-year NHL career, Domi has accumulated 417 points (130 goals, 287 assists) in 661 regular-season games with Arizona, Montreal, Columbus, Carolina, Chicago, Dallas, and Toronto. He also has seven goals and 19 assists in 50 career playoff games.

The Leafs also secured defenseman Timothy Liljegren with a two-year contract, carrying an average annual value of $3 million.

Liljegren, 25, recorded 23 points (three goals, 20 assists) in 55 regular-season games for the Leafs in 2023-24 and added one assist in six playoff games. He was selected by Toronto in the first round (17th overall) of the 2017 NHL Draft.

Final Thoughts

As the NHL free agent frenzy winds down, teams have aggressively bolstered their rosters for the upcoming season. Tampa swiftly filled Stamkos’s spot with Guentzel, while the Leafs fortified their defensive lineup with added size and strength. Vancouver’s acquisition of DeBrusk could provide valuable grit, though it remains uncertain if he alone can propel them to championship contention. Meanwhile, Edmonton anxiously awaits Draisaitl’s decision, which will heavily influence their future.

by Myles Shane

images by Toronto Maple Leafs