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The NHL free agent signing period begins Monday at noon ET, and general managers around the league have already begun the process of reshaping their rosters for 2024-25.

That included the trades in the past week, with Jacob Markstrom headed to the New Jersey Devils and the Los Angeles Kings and Washington Capitals swapping Pierre-Luc Dubois for Darcy Kuemper, followed by Linus Ullmark being traded to the Ottawa Senators.

Every front office is trying to maximize its chances at reaching the Stanley Cup playoffs and lifting the most famous trophy in sports next spring. Here's how each of them can nail this offseason and the cap space that each team has, as well as a look at key players hitting restricted and unrestricted free agency.

Note: Profiles for the Atlantic and Metro teams were written by Kristen Shilton, while Ryan S. Clark analyzed the Central and Pacific teams. Stats are collected from Natural Stat Trick, Hockey Reference and Evolving Hockey. Projected cap space as of June 26, per Cap Friendly.

Jump to a team: ANA | BOS | BUF | CGY CAR | CHI | COL | CBJ DAL | DET | EDM | FLA LA | MIN | MTL | NSH NJ | NYI | NYR | OTT PHI | PIT | SJ | SEA STL | TB | TOR | UTA VAN | VGK | WSH | WPG

2023-24 result: Lost in the second round Key players hitting UFA: F Jake DeBrusk, F Danton Heinen, D Derek Forbort, D Matt Grzelcyk Key players hitting RFA: F Jesper Boqvist, G Jeremy Swayman Cap space: $21,599,166

What they should do: The Bruins' first priority is signing Jeremy Swayman to a long-term deal and solidifying his position as their No. 1 goaltender. Getting that done required trading Linus Ullmark first, though. Boston took care of that by swapping Ullmark to Ottawa this week for a package including goaltender Joonas Korpisalo. Removing Ullmark's $5 million cap hit for next season -- and replacing it with just 75% of Korpisalo's $4 million salary -- provides GM Don Sweeney space to give Swayman the raise he deserves. And Boston should benefit from Korpisalo in a backup spot, where he has been more comfortable in his career than as a starter.

Now, the Bruins can focus on boosting their forward depth, particularly at center. Steven Stamkos, Elias Lindholm or Alex Wennberg are all potential targets who could fill that role well in Boston. Re-signing DeBrusk is a great in-house option for Sweeney to get over the line quickly, and then Boston can fill in around the edges with veteran skaters such as Tyler Toffoli or Viktor Arvidsson. If there's cash left on the books, expect Sweeney to spy some blue-line help from third-pairing possibilities such as Shayne Gostisbehere or Brenden Dillon.

2023-24 result: Missed the playoffs Key players hitting UFA: F Zemgus Girgensons, F Victor Olofsson, G Eric Comrie Key players hitting RFA: F Peyton Krebs, D Jacob Bryson, G Ukko-Pekka Luukkonen Cap space: $23,518,930

What they should do: Buffalo has a new (old?) coach in Lindy Ruff, and he'll be working closely with GM Kevyn Adams to figure out how the Sabres can finally return to the playoffs in 2024-25. An easy win would be re-signing Luukkonen to establish him as Buffalo's starter; when Devon Levi faltered last season, Luukkonen took his opportunity to shine, and he deserves to be rewarded with a solid raise. Levi could still be a viable backup option for Buffalo, which would close the door on a return for Comrie.

The Sabres could use depth on the wing as well, especially if Olofsson and/or Girgensons are out the door in free agency. Adams should be looking to replace not just the on-ice skills, but also some of the leadership the Sabres lost when Kyle Okposo was traded in March. Jonathan Marchessault, Arvidsson and Tanner Pearson can fill spots in the lineup and provide a strong veteran presence in Buffalo's room. Plus, there's playoff (and championship) pedigree there to inspire the Sabres. One center option for Buffalo to target might be Wennberg; he was excellent in a third-line role for the New York Rangers this season and could provide for Buffalo in similar fashion.

2023-24 result: Missed the playoffs Key players hitting UFA: F Christian Fischer, F Patrick Kane, F David Perron, F Daniel Sprong, D Shayne Gostisbehere, G James Reimer Key players hitting RFA: F Lucas Raymond, F Joe Veleno, D Moritz Seider Cap space: $32,767,360

What they should do: Detroit won't truly be able to assess its free agent/trade options until Raymond and Seider are locked into new contracts. They are cornerstone players for the Red Wings, and coming to terms with both burgeoning stars will eat into Detroit's available cap space.

Once Raymond and Seider are done, the Red Wings will want to round out their top-six forward depth by either re-signing Kane and/or Perron or focusing on the free agent market, where Jonathan Marchessault would be an ideal replacement. Detroit might also be aggressively chasing a trade for Martin Necas' rights or the recently extended Kaapo Kakko.

The Red Wings' overall defensive efforts have been a problem in recent years, so adding some punch there is another priority. Depending on how GM Steve Yzerman wants to invest, the Red Wings could go more low-key (and potentially more physical) with a player such as Joel Edmundson or Matt Dumba. Detroit would be swinging for the fences though going after Brett Pesce or even Chris Tanev.

If Yzerman believes his group is only one or two players away from being a contender, then pursuing those latter options makes sense. The Red Wings are fortunate to have decent draft capital, and those assets come in handy when Yzerman starts really working the phones.

2023-24 result: Won the Stanley Cup Key players hitting UFA: F Nick Cousins, F Sam Reinhart, F Vladimir Tarasenko, D Oliver Ekman-Larsson, D Brandon Montour Key players hitting RFA: F Anton Lundell Cap space: $19,516,666

What they should do: Florida's core is basically intact save for two important players: Reinhart and Montour. Both are pending UFAs and will be looking for paydays reflective of their being part of back-to-back Stanley Cup Final runs. Can GM Bill Zito find a way to make that work on the Panthers' books while knowing Lundell needs a new deal? It'll be tough. Expect Zito to make a hard decision there and prioritize Reinhart over Montour. Florida could target other (potentially cheaper) free agent blueliners such as Nikita Zadorov, Tyson Barrie or Derek Forbort.

The Panthers' success will make them a desirable landing spot for most free agents, and that's an asset for Zito to wield in negotiations. If Reinhart remains, Florida will have retained the majority of its top-tier scoring, leaving room for depth additions such as Patrick Kane, Matt Duchene or Chandler Stephenson. The key, though, is whether Reinhart is sticking around, and at what number. It's not likely Florida would find a more valuable top-six forward via trade anyway, so working with Reinhart ASAP on an extension is in the Panthers' best interest.

2023-24 result: Missed the playoffs Key players hitting UFA: F Tanner Pearson Key players hitting RFA: D Arber Xhekaj Cap space: $9,413,750

What they should do: Montreal has stayed committed to a slow and steady rebuilding process centered on players within the system, and that doesn't project to be changing anytime soon. Therefore, getting Xhekaj signed to a new deal is atop GM Kent Hughes' offseason itinerary. The Canadiens have two other RFAs -- Jesse Ylonen and Justin Barron -- who will require consideration, but neither has mirrored Xhekaj in showing they're ready to be full-time NHLers.

Montreal will also be adding defenseman Lane Hutson into their lineup this season after Hughes signed the Boston University product to an entry-level contract in April. The Canadiens are deep with left-shot blueliners, so Hughes would be wise to target some right-side help in free agency. Alexandre Carrier and Henri Jokiharju are mid-20s skaters who could be relatively inexpensive additions.

Again, it hasn't been Hughes' MO to go wild making big trades or supplementing the Canadiens' strong young core with flashy signings. Montreal's build will continue to be gradual.

2023-24 result: Missed the playoffs Key players hitting UFA: F Dominik Kubalik Key players hitting RFA: F Boris Katchouk, F Shane Pinto, D Erik Brannstrom Cap space: $11,300,953

What they should do: Ottawa's captain Brady Tkachuk said it best in April when he lamented how the Senators "[hadn't] done a thing" in the six years he has been with the team. That has to change -- immediately. Ottawa has done the steady rebuild thing. It didn't pan out. There's a new coach and front office in place to get the needle moving this season, so credit to Ottawa for not wasting time.

The Senators' goaltending had been in flux until Ottawa shipped underperforming Joonas Korpisalo to Boston for bona fide No. 1 Linus Ullmark. That's a significant boost for the Senators' crease and should help them in another key area, too -- their defensive play.

Ottawa must upgrade its blue line, and the Senators were reportedly interested in doing that before the last deadline with Chris Tanev. Ottawa cannot expect Thomas Chabot and Jakob Chychrun to be vastly improved (and the Senators are open to offers on either player too). Regardless of how, the Senators' back end needs outside help. Beyond that, Ottawa will undoubtedly re-sign Shane Pinto and could look at free agents like Warren Foegele or Daniel Sprong to fill in some gaps.

2023-24 result: Lost in the first round Key players hitting UFA: F Anthony Duclair, F Tyler Motte, F Steven Stamkos, D Haydn Fleury Key players hitting RFA: F Logan Brown Cap space: $5,335,000

What they should do: Does Tampa Bay bring back Stamkos? That's the starting point here. Stamkos is the Lightning's captain and a top-line skater; he will leave a void in both the lineup and the leadership realm if he departs as a free agent.

GM Julien BriseBois might have no choice but to let it happen given limited cap resources. BriseBois could try making room by trading Conor Sheary (and his $2 million cap hit) after an unproductive season, but even that might not be enough to keep Stamkos and make the other upgrades needed to be competitive.

The Lightning would benefit from an upgrade at backup goaltender so the load doesn't fall so heavily on Andrei Vasilevskiy. Anthony Stolarz excelled in that role for Florida this past season, and he could be a cheap option for Tampa Bay in free agency. The Lightning would also ideally want to keep Duclair and have some cash to add a depth defenseman (such as TJ Brodie or Nikita Zaitsev). The Lightning's future hinges greatly on whether they can free up some space by trading current players (but what else is new?) Expect BriseBois to use every tool available to keep Tampa Bay in position to contend.

2023-24 result: Lost in the first round Key players hitting UFA: F Tyler Bertuzzi, F Max Domi, D TJ Brodie, D Joel Edmundson, D John Klingberg, D Ilya Lyubushkin, G Ilya Samsonov Key players hitting RFA: F Noah Gregor, F Nicholas Robertson, D Timothy Liljegren Cap space: $18,830,333

What they should do: Toronto needs a No. 1 goaltender. Is that Joseph Woll? Given Woll's relative inexperience and disappointing injury history -- coupled with the Leafs being in win-now mode -- he's likely not Toronto's best option. Neither is Samsonov, so don't expect a return.

The goalie free agent class is sparse -- there's Laurent Brossoit or maybe Cam Talbot for the Leafs to potentially pursue. GM Brad Treliving would have more options on the trade front, though. Linus Ullmark feels like an obvious option to pursue, Juuse Saros could be ideal if Nashville doesn't extend him post-July 1, and perhaps Filip Gustavsson could benefit from a fresh start.

Beyond goaltending, the Leafs will be in on the likes of Chris Tanev and Brett Pesce to aid a blue line that failed Toronto in its biggest moments last season. Liljegren is another factor on the back end; he has had an inconsistent career with the Leafs, and Treliving might decide it's time to move on and make way for other skaters to take on bigger roles.

Re-signing Bertuzzi and Domi should be among the easiest decisions for Treliving. They both want to return and project to fit in seamlessly with new coach Craig Berube's style of play. Oh, and don't anticipate fireworks in the Mitch Marner situation -- Treliving would rather keep Marner than trade him, and there's another year left for the two sides to figure something out.

2023-24 result: Lost in the second round Key players hitting UFA: F Jake Guentzel, F Jordan Martinook, F Teuvo Teravainen, D Brett Pesce, D Brady Skjei Key players hitting RFA: F Jack Drury, F Seth Jarvis, F Martin Necas, D Dylan Coghlan Cap space: $23,874,167

What they should do: Carolina's offseason program hinges on one contract getting done, and it's for Jarvis. The pending RFA has vastly outperformed his expiring entry-level deal and will be in line for a well-deserved pay raise. New GM Eric Tulsky should be zeroed in on how to keep Jarvis happy with the Hurricanes for years to come. Until Tulsky knows what Jarvis' number is, it'll be difficult for Carolina to tap into the free agent market.

One move Tulsky can make sooner than later is moving Martin Necas (either with a sign-and-trade or simply swapping his rights). Necas had a down season and is arbitration-eligible, but that wouldn't totally limit the Hurricanes' possibilities in orchestrating something for the versatile forward. Tulsky has to be cognizant of hoarding cap space for the current extensions, particularly Martinook's or Teravainen's, as well as future ones, because Carolina's blue line and goaltending is aging and will need reinforcements.

Expect Tulsky to spy some inexpensive depth on the wing, perhaps in a Jack Roslovic or Luke Kunin.

2023-24 result: Missed the playoffs Key players hitting UFA: None Key players hitting RFA: F Yegor Chinakhov, F Kirill Marchenko, F Cole Sillinger, F Alexandre Texier, D Jack Bean Cap space: $21,675,000

What they should do: Columbus has already undergone seismic change in the past month with the insertion of new GM Don Waddell and the firing of head coach Pascal Vincent (with no successor yet named). It wouldn't make sense for Waddell to start tinkering too much with the Blue Jackets' roster until a bench boss is in place to be part of the process. However, there are decisions those parties will eventually have to make.

First is what to do with Elvis Merzlikins. He and Daniil Tarasov limped through last season, and Merzlikins could absolutely benefit from a fresh start elsewhere. Columbus might look for a veteran netminder such as Cam Talbot to come in and give them a good season or two while they figure out the future. But something must be done to upgrade Columbus' battery in the crease.

The Blue Jackets will then parse through a landslide of pending RFAs to figure out what help they might require from the outside. Marchenko and Sillinger in particular are key members of Columbus' future, and locking them in would be a good start for Waddell. Bean is another burgeoning young talent whom the Blue Jackets can build around.

Columbus can then explore some defensive changes, perhaps through trading Adam Boqvist and targeting a free agent with more experience (Matt Roy or Tyson Barrie could add leadership and contribute in third-pairing slots). And what of a Patrik Laine trade? That's on the radar as well. It could be difficult to execute given Laine's inconsistent performances the past few seasons, but Waddell will try to find him a fresh start.

2023-24 result: Missed the playoffs Key players hitting UFA: F Tomas Nosek, G Kaapo Kahkonen Key players hitting RFA: F Dawson Mercer Cap space: $15,273,603

What they should do: New Jersey settled its first offseason task in naming Sheldon Keefe as the team's new head coach. Now, what will the Devils look like under Keefe's reign?

New Jersey absolutely had to solidify its goaltending and did so by acquiring Jacob Markstrom from Calgary last week. That's a significant upgrade for the Devils over Jake Allen -- who was serviceable last season taking over from Vitek Vanecek -- and he'll be a fine backup now for Markstrom. New Jersey's goalie woes have been a serious issue over the past two seasons, and having a bona fide, experienced No. 1 in Markstrom should put the Devils in good position to get back into the playoff picture.

However, there is more work to do. GM Tom Fitzgerald has said being "tougher to play against" is a priority for New Jersey, and that should play into his personnel decisions. The Devils are reportedly working hard to reel in Brett Pesce, and Brendan Dillon would fit that bill on the back end too. Middle-six skaters such as William Carrier or Jordan Martinook are winners with some edge who can elevate the Devils' attack by supplementing their excellent young core.

Speaking of which, Fitzgerald will also be grappling with a possible extension for Mercer. The 22-year-old has produced consecutive 20-plus-goal seasons and should at least be in the mix for a bridge deal. New Jersey doesn't need a major overhaul (other than the one they already made in net). Fitzgerald can be scrupulous in how he improves the Devils' depth.

2023-24 result: Lost in the first round Key players hitting UFA: F Cal Clutterbuck, D Sebastian Aho, D Mike Reilly Key players hitting RFA: F Oliver Wahlstrom Cap space: $5,812,500

What they should do: New York has two key players on its wish list: a top-six forward, and a top-four defenseman. What the Islanders don't have is much cap space to acquire either. That puts New York firmly on the trade path. If it could leverage Jean-Gabriel Pageau (along with his $5 million cap hit), it would allow the team to free up some space to sign Anthony Duclair (who has a history with head coach Patrick Roy) or even Jake DeBrusk. Identifying targets for the Islanders does hinge on whether they can clear space; GM Lou Lamoriello will need to be active.

The Isles also need to better the blue-line group. Brady Skjei or Nikita Zadorov would be ideal additions to the back end (although they're potentially pricey options). Would Lamoriello reunite with Nikita Zaitsev (a steady stay-at-home defender when on his game) or go for a low-key veteran like Matt Dumba? Again, the dollars and cents will play a significant role. Lamoriello will also be looking at the Islanders' own. Wahlstrom has struggled in recent seasons and could be shopped, while Aho might be a cheap(er) choice to keep for blue-line depth.

2023-24 result: Lost in the conference finals Key players hitting UFA: F Jack Roslovic, F Alex Wennberg Key players hitting RFA: D Ryan Lindgren, D Braden Schneider Cap space: $12,848,476

What they should do: New York's short-term decision-making is tied to a long-term extension for goaltender Igor Shesterkin. The Rangers' starter has one year left on his deal, but knowing Shesterkin will take up a significant chunk of cap space will influence how GM Chris Drury moves through the offseason. Drury already got to work last week placing forward Barclay Goodrow on waivers, a sign Drury won't be standing pat when it comes to restructuring the Rangers for this coming year. Drury also inked Kaapo Kakko to a one-year extension and could use him as a trade chip.

What New York really needs is the top-flight winger it was lacking down the stretch. Head coach Peter Laviolette tried a number of right-wing options with Mika Zibanejad and Chris Kreider that didn't pan out. Depending on how Drury views the Rangers' own impending free agents -- specifically Wennberg, a key third-line center -- would New York go big trying to land Sam Reinhart or Jake Guentzel? Jake DeBrusk could be a match, too, and the Rangers are interested in signing Patrick Kane.

If New York believes its window is wide open, every possibility should be on the table. Drury has time to clear cap space as required and prioritize adding (or re-signing) players who can get New York to the Stanley Cup Final.

2023-24 result: Missed the playoffs Key players hitting UFA: F Denis Gurianov Key players hitting RFA: D Egor Zamula Cap space: $803,572

What they should do: Philadelphia knows there's a looming contract negotiation with Travis Konecny before his current deal expires next season. If the Flyers want to get Konecny locked in soon, it will dictate how much they do in the coming weeks. Philadelphia's defensive depth is weak -- especially with veterans Marc Staal and Erik Johnson hitting the open market -- so GM Danny Briere will be spying for replacements. Ilya Lyubushkin, Tyson Barrie or Calvin de Haan would suffice as second- or third-pairing choices with some special teams potential.

There's been buzz around the Flyers possibly trading one of Morgan Frost, Scott Laughton or Rasmus Ristolainen. Philadelphia would in that case target reinforcements (depending on what they receive back in various deals). Bottom-six skaters such as Sean Monahan or Daniel Sprong could slide in nicely to a lineup spot. Philadelphia also has its own wild card in the mix now that Matvei Michkov -- whom the Flyers selected seventh overall in the 2023 draft -- has officially left the KHL and is heading to North America. How will he transition into the NHL game and a potential top-six role for the Flyers? We'll be watching to find out.

2023-24 result: Missed the playoffs Key players hitting UFA: None Key players hitting RFA: F Emil Bemstrom, D Pierre-Olivier Joseph Cap space: $10,745,658

What they should do: Pittsburgh was too top-heavy, too slow and too old when it bowed out of postseason contention for the second straight year. Now is the time to pivot. The Penguins have to get younger, especially with their scoring depth (which is lacking, to put it mildly). Jake DeBrusk, Anthony Duclair or Jack Roslovic could help there and wouldn't break the bank. Chandler Stephenson is a veteran option down the middle with a winning pedigree.

The Penguins' goaltending is (still) in a precarious position. Tristan Jarry is the clear No. 1 given his contract status and Pittsburgh re-upped Alex Nedeljkovic on a two-year deal to keep him from hitting free agency. That tandem wasn't the Penguins' answer in 2023-24, though. Will upstart Joel Blomqvist get in some reps? Will GM Kyle Dubas make other goaltending-related moves?

Pittsburgh might want to allocate resources to its blue line, too. And open extension talks with Sidney Crosby, or even Marcus Pettersson. One way or another, there will be a busy summer ahead.

2023-24 result: Lost in the first round Key players hitting UFA: F Max Pacioretty Key players hitting RFA: F Connor McMichael Cap space: $3,735,000

What they should do: Washington wanted to become more dynamic, particularly up front. And the Capitals had cap space to make it happen. Even so, Washington sent jaws dropping when it traded for Pierre-Luc Dubois last week, adding the big forward from L.A. with seven years remaining (at $8.5 million per season) on an eight-year pact he inked last summer. The move made sense for Washington on several levels -- the Capitals got younger overall, and it provided needed center depth (Nicklas Backstrom's future is still in flux after all). The trade also allowed Washington to dump underperforming goaltender Darcy Kuemper (and his $5.25 million cap hit) on the Kings. Onward to other business.

It's likely Washington will work to re-sign McMichael after he approached the 20-goal mark a season ago. Then the Capitals should consider some other forwards for their top-nine mix, including Anthony Duclair (who might be a nice fit after his solid season in Tampa Bay).

Head coach Spencer Carbery also spoke at season's end about adding size and speed to the Capitals' blue line. Brady Skjei, Brandon Montour and Alexander Carrier could all fill the void in Washington. The Capitals have prioritized staying competitive even while rebuilding, and they were rewarded with a playoff berth last season. It was a swift first-round exit, but it provided invaluable experience for the younger group of Capitals. Now they have have to factor in elevated scoring punch -- especially if T.J. Oshie can't return immediately because of his ongoing back issues -- to start making some progress.

2023-24 result: Missed the playoffs Key players hitting UFA: F Colin Blackwell, F Tyler Johnson, D Jaycob Megna, D Jarred Tinordi, D Nikita Zaitsev Key players hitting RFA: F Joey Anderson, F MacKenzie Entwistle, F Taylor Raddysh Cap space: $32,940,000

What they should do: Continue concentrating on the future. Finishing with the second-fewest points in the NHL while being 46 points away from the final Western Conference wild-card spot are examples of how the Blackhawks are in a rebuild. At some point, they'll make the transition from a lottery team to one that could challenge for a playoff spot. For now, it appears they could use this offseason to strengthen their roster.

It's what Blackhawks GM Kyle Davidson did last offseason. He went out and acquired veterans such as Nick Foligno and Taylor Hall to help insulate the franchise's young core led by Connor Bedard and Kevin Korchinski. They could opt to use that strategy again, with the premise that whomever they sign could be potentially moved ahead of the NHL trade deadline which would allow the Blackhawks to obtain even more draft capital.

2023-24 result: Lost in the second round Key players hitting UFA: F Jonathan Drouin, F Brandon Duhaime, D Jack Johnson, D Sean Walker Key players hitting RFA: None Cap space: $10,466,250

What they should do: Whatever it takes to win another Stanley Cup. The offseason gives the Avalanche another chance to restructure the roster around their star-studded core in hopes of winning what would be a second Stanley Cup since 2022. Doing that, however, means they could be faced with quite a few difficult decisions. 

They already took care of one of those decisions prior to July 1 when they re-signed Casey Mittelstadt to a three-year contract worth $5.75 million annually. Getting a new deal done for Mittelstadt allowed the Avalanche's front office to focus on the additional areas they'll need to address to challenge an already crowded field in the Western Conference.

2023-24 result: Lost in the conference finals Key players hitting UFA: F Matt Duchene, F Craig Smith, D Chris Tanev Key players hitting RFA: D Thomas Harley, F Sam Steel Cap space: $16,246,259

What they should do: Whatever it takes to win a Stanley Cup. The Stars made their third Western Conference finals appearance in five years and lost the conference final in six games for a second straight year. These are signs that show how tantalizingly close the Stars are to reaching a Stanley Cup Final. Even though coming up short raised questions, it strengthened the belief that the Stars' championship window is open and could be for some time.

They have a decision to make when it comes to players such as Duchene and Tanev, while figuring out a number that works for Harley, the latest to come off the Stars' assembly line.

Arguably the biggest question facing the Stars this offseason is whether they will revamp their defense. They have only three defensemen under contract for next season as two are RFAs while three are UFAs.

2023-24 result: Missed the playoffs Key players hitting UFA: D Alex Goligoski, D Dakota Mermis Key players hitting RFA: F Mason Shaw Cap space: $6,256,412

What they should do: Get creative with their cap space as they try to find a way back to the playoffs. Missing the final wild-card spot by just 11 points when their team had so many injuries places the Wild in an interesting spot. Especially when they were in the bottom-third of goals per game and goals allowed per game.

But this also comes with the understanding that they have a little more than $6 million in cap space to make those improvements, which could prove difficult. Much of that stems from the combined Zach Parise and Ryan Suter buyouts costing the franchise a collective $14.743 million in cap space before that figure shrinks to $1.66 million for the next four years.

Could the Wild look at possibly moving some money around to create more space? Or do they believe they can add around the edges and field a roster that can compete for what would be a fifth playoff berth in six seasons?

2023-24 result: Lost in the first round Key players hitting UFA: D Tyson Barrie, F Anthony Beauvillier, D Alexandre Carrier, F Jason Zucker Key players hitting RFA: None Cap space: $26,345,801

What they should do: Be strategic in Year 2 of their project. Trading Ryan McDonagh back to the Lightning was the latest example of how Predators GM Barry Trotz is more than fine making the necessary deal if he feels there's a benefit. Moving on from McDonagh and his $6.75 million cap figure gave the Predators even more space to strengthen their roster.

But what moves make the most sense for them? Especially when Trotz has been up front about wanting to continue to use their farm system, which is why they've made a point to get several draft picks. They've had success with recent homegrown talents such as Luke Evangelista and Tommy Novak, and goaltender Yaroslav Askarov could be next.

It's possible the Preds could strike a balance somewhere in the middle by getting the help they need while also having potential opportunities for the next wave led by Egor Afanasyev, Joakim Kemell, Zachary L'Heureux and Fedor Svechkov.

2023-24 result: Missed the playoffs Key players hitting UFA: F Samuel Blais, F Kasperi Kapanen, D Marco Scandella Key players hitting RFA: F Nikita Alexandrov, D Scott Perunovich Cap space: $14,792,738

What they should do: Spend now or risk paying for it later. Being six points out of a playoff spot is another reminder of how the Blues are close but still need a bit more help. Where it does get a little complicated is determining how the Blues should spend that money. They went from being 27th in goals allowed per game in 2022-23 to being 15th with the premise they were eighth in team save percentage in 5-on-5 play.

So while it's possible they could use some of their cap space to address their defensive issues, they could also use some scoring help. They were in the bottom five in terms of scoring chances per game and high-danger scoring chances per game, while being in the bottom 10 of goals per game and the power play. Even though there could be available options in free agency, the Blues will have to be strategic about their choices given they have less than $16 million in cap space unless they can find a way to move more money.

2023-24 result: Missed the playoffs Key players hitting UFA: D Joshua Brown, D Travis Dermott, F Liam O'Brien Key players hitting RFA: D Sean Durzi, F Barrett Hayton, D J.J. Moser, D Juuso Valimaki Cap space: $43,564,524

What they should do: Go throw the bag(s) and become one of the most attractive options in free agency. There's a growing belief that a new city and new ownership means the artist formerly known as the Coyotes could be inclined to spend money. For years, the Coyotes were known for doing what they could to reach the cap floor and being conservative with how they used their cap space.

Could this be the year they change philosophies? And if so, what does that look like? They were 21 points out of the wild card at season's end, but were certainly in the playoff race until a 15-game losing streak saw them go from being above .500 to essentially out of the playoff picture. Getting new deals done for Durzi, Hayton, Moser and Valimaki are expected to be a priority, as they are part of the club's young core.

But to use free agency to bolster that core and challenge for a playoff spot in Year 1 could be the sort of statement that hasn't always been possible. Do they swing for the big names like Guentzel, Reinhart or Montour?

2023-24 result: Lost in the first round Key players hitting UFA: D Brenden Dillon, D Colin Miller, F Sean Monahan, F Tyler Toffoli Key players hitting RFA: F David Gustafsson, F Cole Perfetti, D Logan Stanley Cap space: $8,752,976

What they should do: Be selective with their free agency decisions. The Jets have a chance to revamp their defensive personnel. They have a chance to add new forwards. They also have a chance to potentially move money. This all amounts to the Jets having options and trying to sort through which set of options will allow them to reach the second round for the first time since the 2020-21 season.

They initially began with less than $14 million in cap space but saw that number change upon re-signing defenseman Dylan DeMelo. Even before DeMelo signed, it appeared that the Jets might be in a position to move money to create more flexibility.

That's what makes the situation around Nikolaj Ehlers one to watch. He has a year left on his deal and moving on from him could allow the Jets to save $6 million they could apply elsewhere. It all amounts to the Jets trying to figure out their next flight plan now that Scott Arniel is at the controls of a team that's trying to chart its course in the Western Conference.

2023-24 result: Missed the playoffs Key players hitting UFA: D William Lagesson, F Ben Meyers Key players hitting RFA: D Jackson LaCombe, F Brett Leason, D Gustav Lindstrom, D Urho Vaakanainen Cap space: $33,305,833

What they should do: Continue concentrating on the future. Last offseason saw the Coyotes emerge with what was considered to be one of the strongest offseason hauls. They added veterans to their young core and took another step forward in their project. It's possible that the Ducks could be the team to follow that model this summer.

They've insulated their young core of Leo Carlsson, Cutter Gauthier, Mason McTavish, Pavel Mintyukov and Troy Terry with veterans such as Alex Killorn, Ryan Strome and Frank Vatrano over the past few years. That's in addition to what they already had with Cam Fowler and John Gibson.

It's time to find out if this group can challenge for the playoffs, and if not, any of the veteran signings from this summer can be flipped at the deadline for additional draft capital.

2023-24 result: Missed the playoffs Key players hitting UFA: F A.J. Greer, D Oliver Kylington Key players hitting RFA: None Cap space: $23,199,167

What they should do: Continue to reshape their team. It appears there could be a clearer direction with the Flames which was not the case last offseason. They were in something of a holding pattern because of the uncertainty surrounding the collective futures of Noah Hanifin, Elias Lindholm, Chris Tanev and Nikita Zadorov. All four of them were traded prior to the deadline, which provided some insight into the Flames' direction.

Even more insight was gained June 19 when they traded goaltender Jacob Markstrom to the Devils in a deal that saw them receive defenseman Kevin Bahl and a protected 2025 first-round pick. After the trade, the Flames have a little more than $23 million in cap space. It could provide them with a level of flexibility to address their needs and get out of that middle ground of being a team that was 17 points out of the final wild-card spot while being 34 points clear of the worst record in the conference.

2023-24 result: Lost in the Cup Final Key players hitting UFA: F Connor Brown, D Vincent Desharnais, F Warren Foegele, F Adam Henrique, G Calvin Pickard Key players hitting RFA: D Philip Broberg, F Dylan Holloway Cap space: $10,033,333

What they should do: Whatever it takes to win the Stanley Cup. This offseason has a chance to be one of the most important in recent franchise history.

It was the first time they reached the Stanley Cup Final in the Leon Draisaitl-Connor McDavid era. There's a strong chance they could get there again in 2024-25. Doing that, however, likely means strengthening areas that were a problem at times throughout their postseason run.

Namely, they need consistent secondary and tertiary scoring help. It's been a longstanding need with the Oilers. There were moments when that presence was visible and times when it wasn't. The Oilers having eight unrestricted free agent forwards, which gives them a chance to revamp that part of the roster with the aim of keeping their two-way prowess intact.

The same goes for their defensemen. They'll need to move money around or get creative. They have a little more than $10 million in available cap space to bolster a roster that's trying to win a Stanley Cup as Draisaitl enters the final year of his contract.

2023-24 result: Lost in the first round Key players hitting UFA: F Viktor Arvidsson, G Pheonix Copley, F Trevor Lewis, D Matt Roy, G Cam Talbot Key players hitting RFA: F Quinton Byfield, F Carl Grundstrom, F Arthur Kaliyev, F Blake Lizotte, D Jordan Spence Cap space: $23,450,000

What they should do: Whatever it takes to get out of the first round. Every franchise that has struggled reaches a point when they become a playoff team. Eventually, making the playoffs will not be enough. It's about winning at least one round with the promise that they can win even more. This is the reality facing the Kings as they seek to make the transition from simply being a playoff team to one that can live up to its potential as a legitimate contender.

Those struggles were amplified with the decision to trade Pierre-Luc Dubois to the Capitals in exchange for Darcy Kuemper. Moving on from a top-six center less than a year after trading three players and a draft pick (and signing him to an eight-year deal worth $8.5 million annually) is a mea culpa of sorts.

Now the work begins to get over the hump -- with no shortage of pressure after three straight early postseason exits.

2023-24 result: Missed the playoffs Key players hitting UFA: F Justin Bailey, F Alexander Barabanov, F Ryan Carpenter, G Devin Cooley, F Mike Hoffman, F Kevin Labanc Key players hitting RFA: D Calen Addison, F Luke Kunin, F Filip Zadina Cap space: $29,329,166

What they should do: Continue building for the future. An argument could be had that the Sharks have already had one of the best offseasons before free agency even starts. It started with them winning the draft lottery, and the chance to draft the consensus No. 1 pick in Boston University center Macklin Celebrini. From there, they signed Boston College freshman center Will Smith, the fourth pick of the 2023 draft, to his entry-level contract.

Just like that, the Sharks added two players who project as top-six centers. Celebrini and Smith are the latest to join what the Sharks believe can be a rather promising future that already includes homegrown talents such as Thomas Bordeleau, William Eklund and Mario Ferraro. Claiming Barclay Goodrow off waivers and trading for Ty Dellandrea gives the team some depth options to help make them a tougher out on a nightly basis (as opposed to what we saw in 2023-24).

Even with that much potential, the Sharks are still coming off having the NHL's worst record and are expected to need more time under first-year head coach Ryan Warsofsky. Sharks GM Mike Grier could use this offseason to add veterans who they could then potentially trade ahead of the deadline in order to gain more draft capital.

2023-24 result: Missed the playoffs Key players hitting UFA: F Pierre-Edouard Bellemare, D Justin Schultz Key players hitting RFA: F Matty Beniers, F Tye Kartye Cap space: $23,424,167

What they should do: Use this offseason to establish an identity. Going from a lottery team in Year 1 to a playoff team in Year 2 created the belief the Kraken could be the sort of franchise that challenges for the playoffs every season going forward. Those plans were scuppered by a third season which witnessed various inconsistencies as their biggest consistency.

They've since brought in new head coach Dan Bylsma and have a chance to be one of the more aggressive teams in free agency. While they still need to sort out new deals for Beniers and Kartye, the Kraken should still have the sort of cap space that could allow them to address their needs and improve a team that finished in the bottom five of shooting percentage last season. Do they take a swing at landing the biggest free agent targets? Or hope for improvements internally while adding around the edges?

2023-24 result: Lost in the second round Key players hitting UFA: F Elias Lindholm, F Dakota Joshua, D Ian Cole, D Tyler Myers, D Nikita Zadorov Key players hitting RFA: D Filip Zadina Cap space: $16,053,333

What they should do: Avoid regression at all costs. They have recently drafted a franchise forward (Elias Pettersson), a franchise defenseman (Quinn Hughes) and a franchise goaltender (Thatcher Demko) while making other moves that appeared to have set them up for the future. Finding a way to connect that promise with tangible results has been the issue in Vancouver. Until this season, that is, when the Canucks came within a win of the Western Conference finals.

That outcome has created an expectation, but also a major question: Are the Canucks for real, and can they do it again? Part of the reason the Canucks emerged as one of the season's biggest surprises was the front office's ability to retool the lineup on the fly. It's something Canucks GM Patrik Allvin and his front office staff will have to do again next season, as they have three defensemen who are pending UFAs, while Zadina will be a pending RFA.

And once they are done with that, they'll have to figure out the next steps when it comes to re-signing Lindholm -- or figuring out how to replace him.

2023-24 result: Lost in the first round Key players hitting UFA: F Michael Amadio, F William Carrier, F Jonathan Marchessault, D Alec Martinez, F Chandler Stephenson Key players hitting RFA: F Pavel Dorofeyev Cap space: $1,197,516

What they should do: Whatever it takes to win another Stanley Cup. Winning at all costs comes with a price, and this year it appears the cost could be losing both Marchessault and Stephenson. Being forced to move on from a pair of top-nine forwards could prove catastrophic for the Golden Knights. Especially when they are going to have $1.197 million in cap space while trying to address other needs such as filling out their bottom six.

Then again, they are the Golden Knights -- finding solutions when none seem feasible has become an essential part of how they operate. Somewhere in suburban Las Vegas, there's a chance GM Kelly McCrimmon has a dry-erase board filled with hypotheticals the club could explore that involve moving money, making a few savvy additions and still fielding a team that could win a second Cup in three seasons.