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NHL Power Rankings: Top storylines heading into NHL Free Agency

NHL Power Rankings

SAN JOSE, CALIFORNIA - APRIL 07: Matthew Tkachuk #19 of the Calgary Flames is congratulated by Johnny Gaudreau #13 after scoring a goal against the San Jose Sharks during the first period of an NHL hockey game at SAP Center on April 07, 2022 in San Jose, California. (Photo by Thearon W. Henderson/Getty Images)

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In this week’s edition of the NHL Power Rankings we take a look ahead to the start of free agency on Wednesday and the top storylines that will unfold over the next few days.

Will Johnny Gaudreau reach the open market? Will Pittsburgh find a way to keep Evgeni Malkin? Just how low will the Chicago Blackhawks go in their rebuild? How about that goalie market?

We take a look at all of those stories and more.

What are we paying attention to most?

To this week’s NHL Power Rankings!

1. Will Calgary get Johnny Gaudreau and Matthew Tkachuk signed long-term?

Gaudreau and Tkachuk were one of the most dominant duos in the NHL during the 2021-22 season, and there is a very strong and convincing argument to be made that they were the most dominant duo. When those two were on the ice the Flames were a runaway freight train that steamrolled over everybody they played. They are both in need of new contracts this offseason, with Gaudreau still eligible for unrestricted free agency and Tkachuk a restricted free agent. Gaudreau will have no shortage of suitors if he reaches the open market and would seem a lock to sign the biggest contract this offseason. The Flames’ ability to re-sign him and work out an extension with Tkachuk will go a long way toward determining what their next few years will look like.

2. Will Evgeni Malkin be back in Pittsburgh?

The Penguins have already re-signed two of their top unrestricted free agents by agreeing to long-term deals with Bryan Rust and Kris Letang. Malkin still remains a mystery with the start of free agency just days away. The main sticking point seems to be term, with the Penguins seemingly preferring a two-or-three year deal and Malkin wanting a four-year deal. The concerns with Malkin are fair. He is going to be 36 years old, he has had major knee injuries the past couple of years, and he is going to start slowing down. In all honesty, he already has. The counterpoint to that is that he is still almost certainly a better option than any potential replacement the Penguins can bring in this offseason.

[Related: Penguins re-sign Kris Letang to six-year, $36.6 million contract]

3. What is Toronto going to do in goal?

This is starting to get interesting. Talks with Jack Campbell do not seem to be progressing, and the goalie market has dried up significantly over the past week with Marc-Andre Fleury, Alexandar Georgiev, and Ville Husso all going off the market. Can they afford Darcy Kuemper? Do they trade for Matt Murray and hope he can rebound? This is a big question mark that still needs to addressed and the options are getting thin.

4. How deep will Chicago’s rebuild go?

Alex DeBrincat, Brandon Hagel, and Kirby Dach are gone. Dominik Kubalik and Dylan Strome seem unlikely to get qualifying offers. Brett Connolly is getting bought out. This team already stinks and it is going to get dramatically worse. The only next logical steps are trading Patrick Kane and Jonathan Toews. They will almost certainly have to eat salary to make those moves happen, and Toews’ value is probably in the tank, but there is really no point in keeping them around at this point given the direction this team is clearly taking.

[Related: Blackhawks trade Alex DeBrincat to Ottawa Senators]

5. What will Edmonton do with its newfound salary cap space?

Thanks to Duncan Keith’s retirement and the trade to dump Zack Kassian’s remaining salary the Edmonton Oilers are actually entering the offseason with some salary cap flexibility. Despite their success this past season it is still a team in need of some major improvements regarding its depth and goaltending. How much are they willing to pay Evander Kane? Can they get Kuemper in free agency?

6. How much will John Klingberg get?

With Letang re-signed in Pittsburgh, the already-thin UFA defense market gets even thinner. It is basically Klingberg, and then a pretty gigantic gap to the next best player. That is bad news for everybody except John Klingberg. He can still bring plenty of offense and is not just the best option for a team in need of a top-four defenseman in free agency; he is probably the only option in free agency.

7. What will the Canucks do with J.T. Miller?

He has been on the trade rumor mill for more than a year. He has just one year remaining on his contract, and it remains to be seen whether or not they can get him re-signed. He has been outstanding with the Canucks and is coming off a career year that saw him record 99 points. He is an impact player, but do not get high hopes for a massive trade return. These deals never bring back what you expect.

8. Who can Colorado keep?

There is no downside to winning, but if there were a downside it would probably be the fact your players get more expensive and you can not keep everybody. Darcy Kuemper is already done, but Andre Burakovsky, Valeri Nichushkin, and Nazem Kadri are all unrestricted free agents, while Arturri Lehkonen is a significant restricted free agent. They do not have the salary cap space to keep everybody. Nichushkin in particular seems like he might be able to really cash in after his playoff run.

[Related: 2022 NHL Free Agency Signing Tracker]

9. How does Tampa Bay solve its salary cap crunch?

The Lightning enter the offseason with no salary cap space and have already traded Ryan McDonagh. Most of the roster remains under contract, but Ondrej Palat is a pretty significant unrestricted free agent. Can they move somebody like an Alex Killorn to create more flexibility?

2022 NHL Stanley Cup Final - Game Three

TAMPA, FLORIDA - JUNE 20: Ondrej Palat #18 of the Tampa Bay Lightning reacts after scoring a goal during the first period against the Colorado Avalanche in Game Three of the 2022 NHL Stanley Cup Final at Amalie Arena on June 20, 2022 in Tampa, Florida. (Photo by Julio Aguilar/Getty Images)

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10. The Bruins offseason

All signs point to Patrice Bergeron returning, but nothing is official yet. There is speculation that David Krejci could return, but that is far from a given. There is also the looming David Pastrnak contract extension that needs to be settled. They could either still look like a strong contender, or take a pretty significant step backwards depending on how all of those play out.

11. Offer sheets?

This is typically a waste of time to discuss because it is rare to see them signed, and even rarer to see them not get matched. But we have seen more of a willingness to go that route in recent years, at least as far as Montreal and Carolina are concerned. Could Calgary be vulnerable to an offer sheet for Andrew Mangiapane if they re-sign Gaudreau and Tkachuk? Would Toronto try to get bold and go for Jake Oettinger? Is there somebody in Carolina (Martin Necas) that Montreal could target to continue their RFA back-and-forth? Somebody might want to look at Arturri Lehkonen in Colorado is the Avalanche have a salary cap crunch.

[Related: NHL Power Rankings: Most intriguing restricted free agent situations]

12. What do the Rangers do?

The New York Rangers had a great playoff run, but there was nothing about it that seemed sustainable. They still need to get better and that might be a challenge. Andrew Copp, Frank Vatrano, and Ryan Strome are all unrestricted free agents and will need to be replaced while also making the necessary improvements to take the next step. As of Monday they have about $10 million in salary cap space to do all of that.

13. Does Detroit have another big move?

It is time for the Red Wings to take the next step in their rebuild. They have some great young core players, made a big move for a goalie (Husso), but they are still facing an uphill battle in that division.

14. How do the Islanders get better?

Speaking of New York teams needing to get better, what about the Islanders? It is pretty clear they think they can still compete and that the 2021-22 season was a fluke (and maybe it was), but they have got to add some offense somewere. Alex DeBrincat and Kevin Fiala have already been traded. Filip Forsberg re-signed in Nashville. Johnny Gaudreau seems like a pipe dream. Could they put together enough of a trade package for J.T. Miller? They need to do something because the team as constructed is not close to good enough.

15. What is the market for the big names that are declining?

Specifically, Claude Giroux, Phil Kessel, and P.K. Subban. Of the three, Giroux is probably still the most productive, but how much is a team willing to give him? Could he return to Philadelphia? Re-sign with Florida? Maybe go closer to home to a suddenly improving Senators team? Kessel is also intriguing because even though his goal scoring has dried up, he remains a solid playmaker that could still produce in the right role.

16. Capitals questions

They still have Ilya Samsonov in net, but is he the answer? How do they find a complement to him? Also what are their plans at center with Nicklas Backstrom’s injury situation? Will he back? Do they LTIR him and find a replacement?