This is Year 1 AC — After Carlsson.
We are in a new era, a new NHL. Players are flexing their muscles more than ever, with teams determined to regain more control over their situations. Cale Makar is the first $20 million player, and Quinn Hughes peers over his shoulder. The cap could be $127.5 million in the fall of 2028, a number we never dreamed we’d see. Commissioner Gary Bettman, who has run the league with an iron fist for almost 35 years, will be 75 next June and admits succession discussions are underway.
If you are my age (an old and creaky 56), there’s one movie line you never forget: “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” That’s Matthew Broderick from Ferris Bueller’s Day Off, and 40 years after it hit the theatres, it’s as true as the first time I heard it. There’s something special about this time of year. Tuesday morning, I will walk into an arena for Opening Day 2026-27, and I’m going to love it. I’m closer to the end of my career than the beginning and I will miss these days when they are gone.
This is an age of change, and more is coming.
It was great to see Lou Lamoriello at the Board of Governors, but it’s different without him in one of the 32 GM chairs. Steve Yzerman is absent. So is Doug Armstrong, although I won’t be the least bit surprised to see him resurface. These were three of the league’s most powerful managers, big personalities with a big say. Eric Tulsky’s Stanley Cup victory gave more teams the confidence to consider an alternate path to the managerial chair.
Even with a Kirill Marchenko conclusion, there are more unsettled situations to start a season than I can remember. From Connor Hellebuyck to Dylan Larkin to Nikita Kucherov to Hughes to Simon Edvinsson to Alexander Nikishin, there is going to be as much focus off the ice as there will be on it. Some of those names are bigger than others, but all are (or will be) impact players for years to come. They are wanted, coveted, and less afraid to rock the boat.
Then, there’s the hockey itself.
If the four-game exhibition schedule did one thing, it was ramp up the intensity. Usually, we’d have to watch Florida/Tampa Bay or Montreal/Ottawa for fireworks. I don’t know what got into everyone’s cornflakes, but this year’s games were nasty and fierce. This is going to be an incredibly entertaining season, especially because few teams are in retreat.
It’s a rebuild in Vancouver, a youth movement in Calgary, a “let’s see how this goes” in Nashville and a desire to compete everywhere else. Teams are not stupid. They see what’s going on out there. They see how players are fleeing what they see as unwinnable situations. No one wants to be that. That rising cap scares them, not only for economic reasons, but also because it gives the best teams — or locations — more money/space to play with. Rebuilding in the NHL is a long and painful process. Many owners only go that route as an absolute last resort.
In 82-game seasons during the salary cap era, just 10 of 75 teams four points out of the playoffs after games on Nov. 1 made the post-season. Fall behind early and you drown.
This is going to be a crazy 84-game season. I can’t wait for it to start.
32 Thoughts: The Podcast
Hockey fans already know the name, but this is not the blog. From Sportsnet, 32 Thoughts: The Podcast with NHL Insider Elliotte Friedman and Kyle Bukauskas is a weekly deep dive into the biggest news and interviews from the hockey world.
1. The league dropped an immediate banger on our laps with Carolina raising the banner against hated rival Florida. Adding to the intrigue: I don’t know who, but someone created a photo of a Hurricanes’ Stanley Cup banner with the caption “Missed the Panthers in the playoffs, 2025-26” — insinuating victory because they avoided Florida. Apparently, it was sent to members of the Carolina organization, big yikes. When I heard that, I thought Rod Brind’Amour was going to play.
2. The delay in completing the Marchenko trade was due to NHL “tagging rules.” Essentially, you can’t have more salary committed for future seasons than the cap allows, so Toronto was not allowed to extend the winger without clearing space beyond this year. I suspect that’s why Emil Andrae was included, as he has $1.55 million owed in 2027-28.
Columbus GM Don Waddell made it clear he didn’t have to trade an unhappy Marchenko yet, especially as the Blue Jackets hope to compete for a playoff berth. There were at least three reasons he reconsidered. First, they were never offered anyone as appetizing as Knies, especially since he’s locked in at great value. He will benefit from “quiet,” not being in three trade rumours per week. Teammates believed he was annoyed at the speculation; had enough of it. Second, the Maple Leafs think so highly of Marchenko — an absolute superstud in their eyes — they were willing to take Elvis Merzlikins and Miles Wood to get it done. They tried their best to hide their interest, but lusted after him, feeling he has the highest ceiling of anyone in this trade. Third, the relationship between Marchenko and head coach Rick Bowness was… uneasy. One very interesting thing: Months ago, word was Marchenko would go to Montreal no problem, but he wasn’t as certain about Toronto. Whatever his initial concerns, he warmed up when it really mattered.
3. A lot of people are asking why Knies was in so many rumours. Fair question. A big reason, I think, is he was one of the only players they could trade without asking permission. The only negative I ever heard about him was concern about the number of injuries he’d suffered in such a short time. That’s it. You have to give quality to get quality.
4. Montreal was aggressive all summer, trying to make it work. But no one they offered excited Columbus as much as Knies. They were creative at the end, trying to involve third teams to either eat Blue Jackets salary or include more palatable players. As for the extension, I do think the Canadiens would have done the six years, $12.5 million AAV Toronto did — even if it altered their tight salary structure. Who else was in there? Boston, the Islanders, Seattle, Tampa Bay. No doubt others. But Knies was impossible to beat.
5. Some other notes on this trade. The condition on the second-round pick is that Columbus gets the lower of Toronto’s two next June. Will Merzlikins be declared unfit to play this season, so the Maple Leafs can access his full cap hit for LTIR usage? The league and NHLPA would have to sign off, but it would make him ineligible through the playoffs. There is talk that it’s not an unrealistic scenario. I spent some time over the past couple of days asking around about Wood, who averaged 14 goals a year over a five-full-season stretch in New Jersey. Injuries have limited his effectiveness, but if he can stick to straight lines and pursuit, he can contribute.
6. The biggest question in the Hellebuyck saga is this: Does Clay Stevenson convince Winnipeg to ease their desire to get a goalie in any trade? This is a huge opportunity for Stevenson, claimed on waivers from Washington, who trains with one of Hellebuyck’s netminder mentors, BC-based Adam Francilia. Ukko-Pekka Luukkonen, one of the Jets’ potential trade targets, can now block a trade to Manitoba, and there is believed to be at least one other goalie they looked at who can do it, too. That’s made the path more difficult. If Stevenson convinces Winnipeg he’s legit, that’s a way to change focus and ease the stalemate.
7. The Oilers considered a Stevenson trade before going with Devon Levi. His new teammates are raving about the ex-Sabre. It just never got off on the right foot for him in Buffalo, and it’s hard to imagine Levi with a better opportunity to make a massive impact on a good team.
8. Hellebuyck badly wants this to end. Players want to play, and this time of year your body clock is telling you to “get off the couch.” Initially, his target was Florida, but the Jets weren’t crazy about the Panthers’ offer — which included Evan Rodrigues, another roster player (possibly Eetu Luostarinen) and the draft-pick package sent to Ottawa for Brady Tkachuk. (No goalie.) Hellebuyck widened his list more than any other player with trade protection this summer, basically anywhere he thought could win. Buffalo was the closest to getting something done. I think Anaheim and Utah were among those that took a peek. We’ll get to Carolina in a moment.
But the biggest challenge for Hellebuyck is that this trade is bigger than him, personally. For the Jets, it’s existential. They have to get this right. If they don’t, they worry about the domino effect. Hellebuyck now… and then who? How many? They’d much, much, much rather make no trade than a bad trade. Everyone here is trying their best to be nice, but it’s stressful.
9. Right now, Carolina is the most motivated pursuer. If Nikishin wanted to sign in Winnipeg, Hellebuyck would already be in Wolfpack country. There are now some teams with permission to speak to Nikishin (who just changed agents), and the suspicion is it’s because the Hurricanes want to see if there’s a three-way available. I mentioned on Monday’s pod that Nikishin is believed to be looking for a $9 million AAV over five years. I had a few sources reach out to say they think that could be lower in the right situation.
St. Louis has been a consistent pursuer, and there are some who are surprised it hasn’t happened. Nashville tried, but wasn’t close enough for what Carolina wants. The Hurricanes were disappointed the Rangers trade didn’t work out and made it clear they would move Nikishin at their own pace. They are motivated now, so we’ll see. Nikishin is a talented player, but has zero leverage under the CBA.
10. Heading into last weekend, Detroit was firm on a bridge for Simon Edvinsson. I say it a lot: If you think someone is a cornerstone, lock him up for as long as you can, because the price never goes down. This is a great opportunity for Shawn Horcoff, but it might be prudent for Detroit to bring in an experienced advisor, a sober second thought, if you will. I can understand the Red Wings don’t desire to make major commitments in the interim, but time does not stop. Edvinsson, Larkin and UFA-to-be Alex DeBrincat must be dealt with sooner or later.
11. Boston is trying to find a new home for Henri Jokiharju, who cleared waivers. There are teams curious to see what they do with Matthew Poitras, who avoided them for the time being. Can’t imagine he’d slide through.
12. Edmonton has no right-shot centres. That’s why you hear a lot of Kirby Dach (plus his history with Stan Bowman). They also took a long look at Shane Wright, but it didn’t get to the finish line. Would have liked to see that fit.
13. Leon Draisaitl said (with a smile) the most honest thing Mike Babcock told him was “he hated my changes.” Evan Bouchard said Babcock told him he didn’t have to hit a home run every play. Sometimes Bouchard-winger-McDavid works just as well as forcing the puck to McDavid.
14. Okay, a breakdown of the equipment crackdown promised by the league. Most of these are protection-related and make perfect sense.
Let’s start with neck guards. That is the sole rule change for 2026-27: Those who never played prior to this season must wear one. If it flies off or unzips during play, you can finish your shift, but must have it properly attached before your next one. As in all of these cases, the first violation is a warning, followed by a minor penalty, a misconduct and a game misconduct (could you imagine?).
Next, helmets. Those who debuted in 2019-20 or later must wear one in warmups. If you don’t, it’s a warning and if you don’t comply with that, you start the game with a minor penalty. There are exceptions, including those taking a first-game rookie lap and/or wearing a toque before an outdoor game.
Let’s go to visors. I think we are down to three no-visor players (Jamie Benn, Zach Bogosian, Ryan O’Reilly) and the key to this enforcement is that it will not happen with anyone who doesn’t have to wear one, because, technically, those players could just remove it. However, if you must (entered NHL 2013-14 or later) and wear it improperly (too high on your head) so it doesn’t provide proper eye protection, you will get the warning, followed by the penalties. I laughed when I heard Leo Komarov was featured on the video package sent to teams. Gone from the NHL for five years, but not forgotten for his visor abuse.
15. That brings us to the Zegras Zone. The Flyers forward got the warning and the minor last week for tucking his jersey. Players are expected to begin shifts with the jersey out. If it gets tucked during a shift, there is to be no punishment. This isn’t a safety issue like the other stuff; tucked jerseys don’t bother me at all and Zegras posting a picture of the Patriots/Raiders 2002 NFL playoff “Tuck Game” was funny.
There was a lot of feedback on why this is so important, ranging from the league’s hard push to market players, to making life easier for broadcasters, to making it so certain cameras can see it, to conspiracy theorists saying it’s only a matter of time before ads are going there. Whatever the case, we all wonder if this one has staying power. It happened a little over a decade ago, and, well… police don’t really want to write tickets for jaywalking. We’ll see where we are in March.
16. Next Board of Governors meeting is in Florida during the second week of December. I thought for sure we’d see one major vote while Kyle Bukauskas sipped Lava Flows at the beach — expansion into Texas. I’m not sure now, because there was more pushback than I’d thought. If this is about a better U.S. television deal, some owners asked why Houston wasn’t the default selection over Austin since it is the largest market in North America without a team. There’s time between then and now (10 weeks), room for alliances to build and discussion to be had, but the way things were being discussed over the summer, it looked like an absolute certainty. Not anymore.
17. The other hot topic will be Bettman’s succession plan. He’s very loyal to deputy commissioner Bill Daly, who’d be an excellent choice and could do the job blindfolded. I wasn’t as certain about this being put to a vote as I was about expansion, but the possibility existed. Instead, some owners fought to have a search. They wouldn’t have a problem with Daly emerging victorious in that way, but want that process. So I don’t know where it stands.
18. Loved that Calgary owner and NHL vice-chair Murray Edwards said it is important there be one Canadian and one American (new Chairman of the Board Ted Leonsis) at the top of the Executive Committee. That should be permanent. It matters.
19. Philadelphia remains the lead horse to host the 2027 Draft.
20. A number of you have asked about Patrik Laine. A few times, I’ve heard rumours of the Kings, but every single time, that has been denied.
21. Yes, Sidney Crosby is an elite human, first-class. But we all know he’s pushing the equipment cart to hide his 20-year-old lucky belt from the cameras.
22. At the Vegas media tour, features producer Paul Sidhu asked Crosby to pick his 60th anniversary all-Penguins starting lineup.
“I’ve got to leave some really good players off this lineup, so I’m going to take some heat for this one,” he laughed. “I’ll go Mario (Lemieux), Geno (Malkin), (Jaromir) Jagr. And then, I gotta go Tanger (Kris Letang). Do I go two righties? I don’t know. I go with (Paul) Coffey or I go two righties, Larry Murphy. I don’t know, both good answers. And then in net, Flower (Marc-Andre Fleury).”
Of course, Crosby left himself out. “Yeah, you asked me to pick a starting lineup. I’m going with them.” End of discussion.
23. Quinn Hughes is — deservedly — the sexiest defenceman currently available next summer, but after that, it’s the Kraken’s Vince Dunn. There were talks between player and team, but there is work to do. Still time.
24. Big summer accomplishment: Seattle’s Jared McCann had his first-ever hole-in-one at Zach Hyman’s golf tournament. Wedge from 135 yards. Sadly, no video.
25. We should get clarity on Brock Faber’s injury/status Tuesday. That was a scary-looking fluke play.
26. Personal request for Calgary’s final season at the Saddledome: During the Flames’ final home game, officially retire No. 2 for Al MacInnis and No. 25 for Joe Nieuwendyk. Enter their brand-new, beautiful building with these two alongside Lanny McDonald (9), Jarome Iginla (12), Mike Vernon (30) and Miikka Kiprusoff (34).
27. I was talking with a couple of executives about storylines and what to watch. I asked if there was anything that I’m missing or wasn’t discussing enough. They both answered, “Ryan O’Reilly.” Over the past two years, team after team tried to pry him out of Nashville and were rebuffed. He didn’t have written trade protection, but there was a verbal promise that the Predators honoured. Now, he’s entering the final year of his contract. If Nashville indicates it won’t extend, what will he choose to do? That’s a question interested parties will want to know. The interest — and respect — for O’Reilly remains high.
28. The Maple Leafs presented the Mayich family with a name-plated team jersey when they visited last week in Arizona. A statement from them: “We would like to extend our heartfelt thanks to the entire Toronto Maple Leafs organization, including the players and staff, for taking the time to support Matthew during his time of need. Your kindness, compassion, and willingness to be there for Matthew truly meant so much to our family. It was a powerful reminder of the human side of professional sports and the impact that genuine support can have beyond the game itself. We are incredibly grateful for your thoughtfulness and support, and we wish the entire Maple Leafs organization the very best in the upcoming season. With sincere appreciation, The Mayich Family.”
29. Correcting an egregious omission from the original written piece on Matthew Mayich: Buffalo’s Owen Power has been hugely supportive and should have been recognized as such.
30. Outstanding story from Mark, a Dallas Stars fan and podcast listener from Widnes, England.
“Back in the spring of this year I was doing some hockey-related research. I was shocked and excited to discover that Lord Stanley of Preston, who donated the Dominion Hockey Challenge Cup (aka the Stanley Cup), had been laid to rest with members of his family in a recently rediscovered crypt under a church in Knowsley, England — a mere 15-minute drive from my home!”
After some renovations to fortify the building, Mark was able to view Lord Stanley’s resting place.
“According to church records, the last burial in the crypt was in 1943 and the last mention of it on record was in 1946. So it had been left completely untouched and forgotten about for 80 years, until springtime this year when some flooring contractors made the discovery of the forgotten crypt. Being from somewhere that hockey isn’t very popular, you always feel a million miles away from the hockey world — especially the NHL — so to have the actual Lord Stanley buried close by makes me feel a little more connected. I just thought it was a cool piece of hockey history that a hockey historian or anyone who loves the game would enjoy knowing about. I’ve attached a couple of photos I took from today to the email if anyone is interested.”
Mark, thank you for sharing, it’s an awesome story. If travelling to England, add it to your list.
31. Over the past few years, we’ve discovered Jacob Trouba’s passion for art. Through Jan. 3, 2027, the Arizona State Art Museum will exhibit Trouba’s work with artist William Wegman.
Per the organization’s website: “Drawing on his experience as an athlete, Trouba covers himself in ink while wearing hockey gear and propels himself across the canvas, leaving behind marks that record speed, force, and impact. Wegman responds by translating those gestures into paintings that reinterpret the movement at an intimate scale, creating an ongoing dialogue between action and reflection.”
Naturally, the exhibit is entitled “Cross Check,” which “reveals how physicality, play, and creative exchange transform movement, whether on the ice or in the studio, into a powerful form of artistic expression.” Here are some photos of what’s on display:
32. I never pick a repeat champion — even though there were three in the last decade, and Carolina is about as good a bet as a team could be. Never. So, I’m going with Edmonton/Florida III in June. Hope there’s a charter.