The NHL’s Sharks, Ducks And ...

On July 1, the NHL will celebrate the 20th anniversary of the introduction of the salary cap with the largest single-year jump in the cap’s history.

But for players, free agency isn’t just about money: it’s also about opportunity. And while the three teams that are currently hoarding the most available cap space heading into July 1 haven’t been big players in recent years, that could change in 2025 — even in the face of stiff competition.

According to PuckPedia, the San Jose Sharks are headed into free agency with the most projected cap space: $41.76 million. The Columbus Blue Jackets are second at $40.4 million, and the Anaheim Ducks are third at $38.69 million.

All three are ready to take the next step, so don’t be surprised if they take some big swings on July 1 — whether that’s in free agency or through blockbuster trades.

In San Jose, the Sharks are heading into Year 4 of the Mike Grier regime. After bottoming out and successfully snagging Macklin Celebrini in 2024, San Jose still finished 32nd overall last season. But Celebrini and Will Smith showed strong signs that they’ll be foundational players, as did goalie-of-the-future Yaroslav Askarov. There’s also more promising young talent in the pipeline.

In his rookie year as an NHL head coach, Ryan Warsofsky also showed a deft hand in managing his players. He added a feather to his cap by guiding Team USA to its first gold medal since 1933 at the world championship. And while Warsofsky may be new on the scene, he has the qualities of a coach who inspires player loyalty.

At the 2025 trade deadline, Grier performed major surgery again. That leaves plenty of roster spots open for players who are looking to make a difference with an emerging squad. Compared to the last few years, San Jose is on the rise as a signing destination.

In Anaheim, the Ducks became a more desirable destination by replacing taskmaster Greg Cronin with Joel Quenneville behind the bench. Though he has been out of the game since 2021, Quenneville’s record speaks for itself: on top of his four Stanley Cups, he has more wins on his resume than any NHL coach not named Scotty Bowman.

Quenneville also has a reputation as the kind of coach that players love to play for. While that should be attractive to free agents in general, could it also be a carrot for a couple of future Hall of Famers who played their best hockey under Quenneville with the Chicago Blackhawks?

After two years out of the game himself, Jonathan Toews has made it clear that he’s ready to attempt a comeback this fall. It will be odd to see him wearing anything other than Chicago colors, but a reunion with his old bench boss could make sense. And while it’s tempting to presume that Toews won’t be a high-impact player at age 37, the current playoff exploits of similarly aged Brad Marchand and Corey Perry would suggest otherwise. Gabriel Landeskog and Evander Kane have also recently demonstrated that it’s possible to return at a high level after long absences from top-level competition.

If Toews chose to reunite with Quenneville, could Patrick Kane also head west? After going through health issues of his own, Kane is a pending free agent coming off back-to-back 20-goal seasons with the Detroit Red Wings, who haven’t quite found a way to get back into the playoff mix.

Toews and Kane won three Stanley Cups together in Chicago, were represented by the same agent, and played under matching contracts as the Blackhawks’ top stars. If the pair reunited in Orange County, would other free agents be tempted to come along for the ride?

In Columbus, the Blue Jackets knocked at the door of a playoff spot this spring, finishing two points behind the Montreal Canadiens in the Eastern Conference standings. It was an impressive achievement for a new regime led by GM Don Waddell and coach Dean Evason, especially in the wake of the unexpected tragedy of Johnny and Matthew Gaudreau’s deaths.

Gaudreau, of course, defied expectations in 2022, when he chose Columbus as one of that summer’s top free agents. His longtime buddy Sean Monahan joined him last year and became such a pillar of strength in supporting his team and honoring his friend’s legacy that he was voted the 2025 winner of the Masterton Trophy.

Any player who signs with Columbus will know that they're walking into a dressing room where players truly have each other’s backs. They'll also be walking onto a roster that features 2025 Norris Trophy finalist Zach Werenski and a strong group of emerging talents, many of whom had career years in 2024-25.

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