NHL Free Agency: What You Need to Know

With the NHL free agency period just around the corner, fans are wondering what to expect. Here’s a quick primer on what you need to know.

Introduction

Now that the Stanley Cup has been awarded and the NHL Draft is in the rearview mirror, it’s time for NHL free agency to begin.

Here’s a look at what you need to know about this year’s free agency class, which features some big-name forwards, defensemen and goaltenders who could be on the move.

NHL free agency opens on July 1, with teams able to start signing players at 12:01 p.m. ET.

Key Dates

The NHL free agency period begins on July 1st and runs through to August 4th.

During this time, teams can speak with and sign unsigned players to a contract.

Players who have completed their entry-level contract (ELC) are known as restricted free agents (RFA), while those who have completed any other type of contract are known as unrestricted free agents (UFA).

In order to become a UFA, a player must be at least 27 years old or have completed seven seasons in the NHL.

Unrestricted Free Agents

Under the collective bargaining agreement between the NHL and the NHL Players’ Association, players become unrestricted free agents (UFA) when they turn 27 years old or have completed at least seven seasons in the NHL.

In order to become a UFA, a player must have spent the entire season with only one team. If a player is traded during the season, he is not eligible for UFA status at the end of that season.

Players who are 26 years old or younger and have played three or fewer seasons in the NHL are restricted free agents (RFA). These players can still sign with their current team or sign an offer sheet with another team, but their current team has the right to match any offer sheet. If their current team chooses not to match an offer sheet, they will be compensated with draft picks from the team that signs their player.

Restricted Free Agents

A restricted free agent (RFA) is a player who is not eligible for unrestricted free agency because he has not completed the required number of seasons in the NHL, or he has been given a “qualifying offer” by his current team. A qualifying offer is a one-year contract offer that matches the salary of the player’s previous contract.

If an RFA receives an offer sheet from another team, his current team has seven days to match the offer and keep him. If the current team does not match the offer, it may receive draft pick compensation from the signing team.

An unrestricted free agent (UFA) is a player who is eligible to sign with any team, without restriction, when his contract expires. A UFA is typically a veteran player who has completed at least three seasons in the NHL, or a young player who has played less than three seasons and did not receive a qualifying offer from his most recent team.

Salary Cap

NHL teams must stay under a salary cap set by the NHL each season. The 2019-20 salary cap is $81.5 million, and the 2020-21 salary cap is $88.2 million. The salary cap is based on league revenues and is calculated each year.

teams can go over the salary cap by up to 10% during the off-season, but must be at or under the salary cap by the start of the regular season.

Conclusion

As we approach the NHL free agency period, it is important to know what to expect. With many teams having salary cap space, there will be a lot of movement around the league. Keep an eye on your favorite team’s cap situation and be prepared for some big changes.