The rumor mill around the NHL has turned into a full-blown reshuffle, with Chris Kreider, Alex Formenton, Connor Hellebuyck and Quinn Hughes all sitting in very different kinds of limbo.
The cleanest resolution may come first in Anaheim, where Kreider is on unconditional waivers for the purpose of terminating his contract. The expectation is that he and the Ducks will land on a mutual termination, a move that would clear his $6.5 million cap hit off Anaheim’s books this season. That kind of room matters, especially as the Ducks keep working toward a contract with restricted free agent Cutter Gauthier.
Kreider is said to be willing to give up roughly $4 million in salary to get the chance to pick his next landing spot. He has been linked to a return to the Eastern Conference, and teams such as Boston, Philadelphia, Montreal and the New York Islanders are expected to be in the conversation. Even with the contract termination, the market may not leave him far from the money he is walking away from now.
In Edmonton, the Oilers made a quieter but still notable addition by signing Alex Formenton to a one-year deal worth $850,000 AAV. The 26-year-old spent the last three seasons in Switzerland with HC Ambri-Piotta, where he put up 52 points in 88 games. Before that, he played 109 NHL games with Ottawa, scoring 23 goals and adding 16 assists.
Formenton’s pitch to Edmonton is straightforward: speed and penalty-killing help. Whether that earns him a roster spot is another matter. He’s not being handed anything heading into training camp.
He also spoke publicly about the controversy around his signing, saying, “Throughout this whole process I’ve been open and honest about my actions and that has granted me an opportunity today.” Formenton added that he spent the summer training and skating hard and feels ready for the next step.
There was some visible support around him, too. Connor McDavid and Evan Bouchard were both seen backing Formenton at the captain’s skate, and McDavid spent about 10 minutes talking with him before the media session.
The most tangled situation may be in Winnipeg, where Connor Hellebuyck’s trade request is still hanging out there. Elliotte Friedman has said the issue has become more complicated than it looked earlier in the offseason. Hellebuyck and his agent already confirmed that the request was made months ago, and the goaltender reportedly wants it settled before training camp.
The challenge now is that some of the pieces that might have helped get a deal done earlier are no longer available. Florida used major assets to land Brady Tkachuk, and Buffalo’s fourth-overall pick - once viewed as a key part of a possible package - disappeared when the Sabres took Daxon Rudolph.
Pierre LeBrun has identified Carolina, Buffalo and Utah as teams that could still be in the mix.
Then there’s Quinn Hughes, whose future with Minnesota still isn’t settled. TSN’s Chris Johnston reported that the defenseman does not appear ready to sign an extension, and that may include a short-term deal as well. Hughes reportedly liked his time after being acquired from Vancouver, but his long-running interest in the possibility of playing with his brothers remains part of the picture.
Johnston said Hughes has spent the summer figuring out what he wants next, while Minnesota is prepared to make a serious financial push. A shorter contract had been the early assumption, but the latest read suggests Hughes may be keeping everything open and could even steer toward unrestricted free agency. With the signing-bonus deadline getting closer, the decision may come down to how much flexibility he wants.
In Other News...
Former Wild Prospect's Next Move Says Plenty About Minnesota's Pipeline
Graeme Clarkes next stop takes him across the Atlantic, as the former Wild prospect has signed a one-year deal with Frlunda HC in the Swedish Hockey League through the 2026-27 season. Clarke, a forward whose offensive skills and versatility helped him stand out early in his pro career, has already logged time in the AHL and even got a brief NHL look with the New Jersey Devils before continuing his journey through the Minnesota and Washington organizations.
For Minnesota, it is another reminder of how fluid prospect development can be, especially for players who flash enough talent to keep finding opportunities but never quite lock down a long-term NHL role. Clarkes move to Sweden does not close the book on what he could become, but it does say plenty about the path he has taken since leaving the Wild pipeline, and about the tough line teams walk when trying to turn promising skill into a lasting big-league career. [Read more 🡒]
Wild Suddenly Face A Goalie Question That Could Change Everything
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Filip Gustavsson had been a central part of the Wilds crease before Wallstedts emergence, but the depth chart looks different now, and the club has more than one possible path to sort through. Depending on how Gustavsson recovers, Minnesota could be looking at anything from a return to form to a move elsewhere, or even a backup role behind Wallstedt if the situation breaks that way. [Read more 🡒]
Quinn Hughes Just Put The Wild In A Tough Spot
Quinn Hughes is heading into the final season of his current contract with the Wild, and the early tone of his latest comments suggests this is not going to be a rushed process. He said his next deal will be negotiated on his own timeline, acknowledged only limited conversations so far with general manager Bill Guerin, and made clear that his attention is still on what works best for him.
As training camp gets closer, the expectation is that talks will pick up, which at least gives Minnesota a roadmap even if it does not offer much certainty yet. Hughes did not share any financial details from the discussions, leaving the Wild with plenty to monitor as they try to manage a situation that could shape the organizations next move. [Read more 🡒]