The Vegas Golden Knights are heading toward opening night against the Chicago Blackhawks on September 29 with $1.9 million in cap space, according to CapWages. At the same time, more than 200 free agents are still hunting for work, and that’s the kind of pool that can make PTO season worth watching.
For Vegas, the idea isn’t necessarily about filling glaring holes. It’s about giving camp invites to veterans who can still help, whether that means insurance, depth, or a low-cost swing at a player with real track record. Three names stand out as possible PTO fits.
Matt Grzelcyk is the defenseman who makes the most sense if Vegas wants a veteran option without shaking up the blue line too much. The Golden Knights’ three pairings are close to set, but Jeremy Lauzon could be rotated out every few games without causing major disruption. That opens the door for a player like Grzelcyk, who is still unsigned in the middle of August despite once being a 40-point defenseman.
There’s also a built-in connection that would matter if Bruce Cassidy were still coaching in Vegas, since Grzelcyk spent eight seasons with his hometown Boston Bruins. Over that stretch, he posted 135 points in 445 games and finished plus-237.
He also had one season with the Pittsburgh Penguins that produced a goal and 39 assists for 40 points on a non-playoff team. Last year with the Chicago Blackhawks, he had 12 assists in 69 games and was minus-9.
With Pittsburgh, he also logged 15 power-play points, and the only times he has finished as a minus player outside of Chicago were with the Penguins. Add in 66 games of playoff experience and a trip to the 2019 Stanley Cup Final, and there’s plenty there for a camp look.
James van Riemsdyk is another veteran who fits the PTO conversation, especially after Vegas lost Pavel Dorofeyev, who scored 72 goals over the past two seasons. The decision there came down to money, and van Riemsdyk would not be a difficult financial fit based on what he made last year with the Detroit Red Wings: $1.9 million. He’s no longer the 20-goal scorer he was seven times during his 17-year career, but he has never finished a season with fewer than 11 goals.
He also brings a résumé that includes plenty of production and one missing piece: a Stanley Cup. Van Riemsdyk has only reached the Final once, back in 2010, so a shot with the Golden Knights could hold real appeal if he wants one more run at a ring.
Last season he was minus-17, but he still chipped in seven power-play goals. The year before, he had 15 power-play goals in Columbus.
He would not be a league-minimum signing, but the right chance at a championship could make a pay cut possible.
Then there’s Vladimir Tarasenko, the biggest name of the group and the one with the most obvious championship pedigree. He’s already won the Stanley Cup twice, once with St.
Louis and again with Florida, which puts him in a different category from most of the remaining free agents. At 34, injuries have slowed him over the last decade, but last season with the Minnesota Wild he still produced 23 goals and 47 points.
In the right system, that kind of output could put him back in the 25-goal range.
The concern is the defensive side of the ledger. Tarasenko has a minus-24 rating over the last two seasons, and his only playoff action last year came with the Wild, who were eliminated by Colorado in the second round.
Still, his postseason record is hard to ignore: 132 playoff games, 51 goals, and 78 points. If he stays healthy and plays close to a full schedule, he could move toward 1,000 games and 750 points in 2027-28.
Given Vegas’ comfort with big-name additions, and the fact that he played on a $3.3 million deal last year, Tarasenko could be the kind of value play that looks like a steal if the contract is structured the right way.
One honorable mention belongs to Reilly Smith, an Original Misfit still without a deal heading into 2026-27. In his first full season back with Vegas last year, he scored 16 goals and 26 points while finishing minus-9.
He added two assists in seven playoff games. At $1.4 million last season, another contract would fit under the cap without much maneuvering, but the fact that he still hasn’t been signed makes another year in Vegas feel unlikely right now.
In Other News...
Golden Knights Chose Patience While Familiar Faces Cashed In Elsewhere
The Golden Knights spent much of the offseason taking the slower, steadier route, keeping their own business in order while a flurry of big-money deals rippled across the league. Vegas extended Rasmus Andersson, brought back Victor Olofsson and made a coaching change by promoting Ryan Craig after parting ways with John Tortorella, a set of moves that looked modest next to the headline-grabbing contracts being handed out elsewhere.
Among the familiar names cashing in were former Golden Knights Alex Tuch and Pavel Dorofeyev, who both landed long-term security with the Washington Capitals and New York Rangers, respectively. Those deals are the kind that can look smart or risky depending on how the next few seasons unfold, and they also underscore how deliberately Vegas chose its own path, betting that patience and restraint may age better than the rush to lock in every major piece on the market. [Read more 🡒]
Hurricanes Just Got A Dynasty-Level Stanley Cup Case
The NHLs next five-year window has a handful of clubs with a real chance to keep the Stanley Cup conversation crowded, and Vegas is right in that mix. The Golden Knights have already shown what a modern contender can look like, with a roster built to compete immediately and an organization that has spent recent seasons establishing itself among the leagues most dangerous teams. For a team like Vegas, the standard is no longer just making noise in the West, but staying positioned to chase the Cup year after year.
Still, the broader argument around the league is shifting as Carolina gets framed as the team with the clearest dynasty-level case. The Hurricanes are being measured not only against recent champions, but against other heavyweight threats such as Dallas, Montreal, Colorado, and Vegas, each of them carrying their own combination of talent, coaching stability, and recent playoff relevance. For the Golden Knights, that means the pressure stays constant: the path is there, but so is the competition. [Read more 🡒]
Ryan Craig Faces One Test Golden Knights Fans Will Care About
Ryan Craig enters the new season with the kind of job that can feel steady right up until it is not. The Golden Knights have been through coaching change before, and the bar in Vegas is never subtle: manage the room, steer through the rough patches that come with an 82-game season, and keep a team built to contend pointed toward another Stanley Cup run.
Craigs real test is bigger than any one night on the schedule. He has to avoid the sort of noise that can distract a contender, handle the hard stretches without letting them spiral, and keep a veteran group buying into the details when the season gets messy. In a market that expects results and remembers how quickly things can shift, the question is not whether the Golden Knights are watching closely, but how Craig handles the first serious challenge when it arrives. [Read more 🡒]