Let the frenzy begin.
Monday marks the official turning of the page in the NHL, as the 2023-24 campaign comes to an end and the 2024-25 season begins. Contracts have expired, and players are hitting the open market as free agents.
The madness did not wait for July 1. On the second day of the 2024 NHL Draft, there were plenty of trades, including Utah landing two key members to its blue line, the Leafs giving themselves a better chance to land one of the top available defensemen, and the Lightning clearing some cap space for a big signing.
There are going to be plenty of new deals being inked between now and the start of the season. For now, the Sporting News is handing out grades for all the major transactions to start the summer.
2024 NHL DRAFT: RESULTS | GRADES
NHL free agency signings grades 2024
Steven Stamkos lands deal with Predators
- Contract details: Four years, $32 million ($8M AAV)
The Stamkos era in Tampa Bay is over. The longtime captain of the Lightning signed a four-year, $32 million contract with the Predators. While injuries and age (34 years old) are a concern for Stamkos, he is coming off an 81-point season. The AAV is certainly on the high side, but there were plenty of suitors for the two-time Stanley Cup champion.
Grade: B+
Elias Lindholm agrees to contract with Bruins
- Contract details: Seven years, $54.25 million ($7.75M AAV)
The Bruins finally have their Patrice Bergeron replacement. Boston signed center Elias Lindholm to give the team its newest No. 1 center. Lindholm spent time with both the Flames and Canucks last season, and didn't really fit in with Vancouver. He should slide in nicely on the top line for the Bruins, who were weak down the middle last season.
Grade: B+
Jonathan Marchessault signs with Predators
- Contract details: Five years, $27.5 million ($5.5M AAV)
In addition to Stamkos, the Predators also land Jonathan Marchessault on a five-year contract. The 2023 Stanley Cup champion and Conn Smythe winner with the Golden Knights posted a career-high 42 goals with Vegas last season. It's an excellent addition, especially at that price, for a player capable of scoring 30 goals year in and year out.
Grade: A
Chandler Stephenson signs with Kraken
- Contract details: Seven years, $43.75 million ($6.25M AAV)
The Kraken add a center to their forward group, bringing in Chandler Stephenson on a seven-year deal worth a total of $43.75 million. Stephenson has a proven track record as a two-way playmaker — with the right linemates. He thrived playing alongside talented offensive weapons both in Washington and in Vegas. Seattle does not have those kinds of forwards to deploy around Stephenson, so it will be interesting to see how he transitions.
Grade: B-
Brandon Montour signs with Kraken
- Contract details: Seven years, $49.98 million ($7.14M AAV)
Seattle is the new home for Stanley Cup champion defenseman Brandon Montour. After helping the Panthers to the 2024 Stanley Cup, the offensive blue liner lands a massive deal to bolster the Kraken's top-four unit.
It is most definitely an overpay on Seattle's part, especially considering Montour regressed this past season (33 points) after a sensational 2022-23 campaign (73 points).
Grade: C-
Jake Guentzel signs contract with Lightning
- Contract details: Seven years, $63 million ($9M AAV)
The Lightning land arguably the biggest fish in the free agency pool, signing Jake Guentzel to a seven-year, $63 million contract, carrying an AAV of $9 million. Guentzel undoubtedly boosts their forward group, and has a history of success in the playoffs. He is coming off a 77-point campaign in 67 games split between the Penguins and Hurricanes.
It comes at the cost of Mikhail Sergachev and likely Steven Stamkos, two key pieces of Tampa Bay's core. At $9 million, it's another hefty contract on the books for the Lightning.
Grade: B
Chris Tanev signs deal with Maple Leafs
- Contract details: Six years, $27 million ($4.5M AAV)
After acquiring his rights from the Stars, the Maple Leafs announce they signed defenseman Chris Tanev to a six-year, $27 million contract. It carries an AAV of $4.5 million.
Tanev is a top-four minute muncher who excels in his own zone. He finished tied for third in blocked shots in the league last season. He can move the puck up the ice well, which has been lacking on Toronto's blue line. At 34 years old, giving Tanev that kind of length is on the riskier side.
Grade: C+
Sam Reinhart re-signs with Panthers
- Contract details: Eight years, $69 million ($8.62M AAV)
As expected, Sam Reinhart and the Panthers agreed to a new eight-year, $69 million contract, keeping the sniper in South Florida. Reinhart put together a 57-goal regular season before helping the team to a Stanley Cup win in 2024, which included scoring the game-winning goal.
Reinhart was anticipated to take a hometown discount to stay on the defending champions, but the fact that Florida got him at such a team-friendly deal is a massive win for the club. After the contract year he had, Reinhart easily could have gotten $10 million on the open market, but clearly wanted to stay with the Panthers.
Grade: A+
NHL free agency trade grades 2024
Mikhail Sergachev traded to Utah
Utah: A-
Utah isn't messing around. The newest NHL franchise wants to contend as quickly as possible, and landing a stud like Sergachev to anchor the blue line is an excellent first step.
The club needed to upgrade its blue line for next year. The team has not had a bona fide No. 1 since the days of Oliver Ekman-Larsson, and none of their young defensemen have taken the reins as that true leader. By bringing in Sergachev, Utah gets a 26-year-old who has shown everything it takes to be a horse on the back end but has rightfully played second fiddle to Victor Hedman in Tampa Bay.
Lightning: B-
Look, I get it — the Lightning had to do everything possible to keep Steven Stamkos. You don't just let the longtime face of the franchise who has brought you two Stanley Cups walk after an 81-point season.
With that said, Tampa Bay is committing an awful lot to its aging core group. Sergachev was supposed to be a part of an influx of young talent who will allow the Lightning to lengthen out this age of contention. Instead, they ship him off in order to clear cap space for Stamkos. It's also not a coincidence that the Lightning have made it known they want to re-sign Victor Hedman to an extension once eligible this summer and will need money for that deal.
Jon Marino traded to Utah
Utah: B+
Utah doesn't land just one top-four defenseman on Saturday. The club swings a deal with the Devils for the young defenseman. This is a strong deal by Utah to buy low on a promising puck mover who fell out of favor with the Devils. Marino should be able to get more minutes on Utah HC, with a chance to secure a top-pairing role.
Devils: C
The Devils and Marino partnership never worked out. New Jersey's blue line is full of young, up-and-coming defensemen, and the team needs more of a veteran presence for that unit. They have been tied to Brett Pesce, and by losing Marino's contract, the Devils should have room to sign the former Hurricane.
Chris Tanev's rights traded to the Maple Leafs
Maple Leafs: B
It's no secret the Maple Leafs were looking to get tougher on the blue line. The club was tied to Tanev for quite some time before electing to pull the trigger on his rights. He's the definition of a pure shutdown defenseman who is excellent in his own zone. It's been a rotating cast of characters filling that role in Toronto, but this gives the Leafs one of the best in the business at shutting down offenses.
Stars: A-
The Stars weren't going to afford to bring back Tanev, losing him for nothing at the start of free agency. They add a late draft pick, picking up something for nothing in the process, which never hurts. It's a tidy bit of business by GM Jim Nill, taking advantage of Toronto's desperation to sign Tanev.
