Offer sheets are one of the most complex parts of NHL contracts. It's not surprising to see how rare they are in today's league.
The tactic for signing restricted free agents from other teams was utilized much more often in the '80s and '90s, with each summer bringing offer sheet drama.
However, nowadays, offer sheets are extremely uncommon. Not only do they rarely come to fruition, but teams more often than not have matched the recent offer sheets. In fact, only twice in this century has a club elected not to match an offer and part ways with a player.
The Sporting News explains what an offer sheet is in the NHL, and what the compensation is for one.
MORE: NHL entry-level contract, explained
What is an NHL offer sheet?
An offer sheet is an NHL contract that is offered from one team to an eligible restricted free agent whose rights are owned by a different NHL club.
If a player chooses to sign an offer sheet with another NHL team, their original team has two options. The club can decide either to match the offer sheet, which means they inherit the signed contract as is, or they can choose not to match.
If a club elects not to match, the player joins the other team with their contract being the offer sheet. In return, the original team gets compensation in the form of draft picks from the signing team, depending on what the average annual value of the offer sheet was.
NHL offer sheet qualification
Only certain players are eligible for an offer. All of these players are restricted free agents, along with the following criteria.
- Have at least one NHL contract expire
- Have played at least 80 NHL games if a forward or defenseman, or 28 NHL games if a goalie (applies only for players who have 3 years of NHL service)
- Be younger than 27 on July 1 of that year
- Be without a contract for the upcoming season
- Be tendered a qualifying offer by the current team by June 25 or the Monday after that year's NHL Entry Draft (whichever is later)
NHL offer sheet compensation
There are seven tiers when it comes to offer sheet compensation that is entirely based on the AAV of the offer sheet.
It used to be that players, draft picks and/or cash could be sent the offer way if an offer sheet was not matched. However, now, a team will solely receive draft picks for not matching an offer sheet.
Here is how the tiers break down and what the compensation given out is.
| AAV | Compensation |
| $1 - $1,511,701 | None |
| $1,5111,701 - $2,290,457 | 1 3rd-round pick |
| $2,290,457 - $4,580,917 | 1 2nd-round pick |
| $4,580,917 - $6,871,374 | 1 1st-round pick, 1 3rd-round pick |
| $6,871,374 - $9,161,834 | 1 1st-round pick, 1 2nd-round pick, 1 3rd-round pick |
| $9,161,834 - $11,452,294 | 2 1st-round picks, 1 2nd-round pick, 1 3rd-round pick |
| $11,452,294 or more | 4 1st-round picks |
NHL offer sheet history
| Player | Year | Original Team | Offer | Offer Team | Result | Compensation |
| Philip Broberg | 2024 | Edmonton Oilers | 2 years, $4.5 million | St. Louis Blues | Not Matched | 2nd-round pick in 2025 |
| Dylan Holloway | 2024 | Edmonton Oilers | 2 years, $2.2 million | St. Louis Blues | Not Matched | 3rd-round pick in 2025 |
| Jesperi Kotkaniemi | 2021 | Montreal Canadiens | 1 year, $6.1 million | Carolina Hurricanes | Not Matched | 1st and 3rd-round picks in 2022 |
| Sebastian Aho | 2019 | Carolina Hurricanes | 5 years, $42.27 million | Montreal Canadiens | Matched | N/A |
| Ryan O'Reilly | 2013 | Colorado Avalanche | 2 years, $10 million | Calgary Flames | Matched | N/A |
| Shea Weber | 2012 | Nashville Predators | 14 years, $110 million | Philadelphia Flyers | Matched | N/A |
| Niklas Hjalmarsson | 2010 | Chicago Blackhawks | 4 years, $14 million | San Jose Sharks | Matched | N/A |
| Steve Bernier | 2008 | Vancouver Canucks | 1 year, $2.5 million | St. Louis Blues | Matched | N/A |
| David Backes | 2008 | St. Louis Blues | 3 years, $7.5 million | Vancouver Canucks | Matched | N/A |
| Dustin Penner | 2007 | Anaheim Ducks | 5 years, $21.5 million | Edmonton Oilers | Not Matched | 1st, 2nd and 3rd-round picks in 2008 |
| Thomas Vanek | 2007 | Buffalo Sabres | 7 years, $50 million | Edmonton Oilers | Matched | N/A |
| Ryan Kesler | 2006 | Vancouver Canucks | 1 year, $1.9 million | Philadelphia Flyers | Matched | N/A |
| Sergei Federov | 1998 | Detroit Red Wings | 6 years, $38 million | Carolina Hurricanes | Matched | N/A |
| Mattias Ohlund | 1997 | Vancouver Canucks | 5 years, $10 million | Toronto Maple Leafs | Matched | N/A |
| Chris Gratton | 1997 | Tampa Bay Lightning | 5 years, $16.5 million | Philadelphia Flyers | Not Matched | 4 1st-round picks |
| Joe Sakic | 1997 | Colorado Avalanche | 3 years, $21 million | New York Rangers | Matched | N/A |
| Arturs Irbe | 1996 | San Jose Sharks | 1 year, $400,000 | Dallas Stars | Not Matched | None |
| Ron Tugnutt | 1996 | Washington Capitals | >$400,000 | Ottawa Senators | Not Matched | None |
| Keith Tkachuk | 1995 | Winnipeg Jets | 5 years, $17.2 million | Chicago Blackhawks | Matched | N/A |
| Stu Grimson | 1995 | Detroit Red Wings | 5 years, $2.5 million | New York Rangers | Matched | N/A |
| Shayne Corson | 1995 | Edmonton Oilers | 5 years, $6.975 million | St. Louis Blues | Not Matched | 1st-round picks in 1996, 1997 |
| Steven Rice | 1994 | Edmonton Oilers | 1 year, $1.7 million | Hartford Whalers | Not Matched | Bryan Marchment |
| Mike Craig | 1994 | Dallas Stars | 4 years, $2.4 million | Toronto Maple Leafs | Not Matched | Peter Zezel, Grant Marshall |
| Scott Stevens | 1994 | New Jersey Devils | 4 years, $17 million | St. Louis Blues | Matched | N/A |
| Petr Nedved | 1994 | Vancouver Canucks | 3 years, $12 million | St. Louis Blues | Not Allowed to Match | Craig Jenney, 2nd-round picks |
| Marty McSorley | 1993 | Los Angeles Kings | 5 years, $10 million | St. Louis Blues | Matched | N/A |
| Kelly Miller | 1993 | Washington Capitals | 2 years, $2.65 million | San Jose Sharks | Matched | N/A |
| Craig Simpson | 1993 | Edmonton Oilers | 3 years, $3.09 million | San Jose Sharks | Invalidated | N/A |
| Teemu Selanne | 1992 | Winnipeg Jets | $2.7 million | Calgary Flames | Matched | N/A |
| Sergei Makarov | 1992 | Calgary Flames | 4 years, $2 million | San Jose Sharks | Matched | N/A |
| Dave Manson | 1992 | Edmonton Oilers | 3 years, $3.4 million | Washington Capitals | Matched | N/A |
| Kevin Stevens | 1991 | Pittsburgh Penguins | 5 years, $5.375 million | Boston Bruins | Matched | N/A |
| Adam Graves | 1991 | Edmonton Oilers | 5 years, $2.44 million | New York Rangers | Not Allowed to Match | Troy Mallette |
| Troy Crowder | 1991 | New Jersey Devils | Undisclosed | Detroit Red Wings | Not Allowed to Match | Dave Barr, Randy McKay |
| Michel Goulet | 1991 | Chicago Blackhawks | 4 years, $2.9 million | St. Louis Blues | Matched | N/A |
| Brendan Shanahan | 1991 | New Jersey Devils | 3 years, $3.015 million | St. Louis Blues | Not Allowed to Match | Scott Stevens |
| Dave Tomlinson | 1991 | St. Louis Blues | 1 year, $200,000 | Boston Bruins | Not Matched | Part of Featherstone compensation |
| Glen Featherstone | 1991 | St. Louis Blues | 2 years, $500,000 | Boston Bruins | Not Matched | Dave Christian, 3rd-round pick in 1992, conditional pick, Dave Tomlinson |
| Dave Christian | 1991 | Boston Bruins | 3 years, $1.775 | St. Louis Blues | Dropped | N/A |
| Scott Stevens | 1990 | Washington Capitals | 4 years, $5.1 million | St. Louis Blues | Not Matched | 5 1st-round picks |
| Larry Robinson | 1989 | Montreal Canadiens | 3 years, $1.6 million | Los Angeles Kings | Not Matched | None |
| Guy Lafleur | 1989 | New York Rangers | Undisclosed | Quebec Nordiques | Not Matched | 5th-round pick in 1990, $100,000 |
| Geoff Courtnall | 1988 | Edmonton Oilers | Undisclosed | New York Rangers | Matched | N/A |
| Gary Nylund | 1986 | Toronto Maple Leafs | 3 years, $620,000 | Chicago Blackhawks | Not Matched | Ken Yaremchuk, Jerome Dupont, 4th-round pick in 1997 |
