The second most important thing in NHL free agency is cap space.Â
As we all know, the most important piece for NHL free agency in 2026 is whether or not the state you’re looking to play in has a state income tax. I don’t mean to rile up the fans of teams residing in blue states and Canada when I point out that four of the last six Stanley Cup champions have hailed from no-income-tax states.Â
With the free agency period now over, now’s a good time to look at where each team’s cap space stands. Here’s a look at where all 32 teams rank in terms of money left to spend as of July 20.
Teams With Most Cap Space in NHL Entering Free Agency
| Rank | Team | Cap Space |
| 1 | Columbus Blue Jackets | $23.27 million |
| 2 | Detroit Red Wings | $19.57 million |
| 3 | Seattle Kraken | $18.41 million |
| 4 | Vancouver Canucks | $17.81 million |
| 5 | Calgary Flames | $14.88 million |
| 6 | Chicago Blackhawks | $14.88 million |
| 7 | Philadelphia Flyers | $13.94 million |
| 8 | Pittsburgh Penguins | $13.68 million |
| 9 | San Jose Sharks | $12.94 million |
| 10 | Dallas Stars | $10.64 million |
| 11 | Carolina Hurricanes | $9.88 million |
| 12 | Montreal Canadiens | $9.78 million |
| 13 | Anaheim Ducks | $9.07 million |
| 14 | Nashville Predators | $7.55 million |
| 15 | Winnipeg Jets | $5.53 million |
| 16 | Boston Bruins | $5.39 million |
| 17 | Buffalo Sabres | $5.12 million |
| 18 | Edmonton Oilers | $4.73 million |
| 19 | Utah Mammoth | $4.58 million |
| 20 | St. Louis Blues | $4.37 million |
| 21 | Ottawa Senators | $4.2 million |
| 22 | New Jersey Devils | $3.85 million |
| 23 | Tampa Bay Lightning | $3.23 million |
| 24 | New York Islanders | $3 million |
| 25 | New York Rangers | $2.4 million |
| 26 | Los Angeles Kings | $1.83 million |
| 27 | Florida Panthers | $1.22 million |
| 28 | Minnesota Wild | $1.12 million |
| 29 | Colorado Avalanche | $429 thousand |
| 30 | Washington Capitals | $75 thousand |
| 31 | Toronto Maple Leafs | -$2.75 million |
| 32 | Vegas Golden Knights | -$8.61 million |
Columbus Blue Jackets, $23,270,001
As the offseason winds down, Columbus is left sitting with more than $23 million in cap space. How did the Blue Jackets get here?
Before free agency begins, cap space can look like an opportunity to improve.Â
Look at San Jose, for example, which had the most cap space at more than $46 million at the beginning of free agency. After big signings — they added Jacob Trouba, Michael Kesselring, and Mason Marchment, among others — they’re now ninth on the list.Â
With free agency now over, Columbus still having $23 million to spare looks more like a missed opportunity.Â
The biggest deal the Blue Jackets have handed out so far was a 2-year, $1.94 million entry-level contract for a goalie they drafted in the second round.Â
They have yet to get a deal done for 21-year-old center Adam Fantilli, who was selected third overall by Columbus in 2023. However, there’s some buzz that Fantilli could get offer-sheeted, but they certainly have the cap space to withstand that.
The Blue Jackets have certainly not been proactive this offseason in trying to improve a team that hasn’t made the playoffs since 2020.
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