The NHL had game-changing and important moments in 2025, including a new collective bargaining agreement, a record-setting contract, shocking blockbuster trades and more.
It's the last day of 2025, and while many like to look ahead to the new year, it's appropriate to look back on what was.
The NHL has gone through several defining moments in 2025. Some big blockbuster trades took place, an international best-on-best tournament returned for NHL players, a new collective bargaining agreement avoided a lockout, the salary cap rose significantly, and so much more.
There are plenty of events in 2026 to look forward to, and outdoor games and the Olympics in Milan are just a couple to name. But with a great year of hockey passing by, let's take a look at the 10 most significant NHL-related moments of 2025.
10. New York Islanders Select Matthew Schaefer First Overall
In early May, the New York Islanders won the NHL draft lottery. Fast-forward to June 27, and the Islanders selected defenseman Matthew Schaefer with the No. 1 pick of the 2025 draft.
It was a particularly emotional night for Schaefer and his family.
His mother, Jenniffer, passed away in February 2024 to breast cancer. When he stepped onto the stage, he pulled his Islanders jersey over his head with tears in his eyes. On the jersey was a special purple Hockey Fights Cancer ribbon in honor of his late mother.
9. New CBA And Salary Cap Increase
In February, the NHL and NHLPA agreed on a new CBA that will take full effect for the 2026-27 campaign.
The new CBA includes an 84-game regular season, a playoff salary cap, a maximum seven-year contract extension, the end of the dress code for players and other new regulations.
Before the announcement of the new CBA, the NHL and NHLPA revealed a spike in the salary cap over the next three seasons. The cap jumped to $95.5 million this season and will climb to $104 million next season and $113.5 million for the 2027-28 campaign.
8. Kirill Kaprizov And Connor McDavid Extensions
The Minnesota Wild and GM Bill Guerin broke the bank for superstar Kirill Kaprizov when they signed him to an eight-year contract worth $17 million per season, the biggest contract in NHL history.
Just one week later, Edmonton Oilers' Connor McDavid signed a contract extension of his own. The highly anticipated deal remained at the same cap hit as his previous contract at $12.5 million for another two years.
From Kaprizov's record-breaking signature to fans wondering if McDavid would stay in Edmonton any longer, it was a big week in the NHL between Sept. 30 and Oct. 6.
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Kirill
Kaprizov’s new contract is an NHL history-maker, and Connor McDavid chose not to break it one week later.
7. Mitch Marner Joins The Vegas Golden Knights
Just before free agency, the Toronto Maple Leafs lost right winger Mitch Marner in a sign-and-trade with the Vegas Golden Knights.
This marked a big day for both teams, as the Golden Knights added another superstar, while the Maple Leafs moved on from one of their most talented players in franchise history. Marner joined Vegas on an eight-year contract with Vegas at a $12-million cap hit, and Toronto received center Nicolas Roy in return.
The debate remains whether the Leafs are better off without Marner. But one evident thing is that Toronto hasn't done any better without him so far, according to the standings.
6. Vancouver Canucks Trade Away Quinn Hughes And J.T. Miller
It wasn't long ago when the Vancouver Canucks traded away superstar defenseman Quinn Hughes to the Wild in a blockbuster deal. In the early stages of 2025, they also traded away center J.T. Miller.
Canucks president Jim Rutherford pulled the trigger on both moves with conviction. For Hughes, it was a hockey trade that saw Vancouver receive Zeev Buium, Marco Rossi, Liam Ohgren and a first-round pick in the 2026 NHL draft. With Hughes' camp informing the Canucks he wasn't going to sign a contract extension next summer when he became first eligible to do so, the team got what they could to avoid losing him for little or nothing later on.
Miller's case was the result of the team defusing a rift between him and Elias Pettersson. The Canucks received Filip Chytil, Victor Mancini and a 2025 first-round pick.
5. Mikko Rantanen Trade(s)
As the Colorado Avalanche seemed to have trouble locking up Mikko Rantanen to a new contract, they decided to move on from him in a three-way deal with the Carolina Hurricanes and Chicago Blackhawks.
The Hurricanes received Rantanen's services and sent Martin Necas in a package to the Avalanche. Carolina also received Taylor Hall in the trade.
After playing 13 games for the Canes, Rantanen was moved again to the Dallas Stars at the trade deadline for Logan Stankoven and multiple draft picks.
Immediately following the trade, Rantanen signed an eight-year deal with the Stars at $12 million in average annual value.
4. Florida Panthers Win Back-To-Back Stanley Cups
The Florida Panthers became the third team in the Salary Cap Era to win back-to-back Stanley Cups, both against the Oilers. Last year was also the third straight Cup final for the Panthers.
It's been a rougher season for the Panthers with stars Matthew Tkachuk and Aleksander Barkov missing significant time. Nonetheless, the Cats are on the hunt for their third straight Cup - that hasn't been done since the Islanders won four straight in 1980 to 1983.
Florida is tied for the fifth-closest odds to win the Cup this year at 10.00 (+900), according to BetMGM.
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3. Alex Ovechkin Breaks Wayne Gretzky's Regular-Season Goal Record
On April 6, hockey fans got to experience a moment they may never experience again in their lifetimes. Washington Capitals captain Alex Ovechkin broke Wayne Gretzky's all-time NHL regular-season goal record, with goal No. 895.
The build-up to the occasion was tremendous, and the moment the puck went past Islanders goaltender Ilya Sorokin was iconic, much like Ovechkin's celebration.
Washington's bench cleared as his teammates went on to congratulate him on the historic moment. Commissioner Bettman and Gretzky himself later joined him on the ice for a special ceremony before the game continued.
2. Hockey Canada Sexual Assault Trial
A big eye-opener to the hockey world was the trial in London, Ont., featuring five members of the 2018 world juniors team. NHL players Carter Hart, Dillon Dube, Michael McLeod, Alex Formenton and Cal Foote were all found not guilty of sexual assault after the trial, which took place over three months.
Later in the year, the NHL reinstated the five players involved in the case. They were eligible to sign NHL contracts as of Oct. 15 and to play as of Dec. 1.
Since then, only Hart has made an NHL appearance, as he signed a two-year contract with the Golden Knights. The others are either playing in the AHL or overseas.
1. Canada And USA Battle At 4 Nations Face-Off
The 4 Nations Face-Off in February was the first time NHL players could feature in a best-on-best international tournament since the 2016 World Cup of Hockey.
The tournament was action-packed with an unmatched level of intensity and skill. Canada and USA's two matchups highlighted the competition, with the three fights in the opening of the first contest, and the championship game later on. With the surrounding political climate and the words "51st state" being thrown around, these games meant much more than originally thought.
Team USA beat Canada 3-1 in the round-robin and led part of the final before Canada's Sam Bennett scored the equalizer. In overtime, Mitch Marner fed Connor McDavid a pass in the low slot, and he capitalized on the chance to win it all for Canada.
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BOSTON – The 4 Nations Face-Off did not disappoint.<u></u><u></u>
The tournament was a phenomenal one-time replacement of the NHL's all-star festivities and a great introduction to more international hockey coming down the road, including the 2026 Olympics, 2028 World Cup of Hockey, and so forth.
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