NHL Free Agency: A Handful of Needle-Moving RFAs Are Still Waiting

Some promising NHL players are still RFAs in August, including Swayman, Jarvis and Raymond. Adam Proteau looks at five and the risks and rewards of a long-term deal.

As August begins, most of the NHL’s 700-odd players were under contract for the 2024-25 season. However, there are still more than a dozen notable players who are RFAs in need of a new deal. 

We looked at five RFAs in particular early in July who hadn't signed new deals. One of those players has signed a deal since then, with Quinton Byfield getting a five-year contract worth $6.25 million annually.  

In no particular order, here's an August look at five RFAs, what to expect from them and the risk and reward factor of giving them big money and big term.

The Hurricanes have only about $6.4 million in salary cap space per PuckPedia, and they’ll likely have to spend all of it and send a couple of players to the AHL to get Jarvis’ signature on a new contract. 

The 22-year-old generated 33 goals and 67 points in 81 games this past season, and he will be central to Carolina’s blueprint for success this coming year. Jarvis and ‘Canes GM Eric Tulsky may opt for a bridge deal to keep Jarvis’ payday at a palatable number, but after signing Martin Necas to a two-year deal at $6.5 million per season, the Hurricanes must provide more than that to keep him happy.

Risk and reward: Most of Jarvis' breakout 2023-24 campaign came while playing with a shoulder injury, so the big reward of getting him signed long-term is projecting him to be even better when he's fully recovered and being one of the best two-way forwards in the NHL. The main hope and only risk of big money and term is that Jarvis didn't cause any long-term issues while playing with his injury throughout the season.

Dallas GM Jim Nill has once again masterfully managed his cap situation, and the Stars have $6.24 million in cap space to sign Harley. 

The 22-year-old blueliner is an important part of Dallas’ puzzle after a breakout year of 15 goals and 47 points in 79 games. While he could take a bridge deal and gamble on himself in the short term, Harley would probably be happy if he got most, if not all, of the Stars’ remaining cap space on a longer contract. 

Along with fellow defensemen Miro Heiskanen and Esa Lindell, Harley fits into the Stars' defense core for the long run. Nill won’t make the mistake of trying to nickel-and-dime Harley.

Risk and reward: Getting 47 points in your first full NHL season while averaging 21 minutes per game on the blueline points toward long-term success for Harley. He often held his own, so there's the potential for high reward in locking down his contract for years to come. The main risk is Dallas has Jake Oettinger, Wyatt Johnston and Mavrik Bourque as RFAs after this next season, and they'll command hefty raises. Jamie Benn and Matt Duchene will be UFAs as well. The Stars will want plenty of room for those negotiations.

The 25-year-old Swayman made $3.475 million this past season, and his emergence as Boston’s clear-cut No. 1 netminder means he will probably double that amount on a contract extension, as Jim Parsons mentioned on Wednesday. 

The Bruins have $8.63 million in cap space, and it would surprise no one if Swayman’s new deal also ate up most, if not all of that space. Swayman showed he’s the kind of big-money, high-stakes goalie teams build around, and Boston GM Don Sweeney will infuse Swayman with confidence after both sides agree to a long-term pact that pays him more now so they don’t have to pay him much more in a few years from now. 

Risk and reward: After trading Linus Ullmark to the Ottawa Senators, keeping Swayman happy and playing strong for the long run would be a home run. His numbers have been consistently strong ever since he joined the NHL. That said, goalies can be tricky to predict long-term. Sergei Bobrovsky winning the Stanley Cup certainly helped justify his $10-million cap hit because he would have otherwise been a prime example of paying big for a goaltender and having to deal at times with concerning inconsistency. 

The Red Wings currently have more than $17.6 million in cap space, but GM Steve Yzerman has two prominent RFAs in 23-year-old Seider and 22-year-old Lucas Raymond. 

Seider can point to contracts, such as Sabres youngster Owen Power’s $8.35 million per season contract and Minnesota’s Brock Faber's $8.5-million-per-season deal as a comparable for him, and the Wings would still be getting a relative bargain for what Seider brings to the table. 

Risk and reward: A Calder Trophy, followed by back-to-back seasons of more than 40 points, is quite promising for the Red Wings. Seider is their current No. 1 defenseman and should be for a long time, so having a lengthy deal is a big reward in itself. It's probably not worth it for Detroit to overthink, although having a career-high 50 points in his rookie season and not beating it yet may have them trying to figure out if they've seen enough for the big money that comes with a long term.

With 31 goals and 72 points last season, Raymond led Detroit in scoring, and it’s time for him to cash in on his talents. 

Raymond is just scratching the surface of what he’s capable of, but if Yzerman acts quickly and gives him a payday of at least $7 million or $8 million, the team and the player will be pleased. 

A long-term contract could be a massive bump in the short term but look excellent as the cap ceiling rises in the next few years. Either way, Raymond is a core component for Detroit, which will be reflected in his new deal.

Risk and reward: Raymond tried his mightiest to keep the Red Wings going when Dylan Larkin was out with injury, which shows a lot about his ability to drive play and be a needle-mover for Detroit down the line. His slight step back in his sophomore season from his rookie year before the breakout 72-point campaign in his third year could make his production a little tougher to extrapolate, but he should continue to improve even more.

Jonathan Tovell contributed to this RFA watch.

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