Schenn's arrival reshapes Islanders' future. Will new signings, extensions, and expiring deals leave cap space for a crucial summer addition?
With the 2026 NHL Trade Deadline behind us and the New York Islanders making three separate trades this season, it's time to investigate what the cap situation will look like next season.
The acquisitions of Ondrej Palat (signed at a $6 million cap hit through 2027) and Brayden Schenn (signed at a $6.5 million AAV through 2028) led to major questions about whether the Islanders and General Manager Mathieu Darche will have enough cap space to make a major add for a top-six scorer this summer.
Additionally, the Islanders and Darche inked Jean-Gabriel Pageau to a three-year extension at a $4.85 AAV cap hit, locking up Pageau at a smaller cap hit than his current day $5 million AAV.
As it stands, the Islanders have four upcoming unrestricted free agents (UFAs) and three pending restricted free agents (RFAs).
Anders Lee, Tony DeAngelo, Carson Soucy, and David Rittich are all due for new contracts or will hit the open market on July 1.
Adam Boqvist, Maxim Shabanov, and Marc Gatcomb will be RFAs on July 1 if tendered a qualifying offer.
Everyone else on the NHL roster is signed through the 2026-27 season. Including every player currently listed on long-term injured reserve (Alexander Romanov, Semyon Varlamov, Pierre Engvall, Kyle Palmieri), the Islanders' total cumulative cap hit for the 2026-27 season as it stands is $88,793,333 million AAV.
The projected salary cap ceiling is $104,000,000 million. That gives the Islanders $15,206,667 million in available space before any potential cap removals, such as Engvall ($3 million AAV) and Varlamov ($2.75 million AAV).
Shedding Jonathan Drouin's $4 million AAV was a massive win within the deal with the St. Louis Blues, as the only added cap hit for this year and next for Schenn is $2.5 million AAV.
Anders Lee could sign a team-friendly contract extension, likely to take out a chunk of space. Ditto that for DeAngelo, who was adamant last year that he only wanted to extend with the Islanders.
Rittich won't command a hefty raise, but could make an additional $1 million, bringing his AAV closer to $2 million, if the Islanders deem Varlamov unable to return next year as well.
It's unlikely Soucy gets extended, as he was brought in to be a bridge piece with Alexander Romanov out for the regular season with a shoulder injury.
As of today, Gatcomb is the only lineup regulars of the RFAs in the lineup. His current cap hit is $900,000, and a small pay bump is likely.
Shabanov hasn't received a ton of playing time, nor has Boqvist. The Islanders would likely retain both for depth purposes, but both would receive minimalistic cap hits.
So, that $15 million number is a bit raw, but it leaves a lot of opportunity for the Islanders to make a major add offensively.
The free agent market will be somewhat thin, potentially headlined by Alex Tuch on July 1.
If Jordan Kyrou is made available again this summer, the Islanders can and will have the ability to add him into the mix if they pursue him.
Similarly, if someone like Jason Robertson becomes available and the Islanders want to pursue him, they'll have the ability to do so.
Calum Ritchie and Matthew Schaefer are signed to their entry-level contracts through the 2027-28 season. The time to maximize and weaponize cap space is from now until then.
Darche and the Islanders are set up with a ton of flexibility now and later, with the emphasis clearly being saved for later, while still infusing this team with added talent and that needed playoff grit.