New York Islanders general manager Mathieu Darche began his first offseason on Long Island with around $14.63 million in available cap space.
Flash forward to now, with Darche signing 10 NHL contracts while moving on from three players, with one to two more players in need of deals.
The answer to how much salary cap space the Islanders currently have depends on how Darche constructs his NHL roster.
Per Puckpedia, the Islanders have $3.875 million in available cap space. However, their Islanders roster (23) has Semyon Varlamov on Injured Reserve, not Long-Term Injured Reserve, only six defensemen, and 14 forwards.
Restricted free agent forward Maxim Tsyplakov remains unsigned, with a deal expected to be agreed upon at an annual salary of under $3 million.
Where Things Stand Between Tsyplakov & Islanders
Tsyplakov filed for player-elected salary arbitration on July 7.
Here's some other questions that impac their cap situation.
Matthew Schaefer or Isaiah George: If Schaefer is going to make the Islanders out of training camp, that likely means that George will not be making the team. Schaefer will need to sign his three-year entry-level deal worth $975,000 annually. George has two more years left at $838,333 annually, so while not exact, we can call this a wash.
Semyon Varlamov or David Rittich: According to Darche, backup netminder Semyon Varlamov, 37, has had no setbacks in his rehab since undergoing season-ending knee surgery at the tail end of the 2024 portion of the season. We do not know, at this time, if he will be ready to go once the 2025-26 season begins. He has two seasons left at $2.75 million annually. As an insurance policy, the Islanders signed goaltender David Rittich to a one-year deal worth $1 million.
*If the Islanders have a player on LTIR, they are unable to accrue cap space.
The Calum Ritchie Decision: With Mathew Barzal heading back to center after a few seasons on Bo Horvat's wing, the Islanders are pretty strong down the middle with Jean-Gabriel Pageau and Casey Cizikas to round out center ice. However, if Calum Ritchie, who looked like a man amongst boys at development camp, forces the Islanders' hand, that will surely impact the club's salary cap space. Ritchie has all three years remaining on his ELC worth $918,333 annually, as he only played seven NHL games last season. If Ritchie is making the team, that will surely impact Kyle MacLean, who is currently the fifth center on the roster.
Options for Pierre Engvall: While it seemed that head coach Patrick Roy finally got through to Pierre Engvall in the second half of this past season, the Swedish forward is likely on the outside looking in. The Islanders could try to trade him, but he has five seasons remaining on his contract, worth $3 million annually, and a 16-team no-trade clause. The Islanders could send him to Bridgeport -- he would really help them -- burying $1.15 million of his $3 million in the minors, leaving his NHL cap hit at $1.85 million.
Exta Extra: Once Tsyplakov gets his contract, the Islanders will have a handful of players fighting for the final roster spots. Forwards Engvall, MacLean, and Marc Gatcomb will be fighting to be the two extra forwards, with Adam Boqvist, George, and Schaefer "fighting" for one starting spot on the blue line and the seventh defenseman job.
Here's our projected cap-compliant 23-man roster, which leaves the Islanders with $1.55 million in available cap space, assuming Varlamov is on LTIR, Tsyplakov signs a deal worth $2.5 million annually, and Schaefer inks his three-year ELC and makes the team:
Reminder that teams can go 10 percent over the salary cap in the summer, $9.55 million over, as long as they are salary cap compliant by the start of the NHL season.
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PHOTO: Steve Roberts-Imagn Images