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Inside the NHL’s Biggest Contract Surprises of 2025: Who’s Winning and Losing Big Bucks?

“We’re sort of of the opinion that if we aggregate that risk and have a lot of players who we’re comfortable making bets on — yeah, one or two of them something is going to go wrong,” Tulsky said. “But on the whole, we’re going to come out ahead by staying aggressive and putting ourselves in position to get things done, keep our core locked up and leave ourselves room to keep adding around them.”

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In a sense, it’s treating a team like a portfolio where buying early on upside doesn’t always pay off, but the odds are generally in your favor. Thanks to those four forward deals, Carolina’s portfolio looks great right now with an average positive value of 65 percent, one of the highest marks in the league. The team’s $99 million in expected surplus trails only Tampa Bay.

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