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

Luckily for everyone, the contract landscape has shifted drastically over the last year, thanks to massive cap jumps over the next three years. That means a lot of older contracts immediately look better in a new context, leaving a majority of the league in good shape. In previous years, half the league was getting more value than expected. This year, with a lot of long-term legacy contracts still on the books, that’s shifted to two-thirds of the league getting a good deal on average. For the purpose of this exercise, any team above average gets a B-grade or higher, but grade on a curve and just getting equal value isn’t good enough anymore. And getting negative value can put a team way behind.

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