Inside the NHL’s Biggest Contract Surprises of 2025: Who’s Winning and Losing Big Bucks?
1. Tampa Bay Lightning
Last season: 13th
There’s a new No. 1 atop the contract efficiency rankings and it’s a potentially surprising one given where the Lightning stood last year. Perhaps I’m too high on them now or was too low on them a year ago. Either way, it’s worth looking at what’s changed since to drive the Lightning to the top spot.
First and foremost is the electric pairing of Brandon Hagel and Anthony Cirelli. As president of the Hagel fan club, even I would never have expected the leap he took last season into stardom, scoring 90 points. Cirelli’s own leap was also a big deal for the Lightning, giving the team two high-powered lines. Both players saw their market value shoot up $3 million per year relative to last season, a huge jump that obviously added a lot of surplus value given how much term both players have left. Combined, the duo’s unexpected ascent added $40 million to Tampa Bay’s bottom line.
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