Mikhail Sergachev #98 hugs Karel Vejmelka #70 (Photo by Alex Goodlett/Getty Images)
When Mikhail Sergachev arrived in Utah last summer via trade, he brought more than just a Stanley Cup pedigree and top-pairing skill set to the Mammoth blue line. He also brought a candid voice—one that’s not afraid to challenge narratives or speak plainly about where the league is headed.
Now, with the NHL and NHLPA agreeing on a new collective bargaining agreement that will reshape league economics and player life through 2030, Sergachev sees reason for optimism.
“I’m really glad they reached this new deal,” Sergachev told RG. “Both sides did a good job. It’s great news for players and for the league.”
A Sweeping Agreement with Real Impacts
The deal, which extends the current CBA beyond its original expiration date of Sept. 15, 2026, introduces wide-ranging changes. Among them: the regular season will expand to 84 games per team, while preseason games are reduced to four (with veterans limited to a maximum of two). The maximum contract term has been shortened by one year—to seven for players re-signing with their own teams and six for unrestricted free agents.
There will also be tighter controls on playoff roster spending. Starting in 2026-27, postseason teams must be salary cap compliant, closing a loophole that previously allowed injured stars to return in the playoffs without affecting cap limits.
For players, however, some of the most noticeable changes will be in their daily routines and finances.
The end of the NHL’s long-standing game-day dress code—long considered a holdover from a more conservative era—stood out to Sergachev.
“I wouldn’t say I was tired of it, but I never found it very practical,” he said.
“On game days, you had to put on and take off your suit four times. Now we’ll have the freedom to choose what to wear. That’s a positive change.”
Escrow No More
One of the most significant shifts involves the elimination of escrow—a system that withheld a portion of players’ salaries to balance revenue shortfalls. With league revenues now more stable and predictable, escrow is being phased out. RG was the first to report on the elimination of escrow back in February.
“Of course, it’s a big deal when you’re losing anywhere from 3 to 15 percent of your salary,” Sergachev said. “I’m really glad it’s gone. It shows the league and the players are growing together and moving in the right direction.”
The new agreement retains a 50/50 revenue split but eliminates deferred salaries and caps signing bonuses at 60% of total contract value. The league’s salary cap will also rise sharply: $95.5 million next season, $104 million in 2026-27, and $113 million the following year.
The move to an 84-game regular season—the league’s first since the early 1990s—is seen by NHL executives as a way to boost gate revenue and create more divisional rivalries. Some veteran players have voiced concern, but Sergachev isn’t among them.
“Not really, because the number of preseason games will go down,” he explained. “As a veteran, I usually play only two preseason games anyway. I’d much rather have a couple more regular-season games than risk injuries in meaningless matchups. Plus, fans would rather see games that count.”
On Florida, McDavid, and Team Construction
Sergachev also weighed in on the 2025 Stanley Cup Final, where the Florida Panthers defeated the Edmonton Oilers in five games to secure back-to-back titles (read the interview with Panthers forward Sam Reinhart, where he shares his thoughts on winning a second straight championship).
“It was pretty clear to me how that series would go,” he said. “Florida had the right group and a very deep roster. Edmonton really depended on [Connor} McDavid and [Leon] Draisaitl. They were incredible, but you just couldn’t expect more from them.”
And with the salary cap growing, Sergachev anticipates teams will take different approaches—some conservative, others aggressive.
“Some teams will keep spending the same. Others—like Toronto, for example—might go all in and try to build a superteam. It’ll be interesting to watch.”
Defending the Russian Defensemen
Despite finishing the 2024-25 season tied for 12th in scoring among all NHL defensemen (53 points in 77 games), Sergachev did not receive a single Norris Trophy vote. Nor did any other Russian blueliner.
“Honestly, I don’t get it,” he said. “People often say Russia doesn’t produce good defensemen, but when you look at the stats, you’ll see a different picture. Russia has some very good defensemen, and I believe they’ll get the recognition they deserve in the future.”
Sergachev’s frustration isn’t new, but it’s increasingly difficult to ignore. As more Russian defensemen take on key roles in the NHL, recognition from voters may lag behind their on-ice contributions.
At 27, Sergachev remains in his prime and figures to be a central part of Utah’s future. But he’s also paying attention to the bigger picture—the economics, policies, and narratives that shape a player’s career beyond the rink.
And with a new CBA in place, Sergachev believes the NHL is finally catching up to its era.
“It’s a good agreement,” he said. “One that benefits the players, the fans, and the game.”
Sergey Demidov
