2025 NHL Draft Logo (Photo by NHL PR)
A much smaller contingent of league and team staff, agents, and media has descended on Los Angeles for the decentralized 2025 NHL Entry Draft, but the feeling around the league is that the event is about to kick off a chaotic stretch in the NHL trade and free agent markets.
“My mentor in St. Louis was a guy named Ron Caron, and he used to always say, ‘This time of year, the meat is on the burner,’ meaning there is so much going on with the trade and free agent markets,” NHL player agent Matt Keator said to RG when asked if he expects a busier-than-usual draft weekend and free agency period starting July 1.
“Teams have to figure out whether or not they’re going to re-sign their current players,” Keator continued. “Are they going to trade for players and give up assets? Are they going the free agent route and not giving up assets, but maybe more money and cap space? The existing players on your roster just cost you money, but when you do trade, it can cost you both a player and money. So I think everyone’s been going through the process now of assessing where they’re at, and now we’re going to see the results of that—and things will go where they go.”
More Picks, More Pressure
NHL teams and agents are ready not only for the draft but for a busy trade and free agent period that could stretch into mid-July. In a draft where many expect top-10 picks to be moved, there’s also growing anticipation of an unusually high volume of player movement leading into and beyond July 1.
“I’m busy but doing a whole lot of nothing. Like I’m spinning like a hamster in a wheel right now!” an NHL executive joked to RG on Tuesday.
“But yeah, this could extend longer this year. I think this can keep going until at least July 10. Usually, we all get to go home by July 4 or 5, right? I know teams have pushed their development camps ahead with that in mind, but I think we’re all going to be busy until like July 10.
“As for the picks flying around, I just think yes, there are teams with more money to spend now and they’re looking at this like: ‘This pick likely isn’t getting me to the playoffs or past the first round, so if I trade it for this NHL player, does that get me to the next step?’ So, yes, it’s going to be interesting for sure.”
Since June 12 and Game 4 of the Stanley Cup Final, there have been seven NHL trades. Star players like Chris Kreider, Trevor Zegras, Evander Kane and JJ Peterka have already been moved.
“Then you also have teams that need to get to the cap floor, too, so it’s way more about NHL bodies than futures right now … unless you’re getting 2026 first-rounders!”
If you want to learn more about what it’s like to be an agent, check out our article on how agents spend their days leading up to the NHL trade deadline.
James Murphy
With 24 years of experience (SiriusXM NHL Network Radio, ESPN Boston, NESN, NHL.com, etc.) covering the Bruins, the NHL, NCAA and junior hockey, and more, Jimmy Murphy’s hockey black book is filled with Hall of Famers, current players, coaches, management, scouts and a wide array of hockey media personalities that have lived in and around this great game. For 22 of his 24 years as a hockey and sports reporter, Murphy covered the Bruins on a daily basis, including their victorious 2011 Stanley Cup run and their runs to the 2013 and 2019 Finals. Murphy is currently a co-host, along with Pierre McGuire, on The Eye Test Podcast.
