The Metropolitan Division playoff race ended in very close fashion as the New York Rangers, New York Islanders, and Columbus Blue Jackets all made viable pushes for a postseason berth before ultimately missing out on the action.
The upcoming 2025-26 season is shaping up to be a similarly competitive campaign with some splashy offseason improvements across the board. But with the high-flying Washington Capitals failing to make significant additions, to the Carolina Hurricanes landing big-name talent in free agency, the landscape is ever-changing. Which teams are moving up in the standings and which will be regressing?
Stock Up
New York Islanders
The Islanders being at the top of this list isn't out of bias; this is pretty objective. After winning the draft lottery and securing the first overall pick, first-year general manager Mathieu Darche delivered fans a picture-perfect draft. With Matthew Schaefer going first overall and providing the Islanders with a potential franchise defenseman, the Islanders proceeded to draft two other high-level prospects, with the picks they received from the Noah Dobson trade to Montreal, in Victor Eklund and Kashawn Aitcheson. Eklund is being regarded as an absolute steal, as he was projected to be drafted in the top ten of this year’s draft, with Kashawn Aitcheson being a bulldozer on the Islanders’ blue line when he enters the NHL.
During the free agency period, the Islanders improved their lineup by signing Jonathan Drouin to provide further depth on the top six and David Rittich to potentially replace Semyon Varlamov, and they signed the top European free agent, Maxim Shabanov, this year’s third leading scorer in the KHL.
To say that Darche has knocked it out of the park would be an understatement. In his first offseason with the Islanders, he managed to reconstruct a seemingly shallow prospect pool into a top-10-worthy prospect cabinet, he provided the Islanders with further depth on an offense that receives scrutiny for their lack of scoring, and he made decent signings to rebuild their AHL team, such as defenseman Ethan Bear.
The Islanders this year will be intriguing because they don’t exactly have any expectations. They have the players needed to at least compete, but if they fail, they have two first-round picks in the upcoming draft. The Islanders have a promising future and are positioned to improve if Darche builds upon the momentum he has constructed this offseason.
New York Rangers
The Blueshirts have had a very good offseason to complement their rivals across the pond. The Rangers began their offseason by trading away a franchise player in Chris Kreider to the Anaheim Ducks for a third-round pick and a prospect, as well as clearing up cap space. While trading away a franchise player should raise some eyebrows, general manager Chris Drury should receive some praise for his ruthlessness to improve his lineup.
The Rangers began the offseason by extending Jusso Parssinen, a center acquired in the Ryan Lindgren trade from the Colorado Avalanche, who will likely assume a role as the team’s third-line center. To reinforce their defense, the Rangers signed former LA King, Vladislav Gavrikov, to a 7-year contract with a $7 million AAV. Gavrikov has the potential to form a formidable pairing with franchise defenseman Adam Fox, which should provide some further defensive responsibility on the left-hand side.
To follow up their free-agent acquisition, the Rangers extended Will Cuylle, an accomplished rookie who has earned his place in the NHL, as well as traded K'Andre Miller to the Carolina Hurricanes for a bounty consisting of a first-round pick, a second-round pick, and a promising prospect in Scott Morrow.
After firing Peter Laviolette, the New York Rangers hired veteran and decorated Head Coach Mike Sullivan to give his roster the best field commander to guide them to a Stanley Cup. With Panarin’s contract concluding next season, the Rangers will be facing some fascinating decisions next year but will at least have an exciting opportunity to contend once again.
Carolina Hurricanes
The Hurricanes have had a fascinating offseason in which they have added more weaponry to Rod Brind’Amour’s arsenal. Carolina exceeded expectations this offseason by reaching the Eastern Conference Finals, where they are currently nursing a brutal defeat by the reigning Stanley Cup Champions, even after the Mikko Rantanen fiasco. Instead, the Hurricanes regrouped and made some interesting moves to prepare for this year’s upcoming crusade for Lord Stanley’s cup.
The Hurricanes began by extending Taylor Hall to a three-year deal during the Stanley Cup playoffs. The former Blackhawk has seemingly found a home in Carolina’s middle six and will play a role in mentoring up-and-coming players such as Jackson Blake and Logan Stankoven. The next piece of the puzzle was the extension of Eric Robinson, another player who has found success in Rod Brind’Amour’s system and will continue to earn his fourth-line minutes.
To add to their developmental system, the Hurricanes traded for Cayden Primeau from the Montreal Canadiens for a 2026 seventh-round pick. The Hurricanes proceeded to extend Logan Stankoven to an 8-year deal with a $6 million AAV. The playoff warrior was acquired in the second Mikko Rantanen trade, where Carolina also acquired two first-round picks. Stankoven, who was regarded as Dallas’ best prospect, played crucial minutes in Carolina’s middle six and thrived under Brind’Amour’s system, where he saw efficient usage and added responsibility.
The Hurricanes began the free agency fiesta with a division rival exchange where they acquired K'Andre Miller from the Rangers. While both the trade and extension seemed very expensive, the Hurricanes added a young left-handed defenseman to their blue line to replace Dimitri Orlov, who was recently signed by the San Jose Sharks. Carolina added another defenseman to their blue line through former Islander Mike Reilly and extended middle-six forward Jackson Blake to an 8-year deal. The contract can be seen as rather risky, as he only had one decent year, which doesn’t exactly scream consistency. The crown jewel of the Hurricanes’ offseason was the signing of forward Nikolaj Ehlers, who will assume the first-line left-wing role, centered by Sebastian Aho.
Carolina has certainly regrouped and is gearing up for its next attempt at the Stanley Cup. The Hurricanes have earned some stock in confidence from their fans, and the league as a whole, as general manager Eric Tulsky attempts to set Carolina up for a promising future of consistent contention.
To be determined
New Jersey Devils
The Devils are coming off a disappointing yet excusable season. After getting gentleman swept by the Carolina Hurricanes, the Devils can be given a mulligan for this past season after sustaining a parade of injuries that resulted in them playing without Jack Hughes and Dougie Hamilton during the first round of the playoffs. New Jersey has spent the offseason tinkering with their bottom six in order to shake off their scoring dependence on stars such as Timo Meier and Jesper Bratt.
The Devils began the offseason by extending Jake Allen to a five-year contract to provide Jacob Markstrom with a competent backup for the next few years. New Jersey began their free agency shopping spree by signing Connor Brown to a four-year deal, a journeyman that recently concluded his tenure with the Edmonton Oilers and found a new home in Newark. The two-time twenty-goal scorer will play a prominent bottom-six role to stabilize the Devils' third line, which is currently expected to be manned by Dawson Mercer and Arseny Gritsyuk.
The Devils proceeded to extend a one-year deal to former Islander Dennis Cholowski, who will likely take his place as the team’s seventh defenseman. To round out their bottom six, New Jersey proceeded to sign Evgeni Dadonov to a one-year, $1 million contract to play some crucial fourth-line minutes alongside Cody Glass, who will reassume his role as the fourth-line center after being extended to a two-year deal.
The Devils are placed in this category due to the uncertainty if they are capable of taking that next step, not to mention being capable of staying healthy. New Jersey has been placed on a pedestal the past couple of years as the heir to the throne of the metropolitan division but has been unable to compete in the playoffs, as they only have one playoff series win in the past three years. With the upcoming season on the horizon, this year’s performance will judge them as either competitors or pretenders, with former first overall pick Jack Hughes having to prove that people do indeed pay to see him play.
Pittsburgh Penguins
The Penguins were regarded as the only team that was open to selling this offseason. While still containing pieces needed to compete in Sidney Crosby, Evgeni Malkin, Bryan Rust, Rickard Rakell, Erik Karlsson, and Kris Letang, the Penguins are regarded as a team that is likely looking towards the future. Would the Penguins love to give Crosby one more chance at a Stanley Cup? Of course, but the roster composition of this edition of the Pittsburgh Penguins seems unlikely, to say the least.
The Penguins began the offseason by trading for Connor Clifton from the Buffalo Sabres, where they also received the 39th overall pick in the 2025 NHL draft, in exchange for Connor Timmins and Isaac Belliveau. Clifton will likely assume a second-pairing role on the right-handed side of the blue line, with his potential partner being Kris Letang. During the free agent extravaganza, the Penguins occupied themselves with filling some holes in their roster to stabilize their lineup. Pittsburgh signed Anthony Mantha to a one-year deal, who will likely assume a middle-six role, as well as Justin Brazeau, who seems poised to take his place on the Penguins’ fourth line.
The Penguins have seemingly concluded their offseason by making some pretty entertaining trades. Kyle Dubas has not shied away from weaponizing his cap space to accumulate draft picks for the future. A perfect example would be when he traded for Matt Dumba from the Dallas Stars, where he also received a 2028 second-round pick, in exchange for defenseman Vladislav Kolyachonok. Dumba, who was being shopped around by Dallas to liquidate some much-needed cap space, will play a veteran role on Pittsburgh’s right-hand side, where he could serve as a mentor for rookie defenseman Owen Pickering.
The next trade conducted by Dubas was acquiring this year’s AHL playoff MVP, Arthur Silovs, for Chase Stillman and a 2027 fourth-round pick. Silovs not only served as a star rookie netminder for the Abbotsford Canucks but also served as a competent goalie for the Vancouver Canucks during Thatcher Demko’s lengthy injury recovery. Silovs is an experienced and talented goalie that was also coveted by the Edmonton Oilers, a team that is thirsting for goaltending depth after this year’s devastating loss to the Florida Panthers. The young goalie could be groomed to assume a starting role for Pittsburgh in the near future pending Tristan Jarry’s tenure.
It might be strange to have the Penguins, a team who could be tanking for Gavin McKenna in this upcoming draft, in a category reserved for potential competitors. But that is not the purpose of this tier; it is reserved for teams that haven’t demonstrated enough this offseason to either lose or gain stock for the upcoming season. The Penguins have pieces that could carry this team to the playoffs if everything goes their way, especially with Sydney Crosby refusing to submit to Father Time. Only time will tell if this team is ready to assume the tank, but for now it is safe to assume that Kyle Dubas has accumulated the assets he desires for the future while also providing Crosby & Co. with some tools to make a last stand.
Stock Down
Columbus Blue Jackets
After coming up short in their quest to make the playoffs, after what can be considered a remarkable and inspiring year for the Blue Jackets, Columbus has followed up with a relatively lackluster offseason. With many analysts and experts believing that the Jackets were preparing to take the next step and make a splash this offseason, the Jackets had the same result that they had at the end of their playoff run—all the momentum but ultimately falling short.
The Blue Jackets were, in fact, involved in the Noah Dobson sweepstakes but were underswept by the Canadiens. The Jackets reportedly offered a similar package in which they even packaged forward Dimitri Vronokov, but Dobson vetoed the trade from being processed. This turn of events prompted general manager Don Waddell to extend left-handed defenseman Ivan Provorov to an 8-year deal that was controversial, to say the least. However, one promising extension they should be given credit for is Dante Fabbro’s, a defenseman picked up from waivers who had a monster season for the Jackets and seemingly found his new home on Columbus’ blueline.
During free agency, Waddell was relegated to only acquiring bottom-six forwards, for which he should be commended for filling some much-needed depth. The Jackets began this transformation by trading for forwards Miles Wood and Charlie Coyle from the Colorado Avalanche, in which they exchanged prospect Gavin Brindley, a 2025 third-round pick, and a 2027 second-round pick. While that trade raised some eyebrows for the amount of cap space the Jackets absorbed and its overall price, Columbus received two veteran pieces to round out their bottom six nevertheless. The Jackets completed their bottom-six restructuring with the signing of Isac Lundestrom, who seemingly fell out of favor in Anaheim and will assume a fourth-line center role in Columbus.
The Jackets have lost the most stock due to their lackluster offseason through their inability to build upon the momentum gained from last season. It isn’t to say that they should’ve signed a Mitch Marner, but Don Waddell did make some comments in which he stated that there would be some splashes made this offseason to shake up the roster through "Impact Moves". Similarly to Yzerman’s and Adams’ quotes from Detroit and Buffalo, Waddell ultimately failed to back up his statement and is now staring down the barrel of a potential 6-year playoff drought. While the Jackets’ rebuild is seemingly coming to a close, their stock remains at a cautious buy low due to their offseason shortcomings.
Philadelphia Flyers
The Flyers had a mediocre offseason in which they were very close to being listed as the number one team to lose stock in. What kept them out of that category was the highlight of their offseason, where they traded for Trevor Zegras from the Anaheim Ducks. The disgruntled forward is poised to claim a spot on their second line and will hopefully revitalize his career in Rick Tocchet's system. Besides the Zegras trade, the Flyers managed to put some bandaids over some of the glaring gaps in their roster.
Before the Zegras trade, the Flyers extended Tyson Foerster to a two-year deal, shortly after missing the playoffs for the 5th year in a row. Philadelphia extended their third-line center for the near future when they signed Noah Cates to a 4-year deal. The Flyers signed Dan Vladar during the free agency festivities, who will likely be their backup goalie for the next few years but also spells some uncertainty for Ivan Fedotov.
To reinforce their bottom pairing, the Flyers signed Noah Juulsen to a one-year deal. Philadelphia has been a team that has been heavily criticized for their center depth, which prompted them to sign Christian Dvorak to a 1-year deal, who will likely serve as their second-line center, hopefully a temporary solution for a long-term problem. The Flyers likely concluded their offseason proceedings when they extended their top left-handed defenseman and Travis Sanheim’s partner, Cam York, to a 5-year deal.
The Flyers are cautionary stock to observe as they continue to require retools and repairs but consistently fail to fix their long-term issues, such as their goaltending and their center depth. Philadelphia has promising forwards, especially on the wing, with Matvei Michkov and Travis Konecny, but they have a perpetual struggle in finding centers to lead them onto the ice, as they are currently projected to deploy Sean Couturier and Christian Dvorak in the top six.
Sam Ersson is a perfectly capable goalie, but he isn't the star netminder that can bail Philadelphia out of their structural inconsistencies and blunders. Rick Tocchet’s hiring is the highlight of Philadelphia’s offseason, and for a good reason, as they will likely lean on him to provide structure to a very turbulent lineup in a ruthless metropolitan division.
Washington Capitals
The Capitals went on quite the run this year and superseded expectations, to say the least. After falling short to the Carolina Hurricanes in the second round of the playoffs, the Capitals didn’t make many adjustments to a lineup that was tactically outclassed by Rod Brind’Amour.
Washington extended star defenseman Jakub Chychrun to a lucrative 8-year deal, signed prospect Ryan Leonard to his entry-level contract, and extended center Nic Dowd before the 2025 Stanley Cup Playoffs. Besides trading for Declan Chisholm and Justin Sourdif, who are both expected to play bottom-six roles, the Capitals were limited to what can be considered as tinkering moves. Washington extended left-handed defenseman Martin Feherevary to a very expensive deal that raised some eyebrows, to say the least. To round out their bottom six, the Capitals extended both Anthony Beauvillier, who they acquired at the trade deadline for a 2025 second-round pick, and Hendrix Lapierre, who will likely serve as this year’s third-line center for the Capitals.
This offseason has been very lackluster for the Capitals, in which they have failed to make the necessary pushes for top-of-the-line free agents to maximize their contention window, especially considering that Alexander Ovechkin isn't getting any younger. Washington currently has 4.125 million dollars in cap space remaining, which indicates that they could possibly make some moves at this year’s deadline if they are able to follow up last year’s regular season campaign with a similar performance this year. Nevertheless, the Capitals have lost stock this offseason due to the uncertainty surrounding their capacity to repeat last year’s stellar performance considering how the competition in the Metropolitan Division has only gotten stiffer.