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The Tampa Bay Lightning were eliminated in the first round of the 2025 Stanley Cup Playoffs. It was a disappointing exit for a Lightning team with Stanley Cup ambitions. It's even more disappointing considering they didn't give the Florida Panthers much of a fight. Entering NHL Free Agency, Tampa had to pick up the pieces and find the right depth signings for the season ahead.
Tampa did not have any of its key pieces hitting the open market. There was no repeat of the Steven Stamkos saga from last summer. For the most part, it was a pretty straightforward offseason for the Lightning. An offseason that could continue if they elect to make a last-minute trade or two before the season begins.
For now, it's time to take a look at the work they did in NHL Free Agency. Did they bring in players who give them quality ice time down the lineup? It's time for the Lightning to receive their grades for 2025 NHL Free Agency.
Pontus Holmberg is an intriguing addition
The Lightning began their NHL Free Agency work with the signing of Pontus Holmberg. Holmberg, 26, spent the first three seasons of his career with the Toronto Maple Leafs. He occupied a bottom-six role for the Leafs, and received his highest time on ice average of his career during the 2024-25 season.
Holmberg's offensive impacts aren't the greatest. The 26-year-old can chip in here and there. He did record a career high 19 points this past season across 68 games. However, he is likely going to offer tertiary offense at best in Tampa Bay.
Where he shines, though, is defense. He is not an elite defender by any means. But he is a good defensive presence in the bottom-six. He especially brings a good effort when defending at 5v5. His penalty kill numbers aren't strong, but he could do a job on the second unit if need be.
Overall, this is a fair shot for the Lightning to take. He is entering his prime, and Tampa has a good support system. Maybe they can unlock something more to his game. If not, Holmberg solidifies their defensive depth among the forward group.
GRADE: B
Lightning make bet on Jakob Pelletier
Perhaps the most intriguing signing for the Lightning is Jakob Pelletier. Pelletier was traded by the Calgary Flames during the 2024-25 NHL season. He went to the Philadelphia Flyers in the Morgan Frost-Joel Farabee trade. And it was a tale of two halves for the former first-round pick in Philadelphia.
Under John Tortorella, Pelletier did not receive much of a chance. He was placed on the fourth line most of the time. And he had two points in 15 games during that span. However, once Brad Shaw took over, Pelletier played higher in the lineup. He showed promise, scoring six points in his final 10 games.
The Lightning gave Pelletier a three-year contract in 2025 NHL Free Agency. The cap hit certainly isn't anything special. Tampa's newest forward is making less than $800K, in fact. Still, the three-year term is an investment on Pelletier's immediate future. It's a low-risk gamble for them to take.
GRADE: B-
Gage Goncalves receives extension
Finally, the Lightning kept one of their own draft picks around. Gage Goncalves was originally not offered a qualifying offer by the Lightning. However, the two sides were able to come together on a two-year contract in NHL Free Agency.
Goncalves played his first full season in the NHL this past year. And it was an alright performance from the 24-year-old. He scored eight goals and 20 points in 60 games. Nothing eye-popping, but 20 points is a nice foundation to built upon.
Off the puck, he has shown flashes of a complete player. He showed quality in the defensive end of the ice last season. And his physicality was on display. He finished eighth on the Lightning, throwing 71 hits during the 2024-25 campaign.
This is a good move for Tampa Bay. They keep a player around that knows their system. And they still have another year of team control before he reaches unrestricted free agency. It's a solid signing.
GRADE: B
Overall grades and final thoughts
The Lightning receive a good grade for the work they did in 2025 NHL Free Agency. Tampa Bay did not have the cap space to go big name hunting. And quite honestly, they didn't exactly need to go after the big fish. The Lightning have the star power. They need the depth signings to compliment their main stars. This year, the Lightning did what they needed to do in NHL Free Agency, even if none of their signings will become superstar talents.
Tampa Bay Lightning free agency grade: B
