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It was a return to the playoffs for the St. Louis Blues after missing the playoffs two straight years. The Blues fell to the Winnipeg Jets in the first round in seven games.
Still, there is hope in St. Louis. They have just three pending free agents this offseason and will look to improve on their 2024-25 campaign. Here is a look at the nightmare scenario for the Blues in this 2025 NHL free-agency period.
The Blues made an amazing run to make the playoffs this season. Starting in mid-March, the Blues went on a 12-game winning streak to put them in the hunt for the playoffs. The Blues then defeated the Utah Hockey Club in their last game of the season to clinch a playoff spot. Still, the Blues need to make some moves to secure their future.
They have to first manage their salary cap. The Blues are projected to have between $9 million and $15.5 million in cap space, according to Cap Wages. They also have almost their entire core under contract this upcoming season. Still, there are a few different scenarios in which this offseason turns into a disaster in St. Louis.
Blues' Torey Krug attempts to play again
The biggest question as it pertains to the salary cap is the future of Torey Krug. The expectation is that Krug will retire from the Blues due to injury. Krug missed all of this past season after injuring his ankle at the end of the 2023-24 campaign.
He has been a solid player for the Blues, scoring 30 or more points in all four seasons. Still, injuries had been an issue for him, as he missed games in each season in St. Louis. Furthermore, Krug was on the decline.
After two straight years of positive plus/minus ratings, his rating fell to -26 in 2022-23 and then -31 the next year. His advanced metrics also showed a decline, specifically on the penalty kill and in giveaways when he had the puck. Krug will turn 35 during the season next year, and the Blues have already worked to replace him on the blue line.
The major issue if Krug attempts to come back is his salary cap number. Not only was Krug a declining player and aging, but he would cost $6.5 million towards the cap next year. This would take the Blues' cap space down to just $9 million.
Krug went on long-term IR last year, meaning the Blues could exceed the salary cap by his salary amount, and this is something they could open the season doing again if he remains on the long-term IR. Still, if he becomes healthy enough to play, the Blues will need to make a decision.
The first option is to play Krug and understand they have lost salary cap space. The second option is to buy out the contract of Krug. They would still take a cap hit of $2.5 million in the first year and another cap hit the next season. While Krug used to be a solid player, if he makes an attempt to return, it could hurt the future of the Blues.
Blues fail to agree to contact extensions
The Blues do not have a ton of draft capital this year. They have a first-round draft pick this year but do not have picks in the second, third, fourth, or seventh rounds this season. Still, they have a great core of players, including some young players who have performed well.
Dylan Holloway and Zack Bolduc both have been solid forwards and are both under the age of 24. Meanwhile, Philip Broberg is just 23 and solid on the blue line. All three of them are under contract this season, but all three become restricted free agents next year.
Currently, the Blues are projected to have just under $50 million in cap space in the 2026 offseason. Some of that will be taken up this offseason by signing free agents to multiple-year deals. Still, they currently have just nine players under contract for the 2026-27 season. While that does not affect a run this year, their future could be decided on moves made this season.
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Holloway scored 26 goals and had 37 assists this past season, and is projected to need $6.6 million for his next contract. Still, he outperformed Pavel Buchnevich, and another season doing so could bring his cost up over $8 million.
Bolduc had 19 goals and 17 assists last year, and is currently projected towards a $3 million contract, but if he continues that trajectory, he would compare to Jake Neighbours, which would command more than $4 million.
Finally, Broberg is also coming off the best season of his career. He projects to need over $6.7 million for a long-term deal, but another year like he just had would make him the top blueliner on the team, bringing in closer to $8 million.
While there is a risk signing guys coming off their best season, if the Blues fail to reach contract extensions with those three, they could be paying a lot more next offseason.
Blues make trades but do not replace production
There have been rumors about the Blues trading Brayden Schenn, and that may be difficult. Schenn currently has a no-trade clause, which will change to a modified no-trade clause on July 1. That would allow Schenn to submit a 15-team no-trade list.
The issue is not trading Schenn; the issue is replacing him. He was productive this year with 18 goals and 32 assists, playing mostly on the second line. He is due $6.5 million this year. In order to trade him, the Blues will most likely need to retain some of his salary.
Still, in the current free-agent market, there are not a lot of centers that would cost less and keep at the same level of production. A player such as Sam Bennett would be a nice fit but would cost more than the Blues could afford with the move of Schenn.
Furthermore, the Blues do not have the assets to grab a player like Marco Rossi. While moving on from the Schenn contract would be attractive, he was pivotal to their playoff run. Failing to replace him would damage their chances of making another run this year.
The Blues made a great run to the playoffs this past season and nearly defeated the Jets in the first round. This is a team built for future success.
Still, past mistakes in a contract could return to hamper their future with a player like Krug. They could compound those errors by failing to lock up their young core this year and making a panic move around the Schenn contract without a solid replacement.
