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Since joining the NHL in the 2017-18 season, the Vegas Golden Knights have been a perennial contender. They have missed the playoffs just once while advancing to the Stanley Cup Final twice and winning the Cup once. This year, the Golden Knights were eliminated by the Edmonton Oilers in the second round of the playoffs. While the Golden Knights have had an amazing level of consistency, this is the nightmare scenario for the 2025 NHL Free Agency period that could derail that.
The Golden Knights are in a precarious situation this offseason. While they have been great in recent years, they have a tough salary cap situation. The Golden Knights are expected to have just $9.6 million in cap space this offseason, according to Cap Wages. They have five unrestricted free agents this offseason, with two restricted free agents. While one of the free agents is Ilya Samsonov, the goaltender, and they have Akira Schmid on the roster, the Golden Knights have other needs to fill.
Meanwhile, the Golden Knights lacked scoring depth in the playoffs. Many of the old depth pieces, such as Reilly Smith, are free agents. With holes to fill, no first-round pick in the NHL draft, and limited cap space, this offseason needs to be navigated with care.
The Golden Knights fail to add scoring depth
Vegas had six players score over 50 points this past season, with five of them being forwards. This was led by Jack Eichel, who scored 94 points this past season. Still, the five forwards consistently played on the top two lines for Vegas, with only Ivan Barbashev spending major time on the third line. Further, four of the five forwards missed time this past season. Pavel Dorofeyev was one of just three players on the Golden Knights this year to play in all 82 games.
Mark Stone was second on the team in points this past year, having 19 goals and 48 assists. Stone was also a major part of the playoff run, leading the team with four goals. Still, he played in just 66 games in the regular season and missed a playoff game. While that is missing 17 total games, that is an improvement for Stone. Since the 2021-22 season, he has played in 202 of the 328 possible regular-season games for Vegas. Beyond injuries, Vegas could be losing some solid depth pieces.
Smith is a free agent this year, and the winger has had a significant impact for the Golden Knights in his career. He joined the team in 2017 as part of a trade during the expansion draft. Smith was a major part of both teams that made the Stanley Cup Final as well. He would be traded away from Vegas in the 2023 offseason, but find his way back in March of 2025.
Smith provided a spark for this team and also showed the need for scoring depth. In the series with the Oilers, he scored twice, with both of those goals coming in the lone win for the Golden Knights in the series. Injury concerns and losing parts make bringing in new depth vital. Without bringing in new scoring depth, the Golden Knights could suffer the same fate they did this year.
Vegas does not lock up Pavel Dorofeyev
Dorofeyev was a major bright spot for the Golden Knights this year. He played all 82 games, which made him one of the few players to do that this season. He also broke onto the scene for the Golden Knights this year. In the 2023-24 season, he scored 13 goals and added 11 assists playing in 47 games. That was good for .51 points per game. He increased that production this year, scoring 35 goals and 17 assists, good for 52 total points. That was good for .63 points per game. Dorofeyev was first on the team in goals while also sitting fifth on the team in points.
Dorofeyev was also a major part of the power play this year for the Golden Knights. He scored 13 goals with four assists on the power play during the last campaign. His 13 power-play goals were good for second on the team this year. The 2019 draft pick by Vegas has consistently improved and is going to be a major part of the future for them. Still, he is a restricted free agent at the end of next season. The Golden Knights will also need to re-sign Jack Eichel in the next offseason as well.
Currently, Vegas can begin negotiations with Dorofeyev on July 1. He is projected to cost between $4.5 and $6.7 million AAV on the next contract. Considering the Golden Knights have cap concerns this year, and the only major contract coming off the books next offseason is that of Eichel, the Golden Knights need to act now. If they wait another year, the price may go up, and then Vegas may have to decide between the two forwards instead of bringing them both back.
Nic Hague does not return
Nic Hague is a restricted free agent this offseason, and there is interest from other teams in trading for Hague. First, he brings defensive flexibility to the Golden Knights. He can play both the left and right sides of the defense, something that is needed. A major reason for that is availability. Nine different players played defense for the Golden Knights this year, and only three of them played in 72 or more games. Hague was fifth among defenders in games played and sixth in ice time this year.
Further, Hague is one of the younger defenders who played this year. Alex Pieterangelo will turn 36 this year, while Brayden McNabb will turn 35, and Shea Theodore will turn 30. Hague will turn just 27, so he keeps youth in the defensive rotation. Further, he saw an increase in takeaways, shots blocked, and offensive production this past year. Hauge is expected to cost just over $2 million in AAV for his next contract. While the salary cap is tight, the Golden Knights would be better served finding a way to save money elsewhere, rather than losing a solid defender who is needed for their rotation.
The Golden Knights have continued to be a consistent franchise, but the moves they make this offseason will determine their future. They need to find scoring depth if they want to progress in the playoffs. If they want to continue to be a playoff contender every year, they need to take care of their future with Dorofeyev and Hague now as well.
