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The NHL News cycle is heating up at exactly the right time.
With training camps beginning around the league, the Ottawa Senators have made a massive commitment to Drake Batherson, the Winnipeg Jets are still dealing with the uncomfortable Connor Hellebuyck trade situation, and the Minnesota Wild have taken care of some significant business behind the bench.
But Ottawa owns the biggest confirmed transaction of the day.
Drake Batherson has signed an eight-year, $86 million contract extension with the Senators carrying a $10.75 million average annual value. The extension begins after his current contract expires and keeps him in Ottawa through the 2034-35 season. Batherson is coming off a career-best 33 goals and 71 points in 79 games.
The timing matters almost as much as the dollar figure. Ottawa completed the contract before new CBA rules take effect that reduce the maximum extension available to a team’s own player from eight seasons to seven. An earlier report that the two sides were closing in on the agreement therefore proved accurate — and the Senators managed to get their business finished before the deadline.
NHL News: Ottawa Locks Up Batherson While Hellebuyck’s Future Dominates Training Camp
Batherson’s contract is enormous, but it also illustrates just how dramatically NHL economics are changing.
His current contract carries a $4.975 million cap hit. The new deal jumps to $10.75 million beginning in 2027-28, an increase of $5.775 million per season, or approximately 116 percent. Ottawa is essentially betting that Batherson’s latest offensive jump is not his ceiling but the beginning of his prime production window. His current contract remains in effect for 2026-27.
From my perspective, that’s the real story behind the number. An $86 million commitment to a winger would have looked startling only a few years ago. Ottawa is paying against the NHL economy it expects to exist over the life of the contract rather than the one fans became accustomed to under a flatter cap.
Ottawa Senators Salary-Cap Snapshot
Drake Batherson: Senators Cap Impact
NHLTradeRumor.com Salary-Cap Calculation
Batherson’s new extension begins in 2027-28. His existing $4.975 million cap hit remains in place for the 2026-27 season.
Connor Hellebuyck Trade Rumors Refuse to Go Away
While Ottawa now has certainty, Winnipeg has anything but.
Connor Hellebuyck remains a Jet despite publicly requesting a trade during the offseason. NHL.com lists the Carolina Hurricanes, Buffalo Sabres, Utah Mammoth and New Jersey Devils among teams that have been connected to the three-time Vezina Trophy winner in media reports. He still has significant term remaining on the seven-year, $59.5 million contract he signed in 2023, carrying an $8.5 million AAV.
The difficult part for Winnipeg is that making a player available and receiving fair value are two very different things.
Darren Dreger reported that the trade offers Winnipeg had been receiving were “terrible,” while indicating teams interested in Hellebuyck appear to be looking for a discounted acquisition price.
That makes patience the logical play for Jets general manager Kevin Cheveldayoff.
My read is that Winnipeg cannot allow Hellebuyck’s trade request to dictate the return. Goaltenders are already difficult assets to value, and once rival general managers believe a team has to move a player, negotiations can quickly become lopsided.
NHLTradeRumor.com Hellebuyck Trade Value Index
Based on current performance pedigree, contract, positional value, age and Winnipeg’s negotiating leverage, my editorial model currently grades Hellebuyck at 83.5/100.
Connor Hellebuyck Trade Value Index
Proprietary assessment of Hellebuyck’s current NHL trade-market value
Elite Asset — Complicated Market
Hellebuyck remains one of hockey’s most valuable goaltenders. His performance, Vezina pedigree and ability to change a playoff series keep his underlying value extremely high. The biggest drag on the index isn’t the player — it’s Winnipeg’s current negotiating leverage after his trade request became public.
Hellebuyck’s 83.5 score reflects an unusual trade-market disconnect: his value as a player remains elite, but Winnipeg’s leverage has weakened because interested teams know he has requested a move. Unless the Jets receive legitimate franchise-changing value, holding him may still be more valuable than selling low.
The important distinction is that Hellebuyck’s value as a player remains extremely high while Winnipeg’s negotiating leverage is weaker than his hockey value suggests. That’s why a blockbuster has been so difficult to complete.
Minnesota Wild Reward John Hynes
Minnesota also made news Tuesday by signing head coach John Hynes to a multi-year contract extension.
The move is hardly surprising. Minnesota has gone 125-78-24 in 227 games under Hynes, and last season the Wild finished with 104 points before winning their first playoff series in 11 years. Minnesota also produced a franchise-record 25.2 percent power play.
For a Wild team already dealing with questions surrounding Quinn Hughes‘ next contract, eliminating uncertainty behind the bench makes sense.
Elsewhere, roster movement is beginning as organizations transition from prospect tournaments to main camps. Buffalo returned David Bedkowski, Samuel Meloche, Doman Szongoth and Dylan Dumont to their junior clubs Tuesday.
There is also still contract intrigue around Cutter Gauthier and Adam Fantilli. They were identified Tuesday morning as two of the largest unresolved contract situations with the CBA deadline approaching.
That makes September 15 much more than a routine late-summer news day. The Batherson signing shows teams are already reacting to the NHL’s changing contract environment, while Hellebuyck’s situation could reshape the goalie market if Winnipeg finally receives an offer it considers acceptable.
And once players actually step onto the ice for training camp, the pressure only increases.
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