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The latest NHL News on September 12 has produced one of the busiest weekends of the offseason, with a major contract extension in Vegas, another dramatic turn in the Dylan Larkin trade saga and several intriguing trade situations developing just days before training camps open.
The Vegas Golden Knights locked up captain Mark Stone for two more seasons at a $9 million annual cap hit. In Detroit, Dylan Larkin will report to Red Wings training camp, ending speculation about a potential holdout, but he will no longer wear the captain’s “C” while his trade request remains unresolved. Meanwhile, goaltender Connor Ingram has retired at just 29 years old, and veteran defenseman John Klingberg has also called time on his NHL career.
Then there is the trade market. Kirill Marchenko remains one of the most interesting names available, with Elliotte Friedman linking both the Montreal Canadiens and New York Islanders to the Columbus Blue Jackets winger. And the clock is getting increasingly interesting around Quinn Hughes and the Minnesota Wild.
Here is what matters, and what I believe could happen next.
NHL News Today: Mark Stone Stays in Vegas as Dylan Larkin’s Future Gets Murkier
Mark Stone signs two-year Golden Knights extension
The biggest actual transaction Saturday belongs to the Vegas Golden Knights.
Stone signed a two-year, $18 million extension carrying a $9 million average annual value, keeping the Golden Knights captain under contract through the 2028-29 season. He remains on his existing $9.5 million cap hit for 2026-27 before the new contract begins next season.
Stone is 34, so there is obvious age and injury risk here. But Vegas is betting on something that has repeatedly made Stone valuable beyond his raw scoring totals: his ability to drive play, defend, create turnovers and elevate skilled linemates.
He also produced 28 goals and 45 assists for 73 points in only 60 games last season, matching his career high in points despite missing significant time.
From my perspective, the number is more reasonable than it initially looks because the NHL salary cap is rapidly climbing. The 2026-27 ceiling is $104 million, while the announced 2027-28 ceiling rises to $113.5 million.
That dramatically changes the context of a $9 million salary.
🏒 NHLTradeRumor.com Salary Cap Calculator
That 7.93 percent number is the important one. Vegas is not paying Stone the equivalent of a modern $9 million superstar contract. Relative to the rising cap, the deal should occupy significantly less of its spending power.
Dylan Larkin will report, but he is no longer Detroit’s captain
The biggest NHL trade rumor situation remains Dylan Larkin.
Larkin confirmed he will attend Detroit’s training camp next week despite requesting a trade earlier in the offseason. The Red Wings simultaneously announced that they will begin the 2026-27 season without a captain. Larkin had worn the “C” since January 2021.
That also answers an important question hanging over Detroit for weeks: would Larkin actually report?
Yes.
“I will be at training camp with my teammates,” Larkin said in his statement.
What it does not resolve is the trade request.
Larkin carries an $8.7 million cap hit through 2030-31, and PuckPedia lists him with trade protection throughout the remaining contract. He scored 34 goals and 67 points in 74 games last season.
My read is that removing the captaincy makes reconciliation more difficult, not easier. Reporting to camp is the professional and practical move for Larkin. It does not mean his desire to leave Detroit has disappeared.
The difficult part for any acquiring team is now obvious: Detroit needs legitimate value for a first-line center, while Larkin’s trade protection gives him substantial influence over where he can go.
NHLTradeRumor.com Dylan Larkin Trade Value Index:
NHLTradeRumor.com Trade Value Index
Dylan Larkin — Detroit Red WingsKirill Marchenko trade rumors remain worth watching
Another name I would keep near the top of the NHL trade board is Kirill Marchenko.
Friedman recently identified both Montreal and the Islanders as teams that have been around the Marchenko situation. Columbus general manager Don Waddell has indicated he cannot simply remove a major offensive contributor without receiving something useful in return.
That stance makes sense.
Marchenko produced 27 goals and 67 points in 76 games last season after posting 31 goals and 74 points the year before. His cap hit is only $3.85 million for 2026-27, after which he is scheduled to become a restricted free agent.
That $3.85 million hit consumes only about 3.70 percent of the $104 million salary cap. That’s why I believe Columbus can afford to remain patient. This is not a distressed contract they need to dump.
Kirill Marchenko: Three-Year Scoring Trend
The Canadiens and Islanders should both be interested, but the bidding becomes uncomfortable if Columbus insists on an established NHL player rather than a package dominated by futures.
Connor Ingram and John Klingberg announce retirements
There were also two notable NHL retirements.
Goaltender Connor Ingram is retiring at age 29 after 134 NHL appearances. He spent last season with Edmonton and finished his NHL career with a 55-54-18 record, a 3.01 goals-against average and .901 save percentage. Sportsnet reported that his next goal is to return to school to study psychology.
Veteran defenseman John Klingberg is also retiring after 12 NHL seasons and exactly 700 regular-season games. Klingberg finishes with 92 goals, 351 assists and 443 points, having played for Dallas, Anaheim, Minnesota, Toronto, Edmonton and San Jose.
Klingberg’s offensive peak was impressive, but injuries eventually changed the trajectory of his career. At his best in Dallas, few defensemen were better at transitioning the puck and creating offense from the blue line.
Quinn Hughes contract clock is becoming impossible to ignore
One final situation deserves attention as training camps approach.
Quinn Hughes has made clear he does not feel pressured to sign an extension with Minnesota before camp. But there is an unusual contractual wrinkle: Hughes can sign an eight-year extension with the Wild through September 15. When the new CBA takes effect September 16, the maximum term for a player re-signing with his current club falls to seven years.
That does not mean Hughes has to sign now. It does, however, make the next few days far more meaningful than a normal September negotiation.
My expectation is that the Wild continue pushing aggressively for certainty. Letting a franchise defenseman get closer to unrestricted free agency rarely increases a team’s leverage.
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