The NHL Draft is in the books, and we are four days removed from the opening of NHL free agency. Every significant unrestricted free agent is off the board, leaving the trade market as the only option for teams looking to meaningfully improve before the start of the 2025-26 season.
The Anaheim Ducks are among those teams, as their stated goal is to make the playoffs in 2025-26 and end the NHL’s third-longest playoff drought.
Ducks general manager Pat Verbeek had been busy between the end of the regular season and the opening of free agency. He replaced Greg Cronin with Joel Quenneville behind the bench, acquired Chris Kreider from the New York Rangers, traded Trevor Zegras to the Philadelphia Flyers, and traded John Gibson to the Detroit Red Wings.
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Between the end of the draft on June 28 and the opening of free agency on July 1, most of the free agent class had been signed to new contracts, leaving a slim inventory for GMs to choose from.
Heading into the offseason, the Ducks had $38.69 million in cap space (the third-most in the NHL), a mandate to make the playoffs, and the green light to spend as much as it took to achieve that goal.
Around the NHL, two of the most common needs were top-nine centers and goaltenders. With the benefit of hindsight (foresight for most) and the ability to see how the free agent and trade markets have played out to date, it’s more than fair to question Verbeek’s timing and leveraging when it comes to some of the biggest moves and lack of moves he’s made this offseason.
The Trevor Zegras Trade
On June 23, the Ducks traded Zegras to the Flyers in exchange for depth center Ryan Poehling, a second-round pick, and a fourth-round pick.
Trevor Zegras’ name had been featured in every media outlet’s list of potential trade candidates for a year and a half, since Jamie Drysdale was traded in Jan. 2024, with varying reported degrees of actual interest expressed by Verbeek to move on from the talented forward.
Zegras followed up back-to-back 60-plus point seasons to start his NHL career with three major injuries, a difficult contract negotiation, and two seasons of less-than-stellar point-per-game totals, leaving Zegras’ value at its lowest point.
It’s become abundantly clear that Zegras was never in Verbeek’s long-term plans for the Ducks organization. If the goal was to maximize potential value in a return, allowing Zegras to play under a coach like Joel Quenneville for a few months, who had previous success with players of a similar mold (Patrick Kane and Jonathan Huberdeau, specifically), could have fetched Anaheim an impact player at a position of need as part of a hockey trade or a considerable haul of future assets.
If the intention was to remove Zegras from the roster at some point during the summer, simply waiting eight days would have considerably boosted his return, as most marquee free agent centers, such as Sam Bennett, John Tavares, and Brock Nelson, re-signed with their clubs before free agency opened. There wasn’t enough supply to satisfy the market’s demand.
The Flyers, Red Wings, Montreal Canadiens, Nashville Predators, and Minnesota Wild had either been confirmed or rumored to have been in the market for an upgrade down the middle.
Verbeek seemingly failed to leverage the market and create a bidding war. Instead, he accepted an underwhelming return for a player with proven production at the highest level.
The John Gibson Trade
On day two of the NHL Draft, June 28, the Ducks traded goaltender John Gibson to the Red Wings in exchange for goaltender Petr Mrazek, a second-round pick, and a fourth-round pick.
Similarly, but possibly to an even greater extent, Gibson’s name had been in trade rumors, speculations, and discussions for the past several offseasons. There had been confirmation that Gibson desired to play elsewhere, and the Ducks were on the lookout for a deal that made sense for both parties.
The aspects preventing a prior trade of the talented 31-year-old goaltender were five consecutive seasons with poor numbers from 2019 to 2024, a contract that carried a cap hit of $6.4 million, an unwillingness from the Ducks to retain on that cap hit, and uncertainty in regards to Gibson’s health.
The 2025 offseason seemed to paint Gibson in a different light. The salary cap ceiling was set to increase drastically for the first time in five years, his numbers returned to respectability, and the supply of goaltenders available was incredibly thin.
The Flyers, Red Wings, Columbus Blue Jackets, Carolina Hurricanes, and Edmonton Oilers were all rumored or reported at one point or another to have been in the market for an upgrade in net.
After years of holding out for a considerable return, drawing a hard line in the sand, and just when Gibson’s value had increased, Verbeek pulled the trigger on a trade, probably a week too soon (again), and accepted an underwhelming return.
Free Agency
On the first day of free agency, Verbeek made a splash, filling a need and acquiring one of the top names on the market when he inked versatile forward Mikael Granlund to a three-year contract that carries an AAV of $7 million. Not a bad way to kick off the NHL free agency period.
However, after day one, the Ducks still could have used an impact forward at the top of the lineup, and the only one remaining on the free agent market was Nikolaj Ehlers, a player whose speed, skill, and tenacity would have nicely complemented the young talent in the Ducks’ top-six.
On July 3, Ehlers inked a six-year contract with the Carolina Hurricanes that carries an AAV of $8.5 million. It’s a hefty price for a player with a checkered injury history, but his production rates are through the roof for a player who never got considerable ice time at the top of the Winnipeg Jets lineup.
Following the San Jose Sharks acquisitions of Dmitry Orlov and Nick Leddy on Thursday morning, the Ducks had the most available cap space in the NHL by the time Ehlers signed his contract. The Ducks were reportedly interested in Ehlers, but it’s unclear if they made a competitive offer.
If the goal for the organization is to make the playoffs in 2025-26, there’s one impact player on the market, and the organization has the most cap space in the league, this seemed like the perfect time and the perfect player to “overpay” for to improve the roster. Especially after Verbeek’s history of seemingly overpaying players like Radko Gudas and Alex Killorn enough to get them to join Anaheim.
Looking Ahead
The only remaining avenues available to Verbeek when it comes to improving the Ducks roster before the start of the 2025-26 season are through the rare utilization of offer sheets and through trade.
Offer sheets have the potential to become very expensive very quickly, and to land one of the available impact players, teams would have to part with at least one unprotected first-round pick. The player receiving the offer sheet would also have to sign the potential contract, never a certain endeavor.
There are players potentially available on the trade market like Rasmus Andersson, Marco Rossi, and Jason Robertson, but Verbeek has yet to acquire an NHL talent in or approaching their primes who would fit the core of the team when they’re competitive in his three-plus years as the GM of the Ducks.
To this point in the offseason, it’s questionable if the Ducks roster is better than the one that ended the 2024-25 season. If it is, the improvement is marginal and unlikely to add the necessary 15 points in the standings to make the playoffs in 2025-26.
The Ducks currently have a projected $28.99 million in cap space and the potential remains for further moves to be made, but history hasn’t hinted that Verbeek has the capability to thoroughly assess the markets and pull the trigger on a move that can elevate the roster enough to achieve the stated mandate of playing hockey past mid-April.
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