Islanders Close To Salary Cap Ceiling, Five Teams Who Can Take On Contracts

The New York Islanders are running very close to the NHL's $88 million salary cap.

The team has only $900,000 in available cap space, but once restricted free agent Simon Holmstrom signs his $874,125 qualifying offer, their space trickles down to just $25,875.

The deadline for RFAs to sign their qualifying offer is 5 PM ET on July 15 (today).

It would be shocking for general manager Lou Lamoriello to give himself no financial leeway heading into the 2024-25 season.

It would also be shocking to see him now field a 23-man roster, with their cap space currently holding them to only 22.

With the Islanders looking for flexibility, a trade seems to be in the cards at some point.

Most teams have made their moves already, as we are officially two weeks into NHL free agency.

If the Islanders are going to make a trade to dump a contract or two, which teams can take on the cap, whether it's a standard trade or a third team retaining salary?

All cap dollar amounts are courtesy of Puckpedia.com .

Anaheim Ducks

The team with the most cap space in the NHL right now is the Anaheim Ducks.

The club has a league-high $22.64 million in cap space as they sit deep in a rebuild.

While Robby Fabbri will certainly help their forward group, adding another experienced skater could bode well for their young core.

Names like Anders Lee ($7 M AAV), Jean-Gabriel Pageau ($5 M AAV), and Casey Cizikas ($2.5 M AAV), who each have over 700 regular-season games under their belts, can help their forward group, which is headlined by Trevor Zegras, Leo Carlsson, and Troy Terry, among others.

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While the Islanders are less likely to move a defenseman, say Ryan Pulock ($6.15 M AAV) or Adam Pelech ($5.75 M AAV), they can certainly solidify the top two pairs on defense, which currently contains Cam Fowler, Radko Gudas, and newcomer Brian Dumoulin.

Anaheim lacks experience, so adding a longtime NHL veteran could bring the team closer to the cap ceiling while providing leadership to a young roster.

San Jose Sharks

A couple hours north, the San Jose Sharks are also looking for results after a strong showing at the NHL Draft.

With Macklin Celebrini and Will Smith joining the big club, the team has made steps to help their youth take the next step.

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Tyler Toffoli, Alex Wennberg, and Mikael Granlund, along with youth names Fabian Zetterlund and William Eklund, will join them at forward.

The Sharks also addressed their defense by picking up names with ample experience.

Veteran Marc-Edouard Vlasic will remain on the roster with two years left on his deal, with Jan Ruutta, Jake Walman, and Matt Benning joining the fold. With Ty Emberson and Henry Thrun looking to make the leap, the prior options will certainly play a role in their development, meaning an Islander deal is unlikely.

However, to aid their forward group, the Islanders can certainly pitch, but the Sharks could be more of a situation where San Jose is the third team in a deal.

Columbus Blue Jackets

Although they are division rivals, the Columbus Blue Jackets have the third most cap space in hockey, at $14.55 million.

With the team starting a new era under general manager Don Waddell, they made some big moves, with the Sean Monahan and Dylan Gambrell forward signings.

While their defense currently lacks a final right-handed option, David Jiricek is a name that could make the jump to the NHL.

However, the team will need youngsters to make the jump to forward.

With names like Adam Fantilli, Kent Johnson, and Dmitri Voronkov as the main candidates for this group, adding a Pageau or Lee for a veteran presence could be a good move for their development.

While a trade for a defenseman is less likely, given their cap situation, a forward trade could be in the cards, even if it does go within the division.

Patrick Laine is a player who asked for a fresh start, but because of his substantial cap hit of $8.7 million through 2025-26 and when he'll be available (currently in NHL's Player Assistance program), no team has made a move for him.

Related: The Islanders & Patrik Laine: Risky Business

Laine could be a great fit on Long Island, and a deal does make sense only if Columbus is willing to retain 50 percent ($4.35 M).

If the Islanders become a team that pursues Laine, they'd have to send a substantial contract back the other way to fit him in at 50 percent.

The Calgary Flames ($20.8 M in cap space) and Detroit Red Wings ($19.92 M in cap space) sit second and third in cap space, respectively, as those two are other candidates who could eat big contracts.

It's been rumored that the Flames are willing to take on contracts as their team is en route to a rebuild.

The Red Wings want to compete for a playoff spot, but it seemed like their plan was to make a big play for Steven Stamkos (who chose the Nashville Predators), which has left them with more space than likely planned.

Whether the Islanders are shipping out a big contract or a smaller one, all five partners mentioned above have the ability to help.

One would think that the Islanders believe Pageau has a positive value since he hasn't been dealt yet.

Cizikas definitely has positive trade value, while Lee's contract likely means the Islanders would need to attach a draft pick to entice another team, given the hefty hit in each of the next two seasons.

Personal opinion: With Pageau the Islanders' only right-handed centerman and his relationship with newly acquired forward Anthony Duclair , it would be more of a shock if he was dealt over Cizikas.

Also, unlike Pageau and Lee, Cizikas has no trade protection.

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