The Five Best NHL Teams On Paper After The Start Of Free Agency
We're in the early days of the NHL's 2026 off-season, with a slew of moves changing the landscape of the league. Although trades and free agency have made their mark on just about every team in the league, there's still a familiar hierarchy at the very top of the NHL's pecking order.
As you'll see below, the best teams in the league on paper this off-season are extremely accomplished and very hungry to impose their will in 2026-27 and win a Stanley Cup championship.
Which teams are the best five teams in the league on paper? In reverse order, this is this writer's opinion of the cream of the crop in hockey's top league:
The Five Worst NHL Teams On Paper After The Start To Free Agency
The NHL's 2026 off-season started with a bang, but there are still teams severely lacking in talent and overall depth. Which five teams look like they could be in the league basement?
3. Tampa Bay Lightning
The Tampa Bay Lightning finished tied for fifth in the NHL standings this past season, but they couldn't get past the Canadiens in the first round of this year's Stanley Cup playoffs. Tampa Bay GM Julien BriseBois made significant moves to improve his lineup so that it won't happen again.
Out the door went veteran defenseman Darren Raddysh in a trade with the Toronto Maple Leafs, but in the door came star free-agent defender John Carlson.
While veteran winger Corey Perry left via free agency to return to the Los Angeles Kings and rugged center Nick Paul was traded to the Leafs, BriseBois signed secondary scorer Ilya Mikheyev, then acquired a solid young goalie when he traded with Toronto for netminder Dennis Hildeby.
All in all, Tampa Bay's roster is notably improved. If Hildeby can come in and give star goalie Andrei Vasilevskiy some more rest, the Lightning will be in a better place when the 2027 post-season arrives.
But you can't deny how strong, balanced and experienced the Bolts are. BriseBois is giving his group another great chance at a championship, and Tampa will be at or near the top of the NHL standings this coming season.
2. Colorado Avalanche
First things first – the Colorado Avalanche organization has taken a hit on the ice and off it this off-season. They lost GM Chris MacFarland to the Nashville Predators. Then, they traded winger Valeri Nichushkin to the Columbus Blue Jackets. Then, they traded forwards Jack Drury and Ross Colton to the Preds in separate trades.
There's no question the Avs' cap crunch has resulted in them being a less deep, less talented bunch. But there's still plenty of generational and high-end talent in Denver.
The Avalanche's defense corps is again one of the league's deepest, especially considering that veterans Brett Kulak and Brent Burns are returning to Colorado. The Avs will also have a full season with center Nazem Kadri in tow. Remember, they didn't re-acquire Kadri until the 2026 trade deadline, so having Kadri for the entire year will help their bottom six.
The Avs aren't flawless. We saw them hit a brick wall when the Vegas Golden Knights swept them in the Western Conference final. But this list ranks the best teams on paper this summer, and on paper, the Avalanche have the skill, speed and snarl to win many more games than they lose in the highly competitive Central Division.
Did The Avalanche, Stars And Wild Improve At All This Off-Season?
Three of the NHL's top teams in 2025-26 – the Colorado Avalanche, Dallas Stars and Minnesota Wild – have done little to help their roster this summer, writes Adam Proteau.
1. Carolina Hurricanes
When you're the reigning Cup-winner with few off-season changes, you get the benefit of the doubt when it comes to being named one of the best teams on paper the following season.
That's where the Carolina Hurricanes are right now. Canes GM Erik Tulsky has brought back virtually the entire team for the 2026-27 season, from forwards Seth Jarvis and Sebastian Aho to defensemen Jaccob Slavin and K'Andre Miller.
The most notable change is in net, as veteran Frederik Andersen left via free agency for the Edmonton Oilers. Tulsky has Brandon Bussi and Pyotr Kochetkov as his goalie tandem, but the Hurricanes have $9.8 million in cap space, and it should surprise no one if Tulsky uses it to trade for a high-end netminder – preferably, Winnipeg Jets superstar Connor Hellebuyck.
Another Cup-winning goalie could be available in the form of St. Louis Blues veteran Jordan Binnington. Tulsky wouldn't have to pay as high a price for Binnington as for the exorbitant price required to acquire Hellebuyck.
The Canes' biggest trade chip could be young blueliner Alexander Nikishin, but Tulsky has four first-round draft picks in the next three years. So an already-potent Carolina squad will likely be extremely imposing next season.
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This story was originally published July 11, 2026 at 8:17 AM.