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The Philadelphia Flyers are in a holding pattern while they await the fate of their offer sheet to Anaheim Ducks center Leo Carlsson. If the Ducks match the offer sheet — and the thought here is that it gets matched despite the slew of headaches it will create for Anaheim — the Flyers themselves will face an array of challenges.
Right off the bat, the Flyers still need to get restricted free agents Jamie Drysdale and Trevor Zegras signed to new deals. Drysdale seems to be the more straightforward of the two. Rumors circulated shortly before the Carlsson offer sheet that the Flyers and the defenseman were close to an agreement that would play Drysdale roughly the Travis Sanheim cap range ($6.25 million AAV). That could still change.
Zegras is trickier, especially if Carlsson joins the Flyers at an $18 million cap hit. Zegras has made clear that he wants to remain in Philadelphia for the long haul. However, business is business. Even before the Carlsson offer sheet, rumored numbers stretched the comfort level. For example, is Trevor Zegras a $10 million dollar AAV player? He may not have been beforehand, certainly. But with the cap spending explosion, how much does the valuation change for Zegras?
Positional considerations
The Flyers signed Christian Dvorak to a five-year contract extension ($5.15 million AAV, full no-trade clause for two years) a few months ago. Team captain Sean Couturier has four years left on his contract with three years of a no-move clause. Noah Cates ($4 million AAV) has three seasons left on the deal he signed last summer. Cates does not have any no-trade clauses in his contract.
Zegras played a hybrid wing/center role for the Flyers last season. So did Dvorak to a lesser extent. However, during the second half of the season and the playoffs, Zegras’ usage in a more traditional center role increased somewhat. The player himself doesn’t mind the hybrid role. However, he’s also made clear that he’d relish being a full-time center.
The Michkov factor
Matvei Michkov’s entry-level contract expires after the 2026-27 season. Players’ first post-ELC negotiation was rarely a big hassle until very recently. However, the Carlsson situation changes the compass. Michkov would be eligible for an offer sheet next summer. That’s no longer just a technicality. It’s something the Flyers need to address proactively.
It’s still too early to speculate on what Michkov’s contract may look like. It depends on many variables:
- Michkov’s productivity next season. A strong first half. for example, would raise the bar on a mid season extension agreement.
- Term. Would it be a bridge deal (short-term savings, long-term risk) or a long-term deal? Would it take Michkov to within one year of UFA status or walk him directly to his first unrestricted free agency year?
- How will the marketplace as a whole shape up? Salaries will only keep rising.
Team Toyota Spotlight: Power Play defenseman?
The Flyers entered the 2026 off-season with three major holes to fill: power play top unit defenseman, first-line center and backup goaltender. They took care of the goaltender situation with the Joseph Woll acquisition. If they get Carlsson, they’ve addressed the first-line need for at least five years.
As for the power play defenseman? That need remains glaring. Would the Flyers try to acquire a stopgap solution? For example, John Klingberg remains an unrestricted free agent. The former Dallas Stars’ blueliner saw his stock plummet in recent years as he bounced around the NHL. He’s also had injury issues. However, when healthy, he can still contribute points and help a power play.
Would Philly undertake a similar one-year project? Or would they cross their fingers on David Jiricek or other in-house candidates (bumper Bonk?). Danny Briere said he’s more inclined to the latter. We shall see. The Flyers still have a crying need for power play improvement and a threat from the point is needed even with a forward upgrade.
O&B Puckcast: Special guests Anthony DiMarco and Kevin Durso
The O&B Puckcast team breaks down the Leo Carlsson offer sheet and talks about the domino effects. Guest panelists are Anthony DiMarco and Kevin Durso.
Cold War in Philly: July to September showings added
There are eight new showings added to the schedule for Joe Amodei’s Cold War in Philadelphia documentary about the 1976 game between the Flyers and CSKA Moscow (Red Army). The schedule is below:
Wilmington: Friday, July 17, 2026
Theatre N (21 W. Tenth Street)
Ticket Information
Oaks, PA: Fri. July 17, Sat. July 18, Sun. July 19, Mon. July 20
Oaks Center Cinema (180 Mill Rd.)
Ticket Information
Sellersville, PA: Thursday , August 13
Sellersville Theatre (24 West Temple Ave.)
Ticket Information
Bryn Mawr, PA: Wednesday, September 2
Bryn Mawr Film Institute (824 W. Lancaster Ave.)
Ticket Information
Lexington, MA: Monday, September 21
Lexington Venue (1794 Massachusetts Ave)
Ticket Information
Hockey Hot Stove Exclusive: Win this rare Flyers Alumni autograph collection
Guffaw Cigars
Five-time NHL All-Star and Flyers Hall of Fame inductee Brian Propp introduced his own line of top-quality hand-crafted Dominican cigars . The Guffaw Cigar collection is highly rated for its balanced boldness, sophistication and premium-aged tobacco. Brian himself is a longtime cigar aficionado. He wanted his signature line to reflect the qualities he values in a cigar.
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