The Florida Panthers had a difficult task this summer after winning the Stanley Cup. Three of the NHL’s best free agents — Aaron Ekblad, Sam Bennett, and Brad Marchand — were members of this Panthers team. General manager Bill Zito had to decide whether to keep all three, or allow one of them to walk and find a way to replace them.
In the end, Zito decided to keep them around. Bennett was the first to re-sign with the Panthers, doing so right before the 2025 NHL Draft. Marchand and Ekblad followed suit, signing before the market opened on July 1. With that out of the way, Florida kept important pieces of their core in Sunrise for the foreseeable future.
One of these players represent Florida’s best signing of 2025 NHL Free Agency. However, parsing out who is the best signing is tricky. Bennett plays a valuable position, and he is coming off a Conn Smythe performance in the 2025 Stanley Cup Playoffs.
Marchand joined the team at the 2025 NHL Trade Deadline. In the playoffs, though, he took to the team’s culture in a massive way. He played an important role in defeating the Edmonton Oilers in the Final, as well.
However, both players come with significant risk. This is not to say that Ekblad doesn’t pose any risk, to be clear. In saying this, he is the Panthers’ best free agent signing of the 2025 offseason for a couple reasons.
Free Agent Market Heightened Aaron Ekblad’s Importance
Bruce Bennett/Getty ImagesAaron Ekblad will continue his long and successful career with the Florida Panthers.
Obviously, had either of these three players left the Panthers, replacing them would have been difficult. However, replacing Bennett and Marchand may have proven slightly easier than replacing Ekblad when looking at the NHL Free Agency market.
The Panthers had a second-line center replacement in-house already. Anton Lundell could have filled in for Bennett had he left. Lundell, 23, has potential as a top-six forward in the NHL. Marchand, meanwhile, could have been replaced with the likes of Nikolaj Ehlers or Brock Boeser had Florida shopped for a top-six winger.
However, the market was barren for top-four right-shot defensemen. Trade pickup Seth Jones could have performed well on the first line. Behind him, though, Florida would have been in trouble. The top right-shot defensemen included Cody Ceci and Nick Perbix.
Ekblad brings concerns, especially when it comes to his injury history. But there was no clear path to replacing his production on the backend. This made re-signing him all the more important.
Panthers Signed Ekblad Below Perceived Value
One concern around a potential Ekblad extension was his cap hit. The NHL’s salary cap rose during the 2025 offseason. And it’s going to continue to rise over the next few seasons. As a result, many believed Ekblad may have commanded close to $8 million on the open market.
Instead, the veteran rearguard signed a six-year contract to remain with the team that drafted him. Moreover, his contract carries a cap hit of $6.1 million per season. This is still a lofty guarantee, to be clear. But it’s better than what many expected him to get in NHL Free Agency.
In the end, Ekbald chose to remain in Florida over a more significant payday. He has two Stanley Cup rings, so he had little else to chase beyond a load of money. Sticking with the Panthers allows him to chase more rings while still making bank, so it works out for all involved.
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