Leo Carlsson Offer Sheet Fallout Still Reshaping NHL Rosters as Dylan Larkin Trade Request Lingers Into August

August 5, 2026 5 Min Read

The NHL is deep into its offseason. But the league is still feeling the shock of the Leo Carlsson offer sheet. In fact, it was a record-setting bid the Philadelphia Flyers used to try to poach Anaheim Ducks center Leo Carlsson. The Ducks matched the five-year, $90 million offer on July 9, 2026. That kept their 21-year-old franchise center in Anaheim. It also left general manager Pat Verbeek with less than $10 million in salary-cap space. According to ESPN’s reporting on the fallout.

Free agency’s first wave is now done. So attention has shifted to players still hoping to be moved. Among them is Detroit Red Wings captain Dylan Larkin. Who asked for a trade this spring. He remains in limbo while the Red Wings sort out a front-office change, per Bleacher Report.

Key Facts on the Leo Carlsson Offer Sheet

The Philadelphia Flyers sent an offer sheet to Anaheim Ducks restricted free agent (RFA) Leo Carlsson on July 9, 2026. The Ducks matched it that same day, according to ESPN.
Carlsson’s matched contract is worth $90 million over five years. That $18 million average annual value briefly made the 21-year-old the NHL’s highest-paid player, per ESPN.
If Anaheim had not matched, Philadelphia would have owed the Ducks four first-round draft picks, ESPN reported.
The matched deal leaves the Ducks with less than $10 million in cap space. That complicates talks with RFA Cutter Gauthier, according to ESPN’s reporting.
Dylan Larkin, the Red Wings’ captain, formally requested a trade this spring. He has given the team a four-team list. Bleacher Report considers the Minnesota Wild the presumed frontrunner.
Winnipeg Jets goaltender Connor Hellebuyck is a three-time Vezina Trophy winner signed through 2030-31. The Buffalo Sabres discussed a trade for him before the NHL Draft. Bleacher Report notes that speculation has cooled since mid-July.
DobberHockey called Jason Robertson’s arbitration case and the Leo Carlsson offer sheet the offseason’s two biggest stories. Both are shaping the RFA market.

The Leo Carlsson Offer Sheet That Shook the League

Meanwhile, offer sheets are among the rarest moves in the NHL. The one Philadelphia general manager Daniel Briere handed to Leo Carlsson on July 9 was bold by any measure. ESPN reported the five-year, $90 million offer carried an $18 million cap hit. Signing bonuses made up $83.5 million of the total. That means the money is locked in and safe from a buyout. For now, for a brief window, the deal would have made Carlsson the highest-paid player in the league by AAV. He was then just 21 years old, with 141 points in 201 career games.

Anaheim matched before the day was out, according to ESPN. The move kept a key piece of Anaheim’s young core in place. But the price of keeping him was steep. As a result, the Ducks are now left with less than $10 million in cap room. ESPN reported that figure is directly complicating talks with RFA forward Cutter Gauthier. It is also forcing tough roster calls on the back end. If Verbeek and the Ducks had let Carlsson walk. Philadelphia would have sent Anaheim four first-round draft picks. Still, that haul shows how big the swing was, either way.

DobberHockey, in its own analysis, grouped the Carlsson case with Jason Robertson’s arbitration fight. The outlet called them the two biggest RFA stories of the summer. That is a sign the offer sheet’s effects reach far beyond Anaheim and Philadelphia.

Dylan Larkin’s Trade Request Remains Unresolved

The Leo Carlsson offer sheet situation is resolved, at least for now. Detroit’s Dylan Larkin situation is not. Bleacher Report’s August trade-targets board says the 29-year-old captain formally asked for a trade from the Red Wings this spring. That request has made him one of the players most likely to be dealt before the season starts.

A management change atop the Red Wings’ front office is holding up a decision, according to Bleacher Report. That shift has left Larkin’s situation “in limbo” while the club sorts out its leadership before deciding on its captain’s future. Also, larkin has reportedly given the team a list of four preferred destinations. The Minnesota Wild are presumed to be the frontrunner among them. Whether Larkin ultimately drops the request, or the Red Wings move forward with a trade. May depend on how fast Detroit settles its management questions, per the report.

Hellebuyck Speculation Cools, But He’s Still No. 1 on the Board

Winnipeg goaltender Connor Hellebuyck is the reigning three-time Vezina Trophy winner. Meanwhile, he topped Bleacher Report’s list of players most likely to be traded this offseason. Though the outlet says trade talk has cooled since mid-July. Hellebuyck’s contract runs through the 2030-31 season. And he holds a full no-movement clause. That gives Winnipeg, not Hellebuyck or any suitor. For now, full control over whether and when a trade happens.

Bleacher Report reported that the Jets held trade talks with the Buffalo Sabres ahead of the NHL Draft. Analysts floated a package built around center Ryan McLeod. It would also include either a big secondary piece or promising defenseman Radim Mrtka. Nothing has come of it since. As a result, but Hellebuyck’s elite play and contract control mean he will likely stay a trade topic all summer. That holds true no matter how quiet the rumor mill gets in any given week.

Why the Leo Carlsson Offer Sheet Changed This Offseason

The Carlsson offer sheet, Robertson’s arbitration fight. And the open Larkin and Hellebuyck situations have made the 2026 NHL offseason very busy. It is normally a quiet period of roster-building, not blockbuster drama. Still, eSPN’s own review of the summer’s biggest stories grouped the Carlsson saga with other flashpoints. Together, they show front offices taking bigger swings than in past years. That includes offer sheets, arbitration brinkmanship. And public trade requests from star players still under contract.

What Comes Next

Training camps are still weeks away. The biggest questions are simple. Will Detroit resolve Dylan Larkin’s trade request? Will Winnipeg’s Connor Hellebuyck market heat back up before the season starts? And how will Anaheim’s tight cap situation affect its talks with Cutter Gauthier? None of those situations is expected to settle overnight. Also, but each is likely to keep shaping NHL storylines through the rest of the offseason and into training camp.