The Vegas Golden Knights are back in familiar ground – bounced from a hardy playoff run that didn’t have the legs, and gearing up for a summer with minimal cap space. It’s a situation the young franchise has already landed in, and weaseled out of, multiple times before – but the 2025 summer will offer a particular challenge. Vegas is only projected to have $9.62MM in cap space this summer, per PuckPedia. They’ll have to use that money to redefine the bottom-six, with seven different depth wingers all set to hit the open market this summer.
Some of those pending free agents should be easy to re-sign. Jonas Rondbjerg has averaged just 19 NHL games a season over the last four years, and has just 10 points in 76 career games to show for it. He’s a bump-and-grind AHL winger who shouldn’t cost more than league-minimum to re-up. Much of the same can be said for Cole Schwindt, who seemed mounted for a breakout with 42 NHL games this year, but ended the year with only eight points.
But the mission quickly gets complicated as Vegas looks to parse through the remaining names. Original Golden Knight Reilly Smith seems destined on re-signing with the club, after making a return from the New York Rangers at the 2025 Trade Deadline. He scored 69 points in 134 games in one-and-a-half seasons away from Sin City, and closed the season with 15 points in 32 games in a muddied role with the Golden Knights. Smith had a career-year in his last full season with Vegas – netting 26 goals and 56 points in the Cup-winning 2022-23 season – and age hasn’t seemed to slow him down one bit. With only a few years left in his career, a modest deal for both sides could ensure Smith plays his 1,000th career game, and retires, in the city he’s spent the bulk of his NHL career.
