Tampa Bay Lightning Offseason Primer: Free Agents, Draft Capital, Salary Cap Space

After four straight first round exits, Tampa has some flexibility to get over the hump

Apr 26, 2026; Montreal, Quebec, CAN; Tampa Bay Lightning defenseman Darren Raddysh (43) looks on beside center Brayden Point (21) during warm-up before the game against the Montreal Canadiens in game four of the first round of the 2026 Stanley Cup Playoffs at Bell Centre. Mandatory Credit: David Kirouac-Imagn Images / David Kirouac-Imagn Images

Four straight years. That’s how long the Tampa Bay Lightning have walked into the playoffs with expectations and walked out in the first round.

The explanations are starting to wear thin. Jon Cooper leans on “the hockey gods.” Andrei Vasilevskiy is done hearing it. Inside the room, there’s a growing sense that belief alone isn’t enough anymore.

Tampa Bay knows exactly how good it is. That’s what makes this stretch so frustrating.

So, what does Tampa's offseason look like?

The Tampa Bay Lightning have been eliminated and head into the offseason with about $15 million in cap space.

Pretty much everyone is locked up. Darren Raddysh is a UFA who had a breakout season at 30 years old. pic.twitter.com/gcvTt0j3Rl

— Bruins Cap (@BruinsCapSpace) May 4, 2026

Free Agents

Darren Raddysh: Raddysh is the most important player that the Bolts have to make a decision on. A defenseman who has a breakout season ranking 4th on the Bolts with 70 points, breaking Tampa's single season goal record for defensemen (22) and securing 48 assists. Raddysh played on a $975,000 contract and will likely be looking for north of $6 million, a fairly reasonable clip.

Raddysh on if he would like to stay in Tampa:

“I'm very thankful for everything that Tampa has given me. They gave me a shot to play in the NHL and I've been here for the last four years. I can't say anything bad about this organization. It’s given me everything that I've always wanted to do in my life. The business side, I think, will take some time and let those guys deal with that and, like I said, just try to enjoy being a dad, enjoy the summer, and get back to that in a few weeks”

- Darren Raddysh

Corey Perry: Perry was a solid acquisition for Tampa in their lackluster trade deadline, but he is 40 years old. Tampa will likely let Perry walk to save room for Raddysh and to make moves to get younger and more physical.

Oliver Bjorkstrand: Bjorkstrand was honestly a terrible pickup. Two firsts and a second for Bjorkstrand—zero points, three playoff games as a healthy scratch, minus-14 on the year, and 12 goals. Tampa could have really used that first round pick this season, but here we are. Bjorkstrand likely walks.

Other Free Agents:

Scott Sabourin
Mitchell Chaffee
Nicholas Abruzzese
Declan Carlile (group 6)
Ian Mitchell
Brandon Halverson
Ryan Fanti (group 6)

RFAs
Maxim Groshev
Ethan Samson

Projected Cap Space

Tampa will have around $15 million dollars to work with.

Draft Picks

Tampa has their own second round pick, third, fifth, sixth, seventh, and Seattle's fifth.

The main priority for the Tampa Bay Lightning this offseason is re-signing Darren Raddysh. For a team that has struggled to score in big games, his lethal right-sided one-timer paired with Nikita Kucherov’s passing is a weapon that can’t be given up.

Player for player, they have… pic.twitter.com/Pt38Z3LEMQ

— Sam Len (@SamLenSports) May 4, 2026

The good news for Tampa is that their core is strong ((F) Kucherov, Point, Guentzel, Hagel, Cirelli, Gourde, Goncalves, Paul, (D) Hedman, Moser, McDonagh, Cernak, D’Astous), they have one of the NHL's best coaches and goalies, and they have the money to make some changes this offseason.

Tampa hasn't been afraid to take risks and make quick changes in the past, and with the offseason upon us, the priority starts with Darren Raddysh.