NHL Free Agency: Insider Names Two Finalists For Nikolaj Ehlers

After days of speculation and growing interest, the Nikolaj Ehlers sweepstakes are officially down to two final contenders: the Carolina Hurricanes and the Washington Capitals, according to NHL insider Frank Seravalli of Daily Faceoff. 

The 29-year-old winger, one of the top remaining unrestricted free agents, is expected to make a decision shortly after weighing long-term offers and market fit.

Nikolaj Ehlers' free agency decision comes down to two teams

Ehlers remains a rare blend of consistency and top-six talent. He's coming off back-to-back 60-point seasons and tallied 63 points in just 69 games last year with the Presidents’ Trophy–winning Jets. 

With elite speed, scoring touch, and playoff experience, he’s exactly the type of impact winger both teams are eager to add, though one has the clear edge in flexibility.

Frank Seravalli: Re Nikolaj Ehlers: I'm focusing on two teams, either Washington or Carolina - Big Show

— NHL Rumour Report (@NHLRumourReport) July 2, 2025

Carolina offers cap space, stability, and the best chance to win

The Hurricanes appear to be the frontrunner, thanks to over $18 million in available cap space and a long-standing interest in Ehlers. They’ve reportedly attempted to trade for him in the past, and now have the ability to offer a significant contract without clearing space. 

Carolina's competitive roster, analytical system, and quieter market are also believed to align with Ehlers' personal preferences - he’s made it clear he wants to play in a low-profile, warm-weather market after nine seasons in Winnipeg.

With top UFA Nikolaj Ehlers now down to a few teams he's deciding between, the expectation is that his decision should be made at some point today.

— Chris Johnston (@reporterchris) July 2, 2025

Washington’s pitch is compelling, but complicated

The Capitals remain in the mix, thanks to aggressive front office moves and a willingness to spend. Washington sees Ehlers as a big piece to support their aging core, particularly with Alex Ovechkin entering the twilight of his career. 

But their $6.95 million in cap space means they'd need to move pieces to fit Ehlers’ projected $8M+ AAV. If the Caps can’t clear that space quickly, they risk losing out to a better-prepared Hurricanes front office that’s been quietly building toward a major signing.

Photo Credit: James Guillory-Imagn Images