Winners and Losers from the 2024-25 NHL Regular Season

On Thursday, the 2024-25 NHL regular season reaches its conclusion. Soon after, the focus will shift toward the two-month march to the Stanley Cup, beginning with the opening round of the 2025 playoffs starting on Saturday.

It's been over seven months since the schedule began on Oct. 4, 2024, with the Buffalo Sabres and New Jersey Devils playing the first of two games in Prague, Czech Republic, as part of the NHL Global Series.

Among the highlights were Washington Capitals captain Alex Ovechkin breaking the all-time goal-scoring record and a thrilling championship game between Canada and the United States in the 4 Nations Face-Off in February.

This season also had its lowlights. Some of the high-spending clubs in last summer's free-agent market didn't get the on-ice results they expected, and several teams that finished high in last year's standings failed to qualify for this year's postseason.

Here's a quick look back at the regular season as we review the notable winners and losers of 2024-25.

Every NHL offseason sees some teams scramble to sign the top available talent among the unrestricted free agents when the market opens on July 1. Last summer was no exception

The Nashville Predators made the biggest splash, signing Steven Stamkos, Jonathan Marchessault and Brady Skjei. The Boston Bruins brought in Elias Lindholm and Nikita Zadorov, while the Seattle Kraken added Brandon Montour and Chandler Stephenson.

The Chicago Blackhawks added Tyler Bertuzzi, Teuvo Teräväinen and Alec Martinez; the Detroit Red Wings retained Patrick Kane and added Vladimir Tarasenko, Cam Talbot and Eric Gustafsson; and the Edmonton Oilers inked Viktor Arvidsson and Jeff Skinner.

Most of those clubs were considered the winners in the free-agent frenzy for snapping up so much of the best talent, but these moves did little to improve their performances this season.

Of those six clubs, Edmonton is the only one advancing to the 2025 playoffs. Even then, the additions of Arvidsson and Skinner failed to improve its secondary scoring depth, leaving the team again relying heavily on Connor McDavid and Leon Draisaitl.

These signings proved that winning in the offseason free-agent market doesn't always translate into wins on the ice.

The NHL salary-cap system usually hampers trades during the regular season. Most clubs have limited cap room after an offseason of free-agent and trade acquisitions, leaving little space to make significant deals once the schedule begins.

Most of the activity occurs at the trade deadline when teams accrue sufficient cap space to add players. It tends to involve contenders acquiring UFA-eligible players as postseason rentals from rebuilding non-contending clubs in exchange for draft picks and prospects.

During the season, trade activity involving swaps of players—especially recognizable talents—rarely occurs.

However, this season was a notable exception. Several deals involving notable names transpired from December until the March 7 trade deadline. In some cases, these were what fans call "hockey trades" in which players were moved in exchange for quality returns.

Among the notable players moved earlier in the season were Jacob Trouba getting dealt by the New York Rangers to Anaheim, and the Ducks shipping Cam Fowler to the St. Louis Blues. Both deals came in December.

The biggest blockbuster was a three-team trade on Jan. 24 as the Colorado Avalanche sent Mikko Rantanen to the Carolina Hurricanes in a three-team deal with the Chicago Blackhawks. The Avalanche received forwards Martin Nečas and Jack Drury, while the Hurricanes also got Taylor Hall from Chicago.

A week later, the Rangers acquired center J.T. Miller in a multi-player trade with the Vancouver Canucks, who received center Filip Chytil, promising defenseman Victor Mancini and a first-round pick, which they flipped to the Pittsburgh Penguins as part of the return for defenseman Marcus Pettersson.

Rantanen was on the move again by the trade deadline, shipped to the Dallas Stars for winger Logan Stankoven and four draft picks, including two first-rounders. Another significant deal saw the Ottawa Senators acquire Dylan Cozens from the Buffalo Sabres for Josh Norris and Jacob Bernard-Docker.

The projected rise of the salary cap to $95.5 million for next season played a role in this increase of trade activity involving players signed past this season such as Trouba, Miller, Cozens and Norris.

It also played a part in Rantanen being shipped to Carolina and then to Dallas, where he signed an eight-year extension.

Entering this season, the Buffalo Sabres, Detroit Red Wings and Ottawa Senators were expected to enjoy their long-anticipated breakout performances in the Eastern Conference.

All three teams had spent several years rebuilding their rosters. They were stuck in long postseason droughts, with the Sabres' last playoff appearance coming in 2010-11, the Red Wings in 2015-16 and the Senators in 2016-17.

They all sat in playoff berths in the Eastern Conference at various points this season. When the campaign ended, the Senators clinched a wild-card berth while the Sabres and Red Wings were eliminated again.

Why did the Senators succeed while the Sabres and Red Wings failed?

Goaltending was a big reason. Adding Linus Ullmark last summer saw the Senators reduce their goals-against per game from 3.43 last season to 2.79 this season. Meanwhile, the Sabres' goaltending regressed from 2.96 to 3.49, while the Red Wings only marginally improved from 3.33 to 3.16.

The Senators' overall defensive game improved under first-year head coach Travis Green. Long-time blueline stalwart Thomas Chabot had the best defensive season of his career (plus/minus of plus-19), young Jake Sanderson continues to blossom into a blue-line star, and Nick Jensen proved a reliable offseason acquisition.

Buffalo has no problem scoring goals, sitting seventh in goals per game (3.25), but it can't keep the puck out of its own net. It has skilled defensemen like Rasmus Dahlin, Bowen Byram and Owen Power, but the overall blue-line corps had issues with consistency.

The Red Wings' depth in skilled defensemen in their prime drops sharply beyond top rearguard Moritz Seider. They also lack scoring punch despite the presence of Dylan Larkin, Alex DeBrincat and Lucas Raymond on their forward lines, sitting 24th in goals-per-game (2.84).

Having extended their playoff droughts for another season, the Sabres and Red Wings enter the offseason with their respective managements under pressure to address the issues that held them back this season.

Another failed effort in 2025-26 could result in some front-office shakeups and significant roster changes.

Until Alex Ovechkin came along, Wayne Gretzky's record of 894 career goals was considered as unbreakable as his records for most assists (1,963) and points (2,857).

The game had changed so much and there was so much parity that it seemed no one would ever reach 800 goals, let alone break 894.

However, Ovechkin's durability, strength, blazing shot and uncanny ability to put himself in prime scoring positions over his 20-season NHL career made him the greatest goal-scorer in NHL history.

Breaking Gretzky's record was a history-making achievement few hockey fans believed they would see.

Ovechkin has won the Maurice Richard Trophy nine times, with Auston Matthews of the Toronto Maple Leafs a distant second as a three-time winner. His 43 goals this season made him and Gordie Howe the only two players to reach 40 goals at age 39 or older.

The Russian's quest for the goals record overshadowed how much the Capitals exceeded expectations this season. Predicted to be at best a playoff bubble team, they sat atop the Eastern Conference for most of this season, clinching the conference crown on April 10 by defeating the Carolina Hurricanes.

Their offseason acquisitions of goaltender Logan Thompson, defenseman Jakob Chychrun and forwards Pierre-Luc Dubois and Andrew Mangiapane paid significant dividends this season. Head coach Spencer Carbery did an impressive job of molding his players into a dominant regular-season team.

Finishing first in the conference is no guarantee of a Stanley Cup run, but it still gives the Capitals good odds and home-ice advantage throughout the first three rounds.

With Ovechkin still a dangerous scoring threat, they are the team to beat in the Eastern Conference.

After several inconsistent years, the Vancouver Canucks emerged last season as one of the top teams in the Western Conference.

They finished third overall with the third-best record in franchise history of 50 wins and 109 points. They also came within a game of reaching the 2024 Western Conference Final.

Expectations were high for them this season, but things quickly fell apart. Injuries to key players such as Thatcher Demko and team captain Quinn Hughes, inconsistent performances and sloppy defensive play contributed to their slide down the standings and out of the 2025 playoff picture.

The biggest factor, however, was a rift between top centers Elias Pettersson and J.T. Miller. It had been growing for some time, but it finally reached breaking point this season, adversely affecting team chemistry as it festered for months.

Miller was eventually traded to the New York Rangers on Jan. 31, but the move did little to improve the Canucks' fortunes. It also didn't elevate Pettersson's game as his 45 points in 64 games was his worst performance in an 82-game season.

The fallout will resonate into the offseason. Speculation persists over head coach Rick Tocchet's future with the team, while winger Brock Boeser considers it unlikely he'll be re-signed before his eligibility for unrestricted free-agent status on July 1.

It's up to team president Jim Rutherford and general manager Patrik Allvin to get the Canucks back on track. They must find a way to help Pettersson regain his high-scoring form and re-sign Tocchet and Boeser or find suitable replacements.

Their roster weaknesses must also be addressed. Those include finding a reliable second-line center and adding another skilled right-shot defenseman among their top two blue-line pairings.

Two years ago, the Winnipeg Jets were first overall in the Western Conference by mid-January before a shaky second half sent them tumbling to eighth overall by the end of the season. Last year, they were second in the West and fourth in the overall standings.

They entered this season expected to remain among the top-four teams in the West. They've exceeded those expectations, finishing first in the overall standings to take home the Presidents' Trophy for the first time in franchise history.

Several factors accounted for the Jets' dominance. They performed well under first-year head coach Scott Arniel, while Matt Scheifele and Kyle Connor have had career-best performances with 86 and 96 points, respectively.

Led by Josh Morrissey, Neal Pionk and the improving Dylan Samberg, the Jets possess a solid defense corps. Forward Gabriel Vilardi is having his long-awaited breakout campaign, while Cole Perfetti continues to develop into a skilled winger.

The biggest factor, though, is Connor Hellebuyck. A two-time Vezina Trophy winner (2019-20, 2023-24), he is the best goaltender in the NHL today. He leads all starters with 46 wins, a 2.02 goals-against average, a .924 save percentage, and eight shutouts.

Thanks to his 31-year-old's superb goaltending this season, he is all but certain to become the first netminder since Martin Brodeur to win the Vezina Trophy at least three times.

Hellebuyck and the Jets dominated the regular season, but the furthest they've gone in the playoffs is the Western Conference Final in 2017. Winning the Presidents' Trophy doesn't guarantee a Stanley Cup triumph, but this version of the team could become the first to claim both since the 2012-13 Chicago Blackhawks.

A year ago, the New York Rangers finished atop the NHL overall standings, winning the Presidents' Trophy for the fourth time in franchise history.

Despite being eliminated from the Eastern Conference Final by the Florida Panthers, they entered this season considered among the Stanley Cup favorites.

Fast forward to April 11, 2025, and the Rangers were eliminated from the Eastern Conference playoff race. Calling that a disappointment is an understatement.

The troubles began after general manager Chris Drury placed popular checking forward Barclay Goodrow on waivers last June, where he was claimed by the San Jose Sharks. Things worsened following his failed attempt to trade team captain Jacob Trouba before the free-agent market opened on July 1.

Following a strong start to this season, the Rangers fell apart in November and tumbled down the standings. Drury made a series of trades to shake up the roster, including shipping Trouba to the Anaheim Ducks and acquiring J.T. Miller from the Vancouver Canucks.

Those moves did little to improve their fortunes. They flirted with reaching the final wild-card berth but couldn't gain traction in the standings, struggling through the remainder of the schedule following the March 7 trade deadline.

The 2024-25 Rangers became the fourth team in NHL history to miss the playoffs a year after winning the Presidents' Trophy. They joined the 2014-15 Boston Bruins, the 2007-08 Buffalo Sabres, and the 1992-93 Rangers.

Their difficulties this season raise questions over what other moves Drury has in store to stage a quick turnaround and improve their performance next season.

It's shaping up to be an interesting offseason in the Big Apple.

When NHL commissioner Gary Bettman announced the 4 Nations Face-Off Tournament at the 2024 All-Star Game, it seemed little more than an unnecessary gimmick interrupting the league's regular season for 12 days in February 2025.

Promoted as a tune-up for the NHL's return to the Winter Olympics in 2026, the tournament featured the best NHL players from Canada, Finland, Sweden and the United States competing in a seven-game event over nine days from February 10-21, 2025.

Notable hockey nations like Russia, Germany, Switzerland and Czechia were excluded, meaning superstars like Alex Ovechkin, Leon Draisaitl, Roman Josi and David Pastrnak wouldn't be participating.

Observers wondered if the players involved would play their best and risk injury in a meaningless competition.

However, what could have been a midseason dud became the highlight of the 2024-25 campaign. The 4 Nations Face-Off exceeded expectations, becoming an enormous success for the league at the box office and in television ratings.

Most of the games were closely contested as the players went all-out to win. It culminated in the championship game between Canada and the U.S. that went to overtime before Connor McDavid won it for Canada by a score of 3-2.

The 4 Nations Face-Off reminded fans of how great international competition can be when the best players in the world are involved, something they hadn't seen since the 2016 World Cup of Hockey.

It whetted everyone's appetite for future tournaments involving all the top hockey-playing countries.

Stats, standings and trade information (as of Apr. 14, 2025) via NHL.com.