Panthers Weigh Bobrovsky Extension Against Hellebuyck Trade

The Florida Panthers are negotiating a five-to-six-year contract with Sergei Bobrovsky aimed at the $4 million AAV range while actively checking in on Connor Hellebuyck.

Bobrovsky Talks Center on AAV Gap

Dave Pagnotta reported that Florida prefers a five-to-six-year term for Bobrovsky at roughly $4 million per season. The 37-year-old netminder will turn 38 before the 2026-27 campaign begins. Term length is not the sticking point; the annual cap hit remains the obstacle.

Panthers general manager Bill Zito has kept the door open for a return. Bobrovsky posted a .906 save percentage in 41 appearances during the 2025-26 season. Re-signing him at the targeted number would leave Florida approximately $3.8 million in projected cap space for other roster moves.

Winnipeg’s insistence on Anton Lundell in any Hellebuyck package has stalled progress on that front. Florida has rejected including the 24-year-old center, whose cap hit sits at $1.55 million. A middle-ground proposal could involve Eetu Luostarinen at $3 million, yet Winnipeg continues to prioritize the higher-value asset.

Hellebuyck Trade Remains Viable Backup

Pagnotta confirmed renewed conversations between Florida and Winnipeg over Connor Hellebuyck. The Jets have resisted moving their 32-year-old starter despite multiple offers. Hellebuyck recorded a .922 save percentage across 59 games last season.

Any deal would likely require Florida to surrender at least one first-round pick plus a roster player. Hellebuyck holds a full no-trade clause and has stated a preference for contending teams. Florida’s Stanley Cup pedigree satisfies that condition.

Jordan Binnington appears as a secondary option if both primary paths fail. The 32-year-old St. Louis netminder carries a $6 million cap hit through 2027-28. Florida has already held preliminary discussions with the Blues.

Market Depth Offers Additional Flexibility

Beyond the three names mentioned, Florida continues to monitor the broader goaltending market. Multiple teams hold pending free agents or unhappy starters entering the 2026 offseason. Zito’s track record suggests he will identify value wherever it surfaces.

The Panthers’ willingness to explore every avenue prevents them from overpaying in either free agency or trade. This layered strategy preserves assets for future windows while addressing immediate crease stability.

Bobrovsky’s current deal expires after the 2025-26 season. A new five-year pact at $4 million AAV would carry him through age 42. Hellebuyck’s trade value peaks this summer before his own contract situation evolves.