VANCOUVER, British Columbia — The Blackhawks will go fishing for top free agents this summer.
Working in their favor will be an appealing lure: their salary-cap space. That means general manager Kyle Davidson will be able to offer players more money to come to Chicago than they could arguably get anywhere else, even when factoring in Illinois’ higher income taxes.
Even after acquiring Shea Weber’s dead-weight contract to ensure they’ll reach the cap floor next season, the Hawks currently possess a projected $32.0 million in cap space in 2025-26 (seventh-most in the NHL) and a projected $84.1 million in cap space for 2026-27 (the most in the league).
Working against them, however, will be the metaphorical equivalent of a flimsy rod: their reputation as losers.
The Hawks failed to reel in Jake Guentzel last summer in part due to that reputation, and he probably doesn’t regret it. Guentzel’s Lightning will compete for a Stanley Cup this year and every year in the foreseeable future, while the Hawks will spend the second half of April golfing yet again.
Seth Jones running out of patience with the Hawks, maligning how demoralizing the past four years of losing had been and requesting a trade to a contender (which turned out to be the Panthers) focused an even brighter spotlight on that reputation.
Around the league, not many people know a lot about the Hawks’ enormous prospect pool or promising recent call-ups, but everyone knows very well just how bad the Hawks’ NHL roster has been in recent seasons. That’s not surprising; it only takes one glance at the standings, rather than a deep-dive into the scouting world, to be reminded of the latter fact.
That, in turn, creates an impression that the Hawks are poorly run. In The Athletic’s agents poll in February, for example, the Hawks received the third-most votes as the league’s worst-run franchise, behind the Sabres and Ducks.
That’s almost surreal considering where the Hawks stood relative to the rest of the league a decade ago. Back then, partially because of their rampant success and partially because most warm-climate, low-tax franchises hadn’t figured out how to utilize those advantages yet (whereas they since have), Chicago was a very desirable destination for free agents.
Even now, many of Chicago’s appeals remain. It’s still a big market with a passionate fan base, offering players more marketing opportunities and exposure than they get elsewhere. And unlike most other franchises fitting that description, it’s not in Canada, so there are no immigration hurdles or currency valuation concerns.
The Hawks still treat players well off the ice, too. They’re known for luxurious travel accommodations and extensive support staffs, and Fifth Third Arena is an excellent practice facility that draws rave reviews from every new player who arrives (including Spencer Knight most recently).
As the salary cap skyrockets over the next three years, chairman Danny Wirtz’s relatively deep pockets could benefit the Hawks even more, since the number of teams willing to spend all the way to the cap is expected to shrink.
However, the Hawks’ allure isn’t close to what it used to be. Their perceived great distance from playoff contention has far surpassed cold weather as Chicago’s biggest negative in many players’ minds.
With Mikko Rantanen locked up in Dallas, current Maple Leafs forward Mitch Marner has become the crown jewel of the 2025 free-agent class, and the Hawks — along with many other teams — will push very hard for him.
Financially, the Hawks’ offer is bound to be competitive, and they could also sell Marner on the idea of being Connor Bedard’s long-term running mate. With Bedard and Marner together, the Hawks would finally have a legit top line.
But will Marner, who has won just one playoff series in his career, be willing to join a team that probably won’t make the playoffs in 2026 and will need to jump over dozens of rivals to become the contender they hope to be in 2027, 2028 and beyond?
Other upper-end free agents like Brock Boeser, Nikolaj Ehlers, Aaron Ekblad and Jakob Chychrun will mull the same question.
Far enough down the list, the Hawks’ financial muscle would absolutely be substantial enough to convince some guys to sign. That’s what happened last summer with Teuvo Teravainen and Tyler Bertuzzi, though, and they’ve failed to move the needle.
If that happens again, the Hawks could find themselves stuck in a chicken-or-egg situation in which they need one or two established stars to become a better team but can’t attract those established stars until they’re a better team.
That’s why the trade market might be more fruitful for Davidson, since through that method he could package prospects and picks to acquire established players with less autonomy and leverage.
Only being able to acquire high-end players via trade rather than via free agency is nonetheless a problem in itself — a problem that might be unavoidable in Winnipeg or Carolina but shouldn’t be in Chicago.
Moving forward, the Hawks will battle against their loser reputation; they have to. It’ll be interesting to see if they can overcome it.