What happened: Colorado opened the 2026-27 league year by signing left wing Jaden Schwartz to a three-year contract carrying a $3.25 million annual cap hit. The Avalanche also added right-shot defenseman Noah Juulsen on a two-year deal worth $1.1 million per season. GM Joe Sakic framed Schwartz as a top-nine forward who can move around the lineup and Juulsen as a depth blueliner with size.
Why it matters: The additions are modest by design: Sakic told reporters the plan is to largely run it back with this group and preserve cap flexibility for a trade-deadline move. That approach hinges on the bigger business still outstanding, including a Cale Makar contract and an extension for new arrival Fabian Lysell. Until those are resolved, Colorado's offseason reads as deliberately restrained rather than finished.
By the numbers: Schwartz, 34, posted 26 points and 11 goals in 50 injury-shortened games last season after coming up with the Seattle Kraken and winning a Cup with the 2019 St. Louis Blues. Juulsen recorded 10 points in 52 games with the Philadelphia Flyers, projecting as a seventh-defenseman option on a right side Colorado is already deep in.
What to watch: Watch whether the Makar contract and Lysell's extension get done before camp, and whether Sakic uses the banked cap room on a deadline upgrade.