What happened: The Anaheim Ducks matched a five-year offer sheet extended by the Philadelphia Flyers to center Leo Carlsson. The contract carries an average annual value of $18 million and begins in the 2026-27 NHL season.

Why it matters: Matching the historic offer keeps a foundational piece of Anaheim's core on the roster instead of losing him for draft pick compensation. The decision forces the franchise to absorb a massive cap hit that sets a new financial benchmark for the center market.

What to watch: The lucrative new contract goes into effect for the 2026-27 campaign as Anaheim continues building its roster.