Seattle Kraken Sign Chandler Stephenson to 7-Year Deal

The Seattle Kraken have signed forward Chandler Stephenson to a seven-year deal with an average annual value (AAV) of $6.25 million, according to Elliotte Friedman of Sportsnet.

A third-round pick of the Washington Capitals in the 2012 NHL Entry Draft, Stephenson has spent his career thus far with the Capitals and Vegas Golden Knights, winning one Stanley Cup with each franchise and making the All-Star Game in 2023. He appeared in 75 games for Vegas in 2023-24, registering 51 points. He also played in all seven Golden Knights playoff games, managing one assist in addition to eight penalty minutes.

Stephenson Broke Out With the Golden Knights

Over the course of about five seasons with Washington, Stephenson bounced back and forth between the Capitals and the Hershey Bears of the American Hockey League. He never scored more than six goals or 18 points in a season during his NHL stints, although he did appear in all 24 of Washington’s playoff games in 2018, adding seven points during their Stanley Cup run. Midway through the 2019-20 season, Washington traded him to Vegas in a small deal.

Related: 2024 NHL Free Agency Tracker

Stephenson managed more goals and points in that half-season with the Golden Knights than he did in any season with the Capitals and has continued to excel ever since. He scored double-digit goals in every full season of his time in Vegas, including a career-high of 21 in 2021-22 and has exceeded 60 points in two different seasons. Furthermore, he contributed 10 goals during the 2023 Playoffs as the Golden Knights won him his second Cup. Seattle now signs him in the hope he can provide them with the same level of offensive production he’s reached over the last few years.

Kraken Add a Veteran Forward; Look to Return to Playoffs

The Kraken made their first-ever playoff appearance in 2023 — their second season in existence — but took a step backward in 2024 by finishing sixth in the Pacific Division. This offseason, they are hoping to retool and recalibrate by signing experienced players who they hope can take them back to the postseason. Stephenson is already their second big swing of free agency.

As previously mentioned, Stephenson is a skilled offensive player who has made playoff contributions to multiple Cup-winning teams. Seattle’s free agency moves show that they believe they can reach the playoffs very soon, and that Stephenson will be a crucial part of that journey. His signing is an aggressive move that demonstrates an approach that modern expansion teams can take in the NHL. The Kraken were competitive far earlier than many expansion teams of the past, quickly making the playoffs and winning a round as well. Rather than building up slowly from the ground, they can now afford to take risks, particularly thanks to the rising salary cap, and hope that a blend of youth and highly-paid veterans results in team-wide success.