Z-conomics: Flyers learning cost of waiting on Zegras deal

Friday was Trevor Zegras' 25th birthday. He might be getting a belated gift from his employer sometime soon. 

Zegras, who is currently in the final year of a three-year, $17.25 million contract with a $5.75 million AAV that he originally signed with Anaheim, would be a restricted free agent after the season. 

The Flyers should not let him get to that point, and I'm hearing that if they have their druthers, they won't.

Although there have been denials from the Flyers front office that there is anything imminent on this front, the conversations between them and CAA, the agency representing Zegras, have been ongoing. Pat Brisson is Zegras' agent, but CAA usually has a team of folks working on contracts. 

(CAA also has offices in Los Angeles, where the Flyers just spent a few days, so, take that as you will.)

The question is, what would it take to sign Zegras to a new deal?

Trevor Zegras is UNFAIR in the shootout 😮‍💨🙌 pic.twitter.com/qeZ6jWbRV7

— Gino Hard (@GinoHard_) March 20, 2026

Back in November, I speculated that a deal for Zegras could fall between $7.5-$8.5 million AAV. 

I suggested the Flyers would be wise to negotiate it then, even though Zegras was on a heater. At the time, Zegras was almost exclusively playing on the wing, and the price seemed appropriate. 

They didn't, and now as the season winds down, even though Zegras hasn't been on the same torrid pace he was a few months ago, he still has 54 points (22 goals, 32 assists) and is on pace to set a career high in goals and points and possibly assists. 

But now he's doing it at a different position. 

Zegras has been playing center for the Flyers lately, and although he may eventually end up back on the wing, the Flyers are 8-2-1 in their last 11 games and playing a pretty good brand of hockey in March -- something we haven't seen in a while -- and are clinging to a longshot playoff hope (According to Moneypuck the Flyers have just an 8.7% chance of making the playoffs).

With Zegras playing in the middle, you can bet your life savings that his agency will deem that more valuable and push for more money because of it. 

Then there's the league-wide market. 

While not an identical situation, Nick Schmaltz recently signed an 8-year, $64 million contract to stay with the Utah Mammoth. 

Now, Schmaltz could have become an unrestricted free agent in the offseason, so that made it more paramount for Utah to get a deal done before the summer, and Schmaltz's camp maybe had a little leverage on money because of that. 

Still, Schmaltz is a similar point-producer to Zegras, and he's five years older, having recently turned 30. 

So, with Zegras being younger, he has to have better value than Schmaltz because there's likely even more upside, even if he would have only been an RFA and not an UFA. 

As such, it's almost a guarantee at this point the Flyers can no longer make an offer in the $8 million range. They likely now have to push it closer to $9 million, if not even a little above to get Zegras' team more engaged. 

Thus, the market is likely making the Flyers have to spend a little more than they hoped on Zegras, which is why they are more eager to get it done now, before the market pushes them even further. 

A W was the perfect early birthday present for Trevor. 🎁#PHIvsLAK | #LetsGoFlyers pic.twitter.com/DJ5ifXdN2G

— Philadelphia Flyers (@NHLFlyers) March 20, 2026

Not only that, the Flyers have other fish to fry. 

Jamie Drysdale is also in the final year of his 3-year, $6.9 million contract with a $2.3 million AAV that, like Zegras, was originally signed with the Ducks.

He, too, is a pending RFA. The Flyers would like to get him locked up as soon as possible as well. 

Drysdale could see a contract similar to what Cam York got last year (5 years, $25.75 million) although it wouldn't surprise if Drysdale got a little more term on his contract. 

With the cap ballooning each of the next three seasons, the Flyers would be thrilled to have York, Drysdale and Travis Sanheim locked up for several seasons at reasonable cap figures.

I could see both Zegras and Drysdale signed before the end of the regular season. The Zegras deal, if the Flyers get to that $9 million number, or close to it, could get done before the month is out.

Drysdale would then be sometime in April.

Both Zegras and Drysdale are going to be a big part for the Flyers future, so G.M. Danny Briere would be wise to get them both done as soon as possible, before the market pushes things any further in favor of either player. 

I get the sense he will.