Today we'll continue our Eastern Edge offseason series by tackling the next quartet of teams in alphabetical order – those that punched their playoff tickets only to bow out in Round 1: the Montreal Canadiens, New Jersey Devils, Ottawa Senators and Tampa Bay Lightning. After dissecting the eight clubs that never made it to April, we now shift our focus to franchises still reeling from an early exit, each with its own offseason crossroads. Will Montreal double down on its youth movement or spend to sustain the Cinderella run? Can New Jersey turn a first‐round déjà vu into genuine depth? Will Ottawa parlay its long-awaited return into a sustained contender, and is Tampa Bay's window closing or simply shifting gears under a new cap reality? Let's dive into the big questions each team must answer to keep their 2025-26 hopes alive.

Montreal Canadiens – Continue the rebuild, or build on successes? 

The Canadiens were arguably a year ahead of schedule in 2024-25, riding breakout performances from a handful of their young stars to clinch a playoff spot in the waning days leading up to the end of the season. Cole Caufield led the team in goals, Nick Suzuki paced the attack as captain, and rookie defenseman Lane Hutson was staring down rookie defenseman records night in and night out. Goalie Sam Montembeault also held his own, posting a .901 save percentage and proving capable of handling a heavier workload. 

Hutson may be the catalyst for this whole renaissance. His 66 points in 82 games was good for 5th all-time in rookie defense scoring – for reference, Cale Makar's rookie season yielded a 0.87 points per game while Hutson's reached 0.8 with objectively less potent offensive support.

Montreal's underlying metrics suggest they may have overachieved. Their expected-goals share dipped down the stretch. The power play thrived with Hutson quarterbacking, but the penalty kill ranked in the bottom half of the league. This imbalance underscores a potential need for some veteran leadership and stability. 

General manager Kent Hughes now faces a classic build-or-buy dilemma. Do you leverage the momentum by trading draft capital or prospects for an established scorer or shutdown defenseman? Or do you continue channeling all available minutes to your youngsters – letting Juraj Slafkovsky's late-season sparks flourish and giving Hutson and Montembeault full reign over special teams? Any external addition risks capping emerging upside but staying patient could leave gaps exposed next spring.

From a fantasy perspective, an influx of veteran talent may compress opportunity for rising assets. If Montreal signs or trades for a scorer, Slafkovský's role could shrink, whereas Hutson would likely retain his power-play spot regardless. Montembeault could concede starts if the club targets an experienced netminder. Ultimately, the Canadiens must decide whether to accelerate their push now – potentially risking long-term depth – or trust the developmental trajectory that produced their Cinderella run.

New Jersey Devils – If we can't stay healthy, do we need reinforcements?

Despite a third-place Metro finish, the Devils once again fell to Carolina in five games. President and GM Tom Fitzgerald made it clear that merely qualifying for April hockey won't suffice: "We won't be coming back with the same group in 2025-26," he declared, warning that the current roster "wasn't good enough."

The Devils boast a core to envy: Jack Hughes, Nico Hischier, Jesper Bratt and Timo Meier – and this just scratches the surface. Depth scoring remains a glaring issue. Jack Hughes' season-ending shoulder surgery, the second of its kind, exposed how reliant New Jersey is on its top playmaker, but even so, Hughes still finished second on the team with 70 points in 62 games. Without him, secondary scoring dried up, leaving opponents able to concentrate on Hischier, Bratt, and Meier.

This offseason will likely center on acquiring a middle-six forward or two who can contribute 15–20 goals and hurt opposing penalty kills. Fitzgerald's suggestion that the roster will be overhauled hints at potential trades involving underperforming veterans or redundant pieces. A new winger could alleviate pressure on Hughes and Hischier but might also eat into ice time for emerging talents like Dawson Mercer and defenseman Simon Nemec – the latter of whom flashed clutch ability with a double-OT playoff winner and could vie for power-play minutes. The Devils are no stranger to major shake-ups in on-ice personnel.

Goaltending, a roller-coaster last decade, finally stabilized after the mid-2024 trade for Jacob Markstrom. The 35-year-old brought credibility alongside veteran Jake Allen, but his age suggests a short-term solution. The Devils may groom a younger netminder behind Markström or explore the market for a longer-term starter. Whoever starts 2025-26 in New Jersey will benefit from deeper blue-line puck movement, but the true test will be sustaining consistency through injuries.

For fantasy managers, monitor any new top-nine addition: a scoring winger could elevate Hughes and Hischier by creating space, or depress Mercer's value if he's bumped down the depth chart. Ultimately, New Jersey's offseason moves must transform flashes of brilliance into reliable support – cementing a foundation capable of deep playoff runs.

Ottawa Senators – What to change (or not change) now that the promises are being fulfilled?

After an eight-year hiatus, playoff hockey returned to Ottawa – snapping their drought with a wild-card berth and 97 points. Under first-year coach Travis Green, Tim Stutzle emerged as a point-per-game star, Brady Tkachuk notched his third straight 30-goal campaign, and rookie defenseman Jake Sanderson logged heavy minutes on the back end. Even 37-year-old Claude Giroux revived his career with 50 points, providing veteran leadership that gelled with Ottawa's youthful core.

Knocked out in six games by Toronto, the Sens nonetheless gained invaluable experience. At the trade deadline, GM Steve Staios shook the foundation – sending Josh Norris and a prospect to Buffalo for 24-year-old center Dylan Cozens. Cozens injected secondary scoring and speed, and his buy-in signaled Ottawa's unwillingness to settle for marginal improvement.

This summer, Ottawa faces key decisions to avoid "one-and-done" status. Giroux is a pending UFA who wants to stay; a one-year, $3–4 million extension seems prudent to preserve locker-room chemistry. On defense, the Sens could pursue a top-four blue liner to support Sanderson, and shore up a penalty kill that finished in the league's lower third. Up front, adding a proven winger would complement Stützle and Tkachuk, especially with Alex DeBrincat already gone last season.

Goaltending stability will also be tested. Linus Ullmark's injury threw a wrench in the momentum, but Leevi Merilainen stepped in admirably in a small sample size. Anton Forsberg could be the odd-man out in the upcoming 2025-26 season, and if Ullmark can put together a fully healthy season, and continue that into the postseason, the Senators could start to flirt with 'Contender' status. 

Fantasy managers should hold onto elite options – Stützle and Tkachuk remain first-or-second round locks. If Cozens adapts to a second-line role, he could deliver sleeper value. Keep an eye on Ridly Greig and Dylan Cozens; each could see increased power-play usage under Green's up-tempo system. The question for Ottawa is whether 2024-25 was a springboard or a mirage. With momentum on their side, this summer's moves will determine if the Senators become perennial contenders or slip back into mediocrity.

Tampa Bay Lightning – Run it back, or ramp it up?

For the first time in over a decade, early May in Tampa lacked the buzz of a playoff run. The Lightning's 2024-25 season was strong – 102 points and second in the Atlantic – but a first-round defeat by Florida marked three straight opening-round exits. Steven Stamkos and Mikhail Sergachev were missing from this season's Lightning core, and in the wake of their departure, GM Julien Brisebois signed Jake Guentzel and extended Victor Hedman for four years, appointing him captain and signaling that the 'new' core remains intact.

Offensively, Nikita Kucherov picked up the slack – defending his Art Ross crown with 121 points, while newcomer Jake Guentzel fit seamlessly alongside Brayden Point on the top line. Point, fresh off a 50-goal season in 2023-24, and Kucherov still form one of hockey's deadliest duos. Defensively, Hedman and Andrei Vasilevskiy continue to anchor their respective end, but depth has thinned under cap constraints.

Brisebois faces a classic cap-management puzzle: find quality support for his stars without sacrificing future flexibility. The bottom nine featured youngsters and bargain signings in 2024-25 – some shone (Anthony Cirelli, Brandon Hagel), others struggled (Conor Sheary). The Lightning may target a veteran two-way defenseman to solidify the third pair, or a cost-effective winger to bolster the second line behind the Point-Kucherov-Guentzel trio. Brisebois has never held his draft picks at a high value anyway. 

From a fantasy standpoint, Hagel's ascension makes him an early to mid-round target, especially if he retains top-six usage. Nicholas Paul, a recent career high in points, could see expanded roles on the power play. Any incoming winger lining up with Tampa's stars would carry sleeper appeal. In net, Andrei Vasilevskiy remains elite, and with Jonas Johansson recently extended for two years, the net seems solidified for the next couple of seasons.

Ultimately, Tampa's offseason must answer whether Father Time and the cap have finally caught up, or if the Bolts' 'next man up' culture can again manufacture depth. With Kucherov and Vasilevskiy still in their primes, the window isn't firmly closed – but Brisebois must engineer enough secondary support to propel this veteran core past Round 1.

Next week we will touch on the final four teams of the Eastern Conference, the recently ousted Toronto Maple Leafs and the Washington Capitals, as well as the two teams remaining in contention: The Florida Panthers and the Carolina Hurricanes. 

That's your Eastern Edge Eastern Conference update for the week. Stay tuned for updates on the next batch of teams who have exited the playoffs.

Thank you for reading, feel free to chirp me in the comments below or feel free to reach out on X – @FHFHockey. In the meantime, you can catch updates from me on the Five Hole Fantasy Hockey Podcast.