Nick Schmaltz’s monstrous start to the 2025-26 season almost didn’t happen. The Mammoth explored trading the pending unrestricted free agent over the offseason after their initial round of extension negotiations were unproductive, according to David Pagnotta of The Fourth Period.
The most complete trade that was discussed was with the Hurricanes around the draft and the beginning of free agency, Pagnotta writes, but those talks broke off once Carolina landed Nikolaj Ehlers in free agency. Schmaltz was involved enough in the process that the Mammoth asked him for a list of teams he’d be willing to sign an extension with if a trade went through, per Pagnotta.
Evidently, the 29-year-old didn’t let that uncertainty about his future affect his game. With an increasingly slim free agent class, he’s putting himself in position to be a top-five name on the market when it opens in July. He’s currently on an eight-game point streak and has rattled off seven goals and 10 assists for 17 points in 11 games to start the year. That’s tops on the Mammoth and tied for third in the NHL overall in both raw points and points per game. He’s done so while posting the best possession numbers and highest time on ice of any Utah forward at 19:39 per game.
Even keeping a fraction of this play up makes his current $5.85MM cap hit one of the best bargains in the league. Of course, he’s in the final year of his current contract: a seven-year, $40.95MM extension signed with Arizona in 2019. His hot start, plus the Mammoth’s early position tied atop the Western Conference, makes the thought of exploring a trade now inconceivable. The effect it has on any future extension negotiations remains to be seen, though.
Utah’s hot start, combined with a premier prospect pool still waiting to churn out multiple high-end names, may convince Schmaltz that sticking around is one of his best bets to play a key role on a championship-contending club, and he could be coerced into taking something of a discount to stay. Conversely, his playing such a large part in it drives up his market value dramatically as part of an ever-thinning UFA class.
From the Mammoth’s perspective, it might make the most sense to keep him as an in-house rental for the playoffs and not budge too much in contract talks. He’s been a key part of their top-six forward group for the life of his deal, dating back to his Arizona days, but he’s in the latter half of his prime, and the value proposition isn’t ideal by matching what he’ll now likely receive on the open market. With a trio of anticipated top-nine forwards in Daniil But, Caleb Desnoyers, and Tij Iginla still yet to graduate from their prospect pool and multiple core pieces signed longer-term, their long-term contention outlook isn’t affected much by his potential departure, either.