When NHL insider Darren Dreger speaks, the hockey world listens. But his recent report suggesting that Ottawa Senators restricted free agent Alex Formenton could be a prime candidate for an offer sheet next summer shouldn’t just be news—it should be a wake-up call for the fanbase regarding asset management.
The situation is messy. The 26-year-old forward is officially ineligible to play in the NHL for the remainder of the 2025-26 season because a contract wasn’t signed by the December 1st RFA deadline. Senators GM Steve Staios was clear back in September: the organization wanted a fresh start, and Formenton wouldn’t be returning to the club. Staios worked the phones, trying to find a trade partner willing to part with a mid-to-late round pick, but the market was silent.
Here is where my personal insight differs from the current strategy. It feels like Ottawa let a tangible asset wither on the vine.
The Missed Opportunity in Belleville
What should have Ottawa done before that December 1st deadline passed? In my opinion, management should have swallowed their pride and offered Formenton a two-way “show me” deal. The goal wouldn’t have been to bring him back to the Canadian Tire Centre, but to insert him into the lineup for the Belleville Senators.
The AHL is a showcase league. If you put a player with Formenton’s speed and NHL experience in Belleville, and he produces, the phone starts ringing. You force other GMs to watch him perform against their own farm teams. Suddenly, that “mid-round pick” asking price doesn’t seem like a gamble anymore; it looks like a bargain.
Instead, the Senators chose inaction. Now, Formenton is playing in Switzerland to stay in shape, far away from the eyes of North American scouts.
The real danger comes next summer. Because the Senators didn’t qualify or sign him, they are vulnerable. A rival team could swoop in on July 1st, 2026, with a cheap offer sheet. If that deal comes in at an AAV of $1.5 million or less, the Ottawa Senators will receive absolutely no compensation. Losing a player who was once a key part of the young core for nothing? That is a textbook definition of poor asset management.
Latest Ottawa Senators News & Updates
Looking to stay ahead of the game? Whether you need to know what channel is the Senators game on TV today, checking the NHL Point Leaders for the 2025-26 season, or just hunting for the latest trade buzz, make sure to add nhltraderumor.com to your bookmarks. We are your daily source for everything regarding the Ottawa Senators and Alex Formenton.
Don’t miss a beat—sign up for our newsletter below.
The post Alex Formenton Offer Sheet Rumors: Did the Senators Mismanage this Asset? appeared first on NHL Trade Rumors.
