EDM-NYI Trade (based on https://www.capfriendly.com/armchair-gm/team/2490393)
Pretty simple trade. Oilers get a starting goalie at a reasonable contract in Semyon Varlamov, and a project LW to fill in a position where they have a lack of depth in Michael Dal Colle. Isles get cap space, a 2nd round pick, and a decent young player in Tyler Benson, and a serviceable backup in Alex Stalock. This also gives NYI the opportunity to give Sorokin the starting job.
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Expansion Draft: Seattle claims Jordan Eberle
This Expansion Draft will have more defense and fewer forward options than when Vegas was choosing players. By choosing Jordan Eberle, who will have three years left on his contract, gives them a veteran scorer and leader. This gives the Islanders some cap space, and the opportunity to put Wahlstrom with Barzal.
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CHI-NYI Trade
Chicago acquires Andrew Ladd, a familiar veteran leader who I'm sure would love to play a regular shift again. Chicago gains ~$1M in cap space and an extra year at $5.5M, but as a reward they get two 2nd round picks. Chicago also gets more room on the left side of their defense to bring up younger kids. The Islanders get back Calvin deHaan, a top-4 defensive LHD who would fit very well with Dobson.
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CGY-NYI Trade
If the rumors of Matt Tkachuk wanting out are true, Isles should be all over this. Matt Tkachuk can be our answer to Tom Wilson, the Penguins, and the Lightning. He'd give us an all-around physical scorer who would fit great with Mat Barzal. The Flames get a top-4 LHD in Nick Leddy, a project goal-scoring LW prospect in Kieffer Bellows, a big project RHD prospect in Bode Wilde, and a 2022 1st round pick.
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RFA
Anthony Beauvillier (4 years, $4.1M/year) - Beau takes the same contract Devon Toews got with Colorado.
Adam Pelech (6 years, $4.6M/year) - Pelech takes a similar deal to other young two-way LHDs (Chychrun, Pettersson, Gostisbehere, Marino).
Ilya Sorokin (2 years, $4M/year) - Sorokin takes a deal similar to Elvis Merzlikins, taking him to free agency with the high chance of a big-time raise when his deal expires.
UFA
Casey Cizikas (3 years, $2.25M/year) - Cizikas comes back to NYI and continues to center the Identity Line. He can get more on the open market, but after what happened to Matt Martin, I doubt he'd want to go anywhere else if he's given the opportunity to stay.
Kyle Palmieri (1 year, $3.25M) - Palmieri decides to wait for the cap to raise in 2022-23 and takes a one-year deal at a decent discount to play for the Islanders again.
Alex Goligoski (1 year, $1M) - Goligoski takes a cheap deal to play for a veteran cup Contender, where he can take over Leddy's position.
Isles also buy out Thomas Hickey, saving ~$1.7M on the cap.
Tkachuk is a top 10 winger in the league, that’s not even close to what he would cost.
Palmieri is either going to cash in this season (5 year deal) or sign a 1 year deal with a team that can boost his numbers. That isn’t the isles. Also think cizikas gets 3.5 mill to be a 3C somewhere