Priority #1 sign Matty. Upside of his struggling sophomore season is his contract shouldn't balloon to where it might have got to, pegging him around 8x8 where his comparables have been signed recently.
Priority #2 secure Tolvanen. I've gone for what I think is the high side here with a 'Francis-standard' 5x5.
Priority #3 improve the D. Seattle's 3rd pair has been woeful so far this season. This roster is made when Evans has been called up but not yet played. Regardless of how many games he plays in 23/24 I think he sticks as a regular next season. He needs a strong steady D-man next to him and I think we should go pay Brett Pesce, a player Francis has history with having signed his ELC and the 6-year deal that's reaching conclusion now. The term may be where Seattle get beaten, I don't see Francis giving him more than 4 years, though the AAV may go higher than 6 to compensate, with savings coming from signing Eeli and/or Teuvo less than projected here. It'll likely be an overpay to address an area of dire need.
Priority #4 add a Top6 Winger. Looking at the players who might actually make it to UFA, and that Seattle would pay for, Teuvo sticks out. Francis traded for and signed him at Carolina. He's a responsible 2-way player with creativity and offense. And culture-wise the franchise has a cohort of Scandinavians that he would fit into. Again term could be the sticking point, but I don't see Francis committing to him beyond his 33rd birthday.
Having elevated Wright into a Top9 C permanently that just leaves a serviceable 4C to fill. Stenlund is quietly doing an impressive job in Florida, and ticks a lot of boxes; right-shot, big body, effective on PK, plays physical. He's been bouncing around on 1-year deals, so I think the security of a second year would put Seattle in the running.
If it's possible to trade Dumoulin at all, then they should, retain 50% to get it done, and free up some breathing space. Else put him in the minors, even with the buried cap hit that'd free $1M in cap space for someone else to sit on the bench, probably Cale Fleury again (unfortunately for him).
There is some wiggle room in the cap as Wright's bonuses could come out of 25/26 if there's no space at season's end to fit them in, however, Francis is known to prefer to pay for them in the current season, so looked to accommodate them.
Seattle has operated with a single scratch most of this season, despite injuries, and I can see the same next year hence not trying to fill a full 23-man roster.
It might not be the exciting splash fans might want, but it solidifies the back-end, replaces Eberle and Wennberg (at 5v5 and special teams), and prepares us for a solid season with Wright and Evans in full time. And all without giving up any assets, as the farm system continues to build and is showing promise with young wingers developing in the pipeline (Winterton, Rehkopf, Nyman, Firkus).