If the Coyotes re-signed everybody they were keen on re-signing to fair-value contracts, this team would only be at around $50M in spending, and they'd need at least an additional $10M to clear the cap floor.
How would they do it? The same way they did it last summer: weaponize cap space, go to teams that are *way* above the cap ceiling, and extort them for their lunch money—I mean, obtain valuable assets in exchange for taking on contracts with negative trade value.
The Lightning are already stupidly over the cap ceiling, and they have to handle Brayden Point's extension next year. Ondrej Pálat's walking in free agency, for sure, and they would definitely love to not be using LTIR, so Brent Seabrook's contract seems like an ideal contract to dump. The Coyotes will definitely be looking for some type of decent forward prospect, especially at center, so I had them acquiring Gage Goncalves, but Jack Finley would also fit the bill (though, given that the Lightning traded up to draft Finley, they probably wouldn't be looking to trade him). I would also believe it if they picked up Gabriel Fortier instead.
The Blackhawks *also* really badly need to get under the cap. Seth Jones and Connor Murphy's extensions kick in next year, and, although Marc-André Fleury and Calvin de Haan walking in free agency would clear up *some* room, it wouldn't cover the extensions that Dominik Kubalík, Dylan Strome, and Kirby Dach need. I think that Tyler Johnson's contract is still seen as kind of a boat anchor, and that would probably be the easiest way to clear up any sort of cap space. Of course, Johnson would have to agree to put the Coyotes on his 20-team trade list, but the Coyotes for sure need somebody with any sort of talent to play at center (plus, he's right-handed, and teams love them their right-handed centers).
And, just for kicks and why not, I wouldn't be surprised if the Coyotes take Ben Bishop's contract off of the Stars' hands, as well, for a nominal fee.