The Vegas Golden Knights are spending their final days before the 4-Nations Face-Off break by jumping through salary cap hoops. They’ve announced a litany of roster moves intended to maximize their cap space accrued from long-term injured reserve, all captured by PuckPedia. Vegas first recalled winger Alexander Holtz and goaltender Akira Schmid, then reassigned center Raphael Lavoie. Those moves placed them $135K under the cap ceiling. Vegas then placed top center William Karlsson on long-term injured reserve and recalled forward Jonas Rondbjerg, which they wouldn’t have been able to afford without shelving Karlsson. By recalling two players and getting as close to the cap ceiling as they could before moving Karlsson, Vegas maximized the amount of LTIR cap relief they were provided. They now sit with $5.133MM in available cap space, but will be one contract’s worth of cap over the limit when Karlsson is back to full health.
The string of moves were a great exercise in how to leverage the NHL’s LTIR policies, but Vegas will still be worse for wear without Karlsson. The 32-year-old centerman hasn’t played since January 20th, when he sustained a lower-body injury against the St. Louis Blues. He was immediately ruled out week-to-week, and the team still didn’t have a clear timeline for his return 10 days later. An LTIR placement will now force him out of the lineup through at least February 24th, the second game after Vegas returns from break.
Karlsson has continued to serve as a top center for the Golden Knights, but his season has been filled with abnormal scoring struggles. He has just 18 points in 38 games on the year, and was amidst a seven-game scoring slump prior to his injury. Karlsson has one assist in 10 games since the start of 2025. He’s still provided strong performances for the Golden Knights away from the scoresheet. He currently sits with a fantastic 58.9 percent faceoff win-rate that ranks Karlsson fifth among all NHL centers. Karlsson has also recorded 89 shots on goal and a plus-seven, respectively ranking him third and fifth among the team’s forwards.
Those numbers represent an impact that’ll be hard for Vegas to replace. Their flurry of moves leaves the task of filling in up to Rondbjerg and Holtz. The latter has far-and-away been the more popular fixture of Vegas’ lineup. Holtz has scored 11 points in 49 games this season, while Rondbjerg hasn’t yet scored through 10 appearances. The duo should both earn ice-time on Vegas’ left wing while the team deals with absences to Karlsson, Lavoie, Cole Schwindt, and Tanner Pearson.