The Buffalo Sabres and restricted free agent Peyton Krebs now have a deadline to reach an agreement on a contract extension before an arbitration hearing: Saturday, Aug. 1.
PuckPedia reported the hearing dates for all of the NHL's RFAs on Sunday night. If a deal isn't reached before the arbitration proceedings, the Sabres will have the option to choose between a one- or two-year contract for Krebs, with the arbitrator determining the monetary value.
The Canadian forward has mostly served as Buffalo's fourth-line center since arriving to Western New York in a 2021 blockbuster trade with the Vegas Golden Knights headlined by Jack Eichel.
Krebs was elevated to the Sabres' top line alongside Tage Thompson and Alex Tuch, another piece of the Eichel return package, for the latter stages of last season. It helped him establish a new career-best point total with 39 (12 goals and 27 assists) in 82 games.
Although it was a much-needed offensive step forward for the former WHL standout, he still doesn't make enough of a scoring impact to become a top-six fixture. Prior to 2025-26, he was one of the NHL's least useful forwards in terms of generating offense.
Buffalo's front office, led by general manager Jarmo Kekalainen, hasn't signaled its intentions, but a one-year extension makes the most sense. The club shouldn't invest in Krebs based on point production he achieved in a role he won't fill regularly moving forward, and the shorter contract means he'd remain a restricted free agent one last time next offseason. A two-year deal walks him straight to UFA status.
The Sabres also have a bit of a forward logjam at the moment — 15 players for 13 roster spots up front once Krebs is re-signed — so there's no reason to make too significant of a commitment to a depth contributor who may not be a long-term piece of the puzzle.
One way or another, Krebs and the organization will have a solution by no later than Aug. 1.
Peyton Krebs expressed interest in staying with the Buffalo Sabres, chasing a Stanley Cup title
The 2019 first-round draft pick didn't hesitate when discussing the future at his final press conference of the season.
"My daughter was born here. I got engaged here. This is definitely a home for my family and I, and I'd love to be a part of this team as long as I can," Krebs told reporters in May. "Obviously, the group of guys here are unbelievable and a lot of fun to be around. I think that's the biggest thing: Is it a fun environment to come to the rink? And that it is, for sure. I got to know my neighbors really well, and all the people out in Clarence where I live. It's definitely something I'm looking forward to, and I want to bring a Stanley Cup here."
Krebs is a terrific "glue guy." He plays a hardworking, high-energy style of hockey and he's always willing to stand up for his teammates, even if it means fighting somebody with a significant height and/or weight advantage compared to his 6-foot, 188-pound frame.
Those type of players are important, and head coach Lindy Ruff proved his confidence in the Alberta native with that promotion to the first line last season.
Yet, there's only so much salary-cap space to go around and the Sabres already signed one fourth-liner, winger Beck Malenstyn, to a six-year extension to play a limited role. Buffalo also has to maintain financial flexibility with Konsta Helenius, Noah Ostlund and Jiri Kulich among the young, more offensively gifted forwards who'll need new contracts in the coming years.
That's probably why the sides remain without an agreement a few weeks into free agency.
Krebs is aiming to capitalize on his jump in offensive production, and he'd probably love the long-term security given to Malenstyn. The Sabres have been dealing with more pressing matters, headlined by trading away Tuch and Bowen Byram along with trade discussions centered around Winnipeg Jets goalie Connor Hellebuyck.
As it stands, Buffalo has $8.7 million in cap space, per PuckPedia. So, there's a little work to do if the club wants to retain Krebs, acquire Hellebuyck and potentially sign future Hall of Fame winger Patrick Kane, a Buffalo native heavily linked to a homecoming in free agency.
So, while things have gone a little quiet lately for the Blue and Gold, it feels like Kekalainen still has some wheeling and dealing up his sleeve before the 2026-27 campaign gets underway.
Krebs' role for next season will be more clear once the dusts settles from the summer moves.
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