Red Light newsletter 🏒 | This is The Athletic’s hockey newsletter. Sign up here to receive Red Light directly in your inbox.Fun fact: It may be the “middle of the summer” for many, but for us here at Red Light, our calendar reads, “Only 55 days until NHL training camps open.” And, hey, we even have some news to discuss.Which teams could still make a big move?ICYMI: Jason Robertson and the Dallas Stars ended their contract stalemate on Tuesday night with a one-year, $12 million deal. We have some analysis of the signing here and here.The Robertson saga was yet another example of a restricted free agent cashing in, as that marks the largest one-year deal in NHL history. It also wiped out all of the Stars’ remaining cap flexibility, moving them $1.36 million over the $104 million ceiling according to PuckPedia. Only the Golden Knights and Maple Leafs are tighter, and both those clubs have obvious long-term injured reserve candidates who can get them under.So don’t count on the Stars to make any more offseason fireworks the rest of the way.Could someone else? Absolutely. Nine teams still have $10 million-plus in cap room to spend, and that’s not going to all be eaten up by the remaining RFAs. And almost every team in the NHL is going to be trying to make the playoffs next season, with only Calgary and Vancouver standing out as obvious lottery pick chasers.Eliminating the Flames and Canucks, who plausibly will be well under the cap all year, here’s our quick look at the remaining five clubs with the most cap flexibility, what they might spend it on, and if they might be able to take a big swing.1. Detroit Red Wings, $20 millionAll that cap space, plus an $8.7 million captain who wants out and a GM search that’s just underway. There’s clearly a lot going on with the struggling Red Wings, who are trying to avoid an 11th straight postseason whiff.Other than dealing with the Dylan Larkin situation, RFA Simon Edvinsson needs a contract, and he’s offer-sheet eligible. I’m a big fan of the big man’s game; might a team throw Detroit into further chaos by throwing a huge bag o’ bills his way?The bigger intriguing question for Detroit is what should be the plan here? Is there a world where they can turn all this extra cap room into being competitive right away? Or are they better off building around their young players — led by Moritz Seider and Lucas Raymond — and eating some more short-term pain in 2026-27? Probably?Regardless, whoever takes over for Steve Yzerman has a difficult challenge ahead here. And more financial flexibility than almost anyone.2. Seattle Kraken, $18 millionThe Kraken have tried to be agents of chaos, making massive offers to both Artemi Panarin and Robertson in the past few months. Still not a free agent destination, Seattle is now sitting on a pile of cash and no one to spend it on.