Darren Dreger with an update on the Alex Formenton situation in Ottawa

With the Ottawa Senators failing to sign RFA forward Alex Formenton prior to yesterday's 5pm deadline, he officially became ineligible to play in the NHL this season.

Today, TSN insider Darren Dreger outlined a plan for both the player and the team to move on from each other this upcoming offseason.

"The best case scenario for both Alex Formenton and the Sens is that Formenton signs an offer-sheet this offseason, if it is less than $1M, there is no compensation going Ottawa's way, which is fine with them, they'd let Formenton go," Dreger said on TSN's Insider Trading segment today.

Dreger did mention though that Formenton needs to step up his play in the Swiss NL though, in order to generate NHL interest.

Read below for yesterday's report on Formenton.

Earlier today it was announced that Cal Foote had signed a contract with the AHL's Chicago Wolves. This news follows Carter Hart's contract signing with the Vegas Golden Knights, making Foote and Hart the only two of the five accused members of Team Canada's 2018 World to sign a pro contract in North America.

Dillon Dube and Michael McLeod both signed deals in the KHL, while Alex Formenton had signed in Switzerland. And today, the Ottawa Senators officially put an end to any North American plans that Formenton might have for the 2025-26 season. The Senators still own Formenton's rights, although he's an unsigned restricted free agent, and with the December 1st deadline to sign RFA's now come and gone, Formenton is ineligible to play in the NHL this season.

Alternatively, the Senators could have traded Formenton's rights to another team who could have then signed him prior to today's 5pm ET deadline. Again, that did not happen.

From Senators insider Bruce Garrioch:

Again, Hart is the only player from the five accused to have secured an NHL contract. He also happens the be the player with the most pedigree from that group and he plays the most in-demand position. To be frank, these other guys are a dime-a-dozen and are easily replaceable, so it's not surprising that their NHL careers haven't resumed, despite being found not-guilty.