We hear about cap hell every year and it never comes to pass. The panthers will find a way like every good team at the cap have found a way.
When you have good players, they can be traded. This isn't the habs giving almost 4 million to Armia. Reinhart, Bennett are still very tradable if the panthers are absolutely stuck.
The panthers dominated most of the year without Giroux. They don't really need to bring him back. The only player they really need to bring back next year is Marchment. Giroux, Acciari, Thornton, Hagg, Mamin, Chiarot, Hagg can all be replaced with prospects or cheap journeymen. The core of their team is still on contract next week.
They'll be fine.
Cap Hell doesn't exist to Take away your best players what it does is gut your depth, which this year it absolutely will for the Panthers
Forwards - 9 - $41M - Need 4 more (or minimum 3 for roster)
Reinhart (6.5), Barkov (10), Bennett (4.4), Hornqvist (3.5), Huberdeau (5.9), Duclair (3), Verhaege (4.1), Lundell (0.9) and Lomberg (0.8)
Of the above 7 are having career years I think it's safe to assume that Huberdeau, Duclair, Verhaege, bennett and reinhart will either not improve on this years production or slightly regress. Hornqvist is likely to severely downslide given his age and Lundell is the only one who is safe to continue progressing.
Defenseman - 5 - $19.4M - Need 2 more or minimum 1 for roster likely all will stay at this years level especially as 2 are approaching UFA
Goalie - 2 - $10.9M - Fine
Buyouts - $6.6M
total room $4.6M need minimum 4 Players
The Panthers were not some defensive juggernaut they we're and still are offense first like the caps of old, on defense they were 14th in the league on GA and are likely to either stay the same or get worse. From the forward core they are losing Marchment who had 49 pts in 54 games, Giroux and Jumbo as the biggest gaps. While I agree that Jumbo and Giroux aren't likely to be huge misses losing Marchment as well basically moves them from a three line team to a 2 line team. While on Defense there going to have a weak bottom and middle pair and in Goal they have Bob and knight, Bob has always been streaky and Knight is still Young. They have no reasonably young assets and no picks in the next three drafts to trade away to alleviate the cap pains and probably the best they can hope for is moving Hornqvist which gives them 8M for 5 players.
Now I think the above makes it hard to replicate what they did this year, We're talking about a team that defensively isn't super sound also losing offense, I'd say normally high teens to low 20's. However, I will say that part of my assumption is based on them being able to go deep this year. Consider this if the Panthers do make the Finals they'll be playing until Late June of this year, 8 Weeks later training camp for 22-23 begins. If they win that means 2-3 weeks to celebrate and 5 weeks to train or 8 weeks total to recuperate look what that did to us. Couple all of that with an improving Atlantic, (Toronto staying strong, Tampa Strong, Detroit Improving, Ottawa Improving, Buffalo Improving) with Boston being a wild card and Montreal being the only team expected to struggle it's not impossible to see a situation where the panthers finish in the 10-16th range to me.