Navigating the salary cap is one of the more important tasks for any GM. Teams that can avert total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation heading into the 2020-21 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
Carolina Hurricanes
Current Cap Hit: $80,567,739 (under the $81.5MM Upper Limit)
Entry-Level Contracts
F Martin Necas (two years, $863K)
F Andrei Svechnikov (one year, $925K)
Potential Bonuses
Necas: $537.5K
Svechnikov: $2.65MM
Total: $3.1875MM
Svechnikov didn’t waste much time becoming an integral part of Carolina’s attack to the point where GM Don Waddell said one of his top priorities this offseason would be trying to sign the winger to an extension. It would come with a significant price tag as he’d undoubtedly be looking for $7MM or more on a long-term deal to sign now, even in this marketplace. It’s hard to see both sides hitting a number they like and accordingly, a bridge contract may be the end result, something Waddell has previously suggested. Necas was eased in much slower than Svechnikov (he became a regular in his third professional season with the first two sliding) and the patience the Hurricanes showed was certainly wise as he was a capable middle-six forward in his first full campaign. If he can emerge as a full-time option in their top six, he could be a candidate to bypass a bridge contract although what happens with other players on their current roster could force their hand.
One Year Remaining, Non-Entry-Level
F Ryan Dzingel ($3.375MM, UFA)
F Warren Foegele ($2.15MM, RFA)
D Dougie Hamilton ($5.75MM, UFA)
F Jordan Martinook ($2MM, UFA)
F Brock McGinn ($2.1MM, UFA)
G Petr Mrazek ($3.4MM, UFA)
G James Reimer ($3.125MM, UFA)
D Joakim Ryan ($700K, UFA)
Dzingel was brought in to be a capable secondary scorer and wound up signing what looked like a good value contract at the time. What a difference a year can make. He struggled to find his footing offensively and it got to the point where he started out the playoffs as a healthy scratch. With minimal roster turnover, he may not have a better opportunity this coming season so he appears to be a candidate that will be taking a sizable cut in pay. McGinn and Martinook are quality defensive forwards but consistent offense isn’t their calling card. These types of role players have been hit hard this offseason and it wouldn’t be surprising to see both of them have to take a dip as well to stick around. Foegele took a step forward in his production last season though his physical play took a step backwards. If he can bring that element back and maintain his output, he becomes the type of power forward that demand always outweighs supply and players like that often do well in arbitration which he’ll be eligible for.
Hamilton is the other big offseason priority that Waddell has frequently spoken about and for good reason. For years, he has shown flashes of dominance but the consistency wasn’t always there. Last season, it was and he appeared to be on his way towards a Norris-caliber season before a broken fibula ended his season prematurely and to make matters worse, a summer training injury stopped him from being ready for the start of the playoffs although he did eventually make it back. When he’s on, he has played like a number one defender and he’ll want to be paid like one to sign now. Alex Pietrangelo’s $8.8MM price tag is the new benchmark in this market and while Hamilton won’t be able to get quite that much, something around $1MM lower is achievable. Ryan logged more than 19 minutes a game in limited action with Los Angeles a year ago but is likely to be the seventh defender, a position that Carolina will likely look to keep as cheap as possible with some big-ticket contracts on the horizon.
The Hurricanes have faced plenty of questions with their choice to go with the tandem of Mrazek and Reimer instead of a more proven option but they received a decent performance from the pair a year ago and with the quality of their back end, not bringing in a high-priced starter makes some sense. Neither netminder has made a strong case for a big raise on their next contracts, nor are they facing a big hit in pay either. As a result, with Carolina’s financial structure, it seems quite possible that the two could be brought back a year from now at a similar price if they can’t land a more proven starter.
Two Years Remaining
D Haydn Fleury ($1.3MM, RFA)
F Nino Niederreiter ($5.25MM, UFA)
F Vincent Trocheck ($4.75MM, UFA)
Niederreiter was a great fit in his part season with Carolina after being acquired from Minnesota in 2019 but his first full year didn’t go as well. He’s a middle-six winger on this team and that’s a bit of a high price tag for someone in that role. However, as he showed after being traded, he is capable of reaching top-line production at times. Trocheck’s acquisition from Florida was largely surprising in that the cost to get him was low. He’s coming off of a couple of quieter years but if they want to continue to ease Necas in and have him on the wing Trocheck could slot in on the second line to start the season and would represent good value in that spot.
Fleury hasn’t quite lived up to his draft billing yet (seventh overall in 2014) but he spent all of last season with the Hurricanes, albeit in a limited role. However, when the playoffs came, he was a regular in the lineup. That helped earn him another short-term contract and if he can work his way into a full-time spot in the lineup, he’ll be in good shape for a small raise two years from now. Having said that, his earnings upside will be limited since he’s going to have a hard time moving any higher than third on the depth chart on the left side of their back end.
Three Years Remaining
F Jesper Fast ($2MM, UFA)
D Jake Gardiner ($4.05MM, UFA)
F Jordan Staal ($6MM, UFA)
Staal’s offensive production has dipped sharply the last couple of seasons to the point where he is best utilized as a checker in the bottom six. That puts his price tag on the high side and he’ll be hard-pressed to come close to that rate when he hits the open market at 35. Fast was one of the better bargains from this free agent class. He’s a good fit on the third line but can move up when needed and getting that for the price that they’re paying fourth liners was some nice work by Waddell.
Gardiner’s deal looked like a possible steal when he signed it last year but no one is calling it that now. He struggled considerably in the early going with the Hurricanes last season and didn’t put up his usual level of production to help offset some of his defensive struggles. The end result was him being on the third pairing and more or less right on the fringe of being a healthy scratch. This is a contract they’d undoubtedly like to move (which would open up a spot for promising youngster Jake Bean) but they’ll have quite a difficult time doing so.
Four Or More Years Remaining
F Sebastian Aho ($8.454MM through 2023-24)
D Brett Pesce ($4.025MM through 2023-24)
D Brady Skjei ($5.25MM through 2023-24)
D Jaccob Slavin ($5.3MM through 2024-25)
F Teuvo Teravainen ($5.4MM through 2023-24)
Aho’s contract will best be remembered for the fact it came through an offer sheet from Montreal, one that was heavily frontloaded and quickly matched. Assuming he continues on his current trajectory, the center will be entering free agency in the prime of his career at a time where revenues will hopefully have stabilized. As a result, his next contract should check in above this one. Teravainen has very quietly surpassed the 60-point mark in each of his last three seasons and has established himself as a fixture on their top line. This is certainly a below-market deal and he should be able to land a nice raise when it expires.
Slavin has been underrated for years now and while he’s getting plenty of attention, he’s still arguably underrated. He is a capable top-pairing defenseman making number three or four money. His offensive production continues to improve and he’s a strong shutdown player that goes up against top opponents regularly. This is a steal of a deal for Carolina. The same can be said for Pesce who is capable of logging big minutes in a shutdown role while making less than Gardiner whose role is much smaller. Skjei was decent in his brief stint with the Hurricanes after being acquired from the Rangers but his long-term fit is a bit more questionable, especially if they’re able to get Hamilton extended. At some point, they may have to move a high-priced option out and he could be the one. However, as a capable top-four option in his prime, they should have no troubles getting value for him.
Buyouts
F Patrick Marleau ($0 cap hit, $417K cash payable in 2020-21)
F Alexander Semin ($2.333MM in 2020-21)
Retained Salary Transactions
F Tomas Tatar ($500K in 2020-21)
Still To Sign
Best Value: Slavin
Worst Value: Gardiner
Looking Ahead
Despite having several good bargains on the books, Carolina will be tight to the cap ceiling for the upcoming season although they may be able to create a bit of wiggle room for an in-season move but, for the most part, this should be the roster they try to push for a playoff spot with.
Next offseason is certainly shaping up to be an interesting one for them, however. They already have $52.6MM in commitments to a dozen players and new deals for Svechnikov and Hamilton will take up a big chunk of that remaining money, as will re-signing or replacing their goalie tandem. To be able to afford to keep most of the core intact, they may have to part with one of their higher-priced veterans. Aside from that, there shouldn’t be many cap-related challenges on the horizon as long as they have the green light to spend to the Upper Limit of the salary cap each year.
Photo courtesy of USA Today Sports Images.
Canes aren’t retaining Tatar’s salary, you forgot to change it over from Vegas’ list.