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Archives for September 2024

Salary Cap Deep Dive: New York Rangers

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Navigating the salary cap is one of the most important tasks for a front office.  Teams that can avoid 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 often 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 2024-25 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 PuckPedia.  We’re currently covering the Metropolitan Division, next up is the Rangers.

New York Rangers

Current Cap Hit: $87,376,524 (below the $88MM Upper Limit)

Entry-Level Contracts

F William Cuylle (one year, $828K)
F Adam Edstrom (one year, $847K)
F Matt Rempe (one year, $820K)

Potential Bonuses
Cuylle: $57.5K (games played)

Cuylle’s first full NHL season was a solid one for someone who primarily played on the fourth line.  It’s unlikely that he’ll play much higher up this year and with New York’s long-term cap situation, it’s safe to say they’ll be looking for a bridge deal, one that should check in around the $1.4MM mark.  Edstrom is someone who could bounce back and forth this season and in that case, New York will probably ask him to accept closer to the $775K minimum in exchange for a one-way contract.  Rempe quickly became a fan favorite for his pugilistic skills but will need to be trusted to play more than six minutes a night if he’s to push for any sort of pricey second contract.  As things stand, he’s likely to land around $1MM on a bridge agreement if he stays up full-time in 2024-25.

Signed Through 2024-25, Non-Entry-Level

D Zachary Jones (813K, RFA)
F Kaapo Kakko ($2.4MM, RFA)
F Alexis Lafreniere ($2.325MM, RFA)
D Ryan Lindgren ($4.5MM, UFA)
D K’Andre Miller ($3.872MM, RFA)
G Jonathan Quick ($1.275MM, UFA)
D Chad Ruhwedel ($775K, UFA)
G Igor Shesterkin ($5.67MM, UFA)
F Reilly Smith ($3.75MM, UFA)*
F Jimmy Vesey ($800K, UFA)

*-Pittsburgh is retaining an additional $1.25MM of Smith’s contract.

Potential Bonuses
Quick: $25K (20 starts plus a save percentage of .915 or more)

Smith was acquired on the opening day of free agency as New York’s free agent plans seemingly didn’t pan out.  On the surface, they probably only wanted someone on a one-year deal so the pivot to this made sense.  Smith is coming off a down year with Pittsburgh but is only a year removed from a 56-point effort.  If he can get back to that, he could maintain his full $5MM salary for a few more years but the likelier scenario is something in the $4MM range.  Kakko accepted his qualifying offer early to take one more run at things in New York.  Until he can become more than a third liner, however, it’s hard to foresee him getting much more than this.  Vesey, meanwhile, had one of his best years last season and a repeat performance could allow him to potentially double his price tag but the Rangers will need to keep that salary slot closer to where it is now.

Lafreniere is one of the more intriguing pending restricted free agents from the 2025 class.  After struggling through his entry-level contract (resulting in this bridge deal), he was much more impactful last season, showing the skill that made him a top pick before following it up with a strong playoff run.  Still just 22, there’s cause for optimism that Lafreniere could still beat his numbers from a year ago which will only send the price tag up even more.  Assuming that he can at least maintain his 2023-24 output, Lafreniere’s next contract should push past the $6MM mark at a minimum; it wouldn’t be surprising to see it go to a seven.

Lindgren settled for a one-year deal earlier this summer, one that will grant him unrestricted free agency at 27.  However, his offensive numbers are rather limited; he has yet to reach the 20-point mark.  That should limit him on the open market although a small raise from this price tag could be doable.  Miller is another player who had to settle for a bridge deal given New York’s cap situation at the time.  He wasn’t quite as impactful statistically last season but still played top-pairing minutes, putting him on track for a fair-sized raise.  His qualifying offer checks in at $4.546MM, already a sizable jump but he could also command $6MM or more on a long-term agreement.

Jones hasn’t been able to lock down a full-time spot in the lineup which won’t help his case in contract talks.  His qualifying offer goes up to just over $866K next summer and if he’s not more established by then, he could be a non-tender candidate with an eye on filling that spot with someone making the minimum.  Ruhwedel has been a capable seventh defender for several years now but isn’t likely to make much more than the league minimum moving forward.

While Shesterkin is coming off a quieter year by his standards, he still was one of the top netminders in the league last season and has been for the past four seasons.  Accordingly, he is believed to be looking for what would be a record-breaking contract; Carey Price ($10.5MM) is the holder of the priciest deal given to a goalie in NHL history.  Doubling his current AAV could be doable in the process.  Quick had a bounce-back year after a tough 2022-23 showing, earning himself a small raise in the process.  With Shesterkin being more of a workhorse, they will only need Quick to play 25-30 games which he should be capable of doing.  Given his age (38), it’s fair to suggest he’ll be on one-year deals from here on out.

Signed Through 2025-26

F Jonny Brodzinski ($788K, UFA)
F Artemi Panarin ($11.643MM, UFA)
D Braden Schneider ($2.2MM, RFA)
D Jacob Trouba ($8MM, UFA)

Panarin set and still holds (for now, at least) the record for the highest cap hit for a winger.  It’s hard to say the contract has been a bargain but it’s fair to say he has lived up to it so far.  Panarin has the fourth-most points of any player over the past five seasons (since he signed in New York) so they’ve gotten a solid return so far.  That said, he’ll be entering his age-35 year when his next contract starts so it’s reasonable to think the cap hit will be coming down and it will be a question of how long the deal becomes with the longer the term, the lower the AAV.  Brodzinski started last season off strong in the minors to earn a recall and never went back, earning this contract in the process.  If he stays in a depth or reserve role, it’s unlikely he’d command a big raise but even securing more one-way deals at this point of his career (he’s 31) would be a nice outcome for him.

Trouba was shopped around over the summer although no trade came to fruition.  He’s on an expensive contract for the role he fills (a third defender) but he’s still a more than capable player in that role.  Still, even if he rebounds over the next two seasons, he’ll be looking at a multi-million dollar pay cut although a multi-year pact should still be doable.  Schneider was the latest player to take a bridge contract this summer.  He has been held under 16 minutes a game in each of his first three seasons; it’s safe to say they’ll be expecting him to take a step forward in that regard.  His qualifying offer checks in at $2.64MM with arbitration rights in 2026 so if he’s still on the third pairing by then, that could be a problem.

Signed Through 2026-27

F Sam Carrick ($1MM, UFA)
F Filip Chytil ($4.438MM, UFA)
F Chris Kreider ($6.5MM, UFA)

Kreider didn’t produce much in the first season of this contract but since then, he has 127 goals over the last three years, putting him seventh among all NHL players over that span.  Given his physical playing style, it’s possible that injuries could be an issue toward the end of the deal when he’ll be 36 and potentially going year to year after that.

Chytil has battled concussion issues at times, including missing most of last season which makes him a bit of a wild card.  This is a high price tag for someone projected to play on the third line although if he’s healthy, he should be more productive than a typical third liner.  But with the injury history, it’s hard to foresee him getting this type of commitment unless he has three seasons of good health.  Carrick came over in free agency to anchor the fourth line after a good showing between Anaheim and Edmonton last season.  If he can maintain that for the next three years, a late-career raise could come his way even though he’ll be 35 on his next contract.

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Snapshots: Swayman, Benn, Gelinas, Olympics

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Earlier today, Bruins president Cam Neely implied that the team had made a $64MM offer to restricted free agent goaltender Jeremy Swayman in an effort to get a deal done.  It would appear that this is the first that Swayman’s camp has heard of it.  SPM Sports released the following statement from Swayman’s agent Lewis Gross via various social media platforms:

Normally, I do not release statements or discuss negotiations through the media.  However, in this case, I feel I need to defend my client. At today’s press conference, $64 million was referenced. This was the first time that number was discussed in our negotiations. Prior to the press conference, no offer was made reaching that level.

We are extremely disappointed. This was not fair to Jeremy. We will take a few days to discuss where we go from here.

Earlier today, it was revealed that newly-acquired backup Joonas Korpisalo would be their opening-night starter.  Between that and now Swayman’s camp saying that they’ll take a few days to discuss next steps, it’s fair to say that this contract isn’t getting resolved for a little while longer.

Elsewhere around the hockey world:

  • The Stars won’t discuss a new contract in-season with captain Jamie Benn, relays Lia Assimakopoulos of the Dallas Morning News. Don’t interpret that as a sign that one of the sides doesn’t want to do something as GM Jim Nill indicated he approached Benn to see what he wanted to do while making it clear that he sees a spot for the veteran as long as he’s in charge.  However, Benn decided he wants to wait until after the season for any discussions.  The 35-year-old has spent his entire 15-year career in Dallas, amassing over 900 points including 60 in 82 games last season.
  • Veteran defenseman Eric Gelinas has decided to try to give it another go in North America. The AHL’s Laval Rocket announced (Twitter link) that they have invited the 33-year-old to their training camp.  Gelinas has 189 career NHL appearances under his belt, the last of which came in 2016-17.  He spent the following year in Laval before bouncing around, seeing time in Slovakia, Sweden, Switzerland, and nine games with AHL Chicago over the last six seasons.
  • The IIHF announced that they hope to add a three-on-three ice hockey tournament to the 2030 Olympics for both men’s and women’s hockey. These events would not replace the existing tournaments but would merely add to the sport’s representation, similar to three-on-three basketball at the recently-ended Summer Games.  A decision on whether those events will be added is expected in March.

Pacific Notes: Sharks Roster, Sharks Injuries, Karlsson

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The San Jose Sharks have collectively cut 12 players from their training camp roster today bringing their total bodies down to 38. In an earlier article, Curtis Pashelka of The Mercury News broke down some of the remaining camp battles on the roster with three games remaining in the preseason.

The organization’s forward core appears locked up with the remaining battles set to determine the 13th and 14th forwards on the opening night roster. Pashelka argues that forward Klim Kostin has already earned himself a spot for the regular season as the team would like to avoid putting him on waivers. The final spot remains a big question for San Jose. Will the team opt for an enforcer like Givani Smith to protect the youngsters when needed or look to add more available talent in Ethan Cardwell or Daniil Gushchin? Guschin likely has the inside edge if the team chooses the latter after scoring 20 goals and 54 points in 56 games for AHL San Jose last year.

The Sharks have a bigger question on defense with notable injuries to start the year (more on that later). Jack Thompson, acquired from the Tampa Bay Lightning and debuting last season, should be the odds-on-favorite for the seventh defenseman position by the end of training camp. Pashelka warns that even if Thompson represents the youngster with the most professional experience up to this point he still needs to play most nights rather than sit as a healthy scratch if he does make the roster.

Other Pacific notes:

  • Pashelka gave a few updates on the injured members of the Sharks’ defensive core earlier today. He shares that defensemen Marc-Edouard Vlasic and Shakir Mukhamadullin skated today and are still considered day-to-day. Still, their regular season opener availability is questionable. Circumstances appear to be different between the pipes with Pashelka also sharing that Yaroslav Askarov practiced with the team “for a little bit” today. Askarov has not practiced with the team once since the start of training camp a few weeks ago and his presence on the ice is a positive development.
  • Vegas Golden Knights center William Karlsson was not on the ice for practice again today and there appears to be a growing concern he may not be ready for opening night (X Link). It’s been over a week since he took the ice but the organization remains hopeful he will be healthy for the team’s regular-season opener on October 9th. Karlsson is set to be the second-line center for the Golden Knights this season although Nicolas Roy has been filling that void in the lineup for the last week.

East Notes: Bruins, Hillman, Jenkins, Howe

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The Boston Bruins are unsurprisingly being more aggressive with some extension candidates this summer with the ongoing contract negotiations between the organization and goaltender Jeremy Swayman likely dragging into the regular season. Ty Anderson of 98.5 The Sports Hub reported earlier this morning that Boston had already opened extension negotiations with forwards Brad Marchand, Morgan Geekie, and Trent Frederic.

There has seemingly been no movement with Swayman throughout the summer on a long-term contract leading the Bruins’ general manager Don Sweeney and the rest of the front office to take a more pragmatic approach for next summer. There was no word in the original report if any of the three players would be interested in continuing negotiations throughout the 2024-25 regular season. Still, Boston appears to be getting a head start on their asking price.

Marchand’s next contract will be one of the more interesting situations to see play out as he has arguably been playing on one of the biggest bargain contracts in the league over the last seven years. The Bruins signed Marchand to an eight-year, $49MM extension in 2016 and he’s scored 209 goals and 555 points in 495 regular season games over the life of that deal. Boston’s captain will be heading into his age 37 season on his next contract and it remains to be seen if Marchand will look for more salary with his prime years behind him.

Other East notes:

  • The New York Rangers added a bit of depth to their training camp roster earlier today by recalling Blake Hillman and Blade Jenkins from their AHL affiliate, the Hartford Wolf Pack (X Link). Both players are on AHL contracts for the 2024-25 season with the former being the only one with previous experience at the NHL level. Hillman has spent several years bouncing around the AHL but suited up in four games for the Chicago Blackhawks in the 2017-18 NHL while scoring one goal overall.
  • The WHL’s Regina Pats will be waiting with bated breath to determine the status of their captain, Tanner Howe. Howe, who was recently selected with the 46th overall pick of the 2024 NHL Draft by the Pittsburgh Penguins, was pulled from today’s game against the Moose Jaw Warriors by the team’s medical staff with an undisclosed injury. Howe’s already skated in two games in the young WHL season scoring one goal overall after participating in the Penguins’ rookie camp over the summer.

Canucks Release Sammy Blais

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The Canucks announced Monday that they’ve released winger Sammy Blais, who’d been in camp on a professional tryout.

Blais, 28, signed a minor league pact with AHL Abbotsford simultaneously with his PTO in Vancouver last month. He made it into three preseason games and went without a point, struggling away from the puck with a -3 rating and posting 2 PIMs.

Blais was essentially competing for a 13th or 14th forward role – with the Canucks signing Kiefer Sherwood and Daniel Sprong to bolster their bottom six, as well as with prospect Jonathan Lekkerimäki looking to crack the opening night roster, there wasn’t going to room for him to win an everyday spot on their fourth line. The Canucks will stick with in-house options for the extra forward role, though, likely center Nils Åman.

Blais spent the 2023-24 season with the Blues, who re-acquired him from the Rangers midway through 2022-23 in the Vladimir Tarasenko trade. He was a sixth-round pick by St. Louis back in 2014 and spent his first four NHL seasons there before being traded to New York in the summer of 2021 with a second-round pick for Pavel Buchnevich.

The 2019 Stanley Cup champ seemed to break out down the stretch after returning to the Blues in 2022-23, posting 20 points in 31 games, but he couldn’t replicate that output in 2023-24. The 6’2″ agitator struggled to stay in the Blues’ lineup last season, averaging 9:41 across 53 contests and scoring just one goal and six assists for seven points with a -11 rating.

He’s squarely a net negative possession player at even strength throughout his career, too, and with career averages of nine goals and 24 points per 82 games, there’s little to suggest he’s capable of anything more than fourth-line duties for a sustained period in the NHL. For the first time since 2017, he’ll need to start in the minors and work his way up. The Canucks (or any team) could still sign Blais to a two-way deal after the season gets underway if he has a strong start in Abbotsford.

Waiver Wire: 9/30/24

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Another 12 players have hit the waiver wire today as part of training camp cuts across the league, Elliotte Friedman of Sportsnet reports. All of the 25 players on waivers yesterday cleared without incident, he adds.

Colorado Avalanche

D Jacob MacDonald

Edmonton Oilers

D Connor Carrick
D Cam Dineen

Los Angeles Kings

F Jeff Malott

Minnesota Wild

F Travis Boyd
F Brendan Gaunce
F Devin Shore

San Jose Sharks

F Justin Bailey
D Jimmy Schuldt

St. Louis Blues

F Nikita Alexandrov

Utah Hockey Club

F Travis Barron
D Kevin Connauton

Oilers Release Mike Hoffman From PTO

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The Oilers have released winger Mike Hoffman from his professional tryout, the team said Monday.

It’s a tad surprising given the 34-year-old’s numbers in exhibition play. Hoffman skated in four of the Oilers’ five preseason contests thus far, posting a goal and three assists for a point per game. He did, however, post a -2 rating and managed only four shots on goal. It was always going to be an uphill battle for Hoffman to make the Oilers roster anyway, with plenty of veteran scoring depth pieces on the wings, although there was a small opening with Evander Kane set to miss most of the season after undergoing surgery.

If there was a one-way deal out there for Hoffman, he likely would have landed it already with just over a week to go until opening night. There should be a fair amount of interest in his services on a two-way deal or an AHL contract, though, and signing in Europe remains an option.

The 13-year veteran has averaged 25 goals and 54 points per 82 games throughout his NHL career. His production dipped significantly last year on the league-worst Sharks, though, limited to 10 goals and 23 points in 66 contests. San Jose, which took on the final year of his three-year, $4.5MM AAV contract from the Canadiens as part of last summer’s Erik Karlsson three-team blockbuster, opted not to bring him back and let him become an unrestricted free agent.

While a spot on an NHL opening night roster looks unlikely, he’s a sensible target for teams looking for AHL scoring depth if he’s open to playing in the minors. He hasn’t seen AHL ice since working his way up the professional ladder in the Senators organization, captaining their AHL affiliate in Binghamton during the 2013-14 campaign.

The Oilers’ wings on their top two lines are seemingly a lock, with Zach Hyman and Ryan Nugent-Hopkins flanking Connor McDavid and Viktor Arvidsson and Jeff Skinner with Leon Draisaitl. Their bottom six will likely feature Connor Brown, Mattias Janmark, Corey Perry, and Vasily Podkolzin on the wings in some capacity, although 24-year-old Raphael Lavoie remains on the training camp roster and is gunning for a roster spot to avoid waivers.

Panthers Release Matt Luff From PTO

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The Panthers have released forward Matt Luff from his professional tryout, head coach Paul Maurice told Pucks and Palms’ Colby Guy on Monday. Luff wasn’t announced as part of a group of Florida roster cuts earlier today but is nonetheless off the training camp roster.

Luff was offered a tryout with the Panthers’ AHL affiliate, the Charlotte Checkers, which Maurice “believed” he accepted. That means his days within the Panthers organization may not be done yet if he can land an AHL contract.

The 27-year-old has 106 NHL games under his belt but didn’t see the majors last season. He spent an injury-plagued 2023-24 on assignment to the AHL’s Grand Rapids Griffins while on a two-way deal with the Red Wings, recording 10 goals and eight assists in 26 games.

Luff has been a serviceable fourth-liner when given chances in the NHL, but he’s never established himself as a full-timer. He’s suited up for the Kings and Predators in addition to his time in Detroit, posting 15 goals and 12 assists for 27 career NHL points with a -12 rating while averaging 10:19 per game. The Ontario native was an undrafted free agent signing by Los Angeles out of the OHL’s Hamilton Bulldogs in 2016.

He was in contention to earn a two-way deal with the Panthers and serve as a potential mid-season call-up option, but for now, he’ll have to prove he’s still got game on a potential AHL deal. The fact he doesn’t have a guaranteed contract yet is surprising – he’s consistently hovered around a point per game in the minors over the past few years and would be a legitimately impactful addition to the Checkers roster.

Rangers’ Jimmy Vesey Out Multiple Weeks With Lower-Body Injury

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Rangers winger Jimmy Vesey will miss “a few weeks” with a lower-body injury, head coach Peter Laviolette said Monday (via The Athletic’s Peter Baugh). The 31-year-old will be unavailable for the Rangers’ first few regular season games as a result.

It’s a course reversal from Sunday when Laviolette said he wasn’t concerned about Vesey’s injury and didn’t expect him to miss any significant time. The Boston native sustained the LBI during a practice session yesterday.

Vesey has been a fourth-line fixture for the Rangers over the past two seasons, his second stint in the Big Apple after spending his first three NHL seasons there from 2016 to 2019. The Harvard product opted to test free agency upon graduation instead of signing with the Predators, who drafted him in the third round in 2012.

He played 80 games for the Rangers last year, finishing ninth on the team in scoring with 26 points (13 G, 13 A) in 80 games. Averaging 12:23 per game, he posted far superior possession metrics at even strength than frequent linemate Barclay Goodrow and was deployed as a depth penalty killer.

His absence means the Rangers will need to find another name to serve as their fourth-line left wing on opening night. Line rushes in camp indicated Vesey was likely to skate alongside Sam Carrick and Jonny Brodzinski. Matt Rempe is the most likely name to slide into the lineup after immediately establishing himself as a fan-favorite enforcer in his 17-game NHL debut last year, although either he or Brodzinski would need to play on their off-wing. Natural left-wingers available include 6’7″ 23-year-old Adam Edstrom and camp invite Adam Erne, who’s still competing for a deal after inking a PTO earlier this month.

Bruins Have Offered Jeremy Swayman $64MM Contract

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The Bruins have offered RFA netminder Jeremy Swayman a contract totaling $64MM in value, team president Cam Neely told reporters Monday (via 98.5 The Sports Hub’s Ty Anderson). He didn’t confirm the length of the agreement, but it’s fair to assume he was referring to an eight-year deal with an $8MM cap hit.

“I’d have 64 million reasons why I’d be playing right now,” Neely said in regard to Swayman’s continued absence. He added that Swayman had “flat out” told the club he wanted to remain in Boston, which aligns with a report from The Athletic’s Fluto Shinzawa earlier Monday.

For now, all signs point to Swayman remaining unsigned when the Bruins turn in their opening night roster next week. General manager Don Sweeney said it’s “unlikely” Swayman will be ready to go for their regular-season opener, with head coach Jim Montgomery confirming that Joonas Korpisalo is slated to be their starter against the Panthers on Oct. 8 after a strong camp showing (per The Boston Globe’s Conor Ryan).

Swayman, 27, has been vocal this summer about his desire to set a bar for future goalie contracts after being handed a one-year, $3.475MM contract in arbitration in the summer of 2023. He’s had impeccable career numbers – a .919 regular-season SV% and a .922 playoff SV% – but has never started more than 45 games in a season.

He and Linus Ullmark, who the Bruins traded to the Senators at the beginning of the summer to give Swayman the undisputed starter’s crease, have been the backbone of Boston’s success over the past couple of seasons. Their importance was especially evident last year, posting a combined .915 SV% to keep the Bruins afloat in the Atlantic Division despite owning subpar 5-on-5 possession metrics across the board.

If he remains unsigned for a significant chunk of the season, it puts Boston in a tricky spot with Korpisalo. While the team is projecting confidence after a strong preseason showing, the 30-year-old is coming off a disastrous 2023-24 campaign with Ottawa that saw him post a .890 SV% and 3.27 GAA in 50 appearances. The difference in play over the first two months of the year could be enough to cost the Bruins a playoff spot in a competitive Atlantic field. Swayman has until Dec. 1 to sign a contract to be eligible to play this season.

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