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Trade Deadline Primer: Ottawa Senators

February 23, 2024 at 7:00 pm CDT | by Brian La Rose 5 Comments

With the All-Star break in the rearview, the trade deadline looms large and is now just two weeks away. Where does each team stand, and what moves should they be looking to make? We continue our look around the league with the Ottawa Senators.

This season has not gone according to plan for the Sens.  A popular pick to push for a playoff spot, they have instead languished for most of the year and find themselves at the basement of the Atlantic Division even after a coaching and GM change.  Despite that, there is still a capable young core to try to build around so GM Steve Staios might not necessarily operate as a true seller in his first trade deadline at the helm.

Record

24-27-3, 8th in the Atlantic

Deadline Status

Seller and Light Buyer

Deadline Cap Space

$109.9K on deadline day, 1/3 retention slots used, 47/50 contracts used, per CapFriendly.

Upcoming Draft Picks

2024: BOS/DET 1st* OTT 1st^, OTT 2nd, DET 4th, OTT 4th, TB 4th, OTT 5th, OTT 6th
2025: OTT 1st^, OTT 2nd, OTT 3rd, OTT 4th, OTT 5th, OTT 6th, OTT 7th

*-Ottawa will receive the lowest of Boston and Detroit’s first-round picks as part of the Alex DeBrincat trade.

^-Ottawa must forfeit its own first-round pick in either 2024, 2025, or 2026 as punishment for failure to disclose Evgenii Dadonov’s no-trade list in a voided 2022 trade.

Trade Chips

From the moment that they signed Vladimir Tarasenko to a one-year, $5MM contract, speculation began regarding a possible trade if Ottawa found itself out of the playoff race as it clearly is.  After being one of the prizes of the deadline a year ago, he could be a key pickup again for someone this time around as he has 37 points in 52 games so far.  However, he does have a full no-move clause so he can control where he goes and he has recently changed agents.  The Sens are believed to value his off-ice contributions with their young core group so it’s not a guarantee that he moves.  If he does, Ottawa will likely need to retain the maximum 50% of his contract to maximize their return, one that should get them a fairly high draft pick.

The Senators added Dominik Kubalik from Detroit as part of the DeBrincat trade but he has struggled.  After putting up 20 goals and 45 points last season, he has been limited to just nine tallies and a dozen points overall.  At a $2.5MM price tag, the Sens likely won’t be able to get much for him but he could be a buy-low candidate with a bit of upside for a team looking for depth.

On the non-rental side, Jakob Chychrun’s name has come up in plenty of speculation as well.  The Senators have made it clear that they’re not shopping him but with the 25-year-old having another year of team control at an affordable $4.6MM, they’re going to get plenty of calls.  Chychrun has 30 points so far, the second-most of his career while he’s averaging nearly 23 minutes a night.  If a team strikes out on landing Calgary’s Noah Hanifin, Chychrun could very well be a fallback plan although the price to get him should be high; it’s not out of the realm of possibility that they match the return they gave up for him a year ago (a first-round pick and two second-rounders).

Another non-rental option is blueliner Erik Brannstrom.  While he’s on an expiring contract, he’s controllable through restricted free agency through the 2026-27 campaign.  An offensive defenseman at the lower levels, Brannstrom has failed to make a significant impact on that front, notching just 12 in 48 games so far while he’s averaging just 15:43 per game.  Owed a $2MM qualifying offer, it feels like he’s trending toward non-tender territory if he stays in Ottawa so he’d be a potential buy-low candidate if a team wants to take an early look to see if he’d fit better in another system.

Other Potential Trade Chips: F Mathieu Joseph, F Mark Kastelic, F Jiri Smejkal, D Lassi Thomson

Team Needs

1) Cap Space – If Ottawa wants to try to add a piece, they need to free up cap room.  If they need to call up a player for the stretch run, they need cap room.  Basically, the Sens need to move out someone first to give themselves some much-needed flexibility before they can attempt to do much of anything else.

2) Veteran Leadership – This has been a long-reported goal since Staios took over for former GM Pierre Dorion.  While the Senators have some veterans including Claude Giroux and Travis Hamonic, this is still a fairly young core for the most part.  They believe that bringing in the right veteran piece or two could help this team take a step forward.  They’re known to have interest in Chris Tanev as the type of veteran addition they want for the back end but that would make more sense for an offseason move than an in-season one.  But if they can find a bottom-six forward that fits the bill, it wouldn’t be shocking to see them try to add that piece now.

Photo courtesy of USA Today Sports Images.

Deadline Primer 2024| Ottawa Senators| Pro Hockey Rumors Originals

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Snapshots: Maple Leafs, Dowd, Harris, Broberg

February 20, 2024 at 9:00 pm CDT | by Brian La Rose 7 Comments

The Maple Leafs have shown interest in Sharks defenseman Mario Ferraro and forward Luke Kunin, reports The Fourth Period’s David Pagnotta.  It’s believed that Toronto doesn’t want to part with a first-round pick for a rental but Ferraro has two years left on his contract at a $3.25MM cap charge while Kunin is controllable for one more year if he’s tendered a $3MM qualifying offer.  Ferraro is logging nearly 23 minutes a night on San Jose’s back end and would certainly give Toronto a boost in their top four while Kunin has struggled offensively, scoring just eight times in 50 games so far.  With Toronto’s interest, it’s worth noting that cap space is quite tight at the moment and as things stand, they can’t afford the full contract of one of those players let alone both.

Elsewhere around the NHL:

  • The Capitals announced (Twitter link) that center Nic Dowd suffered an upper-body injury in tonight’s game against New Jersey. The 33-year-old has become a reliable bottom-six middleman in recent years and has 16 points through 45 games while taking the second-most faceoffs on the team.  Signed for another year at a $1.3MM price tag, Dowd has been a speculative trade candidate in a center market that is quite thin now.
  • Canadiens defenseman Jordan Harris has been cleared to return, notes RDS’ Luc Gelinas (Twitter link). The blueliner also confirmed that the upper-body injury he was dealing with was a concussion, the second of his career.  Harris has played in 31 games so far this season, picking up a goal and five assists while averaging a little over 17 minutes a night.
  • One of Edmonton’s possible trade chips is defenseman Philip Broberg. However, the blueliner hasn’t played in the last ten days and it appears as if he’ll be out for a little while longer as Ryan Holt, the broadcaster for their AHL affiliate, relays (Twitter link) that Broberg’s injury appears to be more of a week-to-week case.  The 22-year-old is in the final year of his entry-level deal and has 19 points in 29 games with the Condors but has been held off the scoresheet in ten games with the Oilers this season.

Edmonton Oilers| Montreal Canadiens| San Jose Sharks| Snapshots| Toronto Maple Leafs| Washington Capitals Jordan Harris| Luke Kunin| Mario Ferraro| Nic Dowd| Philip Broberg

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Minor Transactions: 2/20/24

February 20, 2024 at 8:01 pm CDT | by Brian La Rose 1 Comment

While we wait for the trade market to pick up with the deadline now less than three weeks away, there still have been plenty of transactions but largely of the minor variety.  Here’s a rundown of some recent moves with NHL ties.

  • Logan Stankoven’s NHL debut will have to wait. After being recalled earlier today for precautionary reasons, the Stars announced (Twitter link) that the 20-year-old was returned to AHL Texas.  Stankoven has been dominant in his first professional campaign, notching 24 goals and 33 assists in 46 games to lead the AHL in scoring.
  • The Golden Knights announced (Twitter link) that they’ve re-assigned center Byron Froese to AHL Henderson. The 32-year-old played in two games with Vegas on this latest recall, bringing his season total to nine although he’s still looking for his first point.  Froese has 15 points in 37 games so far with the Silver Knights.
  • Artem Anisimov’s time in the Rangers organization has come to an end as he was released from his PTO with AHL Hartford, per a team release. The 35-year-old joined the Wolf Pack early last month and got into 18 games but managed just a goal and three assists.  A veteran of 771 career NHL games, it looks unlikely that Anisimov will be adding to that total.
  • A trio of former NHL players are sticking around in Switzerland as Fribourg-Gotteron of the NL recently announced that forwards Lucas Wallmark, Marcus Sorensen, and Jacob de La Rose have all signed two-year extensions through the 2026-27 season. Each player last saw time at the NHL level back in the 2020-21 campaign with de la Rose having the most experience, suiting up in 242 games between Montreal, Detroit, and St. Louis.

AHL| Dallas Stars| New York Rangers| Transactions| Vegas Golden Knights Artem Anisimov| Byron Froese| Jacob de la Rose| Logan Stankoven| Lucas Wallmark| Marcus Sorensen

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Morgan Rielly’s Suspension Affirmed By NHL Commissioner Gary Bettman

February 20, 2024 at 7:00 pm CDT | by Brian La Rose 12 Comments

With the fifth and final game of Morgan Rielly’s suspension being set to be served on Wednesday, NHL Commissioner Gary Bettman was going to need to get his ruling on Rielly’s appeal made quickly.  That decision has now been made with the league announcing that Bettman has affirmed the five-game ban and that no change will be coming.

The NHLPA filed the appeal last week on Rielly’s behalf.  According to the notes in Bettman’s ruling, they argued that the principal point of contact being the body, Rielly’s history of no supplemental discipline, and that Senators forward Ridly Greig wasn’t injured on the play were reasons to reduce the suspension.  Bettman acknowledged that Rielly’s clean history and the lack of injury were already factored into the decision, suggesting that had this not been the case, the suspension almost certainly would have been considerably longer.

Meanwhile, the Maple Leafs argued that Greig’s actions (slapping the puck into the empty net in the dying seconds of the game) were provocative, an argument that Bettman felt was “utterly irrelevant”.

While Toronto has certainly missed Rielly at a time when their back end is already thinned out, his absence hasn’t hurt them in the standings as they’ve won all four games and will try to make it five on Wednesday.  He’ll be eligible to return the following night against Vegas.

Suspensions| Toronto Maple Leafs Morgan Rielly

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Five Key Stories: 2/12/24 – 2/18/24

February 18, 2024 at 9:00 pm CDT | by Brian La Rose 3 Comments

We’re in the calm before the potential storm when it comes to the March 8th trade deadline.  Despite that, there was still some notable news throughout the NHL over the past seven days which is recapped in our key stories.

Kekalainen Fired: After 11 seasons as general manager, Jarmo Kekalainen is no longer with the Blue Jackets after being relieved of his duties.  Columbus made five playoff appearances with Kekalainen at the helm but only made it to the second round once back in 2019.  But over the last three years, the Blue Jackets haven’t finished higher than sixth in the Metropolitan Division, a streak that is quite certain to be extended to four this season.  Between their declining performance and a failed head coaching hire in Mike Babcock who had to leave the team before ever coaching a game, the time was right to make a change.  That said, the Blue Jackets have several promising core youngsters so there is certainly some hope for the future.

Kessel Gets A Chance: If Phil Kessel is going to play an 18th NHL season, it might wind up being with the Canucks.  The veteran has joined their AHL affiliate in Abbotsford to work out with the team and if things go well, he could eventually join Vancouver in the coming weeks.  The NHL’s reigning Ironman, Kessel had 36 points last season for Vegas but wasn’t able to land a guaranteed deal in the preseason or through the first half of the year.  However, for what would certainly be low-cost injury insurance, Kessel could be a worthwhile depth pickup for the stretch run if his workouts in the AHL go well.

Five For Rielly: The Department of Player Safety handed down a five-game suspension to Maple Leafs defenseman Morgan Rielly for his cross-check on Ottawa forward Ridly Greig following an empty-netter late in last Saturday’s game.  The suspension conceivably could have been longer considering the league offered an in-person hearing, allowing for a suspension of six games or longer.  An appeal on the ruling was quickly filed and was heard by Commissioner Gary Bettman on Friday whose ruling is expected in the next day or two.  As the suspension wasn’t six games or longer, there is no secondary appeal option to a neutral arbitrator.  He has already served the first three games and is eligible to return to Toronto’s lineup on Thursday.

Guentzel To LTIR: The Penguins are still within striking distance of a Wild Card spot but getting there just got tougher as it was announced that winger Jake Guentzel has landed on LTIR due to an upper-body injury.  The injury isn’t a season-ender but he will be out until around the March 8th trade deadline.  The 29-year-old sits second on Pittsburgh in team scoring with 52 points in 50 games, the fourth time in the last five seasons that his scoring average is above the point-per-game mark.  A pending unrestricted free agent, it’s also possible that Guentzel will be traded by the deadline if the Penguins are out of the race.  If that’s the route they ultimately go, they’ll be hoping the injury won’t impact the offers they’ll receive.

More Injuries: Guentzel’s injury wasn’t the only one of note around the NHL.  Sharks forward Tomas Hertl underwent knee surgery and while his season isn’t necessarily over, it looks like he’ll be out for a good chunk of the remainder of the year, costing San Jose its top scorer.  In Philadelphia, blueliner Rasmus Ristolainen was a speculative trade candidate but any trade talk is likely on hold now as the veteran is out for a few weeks after having an upper-body procedure.  It stands to reason that moving someone with the contract he has (three more years after this season at $5.1MM) may be more of a summer move anyway.  Meanwhile, Rangers winger Blake Wheeler’s season has come to an early end due to a lower-body injury.  A return in the playoffs hasn’t been ruled out while New York will now be able to add his $800K base salary to its LTIR pool.

Photo courtesy of USA Today Sports Images.

NHL Week In Review

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Flames Receiving Trade Interest In Rasmus Andersson

February 18, 2024 at 8:29 pm CDT | by Brian La Rose 15 Comments

There has been no shortage of trade speculation coming from Calgary this season.  Nikita Zadorov and Elias Lindholm have already been moved while Chris Tanev, Noah Hanifin, and Jacob Markstrom are all in the rumor mill as well.  But those aren’t the only players teams are calling about as ESPN’s Kevin Weekes reports (Twitter link) that the Flames are also receiving trade interest in defenseman Rasmus Andersson.

The 27-year-old has become a top-pairing player in recent seasons after putting up 50 points in 2021-22 and 49 points in 2022-23 while logging big minutes.  This year, Andersson’s numbers are down a bit as he has 28 points through 51 games so far but is averaging a little over 24 minutes a night and is playing in all situations.  With 122 blocks, he’s only 14 shy of his career-high on that front as well.

On top of that, Andersson has a contract that certainly has been well below market value as of late.  He’s signed through the 2025-26 campaign with a $4.5MM cap hit, a price point that’s more commensurate with a second-pairing player than a top-pairing one.  Getting someone with that type of surplus value would make a lot of sense for many teams.

Of course, holding onto a player like that also makes sense for Calgary.  GM Craig Conroy indicated earlier this week that he doesn’t intend for the Flames to go into a full-scale rebuild.  It’s one thing to move players on expiring contracts as they’ve done twice so far and could do twice more with Tanev and Hanifin where you risk losing the player for free in free agency but it’s another to move a controllable key asset like Andersson.

Accordingly, it would be surprising to see Conroy move Andersson in the three weeks before the March 8th trade deadline unless the return was simply too good to pass up on.  However, that won’t stop teams from inquiring in the hopes that they can come up with an offer that would make Calgary part with one of its top blueliners.

Calgary Flames Rasmus Andersson

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Jacob Truscott Won’t Sign With Canucks, Set To Become UFA This Summer

February 18, 2024 at 7:58 pm CDT | by Brian La Rose 3 Comments

We’re still a few weeks away from the first round of college free agency that will happen as NCAA seasons come to an end but there is some news on the second round which comes in mid-August.  CHEK’s Rick Dhaliwal recently reported on Sportsnet 650 (audio link) that defenseman Jacob Truscott will not sign with the Canucks and will instead hit the open market in the summer.

The 21-year-old was a fifth-round pick back in 2020 (144th overall) and is in his fourth and final season at Michigan.  Last season was his best offensively in terms of points per game when he put up 16 points in 23 games playing alongside Luke Hughes on their top pairing before suffering a season-ending leg injury.  This season, Truscott’s numbers are down a bit although the captain still has 13 points in 30 games so far.

This may be a case of the numbers game quashing a chance for Truscott to join Vancouver.  The team has been aggressive in signing college free agents lately headlined by blueliners Akito Hirose and Cole McWard while blueline prospect Elias Pettersson is set to turn pro next season along with Kirill Kudryavtsev, limiting Truscott’s opportunities if he was to sign with the Canucks.

If Truscott is amenable to signing with another team and not hitting the open market, it’s possible that Vancouver could use his signing rights in a trade to get some sort of return.  Otherwise, he’ll become a free agent on August 16th.

NCAA| Vancouver Canucks Jacob Truscott

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Bruins Sign Justin Brazeau

February 18, 2024 at 7:25 pm CDT | by Brian La Rose 3 Comments

It has been a successful season in the minors for winger Justin Brazeau and he has been rewarded for his efforts.  BNG Productions’ Mark Allred was first to report (Twitter link) that the Bruins have converted his AHL contract to an NHL one; CapFriendly adds (Twitter link) that it’s a two-year deal which breaks down as follows:

2023-24: $775K NHL salary, $135K AHL salary
2024-25: $775K NHL salary, $165K AHL salary, $190K guaranteed salary

The 26-year-old finished up his major junior career with a bang, scoring 61 goals in 68 games with North Bay.  That helped him earn a two-year AHL deal with Toronto at the time but he played in only 22 games for the Marlies over that stretch.  He then signed a minor league deal with Boston in 2021 and his fortunes have certainly changed since then.

Brazeau scored 15 goals in his first season with Providence and followed that up with 16 tallies last season in 67 games.  This season, the 6’5 winger has already surpassed that mark, notching 18 goals along with 19 helpers in 48 appearances, good for fourth on the team in scoring.  It appears that will be enough to get him his first NHL opportunity which could come as soon as Monday against Dallas as it appears he’ll take the place of Oskar Steen on the roster who was waived earlier today.

Brazeau is not subject to any entry-level rules and thus will only be waiver-exempt for the remainder of this season.  Starting in 2024-25, he’ll have to clear waivers if Boston wants to return him to Providence.  The Bruins now have 48 contracts on the books out of the maximum of 50.

Boston Bruins| Transactions Justin Brazeau

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West Notes: Tourigny, Hertl, Pelletier, Blueger

February 18, 2024 at 6:57 pm CDT | by Brian La Rose 1 Comment

It has been a rough go for the Coyotes as of late having lost eight straight games heading into today’s action.  However, GM Bill Armstrong dismissed any notion of head coach Andre Tourigny being in jeopardy of losing his job, telling PHNX’s Craig Morgan that he won’t be making a coaching change.  Arizona was in a Wild Card spot when the calendar flipped to 2024 but now is ten points behind St. Louis for the final playoff spot.  Armstrong hasn’t hidden the fact that the plan was for a long rebuild process and while it appears the Coyotes are likely to miss the playoff for the fourth straight season (12th straight if you don’t count the expanded 2020-21 postseason), Tourigny is still viewed as the right coach to help them take that next step.

More from the Western Conference:

  • It will still be another week or so before the Sharks learn exactly how long Tomas Hertl will be out for, notes Curtis Pashelka of The Mercury News. The 30-year-old has missed the last three weeks after undergoing surgery to remove cartilage from his left knee.  While it has been a particularly rough year for most players in San Jose, Hertl has fared relatively well this season, all things considered.  Despite missing six games, he still leads the Sharks in scoring with 34 points through 48 games.  Pashelka notes that there is optimism that Hertl will be able to return at some point before the regular season comes to an end in April but with San Jose so far out of playoff contention, it wouldn’t be shocking to see him get shut down for the season altogether.
  • Flames winger Jakob Pelletier is making progress in his recovery from an upper-body injury that has caused him to miss the last two games but he isn’t expected to play on Monday versus Winnipeg, relays Sportsnet 960’s Pat Steinberg (Twitter link). The 22-year-old has been limited to just four games so far this season (plus four more in the minors) due to injury.  However, it appears this one won’t keep him out for much longer.
  • The Canucks have identified Teddy Blueger as one of their pending unrestricted free agents that they’d like to re-sign, CHEK’s Rick Dhaliwal reported in a recent segment on Sportsnet 650 (audio link). The 29-year-old inked a one-year, $1.9MM deal with them back in July and has done well, picking up 22 points in 42 games while being one of their top-used penalty killers.  That said, contract discussions have not started as of yet and Dhaliwal feels that Vancouver may wait until late in the year to start discussing new deals with the UFA’s they’d like to keep.

Andre Tourigny| Calgary Flames| San Jose Sharks| Utah Mammoth| Vancouver Canucks Jakob Pelletier| Teddy Blueger| Tomas Hertl

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Salary Cap Deep Dive: Washington Capitals

February 17, 2024 at 4:00 pm CDT | by Brian La Rose 2 Comments

Navigating the salary cap is one of the more important tasks for any GM.  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 see struggles and front office changes.

PHR concludes its look at every NHL team and give a thorough look at their cap situation for the 2023-24 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.

Washington Capitals

Current Cap Hit: $85,054,827 (over the $83.5MM Upper Limit)

Entry-Level Contracts

F Connor McMichael (one year, $863K)
F Aliaksei Protas (one year, $789K)

Potential Bonuses
Protas: $82.5K

Last season was a step back for McMichael who went from being a regular in Washington to a regular in Hershey.  This year, he’s back to being a regular but hasn’t been all that productive despite seeing a lot of top-six minutes.  While he’s still almost certainly part of their future plans, he’s likely heading for a bridge contract around double his current price tag.  Protas has already signed a new deal which we’ll cover later but it’s worth noting his bonuses are based on games played.  A full-time regular, Protas should max out on those as long as he stays healthy.

Signed Through 2023-24, Non-Entry-Level

F Nicolas Aube-Kubel ($1.25MM, UFA)
D Joel Edmundson ($1.75MM, UFA)*
F Beck Malenstyn ($762.5K, RFA)
F Anthony Mantha ($5.7MM, UFA)
F Max Pacioretty ($2MM, UFA)
D Rasmus Sandin ($1.4MM, RFA)

*-Montreal is retaining an additional $1.75MM on Edmundson’s contract.

Potential Bonuses
Pacioretty: $2MM

After struggling with consistency in Detroit, Mantha hasn’t been able to improve on that with the Capitals.  At times, he plays like a top-liner and at others, he’s barely noticeable.  While he has played better as of late, it’s hard to see him matching his current contract.  A one-year pillow deal could be a viable option while a multi-year agreement likely starts with a four.  Pacioretty missed more time than expected while recovering from his second Achilles surgery and has been relatively quiet since returning.  Meanwhile, $1.5MM of his games-played bonuses have already been met while the final $500K should be reached this week.  There will still be a market for Pacioretty this summer but it’s likely to be a deal structured similar to this one with some performance bonuses in there.

Aube-Kubel cleared waivers at the beginning of the season but has done relatively well with Washington where he has still spent most of the year.  That said, as a long-term fourth liner, his earnings upside is going to be limited this summer and a small cut in pay isn’t out of the question.  The same can’t be said for Malenstyn who has locked down a full-time roster spot, spending a lot of time on the third line.  His offensive numbers are low enough that his next deal won’t be too expensive but he should at least double his current cap hit, especially with arbitration eligibility.

Edmundson battled injury issues early in the season and has been limited to duty on the third pairing since returning.  With injuries causing him to miss significant time over the last few years, it wouldn’t be surprising to see Edmundson’s next deal come closer to what Washington is paying him now compared to his full $3.5MM AAV.  As for Sandin, he hasn’t been able to keep up the level of production he had down the stretch last year but he is still logging top-four minutes and is a part of their longer-term plans.  He’s owed a $1.6MM qualifying offer but could more than double that on a long-term agreement that buys out some of his UFA-eligible seasons.

Signed Through 2024-25

D Alexander Alexeyev ($825K, RFA)
F Nicklas Backstrom ($9.2MM, UFA)
D Ethan Bear ($2.0625MM, UFA)
F Nic Dowd ($1.3MM, UFA)
F Evgeny Kuznetsov ($7.8MM, UFA)
G Charlie Lindgren ($1.1MM, UFA)
F T.J. Oshie ($5.75MM, UFA)
F Michael Sgarbossa ($775K, UFA)

Backstrom was able to return from hip resurfacing surgery last season where he performed relatively well, not so much relative to his contract but simply for coming back and being a top-six player.  However, he struggled early on this season before shutting it down with lingering pain.  He’s on LTIR and may very well stay there through next year.

The hope was that Kuznetsov would rediscover his offensive touch under new head coach Spencer Carbery after a trade failed to materialize in the summer.  Instead, he struggled through the first half of the year and is now in the Player Assistance Program.  Assuming he returns from that, it’s quite unlikely that he’ll be able to command anywhere close to this type of contract in 2025; something in the $4MM range might be the more realistic target.

Oshie provided plenty of value on this deal early on but it was always expected that the final couple of years could be a drag on Washington’s cap.  He’ll be 38 when this deal is up so if there is another contract for him, it’s likely to be a bonus-laden one with a base price tag between a quarter and a third of what it is now.

Dowd has worked his way from being a depth player to a capable third liner since joining the Capitals.  He doesn’t provide enough scoring to really top out his earnings but as a good penalty killer and someone who can hold his own at the faceoff dot, he could plausibly double his current cost on a multi-year deal in 2025.  As for Sgarbossa, he’s up with Kuznetsov out of the lineup and has been an AHL recall for several years now.  That doesn’t seem likely to change unless he can grab hold of a full-time spot while he’s up.

Bear recently signed this contract and will be looking to rebuild some value after an injury sustained at the Worlds kept him out for nearly half the season.  His contract is backloaded – next year’s salary sits at $2.75MM – and that price tag is likely where he’s hoping his next contract will land, assuming he can move into a more prominent spot in the lineup next season.  Alexeyev is a waiver-blocked young defender who has had a hard time cracking the lineup so far this season.  Until he’s able to grab a hold of a spot, it’s unlikely that he’ll be able to command much more than this.

Lindgren has slowly worked his way from a third-string goaltender for the first several years of his professional career to a decent backup early in his time with Washington to now a strong-side platoon netminder as he is in the midst of a career year.  Considering the market value for a decent platoon option is three times his current price tag (if not a bit more for some), the Capitals are getting great value here.  Meanwhile, if Lindgren can keep up his level of play through next season, he will be in line for a substantial jump in pay, one that could push past the $4MM mark on a multi-year agreement based on contracts handed out to similar netminders in recent years.

Signed Through 2025-26

D John Carlson ($8MM, UFA)
D Martin Fehervary ($2.675MM, RFA)
D Nick Jensen ($4.05MM, UFA)
F Sonny Milano ($1.9MM, UFA)
F Alex Ovechkin ($9.5MM, UFA)
D Trevor van Riemsdyk ($3MM, UFA)

Ovechkin provided a decent return on the first two years of his contract but he has slowed down considerably this season despite a recent hot stretch.  This is a legacy deal as he tries to chase down the all-time goal record.  It wouldn’t be surprising if this is his last NHL contract unless he winds up just a few tallies short and takes a one-year agreement to take one final crack at Wayne Gretzky’s mark.  In that instance, a bonus-laden deal with a much lower base salary would be quite likely.  Milano had to settle for a league-minimum contract in-season last year but played well enough to get some stability.  A back-to-back 30-plus-point player, he’ll give Washington some good value if he can stay around that level of production while setting himself up for a small raise down the road.

At his peak, Carlson was one of the premier point producers from the back end.  Those days are gone now although he’s still above average on that front while logging number one minutes.  As long as that continues to be the case, they’ll get a reasonable return on this contract.  Having said that, by the time he goes to sign his next deal, it will almost certainly come in a few million below this.  Jensen had a career year last season to earn this contract but hasn’t been able to play at the same level.  As a right-shot defender who can play on the second pairing, it’s not all bad news but right now, this contract looks like a bit of an overpayment especially with him being 33 already.  Accordingly, it’s hard to see him looking at a raise in 2026.

The same can be said for van Riemsdyk who turned his best year into a three-year deal as well but hasn’t been able to repeat it this season.  More of a player best suited as a fifth option on a third pairing, this price tag is also a bit on the high side based on van Riemsdyk’s current level of performance.  If he stays at that level for the rest of the deal, he’ll be looking at a pay cut as well.  Fehervary has become a capable checking blueliner, one that plays with plenty of physicality.  With a limited offensive skill set, he won’t produce enough to command a significant raise with his arbitration rights in 2026 but a small one should be coming.  With his deal being front-loaded, his qualifying offer checks in at just over $1MM so that won’t be a factor in discussions.

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Signed Through 2026-27 Or Longer

G Darcy Kuemper ($5.4MM through 2026-27)
F Aliaksei Protas ($3.375MM from 2024-25 through 2028-29)
F Dylan Strome ($5MM through 2027-28)
F Tom Wilson ($5.167MM this season, $6.5MM from 2024-25 through 2030-31)

Wilson’s current contract was a market-setter at the timing, giving someone who had only hit the double-digit goal mark once a bigger raise than many anticipated.  Since then, it has been used as a benchmark in many negotiations, helping to set the power forward premium that several players have received.  For the most part, the Capitals have got a reasonable return on their investment as Wilson has been able to stick on the top six throughout the deal.  That said, his next contract also raised some eyebrows as giving someone who plays a very physical style (thus taking a harder toll on the body) that much money through his age-37 season will carry some risk.  As long as he can hold his own in the top six and contribute around 20 goals, Washington will do okay with this contract.  When that changes though, it could be an anchor for them.

Strome finally got the long-term security he had been seeking with this deal, a nice spot to be in after being non-tendered in 2022.  He’s not a typical top center but they’re not paying him to be on either.  He has already hit 20 goals for the third straight season; that type of output from a middleman at this price tag is a reasonable return.  There is certainly some projection in Protas’ contract.  He has just three goals this season and ten for his career.  However, they’re hoping that he can find another level offensively and chip in with some reliable middle-six minutes.  Just 23, that type of optimism is certainly understandable.  If he can become a steadier contributor, this could be a value deal down the road.

Buyouts

None

Retained Salary Transactions

None

Best Value: Lindgren
Worst Value: Kuznetsov

Looking Ahead

With Washington on the outside looking in at a playoff spot, GM Brian MacLellan may look to sell.  There’s some value in doing so as it would allow Pacioretty and Protas’ games-played bonuses to potentially hit the books this season instead of being rolled over to 2024-25.  Alternatively, if the Capitals get on a run, they have enough LTIR flexibility with Backstrom to add a piece or two but it would result in those bonuses being pushed to next season.

There is some reasonable balance in terms of having a handful of notable expiring contracts each year for the next few seasons.  That gives the Capitals some options in terms of keeping a handful of them while keeping enough cap room to try to replace others from outside of the organization.  That said, it looks like it will be a couple more years before they’re in a spot to really try to add a piece of significance to the existing core.  Until then, they’re likely to remain in the middle of the pack when it comes to the standings.

Photos courtesy of USA Today Sports Images.

Pro Hockey Rumors Originals| Salary Cap Deep Dive 2023| Washington Capitals

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