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Hurricanes Re-Sign Seth Jarvis To Eight-Year Contract

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Earlier this week, a report from The Fourth Period’s David Pagnotta indicated that the Hurricanes and RFA winger Seth Jarvis were nearing an agreement on a long-term contract.  That is indeed the case as the team announced that the two sides have reached an eight-year, $63.2MM contract.  GM Eric Tulsky released the following statement:

Seth is a cornerstone player for our franchise. He took another huge step last season, playing in all situations and displaying the skill and competitive drive that will make him a star in this league in the years to come.

Typically, the AAV of a contract is the total value divided by the number of years which in this case would be $7.9MM.  However, Daily Faceoff’s Frank Seravalli (who first reported the deal) reports that there is a deferred signing bonus payment due July 1st, 2032, a day after the expiration of the agreement.  By doing so, the contract’s AAV will actually check in at $7.5MM.  Chris Johnston of TSN and The Athletic adds (Twitter link) that the deal contains $30MM of signing bonus money, the breakdown of which is not yet known.

The contract will cover the four remaining RFA-eligible seasons plus his first four seasons of UFA eligibility.  It’s only those last four years that will be eligible for trade protection.

The 22-year-old was selected 13th overall by the Hurricanes in 2020.  Jarvis spent his post-draft campaign in the WHL and then made the jump to the NHL at 19.  He put up 17 goals and 23 assists in 68 games in his rookie season and followed that up with 14 goals and 25 helpers in 82 games in his sophomore campaign.

Last season was a breakout performance for Jarvis.  He set career-highs with 33 goals and 34 assists in 81 games while averaging 18:45 per night.  His 67 points were good for second on the team in scoring behind only Sebastian Aho.  Jarvis was also one of Carolina’s top scorers during the postseason as he had five goals and four helpers in 11 contests, putting him third in team scoring.  That certainly gave him some extra bargaining power heading into contract negotiations.

Carolina went into these discussions with roughly $6.44MM in cap space, per PuckPedia so this agreement will put them around $1MM over the Upper Limit.  However, with Jesper Fast expected to miss the entire season after having neck surgery, the Hurricanes will be able to put him on LTIR, getting them back into cap compliance.  They can also opt to carry a roster with fewer than the maximum of 23 players which would allow them to get under the Upper Limit that way and still bank in-season cap room.

Contracts with deferred money are quite rare in the NHL but it’s actually the second time Carolina has used it this offseason.  Seravalli notes in his report about Jarvis’ contract that there is some deferred signing bonus money in Jaccob Slavin’s contract as well, one that moves the AAV from the reported $6.461MM to $6.396MM.  These structures have been approved by the NHL so there won’t be any concerns about this contract getting vetoed.

Johnston noted (Twitter link) that multiple teams attempted to use this structure in talks this summer, including Vegas in their attempts to re-sign Jonathan Marchessault.  With Carolina now successfully doing this twice, it will be interesting to see if it results in an uptick in these types of agreements moving forward.

Photo courtesy of USA Today Sports Images.

Hurricanes, Seth Jarvis Making Progress On Long-Term Contract

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Hurricanes winger Seth Jarvis is one of the more prominent restricted free agents with camps just a few weeks away from opening up.  However, it appears that might not be the case for much longer as The Fourth Period’s David Pagnotta reported earlier this week in an NHL Tonight appearance (video link) that the two sides are getting close to a max-term eight-year deal.

The 22-year-old was the 13th overall pick by Carolina in 2020 and after spending his post-draft campaign in the WHL, he has been a fixture in their lineup since.  Jarvis put up 40 and 39 points over his first two seasons, decent numbers for a youngster in his first taste of the pros but he managed to find another gear in 2023-24.

Last season, Jarvis set career bests with 33 goals and 34 assists in 81 games while logging 18:45 per night.  His 67 points were good for second on the Hurricanes in scoring behind only Sebastian Aho.  He was also one of their top scorers in the playoffs, recording five goals and four helpers in 11 contests, putting him third in team scoring behind Aho and Andrei Svechnikov.

It was suggested earlier this month that the Hurricanes might view Svechnikov’s $7.75MM AAV as the ceiling for Jarvis; the 2018 second-overall pick received that on a max-term agreement coming off his entry-level deal.  Pagnotta suggests that the price tag for Jarvis could creep past the $7.5MM mark so while it might come in below Svechnikov’s, it could be pretty close to it.

Carolina has around $6.44MM in cap room, per PuckPedia.  However, with today’s news that winger Jesper Fast will likely miss the entire season after undergoing neck surgery, he will be eligible to be placed on LTIR.  Depending on their exact situation at the time of his placement, the Hurricanes could go over the cap by up to Fast’s $2.4MM.  That amount added to their base cap space would be enough to get Jarvis under contract while leaving a bit of flexibility to afford a recall or two when injuries strike.

Snapshots: Norris, Fehervary, Bjorkstrand, Johansson

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After undergoing shoulder surgery back in March, Senators center Josh Norris is expected to be a full participant when training camp gets underway next month, reports Postmedia’s Bruce Garrioch.  The 25-year-old has had three separate shoulder procedures done and he has yet to play more than 66 games in a single season.  Last season, Norris played in 50 games for Ottawa, recording 16 goals and 14 assists.  He has six years remaining on his contract with a $7.95MM cap charge and the Sens will be counting on him to stay healthy and play a prominent role in 2024-25.

Elsewhere around the hockey world:

  • Capitals defenseman Martin Fehervary will not suit up for Slovakia in the Olympic Qualifying Tournament, Hockey Slovakia announced. The blueliner recently indicated that he has been dealing with a minor injury and clearly, he hasn’t fully recovered from it to be able to play.  The 24-year-old had 16 points in 66 games for Washington last season while adding 188 hits and 109 blocked shots in 19:38 per night and would have played a prominent role for the Slovaks in the tournament.
  • Kraken winger Oliver Bjorkstrand was a late scratch for Denmark in their Olympic Qualifying Tournament game against Great Britain today. Team radio host Mike Benton relays (Twitter link) that the injury, which occurred in a tune-up game for the tournament, isn’t believed to be serious but GM Ron Francis noted that it’s something that needs to be looked at which means it’s highly unlikely he’ll play in the other two games.  Bjorkstrand, who had 20 goals and a career-high 39 assists last season, is expected to be ready to participate in training camp.
  • While unrestricted free agent Simon Johansson has received interest from overseas (particularly SHL Djurgarden), the blueliner is focusing on playing in North America this season, notes Hockey Sverige’s Mans Karlsson. The 25-year-old spent the last two seasons in Minnesota’s system and recorded 21 points in 72 games with AHL Iowa in 2023-24.  However, he was still non-tendered back in June.

Flyers Sign Eetu Makiniemi To PTO

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The Flyers will have some extra goaltending depth on hand at training camp.  The agency for Eetu Makiniemi, WD Sports and Entertainment, announced (Twitter link) that the netminder has accepted a PTO offer and will attend training camp with Philadelphia.  Team reporter Bill Meltzer relayed last week that the Flyers were interested in bringing Makiniemi to camp.

[Related: 2024 Professional Tryout Tracker]

The 25-year-old was originally drafted in the fourth round by Carolina in 2017 but after spending one year in their farm system, he was dealt to San Jose in 2022 as part of the Brent Burns trade.  Makiniemi spent the last two years in the Sharks’ system, primarily at the AHL level but he did make two appearances with the big club, putting up a 2.13 GAA and a .906 SV%.

Last season, Makiniemi played in 18 games with AHL San Jose, putting up a 3.14 GAA with a .900 SV%.  He also suited up for three contests with ECHL Wichita, posting a 3.39 GAA and a .907 SV% in those outings.  At the end of the contract, he became a Group Six unrestricted free agent.

There has been some uncertainty surrounding Flyers prospect Alexei Kolosov who is believed to be seeking a return to the KHL for the upcoming season while the organization does not appear to be willing to loan him back.  Veteran Cal Petersen is expected to be the starter with AHL Lehigh Valley (assuming he clears waivers once again in training camp) while the Phantoms have added Keith Petruzzelli and re-signed Parker Gahagen to give themselves some insurance between the pipes.  Makiniemi will now try to play his way into that mix on what would likely ultimately be an AHL contract.

CHL Notes: Muhonen, Vaisanen, Sansonens, Loshko

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While NHL training camps are still a few weeks away, CHL camps are already underway.  That has brought about some early activity on the transaction front; here’s a rundown of some recent moves involving NHL prospects.

  • WHL Medicine Hat announced that they’ve signed Stars defenseman Niilopekka Muhonen and Utah blueliner Veeti Vaisanen to contracts for the upcoming season. The Tigers selected the two players in the CHL Import Draft earlier this offseason.  Muhonen was a fifth-round pick last month after spending most of last season in KalPa’s junior system in Finland.  Vaisanen, meanwhile, was a late third-rounder and spent the majority of last season in Finland’s top level, getting into 50 games with KooKoo where he had two goals and eight assists.
  • After spending last season in Switzerland, Basile Sansonnens is on the move. His club team in Lausanne announced that they have loaned him to QMJHL Rimouski for the upcoming season.  The Canucks selected the defenseman late in the seventh round in June after he picked up three points in 40 games with Gotteron at the junior level.  It’s a one-year loan for Sansonnens who will return to Lausanne for the 2025-26 season; he’s signed with them through the 2027-28 campaign which is also the deadline for Vancouver to sign him to an NHL contract or lose his rights.
  • Kraken prospect Andrei Loshko is on the move as OHL Niagara announced that they’ve claimed the forward off waivers. The 19-year-old was a fourth-round pick in 2019 and is coming off a productive season with QMJHL Rouyn-Noranda, one which saw him record 28 goals and 37 assists in 64 games.  However, the Huskies picked up two new players in the Import Draft, resulting in Loshko hitting the waiver wire.  Seattle has until June 1, 2025 to sign Loshko to an entry-level deal.

Snapshots: Gustavsson, Flyers, Khaira

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After re-signing Marc-Andre Fleury and indicating that they’d like Jesper Wallstedt to see more NHL action in 2024-25, it looked as if Filip Gustavsson was set to be on the move this summer.  That hasn’t happened as of yet and Joe Smith of The Athletic notes (subscription link) that it appears that Gustavsson will now be sticking around, meaning that Minnesota will be juggling three goalies at times when they want Wallstedt to get a look.  Gustavsson is coming off a tough year, one that saw him post a 3.06 GAA with a .899 SV% in 45 games after putting up 2.10 and .931 respectively in 2022-23.  The Wild’s cap situation will make it tricky to carry three goalies; GM Bill Guerin acknowledged that Wallstedt could be in a “hybrid” situation that sees him spend time with Minnesota and AHL Iowa as a result.

Elsewhere around the hockey world:

  • The Flyers have added a pair of prospects to their upcoming rookie camp roster. Jonathan Bailey of Philly Hockey Now relays that goaltender Sam Hillebrandt and forward Josh Zakreski will join them in September.  Hillebrandt had a 3.67 GAA with a .899 SV% in 36 games last season with OHL Barrie while serving as the third goalie for Team USA at the World Juniors.  Zakreski, meanwhile, is their lone undrafted invitee from July’s development camp to move on to rookie camp so far.  He had 21 goals and 28 assists in 68 games in 2023-24 with WHL Portland.
  • Unrestricted free agent forward Jujhar Khaira was on Vancouver’s radar for the PTO slot that went to Sammy Blais earlier this week, report Thomas Drance and Rick Dhaliwal of The Athletic (subscription link). The 30-year-old is a veteran of 337 career NHL games but only one of those came last season as he spent most of the season with AHL Iowa where he had 18 points in 22 games.  Drance and Dhaliwal add that the Canucks have not shown interest in Nick Cousins or Milan Lucic who are also looking for a new place to play for the upcoming season.

Predators Won’t Immediately Spend Money Freed Up By Ryan Johansen’s Contract Termination

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One of the byproducts of Philadelphia’s termination of Ryan Johansen’s contract earlier this week was that it wasn’t just the Flyers that gained cap space but also the Predators.  When Nashville moved the center to Colorado last offseason, they retained $4MM of his $8MM salary in the process and the termination takes that money off the books.

Speaking with 102.5 The Game (audio link) following the Yaroslav Askarov trade, GM Barry Trotz was asked about the freed-up money.  However, don’t expect that to be spent any time soon:

I have to treat it as if it’s in escrow. I have to act like it’s not there until the final decision is made.

The final decision that Trotz references is the grievance that has already been filed on Johansen’s behalf.  It has been his camp’s contention that Johansen’s nagging hip injury means that he is too injured to play.  That injury came to light following his trade to Philadelphia and subsequent waiver clearance.  An injured player cannot be bought out of his contract so the window came and went without that happening.

However, the Flyers opted to terminate Johansen’s deal based on a material breach, declining to go into specifics about what the breach was though some have speculated it could be related to the timing of the reporting of the injury.  For the time being, that cleared $4MM off their books and Nashville’s.

But knowing that a grievance is coming, electing not to quickly spend those savings is the prudent move for Trotz.  If the full contract is restored, then they won’t be put in a spot where they have to quickly clear money out to get back to cap compliance.  Meanwhile, if there’s a settlement or only part of the contract is reinstated following the hearing, the Preds will then have ample in-season flexibility to add closer to the trade deadline.

As things stand, the Predators have a little under $3.1MM in cap space, per PuckPedia, and that’s with Johansen’s deal viewed as being on their books which is how Trotz has said he plans to operate.  A good chunk of that will go to RFAs Philip Tomasino and Juuso Parssinen so until they get a final resolution on Johansen’s situation (which will likely take a while), they likely won’t have any other moves of significance coming after what has been an already very busy summer.

West Notes: Boeser, Soderstrom, Edstrom

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The 2023-24 season was a breakout showing for Canucks winger Brock Boeser.  He reached the 40-goal mark for the first time while his 73 points were also a personal best.  Despite that, a contract extension doesn’t appear to be on the horizon as Thomas Drance and Rick Dhaliwal of The Athletic report (subscription link) that there have yet to be any discussions about a new deal.  The 27-year-old is entering the final year of his existing contract which makes him extension-eligible.  He’s bound to be eyeing a raise from his current $6.65MM AAV with some potential comparables starting with a seven.  For now, it appears that Vancouver’s management wants to see if Boeser can have a repeat showing in 2024-25 before committing to what will be another long-term, big-money agreement.

More from out West:

  • In an interview with Mattias Ek of Hockey News SE, Utah RFA defenseman Victor Soderstrom expressed some frustration with how he was continually passed over for recalls with Arizona last season despite a solid performance that saw him put up 32 points in 62 games with AHL Tucson. The 23-year-old played in just three games for the Coyotes in 2023-24, giving him 53 career appearances at the top level.  Soderstrom didn’t rule out the possibility of signing overseas but acknowledged that a return to Brynas (where he spent most of his time before coming to North America) was unlikely for the 2024-25 campaign.
  • New Predators prospect David Edstrom spent last season on loan to SHL Frolunda after signing his entry-level deal with Vegas. However, it doesn’t appear as if that will be the case this time around.  In an interview with 102.5 The Game (audio link), Nashville GM Barry Trotz indicated that he envisions his new center playing big minutes with AHL Milwaukee.  Since Edstrom wasn’t drafted out of the CHL, he is AHL-eligible despite being just 19.  He played in 44 games in Sweden last season, picking up 19 points and should be counted on to produce a bit more than that in his first taste of action in North America.

Atlantic Notes: Swayman, Sabres Goaltending, Canadiens

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The Bruins have yet to re-sign goaltender Jeremy Swayman after both sides opted to pass on a repeat of last year’s arbitration process.  While some fans are concerned that a deal isn’t done yet, the same can’t be said for team president Cam Neely.  In an interview with WZLX (audio link), Neely indicated that he’s confident an agreement will be reached soon:

Not every negotiation is as smooth as you’d like it. I know our fan base would certainly love to have something done by now. But I’m fully confident that both sides will come to an agreement before too long here.

Swayman has been one of the top goalies statistically over the last two seasons, playing to a 2.41 GAA and a .918 SV% over that stretch in 81 appearances.  Now that his platoon partner Linus Ullmark is in Ottawa, Swayman is the undisputed starter and is quite likely seeking a salary commensurate with that despite his single-season benchmark for games played being just 44.  The Bruins have a little over $8.6MM in cap space, per PuckPedia, which should be plenty to keep Swayman in the fold.

Elsewhere in the Atlantic:

  • Lance Lysowski of The Buffalo News examines how the Sabres aren’t taking the normal development path when it comes to goaltender Devon Levi. Generally speaking, netminders are developed at a more gradual pace with many seeing 100 or more AHL appearances before becoming a full-time NHLer.  However, Buffalo tried to bring Levi directly to the NHL from college before opting for a brief stint with AHL Rochester partway through last season.  Even after adding James Reimer in free agency, it appears that Levi is expected to be Buffalo’s second goalie behind Ukko-Pekka Luukkonen, meaning they will be attempting the rarer development path for him once again.
  • The Canadiens were among the teams considered as a possible landing spot for Yaroslav Askarov, relays Sportsnet’s Elliotte Friedman (Twitter link). Montreal’s goalie tandem for the upcoming season appears to be set with Sam Montembeault’s new three-year deal beginning while Cayden Primeau is expected to get his first full NHL opportunity as the backup so it’s unclear if Askarov would have been given much of an NHL look in the short term.  In the end, the top goalie prospect was moved to San Jose on Friday.

Metropolitan Notes: Jarvis, Fehervary, Puustinen

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Hurricanes winger Seth Jarvis remains unsigned, a situation that several key forwards coming off their entry-level deals currently find themselves in.  Despite that, Luke DeCock of the Raleigh News & Observer suggests that the likelier outcome remains that a long-term agreement will get done instead of the sides pivoting to a short-term bridge agreement.  A long-term pact for the 22-year-old should fall between the $7MM and $8MM per season range.  DeCock notes that Andrei Svechnikov’s $7.75MM contract could be viewed as the ceiling for a player signing long-term coming off his entry-level agreement which could be part of the reason it’s not done yet if Jarvis’ camp is seeking more than that.  Jarvis had a career-best 33 goals and 34 assists in 81 games last season (ranking second on the team in points) while adding nine points in their 11 playoff contests.

More from the Metropolitan:

  • Capitals defenseman Martin Fehervary has been named to Slovakia’s roster for the upcoming Olympic Qualifying Tournament but he might not be able to suit up after all. The 24-year-old indicated to NHL.com’s Nick Cotsonika (Twitter link) that he’s dealing with a minor injury and that while he’d like to play in the tournament which begins in less than a week, he and the team are in agreement that if he’s not fully healthy by the start, he shouldn’t play.  Fehervary had 16 points in 66 games for Washington last season while picking up 188 hits and 109 blocked shots in 19:38 per night and projects to have a big role on their back again once again in 2024-25.
  • With the Penguins adding some extra forward depth over the summer, Matt Vensel of the Pittsburgh Post-Gazette suggests that winger Valtteri Puustinen is no lock to make Pittsburgh’s roster in training camp. The 25-year-old became an NHL regular in December and picked up 20 points in 52 games after that, a respectable point total considering he averaged less than 12 minutes a game.  Signed for two years at the league minimum, Puustinen could be an intriguing potential waiver claim should he not break camp with Pittsburgh.

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