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Senators, Sabres Discussed Matt Murray Trade

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12:15pm: Darren Dreger of TSN reports that the deal would have included the Senators retaining some of the salary, and Buffalo moving up from No. 16 to No. 7 in today’s first round.

11:10am: With the shallow free agent goaltending market this year, teams are trying to get a bit more creative. One name that has popped up a few times is Matt Murray, the Ottawa Senators netminder who fell out of favor with the team and spent a good chunk of last season in the minor leagues. Elliotte Friedman of Sportsnet reports that the Senators and Buffalo Sabres were “deep into conversations” about Murray.

Unfortunately for both teams, Murray has Buffalo on his 10-team no-trade list and, as Friedman puts it, “stuck to his list.” That would suggest the talks got far enough along to ask him about whether he would waive, as the Senators try to rid themselves of his contract. Bruce Garrioch of Postmedia notes that Ottawa wouldn’t face the same issue with the Toronto Maple Leafs, who are also “in the mix”, as Murray would agree to a move there.

It’s easy to understand why the Senators want to move on. Not only does Murray have a $6.25MM cap hit, but the actual salary owed is higher in the last two years of his deal, with a $7MM salary in 2022-23 and $8MM in 2023-24. Combine those escalating costs with inconsistent play and a handful of exciting goaltending prospects, and you have a player that needs to be shipped out of town.

The Sabres are looking for a veteran goaltender to help Craig Anderson carry the NHL load while Ukko-Pekka Luukkonen continues to develop in the minor leagues, and given Murray’s experience–two Stanley Cups with the Pittsburgh Penguins–he certainly fits that bill, despite being just 28. For Buffalo, taking on a cap hit like that wouldn’t be an issue (the same can’t be said for Toronto), meaning they could likely have landed another asset along with Murray from the Senators.

Colorado Avalanche Acquire Alexandar Georgiev

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The Colorado Avalanche have found a new goaltender. The New York Rangers have traded Alexandar Georgiev to the Avalanche in exchange for a 2022 third-round pick, a 2022 fifth-round pick, and a 2023 third-round pick.

This means that Darcy Kuemper is no longer expected to re-sign in Colorado, as the Avalanche go with a cheaper option to pair with Pavel Francouz. Georgiev, 26, is a pending restricted free agent due a qualifying offer of $2.65MM and is eligible for arbitration. Even if he landed a good settlement, it won’t match what Kuemper will likely be able to command on the open market, especially in a year with such a shallow pool of free agent goaltenders.

Interestingly enough, it appeared as though the Rangers were not going to issue that qualifying offer, which would have made Georgiev a free agent next week. With Igor Shesterkin in place and several free agents to sign, the team was expected to walk away from their backup if they couldn’t find a trade partner. By landing three picks, general manager Chris Drury has squeezed quite a bit of value out of the last few days of Georgiev’s tenure in New York.

In fact, his time there has been incredibly valuable, relative to the cost that the Rangers paid. Signed as an undrafted free agent in 2017, Georgiev played three seasons with the team under an entry-level contract, two more with a cap hit of $2.45MM, and now netted them three draft picks before he walked out the door.

With a .909 save percentage in 131 NHL games, he doesn’t have a huge track record of success but there have been flashes of brilliance from the netminder, skill the Avalanche will hope to nurture in Colorado. The fact that Francouz has shown the ability to perform at a high level can make them a worthwhile tandem, not to mention the fact that the team itself has been able to overcome poor goaltending performances in the past.

For Colorado, with this core, it’s time to push all the chips to the middle and try to repeat. The team now has no draft picks until the sixth round this year, and are already without six future picks as well. Given the relative youth of so many key players they can afford it, though a gap in prospect development like that can be a tough thing to overcome down the road.

Still, this leaves more money open for some of their other free agent negotiations. Nazem Kadri (UFA), Valeri Nichushkin (UFA), and Artturi Lehkonen (RFA) all played huge parts in the team’s Stanley Cup win, and are deserving of big raises this summer. With a goaltending tandem that could very well cost less combined than Kuemper will make on his own, there are a few more dollars to go around.

Photo courtesy of USA Today Sports Images

Pittsburgh Penguins Extend Kris Letang

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The Pittsburgh Penguins will almost certainly be the only team Kris Letang ever plays for. The team announced a six-year, $36.6MM contract extension for the star defenseman, keeping him away from unrestricted free agency and likely taking him through retirement. General manager Ron Hextall released the following statement:

Kris epitomizes what it means to be a Pittsburgh Penguin. The role he plays on our team is irreplaceable, he is a leader in our locker room, and has made countless contributions to the organization over the last 15-plus years, which includes three Stanley Cup Championships. We are thrilled to make him a Penguin for life.

Letang, 35, will now carry a $6.1MM cap hit through the 2027-28 season, keeping him the Penguins’ highest-paid defenseman. Still, that number is much lower on a per-year basis than what he could have landed on the open market, or even than the $7.25MM he has carried for each of the last eight years.

The risk is obviously that Letang is already in his mid-thirties and could at any point, see a drastic decline in his performance. That hasn’t happened yet, as he actually set a career-high with 68 points this season, finishing seventh in Norris Trophy voting. For his career, Letang now has 650 points in 941 games, meaning he’ll reach the 1,000-game mark (and potentially the 700-point mark) if he stays healthy for the upcoming campaign.

Perhaps more importantly, this deal will not qualify for the lessened 35+ contract restrictions that were added in the 2020 CBA update. Pierre LeBrun of The Athletic reports the salary breakdown will be as follows:

  • 2022-23: $8.0MM
  • 2023-24: $8.0MM
  • 2024-25: $6.2MM
  • 2025-26: $4.8MM
  • 2026-27: $4.8MM
  • 2027-28: $4.8MM

That front-loaded nature means that the full cap hit will be applied to the Penguins even if Letang retires before finishing the deal. While it gives the team some added flexibility in the coming years, it could very well be an anchor down the road.

The argument of course for the Penguins is that by then, Sidney Crosby will not be as effective (if he’s even still playing) and the team will no longer be trying to compete for the Stanley Cup. At that point, it doesn’t really matter if there is a large cap charge for a declining Letang, while the team goes through the inevitable stage of rebuilding. For now, this gives them the best chance at contending in 2022-23, the focus for Hextall and the new ownership group.

Teams Debating Jake Oettinger Offer Sheet

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For years, there was talk of offer sheets without any actual action. That’s changed recently, with the competing offers between the Montreal Canadiens and Carolina Hurricanes for Sebastian Aho and Jesperi Kotkaniemi. Now, when offer sheets are brought up, they at least can’t be dismissed entirely.

That’s why this morning’s report from Pierre LeBrun of The Athletic that teams around the league are debating the merits of a Jake Oettinger offer sheet is so intriguing. The young goaltender showed this postseason that he is ready to step into the limelight as a star, posting a .954 save percentage in seven games, almost dragging the Stars past the Calgary Flames in the first round by himself.

With Jason Robertson also a restricted free agent and a few other spots to fill, the Stars have a limited amount of cap flexibility to work with, which could make an Oettinger offer sheet more appealing for some teams. It doesn’t make much sense to sign a player to one without real hope that it might not be matched.

That can draw the ire of opposing managers who are trying to keep contracts low with their young RFAs. In fact, that’s what happened in the Aho situation, with the Hurricanes quickly matching only to retaliate down the road.

So if you’re going after Oettinger, it’s going to have to be a deal that the Stars will have trouble matching, or at least reach the level of compensation to make them hesitate.

The compensation thresholds this year are:

$1,386,490 or less No compensation
$1,386,491 to $2,100,472 Third-round pick
$2,100,473 to $4,201,488 Second-round pick
$4,201,489 to $6,302,230 First and third-round picks
$6,302,231 to $8,402,975 First, second and third-round picks
$8,402,976 to $10,503,720 Two firsts, a second and third-round picks
Over $10,503,721 Four first-round picks

Check here for a more detailed explanation. 

Coming off his entry-level deal and not eligible for arbitration, the Stars could normally keep the netminder’s contract relatively low, especially with a short-term bridge deal. An offer sheet then becomes basically the only leverage that Oettinger’s camp has, meaning these whispers could just be a negotiating tactic.

Remember, teams must use their own draft picks for compensation, not selections that have been acquired from other clubs. It also can’t happen until he actually reaches RFA status on July 13.

Ottawa Senators Expected To Push For Claude Giroux

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With the Florida Panthers still hoping to try and re-sign him and several other teams waiting for their chance, Claude Giroux is a wanted man. One team that most might not have expected is the usually tight-budgeted Ottawa Senators, who have emerged as a “legitimate option” for the veteran forward according to Pierre LeBrun of The Athletic.

Not expected, until one is reminded that Giroux grew up and played his minor hockey in the area, and still has strong ties to Ottawa. The 34-year-old would be a huge splash for an organization that is trying to claw its way out of the rebuilding stage and contend for a playoff spot once again.

After buying out Colin White, the team has plenty of money and cap space to go after someone like Giroux, and could offer him a chance to play with young talents like Brady Tkachuk or Tim Stutzle. The veteran forward has played mostly wing the last few years but also has tons of experience in the middle, meaning he and Stutzle–just learning the center position himself–could share responsibilities, as right and left-handed options on the same line.

They won’t be the only team after Giroux though. He still put up 65 points in 75 games this season, including an outstanding 23-point run with the Florida Panthers after a midseason trade. There’s enough skill there to be a difference-maker for the Senators or any team at both even-strength and on the powerplay, even if he’s not going to be the 100-point player he was in his prime.

Photo courtesy of USA Today Sports Images

Ottawa Senators Sign Dillon Heatherington

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The Ottawa Senators have completed a bit of work on draft day, signing Dillon Heatherington to a two-year, two-way extension. The deal will carry an average annual value of $762.5K, paying him $750K at the NHL level in 2022-23, and $775K in 2023-24. The contract also includes minor league salaries of $325K in both years.

Senators general manager Pierre Dorion released the following statement:

Dillon’s leadership this season was key to helping our defensive prospects in Belleville grow as players. He was a player we quickly identified that would be key to Belleville’s success moving forward. He filled in capably for us in Ottawa last year and showed us he has the smarts and high hockey IQ necessary to be an NHL defenceman.

Heatherington, 27, has just 20 games of NHL experience under his belt and would have been an unrestricted free agent in a few days. Instead, he’ll stick around in Belleville, where he racked up 13 points in 45 games this season. While he may also get a handful of games with the NHL club, there are a number of players ahead of him on the depth chart, meaning this is a move for AHL depth more than anything.

Though he’s never had a one-way deal in his career, the two-year term of this new contract will provide Heatherington with some career stability. It also comes with a very healthy minor league salary, a raise over the $250K he made last season.

Pittsburgh Penguins Expect To Sign Kris Letang

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There wasn’t much hesitation in Ron Hextall today as he met with the media, explaining to reporters including Chris Johnston of TSN that he would be “surprised” if they didn’t sign Kris Letang to an extension. Hextall hopes to have it done by the time they leave Montreal, where the hockey world is congregating for tomorrow’s draft.

On Evgeni Malkin, the team’s other franchise icon closing in on unrestricted free agency, Hextall said they are “still working” but didn’t share any other details.

Letang, 35, is still an extremely effective player and is actually coming off the best offensive season of his career. With 68 points in 78 games, racking up a career-best 171 hits, and still averaging close to 26 minutes a night, he finished seventh in Norris Trophy voting.

The three-time Stanley Cup champion is arguably more important to the Penguins than Malkin, at least in terms of this current championship window, as there is no internal option to fill the hole that Letang’s departure would leave. The team would have to look outside the organization, and players of his caliber obviously don’t hit the open market very often.

That’s also why a contract for Letang could still have a big number attached to it, meaning a multi-year extension carries quite a bit of risk for the Penguins. The team will be married to this aging core, meaning if he or Sidney Crosby takes a step back in effectiveness, any thought of contending for the Stanley Cup would likely go out the window.

Still, that’s likely the case even if Letang left in free agency, as the Penguins’ results are really tied to Crosby’s career at this point. Pushing in for a player you know and love–and also one who has spent his entire career in Pittsburgh–always did seem like the prudent option, even if it will mean committing lots of money to an aging talent.

Photo courtesy of USA Today Sports Images

Bryan Marchment Dies At 53

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The draft festivities in Montreal have been clouded today by the death of former NHL defenseman Bryan Marchment. The Associated Press spoke with agent Rick Curran, who confirmed that Marchment has passed, though a cause of death was not immediately available. He was 53.

Marchment was in Montreal as a scout for the San Jose Sharks, an organization for which he has held various roles since 2007. A veteran of more than 900 games in the NHL, he last played during the 2005-06 season for the Calgary Flames and also suited up for the Sharks, Toronto Maple Leafs, Colorado Avalanche, Tampa Bay Lightning, Edmonton Oilers, Chicago Blackhawks, Hartford Whalers, and Winnipeg Jets during a long career.

Bryan was the father of Florida Panthers forward Mason Marchment, who is set to become an unrestricted free agent next week for the first time. Jake Marchment, his nephew, was also a draft pick of the Los Angeles Kings in 2014.

Latest On Darcy Kuemper

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The Colorado Avalanche are pushing to re-sign several of their pending unrestricted free agents, including goaltender Darcy Kuemper. Pierre LeBrun of The Athletic reports that Avalanche general manager Joe Sakic met with Kuemper’s representatives this morning in Montreal, and though there is no agreement yet, both sides want to continue talking as we inch toward free agent frenzy.

Kuemper, 32, is one of only four real UFA goalies who represent starting options, along with Marc-Andre Fleury, Ville Husso, and Jack Campbell (though each has their own question marks). Given his performance in the playoffs–good, but not great–it would certainly make sense for him to stay put, where the powerhouse Avalanche squad can provide the best chance at another championship.

Still, the Avalanche likely don’t want to give out the same money or years that Kuemper might be able to land elsewhere, since they have some other huge names to sign this year and next. Valeri Nichushkin and Artturi Lehkonen stand out this year (assuming Nazem Kadri has priced himself out), while Nathan MacKinnon will be signing a massive extension.

That same situation played out last summer when Philipp Grubauer landed a massive deal from the Seattle Kraken that the Avalanche couldn’t match. They needed the money to keep Gabriel Landeskog and proved they could win with a different goaltender. With that history in mind, Kuemper’s camp will know that Sakic is willing to walk away if the number gets too high.

Though it’s unclear what would be Colorado’s next move if it happens, LeBrun writes that people around the league see the Avalanche as the “perfect landing spot” for Fleury, should Kuemper go elsewhere in free agency.

Capitals Notes: Backstrom, Goaltending, Draft

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When the Washington Capitals announced that Nicklas Backstrom had hip surgery, speculation erupted that the 34-year-old forward could potentially be on his way to semi-retirement, sitting out the last few years of his contract and heading to long-term injured reserve. Not so fast, says general manager Brian MacLellan:

I think everybody is happy–the trainers, the doctors–with the surgery and the results of the surgery. It is Nick’s intention to come back and play at some point this year. 

While the timeline for that return is still unclear, MacLellan made a point to explain that the team won’t be looking to use his cap space as if it were staying on LTIR the whole year. Instead, they will look to their young players to step up in his absence and carry the ship until he returns.

  • Backstrom has a $9.2MM cap hit through the 2024-25 season and will turn 35 in November. If he was ruled out for the year, moving his contract to LTIR would provide a ton of flexibility for the team in free agency, allowing them to go after not only his replacement but potentially a veteran goaltender as well. MacLellan confirmed that the team will issue qualifying offers to both Vitek Vanecek and Ilya Samsonov but that the position is not settled. In Pierre LeBrun’s latest for The Athletic, he even writes that he wouldn’t be surprised if they have checked in on Jack Campbell.
  • There have been talks about nearly every draft pick in the first round it seems, and Washington’s No. 20 is no different. MacLellan explained that the idea of moving it has been discussed but that they are more likely to just hold onto that spot and make a selection. The Capitals didn’t have a first-round pick a year ago but have actually done a pretty good job of keeping their top selections over the years, despite being in a perpetual state of contending for the Stanley Cup.

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