Taro Hirose Re-Signs With Detroit Red Wings
The Detroit Red Wings have re-signed pending UFA Taro Hirose to a one-year deal, keeping him in the organization. Hirose qualified for Group VI unrestricted free agency after playing in only 42 games for the Red Wings over the last three seasons. PuckPedia reports that the two-way deal is worth $850K at the NHL level, $190K at the AHL level and includes a minor league guarantee of $220K.
Hirose, 25, was an undrafted college free agent signed out of Michigan State University in 2019, and wowed down the stretch in his first professional season. With seven points in his first ten games, it looked like the Red Wings had found a legitimate middle-six option for nothing more than an entry-level contract. As with so many players though, that early success quickly faded, and Hirose recorded just seven points in 26 games the following season. He played just six in a Red Wings uniform during 2020-21.
Still, keeping a player with 16 points in 42 NHL games around for depth purposes isn’t a bad thing, especially when he has been such a big part of the AHL attack. In 29 games for the Grand Rapids Griffins this season, Hirose racked up 28 points. While he may never turn into a full-time NHL option, a one-year deal comes with basically no risk for the Red Wings, who can move him in and out of the lineup whenever necessary.
Alex Ovechkin Re-Signs With Washington Capitals
It was never really in doubt, but Alex Ovechkin is returning to the Washington Capitals. The legendary forward announced his own extension, which will total $47.5MM over five years ($9.5MM AAV). Ovechkin was a pending unrestricted free agent but has spent his entire career in Washington and was not expected to sign anywhere else.
Capitals CEO Ted Leonsis released a statement:
Alex is a world-class athlete who will forever be regarded not only for leading the team to achieve our ultimate goal of winning the Stanley Cup, but also for inspiring the next generation of fans and youth players. The impact Alex has had on hockey in D.C. extends well beyond Capital One Arena. His performance on the ice has undoubtedly sparked countless new fans of the game and inspired more youth players to lace up skates of their own. Off the ice, Alex’s impact is equally unmatched. Not only is he committed to the franchise, but also to the community, and we look forward to seeing him in the Capitals uniform for years to come.
Pierre LeBrun of The Athletic reports the full structure of the deal:
- 2021-22: $1.0MM salary + $4.0MM signing bonus
- 2022-23: $1.0MM salary + $9.0MM signing bonus
- 2023-24: $1.0MM salary + $11.5MM signing bonus
- 2024-25: $5.0MM salary + $6.0MM signing bonus
- 2025-26: $5.0MM salary + $4.0MM signing bonus
CapFriendly adds that the contract contains a full no-move clause and a 10-team no-trade clause in each season.
Getting a good chunk of salary on the last two years would have been important to the Capitals, as an early retirement would not remove the cap hit from the books, given the age at which Ovechkin is signing. There’s obviously now a financial incentive for him to play out the full deal, though his loyalty to the Capitals organization has never been in doubt.
Now 35, Ovechkin will almost continue to carry the exact same cap hit he has for the past 13 years. In 2008 he signed a 13-year, $124MM contract with the Capitals, which carried a cap hit of $9, 538,462. That was nearly 19% of the salary cap at that point, but it was certainly worth it for a player that will go down as arguably the greatest goal-scorer of all time. In fact, Ovechkin needs to average just 33 goals a season over this five-year deal to pass Wayne Gretzky‘s record 894 goals.
It’s hard to know if that’s a possibility for a player at his age, but it’s not like Ovechkin has really slowed down in recent years. He has won the Rocket Richard trophy as the league’s top goal-scorer seven out of the past nine seasons and even in a year interrupted by COVID, he had 24 goals in 45 games during 2020-21. Nearly a point-per-game player still, his place at the top of the Capitals lineup or on the left side of the first powerplay unit will never be in doubt, even as he moves into his late-thirties.
It’s a race for the record now, but Ovechkin and the Capitals also have their sights set on a second championship. The team finally lifted the Stanley Cup in 2018, 14 years into his marvelous career. With a core locked up for the next several years—Nicklas Backstrom, John Carlsson, Evgeny Kuznetsov and T.J. Oshie are all signed through at least 2024-25—they’ll keep trying to climb that mountain again as their captain nears the end of his career.
Pavel Buchnevich Signs With St. Louis Blues
The St. Louis Blues quickly got to work with newcomer Pavel Buchnevich, agreeing to terms on a four-year, $23.2MM deal with the restricted free agent forward. The contract will carry an average annual value of $5.8MM, giving him quite the raise after an exceptional season.
This kind of cap hit is exactly why the New York Rangers traded Buchnevich recently, as they were never going to be able to afford a raise of that magnitude–at least not with the way they want to fill out the roster. The 26-year-old was eligible for salary arbitration and is coming off an outstanding offensive campaign that included 20 goals and 48 points in 54 games.
Over the last three seasons, in fact, Buchnevich has scored at an 82-game pace of 25 goals and 58 points, while also carrying a heavy load on the penalty kill. That kind of versatility, adding defensive value as well as offensive upside, is exactly what the Blues are looking for as they say goodbye to several of their other key forwards. Vladimir Tarasenko is expected to be traded, while Jaden Schwartz, Tyler Bozak, and Mike Hoffman are all pending unrestricted free agents. Buchnevich can slide into one of the top two lines to replace some of that outgoing talent while potentially even improving over the next few seasons.
This deal buys out four years of unrestricted free agency and takes Buchnevich through his age-30 season, a perfect window for the Blues to purchase as they look to contend for the Stanley Cup. If he works out and continues his high level of play they can extend him down the road, without ever really risking the decline phase on this contract. That was never really going to be the case in New York, where younger wingers were going to need playing time and extensions before long.
Conor Garland Signs With Vancouver Canucks
The Vancouver Canucks have inked newcomer Conor Garland to a five-year deal that will carry an average annual value of $4.95MM. The young forward was recently acquired from the Arizona Coyotes and was an arbitration-eligible restricted free agent. Canucks GM Jim Benning released a short statement on the deal:
We’re pleased to have reached a long-term deal with Conor today. He’s a skilled young player, who plays hard, produces offensively and will complement our top-six forward group.
PuckPedia provides the full contract breakdown, which does not include any trade protection:
- 2021-22: $3.75MM
- 2022-23: $4.0MM
- 2023-24: $6.0MM
- 2024-25: $6.0MM
- 2025-26: $5.0MM
It’s hard to imagine the Coyotes couldn’t have afforded this contract for Garland, which buys out three UFA seasons at a pretty reasonable price. Instead, they used Garland’s upside as a way to get out of Oliver Ekman-Larsson‘s contract, all for the benefit of the Canucks. The 25-year-old has been the most important forward in Arizona for the last two years, registering 39 points in just 49 games this season. Shifty, creative and skilled, the 5’10” Garland should step directly into the Canucks’ top-six and make an impact offensively.
For just under $5MM, the Canucks can’t afford him to take a step backward, given how much other money they’ll have to commit elsewhere. This is the player they’ve decided to invest in, as a good chunk of their remaining camp space will be owed to Elias Pettersson and Quinn Hughes, both restricted free agents waiting on new contracts. If the team can get a deal done to send Nate Schmidt packing they’ll have a little more to spend, but there are legitimate depth issues all over the roster that need to be filled as well.
So Garland is the play, and he’s certainly a good one to bet on right now. He not only excelled with increased responsibility in Arizona, but then went and dominated at the recent World Championships as part of Team USA. In ten games, he scored six goals and 13 points, trailing only Connor Brown in tournament scoring.
Photo courtesy of USA Today Sports Images
Edmonton Oilers To Buy Out James Neal
The Edmonton Oilers have placed James Neal on unconditional waivers today for the purpose of a buyout. He joins Martin Jones and Braden Holtby as three players bought out just as the first window expires. The Oilers will be on the hook for four seasons of cap penalties after the buyout is executed. The cap hits will be as follows:
- 2021-22: $1,916,667
- 2022-23: $1,916,667
- 2023-24: $1,916,667
- 2024-25: $1,916,667
Neal, 33, was once one of the most consistent goal-scorers in the NHL, recording ten straight seasons of at least 21 goals to start his career. He even reached 19 during the 2019-20 season with Edmonton, though 12 of them were on the powerplay and 14 came in the first 26 games of the season. Neal managed just five goals and ten points in 29 games this year for the Oilers, essentially losing his roster spot to other, cheaper forwards. The buyout today only confirms that, as the team moves in another direction.
Edmonton decided not to buy out Mikko Koskinen, but the Neal transaction will open up nearly $4MM in cap space that they can use moving forward. With Adam Larsson on to Seattle, the team is in dire need of a right-shot defenseman to play in the top-four, along with several forwards to help take some of the pressure off Connor McDavid and Leon Draisaitl. Neal was no longer going to be able to fill that role, meaning he had to go one way or another.
Still, it’s going to be tough looking down at a $1.9MM cap hit three years from now, when the cap still might not have increased at all and the Oilers are nearing the end of the contracts with their two stars. It was a necessary move to compete in the short-term, but having Neal on the books for four years is going to be painful.
Photo courtesy of USA Today Sports Images
San Jose Sharks To Buy Out Martin Jones
The goaltending carousel continues today, as Pierre LeBrun of The Athletic tweets that Martin Jones will be bought out by the San Jose Sharks. The veteran goaltender will be placed on unconditional waivers today as the first buyout window comes to a close. With three years left on his current deal, San Jose will now be forced to carry a buyout penalty through the 2026-27 season. Those penalties will be:
- 2021-22: $1,916,667
- 2022-23: $2,416,667
- 2023-24: $2,916,667
- 2024-25: $1,666,667
- 2025-26: $1,666,667
- 2026-27: $1,666,667
Jones, 31, has been one of the worst starting goaltenders in the league over the last three seasons, posting an .896 save percentage in each campaign. Despite that poor performance, he’s still received 135 starts from the Sharks and incredibly has a winning record at 68-53-11. Even this season, despite the Sharks finishing seven games below .500, Jones still went 15-13-4. It’s entirely reasonable to suggest that the team wouldn’t be in the troubling situation they are with better goaltending, and they’ll finally get to test that theory by moving on from Jones.
The Sharks brought in Adin Hill just before the expansion draft and could hand him the reins, though bringing in another veteran goaltender to share the load is likely. Hill also needs to be signed, as he currently is a pending restricted free agent with arbitration rights. The 25-year-old netminder has just 49 games of NHL experience under his belt, though has posted a .915 save percentage over the last two seasons, a significant upgrade from the performance that Jones was providing.
What Jones’ market in free agency will look like is anyone’s guess, given how poorly he has played for the last three seasons. With so much money still being paid out by the Sharks, a short-term low-cost contract as a tandem or backup could be his best scenario to prove he can still play at the NHL level.
Chicago Blackhawks Acquire Marc-Andre Fleury
The Vegas Golden Knights are trading the first icon in franchise history. Marc-Andre Fleury, who has been the face of the Golden Knights since the expansion draft is on his way to the Chicago Blackhawks, according to Emily Kaplan of ESPN. Kaplan adds that the Golden Knights are not retaining any salary and that the Blackhawks will send just Mikael Hakkarainen in return. On a press conference later in the day, Golden Knights GM Kelly McCrimmon confirmed that though they will own the contract of Hakkarainen, he will stay with the Rockford IceHogs.
Bob McKenzie of TSN tweets that Chicago was not on Fleury’s no-trade list, and the goaltender did not want to play anywhere but Vegas. Elliotte Friedman of Sportsnet tweets that there are “rumblings” the veteran goaltender might even choose to retire due to family reasons. Jesse Granger of The Athletic adds that Fleury learned of the trade via Twitter.
Though there had been speculation about Fleury’s future in Vegas ever since Robin Lehner arrived and signed an extension with the club, this is still a stunning move just weeks after he was awarded the Vezina Trophy as the league’s best goaltender. The team has cleared his entire $7MM cap hit, giving them room to make additional moves this summer, but it’s still a hard way for the organization’s first-ever superstar to leave town.
From the moment he was selected, Fleury became the center of the Golden Knights marketing strategy given his Stanley Cup resume and outgoing personality, but he soon became much more than that. The backbone of the roster for four seasons, Fleury actually experienced his own late-career renaissance, posting stronger numbers in Vegas than he had ever registered in Pittsburgh. He finished fifth in the Vezina voting during the 2017-18 season, while leading the team to the Stanley Cup Finals in year one.
Now, at age-36, no one would blame Fleury for hanging up his pads. He sits third all-time on the NHL wins list, tenth in games played, and has now taken home the top individual and team trophies available. Going to Chicago, where there is certainly no guarantee of Stanley Cup contention, would be an odd footnote on the end of a career spent exclusively in two cities. He would however be walking away from the $6MM he is still owed, quite the complicating factor in any decision.
For Vegas, opening up this amount of cap space will lead to wild speculation about their offseason plans. The team now has more than $12MM in cap space with only Nolan Patrick to sign as a restricted free agent. Never afraid to go after the big fish, they now have enough money to pursue the top free agents or trade targets.
Photo courtesy of USA Today Sports Images
Vancouver Canucks Expected To Buy Out Braden Holtby
Another goaltender is set to hit the free agent market, as Rick Dhaliwal of CHEK TV reports that the Vancouver Canucks will buy out Braden Holtby today. Today is the last day a player could be placed on waivers for the purpose of a buyout during this first window. Holtby has one year remaining on his contract and carries a $4.3MM cap hit. With a buyout, the Canucks would clear $3.8MM of that cap this season, and incur penalties of the following:
- 2021-22: $500K
- 2022-23: $1.9MM
Holtby, 31, never did find his groove in Vancouver, posting a 7-11-3 record and .889 save percentage in 21 appearances. It’s obvious that the Canucks want to move even further toward Thatcher Demko as their full-time starter, and clearing some cap off the books this year will help fit in new contracts for Quinn Hughes and Elias Pettersson. It’s been two straight seasons of sub-.900 save percentage for Holtby, who will now be on the open market once again looking for work.
There had been some reported interest in the veteran goaltender recently, but the Canucks were obviously unable to find a trade partner before today’s buyout deadline. He now becomes a potential value add as a free agent, if a contending team is willing to bet on a bounce back. Given he’s losing just $1.9MM of the $5.7MM that was owed to him this year, it would seem logical that a team could get him around that price.
The question now is whether Holtby can get back to the level he was at a few years ago. In 2016, he won the Vezina Trophy as the league’s best goaltender, posting an incredible 48-9-7 record with the Washington Capitals. The following season he led the league again with 42 wins and nine shutouts, taking home the Jennings Trophy as the goaltender for the team with the lowest goals-against average. He finished second in the Vezina voting that year, but has not received a single vote for the award since.
It’s hard to overlook his recent struggles, but also difficult to forget how dominant Holtby was at one point in his career. Even after these two brutal years, he still has a .915 save percentage for his 489-game career. In the playoffs, he’s been even better, posting a .926 in 97 appearances, winning the Stanley Cup in 2018 with the Capitals.
Detroit Red Wings Agree To Terms With Kyle Criscuolo
The Detroit Red Wings have come to terms with one of their unrestricted free agent forwards, coming to a two-year contract extension with Kyle Criscuolo. The minor league veteran will avoid the open market and return to the organization he has spent a good chunk of his professional career with. The financial details have not yet been released.
Criscuolo, 29, wore an “A” as an alternate captain this season for the Grand Rapids Griffins, scoring 11 goals and 19 points in 29 games. The former Harvard standout has spent the majority of his career to this point in the minor leagues, getting just a nine-game taste of the NHL with the Buffalo Sabres in 2017-18. His best years have come with the Griffins, including a Calder Cup-winning season in 2016-17 when he had 41 points in 76 games. That kind of experience and success will only help the other young prospects in the Detroit pipeline as they come through the AHL locker room.
Though he will require waivers to return to the minor leagues, that shouldn’t be an issue for Criscuolo or the Red Wings. He’ll serve as organizational depth this season, while being eligible for call-up in an emergency situation.
Dmitrij Jaskin To Sign With Arizona Coyotes
The Arizona Coyotes are set to bring over a familiar NHL face, as Andy Strickland of Bally Sports Midwest reports they will sign Dmitrij Jaskin to a one-year contract. Jaskin is expected to earn $3.2MM after dominating in the KHL the last two seasons.
Though he hasn’t played an NHL game since the 2018-19 season, Jaskin’s value actually may never have been higher. The 28-year-old forward scored 69 goals and 123 points in just 117 games during his two-year KHL stint, winning the regular season MVP award for 2019-20. Those are totals he never came close to approaching during his previous 303-game NHL career, spent mostly with the St. Louis Blues. Jaskin’s career-highs were 13 goals and 18 points in St. Louis.
If it were just his NHL numbers considered, there’s no way he would earn a $3.4MM deal with the Coyotes. But the team is betting that overseas success can be reproduced (at least partially) if given the same top-six opportunity. In Arizona, there will be a chance for him to play higher up the lineup, given how clearly the team is stripping any valuable assets out of the organization. The Coyotes have acquired several big cap hits for future assets, while trading away top forward Conor Garland and captain Oliver Ekman-Larsson.
Of course, if you’re going through a rebuild, you usually aren’t bringing over high-profile free agents from the KHL. The plan here may very well be to flip Jaskin at the deadline, given the fact that Arizona isn’t expected to be competitive as currently constructed.