Artemi Panarin Signs With New York Rangers
After the Columbus Blue Jackets, New York Islanders, Florida Panthers and Colorado Avalanche all made huge pitches to try and convince Artemi Panarin to join their squads, it ends up being the New York Rangers who will acquire his services moving forward. The Rangers have agreed to terms on a seven-year, $81.5MM deal with Panarin.
Panarin, 27, was the consensus No. 1 in our Top 50 UFAs this season, and will immediately become the highest-paid winger in the entire NHL. His cap hit is will be more than $1MM higher than Patrick Kane‘s $10.5MM from several years ago and well ahead of the recent market set by Nikita Kucherov and Mark Stone at $9.5MM. Part of that is the fact that he actually got to unrestricted free agency, but there is good reason to think he will be able to perform at a high level for quite some time.
In the four years he has played in North America, the originally undrafted Panarin has only gotten better. Setting a career-high with 87 points last season in just 79 games, he proved that he could create offense with any type of linemate and established himself as a legitimate superstar in the NHL. That’s exactly what the Rangers were waiting for and have now had quite the summer. They had already traded for both Adam Fox and Jacob Trouba to improve their blue line, and drafted Kaapo Kakko second overall. Panarin’s contract is extremely expensive, but also puts the Rangers in line to compete for the playoffs as soon as next season.
This is a team that just over a year ago sent a letter to fans explaining that they were going to have to trade some “familiar faces, guys we all care about and respect” but were committed to building a Stanley Cup contending team. In such a short time the team has dealt away Ryan McDonagh, J.T. Miller, Jimmy Vesey, Rick Nash, Nick Holden, Adam McQuaid, Mats Zuccarello, Neal Pionk, Kevin Hayes and Michael Grabner in order to set themselves up with an almost unmatched prospect pipeline and a great chance of success in the future.
Now, after finishing near the bottom of the league and picking second overall, the rebuild is finished in New York. Panarin’s deal ushers in the next phase that will include competing for the playoffs. That doesn’t necessarily mean they’re finished trading though, as Chris Kreider and Vladislav Namestnikov remain just a year away from unrestricted free agency and may not be considered key parts moving forward.
Keith Kinkaid To Sign With Montreal Canadiens
The Montreal Canadiens will bring in some competition to battle Charlie Lindgren for the right to back up Carey Price next season, as Bob McKenzie of TSN confirms Keith Kinkaid will sign a one-year contract with the team.
Kinkaid, 29, ended up playing in 41 games for the New Jersey Devils last season before a deadline deal took him to the Columbus Blue Jackets as an insurance goaltender. At one point during 2017-18 it looked like he was ready to steal the job from Cory Schneider and establish himself as a full-time starter in the NHL, but that idea is now in the past after his struggles in 2018-19.
Those numbers were definitely disappointing. While equaling the 41 games played from his previous year, Kinkaid finished with a 15-18-6 record, while allowing an extra 23 goals in almost the same amount of minutes. He finished with a 3.36 GAA and .891 save percentage and now must prove that he can beat out Charlie Lindgren next year or end up as the team’s third goaltending option.
Buffalo Sabres Acquire Jimmy Vesey
The Buffalo Sabres have acquired Jimmy Vesey (again), this time sending a 2021 third-round pick to the New York Rangers. Buffalo had previously traded for Vesey’s negotiating rights in 2016 from the Nashville Predators—coincidentally sending a third-round pick that time too—but he decided not to sign with them and became a free agent after his college career. Vesey currently has just one year remaining on his current contract which carries a $2.275MM cap hit and is scheduled to become a UFA once again in the summer of 2020.
While obviously this will immediately spark more speculation about the Rangers’ pursuit of Artemi Panarin, Buffalo has been chasing Vesey for some time. The Rangers already had enough cap space to fit in the top free agent if they wanted, meaning this is likely just cashing in on an expiring asset. New York have several young forwards ready to step into bigger roles and Vesey was obviously not part of the long-term plan.
Now 26, Vesey hasn’t had quite the impact many hoped he would coming out of Harvard University but is still a solid offensive contributor. Scoring at least 16 (and at most 17) goals in each of his three seasons, he should add a bit of depth scoring to the Sabres as they try to push for a playoff spot this season. Buffalo is now missing their third-round picks for each of the next two seasons, but after adding some more young talent at the draft this year they are ready to start competing instead of rebuilding.
Dallas Stars Sign Andrej Sekera
The Dallas Stars will add a pair of veteran forwards when free agency opens in just over an hour, and are now expected to bring in some experience on defense as well. Bob McKenzie of TSN reports that the Stars will sign Andrej Sekera to a one-year contract later today. Sekera was recently bought out by the Edmonton Oilers and will be earning $1.5MM from them in each of the next four seasons. Elliotte Friedman of Sportsnet reports that the deal will be $1.5MM in salary with an additional $500K in potential performance bonuses. Though Sekera isn’t 35 yet, he spent enough time injured last season to be eligible for bonuses.
Sekera, 33, has played just 60 games for the Oilers over the last two seasons but looked like his game was starting to turn around at the end of the year. If he can recover any of the ability that made him a 44-point defenseman in 2013-14 for the Carolina Hurricanes the Stars will have a bargain on their hands, but that is far from certain. Dallas already has most of their defense corps set but were a little thin at the fringes.
The question now will be what happens to young Julius Honka, who needs a new contract but hasn’t been able to find a fit with the Stars since being selected 14th overall in 2014. Through 87 games in the NHL Honka has just 13 points, and may not have much of an opportunity in Dallas if Stephen Johns is able to return from injury this season.
PHR Free Agent Frenzy Live Chat Transcript: 07/01/19
Click here to read a transcript of the special free agent frenzy live chat with PHR’s Gavin Lee.
Toronto Maple Leafs Trade Nikita Zaitsev
The Toronto Maple Leafs and Ottawa Senators have finalized a trade that will see Nikita Zaitsev and Cody Ceci swap teams. The Maple Leafs will send Zaitsev, Connor Brown and Michael Carcone to the Senators in exchange for Ceci, Ben Harpur, Aaron Luchuk and a 2020 third-round draft pick (originally from Columbus). The trade had to wait until today so that Toronto could pay out Zaitsev’s $3MM signing bonus, though technically that also meant he needed to waive the partial no-trade clause that has kicked in.
Zaitsev, 27, has five years left on his current contract and carries a $4.5MM cap hit, something the Maple Leafs needed to get out from under as they continue to work on an extension for restricted free agent Mitch Marner. The Russian defenseman signed a long-term deal with the club after an excellent rookie season in 2017 but saw his offensive numbers regress drastically as head coach Mike Babcock used him more and more in a shutdown role. That role never seemed like a perfect fit for the smooth-skating Zaitsev, who is used much more offensively at the international level with the Russian national team.
A capable penalty killer, he immediately becomes the Senators’ most expensive defenseman and reunites with former Maple Leafs assistant coach D.J. Smith who is now the boss in Ottawa. Zaitsev will likely be leaned on heavily for the Senators, who have plenty of inexperience on their blue line at the moment.
If not for this trade Ceci, 25, would have become the highest paid defender for the Senators as he was a year ago. Sitting currently as a restricted free agent he does have the option to file for salary arbitration but could also just elect to accept his $4.3MM qualifying offer. That may be the more prudent decision in this case, as heading to arbitration likely gives the Maple Leafs a chance to walk away from the decision altogether. It’s not clear what Toronto’s plans for Ceci are at this point.
Of the other pieces in the deal, Brown is clearly the most valuable. The bottom-six forward is heading into the final year of his current contract that carries a $2.1MM cap hit but is a useful player that can contribute in various situations. A 20-goal scorer as a rookie in 2016-17, the last two seasons have seen his goal totals drop dramatically as more talent was brought into the Toronto lineup. The sixth-round pick eventually found himself suiting up most nights on the fourth line, though he was still a favorite of Babcock’s on the penalty kill. The 25-year old will likely receive a bigger opportunity in Ottawa and could set himself up for another solid contract next summer with some improved offensive numbers.
Ottawa GM Pierre Dorion released a statement on his newest players:
“We’re bringing in highly competitive players that we like as long-term fits for our team. Both are the type of true professionals who match with the culture we want to put in place here in Ottawa,. Nikita is a physical right-shot defenceman who defends hard, fills lanes and blocks shots. Connor has scored 20 goals in the league and is excellent on the forecheck and the penalty kill. We feel both players will add to our depth and fit well within the structure we want our team to play.
Photo courtesy of USA Today Sports Images
Columbus Makes Late-Night Push To Re-Sign Artemi Panarin
11:30pm: Midnight has come and gone in the eastern time zone without an announced contract for Panarin. The Blue Jackets can now only offer him a seven-year contract like any other team. Adrian Dater of Colorado Hockey Now reports that the Avalanche also offered a six-year, $70MM ($11.67MM AAV) deal to Panarin, though Elliotte Friedman of Sportsnet was told an even higher amount.
9:39pm: For most of the last year, all signs pointed to Artemi Panarin leaving the Columbus Blue Jackets for another team on July 1 as the top free agent available. The Florida Panthers had been rumored for months to be interested in acquiring his services, and then earlier today a report surfaced that he might be heading to the New York Islanders instead. Now in a late-night push the Blue Jackets have put their best offer on the table, one that Aaron Portzline of The Athletic (subscription required) reports is believed to be for eight years at an average annual value of $12MM. The Athletic’s Pierre LeBrun has heard the same, though Portzline suggests it could be even higher than that.
Panarin was the consensus top choice in our Top 50 UFAs this season, and is a superstar talent that can create offense all on his own. The most interesting part of the offer is that the Blue Jackets can only technically offer an eighth year until midnight (EST), after which they would be in the same position as any other team only able to offer seven seasons. With reports surfacing that the Blue Jackets’ other top free agents, Matt Duchene and Sergei Bobrovsky will be leaving town, it is obvious that GM Jarmo Kekalainen wanted to take one more crack at keeping one of his stars.
Currently the highest paid player in the league is Edmonton Oilers forward Connor McDavid who signed an eight-year, $100MM deal quickly after becoming eligible for an extension. Panarin though would easily become the highest paid winger in the league with a deal like this, and shatter the market set by players like Mark Stone and Nikita Kucherov in recent years. Patrick Kane, who signed his current deal back in 2014, currently carries a $10.5MM cap hit while Alex Ovechkin is more than a decade into his 13-year contract which carries a cap hit of $9.54MM.
UFA Notes: Donskoi, Benn, Varlamov
Free agent frenzy came early this year, with details leaking out on many of the top names a day early. Teams are not supposed to actually discuss specific financials, but cap hits and terms have poured out all evening. Elliotte Friedman of Sportsnet tried to summarize all of the day’s leaks and also reported some new information on a few names. One of those is Joonas Donskoi, who is still expected to sign with the Colorado Avalanche for an average annual value between $3-4MM. Friedman doesn’t give a suggestion on the term of the deal.
Donskoi ranked 21st on our list of the Top 50 UFAs after a quietly effective campaign, where we projected him to sign a three-year, $9.6MM deal with the Avalanche. The former San Jose Sharks forward may be able to outperform even that if given a bigger role in Colorado alongside some of their other talented forwards. Some other notes on pending free agents:
- Tyler Myers and Jordie Benn are both expected to sign with the Vancouver Canucks according to Friedman, though obviously nothing is finalized until tomorrow afternoon. Myers has been linked to the Canucks for some time and may very well challenge for the biggest contract given out to a defenseman tomorrow. Benn meanwhile is also coming off a career season and has set himself up for a nice payday, though it shouldn’t come close to the money handed out to Myers. Vancouver allowed Derrick Pouliot and Ben Hutton to hit the market by not issuing them qualifying offers, and apparently have already found some veteran replacements.
- The league-wide game of goalie musical chairs continues, with Friedman suggesting that Semyon Varlamov could be heading to the New York Islanders. The Islanders have been unable to come to terms with pending free agent netminder Robin Lehner despite his outstanding season, and since it looks like they missed out on Sergei Bobrovsky as well they needed an established goaltender to come in and help Thomas Greiss next season. No details on what Varlamov will be signing have emerged yet, but we projected just a two-year, $6.5MM deal for him in our ranking.
Vancouver “Still In The Mix” For Gustav Nyquist
The Vancouver Canucks have had quite the interesting offseason so far, highlighted by the retirement of Roberto Luongo placing more than $3MM of cap recapture penalties on their books. To combat that the team placed will buy out Ryan Spooner to open up some more cap space for potential free agent signings and new contracts for their own RFAs. While Vancouver has been routinely linked to free agent defenseman Tyler Myers, Rick Dhaliwal of Sportsnet reports that the team is currently “still in the mix” for Gustav Nyquist as well.
Nyquist, 29, was acquired by the San Jose Sharks at the deadline and fit in quite well with them, scoring 22 points in 39 games including a solid postseason. Even with the good fit he may end up being too pricey for the team to retain after they made Erik Karlsson the highest-paid defenseman in the league and need to get Timo Meier under a new deal. That opens him up for a bidding war on the open market as one of the top second-tier free agent forwards, something Vancouver is obviously interested in.
Coming off a four-year $19MM deal signed with the Detroit Red Wings in 2015, Nyquist is undoubtedly looking for a raise on the $4.75MM cap hit he carried last season. After recording a career-high 60 points his market won’t be small, and there has been plenty of speculation on where that might lead him. Elliotte Friedman of Sportsnet suggested recently that the Columbus Blue Jackets may be a fit, which would make sense given Aaron Portzline of The Athletic’s reporting (subscription required) that they have been focused on free agent forwards.
If Vancouver does get involved with Nyquist, they’re going to have to make sure they don’t overextend themselves while Brock Boeser is still without a contract. The 22-year old forward should be getting a healthy raise on whatever deal he signs, and is much more important to the team’s future than a free agent forward who will be 30 before the season begins.
Mark Letestu Linked To New York Rangers
In any successful NHL organization, minor league development systems are incredibly important. Some of that is based on the coaching staff and playing opportunity, but many believe that some level of success is also required to prepare young players for the next level. That’s why teams go out and sign veteran minor league options on day one of free agency, even if bigger names are still out there. That’s exactly what might happen with Mark Letestu, who is looking for a two-way contract and has now been linked to the New York Rangers by both Larry Brooks of the New York Post and Aaron Portzline of The Athletic. Letestu plans on playing somewhere this season as he comes off his first minor league season in a decade.
Now 34, Letestu suited up 72 times for the Cleveland Monsters of the AHL last season and was their best player on many nights. The veteran center ended up with 50 points in the regular season and another five in the playoffs, showing that he certainly isn’t finished just yet. There was a time not too long ago that Letestu was a solid depth option for the Columbus Blue Jackets and Edmonton Oilers, routinely scoring double-digit goals and somewhere around 30 points. His transition to the minor leagues would only help the Hartford Wolf Pack, who finished dead last in the Atlantic Division last season with a 29-36-11 record.
Letestu obviously has a connection with new Rangers president John Davidson, who joined New York after years building the Blue Jackets into a solid organization from top to bottom. Brooks suggests that the team could offer the pending free agent forward a minor league guarantee between $400-500K given there is no salary cap at that level, a strategy that he believes may be brought up in the next CBA talks.