Hurricanes Rumors

The NHL has entered its seasonal lull where teams are done signing free agents and will wait until training camp to make major roster moves. We have already documented the off-season moves of Atlantic Division teams, and now we take a quick look at the Metropolitan Division.

Carolina Hurricanes

Key Additions: Lee Stempniak, Teuvo Teravainen, Viktor Stalberg, Bryan Bickell
Key Departures: Riley Nash, Nathan Gerbe, James Wisniewski
Unsigned RFAs: None
Cap Space: $16,736,667
Projected Roster Size: 23
Notes: Carolina got paid Teravainen to take Bickell’s contract by Chicago this summer, and added a top-ten free agent in Stempniak. The offense improved, but the defense remains an issue outside of Justin Faulk. In a stacked Metropolitan, the Hurricanes did not appear to do enough to challenge for a playoff spot.

Columbus Blue Jackets

Key Additions: Sam Gagner
Key Departures: Jared Boll, Fedor Tyutin, Justin Falk
Unsigned RFAs: None
Cap Space: $3,817,857
Projected Roster Size: 20
Notes: Despite finishing last in the Metropolitan, the Blue Jackets are up tight against the cap, and did little to alleviate their situation. The cap situation prevented the Blue Jackets from making any major additions, but the team was expected to deal some higher-paid underperformers. Without any major changes, Columbus seems destimed to miss the playoffs once again.

New Jersey Devils

Key Additions: Taylor Hall, Beau Bennett, Vernon Fiddler, Ben Lovejoy, Marc Savard
Key Departures: Adam Larsson, Jiri Tlusty, Patrik Elias, Tuomo Ruutu, David Schlemko
Unsigned RFAs: None
Cap Space: $12,319,404
Projected Roster Size: 23
Notes: The Devils made a blockbuster trade this offseason, landing Taylor Hall in exchange for Defenseman Adam Larsson. They also added two ex-Penguins in an effort to stay competitive in the Metropolitan. Elias is still deciding whether to retire, but if he returns, he says it will only be for the Devils.

New York Islanders

Key Additions: Andrew Ladd, P.A. Parenteau, Jason Chimera
Key Departures: Frans Nielson, Kyle Okposo, Matt Martin, Marek Zidlicky
Unsigned RFAs: Ryan Strome, Christopher Gibson
Cap Space: $3,658,524
Projected Roster Size: 24
Notes:  The Isles’ forward corp received a shakeup this offseason, with their 2nd and 3rd leading scorers signing elsewhere as free agents. The team signed Ladd and Chimera to plug those holes, but only time will tell if those additions allow the Islanders to build off of their rare playoff success.

New York Rangers

Key Additions: Mika Zibanejad, Nathan Gerbe, Michael Grabner, Josh Jooris, Nick Holden, Adam Clendening, Maxim Lapierre (PTO)
Key Departures: Derick Brassard, Eric Staal, Viktor Stalberg, Keith Yandle, Dominic Moore, Dan Boyle
Unsigned RFAs: None
Cap Space: $3,425,000
Projected Roster Size: 23
Notes: The Rangers let Yandle and Staal walk this summer but did not make any signing splashes of their own. They acquired Zibanejad from the Senators in a deal for Derick Brassard, a trade many view as a slight downgrade. New York’s window with Lundqvist is closing as he gets older, so it was a surprise to see the Rangers abstain from any big acquisitions this summer.

Philadelphia Flyers

Key Additions: Boyd Gordon, Dale Weise
Key Departures: Ryan White, Sam Gagner, R.J. Umberger
Unsigned RFAs: None
Cap Space: $413,334
Projected Roster Size: 24
Notes: The Flyers are right up against the Cap and could not make any major additions this summer. It’ll be up to GM Ron Hextall to find creative solutions for improving the team if the Flyers make a playoff push.

Pittsburgh Penguins

Key Additions: None
Key Departures: Beau Bennett, Matt Cullen, Ben Lovejoy, Jeff Zatkoff
Unsigned RFAs: None
Cap Space: -$2,757,499.
Projected Roster Size: 24
Notes: The Penguins could not do much after winning the Stanley Cup given that they are over the cap by almost $3MM. Pittsburgh will alleviate some of that pressure by putting Pascal Dupuis on LTIR once the season starts, but the cap is harsh to Stanley Cup winners. The Penguins will have get used to shedding salary and picking up new parts on the cheap—something the Chicago Blackhawks have experienced more than once.

Washington Capitals

Key Additions: Lars Eller, Brett Connolly
Key Departures: Jason Chimera, Mike Richards
Unsigned RFAs: Dmitry Orlov
Cap Space: $3,454,871
Projected Roster Size: 21
Notes: The Caps tweaked their roster after losing to the eventual Stanley Cup champions in the 2nd round. They added Eller in exchange for draft picks, and let Chimera and Richards walk so that the team had cap room for Orlov. Orlov still isn’t signed, and a strong showing at the World Cup of Hockey for the Russian defenseman could force the Capitals to pay more than they expected.

As a new season fast approaches, it’s always nice to look back and reminisce on years and players gone by. Unfortunately for most NHL teams, those feelings of nostalgia are usually cut short by the realization that some of those past players are still on the team’s payroll. Retained salary is a fact of life in the National Hockey League, as buyouts have become commonplace and retaining a portion of an outgoing player’s cap hit is often a deal-breaker in many trades. Retained salary can last long past the playing days of a former player (see Rick DiPietro) or can simply be for just one year. One way or another nearly every NHL team has at least one guy who’s still being paid without having to perform. Below is a list of all the retained salary in the Metropolitan Division in 2016-17:

Carolina Hurricanes

• Alexander Semin ($2.33MM cap hit from 2016-17 to 2020-21): The Hurricanes first signed Semin in the summer of 2012 to a one-year, $7MM “show me” deal. While they were paying Semin a good amount of money, they were not prepared to commit long-term to a player know to be one-dimensional and streaky. However, Semin responded with a point-per-game campaign in 44 contests. The Hurricanes bought in, renewing Semin’s $7MM price tag with a five-year, $35MM extension. Semin put up another 40+ point season in 2013-14 season, but then, inexplicably, the wheels fell off. In 57 games in 2014-15, Semin only managed to score 19 points while contributing little else for Carolina. The Canes had no choice but to get rid of him, and the only route was through a buyout. With $21MM over three years left on his contract, they were saddled with a six-year, $14MM settlement, and still have five years left to go.

• James Wisniewski ($3.5MM cap hit in 2016-17, $1MM in 2017-18): Carolina did not have much better luck with Wisniewski. After trading Anton Khudobin to the Anaheim Ducks last summer to get the puck-moving defenseman, the Hurricanes got to watch him skate for just 47 seconds in the regular season opener before he tore his ACL and missed the rest of the year. Wisniewski had one year remaining on a six-year, $33MM deal he signed in Columbus in 2011, but faced with the prospect of a $5.5MM cap hit for a defenseman coming off a serious knee injury, Carolina decided instead to cut and run. While the buyout hit of $3.5MM in 2016-17 is tough, it’s already better to pay Wisniewski that for not playing this season since they already payed him $5.5MM for less than a minute last season. Recent events imply that the Hurricanes may have been correct to distance themselves from Wisniewski, as the once top-pair defenseman had enough trouble locking down a guaranteed contract that he committed to a professional tryout deal with Tampa Bay last week.

Columbus Blue Jackets

• Fedor Tyutin ($1.2MM cap hit in 2016-17, $1.96 in 2017-18, $1.46MM in 2018-19 and 2019-20): Dissapointed in the sharp decline of long-time defenseman Tyutin, the Blue Jackets made the tough call to cut ties with the 33-year-old this off-season rather than continue paying him $4.5MM over the next two seasons. Tyutin failed to make much of a difference for Columbus last season, and though paying him into retirement is not favorable, the Jackets could not afford another three-point season frought with defensive lapses at that price. Things have turned out alright for Tyutin though; he signed a one-year, $2MM pact with the Colorado Avalanche and is set to continue his NHL career.

• Jared Boll ($567K cap hit in 2016-17 and 2017-18): Like Tyutin, the rebuilding Blue Jackets did not see a future with Boll and bought out the final year of his contract this summer. A grinder without much offensive upside who struggled with injuries in 2015-16, Boll didn’t fit with the young and fast core being built in Columbus, and at $1.7MM was simply an inconvenience. Unlike Tyutin, who had been a solid presence on the Blue Jackets’ blue line for a long time, Boll’s presence will likely not be missed and the sub-$1MM buyout hit won’t make much of a difference for Columbus. Boll has moved on anyways, signing a two-year $1.8MM deal with the Anaheim Ducks.

New Jersey Devils

• Ilya Kovalchuk ($250K cap hit from 2016-17 to 2024-25): In one of the more outrageous contracts in NHL history, Kovalchuk hit the open market for the first time in 2010 and the Devils signed him to a 15-year, $100MM contract. The league initially rejected the offer for too obviously circumventing the salary cap, but even after it was fixed, it was still ridiculous. The contract, which would have had the Russian star playing in New Jersey until he was 42, held only a $6.67MM cap hit. However, Kovalchuk was to be paid over $11MM in salary in years three through eight. After that, the salaries began to plummet. In fact, over the course of the 15-year deal, the salary ranged in value from a mere $1MM to a whopping $11.8MM (ironically in 2016-17). Thus, the Devils knew that the contract carried a very big threat of recapture penalties if Kovalchuk retired early. As we all know, Kovalchuk retired very early, heading home to Russia following the 2012-13 season. In a weird twist, the Devils were actually saved by Kovalchuk retiring very early, before the front-loaded salaries started to pile up. Had he retired nine or ten years into the deal instead of just three, New Jersey could have been facing over $4MM in recapture penalties each year, instead of just $250K. While having a chunk of cap space taken off each year for 12 years is a harsh reminder of a rogue superstar, Kovalchuk’s departure may have been a blessing in disguise for New Jersey.

• Anton Volchenkov (no cap hit): Following the negotiation of the past NHL Collective Bargaining Agreement, in both 2013 and 2014 all teams were able to use a “compliance buyout” on contracts signed prior to the 2012-13 season. The compliance buyouts would still be used to make payments to players, but it would not count against the salary cap. The Devils used such a buyout on Volchenkov in 2013, who was no longer worth anywhere near the value of the six-year, $25.5MM deal he had signed with the team in 2010. Rather than keep him and his $4.25MM cap hit for the three years remaining or buy him out and face six years worth of buyout hits, the Devils took the opportunity for a “do-over” and used their compliance buyout. The teams still pays Volchenkov over $1.4MM every year, but it has no effect on the rest of the team. Volchenkov played one season in Nashville after departing the Devils, but had similar results and has been out of the NHL since.

New York Islanders

• Rick DiPietro (no cap hit): In the most obvious compliance buyout of all-time, the Islanders were able to rid themselves of Rick DiPietro’s infamous 15-year contract. Signed in 2006 after the 24-year-old goalie had shown signs of potential stardom, it was the longest NHL contract to date and carried a combined cap hit of 67.5MM. While 4.5MM per year for the entire career of a star goalie sounds pretty good, DiPietro had one more good year in him and then started to decline drastically and struggle year in and year out with injuries. In the five years leading up to his buyout, he played in 50 games total and had a save percentage under .900. Armed with the unique chance to avoid eight more years of the same without having to pay the price in cap space, the Isles jumped at the chance for a compliance buyout. Though they still pay the steep price of $1.5MM to DiPietro every year, and must do so until 2029, it has no effect on the current team and can be more or less forgotten.

New York Rangers

• Brad Richards (no cap hit): Not to the same extent of their cross-town rivals and their “franchise goalie”, but the Rangers were also very happy to get a chance at a compliance buyout when it came to Richards. While Richards would go on to have a couple of successful seasons with the Blackhawks and Red Wings after leaving New York, his production was not really worthy of what the Rangers would have paid him. In 2011, Richards was the “must-have” free agent of the summer, coming off back-to-back seasons of over a point-per-game with the Dallas Stars. The Rangers won the bidding, giving him a nine-year $60MM contract. The deal, like many long-term deals at that time, was very front loaded. It paid Richards $12MM in each of the first two seasons and only $1MM in each of the last three. The cap hit of $6.67MM was manageable for the Rangers at first, as Richards put up good numbers, but he was also showing decline and the threat of a big cap hit for an aging player and monstrous recapture penalties led to decision to use a compliance buyout on Richards. In retrospect, it was very smart, as Richards announced his retirement earlier this summer after two more years of declining production. New York paid Richards over $3MM each of the past two years in accordance with the buyout settlement and are set to pay a little more than $5MM in 2016-17 before settling in to a payment of just north of $1MM each year until 2025-16. Luckily for them, none of it touches the salary cap for a team that is constantly in a cap crunch.

Philadelphia Flyers

• Ilya Bryzgalov (no cap hit): The Flyers make a trio of Metro teams that used their compliance buyouts wisely, as Philadelphia was able to escape from a nine-year, $51MM contract they gave to the eccentric Russian goalie Bryzgalov. After back-to-back stellar seasons for the Phoenix Coyotes, the Flyers jumped on Bryzgalov in free agency in 2011, giving him a monster contract. However, as it so often goes in Philadelphia, the goalie didn’t work out and after just two years, the Flyers were ready to dump his $4.65MM cap hit. Though a 14-year buyout plan with annual payments of $1.64MM is not fun, the Flyers were able to move forward with new goalies and no negative impact on the salary cap.

• R.J. Umberger ($1.6MM in 2016-17 and 2017-18): A recent buyout victim, Umberger simply stopped producing. After starting his career off strongly in Philadelphia, Umberger was traded to the Columbus Blue Jackets, where he became a star. The Jackets rewarded him with a five-year, $23MM deal in 2012, but then watched his number gradually decrease each year. With three years left on his contract, he was traded back to the Flyers, but the homecoming did not lead to many points. After two brutal seasons, Philadelphia decided to let Umberger and his $4.6MM cap hit go before the final year of his contract. They’ll pay for it over the next two seasons with significant cap hits, but it’s worth it considering their tight cap space entering 2016-17. Meanwhile, Umberger’s career appears likely to be over.

Pittsburgh Penguins

• Rob Scuderi ($1.125MM in 2016-17): In one of the funnier circumstances of the 2015-16 season, the Penguins held on to one third of Scuderi’s contract when they traded him to the Chicago Blackhawks for fellow underperforming defenseman Trevor Daley. Then, the Blackhawks held on to another third of Scuderi’s contract when they traded him to the Los Angeles Kings for yet another underperforming defenseman, Christian Ehrhoff. Now going into 2016-17, the final year of four-year $13.5MM deal he signed when he returned to Pittsburgh, the Penguins, Hawks, and Kings will all pay $1.125MM of his contract. Maybe Scuderi will return to form this season and at least avoid being traded more than once.

Washington Capitals

• NONE. Right? The reigning Presidents’ Trophy winners will not pay anyone this season who isn’t on the ice for them. Cap efficiency, that’s the key to NHL success.