Minor Transactions: 9/2/17
With the calendar flipping from August to September, there has been a flurry of activity across hockey. Players who have been holding out for more money or better situations are feeling the pressure of an impending season and finally settling for what they can get. Thomas Vanek is one example, while a plethora of PTO’s in recent days provides another. Outside the NHL, lower tier players are facing the same scenario. Here are some minor moves as evidence:
- Michael Kostka is headed overseas, at least for now. Calgary Flames beat writer Ryan Pike reports that Kostka has agreed to a tryout with Skelleftea AIK of the Swedish Hockey League. This is the first time that Kostka has ventured across the pond, as he has made a career out of being a dependable AHL depth option for several NHL teams. A four-year starter and eventual captain for the UMass Minutemen, Kostka signed a two-year deal with the Florida Panthers out of school in 2008 and and then returned to the Panthers in 2011 after a breakout campaign on an AHL contract in 2010-11. This began a pattern of one-year, two-way contracts for the reliable defenseman. Kostka made his NHL debut in 2012-13, skating in 35 games with the Toronto Maple Leafs, then signed with the Chicago Blackhawks and played in nine games with them in 2013-14 and another 19 games with the Tampa Bay Lightning following a mid-season trade. Kostka then played in seven games with the New York Rangers in 2014-15 and 15 games with the Ottawa Senators in 2015-16. All the while, Kostka has provided consistency on offense and defense in the AHL, as well as veteran leadership. However, only last year with the Senators and later the Flames organizations – following the Curtis Lazar trade – did Kostka have his first season since his NHL debut without a game played at the highest level. Now 31 years old, it appears the yearly demand for Kostka as AHL depth has ended and he will now take his talents to Sweden in hopes of playing a major role once again, this time with Skelleftea. Should he fail to make the team or simply wish to return to North America, the veteran blue liner would undoubtedly be welcomed by a number of AHL teams happy to take him on a minor league deal.
- The AHL’s Rockford Ice Hogs, affiliate of the Chicago Blackhawks, announced that they have signed defenseman Brandon Anselmini to a one-year deal. The former Ferris State University rearguard played for the AHL’s Texas Stars, the affiliate of Chicago’s Central Division foes, the Dallas Stars, last season. However, Anselmini only skated in ten AHL games, spending the bulk of the campaign with the ECHL’s Idaho Steelheads. Although Anselmini performed well in his first pro season at the ECHL level, it’s doubtful that he’s ready for a full-time AHL role. The undersized defender is a good depth option for Rockford, but is likely destined for more time in the ECHL.
- Yet, at least Anselmini found an AHL contract to begin with. A player he could help to replace with the Ice Hogs, Nolan Valleau, has not been so lucky. Valleau, who signed with the Chicago Blackhawks out of Bowling Green State University two years ago, was not tendered a qualifying offer by the team this off-season and became an unrestricted free agent. After a 2016-17 season where he played entirely in the AHL, but scored just eight points and played to a -19 rating, there hasn’t been much interest in the 24-year-old in the AHL, nevertheless another NHL team. Instead, Valleau has signed with the ECHL’s Orlando Solar Bears, the team announced. The Solar Bears’ press release indicated that they are very excited to have Valleau, who could take on a leadership role for the “AA” squad. Perhaps the puck-moving defender could find his way back to the AHL next season and beyond if he makes the most of his time in Orlando.
- Another non-qualified UFA settling for an ECHL deal after being on an NHL contract is Zach Pochiro. Pochiro, a 2013 fourth-round pick of the St. Louis Blues and St. Louis native, has signed with the Allen Americans, the team confirmed. Unlike Valleau though, Pochiro is extensively familiar with the ECHL. The former Prince George Cougars standout has played in 103 ECHL games since signing with the Blues in 2014. In comparison, he has only skated in five AHL games and of course no NHL games in that span. Even after being traded to the Edmonton Oilers in the Nail Yakupov deal last summer, a change of scenery was not enough to change his career trajectory, leading to the Oilers passing on retaining his rights. Perhaps the reality of an ECHL contract will help the once-promising 23-year-old to re-focus.
More to come throughout the day
Jason Spezza Expected To Spend Time On Left Wing
With the Stars adding Martin Hanzal this summer to a center group that already featured Tyler Seguin and Jason Spezza, it seemed like there was going to be somewhat of a logjam, especially with Hanzal receiving top-six money ($4.75MM). Speaking with Mike Heika of the Dallas Morning News, head coach Ken Hitchcock indicated that the team views Hanzal as someone who will strictly play down the middle while it will be Spezza that will shift to the left wing. Hitchcock did add that he envisions Spezza will still see some time at his natural position and that Radek Faksa, a natural center in his own right, is also a candidate to shift to the wing and could potentially line up alongside Hanzal.
Dallas' Klingberg Wants To See Stars Embrace Defense
- Sportsnet’s Sonny Sachdeva writes that Dallas Stars defenseman John Klingberg says that he is looking forward to working with new coach Ken Hitchcock this year in hopes that the veteran coach can emphasize defense more in hopes of bringing the Stars back to the playoffs. The 24-year-old blueliner has been one of the team’s brightest offensive stars, putting up a career-high 13 goals last year to go with 36 assists for 49 points. Klingberg who led the team in average ice-time (23:21) last season would embrace a coach that emphasized defense. The Stars went from winning the Central Division in 2015-16 to a sixth-place finish last year.
The Signing Bonus: Rise Of The Buyout-Proof Contract (A Reprise)
This article was originally published in July of 2016, but seems extremely relevant a year later. Most of the players discussed inside underachieved in their first season, and again we saw signing bonuses handed out like candy this summer. Included at the bottom is an update with new contracts from this offseason.
The life of an NHL agent is tough. As the league continues to tweak (or totally overhaul) their CBA each few seasons, changing contract regulations and offering teams different ways of structuring deals, agents are always trying to find ways to circumvent them and get the best offers for their clients.
With teams becoming more and more willing to use buyouts to rid themselves of the horrible contracts that they sign on July 1st – famously a day of simultaneous excitement and regret – agents around the league needed to find a way to protect their clients from losing out on a third (or sometimes two-thirds) of the salary the sides agreed on.
The most recent buyout window, which lasted from June 15th to 30th, saw a dozen NHL players bought out, including household names like Thomas Vanek and Dennis Seidenberg. While some fans may see this as an opportunity for a player to earn two contracts at the same time – Vanek was signed on by Detroit for $2.6MM on July 1st, more than the $1.5MM he surrendered in his buyout – most take it as a personal slight, an indictment of their play or character. Regardless, agents continue to try and secure guarantees for their clients, instead of leaving the power in the hands of the league’s general managers.
Enter the signing bonus, this summer’s contract-du-jour. All across the league, big name free agents have inked deals that will see them paid almost entirely in signing bonuses, with very little actual salary being given out each season. Take Loui Eriksson for instance:
2016-17 – Salary: $1MM, Bonus: $7MM
2017-18 – Salary: $1MM, Bonus: $7MM
2018-19 – Salary: $1MM, Bonus: $6MM
2019-20 – Salary: $1MM, Bonus: $4MM
2020-21 – Salary: $1MM, Bonus: $3MM
2021-22 – Salary: $3MM, Bonus: $1MM
While Eriksson’s cap-hit sits at $6MM per year, he’ll make more than that in bonuses alone each of the next three seasons. There are a couple of reasons why this would benefit the player.
For one, everyone loves getting a big check rather than a weekly salary – who would turn down a piece of paper with six zeros? As any economist will tell you, money in hand is worth more than money promised to come, and just as teams in other sports are deferring payments for this reason long into the future, having money up front is actually more valuable for the player in question.
It’s in the buyout rules that the contract really holds value though, as – hinted at by the title – these contracts are basically buyout-proof. Under the current CBA, buyouts are calculated by taking two-thirds of the remaining salary owed, not including signing bonuses, and spreading it out over twice the remaining contract length. The new cap hit is determined by subtracting the savings from the average annual value of the deal which includes signing bonuses.
This means that if the Canucks were to want to buy out Eriksson after say, the third year of his new deal, they’ll only be saving $333K of cap hit in 2020-21, an insignificant portion of the $6MM number. That last season of $3MM is a bit better for the Canucks (they would save $2MM of his cap hit), but structuring it this way almost guarantees that Eriksson will collect at least $35MM of his deal – more than 97%. It’s just not worth it to buy him out any sooner than his final year.
Andrew Ladd, Milan Lucic, Kyle Okposo all signed deals heavily impacted by signing bonuses, protecting them against a buyout through all but the very end of their agreements. Even Matt Martin, a career fourth liner secured a $10MM deal that is 65% bonus. He’ll only be collecting $750K in salary in years three and four of the deal.
While this doesn’t necessarily mean trouble for clubs around the league, you can bet the owners and NHLPA will take a look at it when negotiations begin on the new CBA. The current agreement expires in 2022, though the two sides have the option to end it a year earlier.
Just as the league has used cap recapture and contract limits to close loopholes in the past, be sure that if they want to continue to have the option to buyout bad contracts they’ll remove this option from the equation. Creating a rule that would make signing bonuses only be able to hit a certain percentage of each season’s salary would be the easy fix, but expect push-back from the NHLPA.
Even if they do end up closing it, agents will work on another way to get their clients the best possible guarantee; they always seem to be one step ahead of the league.
This summer, signing bonuses have taken off even further. Carey Price‘s eight-year extension with the Montreal Canadiens is over 80% signing bonuses, with the goaltender making a maximum of $2MM in salary per year. A $10.5MM cap hit through age-38 will be impossible to buy out, offering almost no cap savings. The Blackhawks face a similar situation with Brent Seabrook, whose 2015 contract is looking worse and worse, and provides little incentive for a buyout.
Interestingly, the Nashville Predators have continued in their practice of avoiding signing bonuses altogether. After signing Filip Forsberg to a bonus-free deal last summer, both Ryan Johansen and Viktor Arvidsson have taken similar structures in their long-term extensions this year. GM David Poile has taken much of the risk off the table even as he allocated many of his resources to his trio of young forwards. Though they pose little risk of age-decline, all three carry large enough cap hits to really hurt the Predators if they were to take a step backwards in their development. It’s hard to see any deserving a buyout, but the option is still there.
Alexander Radulov may be the biggest example among 2017 unrestricted free agents, as his contract with the Dallas Stars is both front-loaded and filled with signing bonuses. Radulov will earn just $13.25MM in salary over the next five seasons, making it difficult to buy out even as he enters his mid-thirties. For a player who has a relatively short track record of success in the NHL, it may quickly turn into a problem if he starts to feel the draw of father time.
Summer Predictions: Central Division
The hockey world is at a standstill now that August has rolled around. With all of the arbitration cases now decided and just a few restricted free agents left to sign, players and fans alike are counting the days until training camp starts. While there are still several names in free agency that could still help an NHL club, it seems like many are destined either for professional tryouts or late-summer deals after injuries strike.
So now we’ll get into our summer predictions. Before the start of the year we’ll be releasing a full season preview with projections for each club and the expected playoff teams, but first we’ll ask you to give us your take on how you believe each division will end up. We’ve looked at three of the divisions so far, with the polls pointing to the Pittsburgh Penguins, Tampa Bay Lightning and Edmonton Oilers as the top seeds. All three of those teams failed to lead their divisions in 2016-17, but are expected to take another step forward.
Today we’ll finish the series by taking a look at the Central division, which last season gave us the top two records in the Western Conference and the Stanley Cup finalists. Once again choose who you think will win the division this season, and make sure to leave your full prediction for the division standings in the comments. As a proxy for the overall standings, we’ll be sure to publish these results alongside our own PHR rankings in September.
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Dallas Stars’ Upcoming Roster Crunch
While everyone points to the Toronto Maple Leafs, Chicago Blackhawks and Washington Capitals and their upcoming training camp cap crunches, there is another team that may be facing the reality of losing a player on waivers before the start of the season. Toronto and Chicago will both likely use long-term injury space to clear room on their salary cap as the season begins, but the Dallas Stars don’t have that luxury (if you can call it that).
Looking at the Stars’ CapFriendly page, there are 22 skaters currently listed in their NHL portion. Each of these 22 are waiver eligible, and 20 of them are on one-way contracts. Devin Shore is still on his entry-level deal, but it would be shocking to see him spend any time in the minors this year after a solid 2016-17 campaign in which he registered 33 points. The other two-way deal is Brian Flynn, a prototypical 13th forward who hasn’t seen the minors in almost five years.
When combined with the more than $12.3MM Dallas is paying goaltenders this year—including the buyout of Antti Niemi—the team currently projects over the $75MM salary cap. The Stars will have to remove one of the players just due to roster constraints, but there is also the case of Julius Honka. Honka is still waivers exempt, but many believe he’s ready to take the next step and join the Stars full-time. The 21-year old is poised for a breakout campaign, that could end up costing the Stars one of their other defensemen.
It’s extremely unlikely that the team will carry nine defenders, meaning that if Honka makes the team out of camp at least one would need to go. The most likely candidates are Greg Pateryn or Patrik Nemeth, though it may be tough to squeak either of them through waivers. While neither has shown the ability to contribute in the top-4, both would provide solid NHL depth to a team looking to improve their blue line. If Dallas doesn’t make a move in the next month to trade off some of their surplus defense, the battles in camp may be some of the most interesting to watch around the league.
Vegas Had Interest In Stephen Johns Before Expansion
- Although center Cody Eakin was selected by the Golden Knights from the Stars in the Expansion Draft, they at one time had their eyes on defenseman Stephen Johns which played a big role in Dallas protecting him, notes Mike Heika of the Dallas Morning News. The 25-year-old was in and out of the lineup as part of their defensive rotation last season but since they ultimately decided to protect him from Vegas, that may give him a better shot at securing more of a full-time spot in the lineup in 2017-18.
A Quiet 2017 Off-Season
By the time August rolls around each year, it seems like the off-season is dragging on. The July 1st free agent frenzy is long behind us and it’s been weeks since the last major signing. Fans are struggling to get their hockey fill and counting the days until the puck drops on preseason hockey. In 2017, fans have all the more reason to be sick of the off-season. When compared with the summer of 2016, this off-season has simply been boring. It was expected to be as such, but no one could have predicted just how quiet this summer could be.
As of today, August 6th, 2017, there have only been two unrestricted free agents signed to contracts worth more than $6MM per year: Kevin Shattenkirk to the New York Rangers (as predicted) and Alexander Radulov to the Dallas Stars. In contrast, there were four such deals signed on July 1st, 2016 alone. Drop that mark down to contracts worth more than $4MM annually, and you get uninspiring names this year like Evgeni Dadonov, Dmitry Kulikov, Nick Bonino, Karl Alzner, Martin Hanzal, and Steve Mason added to the list; hardly a superstar among them. 2016 saw high-profile players like Milan Lucic, David Backes, Loui Eriksson, Kyle Okposo, and Andrew Ladd all find new homes. Those signings came on the heels of the P.K. Subban – Shea Weber and Taylor Hall – Adam Larsson trades as well. The best swaps 2017 has to offer so far are Travis Hamonic or Marcus Johansson being dealt for draft picks. There have simply been a lack of franchise-altering moves made this summer.
Then you have the timeline of when deals got done. By August last year, the best unsigned free agents were Antoine Vermette, Jiri Hudler, and Jhonas Enroth. The year before, Cody Franson and David Schlemko highlighted the August market. In both cases, NHL teams got their deals done in July, filling the month with exciting signing news. This year? Not so much. Legendary players like Jaromir Jagr, Jarome Iginla, and Shane Doan remain available, alongside other able-bodied contributors like Thomas Vanek, Drew Stafford, and Daniel Winnik. That’s in addition to Franson and Hudler as well. Teams are simply waiting around on this market for reasons unknown. Could it end up as an exciting run of signing in August? Maybe, but don’t count on it.
The weak 2017 free agent market coupled with the challenge of preparing for June’s Expansion Draft has simply resulted in one of quietest off-seasons in recent memory. Several teams still have needs and spots to fill and signings and trades remain possible, but at this point the summer is a lost cause. Time to look forward to next season and even next summer when we *hope* to see the likes of John Tavares, Rick Nash, Evander Kane, James Neal, James van Riemsdyk, Paul Stastny, Mikko Koivu, Cam Atkinson, Jonathan Marchessault, Daniel and Henrik Sedin, Mike Green, Jack Johnson, Calvin de Haan, and Antti Raanta all hit the open market. Hopefully that list is enough excitement to get you through the rest of this one.
Dallas Stars Sign Jamie Oleksiak
The Dallas Stars have signed another restricted free agent, inking defenseman Jamie Oleksiak to a one-year $965K contract for 2017-18. Oleksiak was eligible for salary arbitration but chose not to file after his disappointing season.
Oleksiak, 24, played 41 games this season for the Stars and registered just seven points. He still hasn’t developed into the hulking shut down defender the Stars had hoped for when the selected him 14th overall, and can’t seem to keep himself in the lineup for a whole season. This year he spent a ton of time in the press box as a healthy scratch, and has just 119 games since his debut in 2012-13.
With Marc Methot added to the Dallas defense corps, there doesn’t seem to be a regular role for Oleksiak once again. The team has a glut of defenders already established, while Julius Honka is also poised to make his mark in the NHL. It’ll be tough for Oleksiak to pass anyone on the depth chart.
There has been times that moving Oleksiak to forward has been discussed, though it doesn’t seem like that is a realistic option at this point. Instead, the 6’7″ defender—who actually has more skill with the puck than some may think—will have to take a big step forward in his development. That’s not uncommon for players of his size, but it’ll have to come soon.
East Notes: Bylsma, Guentzel, Rowney
The Athletic’s Craig Custance caught up with former Pittsburgh Penguins and Buffalo Sabres head coach Dan Bylsma who had some thoughts on how the Detroit Red Wings should approach their roster. Ironically enough, Bylsma grew up a Detroit fan, since he was a Michigan resident. Custance quizzed Bylsma on a number of topics, including a Red Wings rebuild and his time with the Sabres. On the Red Wings, Bylsma admits that Detroit is no longer model franchise in the league and that fans will “never see” the team they once saw that featured bonafide stars like Luc Robitaille, Brett Hull, Steve Yzerman, and Sergei Fedorov, to name a few. The former bench boss guesses that the Red Wings roster will look dynamically different in three years as they’ll be forced to rebuild a team that has certainly struggled. He also believes fans are ready for a rebuild, preferring to see a competitive team that grows into playoff dominance instead of keeping the “streak” alive with aging players and early playoff exits. He doesn’t believe, however, that the Red Wings need a total teardown to win. Instead, he thinks that steady drafting can keep Detroit relevant without ripping out the foundation.
- When it came to talking about Buffalo, however, Bylsma was coy. When he arrived in Buffalo, the team was in the midst of a tear down and rebuilding with the likes of Jack Eichel, and other young, dynamic players. While there were some strides, last season was disastrous, costing both Bylsma and former general manager Tim Murray their jobs. Bylsma admits to Custance that he didn’t want to talk about what happened in Buffalo while explaining that Detroit hasn’t gutted things like Buffalo did. He also believes that a teardown-build up program takes several years, sometimes up to five. That’s understandable from his vantage point, given that he only had two years in Buffalo to try and win. It has to be said that Toronto’s resurgence couldn’t have helped matters, as the Leafs not only qualified for the playoffs, but gave Washington a scare in the first round.
- NBC Sports’ Adam Gretz writes that with Connor Sheary re-signed, the Pittsburgh Penguins will turn their attention to grabbing a third line center. He makes a couple suggestions, wondering if Jake Guentzel could move over to center line or if youngster Carter Rowney is ready for full time duty. The most realistic option, Gretz believes, is for Pittsburgh general manager Jim Rutherford to explore trades to fill the vacancy and give the Pens a solid chance to win their third consecutive Cup.