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Jussi Jokinen Signs With Edmonton Oilers

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The Edmonton Oilers have signed recently bought out winger Jussi Jokinen to a one-year contract worth $1.1MM. The deal also has a limited no-trade clause. Jokinen was bought out of the final year of his previous contract on June 30th by the Florida Panthers, making him an unrestricted free agent.

Now 34, Jokinen is coming off a disappointing season with the Panthers that saw him register just 11 goals and 28 points in 69 games. Though father time has a cut off date for everyone, Jokinen did score 60 points as recently as 2015-16 and still shows ability as a powerplay option for a team looking for offensive help. Like former teammate and fellow UFA Thomas Vanek, Jokinen’s speed is a concern as the NHL trends faster and more mobile, but his offensive instincts in certain situations can still be beneficial to a club. The fact that he’s always been a capable defender and was never a true rush threat lends itself to success even as he continues to lose mobility.

As discussed in our live chat yesterday, there may be room on certain rosters for a sort of specialty player that doesn’t have to log big minutes 5-on-5, but could still contribute in other ways. Similar to the way Columbus deployed Sam Gagner at the beginning of last season, Jokinen is a nice buy-low option for teams that missed out on the bigger names of free agency. Though he likely won’t have the impact of an Alexander Radulov or even Patrick Marleau, Edmonton can still get some solid value out of him on a one-year deal.

With Connor McDavid, Leon Draisaitl, Ryan Nugent-Hopkins and Mark Letestu as solid options in the middle, Jokinen is probably destined to add his talents to a group of wingers that is less impressive. With Ryan Strome also likely headed for the wing, the team is trying to replace the outgoing offensive talent of Jordan Eberle with a more spread out attack.

To be clear, Jokinen is not eligible for a contract with performance bonuses until next summer after he turns 35.

Fox Sports’ Andy Strickland was first to report the deal was close with a Western Conference team, while Mark Spector of Sportsnet first provided the details. 

Connor McDavid Signs Eight-Year, $100MM Extension

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Number 97 will be in Edmonton for quite some time. The Oilers announced today at a press conference an eight-year, $100MM extension for the reigning Hart Trophy winner, keeping Connor McDavid in Edmonton until the summer of 2026. The extension, which kicks in for the 2018-19 season and carries a $12.5MM cap hit, will make McDavid the highest paid player in the league. $86MM of the deal will be paid out in signing bonuses, making the deal essentially lockout-proof."<strong

While the contract isn’t the biggest in the league in terms of total dollars—that goes to Alex Ovechkin and his 13-year, $124MM deal—it is still a huge number for a player who won’t turn 21 until January of next year. Eight years is the maximum a player is allowed to be signed to under the new CBA, and $15MM would have represented the maximum dollar amount he could have received. Teams are not allowed to have an average annual value (AAV) surpass 20% of that year’s cap ($75MM). Had they waited to sign the contract until next season, any increase in the salary cap would have also changed the maximum a player is allowed to earn.

With a new deal on the books, the Oilers will turn their attention to Leon Draisaitl’s next contract which must be resolved this summer. The second superstar on the club, Draisaitl is coming off a 77-point season and could easily get a contract that pushes their combined cap hit over $20MM. That’s a hefty price to pay, but not all that different than the scenarios in Chicago and Pittsburgh, where Jonathan Toews and Patrick Kane earn $21MM per season, while Sidney Crosby and Evgeni Malkin combine for $18.3MM.

That big number locked up into two players is hard to work with, but not impossible. As Elliotte Friedman of Sportsnet wrote when the deal was first reported:

You can win with two huge deals. I will bet on McDavid and Draisaitl being the right players. Growth is the key. If the cap rises, Edmonton rises with it.

While a raising cap is not guaranteed by any means, the Oilers couldn’t afford to sign McDavid to anything less or shorter and risk that he’d hit free agency earlier. This deal will buy out four UFA seasons from age 25-28, years which likely would have earned him a max contract if his career continues the way it has so far. In two years, McDavid has recorded 148 points in 127 games, won the Art Ross, Hart, and Ted Lindsay trophies and led the Oilers back to the playoffs for the first time in more than a decade.

With one year left on his entry-level deal, the Oilers are hoping to compete for the Stanley Cup once again before both contracts kick in, but have already started to feel the pinch. They dealt Jordan Eberle to the New York Islanders, and bought out Benoit Pouliot to clear some room. That kind of thing will continue, but with McDavid leading the way they’ll always be a dangerous team to play.

This deal will have ramifications across the league, with players like Auston Matthews and Jack Eichel surely taking note of it’s length and salary. Though it’s unlikely any of the other young players in the league will match McDavid’s impact in his first few years, it will certainly be a mark for those who come anywhere close. It’s certainly not inconceivable for Matthews in particular to have more points through his first two years, after McDavid lost half his rookie year to injury.

Photo courtesy of USA Today Sports Images

Who’s Playing On Another Team’s Dime?

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The most recent CBA introduced retained salary transactions—trades where a team trade a player but agree to pay a percentage of his salary. This is ideal when a team wants a player but will have trouble fitting him in under the cap. The ability to retain salary comes with restrictions, however, so let’s briefly look at how retained salary transactions work before looking at which players are subject to them.

  1. A team can retain up to 50% of a player’s average salary (including bonuses);
  2. The retained salary amount is uniform over the full length of the player’s contract;
  3. A team can retain up to three players’ salary at one time;
  4. A team cannot have more than 15% of the salary cap devoted to retained salary;
  5. A team cannot retain salary on a player who is already subject to two current retained salary transactions;
  6. If a team acquires a player with retained salary, then trades him while also retaining salary, the second retained salary agreement cannot modify the initial retained salary agreement;
  7. Teams cannot reacquire a player within a year of trading him if it agreed to retain salary in the initial transaction (unless the player’s contract terminated);
  8. Retained salary obligations apply to any cap advantage recapture amounts; and
  9. Retained salary obligations still apply if a player is bought out or loaned to an AHL club. The NHL team would pay a portion of the player’s AHL salary (if applicable).

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Edmonton Oilers Sign Brad Malone To Two-Year Deal

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  • The Edmonton Oilers have signed Brad Malone to a two-year contract. The 28-year old forward split last season between the Chicago Wolves and Hershey Bears, unable to crack the NHL lineup in Washington or St. Louis. In 176 career games, Malone has 30 points and 188 penalty minutes. He’s likely ticketed for Bakersfield, where he’ll add some depth down the middle to the AHL squad.

Stars Sign Tyler Pitlick To Three-Year Deal

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The Dallas Stars added some more forward depth, inking Tyler Pitlick to a three-year, $3MM deal. Pitlick spent last season with the Edmonton Oilers, notching 11 points (8-3).

Pitlick comes at a relatively low cost and is still only 25 years of age. It’s a depth move for the Stars, who are looking to rebound from an injury-ravaged 2016-17 season. The Stars released their own announcement on the signing, with general manager Jim Nill saying:

“Tyler is a young player who will add speed and size to our lineup,. He offers versatility to our forward group and we look forward to him being a Dallas Star for many years.”

2017 NHL Free Agency Tracker

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Stay with PHR for all of the free agency signings this off-season. As of noon ET on July 1st, unrestricted free agency is open, but not before many extensions earlier in June. This page serves to organize everything in one spot, and are linked to the PHR story that corresponds with the signing. All July signings will be separated by date while June signings are organized alphabetically by team. It will be updated as soon as stories post.

Please note that signings on this list start on June 12.

July 1st:

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Edmonton Oilers Waive Benoit Pouliot, Will Buy Out Contract

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The Edmonton Oilers continue to clear cap space, placing Benoit Pouliot on unconditional waivers today for purposes of a buyout. The forward has two years remaining on his contract at $4MM per season, meaning a buyout cap-hit will be structured as follows.

  • 2017-18: $1.33MM
  • 2018-19: $1.33MM
  • 2019-20: $1.33MM
  • 2020-21: $1.33MM

Pouliot’s career in Edmonton will end on a sour note, scoring just 14 points in 2016-17. He fell completely out of favor with the coaching staff, and at 30 seemed to see his game take a considerable step backwards. The fourth-overall pick from 2005, Pouliot has never been able to keep up with his draft contemporaries. Following Sidney Crosby, Bobby Ryan and Jack Johnson, and selected one spot ahead of Carey Price, Pouliot has bounced around the league and registered a career-high of 36 points (last year and in 2013-14).

Interestingly, Pouliot has long put up solid possession metrics and even recorded a better than average career shooting percentage. Despite that, and the prime ice time he received in Edmonton prior to this year, he never could be relied upon as a top offensive producer.

His career is far from over, as he’ll surely garner attention from several teams around the league now that his price tag has come considerably down. Likely having to settle for a short-term deal on a relatively low salary, teams will be interested in his upside as a third-line winger who could move up if he can find the right fit. It will be interesting to see if he can find a team with it’s eyes on the postseason, or if he’ll rebuild along with a young team.

For the Oilers, saving $2.6MM for the next two years is important as they try to get both Leon Draisaitl and Connor McDavid under contract long term. Recently it was hinted that McDavid might cost as much as $13.25MM per season, and with Draisaitl looking like he might cost as much as $8MM each year, they need all the room they can get. It’s why they moved out Jordan Eberle—though, immediately committed most of that room to Kris Russell—and why they’ll have to look at other cost saving measures in the future. Pouliot was simply not needed on this team, especially as younger players like Drake Caggiula step into bigger roles.

Dave Semenko Passes At Age 59

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The hockey world mourns today, as Jim Matheson of the Edmonton Journal passes along some tragic news. Dave Semenko, long-time Oiler and running mate of Wayne Gretzky, has died after a battle with cancer. Semenko was just 59 years old. The Oilers released a statement: Dave Semenko

It is with great sadness we announce the passing of Oilers legend Dave Semenko after a short, but courageous battle with cancer. Dave will be remembered as a fierce competitor, loyal teammate, fan favorite and dear friend to so many. His legendary toughness on the ice is surpassed only by his kindness and caring for others, and his equally legendary wit and sense of humor.

Our hearts go out to Dave’s family and many friends.

Once an Oiler, Always an Oiler

Semenko was a force for the Oilers in the 1980s, riding shotgun with Gretzky to make sure no opponent took any cheap shots. His role was clear, but it didn’t stop him from enjoying when he did score. In fact, he tallied the final goal in WHA history before Edmonton was absorbed into the NHL, a tap-in at the side of the goal with just 12 seconds left in the final Championship game. The Winnipeg Jets would win that game and the title, but Semenko would get his revenge a few years later when he and the Oilers hoisted back-to-back Stanley Cups in 1984 and 1985.

Our former colleague Brett Barrett, who now works for Global News in Edmonton, grew up an Oilers fan and put it simply when asked.

“He was an absolute legend.”

It’s true, Semenko was spoken highly of by nearly every single person in the hockey community, mostly mentioning his genuine sense of humor and good nature, despite the angry monster he was on the ice. Semenko had worked in radio, as an assistant coach and in a scouting capacity since retirement and even played in the recent alumni game between the Oilers and Jets. He’ll by missed by everyone who cheered in awe of him both for and against, and everyone here at PHR wishes his family the best through this tough time.

Girardi Drawing Interest After Buy-Out

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Although he was just bought out by the New York Rangers due to meager performance relative to his pay, multiple NHL teams have shown interest in signing the 33 year-old. Detroit, who is supposedly in the middle of a rebuild, seem compelled to inquire, according to The Athletic’s Craig Custance. The Grand Rapids Griffins championship run will provide an infusion of youth who have won at the professional level, and yet the defense remains a primary concern for GM Ken Holland. Missing the playoffs for multiple seasons may not be palatable to an organization so accustomed to success. It’s uncertain as to where Girardi would slot if he did sign in Detroit. The Wings have 7 defenseman on the roster (when you include RFA Xavier Ouellet), and 4 of those have no-trade clauses.

Also heavily rumored are the Tampa Bay Lightning. Elliotte Friedman stated that the team reached out to the defender, and that it is unknown how that conversation went. Newsday’s Steve Zipay made the connection to current Bolt Ryan Callahan, himself an ex-New York Ranger, with whom Girardi has close ties. Tampa GM Steve Yzerman does seem to like the old-school defensemen, and the team does have only 4 blueliners under contract while they negotiate terms with Slater Koekkoek. The team was already linked to Kevin Shattenkirk via the Tampa Bay Times’ Joe Smith, and players such Brendan Smith and Karl Alzner could find a decent fit on a second pairing. There are certainly more marquee names available out there, but perhaps the prices will become too steep for Yzerman’s liking. Girardi would almost certainly come cheap, and Tampa seems destined to make a push in the Atlantic after a down season – so it’s not an undesirable location.

The market that has surfaced for Girardi is quite remarkable considering his circumstances. Girardi has had three consecutive poor possession seasons which crescendo-ed this year with an 8th-worst Corsi 5-0n-5 finish among all defenders. In a league which is heading in the direction of deeper, more encompassing analytics, Girardi seems to buck every trend out there. He is probably still an NHL defender, but his immobile brand of defense is losing effectiveness fast and his shot-blocking may be beginning to take a toll on his body. His skating is sub-par and his offensive capabilities are very limited. He’s a good penalty killer, but at even strength is generally a net-negative regardless of how sheltered his minutes are. Still, as a veteran on a cheap contract, he might be worth a flier to regain form on a short-term deal. With such a poor UFA offering, it seems he has some value left and should be able to find a new contract with little pain.

Eric Gryba Re-Signs In Edmonton

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The Edmonton Oilers continue to bring back their veteran defense group, as according to Bob McKenzie of TSN the team has re-signed Eric Gryba for two years. The deal will pay him an average of $900K per season.

Gryba played last season on a two-way deal but spent the whole season with Edmonton or on the shelf due to injury. In 40 games he registered six points but amazingly recorded 145 hits, an impressive rate that would have had him near the top of the league had he played all 82. He’ll likely return in a similar depth role, but is an interesting piece as a big bruising right-handed defenseman.

Now with Gryba and Kris Russell back in the fold, the Oilers have seven NHL defenders under contract. Andrei Sekera won’t play for the first part of the season, but it seems like Edmonton is probably finished when it comes to free agent defensemen. With Matt Benning and Darnell Nurse expected to take a step forward, and Oscar Klefbom and Adam Larsson entrenched as the leaders on the back end, it could be a pretty solid defensive group this season.

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