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Montreal Canadiens Agree To Terms With Gustav Olofsson

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The Montreal Canadiens have agreed to terms with pending restricted free agent Gustav Olofsson on a one-year two-way deal. The contract will pay Olofsson $700K in the NHL level, and guarantee him at least $300K. The 24-year old defenseman will be a Group VI unrestricted free agent at the end of the deal if he fails to play in 24 NHL games this season.

Olofsson was acquired by the Canadiens last October, but ended up playing in just two AHL games all season thanks to a shoulder injury. That meant he wasn’t able to help Montreal as they dealt with injuries on the NHL club, and sent him into this offseason in uncertain territory. Apparently he did enough to impress the front office and will try to show he can be an asset to the organization in 2019-20.

Montreal now has just three more defensemen to make a decision on, as Jordie Benn (UFA), Mike Reilly (RFA) and Brett Lernout (RFA) are the only free agents remaining. Even before any big moves this summer the team has a good amount of depth on the blue line, though it could probably use an upgrade at the NHL level if the Canadiens want to return to the playoffs. Olofsson isn’t that just yet, but don’t be surprised if he gets an opportunity to show he belongs at the highest level.

Buyout Watch: Most Likely Candidates As Buyout Window Nears

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At this time next week, there could already be a few notable additions to the impending unrestricted free agent class. The NHL’s buyout window is set to open on Saturday, June 15th, after which teams will have 15 days to buy out unwanted contracts before the month ends and free agency begins on July 1st. This year in particular, there seem to be a surplus of teams upset with their current salary cap position and itching to remove a contract from their books that has not yielded the expected results. Yet, at a cost of two-thirds of the remaining salary and double the remaining term (in most cases), as well as the side effects of pay and bonus structure, it may not always be the best route. The following are some of the top names that could be bought out later this month and the cost to do so:

Corey Perry, Anaheim Ducks

Contract Remaining: Two years, $8.625MM cap hit
Buyout Cost (each year): $2.625MM/$6.625MM/$2MM/$2MM

The most recent name to hit the buyout rumor mill, Perry’s contract is undoubtedly an albatross and it is difficult to see him getting back to the pace and production that initially warranted his high cap hit. A buyout would give the Ducks immediate relief this year and $2MM in years three and four is not bad. However, the 2020-21 cost is not ideal. However, it’s hard to see anyone trading for Perry’s contract with so many unknowns about his game, so this could be the only choice for Anaheim.

Dion Phaneuf, Los Angeles Kings

Contract Remaining: Two years, $7MM cap hit
Buyout Cost (each year): $2.917MM/$5.417MM/$1.417MM/$1.417MM

The Kings want to get younger and faster and want some cap space to improve. Moving Phaneuf accomplishes all of that, and L.A. has good blue line depth to fall back on in the short-term. Like Perry, this buyout hurts in year two, but is otherwise tolerable. The Kings will try to trade Phaneuf and may succeed, otherwise this is a likely buyout scenario.

Scott Darling, Carolina Hurricanes

Contract Remaining: Two years, $4.15MM cap hit
Buyout Cost (each year): $1.233MM/$2.333MM/$1.183MM/$1.183MM

One of the earliest reported buyout rumors was that of Darling, and for good reason. The former star backup has not panned out as a starter for Carolina, a team that made it to the Eastern Conference Final with a tandem of a UFA flier and a veteran waiver claim. The Hurricanes may not have any experienced goalies under contract for next season yet besides Darling, but that won’t stop them from moving on and going back to the free agent market or their talented pipeline for answers, especially with this very palatable buyout and few cap concerns.

Ryan Callahan, Tampa Bay Lightning

Contract Remaining: One year, $5.8MM cap hit
Buyout Cost (each year): $2.667MM/$1.567MM

Callahan won’t be in Tampa one way or another next season. The team is facing a difficult cap crunch and there’s no room for the veteran, who has played little role in recent years. A buyout doesn’t give the Bolts the full savings they’d hope for this upcoming season and a trade likely remains preferable, but Callahan’s stock is not high and a buyout remains the more likely resolution.

Valeri Nichushkin, Dallas Stars

Contract Remaining: One year, $2.95MM cap hit
Buyout Cost (each year): $700K/$450K

Nichushkin’s age makes his buyout fall under the second category of buyout wherein only one-third of the remaining salary is accounted for. As such, his buyout would mean almost nothing for Dallas’ cap calculations. The young winger failed to score a goal last season as a regular player and both sides would seemingly benefit from a split. It’s not certain that the Stars will move on, but should they choose to, a buyout is a painless option.

Brendan Smith, New York Rangers

Contract Remaining: Two years, $4.35MM cap hit
Buyout Cost (each year): $971K/$3.146MM/$1.146MM/$1.146MM

Smith has been a disaster in New York and certainly not the player that the Rangers saw perform well in the postseason as a deadline addition in 2016-17. It’s hard to see a fit for Smith moving forward, even more so than other unfriendly defense contracts like Marc Staal and Kevin Shattenkirk. It’s even more difficult to see him having any trade value, so the team would have to go the buyout route. It’s not a terrible option, but as frequently happens, the year one savings come back to bite with a hefty year two increase.

Karl Alzner, Montreal Canadiens

Contract Remaining: Three years, $4.625MM cap hit
Buyout Cost (each year): $1.069MM/$4.194MM/$2.194MM/$1.069MM/$1.069MM/$1.069MM

Alzner had one point in nine games with Montreal last season, which is enough to say he’s not in the Canadiens’ long-term plans. He could be on their books for a long time to come with a potential six-year buyout structure, but at a relatively low cost most years. Alzner needs a fresh start and it’s fair to assume that Montreal will give him one.

Milan Lucic, Edmonton Oilers

Contract Remaining: Four years, $6MM cap hit
Buyout Cost (each year): $3.625MM/$5.625MM/$4.125MM/$5.625MM/$625K/$625K/$625K/$625K

Loui Eriksson, Vancouver Canucks

Contract Remaining: Three years, $6MM cap hit
Buyout Cost (each year): $5.556MM/$5.556MM/$3.556MM/$556K/$556K/$556K

Lucic and Eriksson have been tied together by rumors all off-season and one more thing they share: poor buyout possibilities. As bad as Lucic’s contract is, based on his drop-off in performance, his buyout is still very expensive for four more years and then extends another four years beyond that. The Oilers would be better off continuing to search for some way to trade him, no matter how slim the chances. As for Eriksson, his front-loaded contract makes a buyout pointless. The Canucks would pay almost the same amount in each of the next two years as if he was still on the team, then would have the cap penalty for another four years after that. Vancouver and Edmonton are likely stuck with these players, unless of course they swap them for each other.

Pacific Notes: Golden Knights, Oilers, Canucks

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After two years of heavy turnover and maneuvering to get their franchise off to a hot start, it looks like the Vegas Golden Knights will be taking a back seat when free agency opens on July 1. While most people weren’t expecting Vegas to be active this offseason, with their cap room already used up, Ken Boehlke of SinBin.vegas writes that President of Hockey Operations George McPhee admitted the team will be inactive:

Well we’re in pretty good shape with our core group. We have basically everyone signed up and we are close on some other things. So I don’t imagine we’re going to be out looking at free agents this summer. We like the team the way it is and we like the young guys that we have coming along.

What McPhee meant when he said the team was close on some other things could be very interesting, although it could range anywhere from a potential long-term deal with restricted free agent William Karlsson, to potential deals for fellow RFA’s Nikita Gusev, Tomas Nosek, Jimmy Schuldt or veteran UFA Deryk Engelland, or even a trade to free up cap space to sign any of them.

  • The Athletic’s Jonathan Willis (subscription required) looks at the potential compatibility between the Edmonton Oilers and the Winnipeg Jets, wondering if the two teams might be a perfect match for solving each of their problems. The scribe suggests the Jets could use Edmonton to help unload some of their less-significant contracts, such as Mathieu Perreault or Dmitry Kulikov, or if the Jets are more motivated, they could consider sending winger Nikolaj Ehlers, who is coming off a disappointing season, to Edmonton for a package that could include a defenseman such as Darnell Nurse or Andrej Sekera and some of Edmonton’s youth that could help bolster the team’s depth.
  • Allan Mitchell of the Athletic (subscription required) writes that the Oilers are in need of an inexpensive third-line center option, one that can kill penalties, suggesting the team look via the trade market to find that player. He writes that the Oilers should consider trying to pry Montreal Canadiens’ center Phillip Danault, as well as look at Winnipeg’s Adam Lowry, Ottawa’s Jean-Gabriel Pageau, Detroit’s Luke Glendening, or Dallas’ Radek Faksa. The scribe adds that the most likely candidate that Edmonton would be able to steal away could be Pageau.
  • The Vancouver Sun’s Patrick Johnston writes that the Vancouver Canucks should seriously consider trying to convince Toronto Maple Leafs unrestricted free agent Jake Gardiner to sign with them this offseason. While there have been rumors that Toronto wants to unload other contracts in hopes of keeping Gardiner in the fold, Johnston writes that Gardiner would be the perfect puck-carrying defenseman that the team hasn’t had since Alexander Edler was in his prime. However, he wonders whether the U.S.-born blue liner might prefer to avoid playing in Canada after a taking a lot of heat from Toronto fans over the years.

Jori Lehtera, Antti Niemi Sign In KHL

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Pavel Datsyuk won’t be the only former NHL player signing in the KHL today. R-Sport in Russia is reporting that Philadelphia Flyers forward Jori Lehtera has signed a one-year deal with SKA St. Petersburg, while Jokerit Helsinki have announced they agreed to terms with Montreal Canadiens goaltender Antti Niemi on a one-year deal. Both players are technically still under NHL contract through the end of the month, but are scheduled to become unrestricted free agents on July 1.

Lehtera, 31, never did work out in Philadelphia after coming over from the St. Louis Blues in 2017, and found himself in the minor leagues this season after clearing waivers. Add that demotion to a drug-related charge in Finland and it’s easy to see why he is leaving the NHL landscape for Russia to continue his career. This won’t be the first time he suits up in the KHL, as Lehtera spent four years dominating the league before ever playing in the NHL. His final season, 2013-14, he registered 44 points in 48 games and will try to get back to that level of offensive production.

Niemi meanwhile struggled last season with the Canadiens and likely wasn’t going to find another NHL backup role. Once a top young goaltender who took the Chicago Blackhawks to a Stanley Cup victory, the 35-year old’s play has deteriorated to the point where he was bought out by Dallas and played for three different teams in 2017-18. His .887 save percentage in the most recent season wasn’t enough for the Canadiens to retain him, especially when they have Charlie Lindgren ready to compete for an NHL spot behind Carey Price.

Early Notes: Karlsson, Hall, Vehvilainen

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When the end of the San Jose Sharks season came, the biggest question immediately became ’what would happen to Erik Karlsson?’ The star defenseman is a free agent this summer, but was limited by injury at the end of the year and comes with plenty of question marks, including the draft pick compensation San Jose would need to send Ottawa if he re-signed. Karlsson tweeted out a cryptic thank you to the San Jose area, and immediately many started speculating that it would be the end of his time there. Speculation erupted, with landing spots like New York and Tampa Bay seeming the most likely.

Now in a new column, Don Brennan of the Ottawa Sun suggests the unthinkable—a return to the Senators. Brennan reports that a source tells him Karlsson “hopes to receive competitive offers” from the Senators and Montreal Canadiens, in order to get closer to his wife Melinda’s family who are in Ottawa. That would certainly be a shocking development, given how Karlsson exited the Senators organization last summer and the way they have failed to sign any top talent over the years.

  • Rumors have surfaced lately that Taylor Hall isn’t interested in signing an extension with the New Jersey Devils, but his agent Darren Ferris threw some cold water on that when speaking with Mike Morreale of NHL.com. Ferris called the report “fictitious” while Devils GM Ray Shero also doesn’t know where it came from, given his recent conversations with the Hall camp. Still, both admit that there is no rush to sign a deal despite their regular communication and that Hall won’t feel pressure when he is eligible for a deal on July 1.
  • A report out of Finland from Sasha Huttunen has the Columbus Blue Jackets signing Veini Vehvilainen in the coming days, though obviously nothing is official just yet. Vehvilainen is a 22-year old goaltending prospect that the Blue Jackets drafted last year with a sixth-round pick, who dominated Finland’s Liiga for the second straight season. The report notes that the young goaltender could return to Finland to continue his development on a loan from the Blue Jackets, which makes sense given the number of netminders already under contract with the team in the minor leagues.

Snapshots: Eriksson-Lucic, Markov, NWHL

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The rumor that just won’t go away early this off-season is a potential swap between Western Canada rivals Vancouver and Edmonton of Loui Eriksson for Milan Lucic. Originally thought to just be a hypothetical deal – one that readers were split over – it turns out that the possible exchange of bad contracts has actually been discussed. TSN’s Jason Gregor reports that sources within the Canucks organization say that GM Jim Benning and company did actually sit down with the Oilers to discuss a trade centered around the two former Boston Bruins. However, Gregor notes that these talks took place in April and May and does not specify whether new Edmonton GM Ken Holland has been involved in any of those discussions. On paper, there is a discrepancy between the term and contract structure of Lucic and Eriksson, making Eriksson the lesser of two bad contracts. Yet, Lucic has been slightly more productive and brings a consistent physical edge. Eriksson arguably has the higher ceiling though, if he is able to stay healthy. Any deal between the two sides would likely have to provide an additional benefit to the Canucks, beyond just bringing home the Vancouver native Lucic, likely in the form of a pick or prospect. But the idea that the two sides have actually had talks about a trade takes this rumor from a convenient hypothetical talking point to an actual trade that could, and may even be likely, to go down this summer.

  • A rumor that did go away has surprisingly resurfaced. TSN’s Andrew Zadarnowski reports that former Montreal Canadiens defenseman Andrei Markov is drawing considerable attention on the open market. Markov, 40, is a free agent after his two-year deal with the KHL’s Ak Bars Kazan expired and he is considering all of his options. No sooner did Markov leave for the KHL than did word get out that he was eyeing an NHL return, but nothing came of it. Now, Zadarnowski states that he has already received three NHL offers, as well as a KHL offer, while Kazan has publicly stated that they would be open to re-signing the veteran leader. The NHL interest may come as a surprise, but Markov has stayed productive even in his older age, recording 47 points over two seasons in the KHL and 36 points in 62 games in his final season with Montreal in 2016-17. Surely no team in North America is willing to offer Markov a multi-year deal at age 40, but a one-year flier may work out well in the right situation.
  • “Unless there is a change of heart soon”, don’t count on women’s professional hockey in Canada in 2019-20. After the Canadian Women’s Hockey League folded earlier this spring, the National Women’s Hockey League announced a planed expansion into the Canadian market with teams in Toronto and Montreal. However, with 200 of the game’s best female players on strike, the Associated Press reports that the NWHL is likely to hold off on expansion talks until next year. The league will continue operating with five American teams and will keep working toward a resolution that is best for the game of women’s hockey.

AHL Notes: Popugaev, Jevpalovs, Weinger

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As NHL teams prepare their rosters for the pending free agent frenzy, AHL teams are doing the same. The clubs are trying to retain as much talent as possible to set themselves up for a strong 2019-20 campaign without necessarily having to rely on their parent club. With that in mind, here are some minor transactions that have taken place today:

  • The Binghamton Devils signed Nikita Popugaev to a one-year AHL deal, meaning he won’t be heading back to the KHL just yet. Popugaev came over from Russia this season and played 17 games for the Devils, recording five points and finishing a -9. The Russian winger stands 6’6″ and was an interesting prospect coming out of the CHL in 2017 when the Devils decided to use the 98th overall pick on him. His stint in the KHL went poorly from a production standpoint, but he’ll hopefully take the next step in his development for the Devils next season.
  • The Laval Rocket have agreed to terms with Nikita Jevpalovs on a one-year AHL contract. Jevpalovs went undrafted out of the QMJHL despite his 100-point campaign in 2014-15, and first signed an entry-level contract with the San Jose Sharks. Unfortunately he was not issued a qualifying offer after the 2016-17 season and decided to go overseas to the KHL. Following a disappointing season there, Jevpalovs joined the Rocket last season and recorded 25 points in 69 games.
  • The San Jose Barracuda have signed Evan Weinger to a one-year AHL contract, bringing the 22-year old forward back for another season. As a rookie in 2018-19, Weinger posted 22 points in 60 regular season games and was one of the team’s best players in a first round playoff loss. Born in Los Angeles, Weinger will get a chance to keep playing close to home next season.

Montreal Canadiens Re-Sign Xavier Ouellet

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The Montreal Canadiens have re-signed Xavier Ouellet to a one-year, two-way contract that pays him $700K at the NHL level. Ouellet was set to become a restricted free agent this summer.

Now 25, Ouellet has had quite the odd start to his NHL career. After being selected in the second round by the Detroit Red Wings in 2011, he quickly made his way through their system and debuted in the NHL during the 2013-14 season. By 2017, he signed a two-year $2.5MM extension with the Red Wings after spending the entire year in the NHL, but saw that contract bought out just a year later. It’s rare you see a player that young bought out, and it actually comes with different rules. The Red Wings were forced to pay out just one third of the remaining salary, ~$433K spread over two years.

Ouellet, then an unrestricted free agent, signed a one-year two-way contract with the Canadiens to continue his career. While he played 19 games for Montreal, his real impact came at the minor league level where the Laval Rocket named him captain in February after a trade took Byron Froese out of town. Oullet ended up with 28 points in 47 games for the Rocket as their primary puck-mover on the blue line, and now heads into next season as the young captain of a squad trying to make their way in the AHL.

He also represents some important depth for the Canadiens, given that he does have 160 games under his belt at the NHL level. Ouellet will be waiver eligible, meaning he’ll have to clear after training camp if the team wants him to reclaim his position with the Rocket to start the year.

Offseason Keys: Montreal Canadiens

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With the postseason down to just two teams, many squads are now well into their offseason planning.  What storylines lie ahead around the league in what is shaping up to be a likely busy NHL offseason?  Next up in our Offseason Keys series is a look at the Montreal Canadiens.

At this point last year, Montreal was looking like they were heading into a rebuild.  They had just finished with the fourth-worst record in the league (moving up to third in the Draft Lottery) and there were all kinds of questions surrounding their roster.  They then dealt their top two goal-scoring threats in separate trades that brought back players that had underachieved considerably the year before (and in the case of Max Pacioretty, added prospect Nick Suzuki as well).  Instead, the Canadiens turned things around rather quickly and were in the thick of the playoff race until the final two days of the regular season.  Now, instead of selling off assets for younger players, GM Marc Bergevin will be looking to add pieces to help them get back into the postseason.  Here’s what they need to accomplish this summer.

Add Left Side Defensive Help

With Shea Weber and Jeff Petry in the fold plus prospect Noah Juulsen being nearly NHL ready and veteran Christian Folin under contract as well, the right side of Montreal’s defense is in pretty good shape.  Not a whole lot of work, if any, is going to be done there.

However, the same can’t be said for their left side.  Over there, their depth consists of largely unproven players, fringe players looking to hold onto a roster spot, and Karl Alzner, whose contract was buried in the minors early in the season and still has three years remaining.  The recently re-signed Brett Kulak and Victor Mete are Montreal’s best left-shooting options and both of them are better served as complementary players, not big-minute impact ones.

Accordingly, Bergevin will certainly be on the lookout to add a top-four, left-shot rearguard to the fold.  However, there aren’t many of those in free agency; the list basically starts and ends with Jake Gardiner and Alex Edler with many expecting the latter to remain in Vancouver.  As a result, this is a void that will probably need to be filled via the trade market.  Bergevin has shown he’s willing to make big moves leading up to the draft over the last couple of years and it wouldn’t be surprising to see this be his top priority in the weeks to come.

Backup Goalie Decision

The decision to add Antti Niemi back in 2017-18 actually worked out relatively well for Montreal.  The choice to give him another contract based on how he performed down the stretch that season didn’t have the same outcome.  His continued struggles forced Montreal to almost exclusively call upon Carey Price down the stretch and with teams realizing the benefits of not playing a goaltender over 60 games per season, asking him to play in 66 contests is far from ideal.  The team announced after the season that Niemi will not be retained so they will have to find a new backup for Price moving forward.

They have an internal option in Charlie Lindgren but his stock has taken a hit over the past couple of seasons.  He has posted save percentages of .886 and .884 over the last two seasons with AHL Laval, results that don’t exactly scream ‘NHL ready’.  On the other hand, he has had some success with Montreal when called upon in the past over his 18 NHL appearances.  He’s signed for two more years with an AAV that’s just above the league minimum ($750K) which is important considering Price and his $10.5MM price tag is the richest deal in league history among goaltenders.  Since they’re paying that much for Price, picking a cheap option in Lindgren to back him up would certainly be justifiable although it would carry some risk.

Considering that they have considerable cap room (more on that momentarily), Bergevin could also turn to the free agent market.  There are several veteran backups that will be available that would provide some extra stability behind Price.  However, he will have to decide whether that extra security is worth paying two to three times more for that netminder than what it would cost to promote from within with Lindgren.

Utilize Their Cap Space

It wasn’t that long ago that the Canadiens were a team that routinely spent to the Upper Limit but they have come up well short of that mark over the past two seasons.  They currently have just over $71MM tied up in a full 23-man roster for next season, per CapFriendly so they have the ability to spend this summer.  They’ll probably use some of that on the back end and they could certainly stand to add some more offense up front as well.  If they strike out on one of those though, they’re going to be right where they were the last two seasons with lots of room and not much to spend it on.

Bergevin tried to get creative last season by taking on and buying out Steve Mason’s contract and picked up winger Joel Armia plus a pair of draft picks.  With several teams looking to be in tough when it comes to the cap, Montreal could try to get involved in that market to use some of their room.  However, with several core players in need of new contracts following the 2020-21 campaign, they’ll be looking to only take on short-term money.  Given that they wound up just missing the playoffs this past season, it will be tough to justify being well under the cap for the third straight year so if they can’t spend to add core pieces, Bergevin will have to get creative once again.

Photo courtesy of USA Today Sports Images.

Canadiens Re-Sign Brett Kulak To Three-Year Contract

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Brett Kulak was a pleasant surprise on Montreal’s back end this past season and he has been rewarded for his efforts.  The team announced that they have signed the defenseman to a three-year contract with an AAV of $1.85MM.  CapFriendly reports (Twitter link) that the deal breaks down as follows:

2019-20: $1.95MM
2020-21: $1.4MM
2021-22: $2.2MM

The season didn’t get off to a great start for the 25-year-old.  He cleared waivers at the end of training camp with Calgary, the second time that had happened for him after went unclaimed in advance of his salary arbitration hearing back in July.  Shortly after passing through, the Flames flipped him to the Canadiens for a pair of minor league defenders in Rinat Valiev and Matt Taormina.

Montreal opted to keep Kulak in the minors to start the season where he collected 11 points in 19 games before being recalled for good in November.  He started out on the third pairing but by the end of the season, he was frequently featured in their top four.  Overall, he played in 57 games with the team, recording 17 points (6-11-17) while averaging nearly 18 minutes a night of playing time.

The Canadiens don’t feature a lot of depth on the left side of their back end with only Kulak and Victor Mete seemingly being pencilled in for roster spots next season.  If they don’t address that weakness over the summer, it’s quite possible that Kulak will be in a top-four role for 2019-20 which would make this contract somewhat of a bargain if he can handle the extra minutes over an entire season.

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