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Mikhail Sergachev Re-Signs With Tampa Bay Lightning

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The Tampa Bay Lightning have locked up one of their incredible young talents for another few years, signing Mikhail Sergachev to a three-year contract. The deal will carry an average annual value of $4.8MM. Sergachev was a restricted free agent without arbitration rights. Pierre LeBrun of The Athletic reports the full breakdown:

  • 2020-21: $2.4MM
  • 2021-22: $4.8MM
  • 2022-23: $7.2MM

Technically, this move takes the Lightning about $2MM over the $81.5MM salary cap ceiling for the upcoming season, with Anthony Cirelli and Erik Cernak still to sign. Still, getting Sergachev under contract for a reasonable amount was imperative, especially with the threat of an offer sheet still theoretically out there.

Make no mistake, even at $4.8MM, Sergachev still represents some excess value for the Lightning. The 22-year-old defenseman, who the Lightning acquired in exchange for Jonathan Drouin in 2017, would likely be a top-pairing player already on many of the teams around the league. That hasn’t been required in Tampa Bay where Victor Hedman and Ryan McDonagh continue to soak up huge minutes on the blue line, but Sergachev has still seen substantial increases in playing time each season. This year, his third with the Lightning, he recorded a career-high 10 goals in 70 games, racking up 34 points and logging more than 20 minutes a night. That performance carried over to the postseason where he was even more effective, averaging more ice time than any Tampa player not named Hedman or McDonagh en route to a Stanley Cup victory.

Not only could Sergachev probably shoulder a heavier offensive load, but his defensive game has also improved enough to believe he could be an all-situations star. He became a legitimate option on the penalty kill this season, producing excellent results whenever trusted to be out there short-handed, while still playing a strong second fiddle to Hedman on the team’s powerplay units. Financially, he’ll now slot in behind Hedman ($7.875MM cap hit) and McDonagh ($6.75MM) in a tricky cap puzzle for GM Julien BriseBois.

That puzzle has a few extra pieces right now, making it even more challenging to finish. The team will have to at some point move out one or more of their expensive contracts like Tyler Johnson, who was shopped and placed on waivers earlier this summer. There is of course the chance that a player could be injured and placed on long-term injured reserve to help them become compliant, but with Cirelli and Cernak to come the team simply can’t afford everyone.

Sergachev will still be a restricted free agent when this contract expires, though he’ll be just one year away from UFA status and arbitration-eligible. If his career continues down its current path, he’ll have an incredible amount of leverage in his next negotiation. One would have thought the offer sheet scenario would have been extremely enticing to a player like him, who could have certainly made more elsewhere, but Joe Smith of The Athletic reports that Sergachev actually agreed to a three-year structure with the Lightning shortly after the season ended and wanted to “give it another go” with the Cup champions in Tampa.

Photo courtesy of USA Today Sports Images

Ryan Strome Signs With New York Rangers

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The New York Rangers have reached an agreement with restricted free agent forward Ryan Strome ahead of his arbitration hearing, signing him to a two-year contract worth a total of $9MM according to Larry Brooks of the New York Post. Strome’s hearing had been scheduled for later today, with his camp filing for $5.7MM and the Rangers filing for $3.6MM. This deal’s AAV comes down in the middle of those two numbers, but also importantly buys out an extra year of unrestricted free agency.

Strome, 27, could only have received a one-year contract from the arbitration process as he was scheduled to become an unrestricted free agent after this season. The fifth-overall pick from 2011, he has already played in 491 NHL games in his career. Those haven’t all been successful outings, but Strome did seem to find his footing again after landing in New York in 2018. With 59 points in 70 games last season he was the team’s best offensive weapon behind the super-pair of Artemi Panarin and Mika Zibanejad, though that isn’t expected to continue. The Rangers have a number of blue-chip prospects ready to make an impact including 2020 first-overall pick Alexis Lafreniere.

What Strome does still represent is a solid middle-six center for a team that suddenly looks like they will compete for a playoff spot. Their offense is young, skilled, and deep, while the crease is safe in the hands of two young netminders. Tony DeAngelo was re-signed to a two-year deal, and Adam Fox looks like a future star.

Even if they decide that Strome isn’t the player they want to sign a long-term UFA deal with, the Rangers will have two cracks at it with him on this new deal, one that certainly doesn’t impede their ability to add even more. Only Brendan Lemieux remains unsigned and the team has more than $6.3MM in cap space.

New York Islanders Sign Ryan Pulock

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The New York Islanders have signed restricted free agent defenseman Ryan Pulock to a new two-year contract. The deal, according to Elliotte Friedman of Sportsnet, will carry an average annual value of $5MM. Pulock had a salary arbitration hearing scheduled for later this week, which will no longer be necessary. Pierre LeBrun of The Athletic provides the full breakdown:

  • 2020-21: $2.26MM salary + $740K signing bonus
  • 2021-22: $5.16MM salary + $1.5MM signing bonus

Because he is an unassuming piece of the Islanders defensive puzzle, you may not realize just how good Pulock has been over the last several years. Over the last three seasons, Pulock ranks 33rd in scoring among NHL defensemen with 104 points in 218 games, 21st in goals with 23. That already puts him in the upper-echelon of offensive blueliners, but given he also brings a steady defensive stick and physical presence it’s hard not to wonder why he gets so little league-wide praise.

With a $5MM price tag, perhaps he’ll start getting his due as one of the better defensemen in the league and a leader on the Islanders back end. The concerning part for New York fans, is how long he’ll stay a part of that Islanders back end.

A two-year contract means that Pulock will reach unrestricted free agency in the summer of 2022 when he is just 27 years old. If he’s not re-signed by then, he’ll be one of the youngest free agents on the market and likely able to command a huge, long-term offer. Should his offensive production continue, there’s a chance he even would be one of the very best free agents available at any position.

Still, for now he can provide strong play for a reasonable price and fits into an Islanders financial situation that will have a chance to reset itself in a few years. Pulock, Johnny Boychuk, Nick Leddy and Thomas Hickey are now all on contracts that expire following the 2021-22 season, meaning the team will have the option to build their defense around a different—and likely younger—core.

Because Pulock was the Islanders final arbitration case, they will now receive a 24-hour buyout window that will open on Friday. They can only buy out players that have a cap hit of at least $4MM.

Detroit Red Wings Sign Anthony Mantha

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The Detroit Red Wings have reached an agreement with Anthony Mantha on a new four-year contract. Elliotte Friedman of Sportsnet reports that the deal is worth an average annual value of $5.7MM. Pierre LeBrun of The Athletic provides the full breakdown:

  • 2020-21: $4.5MM
  • 2021-22: $5.3MM
  • 2022-23: $6.5MM
  • 2023-24: $6.5MM

This multi-year contract locks up a core piece of the Red Wings forward group and actually becomes the longest deal on the books for GM Steve Yzerman. Mantha is the only player in the organization currently signed through the 2023-24 season, with even Dylan Larkin expiring a year earlier. That term and security likely bought Detroit some cap savings on the deal, given how effective Mantha has been in his last few seasons.

A first-round pick in 2013, it took a few years for the power forward to fill out and reach the NHL. When he did though, he brought the instant goal scoring that he had provided at every other step of the way, scoring 17 in his first full season in Detroit. Mantha followed that up with 24 goals in his sophomore campaign and 25 in just 67 games in 2018-19, showing how easily he would be able to reach the 30-goal threshold at some point.

Unfortunately, after scoring 12 goals and 24 points in his first 29 games of 2019-20, Mantha was injured when he was tossed to the ground by Toronto Maple Leafs defenseman Jake Muzzin. He would miss more than six weeks of the season, making his return to the lineup in mid-February. Perhaps even more effective down the stretch, Mantha put up 14 more points in 14 games before the season was halted, bringing his totals to 16 goals and 38 points in just 43 games this year.

That kind of per-game production, especially for a player that is still squarely in his prime, is usually rewarded with even more money than Detroit committed here. The deal buys out two years of unrestricted free agency and could look like a steal if Mantha can get healthy enough to play every night, finally reaching that 30-goal mark.

For the Red Wings, who are still in their rebuilding phase, this represents a relatively low-risk investment in a core player. Without any other long-term commitments, the team has ample cap space over the next few years to develop and sign their young talent. Names like Darren Helm, Valtteri Filppula, Luke Glendening, Marc Staal, Patrik Nemeth, and Jonathan Bernier are all on contracts that expire after this season, opening up the playbook for Yzerman to build the squad as he sees fit.

Photo courtesy of USA Today Sports Images

Buffalo Sabres Avoid Arbitration With Victor Olofsson

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One of the most intriguing arbitration cases scheduled for the next few days was Victor Olofsson, the Buffalo Sabres sniper who has scored 22 goals and 46 points in his 60-game NHL career. Despite being a relative newcomer to the NHL, Olofsson is already 25 and is a lot closer to unrestricted free agency than some of his rookie counterparts. His hearing was scheduled for November 4, but it appears as though it will not be necessary. The Sabres have signed Olofsson to a two-year contract that carries an average annual value of $3.05MM. Pierre LeBrun of The Athletic reports that it will pay Olofsson $2.85MM in 2020-21 and $3.25MM in 2021-22.

Not only does a two-year deal limit the cap hit and provides a very real chance for the Sabres to receive excess value out of the young forward, but it also leaves him a restricted free agent in 2022. While he has already turned 25, Olofsson’s birthday comes after the normal start of free agency meaning this deal does not walk him right to the UFA market. At its expiry, the two sides will have a chance to work out a long-term deal should his outstanding goal production continue.

Even though he has real 30-goal potential, there are some things to consider about Olofsson’s production so far. Only nine of his 22 career goals have come at even-strength, and this year he scored on 15.7% of his shots. If used properly he can be a game-changing presence on the powerplay, but he has still yet to prove that he can jump over the boards and produce at even-strength on a regular basis.

Still, there’s a lot to like about a deal that pays him about half of what the Sabres owe Kyle Okposo in each of the next three seasons, or what they could have found on the free agent market. Olofsson will join a top-six that suddenly looks quite impressive, after the offseason additions of Taylor Hall and Eric Staal. The team also has top prospect Dylan Cozens coming and still have Jack Eichel in the middle of it all, providing all-world production.

At the end of this deal, Olofsson will be arbitration-eligible once again and could potentially get himself to unrestricted free agency by taking that one-year award. He’ll also be owed a hefty qualifying offer of $3.25MM, something he could fall back on if his production dips but the Sabres still want to keep him around.

Because this was their final arbitration case, Buffalo will now receive a short buyout window starting two days from now.

Photo courtesy of USA Today Sports Images

Devon Toews Avoids Arbitration

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One of the most interesting arbitration cases on the schedule this year was Devon Toews, who would have had to sit across the (virtual) table from Colorado Avalanche management that barely knew him. The Avalanche traded two second-round picks for Toews earlier this offseason, taking him away from the New York Islanders. That hearing, scheduled for October 31, will not be needed anymore, as the team has reached a four-year contract with Toews that will pay him an average annual value of $4.1MM.

CapFriendly has the full breakdown:

  • 2020-21: $2.35MM
  • 2021-22: $3.55MM
  • 2022-23: $4.6MM
  • 2023-24: $5.9MM

Toews, 26, is giving up three years of unrestricted free agency in the deal and turning down the chance to walk into the open market next offseason. An arbitration award would have only been able to be a one-year deal, making him a UFA at the age of 27. In exchange for giving that up, Toews has received quite the raise over the $700K salary he had averaged over the last two seasons.

Though it took him a while to get to the NHL, when he did, Toews found immediate success. A fourth-round pick in 2014 after his first season at Quinnipiac University, Toews would stay in college for two more years before joining the Islanders organization. In 2016-17 he would burst onto the AHL scene with 45 points in 76 games, racking up the most assists by any rookie and earning himself a place on the All-Rookie team.

Though injuries would limit his sophomore year, Toews would finally make it to the NHL just before Christmas in 2018 and never look back. In his first season with the Islanders he recorded 18 points in 48 games while averaging a little less than 18 minutes a game, but both those numbers ballooned in 2019-20.

Now thrown over the boards for more than 20 minutes a night and given regular powerplay time, Toews racked up 28 points in 68 games and was a monster in almost every possession statistic.

In Colorado, while the powerplay opportunity may disappear thanks to the presence of talented youngsters like Cale Makar and Samuel Girard (not to mention Bowen Byram, who is on the way), he’ll represent a perfect two-way complement that can slide in beside almost anyone. In fact, he seems a capable replacement for Ian Cole, who has quietly been extremely effective since ending up in Colorado, but whose contract expires after the 2020-21 season.

Buffalo Sabres Re-Sign Sam Reinhart

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With the filing numbers due today in the arbitration case between the Buffalo Sabres and forward Sam Reinhart, the two sides instead have come to terms on an extension. However, the new deal looks more like one that might have been rewarded by an arbitrator anyhow than the long-term agreement many expected. The Sabres have announced a one-year, $5.2MM deal with their young forward. Reinhart will be a restricted free agent with arbitration rights again next summer.

Reinhart, 24, has seemingly settled for a one-year deal rather than pursue a long-term contract that almost certainly would have resulted in a higher AAV. The team likely pushed for this short-term resolution, perhaps still skeptical about Reinhart’s long-term value. There is no doubting that the 2014 second overall pick is at least a reliable top-six forward that any NHL team would be lucky to have. Reinhart has not missed a game in the past three seasons and has only missed six total since becoming a full-time player in 2015-16. In his five pro seasons, Reinhart has at least 42 points each year, including four 20+ goal seasons and a career high 65 points in 2018-19. While these are impressive numbers, Reinhart’s 82-game pace this past season would have resulted in a decline to 59 points and still would have kept him from cracking 30 goals. The Sabres may simply want to wait one more year, and risk the price tag on Reinhart going up considerably, to see if that 65-point campaign was an outlier or what’s to be expected for years to come.

Should Reinhart return to 60+ point production in 2020-21, he will be looking at a significant raise in the off-season. Now just one year away from unrestricted free agency when this contract expires, the Sabres will be buying up almost entirely UFA years when they re-sign Reinhart to a multi-year deal. What might the market value be for a soon-to-be 25-year-old with multiple 60+ point seasons on his resume who regularly scores 20+ goals and is a possession leader for his team? Easily over $7MM per year.

Another reason why the Sabres might not have wanted to jump on a long-term deal worth $6-7MM annually this off-season is their current salary cap situation. While Buffalo is not quite in cap trouble (see the Taylor Hall contract), their flexibility is starting to run out. After signing Reinhart, CapFriendly projects the Sabres to have just over $9MM in cap space with just 19 players on the current roster. While arbitration was avoided with Reinhart, the club still has a pair of major cases to be settled. Projected starting goaltender Linus Ullmark is scheduled for a hearing on Monday, with the salary range on an award set at $1.8-$4.1MM and a resolution likely to fall somewhere in that area as well. Early next month, they also have a case with Victor Olofsson on the docket. The 25-year-old forward was an older rookie this past season, but his 42 points in 54 games was impressive all the same. A player who outscored Reinhart on an 82-game pace (64 points) in his first NHL season is likely to command a sizeable salary as well. With the result of those two cases still unknown, first-round prospect Casey Mittelstadt in need of a new deal as well, an a couple of additional roster spots still needing to be filled, the Sabres don’t have as much cap space as it may seem and keeping the salary down on Reinhart may have prevented the team from having to make some difficult roster decisions to get under the cap this season.

Connor Brown Avoids Arbitration

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The Ottawa Senators have avoided arbitration with Connor Brown, settling on a three-year contract just hours ahead of his scheduled hearing. The new contract will carry an average annual value of $3.6MM and keeps Brown under contract through the 2022-23 season. Senators GM Pierre Dorion released the following statement:

We’re very happy to have Connor back under contract. He brings a veteran presence to our lineup and is a player who can play in different situations. He’s durable, has a strong work ethic with great practice habits and is regarded as a leader by his teammates. His ability to play up and down the lineup while producing offensively is especially valuable to us as we continue our transition towards being a consistent winner.

Brown was scheduled to have an arbitration hearing later today. That would have resulted in a one-year contract that would have taken the 26-year-old right to unrestricted free agency, but he’ll stay in the organization a little longer with this three-year deal. Brown had filed for $4.8MM while the team had filed for just $2.25MM.

All five of this week’s arbitration hearings were settled prior to taking place. The next one on the schedule is Tyler Bertuzzi on Sunday.

Brown scored a career-high 43 points this season with the Senators, while averaging more than 20 minutes a night to lead their entire forward group. That included a huge amount of penalty killing responsibility, along with a good amount of powerplay time as well. That versatility is key to why Brown is so well-liked on any team he plays for, and a big reason why the Senators have decided to keep him around.

Joe Thornton Signs With Toronto Maple Leafs

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The Toronto Maple Leafs have signed Joe Thornton to a one-year contract worth the league minimum of $700K. The deal does not include any performance bonuses but Pierre LeBrun of The Athletic does confirm that it includes a no-movement clause.

It’s been a long courtship of Thornton in Toronto. The team made a real pitch to bring him to the Maple Leafs back in 2017 alongside former teammate Patrick Marleau, but the San Jose Sharks legend returned to California instead. Three years later and the team has landed their man, though he certainly won’t be a centerpiece of the roster this time around.

Now 41, there’s no question that Thornton isn’t the player that won the Hart Trophy in 2006 or even the one that scored 51 points in 2018-19. He had just seven goals and 31 points last season for the Sharks, his lowest total since a 1997-98 rookie campaign. But Toronto isn’t bringing in Thornton to be the focus of the offense, but a veteran leader to add another voice in the dressing room and a little more responsibility on the bench.

If there is anyone who can understand the pain of failing playoff expectations, it’s Thornton. After 1,636 regular season games and 179 more playoff contests, the future Hall of Famer forward has still not sipped from Lord Stanley’s Cup. Ninth all-time in games played, seventh in assists, and 14th in points, Thornton will be joining only the third NHL team of his long career.

Currently playing in Switzerland for the club team in his offseason home, Thornton’s fit in Toronto isn’t even exactly clear at this point. The team already re-signed Jason Spezza to serve on the fourth line and brought in names like Wayne Simmonds, Jimmy Vesey and Travis Boyd to battle for spots in the bottom-six. If Thornton is to be penciled into that group, it seems likely that there could be another body—perhaps Pierre Engvall, who is still waiver-exempt—headed back to the minor leagues.

The Maple Leafs also still need to sign arbitration-eligible Ilya Mikheyev, who has a hearing later this month, as well as restricted free agent defenseman, Travis Dermott. All that without any actual cap space, though every time they add a $700K forward they can theoretically add some cap space by sending someone else down or trading them to another team.

There’s likely still more maneuvering for GM Kyle Dubas, but the Maple Leafs have landed one of their targets. Whether that target has any game left is still to be seen.

Photo courtesy of USA Today Sports Images

Ottawa Senators Sign Evgenii Dadonov

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The Ottawa Senators have made a splash on the free agent market, signing Evgenii Dadonov to a three-year, $15MM contract. Dadonov was one of the highest-ranked free agents remaining on our Top 50 UFA list. Senators GM Pierre Dorion released a statement:

We’re thrilled to have come to an agreement with Evgenii. He’s an elite offensive talent and a very consistent scorer as demonstrated by his point totals over the last three seasons. This is a key signing for us as it adds a player who will help us produce offensively and one with a proven track record on the power-play.

Pierre LeBrun of The Athletic reports that the deal also includes a 10-team no-trade clause. Dadonov will earn $3.5MM in 2020-21, $5.0MM in 2021-22 and $6.5MM in 2022-23.

The Senators are having quite the offseason, starting with the 2020 Entry Draft where they selected twice in the first five picks and six times in the first two rounds. The team then solidified the goaltending position by acquiring and extending Matt Murray, while also bringing in some physicality with the trade additions of Josh Brown, Erik Gudbranson, and Austin Watson.

While those additions may have seemed like a way to protect the young core, this move signifies that the front office believes they may be ready to compete sooner than expected. Dadonov, 31, is one of the better offensive players in the league and has recorded at least 25 goals in each of the three seasons since returning from the KHL. He’ll immediately become one of the team’s most dangerous options on the powerplay and can help lengthen out a lineup that was previously led by a bunch of very young players.

As with any signing the Senators make though, it is important to note how back-loaded the deal is. They have a history of moving players out before they get too expensive and with nearly half of the deal’s salary due in the final season that could still be the case here. Still, the team has obviously decided that their competitive window is opening quickly and needed some more scoring punch.

With Dadonov off the board, former teammate (and former Senator) Mike Hoffman is now alone as the top available option. While mid-level players like Mikael Granlund and Erik Haula are also still unsigned, Hoffman is the only real “splash” player still looking for a home.

Photo courtesy of USA Today Sports Images

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