St. Louis Blues Extend Brayden Schenn
The St. Louis Blues have locked up a part of their core, signing Brayden Schenn to an eight-year extension. The deal will carry an average annual value of $6.5MM and keep Schenn in St. Louis through the 2027-28 season. CapFriendly gives us the full breakdown:
- 2020-21: $8.0MM
- 2021-22: $8.0MM
- 2022-23: $5.2MM
- 2023-24: $8.0MM
- 2024-25: $8.0MM
- 2025-26: $6.5MM
- 2026-27: $4.3MM
- 2027-28: $4.0MM
Schenn, 28, was one of two big names the Blues had scheduled for unrestricted free agency in the summer of 2020, alongside captain Alex Pietrangelo. After locking up their second-line center to a long-term deal, they’ll now be able to put their full focus on the defenseman to try and keep him around. Pietrangelo’s future was put into the spotlight after the team recently acquired and extended Justin Faulk from the Carolina Hurricanes, but there is obviously still plenty of time to get a deal worked out if the team can find the cap space.
That may be an issue after this new extension for Schenn, as the Blues now have close to $74MM in salary commitments for the 2020-21 season. A $6.5MM cap hit matches Faulk’s new deal and puts Schenn ahead of everyone else not named Vladimir Tarasenko or Ryan O’Reilly, who are both signed through 2022-23 with $7.5MM average annual salaries.
Not only does this contract put the squeeze on the Blues front office in terms of cap dollars, it also brings with it a fair amount of risk given the age of Schenn when it will kick in. He’ll turn 29 before ever playing a game on the new extension, meaning the deal will take him into his mid-thirties when most players enter a rapid decline phase. The trade for that was keeping the cap hit relatively low, especially after seeing other free agent centers like Kevin Hayes receive more than $7MM this summer. Schenn compares favorably to Hayes in terms of offensive production, especially if he can get back to the level he showed in 2017-18.
One of the biggest questions about the deal however will be whether Schenn stays at center throughout the length of the contract. The 2009 fifth-overall pick has rarely been a full-time pivot and moving to the wing does take away some of his value to the team. If his offensive totals don’t rebound from the 17-goal disappointment last season and he is moved out of the center position, the $6.5MM could seem like an expensive price tag in a few years.
Still, the Blues just won the Stanley Cup on the backs of physical forwards like Schenn and they’re banking on him being an impact player for a while longer. On their playoff run last season he scored 12 points and registered 83 hits in 26 games, buying in completely with head coach Craig Berube‘s system.
Chicago Blackhawks Extend Alex DeBrincat
The Chicago Blackhawks won’t play around with a long restricted free agent negotiation next summer, instead getting their homework done early. The team has announced a three-year extension for Alex DeBrincat, taking him through the 2022-23 season. DeBrincat will earn an average of $6.4MM each year, quickly making him the third-highest paid forward on the Blackhawks roster. Pierre LeBrun of The Athletic has the full breakdown:
- 2020-21: $1.0MM salary + $4.0MM signing bonus
- 2021-22: $5.1MM salary
- 2022-23: $9.0MM salary
It’s hard to argue with a contract that locks up one of the league’s best goal-scoring talents before he even sniffs free agency, but this deal does come with a bit of risk. The third-year salary means that the Blackhawks will have to issue DeBrincat a $9MM qualifying offer, and the young forward will be arbitration eligible. Still, with two RFA years remaining after this deal and coming off an incredible 41-goal season, GM Stan Bowman did well to avoid any drawn out contract talks. In fact, should DeBrincat take another step forward this season and push for the Rocket Richard trophy, $6.4MM will seem like a steal (if it doesn’t already).
There are few players in the NHL that can match DeBrincat’s uncanny ability to get open. Whether it is slowing down on the rush to open up for a cross-ice pass, or settling into an open area after the puck has been cycled, the 5’7″ forward constantly finds himself with enough room to snap his quick shot into the back of the net. Obviously playing with talented playmakers like Patrick Kane helps, but there’s no denying the skill of DeBrincat in the offensive zone. Through the first two years of his career he has shot a whopping 17.2% and while that is likely to go down somewhat, DeBrincat’s shot selection is elite and should naturally lead to higher percentages.
The fact that he has scored 69 goals through 164 games perhaps isn’t mentioned enough when hockey fans talk about the next generation of NHL stars. Brock Boeser and Kyle Connor for instance have both scored fewer goals so far in their careers, and neither has hit that impressive 40-goal threshold in a single season. Locking up a potential league-leading goal machine for three years at a reasonable amount is nice work for the Blackhawks and Bowman.
Interestingly, a three-year extension for DeBrincat lines up with a pair of other contracts in Chicago. Kane, Duncan Keith and Jonathan Toews are all scheduled to become unrestricted free agents in 2023, meaning the team will have the ultimate flexibility at that point to pivot in a different direction if they feel the need. Should DeBrincat demand another huge raise at that point, the team will be able to craft a lineup revolving around him.
Arizona Coyotes Extend Darcy Kuemper
Just a day after claiming goaltender Eric Comrie off waivers, the Arizona Coyotes have locked up one of their other padded protectors. Darcy Kuemper has signed a two-year extension that will keep him from unrestricted free agency next summer and lock him up through the 2021-22 season. The deal carries an average annual value of $4.5MM. GM John Chayka released a short statement:
We are extremely pleased to sign Darcy to a two-year extension. Darcy had an incredible season last year and established himself as one of the NHL’s best goaltenders. With Darcy and Antti [Raanta], we are confident that we have one of the best goaltending tandems in the League.
It’s hard to argue with Chayka about Kuemper becoming one of the best goaltenders in the league, even if his stardom hasn’t risen quite as high in hockey circles. The 29-year old posted a .925 save percentage through 55 games last season for the Coyotes after Raanta went down to injury, including an incredible .933 in 2019. Finishing fifth in Vezina Trophy voting, Kuemper actually recorded the same save percentage and a better goals against average than the eventual winner Andrei Vasilevskiy.
A $4.5MM cap hit puts Kuemper 17th among goaltenders in the NHL for next season, tied with Mikko Koskinen of the Edmonton Oilers and just ahead of Jordan Binnington‘s new deal with the St. Louis Blues. It also takes him just ahead of Raanta, who is under contract through the 2020-21 season at a $4.25MM hit. That duo has shown that they are more than capable of providing excellent goaltending for the Coyotes, but will need to stay healthy in order to get Arizona back to the playoffs.
For a team that has for so long been considered a cheap organization, the Coyotes already now have more than $80MM committed to 2020-21. While some of that is Marian Hossa‘s dead contract that will be covered by insurance and can be used as long-term injury relief if necessary, the team has also made substantial investments in their core pieces over the last few years. Kuemper will be considered part of that core now for the next few seasons.
Craig Morgan of The Athletic was first to report that a deal had been reached.
Kyle Connor Signs Seven-Year, $50MM Deal With Winnipeg
The Winnipeg Jets already locked up one restricted free agent in Patrik Laine. Now, the Jets announced they have agreed to a deal with their other RFA as the team has signed Kyle Connor to a seven-year, $50MM contract, which comes to a $7.14MM AAV.
A breakdown of the contract is here as there are no signing bonuses. The deal also includes a no-trade clause in the final two years of the deal:
2019-20: $7.5 million base salary
2020-21: $8 million base salary
2021-22: $7.5 million base salary
2022-23: $5 million base salary
2023-24: $7.5 million base salary
2024-25: $7.5 million base salary
2025-26: $7 million base salary
With Connor signed to a $7.14MM deal and Laine having signed on Friday to a two-year, $6.75MM deal, the team has locked up the pair to a respectable $13.89MM combined. With the signing of both Laine and Connor, the Jets now have $7.61MM in projected cap space. Coincidentally, defenseman Dustin Byfuglien makes $7.6MM, so if the veteran does decide he wants to return to the team (he’s currently on suspension as he decides whether he wants to come back), the team has the money to pay all three players, which many felt might be a tough task for general manager Kevin Cheveldayoff. In fact, Puckpedia reports that Winnipeg now has just $116K of cap space remaining (although Byfuglien’s cap hit doesn’t count while he remains suspended). The team also would likely send a player down to when/if Byfuglien comes back, which would free up more cap space.
With the season soon to get underway and the preference to be with the team at the start of the regular season, many expected that Connor might sign this weekend. While Laine received all the press as the Jets had the misfortune of having two top restricted free agents, Connor slipped somewhat under the radar, but has been a key contributor to the team over the past two years. The 22-year-old jumped immediately onto the scene two seasons ago when he scored 31 goals and 57 points as a rookie (finishing fourth in the Calder Trophy voting). His numbers improved last year, scoring 34 goals and 66 points.
The long-term deal gives both parties some long-term security, especially needed after Laine only agreed to a two-year deal, leaving many to wonder what might happen in that time. Winnipeg already lost Jacob Trouba, who refused to sign a long-term deal with the Jets and eventually forced a trade to the New York Rangers this summer. The team hopes that Connor can continue to prove and become the playmaking puck mover that they had envisioned.
TSN’s Pierre LeBrun was the first to report the deal.
Mikko Rantanen Signs Six-Year, $55.5MM Deal With Avalanche
With a number of key restricted free agents having signed in the last few days, only a few holdouts remain. However, one has come off the board as the Colorado Avalanche have signed star winger Mikko Rantanen to a six-year, $55.5MM contract with an AAV of $9.25MM, according to NHL.com’s Brennan Klak.
“Mikko has established himself as one of the premier young wingers in the NHL and is a big part of our core group,” general manager Joe Sakic said. “We look forward to having him back with the team as we get ready to start the season.”
The breakdown of the deal is here as Rantanen contract is all base salary with no signing bonuses (according to CapFriendly):
2019-20: $12MM base salary
2020-21: $12MM base salary
2021-22: $10MM base salary
2022-23: $6MM base salary
2023-24: $9.5MM base salary
2024-25: $6MM base salary
The deal looks like a good one for the Avalanche if compared to the only other significant long-term deal to compare it to, which was Mitch Marner‘s six-year deal worth $65.36MM and a $10.89MM AAV. With Rantanen locked up at $9.25MM and Nathan MacKinnon‘s $6.3MM AAV, the team has a young tandem locked up for a inexpensive $15.55MM for the next four years.
Considering Rantanen’s statistical production, Colorado looks to have gotten a steal. Rantanen has potted 80 goals and 209 points over three seasons including a career-high 31 goals and 87 points and many believe that there is plenty more to come. Marner, on the other hand, hasn’t come close to putting up the same points over his three-year span as he has tallied 67 goals and 224 points, yet walked away with the bigger contract, suggesting that Colorado may have walked away with a impressive contract considering what they were up against with the Marner contract hanging over their heads.
The Avalanche still have a significant amount of cap space remaining as Puckpedia reports that Colorado still has $7.1MM remaining in projected cap space even after signing Rantanen to his deal.
As for Rantanen, who is currently overseas, he must pass through immigration before he can come to Colorado, although reports suggest there is still a good chance Rantanen could be available to the team for their season opener on Thursday, Oct. 3 when they play the Calgary Flames at home.
Elliotte Friedman was the first to report on the signing.
Winnipeg Jets Sign Patrik Laine
The Patrik Laine saga is over as the Winnipeg Jets have signed the star forward to a two-year deal. The contract will carry an average annual value of $6.75MM. Craig Custance of The Athletic confirms that it will pay Laine $6MM in 2019-20 and $7.5MM in 2020-21.
Laine, 21, secured the same number that Brayden Point did earlier this month, but for one fewer year thanks to his huge goal totals in the NHL since entering in 2016. The second overall pick in 2016, Laine immediately burst onto the scenes with one of the most lethal shots on the league and the ability to get to dangerous spots in order to unleash it. With 36 goals as a rookie he came second in Calder Trophy voting and followed it up with an outstanding 44-goal, 70-point sophomore year. That included a league-leading 20 goals on the powerplay, where Laine seemingly took up residence in Alex Ovechkin‘s left-circle mansion.
Unfortunately, basically every offensive statistic declined for Laine in 2018-19 (except for shots, amazingly). Suddenly an extremely inconsistent offensive player, he went long stretches without a single goal and recorded 18 of his 30 total in a 12-game stretch through November. That consistency simply has to get better if Laine ever wants to become the elite talent he has shown flashes of, and return to the upper-echelon of stars in the NHL.
If he does get back there, this two-year bridge deal could certainly pay off for him. He’ll already become Winnipeg’s second-highest paid player (at least while Kyle Connor remains unsigned) for this season ahead of Mark Scheifele but behind captain Blake Wheeler, and could potentially sign an extremely lucrative long-term deal down the road. He’ll have two years of restricted free agency left after this deal expires, but will have arbitration rights as well, meaning another situation like this is extremely unlikely.
The question now becomes if Laine is ready to jump right into game action with the Jets starting next week. Even with a two-year window, he needs to start performing right away if he wants to put this difficult negotiation behind him and set himself up to earn the most he possibly can.
For the Jets, it was extremely important to get Laine back under contract before the season started. After losing Jacob Trouba, Tyler Myers, Ben Chiarot, Brandon Tanev and potentially Dustin Byfuglien this summer, the team looks completely different and thin at several positions. Had the year begun without Laine or Connor under contract they would be even more undermanned and at an extreme disadvantage in the Central Division playoff race.
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Calgary Flames Sign Matthew Tkachuk
The Calgary Flames have finally found some common ground with restricted free agent Matthew Tkachuk. The young forward has signed a three-year contract worth a total of $21MM, ending a long negotiation and getting him back in the fold before the season begins. Darren Dreger of TSN adds that like Brayden Point, Tkachuk will have a $9MM salary in the third year, securing a large qualifying offer that could take him right to unrestricted free agency.
A deal of this magnitude not only gives Tkachuk the highest three-year bridge deal in history (eclipsing Point, who signed for three years at $6.75MM), it also makes him the highest-paid player on the entire Flames roster. While that has more to do with the bargains that are Johnny Gaudreau ($6.75MM) and Sean Monahan ($6.375MM), it also shows just how good Tkachuk has been throughout his young career.
Still just 21 years old, the sixth-overall pick from the 2016 draft has now amassed 174 points in 224 NHL games and is coming off a 34-goal campaign. His offense has continued to improve while the rest of his game—most notably his physicality and ability to get under the skin of opponents—allows him to make an impact no matter the score. The fact that he is able to compete in that fashion while not taking a ton of penalties (his 62 PIM in 2018-19 put him alongside players like Nikita Kucherov, Blake Wheeler and Ryan Strome) makes him one of the unique talents in the NHL and incredibly valuable to the Flames.
Even so, this deal certainly isn’t a perfect scenario for the Flames. Not only does it keep them in an extremely difficult cap situation this season, Tkachuk could now potentially get to unrestricted free agency as soon as possible by accepting that $9MM qualifying offer. The team will have to open extension talks at some point before that happens or risk their prize hitting the open market. Coincidentally, both Gaudreau and captain Mark Giordano have contracts that expire in 2022 as well, giving the team some real flexibility when it comes to extensions.
There’s no doubt that getting Tkachuk back under contract is cause for celebration in Calgary, but the new structure of these bridge deals is something to be concerned about for many teams. Introduced really for the first time by Timo Meier earlier this year, restricted free agents have found a way to create leverage for themselves as they near UFA status. Meanwhile those who sign long-term and give up UFA years like Mitch Marner are getting huge dollar figures right up front, meaning teams will have to be more and more conscious of leaving enough room to get their young players signed.
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St. Louis Blues Acquire Justin Faulk
The St. Louis Blues have added another exciting right-handed defenseman to their group, acquiring Justin Faulk from the Carolina Hurricanes. The Blues will send Joel Edmundson, Dominik Bokk and a 2021 seventh-round pick to the Hurricanes in exchange for Faulk and a 2020 fifth-round selection. Faulk has also immediately agreed to a seven-year extension worth a total of $45.5MM ($6.5MM AAV), taking him off the board as a potential unrestricted free agent next summer. The full contract details were tweeted by Andy Strickland of Fox Sports Midwest:
- 2020-21: $9.0MM salary + full NTC
- 2021-22: $9.0MM salary + full NTC
- 2022-23: $5.85MM salary + full NTC
- 2023-24: $7.9MM salary + full NTC
- 2024-25: $4.75MM salary + full NTC
- 2025-26: $4.5MM salary + partial NTC
- 2026-27: $4.5MM salary + partial NTC
The Hurricanes will also be retaining 14% of Faulk’s cap hit this season according to Strickland, which would equal just over $676K. GM Doug Armstrong explained the deal:
We are excited to add Justin to our core group for the next eight years. He’s a Top-4 defenseman who averages over 23 minutes a game and we are confident he will be a strong addition to our club.
Faulk, 27, had been involved in trade talks for years in Carolina, always seen as the extra defenseman that may be expendable given they already had Dougie Hamilton and Brett Pesce on the right side. When Jake Gardiner was signed recently as another powerplay option, it led to even more speculation about Faulk’s availability and even a nixed trade with the Anaheim Ducks. He’ll now find himself on the reigning Stanley Cup champion Blues, in a similar depth chart situation but with a lot more job security.
The Blues can now ice Alex Pietrangelo, Colton Parayko and Faulk as their three right-handed defensemen, giving each pairing a strong puck-moving option that can contribute offensively. The team’s powerplay will also get a significant boost, as Faulk has generated a good amount of offense over the years with the man-advantage. In fact, 40 of his 85 career goals have come a man up. He also comes at just a $4.83MM cap hit this season (before salary retention), only $1.7MM more than Edmundson was set to make.
It’s the $6.5MM AAV extension that will turn heads, as the Blues already had Pietrangelo heading into the final year of his current deal. Signing Faulk long-term means that there is already $12MM locked up on the right side before any extension for their captain, a substantial amount given Brayden Schenn also needs a new deal up front. Armstrong has been known to be ruthless with his veteran expiring players before, trading the likes of Kevin Shattenkirk and Paul Stastny in the middle of playoff runs, though Pietrangelo obviously represents a better and more important player than either of them.
Carolina meanwhile will happily snap up the return, adding a quality defenseman in Edmundson and a 2018 first-round pick in Bokk. The former could very well be flipped at some point given the Hurricanes’ blueline depth, but right now comes in as a potential third-pairing option behind Jaccob Slavin and Gardiner. Edmundson is also scheduled for unrestricted free agency in 2020, making him a nice looking trade chip if the Hurricanes believe they can fill that spot with the likes of Gustav Forsling, Haydn Fleury and Jake Bean.
Bokk meanwhile is a very interesting prospect in his own right. Selected 25th overall in 2018, he spent last season in the SHL and recorded 23 points in 47 games with the Vaxjo Lakers. He’s spending this year overseas again (though with Rogle this time), but is already signed to his entry-level deal and should compete for a spot on the Hurricanes roster before long. The 6’2″ winger is a force when he gets some speed down the wing, and showed dominant offensive ability in both the German and Swedish junior leagues.
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Tampa Bay Lightning Sign Brayden Point
The Tampa Bay Lightning have signed restricted free agent Brayden Point to a three-year contract, ending the long negotiation in time for him to get on the ice before the season begins. Point’s new contract will carry an average annual value of $6.75MM. GM Julien BriseBois explained his excitement for the deal:
We are very pleased to re-sign Brayden today. He is the consummate professional with an unwavering commitment to team success, growing as a player and improving every day. It is that mindset that makes him an outstanding role model, teammate and person, on and off the ice. We look forward to getting Brayden back on the ice with his Lightning teammates as soon as possible.
A three-year bridge deal continues the Tampa Bay tradition with their top players, and provides them with a chance to get some incredible excess value over the next few seasons. The Lightning have previously signed Nikita Kucherov and Andrei Vasilevskiy to similar three-year deals that turned out extremely well for the team before locking them into long-term contract extensions as they approached free agency for the second time. That’s likely the same plan they have for Point, as this contract will leave him an RFA in 2022 though a $9MM qualifying offer will give Point a potential avenue to get to unrestricted free agency. Pierre LeBrun of The Athletic provides the full breakdown:
- 2019-20: $1.9MM salary + $4.25MM signing bonus
- 2020-21: $2.5MM salary + $3.5MM signing bonus
- 2021-22: $9.0MM salary
Even though they only lock him in for three years at this price, a $6.75MM salary seems incredibly reasonable for a player of Point’s talents. The 23-year old center has transformed himself into one of the most dynamic two-way centers in the league, scoring 41 goals and 92 points last season while also being nominated for the Selke Trophy as one of the league’s best defensive forwards. A third-round pick in 2014 that had questions around his skating and upside at the professional level, Point has improved dramatically every season and now has 91 goals and 198 points in 229 career regular season games.
This new salary does make Point the third-highest paid forward on the Lightning behind Kucherov and Steven Stamkos, but leaves the Lightning with some wiggle room under the cap. The team now projects to have about $1.7MM in cap space with a 23-man roster, something that seemed impossible at the start of the offseason. Tampa Bay recorded one of the best regular seasons in NHL history last year and will head into 2019-20 with a very similar group. Though Anton Stralman, J.T. Miller and Dan Girardi are gone, the team replaced them with names like Kevin Shattenkirk, Patrick Maroon and Luke Schenne. The fact that many of the team’s other role players have been retained is a testament to how well the front office has navigated the cap over the last several years.
That difficult path won’t end now though. With Point’s deal in place and an extension for Vasilevskiy kicking in for 2020-21, the team will once again be facing a severe cap crunch. With that in mind, there will be even more pressure to perform this year and find more postseason success than they had in 2019.
With another RFA off the board, the focus now turns to Matthew Tkachuk, Mikko Rantanen, Patrik Laine and Kyle Connor to get contracts finalized before the season starts. Given Point’s status as arguably the best (or at least most valuable thanks to his position) of that group, this deal should help provide a template for potential bridge deals in other cities. Mitch Marner, who signed a six-year $65MM deal recently, may give the other end of the spectrum and provide a template for a long-term deal.
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Thomas Chabot Signs Eight-Year Extension
The Ottawa Senators have put their money where their mouth is, signing Thomas Chabot to an eight-year extension. Starting in 2020-21, Chabot’s new contract will carry an average annual value of $8MM and keep him in a Senators uniform until 2028. GM Pierre Dorion explained just how important it was to sign Chabot:
Thomas is an exceptional talent and an outstanding teammate, who is impactful both on and off the ice. He is the type of player that can develop into a core member of a championship-level team in the National Hockey League. He is an NHL all-star; an elite skater and puck-mover who plays with pace and determination. We are convinced Thomas will have a significant impact on the Ottawa Senators as we develop and grow into a highly competitive team over the coming seasons and we are extremely proud that Thomas will continue to be a key part of our team’s future success moving forward. Today is a great day for the Ottawa Senators franchise.
Chabot’s $64MM contract extension immediately becomes the biggest contract Dorion has signed in his time as Senators’ GM, dwarfing the previous $28.5MM given to Colin White last month. The deal will break down as follows:
- 2020-21: $7.0MM
- 2021-22: $7.0MM
- 2022-23: $4.0MM
- 2023-24: $8.0MM
- 2024-25: $10.0MM + 10-team NTC
- 2025-26: $10.0MM + 10-team NTC
- 2026-27: $10.0MM + 10-team NTC
- 2027-28: $8.0MM + 10-team NTC
The fact that Chabot is the player the Senators have broken the bank for comes as little surprise after the outstanding start to his young career. The 22-year old defenseman has 80 points through his first 134 NHL games, including a 55-point campaign last season that earned him an All-Star game appearance and Norris Trophy votes. Selected 18th overall in 2015, he has quickly become one of the best young defensemen in the entire league and will be the linchpin in any Ottawa turnaround. Getting him under contract before a third season and RFA standoff that could have put his cap hit into the stratosphere will only help down the line, though there will still be some who look at the contract with a dose of skepticism.
Given the Senators’ recent history of not paying their stars, the fact that this contract is heavily back-loaded will raise some eyebrows. The Senators will pay out just $18MM of the $64MM total by the end of 2022-23, leaving a huge chunk of the deal on the table over the last five seasons. That’s not how most long-term deals have been structured in recent years, with players wanting a good portion of the money up front, or at least in signing bonuses. While the 2022-23 salary can be explained away as protection against a potential lockout, Chabot won’t see the biggest financial terms until his actual unrestricted free agent years kick in down the line.
Even with that slight hesitation, the Senators and their fans should be ecstatic to have Chabot under contract for almost a decade. The deal will put him right alongside Jacob Trouba, Brent Burns and John Carlson for the fifth highest-paid defensemen in the league, a ranking he has shown capable of to this point. With still so much development in front of him there’s a real chance that Chabot could be bringing home some individual awards in the future, and hopefully leading the extremely young Senators team back to the postseason at some point.
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