Vancouver Canucks Sign Brock Boeser
The Vancouver Canucks have come to a resolution with Brock Boeser, signing him to a three-year contract worth a total of $17.625MM. That means Boeser will carry an average annual value of $5.875MM, a fair amount less than numbers that had been discussed earlier this summer. GM Jim Benning released a short statement on the deal:
We’re very pleased to have Brock re-sign. He’s a talented player, a key contributor to our offence and an important part of our team’s future. We look forward to having Brock join the team in preparation for the upcoming season.
As with several other restricted free agent contracts, Boeser’s deal will be back-loaded to force the team into giving him an expensive qualifying offer down the road. The full breakdown of the deal comes from Dan Murphy of Sportsnet:
- 2019-20: $700K salary + $3.3MM signing bonus
- 2020-21: $3.125MM salary + $3.0MM signing bonus
- 2021-22: $7.5MM salary
That means that the Canucks will have to offer Boeser at least $7.5MM in 2022, given he will still be a restricted free agent at the end of the deal. As we wrote earlier today when things were picking up between the two sides, the 22-year old Canucks forward was in a different situation than many of the other unsigned RFAs. He and Charlie McAvoy of the Boston Bruins were both ineligible for offer sheets after making their NHL debuts following college seasons in 2017, giving them even less leverage in negotiations. As it turned out, both players have signed three-year deals to get them to their arbitration years.
In Boeser’s case, he still landed quite the raise and will immediately become the second highest-paid forward on the Canucks roster (only trailing fourth-line winger Loui Eriksson). For good reason too, given the 59 goals he has scored over his first 140 games in the NHL, a rate that puts him 17th in the entire NHL since the start of the 2016-17 season. That kind of first-line production will make Boeser a bargain right away for the Canucks as long as he can stay healthy, something that has been something of an issue so far in his career.
For the Canucks, there was no way they could afford to start the season without Boeser in the lineup. Vancouver spent up to acquire more talent this offseason by signing Micheal Ferland and Tyler Myers in free agency, while trading a first-round pick for J.T. Miller. After a few years of rebuilding the team wants to start contending for the playoffs once again, with Boeser, Horvat and Elias Pettersson driving the play up front.
The question now becomes who else is on the roster behind them. The team has 15 forwards signed to one-way contracts plus Pettersson and Adam Gaudette who are both still on their entry-level deals. 13 of those one-way deals are for at least $1.25MM, meaning they would still be felt (in part) against the cap even in the minor leagues. Boeser is also the only one of them that is still waiver-exempt, meaning there will be tough choices on who to expose to the rest of the league at the end of training camp if the group is healthy.
Boeser’s signing leaves just nine restricted free agents still to sign.
Philadelphia Flyers Agree To Terms With Travis Konecny
The Philadelphia Flyers have locked up their final restricted free agent, this time agreeing to terms with Travis Konecny. The young forward will sign a six-year contract that will carry an average annual value of $5.5MM. Flyers GM Chuck Fletcher released a short statement on the deal:
We are happy to have Travis under contract for the next six seasons. Travis has shown progression in each of his three seasons and is an integral part of our group of young forwards. His speed, skill and tenacity sets him apart in today’s NHL.
Pierre LeBrun of The Athletic—who accurately suggested Bo Horvat‘s six-year $33MM deal was a comparable this morning—provides the full breakdown:
- 2019-20: $1.0MM salary + $3.0MM signing bonus
- 2020-21: $3.0MM salary + $2.0MM signing bonus
- 2021-22: $5.25MM salary
- 2022-23: $3.75MM salary + $2.0MM signing bonus
- 2023-24: $6.0MM salary
- 2024-25: $4.0MM salary + $3.0MM signing bonus
Konecny, 22, was the 24th overall pick in the 2015 draft but quickly acclimated himself to the NHL level. Playing a full season in 2016-17 he showed off some impressive playmaking skills, and has now posted consecutive 24-goal campaigns over the last two years. The talented forward still hasn’t been able to break 50 points in a single year, but at least some of the reason for that is a simple lack of opportunity. Konecny averaged just over 15 minutes of ice time last season which was actually a career-high, and wasn’t a regular member of the first powerplay unit.
There’s no real guarantee that the man-advantage opportunity will increase for Konecny this season, but he should see more time at even-strength. He now slides in as the fifth-highest paid forward on the team, and with a huge investment in him the Flyers should be giving him every chance to succeed. If they do, that $5.5MM cap hit could become a bargain very quickly, especially compared to some of the other numbers his 2015 draft-mates are starting to pull in.
For the Flyers, they now have several pieces of their offense locked in long-term, but will have one more key negotiation coming up next summer with Nolan Patrick. Konecny joins Jakub Voracek, Kevin Hayes, Ivan Provorov, Shayne Gostisbehere and James van Riemsdyk with deals that carry through at least the 2022-23 season, while Sean Couturier and Claude Giroux still have three years each on their respective contracts.
Still, the team doesn’t have much cap space as they head into the season. Currently projected at just over $80.3MM in salary commitments for 21 roster players, the team may have to move players up and down regularly to accrue any additional room.
Photo courtesy of USA Today Sports Images
NHLPA Formally Declines CBA Opt-Out Clause
Just like the NHL did a few weeks ago, the NHLPA has now formally declined their option to reopen the CBA following the 2019-20 season. That means the current agreement will remain in effect until September of 2022, avoiding any work stoppages during that time. The NHLPA executive director Donald Fehr released this statement:
While players have concerns with the current CBA, we agree with the league that working together to address those concerns is the preferred course of action instead of terminating the agreement following this season. We have been having discussions with the league about an extension of the CBA and expect those talks will continue.
When combined with the league’s decision, this is a very positive step that guarantees labor peace for at least three more years. The two sides will have a much longer runway to approach any CBA extension discussions, though by no means are those talks settled. The players and league both indicated in their announcements that they are not fully satisfied with the way the agreement is currently structured, meaning there will surely be some tense negotiations in the future. Topics like rising escrow levels, contract structuring and international competitions are some of the hot-button topics, though there are sure to be more brought up in the next few years.
Still, this can be celebrated by hockey fans that were dreading another work stoppage at the end of this season. The league has frustratingly gone through several over the last few decades, including the most recent one during the first half of the 2012-13 season. With this announcement, the hockey world can enjoy this season without the feeling of impending doom that has so often accompanied the sport.
Boston Bruins Sign Charlie McAvoy To Three-Year Deal
With two of the major RFA defensemen already signed, many eyes are looking at Boston Bruins blueliner Charlie McAvoy. TSN’s Bob McKenzie reports that the deal is done with McAvoy signing a three-year deal with a $4.9MM AAV. That is actually slightly less than the deal that Columbus Blue Jackets’ Zach Werenski signed six days ago. He signed a three-year deal with a $5MM AAV.
However, McKenzie notes that McAvoy can make up the difference in three years as his third year salary and qualifying offer base will be $7.3MM, which is $300K more than the $7MM salary that Werenski is scheduled for in three years. The deal looks to be a steal for the Bruins who have inked a top-line defenseman for three more years at a reasonable price.
CapFriendly reports the breakdown of the contract as follows:
2019-20: $1.2MM base salary, $2.5MM signing bonus
2020-21: $2.7MM base salary, $1MM signing bonus
2021-22: $7.3MM base salary
In the end, two of the three big-name RFA defensemen signed bridge deals in McAvoy and Werenski, while Philadelphia was the only team to lock up a player long-term, as they inked Ivan Provorov to a six-year, $40.5MM contract.
McAvoy, the team’s 14th-overall pick in 2016, has shown impressive skills, especially on offense, but has struggled staying healthy in his two seasons. He only appeared in 54 games last season and played in just 63 in his rookie campaign. In 117 games over two seasons, McAvoy has tallied 14 goals and 60 points and if he can stay healthy, could be in line for a bigger output this season.
Regardless, Boston looks at McAvoy as the team’s future No. 1 defenseman and his offensive skill is evident when he’s on the ice, but with plenty of cap concerns, the Bruins might be better off with a short-term deal in hopes of having more cap room available at that time. That could easily happen, however. The team will have a number of contracts coming off their books in the next couple of years, including the $7.25MM they owe David Krejci for the next two years, the $6.88MM they owe a then 37-year-old Patrice Bergeron in three years as well as the $6MM they owe David Backes over the next two years.
The signing now leaves Boston with $3.2MM in projected cap space and the Bruins still need to find cap space to fit their other restricted free agent, Brandon Carlo, to a contract.
Wild Sign Jared Spurgeon To A Seven-Year Extension
Wild defenseman Jared Spurgeon hadn’t hidden his desire to sign a long-term extension with the team but talks didn’t appear to be progressing under former GM Paul Fenton. With new GM Bill Guerin in the fold, the two sides were able to agree to a deal as the team announced that they have signed Spurgeon to a seven-year, $53.025MM contract extension that will kick in for the 2020-21 season. The $7.575MM AAV checks in slightly above that of veterans Ryan Suter and Zach Parise, making him the highest-paid player on the team when the contract kicks in.
The 29-year-old is coming off of a career season in 2018-19. He set new marks in goals (14), assists (29), and points (43) while logging more than 24 minutes a night for the third straight season. That workload was the second-highest on the team behind Suter while his total ice time played ranked eighth overall in the league.
Back in December of 2015, Spurgeon signed his current deal, one that carries a cap hit of just under $5.2MM. At the time, he didn’t have a significant track record so it was perceived to be somewhat of a risk. Instead, it has turned into quite the bargain as he has performed as a quality top pairing player at a rate that third and fourth blueliners have been getting on the open market.
Spurgeon has spent his entire nine-year career with Minnesota after not signing with the Islanders who drafted him in the sixth round back in 2008 but opted not to sign him, a decision they’d clearly like a do-over on. Meanwhile, the Wild’s decision to take a chance on him has certainly worked out better than they could have hoped.
With the deal, Minnesota could have a little bit of stability on their back end as all seven of their NHL defenders would be signed through the 2020-21 season. They also now have more than $70MM in commitments for that campaign although they now have 19 players signed. That should allow them to have some flexibility in free agency one year from now.
Michael Russo of The Athletic (Twitter link) was the first to report that a deal was imminent.
Photo courtesy of USA Today Sports Images.
Toronto Maple Leafs Sign Mitch Marner
The Mitch Marner saga is over. The Toronto Maple Leafs have finally signed their star winger, announcing that they have signed Marner to a six-year deal that carries an AAV of $10.893MM, the seventh-highest in the league. The deal buys out his remaining four years of restricted free agent eligibility as well as two years of UFA status.
PuckPedia reports that the breakdown of the deal is as follows:
2019-20: $700K base salary, $15.3MM signing bonus
2020-21: $700K base salary, $14.3MM signing bonus
2021-22: $750K base salary, $9.608MM signing bonus
2022-23: $750K base salary, $7.25MM signing bonus
2023-24: $750K base salary, $7.25MM signing bonus
2024-25: $750K base salary, $7.25MM signing bonus
The 22-year-old is coming off of a career season across the board after posting 26 goals and 68 assists; his 94 points ranked 11th in the league (fifth among wingers) while leading the team in scoring. He also added two goals and two assists in the postseason. The fourth overall pick back in 2015, Marner sits third in scoring from that draft class behind the top two picks in Connor McDavid (Edmonton) and Jack Eichel (Buffalo).
Accordingly, Marner was believed to be seeking a contract comparable to that of teammate Auston Matthews, who inked a five-year deal with a cap hit of $11.634MM last season. He ultimately came up short of that but sets a new market benchmark for restricted free agent wingers while checking in as the second-highest-paid winger in the league behind Artemi Panarin of the Rangers.
As the top RFA in this class, many expected that other free agents were waiting to see what Marner got before working to finalize their own contract. With that now done, it will be worth watching to see if that helps move the needle for other wingers such as Mikko Rantanen (Colorado), Matthew Tkachuk (Calgary), plus Patrik Laine and Kyle Connor (Winnipeg), among others.
With this deal, the Maple Leafs now have over $40MM tied up in four forwards between Marner, Matthews, John Tavares, and William Nylander. The first three of those are all in the top-seven in the league in cap hit which will make them a very intriguing team to keep an eye on as they work to remain in salary cap compliance. This type of salary structure has never really been seen so many teams will be looking to see how they’re able to work within it.
When it comes to the upcoming year, they will be making full use of LTIR this season with Nathan Horton ($5.3MM) and David Clarkson ($5.25MM) both heading on there for the entire year. However, CapFriendly projects them as currently being more than $13MM above the Upper Limit at this time so there is likely more work that needs to be done. Winger Zach Hyman and defenseman Travis Dermott are both expected to be injured to start the season and if they’re projected to miss at least three weeks, they can also start on LTIR which would allow Toronto to get under to start the year although they would need to make some moves when those players are ready to return.
Regardless of the salary cap implications, GM Kyle Dubas has to be pleased that he was able to get Marner signed before the season gets underway. In doing so, he avoids the risk of talks running well into the season as they did with Nylander a year ago. Had that happened, Marner’s AAV for this season would have been higher than $10.893MM which likely provided another impetus to get something done before the puck drops on the start of the season on October 2nd. With his deal now complete, it will be interesting to see how quickly the other dominoes around the league will fall.
Sportsnet’s Elliotte Friedman was the first to report a deal had been agreed upon while TSN’s Darren Dreger was the first to report the cap hit.
Photo courtesy of USA Today Sports Images.
Philadelphia Flyers Re-Sign Ivan Provorov
Deadlines bring action and with training camps set to open, yet another restricted free agent has agreed to terms on a new contract. The Philadelphia Flyers have re-signed defenseman Ivan Provorov to a long-term extension. Sportsnet’s Elliotte Friedman was the first to report the full terms of the contract, which is six years and $40.5MM, a $6.75MM AAV. Pierre LeBrun of The Athletic gives us the breakdown:
- 2019-20: $6.75MM salary
- 2020-21: $2.75MM salary + $2.0MM signing bonus
- 2021-22: $4.125MM salary + $3.0MM signing bonus
- 2022-23: $2.75MM salary + $2.0MM signing bonus
- 2023-24: $5.5MM salary + $3.0MM signing bonus
- 2024-25: $6.625MM salary + $2MM signing bonus
After a drawn-out negotiation, the Flyers wind up with a very reasonable contract for Provorov. Among the top young defensemen in the NHL and certainly the No. 1 defenseman in Philadelphia, the 22-year-old Provorov nevertheless settles for a cap hit that ranks just 16th among fellow defenders, tied with veterans Mark Giordano and Ryan McDonagh. Figuring for cap inflation and the corresponding rise in salaries over the next six years as well, this should prove to be a bargain if Provorov continues to progress. He is already a proven workhorse when it comes to big minutes and has shown the ability to produce at a high level. For his new price tag, continued success in those areas could make his a steal.
Of course, there is still risk to the new pact for the Flyers. If Provorov does continue to improve, the team could risk losing him at the end of this contract. He will be an unrestricted free agent and, at 28 years old, it will be just in time for another long-term deal. Philly may have to pay up to keep the 2015 seventh overall pick with the team that drafted him. The flip side is that there is also a chance that Provorov has already reached the peak of his ability and, if so, this deal may not bring the value that the Flyers hope. Provorov still has several holes to his game, including struggles on the power play and matching up at even strength with tough competition. The team has to hope that he still has room to grow and learn over the course of the new deal to better reflect his new cap hit.
With both Provorov and Zach Werenski signed, the pressure is now on for Charlie McAvoy and the Boston Bruins to agree to a new deal, as he is the final big-name RFA defenseman available. McAvoy’s camp is likely ready to take the last best offer, after both comparable players signed team-friendly deals. McAvoy is a younger and more dynamic player than Provorov, but has more still to prove after struggling with injuries in his first two seasons. The young defenseman is a better fit for Werenski’s recent contract structure than the deal just signed by Provorov, but he and the Bruins now have to options to consider.
Winnipeg Jets Extend Josh Morrissey
The Winnipeg Jets have two restricted free agents to sign, but have inked one of their other young players a year before his deal even expires. The team announced an eight-year extension for Josh Morrissey, a contract that will carry an average annual value of $6.25MM. Morrissey will earn $3.15MM this season on his current deal. The full breakdown is as follows:
- 2020-21: $8.0MM
- 2021-22: $8.0MM
- 2022-23: $5.2MM
- 2023-24: $8.0MM
- 2024-25: $4.8MM
- 2025-26: $4.8MM
- 2026-27: $4.8MM
- 2027-28: $4.8MM
According to Ken Wiebe of The Athletic the deal will also include a full no-movement clause in years 3-5 and a limited no-trade clause in the final three. That kind of length and security is surprising in this market where other young players are instead looking to maximize their earning potential by taking short deals. Morrissey will be giving up six seasons of unrestricted free agency at a very reasonable price, considering his growth the last few years.
Selected 13th overall in 2013 it took a few years for Morrissey to put it all together, but when he did there was no looking back. Suiting up in all 82 games for the 2016-17 season as a rookie, he was seeing more than 20 minutes a night on a regular basis by the end of the year. That ice time has only increased since to the point where the left-handed defenseman averaged more than 22 minutes for the Jets last season. A true shutdown option for the team, his offensive game also exploded to the tune of 31 points in 59 games. That low game total was due to a shoulder injury and is disappointing, but if he can stay healthy there’s little doubt he won’t outproduce this contract and quickly.
Getting this contract locked in should only help the Jets in the negotiations with Patrik Laine and Kyle Connor, Knowing exactly what Morrissey will cost is an important piece of information for the team to have when setting a limit for how high they will reach. Laine and Connor will surely eat up the $15MM the team has available this season, but will also make next offseason a tightrope walk for GM Kevin Cheveldayoff.
Photo courtesy of USA Today Sports Images
Zach Werenski Signs With Columbus Blue Jackets
There will be no training camp holdout for Zach Werenski. The Columbus Blue Jackets defenseman has agreed to a three-year, $15MM contract. Werenski will still be a restricted free agent at the deal’s expiry, though will be arbitration eligible. Pierre LeBrun of The Athletic reports the breakdown:
- 2019-20: $4MM
- 2020-21: $4MM
- 2021-22: $7MM
The structure of the deal is an important thing to note, as the increased salary in year three guarantees Werenski will be given a qualifying offer of $7MM. Given that he’ll be just one year away from unrestricted free agency in the summer of 2022, it essentially makes the deal a four-year, $22MM deal ($5.5MM) if Werenski wanted. He’ll also be eligible for arbitration, where his previous salary will be taken into account.
To be sure, this deal represents a bargain for the Blue Jackets in the short term. Werenski has proven to be one of the most offensively-gifted young defensemen in the league over his three-year career, recording 38 goals and 128 points in 237 games. He has double-digit goals in each season and forms one of the best pairings in the NHL alongside Seth Jones. The fact that he is just 22 means there is room for improvement and likely even more excess value for the Blue Jackets over the next three years.
Unfortunately, that bargain will change dramatically at the end of the deal. Negotiating an extension with Werenski when he has the option of taking a $7MM payday and walking straight into unrestricted free agency will mean the Blue Jackets would have to offer a substantial increase, likely making him one of the highest-paid defensemen in the league. It also means that Werenski and Jones will both be negotiating extensions at the same time, though the latter is scheduled for unrestricted free agency in 2022 and should be getting a huge raise as soon as possible (which is July 1, 2021) if the Blue Jackets want to retain him.
Having both of their young defenders hitting free agency (of one kind or another) at the same time is obviously not ideal, but it also means that the team does have a sort of rebuild deadline if things aren’t going well over the next few seasons. The Blue Jackets actually have just three players signed through the 2022-23 season and just one—Cam Atkinson—for longer than that. While other teams are handing out long-term extensions to lock in their core for nearly a decade, Blue Jackets GM Jarmo Kekalainen seems prepared to re-evaluate every few seasons to make sure his club doesn’t get too far ahead of themselves.
Obviously for Werenski this is a strong contract, even if he did accept a little less money up front. He controls where he wants to spend his prime years and how he wants to approach negotiations down the line. The fact that it is done a few days before training camp will allow him to enjoy the full preparation for this season.
For the other restricted free agent defensemen, it also may provide a model contract. Charlie McAvoy and Ivan Provorov remain unsigned as camp approaches and are in similar situations. McAvoy is a year further from unrestricted free agency, but for both the idea may be the same; take a shorter-term deal that gets you close to UFA status and go from there.
Kevin Weekes of the NHL Network and Aaron Portzline of The Athletic reported the deal earlier this morning.
Photo courtesy of USA Today Sports Images
Jake Gardiner Signs With Carolina Hurricanes
The Carolina Hurricanes have added another talented defenseman to their ever-expanding depth chart, signing Jake Gardiner to a four-year contract. The deal carries an average annual value of just $4.05MM, quite a bit less than what many expected Gardiner to command this summer. PuckPedia provides the full breakdown of the deal:
- 2019-20: $3.65MM salary
- 2020-21: $3.90MM salary
- 2021-22: $4.20MM salary
- 2022-23: $4.45MM salary
The deal also includes a seven-team no-trade clause in all four seasons. Carolina GM Don Waddell released a short statement on the signing:
Jake is a solid veteran blueliner with a proven history of contributing offensively, including on the power play. He’s had options this summer, but ultimately decided that Carolina is his best fit, and we’re thrilled to have him here.
At first blush, this is an incredibly team-friendly deal for the Hurricanes. Gardiner came into the offseason as our highest ranked defenseman in the Top 50 UFA list, but after a late-season back injury and implying that he wanted to return to the Toronto Maple Leafs his market never seemed to develop. The $4.05MM cap hit is exactly the same as he has made over the last five years with Toronto, and could result in a real value for the Hurricanes. Chris Johnston of Sportsnet notes that the four-year term may have been the biggest selling point, as there “weren’t many multi-year offers” for Gardiner this summer.
The hesitance to give Gardiner term may be because of the cap as Johnston suggests, or because of the injury, but there’s good reason to like this deal from a Carolina standpoint. The team now boasts probably the deepest group of defensemen in the league, with Jaccob Slavin, Brett Pesce, Dougie Hamilton, Justin Faulk, Trevor van Riemsdyk, Gustav Forsling, Haydn Fleury, Jake Bean and now Gardiner all being capable NHL options. The team even signed Chase Priskie recently and also has Roland McKeown if injuries were to really pile up. That glut of defensemen will certainly lead to plenty of trade speculation, most notably around Faulk who has been involved in rumors for years.
Faulk and van Riemsdyk are both heading into their final years under contract before reaching unrestricted free agency, and could potentially be moved for an upgrade at forward now that Gardiner is in place to take on some minutes. Though they play opposite sides, Gardiner and Faulk have been compared for some time due to their playstyles as offensive puck-moving options. Both are known to turn the puck over at the most inopportune times, but can generally drive play at an excellent rate and run a powerplay. Gardiner has averaged at least 20 minutes of ice time in every season of his career to this point, and is just a year removed from a career-high 52-point season. The Minnesota native has amassed 245 points in 551 games, very similar to Faulk’s 258 in 559.
It’s not clear where exactly the Hurricanes will deploy the 29-year old Gardiner, but he comes in just ahead of Pesce in terms of salary and could very well take over for Calvin de Haan who was shipped out of town this offseason. de Haan logged more than 18 and a half minutes per game with the Hurricanes, a total that may allow Gardiner to be even more effective on a nightly basis.