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Vadim Shipachyov Retirement Official

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According to Steve Carp of the Las Vegas Review-Journal, Vadim Shipachyov’s deal with the NHL is official. After a negotiation between the NHL and NHLPA, Shipachyov will retire from the league and pay back almost all of his $2MM signing bonus. He’ll move to the voluntary retirement list and his full contract will be cleared from the Golden Knights salary cap. His NHL rights will be retained by Vegas until he turns 35, but will now be allowed to seek out a new contract in the KHL.

Vadim ShipachyovThe two sides didn’t seek a mutual termination, because Shipachyov would have first needed to pass through waivers and then could have technically been signed by another team in the league. Obviously, the Golden Knights didn’t want to lose the asset to another team for nothing, so a different agreement was made. Like Ilya Kovalchuk, Shipachyov’s retirement will keep him out of the NHL for at least five years though it’s more likely that he’ll never return. After three games and a single goal, the $9MM experiment is over. Interestingly, Vegas GM George McPhee admitted today that they did have a deal in place for Shipachyov to go somewhere else in the NHL, but the player didn’t want that. Shipachyov instead wished to just return to the KHL.

Whatever you think of how this situation was handled, at least Shipachyov can now return home to a league where he wants to play. He obviously didn’t want to suit up any longer in the AHL, and the Golden Knights clearly no longer had him in their top-6 plans up front. Incredibly though, he’ll actually go down with some impressive small-sample stats. Shipachyov scored just the lone goal, but attempted eight shots towards the net and actually won nine of 12 of the 21 draws he took. He’ll finish his three-game NHL career with positive possession stats and at 57% in the circle. Fans will be left wondering if that impact could have been carried out for the entire season, or if he wasn’t ever going to fit in perfectly with the North American game.

It wouldn’t be surprising to see him quickly sign with SKA St. Petersburg again, the team he helped to a Gagarin Cup victory last season. SKA is off to an incredible 28-1 record this season, led by Kovalchuk and Nikita Gusev with 36 points each. Gusev is a name Vegas fans should remember, as his NHL rights are also owned by the Golden Knights. They were acquired as part of the trade from Tampa Bay to get the Golden Knights to select Jason Garrison in the expansion draft, and will be a big story going forward. Gusev is just 25-years old, but has now watched his teammate and countryman go through a trying experience with the expansion team.

Gusev’s KHL contract isn’t up until April 2019, but there was some hope that he would terminate it early in order to jump to the NHL. A seventh-round pick because of the fear he would stay in Russia, Gusev is obviously talented enough to play in the NHL. Last season he scored 94 points in 75 games for SKA, and dominated the World Championships with 14 points in 10 games including a tournament-leading seven goals. You have to wonder how the Shipachyov situation will affect Gusev’s decision down the line.

Photo courtesy of USA Today Sports Images

Vadim Shipachyov Still Waiting On Paperwork

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We learned this weekend that the NHL and NHLPA have agreed on a resolution to the Vadim Shipachyov scenario, but still we haven’t been given anything official. According to Steve Carp of the Las Vegas Review-Journal, that’s because the two sides are still working on the paperwork to allow Shipachyov to “retire” from the NHL, with an official announcement not expected until Wednesday.

The deal will have Shipachyov pay back most of the $2MM signing bonus and leave the league, much like Ilya Kovalchuk did previously. His current contract will be voided, but the Golden Knights will retain his rights until he turns 35. That means, if he wants to make a comeback at some point he would need to sign a new deal with Vegas—which seems very unlikely after how this situation has played out.

It seems ever more likely that the one goal he scored this season will be the first and last he’ll ever tally in the NHL, a disappointing ending for a player who was expected to be one of faces of the league’s newest franchise. Now most of the intrigue surrounding Shipachyov will be whether he is selected to play for Russia in the Olympics, something he’s never done previously.

Latest On Vadim Shipachyov

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Saturday: The NHL and NHLPA have agreed on a solution that will allow Shipachyov to leave the Golden Knights and return to the KHL, Pierre LeBrun of TSN and The Athletic reports.  It’s expected that this will be finalized on Monday with Shipachyov filing voluntary retirement papers instead of going through the contract termination process.

Friday: The saga of Vadim Shipachyov still hasn’t come to any sort of conclusion, with the suspended forward back in Russia awaiting some sort of resolution in the fight over his contract. While he’s made his decision to leave the Golden Knights and their AHL team, Vegas has been looking for a guarantee that he won’t be claimed or re-sign with any other team in the league before they grant him a mutual termination.

Now, LeBrun reports on TSN’s Insider Trading that this is more than just a fight between Shipachyov and Vegas. Because Shipachyov would need to pay back almost all of his $2MM signing bonus—something that he’s apparently willing and able to do—the NHLPA is involved. The players’ union is “not big on players paying back bonuses” according to LeBrun, and don’t want to necessarily set a precedent like this.

None of this lends itself to the idea that Shipachyov will play in the NHL this season, but it certainly could take a little longer to get an official release. The 30-year old Russian center was a failure in Vegas, though he wasn’t given all that long of a leash in the first place. In just three games with the team, he scored one goal. Perhaps it will be the only one he’ll ever score as an NHL player.

Morning Notes: Jets, Karlsson, Horvat

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Elliotte Friedman of Sportsnet is hearing that there are incoming extensions for GM Kevin Cheveldayoff and head coach Paul Maurice, keeping the duo in Winnipeg for the next few years. The Jets came closer to the playoffs than many remember last year, finishing ninth in the Western Conference with 87 points. With a young group of forwards led by Mark Scheifele, Patrik Laine and Nikolaj Ehlers, the Jets will be a tough contender in the battle for the playoffs once again. With Steve Mason in net, perhaps they’ll finally get the goaltending required to take the next step.

In terms of Cheveldayoff, his biggest task in the near future could once again be Jacob Trouba. After a holdout last season that leaked into November and came with a trade demand, Trouba eventually signed a two-year $6MM contract with the Jets and went on to have an excellent season in an increased role. Trouba’s complaints were mostly about playing time and future, and it seems that he’s now passed Tyler Myers on the depth chart in Winnipeg. We’ll have to wait and see if that’s enough to get Trouba to sign a long-term deal next summer, or if the young defenseman again wants out of town.

  • Erik Karlsson hasn’t resumed skating according to Pierre LeBrun of The Athletic, and still isn’t sure if he’ll be ready for opening day. Karlsson underwent surgery on his foot and ankle in June and was given a four month timeline for recovery. Karlsson is part of the media tour for the NHL and NHLPA’s Declaration of Principals, which hope to help establish guidelines for inclusivity from minor hockey to the professional ranks. Dan Rosen of NHL.com has the entire Declaration, which apparently was the brainchild of Pat Lafontaine and Luc Robitaille after a trip to the Vatican. The announcement even included a letter from the Pope endorsing the program.
  • Bob McKenzie of TSN returned from his summer vacation to give us a bit of information on the ongoing Bo Horvat negotiations. He believes the two sides are closing in on a deal, and speculates it would be in the range of six or seven years at a salary between $5-6MM. We’ve heard that the Vancouver Canucks and Horvat have discussed everything from a bridge deal to an eight-year contract, with the latter seeming less likely. Horvat is one of several high profile free agents left to sign, but there never seemed to be much doubt that a contract would eventually be signed.

NHL Players Finally Paid For 2016 World Cup of Hockey

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Earlier this week TSN’s Rick Westhead reported that NHL players finally received their share of the 2016 World Cup of Hockey profits. The World Cup ended in September 2016, and while prize money was doled out on time, the profits only just became available to players. The delay in paying players was first raised by NHLPA Executive Director Don Fehr this summer during the NHLPA’s annual charity golf tournament.

The NHL and the NHLPA agreed to split profits 50/50. After calculating all costs and expenses, the partnership garnered $44MM USD in profits. The NHLPA was entitled to $22MM of those profits, and would divide them amongst the players. That is slightly above previous calculations made by the Hockey News in November 2016.

Westhead reports that players who participated in the World Cup received $86K USD (before taxes) while those who did not received $10k. According to Westhead, after taking into account taxes, some players netted less than $5K (non-participants) or less than $50K (participants). That essentially works out to a 70/30 split between participants and non-participants.

Morning Notes: Tavares, World Cup, Krushelnyski

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The New York Islanders continue to be the center of attention when it comes to 2018 free agency. As we creep closer to training camp and the start of the regular season, many are questioning why superstar center John Tavares hasn’t signed an extension yet. Tavares is set to become an unrestricted free agent next summer but doesn’t seem worried about the lack of a deal. He told Arthur Staple of Newsday that “there’s really no rush” and that he’d take as much time as he needs.

He did admit that he’s keeping an eye on the Islanders’ search for a new home, but that those things are out of his hands. It’s interesting that Tavares so publicly stated his attachment to the arena search, and will drum up a new round of speculation over whether he’ll leave if a permanent home isn’t found within the next 10 months. There’s obviously much more going into his decision, but the Islanders need to soon find some stability on and off the ice.

  • Rick Westhead of TSN reports on the financial take from last fall’s World Cup of Hockey, announcing that the NHL and NHLPA split a $44MM profit. Though that may sound like a big number, players who participated earned just $86K while others got $10K. Both of those numbers are pre-tax, meaning many of the players earned even less. $86K may seem like a lot to some, but for the top players who gave up much of their training camp and put themselves at risk of injury it doesn’t seem like enough. While both sides want this event to continue, it’ll likely take a bigger paycheck to have it run long-term.
  • Alex Krushelnyski is back in the AHL, after signing with the Lehigh Valley Phantoms today. The 26-year old played 43 games for the Binghamton Senators last year, recording just seven points. Krushelnyski has been an outstanding scoring threat in the ECHL but has had trouble finding his footing in the upper minor league. He’ll join the Philadelphia Flyers’ affiliate as they look to repeat their 48-23-5 season from a year ago.

The Signing Bonus: Rise Of The Buyout-Proof Contract (A Reprise)

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This article was originally published in July of 2016, but seems extremely relevant a year later. Most of the players discussed inside underachieved in their first season, and again we saw signing bonuses handed out like candy this summer. Included at the bottom is an update with new contracts from this offseason.

The life of an NHL agent is tough. As the league continues to tweak (or totally overhaul) their CBA each few seasons, changing contract regulations and offering teams different ways of structuring deals, agents are always trying to find ways to circumvent them and get the best offers for their clients.

With teams becoming more and more willing to use buyouts to rid themselves of the horrible contracts that they sign on July 1st – famously a day of simultaneous excitement and regret – agents around the league needed to find a way to protect their clients from losing out on a third (or sometimes two-thirds) of the salary the sides agreed on.

The most recent buyout window, which lasted from June 15th to 30th, saw a dozen NHL players bought out, including household names like Thomas Vanek and Dennis Seidenberg. While some fans may see this as an opportunity for a player to earn two contracts at the same time – Vanek was signed on by Detroit for $2.6MM on July 1st, more than the $1.5MM he surrendered in his buyout – most take it as a personal slight, an indictment of their play or character. Regardless, agents continue to try and secure guarantees for their clients, instead of leaving the power in the hands of the league’s general managers.

"<strongEnter the signing bonus, this summer’s contract-du-jour. All across the league, big name free agents have inked deals that will see them paid almost entirely in signing bonuses, with very little actual salary being given out each season.  Take Loui Eriksson for instance:

2016-17 – Salary: $1MM, Bonus: $7MM
2017-18 – Salary: $1MM, Bonus: $7MM
2018-19 – Salary: $1MM, Bonus: $6MM
2019-20 – Salary: $1MM, Bonus: $4MM
2020-21 – Salary: $1MM, Bonus: $3MM
2021-22 – Salary: $3MM, Bonus: $1MM

While Eriksson’s cap-hit sits at $6MM per year, he’ll make more than that in bonuses alone each of the next three seasons. There are a couple of reasons why this would benefit the player.

For one, everyone loves getting a big check rather than a weekly salary – who would turn down a piece of paper with six zeros?  As any economist will tell you, money in hand is worth more than money promised to come, and just as teams in other sports are deferring payments for this reason long into the future, having money up front is actually more valuable for the player in question.

It’s in the buyout rules that the contract really holds value though, as – hinted at by the title – these contracts are basically buyout-proof.  Under the current CBA, buyouts are calculated by taking two-thirds of the remaining salary owed, not including signing bonuses, and spreading it out over twice the remaining contract length. The new cap hit is determined by subtracting the savings from the average annual value of the deal which includes signing bonuses.

This means that if the Canucks were to want to buy out Eriksson after say, the third year of his new deal, they’ll only be saving $333K of cap hit in 2020-21, an insignificant portion of the $6MM number. That last season of $3MM is a bit better for the Canucks (they would save $2MM of his cap hit), but structuring it this way almost guarantees that Eriksson will collect at least $35MM of his deal – more than 97%. It’s just not worth it to buy him out any sooner than his final year.

"<strongAndrew Ladd, Milan Lucic, Kyle Okposo all signed deals heavily impacted by signing bonuses, protecting them against a buyout through all but the very end of their agreements.  Even Matt Martin, a career fourth liner secured a $10MM deal that is 65% bonus.  He’ll only be collecting $750K in salary in years three and four of the deal.

While this doesn’t necessarily mean trouble for clubs around the league, you can bet the owners and NHLPA will take a look at it when negotiations begin on the new CBA.  The current agreement expires in 2022, though the two sides have the option to end it a year earlier.

Just as the league has used cap recapture and contract limits to close loopholes in the past, be sure that if they want to continue to have the option to buyout bad contracts they’ll remove this option from the equation.  Creating a rule that would make signing bonuses only be able to hit a certain percentage of each season’s salary would be the easy fix, but expect push-back from the NHLPA.

Even if they do end up closing it, agents will work on another way to get their clients the best possible guarantee; they always seem to be one step ahead of the league.

This summer, signing bonuses have taken off even further. Carey Price’s eight-year extension with the Montreal Canadiens is over 80% signing bonuses, with the goaltender making a maximum of $2MM in salary per year. A $10.5MM cap hit through age-38 will be impossible to buy out, offering almost no cap savings. The Blackhawks face a similar situation with Brent Seabrook, whose 2015 contract is looking worse and worse, and provides little incentive for a buyout.

Interestingly, the Nashville Predators have continued in their practice of avoiding signing bonuses altogether. After signing Filip Forsberg to a bonus-free deal last summer, both Ryan Johansen and Viktor Arvidsson have taken similar structures in their long-term extensions this year. GM David Poile has taken much of the risk off the table even as he allocated many of his resources to his trio of young forwards. Though they pose little risk of age-decline, all three carry large enough cap hits to really hurt the Predators if they were to take a step backwards in their development. It’s hard to see any deserving a buyout, but the option is still there.

Alexander Radulov may be the biggest example among 2017 unrestricted free agents, as his contract with the Dallas Stars is both front-loaded and filled with signing bonuses. Radulov will earn just $13.25MM in salary over the next five seasons, making it difficult to buy out even as he enters his mid-thirties. For a player who has a relatively short track record of success in the NHL, it may quickly turn into a problem if he starts to feel the draw of father time.

Donald Fehr Addresses Salary Caps, Contracts, And More

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NHLPA Executive Director Donald Fehr spoke to media during the NHLPA’s annual charity golf tournament this week. Fehr answered numerous questions regarding the salary cap, player contracts, and the Olympics.

At the outset, Fehr reiterates that the PA is against any form of salary cap, and that its presence hinders player salary growth. Fehr points out that Major League Baseball continues to function successfully without any salary limitations.

Fehr then addressed how the NHLPA deals with players potentially leaving money on the negotiating table. This question stems from the rumor that Connor McDavid walked back a $13.25MM AAV contract to one that pays him $12.5MM AAV. Fehr states that money is just one factor in contract negotiations, and the top-dollar amount is not always the main concern.

Regarding the Olympics, Fehr tells reporters that national pride drives players to play in international events, but did not expand on the PA’s position regarding player participation next season. Fehr did admit that the PA wants a series of international events just like the NHL. In the same international play vein, Fehr also admits that players have not been fully paid for the World Cup of Hockey. Prize money and stipends were handed out, but the rest of the revenue required complete accounting before distributing the players’ share.

Finally, Fehr addresses the revenue and salary gap between the NHL and NBA. The NHL, says Fehr, used to be only 20% behind the NBA in revenue numbers, but now lags behind significantly. As for player salaries, Fehr acknowledges that individual NBA players can affect the game more than an individual NHL player.

 

RFAs Headed For Payday In Arbitration

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As the list of the players who have filed for arbitration was released earlier today by the NHLPA, a few names stick out as those due a meaningful raise. Arbitration is a tricky process to reliably predict, but it’s a safe bet these names will see their cap hit rise substantially.

 

Brian Dumoulin – D – Pittsburgh Penguins

There was a time when the young Dumoulin was a well-kept secret in the league, overshadowed by the far flashier play of Kris Letang. Dumoulin’s accolades this last playoff year certainly didn’t go unnoticed, and as the lone defensive defenseman in their core group, he probably holds the greatest job security on the team’s blueline. He doesn’t put up points – only one goal in the last two seasons, but he blocks shots and drives possession while eating a ton of minutes against top competition. As analytics are utilized more and more, his case only gets stronger. A contract well over $4 MM is certainly looking possible.

Colton Parayko – D – St. Louis Blues

This is the name seen most commonly associated with offer-sheets this summer, and with good reason. Parayko plays with the mentality of an old-time defenseman, but he can skate quite well for a large (6’6) man. He’s only had two seasons in the NHL, but he’s impressed since he first took the ice. Again, he isn’t a massive offensive force (he scored 3 goals last season), but he’s already averaging over 21 minutes a night with near equal starts in both the offensive and defensive zone. He’ll be hurt by the quantifiable stats factor, but he’s a big body with a rare right-handed shot to boot. This contract could look relatively cheap compared to his next, if he continues along this course. He should cost around $5.5 MM.

Ondrej Palat – F – Tampa Bay Lightning

Others will look to the undersized center Tyler Johnson as most likely to get a payday. But don’t over look Palat’s consistency – it may give him an edge with arbiters. Johnson does have his 72 point campaign to lean on, but that was now two full seasons ago. The fact that both players couldn’t break 20 goals in the last two seasons will bring their prices back down to Earth. Palat has grown into his role on the team and back-checks with a ferocity not often seen in younger stars. Johnson is no slouch either – they’ve both accumulated Selke votes over the years. These are two pivotal pieces of the Lightning, and their upcoming contracts were a big reason Jonathan Drouin was traded away to Montreal. GM Steve Yzerman will happily lock both up, but he will be hoping for figures under the $6 MM mark.

Viktor Arvidsson – F – Nashville Predators

This would have been an unlikely name on such a list even last December, when you consider how truly meteoric Arvidsson’s rise was. His value in arbitration will be deeply interesting – the shifty winger has played himself into the core of the team within a season. He really only has 2016-17 and the long playoff run to hang his hat on, as he scored only 16 points through 56 games in 2015-16. This year was a remarkable offensive explosion, with 30 goals and 31 assists. At only 5’9, Arvidsson has really shocked many onlookers by how easily he’s adapted to the physicality of the NHL game. His talent has never been in question, and with his production now well-established, it’s safe to believe he’s going to get a cushy award. How bad the damage will be is going to affect Nashville’s cap going forward – I suspect over $5 MM, but there are few comparables.

Mikael Granlund – F – Minnesota Wild

Granlund is perhaps slightly more enticing league wide than fellow Wild RFA Nino Niederreiter. He’s a marginally more cerebral player, and he plays the valuable center position. Neiderreiter is the more natural goal-scorer and larger frame, but Granlund has better PPG and has broken 30 assists thrice. Both players will get paid, as they both broke 25 goals last season and will be important pieces in the State of Hockey for some time. I think the more interesting thing to watch here is whether the Wild play it safe with Granlund and take a one year deal, or attempt to lock him up for longer. This was the first season he really scored with any consistency, but the Wild have shown their faith in the player by continually giving him over 17 minutes of icetime even when he struggled to produce. A one-year would easily command over $5 MM, whereas a longer deal could bring cost down.

 

Snapshots: Top-93, Healy, Vegas Deals

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TSN has released their final ranking for the 2017 Entry Draft, and Nico Hischier has finally overtaken Nolan Patrick at the very top. Bob McKenzie who compiles the list based on a survey of 10 working scouts, writes that Patrick now only received four votes for the top spot, with Cale Makar even getting a single #1 vote.

That’s a much different ranking than earlier in the season when Patrick was the unanimous selection, and shows the volatility this year’s draft board. Even at #1 there is no consensus, and there are dozens of players who could go in the top-10. With such different boards around the league, there may be quite a bit of movement in the first round as teams target who they want.

  • Former NHL goaltender Glenn Healy has been named Executive Director of the NHL Alumni Association. Healy has worked with the NHLPA in the past and had been working as the interim Director for the NHLAA. He’ll lose the interim tag now and got a ringing endorsement from Wayne Gretzky himself, saying that Healy “is the right guy to lead us into the future.”
  • Scott Cullen of TSN believes there is at least seven side deals completed with Vegas in order to protect extra players or have a particular player selected. That would explain some of the interesting choices in yesterday’s protection list reveal, such as Minnesota and Anaheim leaving top flight defenders available. The Islanders, Penguins, Blackhawks, and Blue Jackets are also expected to have deals already in place, though nothing will be official until the expansion selections come out on Wednesday night.

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