Brett Connolly, Henrik Borgstrom Clear Unconditional Waivers
July 12: Both players have cleared waivers and will be bought out today, making them unrestricted free agents.
July 11: The Chicago Blackhawks have started the buyout process for two players, placing Henrik Borgstrom and Brett Connolly on unconditional waivers today. Because he is under the age of 25, the team will only be on the hook for one-third of Borgstrom’s remaining salary. As a result, they will receive the following cap penalties moving forward:
- 2022-23: $1,166,667 (Connolly) + $83,334 (Borgstrom)
- 2023-24: $1,166,667 (Connolly) + $183,334 (Borgstrom)
The two forwards actually arrived in Chicago the same way, through a trade with the Florida Panthers in 2021 that saw Lucas Wallmark and Lucas Carlsson go the other way. While Riley Stillman remains from that deal, it was Borgstrom that was considered a big part of the return, having been a first-round pick by the Panthers in 2016.
After just 52 games with Chicago he’ll hit the market as an unrestricted free agent, an interesting addition just before things open up on Wednesday. While he has just 26 points in 110 games, Borgstrom is still just 24 (he’ll turn 25 next month) and possesses an interesting skill/size mix that could intrigue some teams.
Connolly meanwhile has a much longer track record at the NHL level but not a very good one the last few years. He scored 19 goals and 33 points in 2019-20 but then was an absolute ghost during the 2020-21 season, registering just six points in 31 total games. This season, he spent most of the year at the minor league level with the Rockford IceHogs and although he performed well there, it’s not much of a platform for a free agent deal.
These buyouts continue general manager Kyle Davidson’s rapid house cleaning, and represent another head-scratching move for the young executive. Borgstrom’s contract, which had just one year left on it and carried a cap hit of $1MM, could have been buried entirely in the minor leagues. This buyout will save them around $733K in actual dollars, but now actually has a slightly negative effect on the cap situation.
In fact, it wouldn’t be entirely unreasonable to see a team claim Borgstrom before the buyout can be finalized tomorrow, given how little risk would be involved.
Philadelphia Flyers To Buy Out Oskar Lindblom
The Philadelphia Flyers have placed Oskar Lindblom on unconditional waivers for the purpose of a buyout, which will clear a considerable amount of cap off the books for next season. Lindblom’s deal has one year left on it at a cap hit of $3MM, but because of his age, they are only required to pay out one-third of the remaining salary.
That will result in a cap credit of $333,333 for the 2022-23 season, and a cap penalty of $666,667 for 2023-24. The team has also announced that in recognition of Lindblom, they will be making a $100,000 donation to a local organization that supports families impacted by cancer. General manager Chuck Fletcher released a statement:
This was a very difficult decision to make and one that we spent a lot of time examining. No one can question the desire, will and strength to overcome all that Oskar has been through off the ice in order to return to the game he loves. Further, Oskar’s commitment to his teammates and impact in our room has been immeasurable. He is truly an inspiration to us all and he will always remain a special part of the Philadelphia Flyers family. We wish him all the best as he continues his NHL career.
This move will essentially clear $3.33MM for the Flyers as they prepare for free agency tomorrow, with rumors also swirling about the future of James van Riemsdyk and his $7MM cap hit. The team has made very clear that they have no intention of rebuilding, making them potential players in several big names tomorrow.
For Lindblom, there is little doubt that another NHL team will give him a chance. After making his way back from a cancer diagnosis, he hasn’t quite reached the level he showed in the early part of his career but still contributed 12 goals and 26 points this season. The 25-year-old is a talented goal-scorer and has already overachieved his fifth-round draft position.
Importantly, if a team were to sign him to a one-year deal, Lindblom would once again be a restricted free agent at its conclusion, meaning any interested club could potentially land some important control for a relative bargain.
Duncan Keith Announces Retirement
The Edmonton Oilers have cleared even more cap space. Duncan Keith has decided to retire, which will not only open cap space for the Oilers but also means a significant cap recapture penalty for the Chicago Blackhawks:
- 2022-23: $5.54MM
- 2023-24: $1.94MM
Cap recapture is a function of the CBA that penalizes teams for previously signing extremely front-loaded contracts. When Keith signed his 13-year, $72MM deal in 2009, the last few years included a very low salary in order to drop the overall average.
For instance, he would have only earned $1.5MM this season in actual salary. The Blackhawks then must repay the savings they received in the early part of the contract–Keith was earning $8MM per season at the start of the deal while carrying a cap hit of just $5.54MM.
On the other end of that coin, the Oilers should actually receive a cap credit, as they paid the elevated cap hit this season despite Keith only making $2.1MM. Unfortunately, that credit is apparently being removed by the NHL–though a grievance process is possible through the NHLPA. For now, they will only receive the benefit of clearing the $5.54MM cap hit off the books for 2022-23.
While the cap implications will cloud Keith’s retirement, nothing should overshadow the fact that one of the best players of his generation is calling it quits.
The 38-year-old played 1,256 regular season games, 151 playoff contests, and won three Stanley Cups with the Chicago Blackhawks. An elite two-way player, Keith racked up offensive numbers while also playing a quiet, effective defensive game.
During his 16 years with Chicago, he averaged nearly 25 minutes a night, won the Norris Trophy twice and the Conn Smythe in 2015. He sits 34th all-time in points from a defenseman, and 26th in games played.
When he is eligible, Keith will have a great case for Hall of Fame induction, as a player who was legitimately at (or at least near) the top of his position for a long stretch in his prime.
Photo courtesy of USA Today Sports Images
Tampa Bay Lightning Hire Jeff Blashill
In what has basically become a coaching trade, Jeff Blashill will join the Tampa Bay Lightning as an assistant for next season. He takes the spot of Derek Lalonde, who was hired to replace him with the Detroit Red Wings this summer.
It will be something of a surprise to see Blashill back as an assistant, given how long he’s been the head man in one place or another. You have to go back to 2011-12 to find the last time he wasn’t running a bench, his first year in the NHL. Since then, he took over the head coaching duties with the Grand Rapids Griffins for three years (where he won a championship) and then was the head coach of the Red Wings for the last seven seasons.
Even before he came to the NHL he was the head coach at the USHL and NCAA levels, meaning assisting isn’t something Blashill is very familiar with.
As Joe Smith of The Athletic has profiled in the past, Blashill and Lightning head coach Jon Cooper have a strong relationship, so this move doesn’t come as much of a surprise. Still, it will be interesting to see what kind of effect it has on the Lightning, and how long Blashill is on the sidelines before pursuing another head coaching opportunity.
New Jersey Devils To Buy Out Janne Kuokkanen
Though the buyout period is listed as ending today, it is a little misleading. Today is the deadline to place players on waivers for the purpose of a buyout, meaning there could be another flood of names hitting the open market in a few hours. One of those is expected to be Janne Kuokkanen, according to PuckPedia, who will be bought out by the New Jersey Devils.
Because he is still just 24, the Devils would be on the hook for just one-third of Kuokkanen’s remaining contract, and would incur the following cap penalties:
- 2022-23: $200K
- 2023-24: $325K
Since he is currently carrying a cap hit of $1.825MM and is owed $2.05MM in salary the buyout represents considerable savings in both dollars and salary cap space this season. With the team hoping to contend for the playoffs, that money can be better used after the disappointing 2021-22 campaign that Kuokkanen endured.
With just six goals and 17 points in 57 games, the young forward didn’t take the expected step forward and now finds himself without a home for next season. Originally selected in the second round by the Carolina Hurricanes, there is enough talent to play at the NHL level, just not enough (so far) to make much of an impact.
Bottom-of-the-lineup forwards are getting squeezed all over the league this year as the hard cap continues to make it difficult to pay more than the minimum for fringe roster players, and Kuokkanen will join the rest of those unqualified yesterday as late entrants to the free agent market.
New York Rangers Re-Sign Libor Hajek
July 12: The Rangers have made it official, signing Hajek to a one-year contract.
July 11: The New York Rangers will bring back a familiar face to add to their depth in that of Libor Hajek. Per CapFriendly, the Rangers have re-signed Hajek, a pending RFA, to a one-year, one-way deal worth $800K (link). The contract will buy out a year of arbitration eligibility for Hajek and will leave him still an RFA after the upcoming season. Originally a second-round pick of the Tampa Bay Lightning in 2016, Hajek came to the Rangers in the blockbuster that sent Ryan McDonagh and J.T. Miller down to Tampa.
With the development of several quality blueline prospects in the Rangers organization, Hajek found himself without much playing time this season, getting into just five AHL games and 17 NHL games in 2021-22. When the defenseman did play in the NHL, things didn’t go so well either, producing just one assist and registering a minus-10 rating, the worst of his career, despite playing in as many as 44 games in previous seasons.
In reality, the defenseman has not been a bad player for the Rangers, but has fallen victim to the team’s development of defensemen like K’Andre Miller, Braden Schneider, and Zachary Jones and acquisitions of Justin Braun and Patrik Nemeth. On a one-way contract with the Rangers, who figure to be hard-pressed against the NHL salary cap, making it difficult to retain Braun and perhaps necessitating a trade of Nemeth, Hajek could figure to see more time in the lineup, representing an affordable piece that has proven he is able to play minutes at the next level.
Minor Transactions: McIntyre, Huntington, Dronov
While the Colorado Avalanche and Pittsburgh Penguins were handing out long-term extensions to Valeri Nichushkin and Rickard Rakell respectively, and as the Toronto Maple Leafs acquired their next starting goalie in Matt Murray, a few bits of business were still getting done around the league, with a pair of minor leaguers getting contract extensions, and the Coyotes extending an invite to training camp.
The first of these is the Minnesota Wild extending goaltender Zane McIntyre with a one-year, two-way contract extension to stay in the organization according to CapFriendly. The contract is worth $750K at the NHL level and $300K at the minor league level, but does guarantee the goaltender a minimum of $325K. McIntyre appeared in eight games with the Boston Bruins back in 2016-17, but has otherwise made a solid career in the AHL, most recently splitting the 2021-22 season between the Tucson Roadrunners and the Iowa Wild.
- Shortly thereafter, the Nashville Predators extended forward Jimmy Huntington on a one-year, two-way contract worth $750K at the NHL level and $80K in the minors, leaving him an RFA at the conclusion of the deal, per CapFriendly. Huntington spent five years in the QMJHL, finishing his career with an incredible 92 point season with the Rimouski Oceanic in 2018-19 before turning pro, spending parts of the previous three seasons between the ECHL and AHL. The undrafted forward spent 2021-22 with the Syracuse Crunch and Milwaukee Admirals, putting up 13 goals and 22 assists in 61 games combined.
- The Arizona Coyotes have made a move to continue looking at depth options, extending a professional tryout to defenseman Grigori Dronov, according to CapFriendly. An undrafted free agent, Dronov has spent his professional career as a member of Magnitogorsk Metallurg in the KHL, featuring as a steady defenseman, though not much of a point producer. Dronov also appeared as a member of team Russia at the 2017 World Junior Championships, where he had one point in seven games.
Snapshots: Burns, Gaudreau, Lemieux, PHF, Struble
As the San Jose Sharks look to turn a corner with the franchise, not necessarily declaring a rebuild, rumors surrounding superstar defensemen Brent Burns and Erik Karlsson have turned up in recent months, with some speculating the Sharks could try to deal one of them. That speculation didn’t seem too off-base, but with the Sharks without a GM for the first time in nearly 20 years and still searching, it was unclear if the team would want to make that sort of franchise-altering trade before making the hire, and if the new hire would want to do such a thing as well.
Ryan Kennedy of The Hockey News had a chance to speak to the new man in charge in that of Sharks GM Mike Grier, who touched on Burns’ future in San Jose. Grier said that he would speak with Burns soon and let him lead the way on whether or not he wanted to be dealt, understanding if the former Norris winner wanted to win now, but adding that he had been a “great Shark.” Burns, who has a modified no-trade clause, does in effect lead the way already in this situation, but Grier’s comments show that San Jose is ready to proceed in either direction with the 37-year-old, depending on how their conversation turns out. The defenseman has three more years at $8MM per season left on his contract.
- If and when superstar free agent Johnny Gaudreau hits the free agent market on Wednesday, he will be one of the most sought-after players to ever go to free agency, with no shortage of suitors. One of those suitors, David Pagnotta of The Fourth Period reports, will be the New York Islanders, who he believes will “competitively” pursue the winger. It’s no secret that the Islanders have been looking for offense and a dynamic winger to play with Mathew Barzal, especially after missing the playoffs following back-to-back trips to the Conference Finals. Bringing in a player like Gaudreau would solve many of those problems of course, but having just under $11.2MM in salary cap space while needing to sign RFA defensemen Noah Dobson and Alexander Romanov, a Gaudreau signing would necessitate another move to shed salary on the Island.
- Although he was non-tendered by the Los Angeles Kings, forward Brendan Lemieux may still re-sign with the team after all is said and done, reports TSN’s Chris Johnston, with contract talks still ongoing. This news isn’t too shocking, as the gritty winger has played well for the Kings since being acquired from the New York Rangers during the 2020-21 season, but coming with a qualifying offer of $1.65MM, Los Angeles may have opted to try and re-sign Lemieux at a lower rate, not taking the chance of him accepting a salary they may view as too high.
- Erin Brown of The Hockey News reports that the PHF will announce its 2022-23 expansion plans on Tuesday morning. One of the premier women’s hockey leagues in North America, the PHF currently consists of five teams, including the Buffalo Beauts, Boston Pride, Metropolitan Riveters, Connecticut Whale, and Minnesota Whitecaps.
- The Montreal Canadiens announced that defense prospect Jayden Struble suffered a lower-body injury today and would miss the remainder of development camp. The Canadiens’ second-round pick, 46th overall, in the 2019 NHL Entry Draft, just finished his third season at Northeastern University, where he put up three goals and 11 assists in 34 games from the backend. The defenseman has just one more year before he will become a UFA if he does not sign with Montreal.
Pittsburgh Penguins Expected To Re-Sign Rickard Rakell
As The Daily Faceoff’s Frank Seravalli reports, the Pittsburgh Penguins appear to be keeping their trade deadline acquisition around a while longer, re-signing forward Rickard Rakell. Mike DeFabo of the Pittsburgh Post-Gazette adds that the contract is expected to be for six years at $5MM per season. Pittsburgh had acquired Rakell at the trade deadline from the Anaheim Ducks in exchange for a 2022 second-round pick, forwards Zach Aston-Reese and Dominik Simon, and goaltender Calle Clang.
Rakell’s extension at this rate is an interesting one, the winger having recorded as many as 34 goals and 69 points in 77 games in 2017-18, but has not come close to either of those marks since. This season, Rakell scored 20 goals to go along with 21 assists in 70 games, four goals and 13 points of which came as a member of the Penguins in 19 games after the trade. Dealing with injury, Rakell played in just two of Pittsburgh’s seven postseason games. If the forward can get back to the player he was from 2016-2018 and be a reliable 30 goal scorer, then the contract should pose great value for the Penguins.
After carrying a $3.79MM cap hit, the extension brings Rakell up to $5MM, leaving Pittsburgh with just over $10.3MM in available salary cap space, without factoring in a new contract for RFA forward Kasperi Kapanen. The deal does not necessarily foreclose the possibility for re-signing superstar Evgeni Malkin, however the earlier news that Malkin would test free agency does put his future in the steel city squarely in doubt. Still, without Malkin, the remaining space would allow the team to pursue an extension with Evan Rodrigues, who is also slated to hit the open market on Wednesday afternoon and potentially even pursue a few extra additions to round out the roster.
Latest On David Perron
Several veterans in this year’s UFA class appeared as though they wouldn’t be going anywhere, and one of those names was that of St. Louis Blues winger David Perron. Back in late May, Perron had expressed his interest in returning to the Blues, who are not the only team he has ever played for, but they are the only team he has ever signed a contract with. Conversely, around the same time, Blues’ GM Doug Armstrong made it clear that he wanted to bring Perron back. A reunion between the two sides made perfect sense, Perron being a perennial offensive weapon for the Blues since the start of his career, though mixing in stints with the Edmonton Oilers, Pittsburgh Penguins, Anaheim Ducks, and Vegas Golden Knights.
Now, just about a day-and-a-half from the opening of free agency, The Daily Faceoff’s Frank Seravalli reports that Perron is expected to hit the open market on Wednesday, making it unlikely he will return to the Blues. Seravalli adds that cordial talks have been ongoing between team and player, but the team simply does not have the necessary salary cap space to make an appropriate offer to Perron. The news is tough for the Blues, and presumably Perron, who were hoping to continue the relationship, but the realities of a flat salary cap have taken hold. The Blues currently have $9MM in available salary cap space, but do have to re-sign several RFAs and may look to retain pending UFA Nick Leddy. Even if this offseason was no problem, chances are Perron will command a multi-year contract, and St. Louis also has four star forwards with expiring contracts next offseason: UFAs Vladimir Tarasenko and Ryan O’Reilly and RFAs Robert Thomas and Jordan Kyrou, amongst others.
One positive to take from the update on Perron is the amicable nature of ongoing discussions, with the impasse being St. Louis’ cap situation rendering them unable to make what would constitute a reasonable offer. In other words, the desire for a new contract is apparently still there between both sides. It would be highly unlikely that the Blues can shed the necessary cap to make that offer to Perron by Wednesday afternoon, however Perron does have the option to take a wait-and-see approach on his free agency. While that option could be risky for Perron, if he does do so and the Blues cannot do what’s needed to offer him a contract, the veteran could serve as an option for a team who sought to spend on another top-notch option like a Johnny Gaudreau, Evgeni Malkin, or Claude Giroux, but missed out.
Some may wonder, with Perron coming off of a four-year, $16MM pact, and the Blues having $9MM in salary cap space, what would, absent Tarasenko, O’Reilly, Thomas, and Kyrou’s contracts next year, stop St. Louis from bringing Perron back, especially on a one-year deal? Although it is technically possible, Perron is coming off a rather team-friendly deal that allowed him to return to St. Louis, signing at the $4MM AAV after posting 66 points in 70 games for Vegas the season before. Since then, Perron has continued his performance, even stepping up his game, scoring 94 goals to go along with 127 assists in 251 games over the life of the contract, including a 2020-21 that featured 58 points in 56 games. At 34 years of age, producing as well as he ever has, Perron could be due a fairly long-term deal and would be unlikely to settle at such a team-friendly rate once again.