Pittsburgh Penguins Extend Kris Letang
The Pittsburgh Penguins will almost certainly be the only team Kris Letang ever plays for. The team announced a six-year, $36.6MM contract extension for the star defenseman, keeping him away from unrestricted free agency and likely taking him through retirement. General manager Ron Hextall released the following statement:
Kris epitomizes what it means to be a Pittsburgh Penguin. The role he plays on our team is irreplaceable, he is a leader in our locker room, and has made countless contributions to the organization over the last 15-plus years, which includes three Stanley Cup Championships. We are thrilled to make him a Penguin for life.
Letang, 35, will now carry a $6.1MM cap hit through the 2027-28 season, keeping him the Penguins’ highest-paid defenseman. Still, that number is much lower on a per-year basis than what he could have landed on the open market, or even than the $7.25MM he has carried for each of the last eight years.
The risk is obviously that Letang is already in his mid-thirties and could at any point, see a drastic decline in his performance. That hasn’t happened yet, as he actually set a career-high with 68 points this season, finishing seventh in Norris Trophy voting. For his career, Letang now has 650 points in 941 games, meaning he’ll reach the 1,000-game mark (and potentially the 700-point mark) if he stays healthy for the upcoming campaign.
Perhaps more importantly, this deal will not qualify for the lessened 35+ contract restrictions that were added in the 2020 CBA update. Pierre LeBrun of The Athletic reports the salary breakdown will be as follows:
- 2022-23: $8.0MM
- 2023-24: $8.0MM
- 2024-25: $6.2MM
- 2025-26: $4.8MM
- 2026-27: $4.8MM
- 2027-28: $4.8MM
That front-loaded nature means that the full cap hit will be applied to the Penguins even if Letang retires before finishing the deal. While it gives the team some added flexibility in the coming years, it could very well be an anchor down the road.
The argument of course for the Penguins is that by then, Sidney Crosby will not be as effective (if he’s even still playing) and the team will no longer be trying to compete for the Stanley Cup. At that point, it doesn’t really matter if there is a large cap charge for a declining Letang, while the team goes through the inevitable stage of rebuilding. For now, this gives them the best chance at contending in 2022-23, the focus for Hextall and the new ownership group.
Teams Debating Jake Oettinger Offer Sheet
For years, there was talk of offer sheets without any actual action. That’s changed recently, with the competing offers between the Montreal Canadiens and Carolina Hurricanes for Sebastian Aho and Jesperi Kotkaniemi. Now, when offer sheets are brought up, they at least can’t be dismissed entirely.
That’s why this morning’s report from Pierre LeBrun of The Athletic that teams around the league are debating the merits of a Jake Oettinger offer sheet is so intriguing. The young goaltender showed this postseason that he is ready to step into the limelight as a star, posting a .954 save percentage in seven games, almost dragging the Stars past the Calgary Flames in the first round by himself.
With Jason Robertson also a restricted free agent and a few other spots to fill, the Stars have a limited amount of cap flexibility to work with, which could make an Oettinger offer sheet more appealing for some teams. It doesn’t make much sense to sign a player to one without real hope that it might not be matched.
That can draw the ire of opposing managers who are trying to keep contracts low with their young RFAs. In fact, that’s what happened in the Aho situation, with the Hurricanes quickly matching only to retaliate down the road.
So if you’re going after Oettinger, it’s going to have to be a deal that the Stars will have trouble matching, or at least reach the level of compensation to make them hesitate.
The compensation thresholds this year are:
| $1,386,490 or less | No compensation |
| $1,386,491 to $2,100,472 | Third-round pick |
| $2,100,473 to $4,201,488 | Second-round pick |
| $4,201,489 to $6,302,230 | First and third-round picks |
| $6,302,231 to $8,402,975 | First, second and third-round picks |
| $8,402,976 to $10,503,720 | Two firsts, a second and third-round picks |
| Over $10,503,721 | Four first-round picks |
Check here for a more detailed explanation.
Coming off his entry-level deal and not eligible for arbitration, the Stars could normally keep the netminder’s contract relatively low, especially with a short-term bridge deal. An offer sheet then becomes basically the only leverage that Oettinger’s camp has, meaning these whispers could just be a negotiating tactic.
Remember, teams must use their own draft picks for compensation, not selections that have been acquired from other clubs. It also can’t happen until he actually reaches RFA status on July 13.
Ottawa Senators Expected To Push For Claude Giroux
With the Florida Panthers still hoping to try and re-sign him and several other teams waiting for their chance, Claude Giroux is a wanted man. One team that most might not have expected is the usually tight-budgeted Ottawa Senators, who have emerged as a “legitimate option” for the veteran forward according to Pierre LeBrun of The Athletic.
Not expected, until one is reminded that Giroux grew up and played his minor hockey in the area, and still has strong ties to Ottawa. The 34-year-old would be a huge splash for an organization that is trying to claw its way out of the rebuilding stage and contend for a playoff spot once again.
After buying out Colin White, the team has plenty of money and cap space to go after someone like Giroux, and could offer him a chance to play with young talents like Brady Tkachuk or Tim Stutzle. The veteran forward has played mostly wing the last few years but also has tons of experience in the middle, meaning he and Stutzle–just learning the center position himself–could share responsibilities, as right and left-handed options on the same line.
They won’t be the only team after Giroux though. He still put up 65 points in 75 games this season, including an outstanding 23-point run with the Florida Panthers after a midseason trade. There’s enough skill there to be a difference-maker for the Senators or any team at both even-strength and on the powerplay, even if he’s not going to be the 100-point player he was in his prime.
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Ottawa Senators Sign Dillon Heatherington
The Ottawa Senators have completed a bit of work on draft day, signing Dillon Heatherington to a two-year, two-way extension. The deal will carry an average annual value of $762.5K, paying him $750K at the NHL level in 2022-23, and $775K in 2023-24. The contract also includes minor league salaries of $325K in both years.
Senators general manager Pierre Dorion released the following statement:
Dillon’s leadership this season was key to helping our defensive prospects in Belleville grow as players. He was a player we quickly identified that would be key to Belleville’s success moving forward. He filled in capably for us in Ottawa last year and showed us he has the smarts and high hockey IQ necessary to be an NHL defenceman.
Heatherington, 27, has just 20 games of NHL experience under his belt and would have been an unrestricted free agent in a few days. Instead, he’ll stick around in Belleville, where he racked up 13 points in 45 games this season. While he may also get a handful of games with the NHL club, there are a number of players ahead of him on the depth chart, meaning this is a move for AHL depth more than anything.
Though he’s never had a one-way deal in his career, the two-year term of this new contract will provide Heatherington with some career stability. It also comes with a very healthy minor league salary, a raise over the $250K he made last season.
West Notes: Kaprizov, Keith, Jets Prospects
Concerns continue to rise about the availability of Russian players to NHL teams next season. One player who’s come into focus today due to a variety of conflicting reports is Kirill Kaprizov, who Minnesota Wild general manager Bill Guerin confirmed today is still in Russia despite rumors stating he had returned to the United States. In response to reports this morning that Kaprizov is currently wanted in Russia for buying a false military ID card five years ago, Guerin said the following:
We’re not going to push the panic button or anything like that. We’re just trying to gather information right now and find out if this is even credible.
Kaprizov is one of the multiple players whose situations are in limbo, exacerbated by the fact their KHL rights are held by CSKA Moscow, a Russian army-owned team. Russo notes that in the past, CSKA players have been exempt from military service, but this is an informal and non-codified rule. In addition, Kaprizov’s exemption from mandatory military service via a studentship in a Russian organization expired at the end of June. Very little is confirmed about the situation, but it’s a significant development that bears watching over the course of the offseason as it pertains to Kaprizov’s availability to the Wild next season.
- The Edmonton Oilers will get some clarity soon on the playing future of defenseman Duncan Keith, who could potentially decide to retire with one season remaining on his contract carrying a $5.54MM cap hit. General manager Ken Holland noted that he’d spoken to Keith twice in the past few weeks and that he’s requested an answer by this Saturday. That gives the Oilers a brief window of time ahead of free agency to work out replacement plans for Keith if he retires. The 38-year-old defenseman would not inflict a cap penalty on the Oilers if he opts to call it a career.
- Winnipeg Jets general manager Kevin Cheveldayoff gave injury updates today on a pair of important Jets prospects. Cole Perfetti, who suffered an upper-body injury in mid-February, has just started skating again and is not cleared to participate in the 2022 World Junior Championship for Team Canada. Additionally, 2021 first-rounder Chaz Lucius, who underwent ankle surgery after suffering a late-season injury with the University of Minnesota, won’t participate for the United States.
Minnesota Wild Extend Jacob Middleton
The Minnesota Wild and defenseman Jacob Middleton have come to terms on a three-year contract extension, per the team. The contract carries a cap hit of $2.45MM, a hefty raise for the now-signed restricted free agent.
Middleton played in his first full NHL season this past year at 26 years old. A seventh-round pick of the Los Angeles Kings in 2014, the 6′ 3″, 219-lb defenseman forced his way into the San Jose Sharks lineup this past season with a needed brand of physicality and impressive defensive results. It allowed the Sharks to net some solid value in return when they dealt him the Wild at this year’s Trade Deadline. Down the stretch, Middleton had five points in 21 regular-season games, averaging 17:55 per game. He added an assist in six playoff games.
Overall, Middleton’s netted four goals, 13 assists, and 17 points in 80 NHL games so far, with 14 of those points and 66 of those games coming this season.
Minnesota acquired him with the main intent of being tougher to play against, and the acquisition achieved that goal. His defensive play is a really nice byproduct too, and while his ceiling likely isn’t much higher than his current production, that $2.4MM cap hit is a decent value if his defensive game continues at its current level.
Columbus Blue Jackets Extend Adam Boqvist
The Columbus Blue Jackets are keeping pending restricted free agent defenseman Adam Boqvist around for three more seasons, per the team. The deal has a total value of $7.8MM and an average annual value of $2.6MM, taking him through the 2024-25 season.
General manager Jarmo Kekalainen gave the following statement on Boqvist’s extension:
Adam is a talented, mobile defenseman with the ability and creativity to provide offense from the blueline. Despite some injuries, he had a very good first season with our club at the age of 21 and as he gets bigger and stronger, we believe he has the potential to be a very impactful player in this league.
Losing time to those aforementioned injuries, Boqvist finished the 2021-22 season — his first in Columbus — with 11 goals, 11 assists, and 22 points in 55 games. In his third NHL season, Boqvist achieved a career-high in goals, points, and ice time (17:03). Over those three seasons, he’s played 128 games split between Chicago and Columbus and has 17 goals, 34 assists, and 51 points.
Overall, it’s been a solid start to Boqvist’s career, who Chicago selected eighth overall in the 2018 NHL Entry Draft. Columbus acquired Boqvist, along with a 2021 first-round pick (used on Cole Sillinger), a 2022 first-round pick (sixth overall), and a 2021 second-round pick (flipped to the Carolina Hurricanes in exchange for Jake Bean) in the massive Seth Jones trade prior to last year’s draft.
The 21-year-old Boqvist still needs to work on improving his defensive game at the NHL level, but he’s shown solid transitional play and offensive zone awareness thus far, earning him the extension. In all likelihood, he’ll be slotting into a top-four role in Columbus next season.
Latest On John Klingberg
The Dallas Stars are looking to be active this offseason after bringing Peter DeBoer in as their new head coach, and multiple reports suggest Dallas is full-steam ahead on trying to stay in contention with this core. However, it seems they’ll now be doing that without defenseman John Klingberg, who Daily Faceoff’s Frank Seravalli reports is heading to the free-agent market without “an avenue forward at the moment to keep him in Dallas.”
With the Pittsburgh Penguins all but certainly reaching an agreement to retain Kris Letang, Klingberg is undoubtedly the highest-quality defenseman for bidders looking to add this offseason. There’s some solid depth in the form of players like Ben Chiarot, Josh Manson, Nick Leddy, and Nikita Zadorov, but none have the ability to score 45-plus points like Klingberg.
He did have a bit of a rough 2021-22 campaign, though, likely limiting any contract he signs from exceeding the $7-8MM mark annually. While he did have a respectable 47 points in 71 games, he had the worst defensive season of his career with a -28 rating and a 49.7% Corsi for at even strength. It was his first season under the 50% Corsi mark since 2016-17.
Dallas has Miro Heiskanen ready to assume his role at the top of the depth chart, and it seems they’ll be able to reallocate Klingberg’s previous $4.25MM cap hit to improve their depth at all positions. The Stars have a projected $18.5MM in cap room per CapFriendly, but new contracts are also in order for Jason Robertson and Jake Oettinger. Even without Klingberg back in the fold, they’ll likely only have about $5-7MM worth of space to spend in free agency.
Klingberg will have a fair amount of suitors come July 13.
NHL Announces 2022-23 Regular Season Schedule
The news continues to break during what’s been a busy pre-draft week. The NHL has released the full 82-game schedule for the 2022-23 campaign, marking a return to normal dates and length for the first time since 2018-19.
2022-23 will see its curtains open overseas, where the San Jose Sharks and Nashville Predators will open the season at the O2 Arena in Prague, Czechia on October 7 and 8, 2022. The regular season will begin on the North American side of the Atlantic Ocean on Tuesday, October 11, 2022, with a classic doubleheader. The puck will drop at Madison Square Garden for an Eastern Conference Final rematch between the Tampa Bay Lightning and New York Rangers, followed by a Pacific Division showdown in Southern California between the Vegas Golden Knights and Los Angeles Kings.
The Colorado Avalanche Stanley Cup banner-raising ceremony will be the following night at home against the Chicago Blackhawks. The season will wrap up on April 13, 2023.
Some key events throughout the season include the 2022 Global Series in Tampere, Finland, where the Avalanche and Columbus Blue Jackets will play a pair of games on November 4 and 5, 2022. The 2023 Discover NHL Winter Classic is slated for January 2, 2023, between the Pittsburgh Penguins and Boston Bruins at Fenway Park, and the 2023 NHL Stadium Series is set for February 18, 2023, in Raleigh, North Carolina, where the Hurricanes will host the Washington Capitals. All-Star Weekend will be February 3-4, 2023, hosted by the Florida Panthers.
Pittsburgh Penguins Expect To Sign Kris Letang
There wasn’t much hesitation in Ron Hextall today as he met with the media, explaining to reporters including Chris Johnston of TSN that he would be “surprised” if they didn’t sign Kris Letang to an extension. Hextall hopes to have it done by the time they leave Montreal, where the hockey world is congregating for tomorrow’s draft.
On Evgeni Malkin, the team’s other franchise icon closing in on unrestricted free agency, Hextall said they are “still working” but didn’t share any other details.
Letang, 35, is still an extremely effective player and is actually coming off the best offensive season of his career. With 68 points in 78 games, racking up a career-best 171 hits, and still averaging close to 26 minutes a night, he finished seventh in Norris Trophy voting.
The three-time Stanley Cup champion is arguably more important to the Penguins than Malkin, at least in terms of this current championship window, as there is no internal option to fill the hole that Letang’s departure would leave. The team would have to look outside the organization, and players of his caliber obviously don’t hit the open market very often.
That’s also why a contract for Letang could still have a big number attached to it, meaning a multi-year extension carries quite a bit of risk for the Penguins. The team will be married to this aging core, meaning if he or Sidney Crosby takes a step back in effectiveness, any thought of contending for the Stanley Cup would likely go out the window.
Still, that’s likely the case even if Letang left in free agency, as the Penguins’ results are really tied to Crosby’s career at this point. Pushing in for a player you know and love–and also one who has spent his entire career in Pittsburgh–always did seem like the prudent option, even if it will mean committing lots of money to an aging talent.
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