2022 Offer Sheet Compensation
Though still rare, we have started to see the offer sheet used a little more often. In 2019, the Montreal Canadiens signed Sebastian Aho to a five-year deal, which was quickly matched by the Carolina Hurricanes to keep their star. That meant turning down a substantial package of picks, and locking Aho into a deal that was certainly not very team-friendly. In response, the Hurricanes signed Jesperi Kotkaniemi to a one-year deal worth more than $6.1MM last summer, something the Canadiens just couldn’t match. They received first- and third-round picks in exchange, while the Hurricanes recently signed Kotkaniemi to a long-term deal that drops his cap hit considerably.
Offer sheet compensation is based on the average salary of the league, and as CapFriendly reports, this year’s thresholds have increased a little more than two percent. Below is the full breakdown, with the contract’s average annual value placing it in one of seven tiers:
| $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 |
It is important to note that any team trying to sign a player to an applicable offer sheet must use their own draft picks for compensation, not ones that have been acquired. That rules several teams out already from signing high-profile RFAs unless they were to work to reacquire their picks before submitting the contract. An offer sheet’s average annual value is also calculated slightly differently than a normal contract; if the contract is of a length greater than five years, the total salary is still divided by five to determine the AAV. That would mean a seven-year contract worth $8MM per season would actually carry an AAV of $11.2MM for purposes of offer sheet compensation.
There are some restricted free agents, like Montreal’s Alexander Romanov, that have not accumulated enough time in the NHL to be eligible for an offer sheet. For more information about the details of offer sheets, check out CapFriendly’s FAQ.
Dallas Stars Sign Fredrik Olofsson
The Dallas Stars have convinced an interesting player to come back to North America, signing Fredrik Olofsson to a one-year, $750K contract for the 2022-23 season. Olofsson has played the last two seasons with Oskarshamn IK in the Swedish Hockey League.
Originally selected 98th overall in 2014 by the Chicago Blackhawks, Olofsson is an interesting case of a Swedish forward that spent his most important developmental years in the U.S. After playing minor hockey with the Colorado Thunderbirds, he spent parts of three seasons in the USHL and then all four years of his college eligibility at the University of Nebraska-Omaha. After he graduated, Olofsson failed to reach an agreement with the Blackhawks on an NHL contract, so his rights expired in the summer of 2019.
That’s when he returned to Sweden to play with the famed MODO program, which had been relegated to the second tier. In his first year back in Sweden he racked up 34 points in 52 games, and earned himself a chance at the SHL level. Now, after two strong years with Oskarshamn–and an appearance at the Olympics–he’s finally getting that NHL contract.
In 49 games this season, Olofsson–who is the brother of Charlotte Checkers defenseman Gustav Olofsson–scored 42 points. He’ll now get a chance to prove himself at the professional level back in North America, though there’s obviously still a long road ahead of him before he makes that kind of impact. As a waiver-exempt player, he can be sent to the minor leagues at any time, making it more difficult for him to crack the Stars roster out of camp. Still, with only two games of AHL experience under his belt, some time with the Texas Stars may not be a bad thing.
Los Angeles Kings Extend Rob Blake
The Los Angeles Kings surprised a lot of people this season, reaching the postseason and pushing the Edmonton Oilers to seven games. The fact that the team also has arguably the best prospect pool in the entire league and cap room to spend this offseason puts them in an enviable position and one that has resulted in a nice reward for the Kings’ architect.
Pierre LeBrun of The Athletic reports that general manager Rob Blake has signed a three-year contract extension with the Kings, though the deal is not expected to be announced for another week or two. Blake was in the final season of his current contract, one which was set to expire at the end of June.
It wasn’t always glowing reviews for Blake, who took over in 2017 and was immediately welcomed by years of on-ice struggles. The Kings missed the playoffs in each of the three seasons previous to this one, posting winning percentages well below .500 in the process.
That, along with some moves to sell off high-priced assets including Jeff Carter, Alec Martinez, Tyler Toffoli, and Jake Muzzin, allowed the team to collect a huge number of prospects and draft picks that have quickly turned their aging core into an extremely young one.
Now, Blake will have the task of turning a playoff team into one that can legitimately challenge for the Stanley Cup, and much of that work will have to be done with restricted free agent negotiations this summer. Adrian Kempe leads the way in that regard following his breakout 35-goal season, but others like Mikey Anderson, Sean Durzi, and Carl Grundstrom will also be interesting cases to monitor.
San Jose Barracuda Make Coaching Change
It’s another end of an era in San Jose. After the organization parted ways with long-time NHL general manager Doug Wilson, there is a huge change coming in the AHL as well. The San Jose Barracuda have appointed John McCarthy as their new head coach, announcing that Roy Sommer will move into a senior advisory role.
Sommer, 65, has been the head coach of the Sharks’ top affiliate for the past 24 seasons. That time includes years with the Kentucky Thoroughblades, Cleveland Barons, Worcester Sharks, and Barracuda, which resulted in the most wins of any AHL coach and an AHL Coach of the Year award in 2017. In his new role, he’ll assist Barracuda general manager (and acting Sharks GM), Joe Will, in scouting and player development.
McCarthy meanwhile is moving up from his role as a development coach with the Barracuda, but has a history with the organization that goes back long before he took on those responsibilities. Selected 202nd overall by the Sharks in 2006, he was the epitome of hard work and dedication, carving out a long professional career that included 88 NHL games and five years as captain of the Barracuda.
The young coach released the following statement on his new job:
I am honored to be named the head coach of the San Jose Barracuda. I have been a member of this organization for 13 years and could not be happier to have this opportunity. I’d like to thank the organization for putting their faith in me to lead this group, and I’m excited to get to work on developing the next wave of players for the Sharks.
San Jose also announced several other coaching changes. Assistant coach Jimmy Bonneau has been moved back to his previous role as a professional scout, assistant Michael Chiasson has accepted a position as an agent with CAA Hockey, and goaltending coach Dany Sabourin will not return to the organization next season.
Ben Chiarot Avoids Suspension, Earns Fine
The Florida Panthers will still have Ben Chiarot available for their next game, after the Department of Player Safety has decided his headbutt on Tampa Bay Lightning forward Ross Colton will earn a fine, instead of a suspension. Chiarot has been fined $5,000 for the incident.
When the playoffs began, it seemed unlikely that there would be two head-butting incidents in the first handful of games but that is exactly what has happened after Darnell Nurse was suspended in the Edmonton Oilers’ first-round series. While there are some comparisons between the two plays, it seemed clear that Chiarot’s was of a lesser degree. Partway through the second period, he and Colton came together after a whistle, and the Panthers’ defenseman pushed his helmet into his opponent’s visor.
The league has obviously deemed that unacceptable but ruled it did not rise to the level of a suspension. Still, Chiarot will now be under the microscope as the Panthers try to continue their postseason run, and could receive further discipline should he be involved in any other incidents like this.
Calgary Flames Recall Juuso Valimaki
The Stockton Heat don’t start their third-round playoff series until Monday, meaning at least for the next few days, the Calgary Flames can have another extra body around. Juuso Valimaki has been recalled from the AHL, and was on the ice with the Flames today as they prepare for their opening game against the Edmonton Oilers.
The Flames’ Chris Tanev has been dealing with an injury but was also on the ice today according to Pat Steinberg of Sportsnet, meaning Valimaki’s recall might be nothing more than a little insurance for the next few games. The team will do battle tonight, Friday, and Sunday before the young defenseman is needed back with Stockton, where the Heat are going for their own championship.
It’s been a difficult road for the 2017 first-round pick, who missed the entire 2019-20 season due to injury just as his career was starting to take off. This season he played most of the year with the AHL club, appearing in 35 games with Stockton compared to just nine for Calgary. Set to turn 24 before the start of next season, he’s signed for the 2022-23 campaign at a $1.55MM cap hit but has obviously not proven himself enough to be a regular in the lineup.
Because of that contract though, any chance he does receive will be an important showcase for the young defenseman. The Flames will see Nikita Zadorov, Erik Gudbranson, and Michael Stone all hit unrestricted free agency this summer, meaning there will be room for someone like Valimaki to step into a full-time NHL role if necessary.
Bruins Notes: Sweeney, Marchand, DeBrusk
The Boston Bruins climbed back into their first-round series several times before ultimately falling to the Carolina Hurricanes in seven games, and now face an offseason of uncertainty. Captain Patrice Bergeron is a pending unrestricted free agent, and though he has explained he wants to return, will turn 37 in July. David Pastrnak could also use a new contract, as he is only signed for one more year before potentially hitting the open market in 2023.
But before those situations are dealt with, it’s another key member of the organization that needs a new deal. General manager Don Sweeney does not yet have a contract for net season, and when asked today about the situation, he told reporters including Matt Porter of the Boston Globe that he expects the situation to be resolved “in short order.” Sweeney has been in charge of the team since 2015.
- Like every team after a long grueling season, there are also injuries to deal with. Brad Marchand has a hip issue that may require offseason surgery, according to Porter, though the final decision has not been made on a treatment path. The 34-year-old forward had another outstanding season for the Bruins this year, scoring 32 goals and 80 points, before being their most effective player in the postseason as well. While some of the other players on the Boston roster may still get more press (at least for their positive accomplishments), it’s Marchand that has been one of the most consistent forces in the entire league the last six seasons.
- It’s not just contract negotiations and injury timelines though, the Bruins are also still dealing with the Jake DeBrusk situation. The 25-year-old winger put in a trade request some time ago, and despite some late-season success after moving higher in the lineup, things don’t appear to have officially changed. DeBrusk told reporters earlier this week that he hadn’t really thought about it since the deadline, but Sweeney explained today that he doesn’t think anything has changed, “other than he’s happier.” Whether that means he’ll rescind the request and stick around is unclear at this point, but he already has a contract extension through 2023-24.
2022 Lady Byng Finalists Announced
The NHL continues its daily revealing of award finalists and today’s is the Lady Byng Memorial Trophy. The award is voted on by members of the Professional Hockey Writers Association and is given “to the player adjudged to have exhibited the best type of sportsmanship and gentlemanly conduct combined with a high standard of playing ability.”
This year’s finalists are Kyle Connor of the Winnipeg Jets, Jared Spurgeon of the Minnesota Wild, and Jaccob Slavin of the Carolina Hurricanes.
Connor, a finalist for the first time, put together an incredible season even as the Jets struggled to take off. The 25-year-old sniper potted 47 goals and 93 points in 79 games, and, perhaps most impressively, recorded just four minutes in penalties. Two minutes in November for slashing, and two minutes in March for hooking were the only times Connor was forced to spend in the sin bin, an eye-popping feat given he played nearly 22 minutes a night for Winnipeg.
If the Winnipeg forward wants to win, though, he’ll have to go through a pair of defensemen that are certainly not new to the award.
Spurgeon, last year’s runner-up, put together another season that seems to boggle the mind, recording just ten penalty minutes despite playing more than 21 minutes a night on defense. In 772 NHL games, Spurgeon has amassed just 130 penalty minutes, and has been nominated for the Byng on eight different occasions. Add in his ten-goal, 40-point campaign, and you certainly have a player who combined gentlemanly conduct and a high standard of play during the regular season. Remember, those who want to point out his playoff cross-check, that this voting is done before the postseason commences.
Slavin, last year’s winner after taking just two minutes in penalties all season, decided to goon-it-up this year with a total of ten in 79 games. The Hurricanes defenseman is the perfect blend of mobility, positioning, and stick checking ability, ending countless plays without ever losing ground. He reached a new high in points with 42, while once again logging more than 23 minutes a night for Carolina. Nominated for the Lady Byng in each of the last five seasons, he could become the first player to win the award in consecutive years since Martin St. Louis.
Who should win the 2022 Lady Byng?
-
Kyle Connor 51% (265)
-
Jared Spurgeon 26% (132)
-
Jaccob Slavin 23% (119)
Total votes: 516
Stars Notes: Klingberg, Bowness, Injuries
As things currently stand, Dallas Stars defenseman John Klingberg is arguably the best defenseman set to be available in this summer’s free agent market. But according to Klingberg, he hopes he doesn’t get there. In today’s season-ending meeting with the media, Klingberg, who has been the subject of many trade rumors in the past, emphasized his desire to remain in Dallas, saying:
At the end of the day, I always want to stay here. We’ve been trying to find different ways to get it done. Year length, money-wise, just trying to get something we’re both happy with.
The factors that could potentially block a Klingberg return are the ones he mentioned, the cost and length of his extension. On May 7th, Stars GM Jim Nill said that he would love to keep Klingberg. But it may not be possible given the team’s cap situation and the other offers Klingberg could receive on the open market. The Stars already have Miro Heiskanen, Esa Lindell, and Ryan Suter under contract for at least the next three seasons, and with extensions for Jake Oettinger, Jason Robertson, Denis Gurianov, and Roope Hintz to consider over the next two offseasons, it’s difficult to imagine that the Stars will be able to match the kinds of offers Klingberg could receive from elsewhere. So, despite the mutual interest in a return that was communicated today, it looks as though some serious creativity will be required if Klingberg is to remain with the only NHL team he has ever known.
Now, for some other notes regarding the Stars:
- Stars head coach Rick Bowness coached this season on an expiring contract, a deal that has now ended thanks to the Stars’ defeat at the hands of the Calgary Flames. Per Matthew DeFranks of The Dallas Morning News, Bowness stated today that he would prefer a one-year contract at this stage of his career and that he may consider retirement if that’s the path he chooses to go down. Nill did praise Bowness’ work today, emphasizing that Bowness has “done a good job” in this 98-point campaign. He did also say, though, that they will need to “reassess everything.” So with both Bowness and Nill’s comments in mind, it’s certainly possible that the Stars join the multitude of teams seeking a new head coach this offseason.
- On exit days across the NHL, it is common for the numerous injuries a team’s players have been playing through to be revealed publicly for the first time. The Stars’ end-of-season press conferences were no different, and we learned today of a multitude of ailments that Stars players were battling during the season. As relayed by Saad Yousuf of The Athletic, Tyler Seguin fractured his foot in Game One of the series, Hintz strained his oblique in Game Six, and Luke Glendening had a concussion and both knee and groin issues that would have kept him out on a week-to-week basis. While it’s certain that all three players would rather be taking on the Edmonton Oilers tomorrow night, one small benefit of the Stars’ loss is that they now get to begin the recovery process in earnest.
Update On Evgeni Malkin, Kris Letang
Earlier today Evgeni Malkin addressed his pending unrestricted free agency and future with the Pittsburgh Penguins, stating that he hopes to retire in Pittsburgh. For that to be possible, he must ink a contract extension with the only team he has ever known. Malkin, 35, has remained consistently productive as he has aged (42 points in 41 games this season) but has also struggled to remain in the lineup on a regular basis. So, his importance to the franchise and his strong production square up against the declining reliability of his health to make his upcoming contract situation an especially intriguing one.
Just as Malkin’s contract is expiring, so is the contract of another Penguins franchise icon: Kris Letang. Letang, who is also 35, is coming off a season where he posted a career-high in points (68) and managed to stay in the lineup for 78 games, his most since the 2017-18 season. With Malkin and Letang both up for new contracts, the Penguins’ front office (and new ownership group) has a fork-in-the-road opportunity to change the direction of the franchise.
Rob Rossi of The Athletic reported yesterday that the Penguins had offered Malkin and Letang matching three-year, $15MM extensions, offers that “did not sit well” with Sidney Crosby. While that is certainly a major development, if true, Elliotte Friedman of Sportsnet added some context to the situation in his recent 32 Thoughts blog. Friedman supported Rossi’s reporting on the Penguins offering Malkin a three-year term on his extension, stating that the team has symmetry with the three years left on Sidney Crosby’s contract in mind. He also reported that Malkin’s camp and the Penguins were “far, far apart” on the actual dollar value of the extension, a separation that could make Malkin’s return more challenging.
As for Letang, Friedman reported that his offer was larger than the one mentioned in Rossi’s report. Friedman says that the “last he heard” was that Letang was offered a four-year contract carrying an average annual value just “a bit less” than his current AAV of $7.25MM. Given the annual values of contracts other high-end defensemen have received (Seth Jones, Darnell Nurse, and Dougie Hamilton, as comparables, got at least $9MM AAV on deals with significantly more term) it’s an open question as to whether that reported offer will be sufficient to retain Letang’s services.
Letang did say, per Mike DeFabo of the Pittsburgh Post-Gazette, that his “main goal” is to stay in Pittsburgh, so perhaps he will not enter the market eyeing a deal comparable to those other elite defensemen. But one does have to keep in mind that this very well could be Letang’s last chance at a massive contract, due to his age. At the very least, it seems from Friedman’s reporting that while the Penguins are apparently undertaking an earnest effort to retain their two franchise legends, there are still obstacles in the way.
Photo courtesy of USA Today Sports Images