Salary Cap Deep Dive: New York Rangers
Navigating the salary cap is one of the more important tasks for any GM. Teams that can avert total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.
PHR will look at every NHL team and give a thorough look at their cap situation heading into the 2019-20 season. This will focus more on those players who are integral parts of the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.
New York Rangers
Current Cap Hit: $80,489,799 (under the $81.5MM Upper Limit)
Entry-Level Contracts
F Kaapo Kakko (three years, $925K)
F Vitali Kravtsov (three years, $925K)
D Adam Fox (three years, $925K)
G Igor Shesterkin (two years, $925K)
D Yegor Rykov (two years, $925K)
F Filip Chytil (two years, $894K)
F Lias Andersson (two years, $894K)
F Brett Howden (two years, $863K)
D Libor Hajek (two years, $833K)
G Alexandar Georgiev (one year, $792K)
Potential Bonuses:
Shesterkin: $2.85MM
Kakko: $2.65MM
Kravtsov: $850K
Fox: $850K
Andersson: $850K
Chytil: $350K
Georgiev: $133K
The Rangers are in a fantastic position to be successful for the next several years as the team hit the jackpot in the draft and with being able to sign several of their top prospects this summer. Obviously, the most attractive of the bunch will be Kakko, the team’s second-overall pick in this year’s draft, who is expected to jump into the Rangers’ top-six immediately and is supposed to be more NHL-ready than any of the 2019 lottery picks. The 18-year-old scored 22 goals last year in the Liiga, playing alongside adults and is believed to be ready. On the other hand, the team also signed their ninth-overall pick in 2018, Vitali Kravtsov, who also spent last season playing with adults as he tallied eight goals in 50 games in the KHL. While he is expected to begin play with the Rangers next season, he may be penciled into more of a third-line role to begin with.
New York also brought in a pair of quality defenseman, which included trading for Fox, who forced a trade out of Carolina to get to the Rangers. The team then signed him to a three-year entry-level contract, prying him away from a senior season at Harvard. Fox, had a monster year as a blueliner, posting nine goals and 48 points in 33 games for the Crimson and looks ready to step into their blueline immediately. The team also managed to sign Rykov, their fifth-round pick from 2016, who has now played three full seasons in the KHL and could be ready to step in, although with the depth on their blueline, Rykov could start the season in the AHL.
On top of all that, the Rangers also managed to nab a stud goaltending prospect as well, signing Shestorkin, who many wondered whether he would ever come over to North America. At 23 years, old, Shesterkin has been a starter in the KHL for three straight years, putting up amazing numbers. Last season in 28 games, he posted a 1.11 GAA and a .953 save percentage. With the team’s goaltending situation likely looking different in the next few years, Shesterkin is the most likely heir apparent on the team. One player who could stand in his way is Georgiev, who only seems to have gotten better in the last year. While his overall numbers weren’t that impressive (33 games, 2.91 GAA, .914 save percentage), it did improve over the course of the year as the 23-year-old posted a 2.49 GAA and a .927 save percentage in 17 appearances after the all-star break, suggesting he could also find himself as the future.
The team also has to find out about what it has in both Chytil and Andersson. Both drafted in the first-round back in 2017, the two centers haven’t proven that they are part of their future yet. Chytil showed some success last year, scoring 11 goals and 23 points in 75 games, while Andersson got into 42 games last year, but only scored two goals and six points. Both must show they are ready to take that next step or they could find themselves replaced down the road. The team also has Howden, who appeared in 66 games last season and also must prove he can take on a bigger role. He tallied six goals and 23 points last year.
One Year Remaining, Non-Entry-Level
F Chris Kreider ($4.63MM, UFA)
F Vladislav Namestnikov ($4MM, UFA)
F Ryan Strome ($3.1MM, RFA)
F Matt Beleskey ($1.9MM, UFA)
F Jesper Fast ($1.85MM, UFA)
F Greg McKegg ($750K, UFA)
F Boo Nieves ($700K, UFA)
The most intriguing story that likely will go on all season is what will the Rangers do with Kreider. The 28-year-old winger posted 28 goals and 52 points last season, but after the team shelled out quite a bit of money this offseason for other key pieces to their franchise, there are a number of questions whether the team can now afford to keep Kreider, who becomes a free-agent this summer. While it’s still possible that New York could trade Kreider before the season starts, it’s possible the team will keep the winger to bolster their ever improving top-six and deal with his contract later or potentially move him at the trade deadline. The problem is that if the Rangers become playoff relevant next season, the team might have a difficult time moving out Kreider and then might decide to hold onto him instead, potentially losing him for nothing on July 1.
Many players will have to prove their value to get a new contract. Namestnikov, who performed well with the Lightning, has been a disappointing since coming over in the Ryan McDonagh trade. The winger scored 22 goals in 2017-18, but still struggled after the trade and then managed to get 11 goals last year. With a $4MM contract, the team could use some cap relief, but have failed to find a taker for the 26-year-old. Strome will be a restricted free agent still after next season, but if he can duplicate what he did with New York last year, he likely could have a future with the team. Despite starting the first 19 games with Edmonton with just one goal, the trade to New York got him going as he scored 18 goals in 63 games after that.
Fast, Beleskey, Nieves and McKegg all are now depth options who will have to fight to win bottom-line depth and prove their value for a potential new contract.
Two Years Remaining
G Henrik Lundqvist ($8.5MM, UFA)
D Marc Staal ($5.7MM, UFA)
D Brendan Smith ($4.35MM, UFA)
F Pavel Buchnevich ($3.25MM, RFA)
The team still has two more years remaining with Lundqvist at a high AAV, but the team has also seen the 37-year-old’s play continue to decline. While his GAA has dropped consistently in the last few years, it was his save percentage that dropped to a .907 save percentage, the lowest mark of his career. Much of that could have a lot to do with the Rangers’ rebuilding process this year. The team has to hope that if they can limit his starts (he played in 53 games last season) and with the improvement of both the offense and defense this season, Lundqvist should be able to bounce back. With the addition of Shesterkin and development of Georgiev, that is quite possible to pull back his starts into the 40-range.
The team is stuck with a pair of veterans in Staal and Smith. Both were discussed as potential buyout options this summer, but it was decided that neither move would have helped the team in the long-term. Staal continues to be a solid, but unspectacular blueliner and should continue in that role, while Smith will have to prove he belongs on the team and could find himself buried in the AHL as he was in the 2017-18 season due to his struggles.
The team has hopes that Buchnevich will continue to progress this season. He has gotten better each season in the league and is currently on a bridge-deal to prove his value. With 21 goals and 38 points last season, Buchnevich could be a key component of the Rangers future, especially if he can take his game up a notch next year. Ultimately, the 24-year-old is playing for a big contract in two years.
Three Years Remaining
F Mika Zibanejad ($5.35MM, UFA)
The Rangers finally got what they wanted last season when Zibanejad took that next step and proved to be the No. 1 center the team has been waiting for for years. The 26-year-old put up a career-high 30 goals, but more importantly saw his points improve from 47 points in 2017-18 to 74 points last year. With that next step taken, the Rangers have now added the firepower next to him to give the team one of the top lines in the league with Zibanejad as the centerpiece. The Rangers signed him to a five-year deal back in 2017 when he tallied just 14 goals and 37 points in 56 games, gambling on his potential, which now looks like quite a steal as the team still has three more years of a No. 1 center for a very reasonable price.
Four Or More Years Remaining
F Artemi Panarin ($11.64MM through 2025-26)
D Jacob Trouba ($8MM through 2025-26)
D Brady Skjei ($5.25MM through 2023-24)
The Rangers took the next step in their rebuilding project this summer when they spent $19.64MM AAV on two key players. They had to go higher than they wanted to for Panarin, but the Rangers inevitably sealed the deal and locked him up for the next seven years, giving them one of the best left wings in the game and another key piece to turning the franchise around. With Panarin and Zibanejad already locked into the first line, the franchise has a solid core to start the season. Who will play on the right side will be determined at training camp. The 27-year-old Panarin put up impressive numbers last season, scoring 27 goals and adding a career-high 87 points last season. The team also went out and traded for Trouba, who for years had made it clear he didn’t want to be in Winnipeg. Once the Rangers acquired him, it took a little time, but they were able to extend him for seven more years. The pressure will be on Trouba, who now has everything he wants, which includes becoming the team’s No. 1 defenseman. He will have to prove that he is up to it in New York.
As for Skjei, the defenseman rebounded last year with a stronger season after struggling in 2017-18. Despite seeing his offensive numbers drop from 39 points to 25 and finishing 2017-18 with a minus-27 rating from his rookie season to his sophomore campaign, the Rangers still signed Skjei to a six-year, $31.5MM deal. While his points total didn’t change at all, his plus/minus did improve as he finished with just a minus-four rating last season. The hope is that his development will continue and he will remain a key top-four option for New York for years.
Buyouts
D Kevin Shattenkirk ($1.48MM in 2019-20; $6.08 in 2020-21; $1.43MM in 2021-22 & 2022-23)
D Dan Girardi ($3.61MM in 2018-19; $1.11MM from 2019-20 to 2022-23)
F Ryan Spooner ($300K through 2020-21)
Retained Salary Transactions
None
Salary Cap Recapture
None
Still To Sign
F Brendan Lemieux
D Anthony DeAngelo
The cap situation will only get more challenging. Despite the Shattenkirk buyout, the team will have to pay out $6.08MM for him next season, which will make it difficult to continue to upgrade the team, another reason why Kreider might be difficult to re-sign.
However, the team does still need to sign two younger restricted free agents in Lemieux and DeAngelo. The team likes Lemieux’s irritating style of play and hope he can continue to improve in a bottom-six role with the team. DeAngelo also seems to have turned the corner and looks to be a lock on the team’s defense after several years of waiting on his skills to come around. With the cap struggles it’s dealing with this year, the team is still holding out hope that both players will eventually accept their qualifying offers to save the team money, while both players would prefer to get a little more.
Best Value: Zibanejad
Worst Value: Smith
Looking Ahead
The Rangers have pulled off an impressive rebuilding campaign that started in February of 2018 and in just a year in a half, the team has managed to bring in a number of top players and talent to give the team the faces of the franchise it needs to be competitive for many years into the future. With the impressive array of prospects it has managed to sign this offseason, the team has a bright future and a present that could begin as early as this year with Panarin and Trouba now under contract.
Photo courtesy of USA Today Sports Images.
Metropolitan Notes: Kreider, Gardiner, Konecny
The New York Rangers have made a number of key improvements to their team with two significant moves that have affected the team’s salary cap situation. The Rangers signed star winger Artemi Panarin to a seven-year, $81.5MM deal on July 1, but also traded for defenseman Jacob Trouba and signed him to a seven-year, $56MM deal. While the team had plenty of cap space, the team now is somewhere between $900K and $1.55MM over the cap and that’s not including a number of restricted free agents left to sign, including Pavel Buchnevich, Brendan Lemieux, Anthony DeAngelo and Vinni Lettieri.
Because of that, The Athletic’s Rick Carpiniello (subscription required) writes that with those kinds of cap issues which should only get more challenging in the future, it likely ends the team’s run with forward Chris Kreider. The 28-year-old is in the final year of his contract and would likely seek a deal somewhere around seven years at $7MM per season, something that the Rangers can’t afford for a inconsistent forward who will be 29 years old when the new contract kicks in. It makes more sense that the Rangers will try to unload Kreider now for the most possible return to help with their cap issues.
- In an article looking at three ways to improve the New Jersey Devils roster this offseason, NJ.com’s Chris Ryan writes that in a summer in which general manager Ray Shero has made some savvy moves, including acquiring P.K. Subban from Nashville for practically nothing as well as signing forward Wayne Simmonds to a one-year, $5MM “prove it” deal, the team can still make upgrades. He writes that the team should consider signing free-agent defenseman Jake Gardiner, who remains unsigned, in hopes of bolstering their weak left-side which has just Andy Greene, Will Butcher and Mirco Mueller there. Even Ty Smith, who is left-handed, played on the right side in junior, so there is a realistic opening on the left side and Gardiner might be a good fit there, assuming he’d be willing to come down from his rumored $7MM pricetag.
- With a few key restricted free agent forwards already having signed, the Courier Post’s David Isaac writes in his mailbag piece that he believes that Philadelphia Flyers forward Travis Konecny is likely to sign within the next few weeks, especially now that a couple significant comparables have signed. the scribe writes that with Timo Meier having signed for four years at $6MM with San Jose and Jakub Vrana agreeing to a two-year deal at $3.35MM, it has set a market for Konecny. It’s likely that Konecny will fall somewhere between the two. The 24-year-old has had two straight 24-goal seasons and had a career-high 49 points last season. With the legitimate potential that a breakout season could come soon, it’s much more likely that Konecny opts to sign a short-term bridge deal over a long-term one.
Metropolitan Notes: Williams, Voracek, Kreider
It’s been a busy offseason for the Carolina Hurricanes as the team has worked hard to improve their roster in hopes of keeping themselves relevant after a impressive playoff run last season. The team has already signed restricted free agent Sebastian Aho after matching the offer sheet he signed with the Montreal Canadiens. The team traded for Erik Haula and signed Ryan Dzingel to a reasonable deal as well. They also brought back goaltender Petr Mrazek to bolster their goaltending.
However, there is one thing still missing from their offseason so far and that’s a decision from veteran forward Justin Williams. News & Observer’s Luke DeCock writes that while Williams is still trying to decide whether he will return for a 19th season. The 37-year-old was still quite productive last season, putting up 23 goals and 53 points. However, he wants time before committing for another season.
DeCock writes that the expectation among the team is that Williams will return, but at the same time, no one really knows what he will do. However, Williams return could make a huge difference to their fortunes next season. While the team likely doesn’t need him to be a top-six scorer anymore, the team needs his leadership and abilities as he would get a simpler role as a bottom-six option.
- The Athletic’s Charlie O’Connor (subscription required) analyzes the recent play of Philadelphia Flyers forward Jakub Voracek, who has seen his role as a top-line forward change. The 29-year-old has moved to the second line and is starting to see a change in his long-time role, according to O’Connor, who writes that the veteran is no longer a play-driver like he has been in previous years. Since signing his eight-year, $66MM deal back in 2015, he’s hasn’t put up peak numbers with the exception of his 2017-18 season in which he put up 20 goals and 85 points. While he once was a player who could lead a pair of rookies on his line, the belief is that he is no longer that player. While still a solid middle-six option, it looks like Voracek is entering a new phase in his career even though he has five more years at $8.25MM AAV.
- The Athletic’s Shayna Goldman (subscription required) writes the New York Rangers must make a decision on what they want to do with Chris Kreider. The 28-year-old forward is in the final year of his contract and should acquire a significant raise from his $4.63MM AAV this season. Goldman writes that while the team technically could wait to make a decision on whether they want to re-sign Kreider until the trade deadline next year, waiting that long could have its own problems. With Artemi Panarin, Jacob Trouba, Kappo Kaako and Vitali Kravtsov expected to join their lineup this season, the team could challenge for a playoff spot, which might make it difficult for the Rangers to trade off Kreider and then the team could conceivably lose him for nothing if they don’t intend to bring him back. With rumors that it might cost New York seven years at $7.3MM per season, the team has to make a big decision soon.
Snapshots: Panarin, McGinn, Greening
It was hard to miss Artemi Panarin‘s free agency decision on Monday, as an all-world player landed in the largest market in North America. However, what wasn’t clear right away was how Panarin’s new seven-year, $81.5MM contract with the New York Rangers was structured. CapFriendly has cleared that up, revealing the terms of the monster deal. To no surprise, the details continue to favor the star forward. While Panarin’s contract carries an $11.643MM cap hit, he will in fact make a salary of just $1MM each year. What this means is that Panarin’s deal includes nearly $75MM in signing bonuses, making the contract virtually buyout-proof. The bonuses role out in descending order, beginning with a $13MM bonus this season down to a $7MM bonus in 2025-26. Also unsurprisingly, Panarin’s deal includes a full No-Movement Clause. The investment in the 27-year-old Panarin, who has topped 70 points in each of his four NHL seasons, is pretty safe, which is lucky for the Rangers since is contract is all but immovable.
- The deadline to file for salary arbitration is coming up, and the first name to file has been revealed. Speaking with media, including the Raleigh News & Observer’s Chip Alexander, Carolina Hurricanes GM Don Waddell noted that forward Brock McGinn has filed for arbitration. McGinn, 25, has emerged as a regular contributor for the ‘Canes over the past two years, missing only two games and posting back-to-back seasons of 25+ points. He additionally contributed six points in 15 playoff games during the run to the Eastern Conference Final this year. McGinn is also one of Carolina’s most physical forwards and plays a role on the penalty kill. Yet, his ice time is still somewhat limited, particularly playing sheltered minutes to do some turnover tendencies. The Hurricanes will try to support their filing number by pointing out McGinn’s relatively minor role and lack of overall career results, while the player side will emphasize the recent climb in scoring and ice time and his platform year being arguably his best season to date and coinciding in a return to the postseason for Carolina. Waddell, who recently joked that the Sebastian Aho offer sheet had freed up his summer due to a lack of contract negotiations, is not out of the woods yet, with McGinn filing, Trevor Carrick, Anton Forsberg, and Saku Maenalanen eligible to file, and several other restricted free agents in need of extensions.
- Veteran forward Colin Greening has called it a career reports Toronto Marlies reporter Jacob Stoller. Although Greening has played solely for the Marlies over the past three seasons, he logged close to 300 NHL games with the Ottawa Senators and Toronto Maple Leafs, including a 37-point season in 2011-12. Greening’s NHL production certainly declined as his career went on, but as he transitioned to a minor league leadership role, Greening ended up being both a reliable source of scoring and a key locker room presence. Greening will likely be remembered most for captaining the Marlies to the 2018 Calder Cup, as well as his dominant college career at Cornell University.
Artemi Panarin Signs With New York Rangers
After the Columbus Blue Jackets, New York Islanders, Florida Panthers and Colorado Avalanche all made huge pitches to try and convince Artemi Panarin to join their squads, it ends up being the New York Rangers who will acquire his services moving forward. The Rangers have agreed to terms on a seven-year, $81.5MM deal with Panarin.
Panarin, 27, was the consensus No. 1 in our Top 50 UFAs this season, and will immediately become the highest-paid winger in the entire NHL. His cap hit is will be more than $1MM higher than Patrick Kane‘s $10.5MM from several years ago and well ahead of the recent market set by Nikita Kucherov and Mark Stone at $9.5MM. Part of that is the fact that he actually got to unrestricted free agency, but there is good reason to think he will be able to perform at a high level for quite some time.
In the four years he has played in North America, the originally undrafted Panarin has only gotten better. Setting a career-high with 87 points last season in just 79 games, he proved that he could create offense with any type of linemate and established himself as a legitimate superstar in the NHL. That’s exactly what the Rangers were waiting for and have now had quite the summer. They had already traded for both Adam Fox and Jacob Trouba to improve their blue line, and drafted Kaapo Kakko second overall. Panarin’s contract is extremely expensive, but also puts the Rangers in line to compete for the playoffs as soon as next season.
This is a team that just over a year ago sent a letter to fans explaining that they were going to have to trade some “familiar faces, guys we all care about and respect” but were committed to building a Stanley Cup contending team. In such a short time the team has dealt away Ryan McDonagh, J.T. Miller, Jimmy Vesey, Rick Nash, Nick Holden, Adam McQuaid, Mats Zuccarello, Neal Pionk, Kevin Hayes and Michael Grabner in order to set themselves up with an almost unmatched prospect pipeline and a great chance of success in the future.
Now, after finishing near the bottom of the league and picking second overall, the rebuild is finished in New York. Panarin’s deal ushers in the next phase that will include competing for the playoffs. That doesn’t necessarily mean they’re finished trading though, as Chris Kreider and Vladislav Namestnikov remain just a year away from unrestricted free agency and may not be considered key parts moving forward.
Columbus Makes Late-Night Push To Re-Sign Artemi Panarin
11:30pm: Midnight has come and gone in the eastern time zone without an announced contract for Panarin. The Blue Jackets can now only offer him a seven-year contract like any other team. Adrian Dater of Colorado Hockey Now reports that the Avalanche also offered a six-year, $70MM ($11.67MM AAV) deal to Panarin, though Elliotte Friedman of Sportsnet was told an even higher amount.
9:39pm: For most of the last year, all signs pointed to Artemi Panarin leaving the Columbus Blue Jackets for another team on July 1 as the top free agent available. The Florida Panthers had been rumored for months to be interested in acquiring his services, and then earlier today a report surfaced that he might be heading to the New York Islanders instead. Now in a late-night push the Blue Jackets have put their best offer on the table, one that Aaron Portzline of The Athletic (subscription required) reports is believed to be for eight years at an average annual value of $12MM. The Athletic’s Pierre LeBrun has heard the same, though Portzline suggests it could be even higher than that.
Panarin was the consensus top choice in our Top 50 UFAs this season, and is a superstar talent that can create offense all on his own. The most interesting part of the offer is that the Blue Jackets can only technically offer an eighth year until midnight (EST), after which they would be in the same position as any other team only able to offer seven seasons. With reports surfacing that the Blue Jackets’ other top free agents, Matt Duchene and Sergei Bobrovsky will be leaving town, it is obvious that GM Jarmo Kekalainen wanted to take one more crack at keeping one of his stars.
Currently the highest paid player in the league is Edmonton Oilers forward Connor McDavid who signed an eight-year, $100MM deal quickly after becoming eligible for an extension. Panarin though would easily become the highest paid winger in the league with a deal like this, and shatter the market set by players like Mark Stone and Nikita Kucherov in recent years. Patrick Kane, who signed his current deal back in 2014, currently carries a $10.5MM cap hit while Alex Ovechkin is more than a decade into his 13-year contract which carries a cap hit of $9.54MM.
UFA Notes: Pickard, Agostino, Leier, Speculation
There’s a goalie competition coming to Detroit. TSN’s Frank Seravalli reports that free agent goalie Calvin Pickard is poised to sign a two-year deal with the Red Wings when the market opens tomorrow. As Seravalli notes, that will pit him against Jonathan Bernier for the backup role behind Jimmy Howard. With Howard, 35, signed through just next year but both Bernier and soon Pickard signed for two more years, the time share in net next season in Detroit could be fascinating. Not only could the two veteran goalies battle to be Howard’s understudy next season, but they could be in line to replace him a season later. Neither keeper found much success in 2018-19. Bernier, who some expected to beat out Howard for the starting job, instead posted the worst numbers of his career – a .904 save percentage and 3.16 GAA – in 35 appearances. Pickard fared even worse, allowing an .875 save percentage and 3.86 GAA in a season split between the Philadelphia Flyers and Arizona Coyotes. Pickard’s advantage in the battle though will be his price point, expected to be low after a down year, compared to Bernier’s $3MM mark.
- The Toronto Maple Leafs are lacking the cap space to do much of anything other than adding affordable depth pieces. Adrian Dater of Colorado Hockey Now reports that one such deal is already done. Former AHL MVP Kenny Agostino is expected to sign a two-year, one-way contract with the Leafs, though Dater does not provide any salary details. Agostino, 27, finally got a full-time look in the NHL last season, playing in 63 games with the Montreal Canadiens and New Jersey Devils. Agostino recorded 24 points on the year, a mark that Toronto would be very happy with if the winger comes in at a low cost.
- It was a year of change for Taylor Leier, who experienced both his first trade, moving from the Philadelphia Flyers to the Buffalo Sabres, and his first season spent exclusively in the AHL. Despite qualifying for Group 6 unrestricted free agency, it seems the 25-year-old forward has place emphasis on familiarity instead of opportunity. The Rochester Americans, affiliate of the Sabres, have announced a one-year AHL contract with Leier. The signing comes as a bit of a surprise, considering Leier spent the entire 2017-18 season in the NHL and has been a very productive AHL player. Young and capable, Leier seemingly would have been a good fit for a two-way deal somewhere, but apparently would rather stay put in Rochester, perhaps in hopes of convincing Buffalo that he is worthy of an NHL contract.
- Spoiler alert! Although he acknowledges that they are just educated guesses and provides few details, TSN’s respected insider Bob McKenzie has offered some insight where some of the biggest UFA names may end up tomorrow. McKenzie believes that Columbus teammates Artemi Panarin and Sergei Bobrovsky may not end up as a package deal after all. He thinks that Panarin, and possibly Semyon Varlamov, could land with the New York Islanders, while Bobrovsky goes alone to the Florida Panthers. Those moves would then leave the Carolina Hurricanes and Columbus Blue Jackets as the likely to suitors for Robin Lehner. McKenzie also states that a long-term deal for Mats Zuccarello with the Minnesota Wild appears to be close to done.
Free Agent Focus: Florida Panthers
Free agency is now just a few days away and there are quite a few prominent players set to hit the open market while many teams have key restricted free agents to re-sign. The Florida Panthers have quite a few restricted free agents to acquire although no young players worthy of significant deals, while the team has few important unrestricted free agents to worry about, which gives the franchise the opportunity to focus completely on the free-agent market that opens on Monday.
Key Restricted Free Agent: D MacKenzie Weegar – The Florida Panthers have brought the 25-year-old blueliner slowly and he’s starting to provide some value as bottom-tier defenseman. Weegar almost doubled his offensive output, putting up four goals and 15 points last season, while seeing his ATOI increase by more than two minutes to 16:58. Injuries kept him out of 18 games, but Weegar is slowly developing into a reliable player the team needs as defense remains one of the team’s biggest weakpoints. His minus-three rating isn’t too bad, but could be improved upon.
F Denis Malgin – The team has gotten some output out of the 22-year-old Malgin, but the forward has failed to play more than 51 games in any of his three seasons so far with the Panthers as he has dealt with numerous injuries. Regardless, Malgin has showed some potential to put up some points, although he is never likely to be more than a third-line option at best for the Panthers. He tallied seven goals and 16 points, a little less than the 11 goals and 22 points he put up in 2017-18. While he’s shown to be a serviceable depth option for Florida, he likely will never be a 20-goal scorer.
G – Sam Montembeault – With a need for a starting goaltender and the fact that Florida traded James Reimer earlier this morning, the team doesn’t even have a legitimate backup on the roster. The 22-year-old Montembeault did get some NHL playing time this season and might be ready for a permanent back-up role. He played 11 games for the Panthers last season, posting a 3.04 GAA and a .894 save percentage. His numbers weren’t much better in Springfield, suggesting that he probably needs more seasoning, but the youngster is likely the heir apparent to the backup sometime in the future.
Other RFAs: F Anthony Greco, F Jayce Hawryluk, F Dryden Hunt, F Juho Lammikko, F Maxim Mamin, D Ian McCoshen, D Thomas Schemitsch, F Dominic Toninato
Key Unrestricted Free Agents: F Riley Sheahan – A former first-round pick with the ability to play center, the 27-year-old has now found himself with three teams already and it could be a fourth. Sheahan was acquired in February as part of the deal that saw Florida trade off Jared McCann and Nick Bjugstad, but didn’t do much to impress with the Panthers. He scored just two goals in 33 games for Florida and finished the season with nine goals and 19 points. However, the main reason that the Panthers took on Sheahan was that his contract was expiring, which the team wanted in hopes of bringing in a big-game free-agent.
Other UFAs: F Troy Brouwer, D Ludwig Bystrom, D Michael Downing, F Henrik Haapala, F Jamie McGinn, D Julian Melchiori, F Vincent Proplan,
Projected Cap Space: The Panthers currently sit a little more than $25.23MM under the cap ceiling, according to CapFriendly, which should give them plenty of maneuvering room to sign multiple big-name free agents. The team is well-known for being interested in signing both of Columbus’ top free agents in Artemi Panarin and Sergei Bobrovsky and, if the team can convince both to sign, they have ample cap room to lock up both to long-term deals. If they can only sign one, that still leaves them with Plan B options as well, although their top priority is to add a goaltender, their most desperate need.
Photo courtesy of USA Today Sports Images
Bobrovsky, Panarin Traveling To Florida To Meet With Panthers
With the NHL unrestricted free agent speaking period having opened earlier this morning, many players can begin to talk to other teams to decide what team they might want to play for next season. Two of the biggest free agents on the market, Sergei Bobrovsky and Artemi Panarin, are expected to participate immediately. The two stars are expected to arrive in Florida en route from Russia and TSN’s Bob McKenzie reports that they are expected to both meet with the Florida Panthers on Monday morning.
While the two big-named free agents from Columbus don’t necessarily come as a package, both have been speculated to end up with the Panthers. Florida has $20.48MM in cap space available, which could cover both players’ price tags, although the team also has some needs on defense as well. McKenzie also points out that while it wants to sign both players, Florida’s top priority is signing a goaltender, which means that Bobrovsky is likely the team’s top free-agent candidate.
The team still has two goalies under contract in Roberto Luongo and James Reimer, but neither goaltender played well last year. Luongo, who still has three years remaining at $4.53MM, managed to appear in 43 games despite often dealing with injuries, but finished with a 3.11 GAA and a .899 save percentage. While nothing is official, the rumor is that Luongo wants to come back as the team’s backup. Reimer, the team’s current backup, has two years remaining on his contract at $3.4MM. He struggled as well last season, posting a 3.09 GAA and a .900 save percentage. The team is working on finding a trade partner willing to take Reimer’s contract in hopes of freeing up some extra cap room to make more changes. Bobrovsky, a two-time Vezina Trophy winner, would give Florida a impact goaltender for the first time in years. The 30-year-old didn’t have his usual strong season, posting a 2.58 GAA and a .913 save percentage, but finally stepped up in the playoffs after years of struggles, picking up six wins and a .925 save percentage.
Panarin has plenty of suitors, but many have felt for more than a year that the 27-year-old scorer was interested in moving to Florida and joining the Panthers. That thought was intensified after the Panthers signed his former coach Joel Quenneville to be their new head coach. Quenneville coached Panarin for his first two years in the league when he played with the Blackhawks and the two had a good relationship. It’s hard to believe that Panarin has only been in the league for four years, but in that time, he’s tallied 116 goals and 320 points. With his young age, he’d be a perfect fit alongside players like Aleksander Barkov, Jonathan Huberdeau and Evgenii Dadonov. Panarin is also being recruited by a number of other teams, including the New York Rangers, who hope to get a shot at signing the free agent.
Erik Karlsson Re-Signs With San Jose Sharks
UPDATE: The Sharks have now officially announced the Karlsson extension and it is worth even more than previously believed. Karlsson is set to make $11.5MM on average over an eight-year term for a total of $92MM, according to CapFriendly. That includes $53MM in signing bonuses, largely front loaded in the early years for potential lockout protection, as well as in the final two years to dissuade a buyout. The contract also includes a full No-Movement Clause. There is little doubt remaining that San Jose is all in on Karlsson given these terms, which make Karlsson the highest paid defenseman in NHL history and behind only Connor McDavid and Auston Matthews overall. The Sharks simply have to hope that he can get back to full health and remain that way as long as possible, while those teams that missed out on a chance to court him this summer have to hope that the somewhat underwhelming replacement options don’t drastically increase their asking price.
It’s been an ongoing narrative early this off-season that the San Jose Sharks were willing to do whatever it takes to re-sign Erik Karlsson, after the all-world defenseman played well – when healthy – in his first season with the team. Karlsson is considered not just the top defenseman on the free agent market, but arguably the biggest name overall, and that’s taking into account his injury concerns. Few defensemen in the NHL can do what a healthy Karlsson can offensively and the 29-year-old was set to cash in on the open market. Yet, it seems that GM Doug Wilson and the Sharks have convinced Karlsson that he doesn’t need to test the waters to find a considerable contract and a winning team. TSN insider Bob McKenzie reports that “all signs are pointing” to Karlsson returning to San Jose and colleague Pierre LeBrun follows it up by stating that “a deal is indeed done.”
McKenzie is hardly the first to report that extension talks were getting close between the two sides, but when the respected hockey mind makes a pronouncement like this, it generally carries significant weight. LeBrun thus checked in himself and found previous reports that the two sides were talking about a contract in the neighborhood of Drew Doughty‘s eight-year, $88MM contract to be true. LeBrun believes that is will be an eight-year deal worth more than Doughty’s $11MM AAV. This would make Karlsson’s cap hit the third-largest in NHL history.
Unless his negotiating rights were to be traded prior to July 1st, the Sharks were always going to be the only team that could offer Karlsson that valuable eight year. However, it is likely their willingness to move into the double-digit AAV realm that pushed negotiations closer to a resolution. Especially in a season in which Karlsson missed 29 games due to injury, there was plenty of speculation that his value would take a hit on the free agent market, resulting in lesser term or at least a lower dollar value over a long-term deal. Instead, the Sharks seemingly plan to keep Karlsson in town by offering him the same contract he likely would have landed prior to this past season and hope that recent groin surgery solves the nagging soft tissue damage that cost the superstar blue liner so much time this season.
Assuming this extension becomes official shortly, it will have wide-ranging effects. San Jose cannot afford to re-sign Karlsson to this contract and also re-up restricted free agents Timo Meier and Kevin Labanc without making some sacrifices. Priority unrestricted free agents like Joe Pavelski, Joe Thornton, Gustav Nyquist, and Joonas Donskoi cannot all return if any can. Signing even one of those players may force the Sharks to move out other salary from the roster. Additionally, per the terms of the original Karlsson trade, San Jose will also surrender a 2021 second-round pick to the Ottawa Senators in exchange for extending their acquisition. As for the rest of the free agent market, one of the top names is now off the board. The demand and thus the price for the next tier of defensemen – Jake Gardiner and Tyler Myers – just went up, as did the cost of bringing in a big name like Artemi Panarin or Matt Duchene after both Karlsson and Jeff Skinner received larger contracts than expected.
The greater story here though is that the Sharks’ Stanley Cup window, which some saw as closing if Karlsson, Pavelski, and Thornton were all to leave, has now been extended with the re-signing of one of the game’s best defensemen, so long as he can stay healthy. With Karlsson, Brent Burns, and Marc-Edouard Vlasic together on the blue line for at least six more years and core forwards like Logan Couture, Evander Kane, Tomas Hertl, and soon Meier locked up, the team has strength at both ends and will continue to be a top competitor year in and year out.