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The Contract Each Team Would Most Like To Trade: Part II

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Nearly every team has one of those players: a top talent they were excited to sign and never thought could do anything but help them. In hindsight, history shows that more often than not, expensive, long-term free agent contracts don’t work out. It may look good at first (or it may look bad right away to the outside observer), but players struggle to make their value last throughout a lengthy contract. Those contracts come back to bite teams and are hard to get rid of. As teams begin to finalize their rosters at this point in the off-season, many are struggling to make everyone fit under the salary cap and are regretting these past signings that exasperate a cap crunch that can be tough for even a mistake-free club. We already took a look at the first third of the league; here are the contracts that each team would most like to trade, from Detroit to Ottawa:

Detroit Red Wings: Frans Nielsen – four years, $21MM remaining

As speculated by some readers in the comments section, it was no mistake that Part I ended with Dallas. Detroit deserved both some extra consideration and to lead off an article about poor contracts. There is an argument to be made that almost every single player age 28 and over on the Red Wings roster is signed to a bad contract for one reason or another. Detroit is a team that ranks towards the bottom of the standings and towards the top of the salary cap and that is not just bad luck. However, some are much worse than others and they are so bad that it is tough to choose between them. Take this scenario: Player A scored 35 points in 75 games last season. It was 14 points more than the season prior, including six more goals, and Player A also led the team in hits. He is 31 years old and signed for five more years at $4.25MM per. Player B scored 33 points in 79 games last season. It was eight points less than the season prior, and Player B also had the worst face-off percentage among the team’s centers. He is 34 years old and signed for four more years at $5.25MM per. Still undecided about which contract the team would rather trade? Player A is a Michigan native and career Red Wing and Player B is entering only his third year after signing a lucrative free agent contract. Player A of course is perennial whipping boy Justin Abdelkader. Yes, the Abdelkader contract is terrible. At no point in his career has he been worth his current contract value. Yet, he improved last season, is younger and brings a defensive element to his game, and is also loyal to the current administration – the call of the question after all is which contract the team would most like to trade. That would instead be Player B, Frans Nielsen, who at 34 is predictably declining and last year made more than Abdelkader for less production and there is no reason to believe that trend won’t continue. The team rewarded Adbelkader for years of service, whereas they took a gamble on Nielsen that hasn’t paid off. One of those moves is far more regrettable. Nielsen is the guy, but he only narrowly edged out Abdelkader and defenseman Danny DeKeyser, who also has relative age and Detroit roots to his advantage.

Edmonton Oilers: Milan Lucic – five years, $30MM remaining

The Oilers can refute trade rumors surrounding Milan Lucic all they want. The truth of the matter is that GM Peter Chiarelli signed Lucic hoping that he could both produce with and protect Connor McDavid in Edmonton as he did for David Krejci in Boston. The only problem is that the 30-year-old power forward can no longer keep up with a player of McDavid’s caliber. Lucic managed to score 34 points last season, tied for fourth on the team, but that is nowhere near what is expected of a $6MM player, especially when he scored 50 in year one with the Oilers and topped that mark many times with the Bruins. Edmonton still may be holding out hope that Lucic can turn it around and be just as much of a scoring threat as he is a physical threat, but make no mistake that the team would be quick to get rid of his contract if the right deal came along. In contrast, the team would be far more hesitant to move a hefty contract like defenseman Andrej Sekera who has been good and injury-prone, rather than healthy and underwhelming.

Florida Panthers: Roberto Luongo – four years, $18.13MM remaining

Florida is a tough one. Dale Tallon has done a good job of locking up his core long-term and, despite being right up against the cap, there are few egregious contracts on the roster right now. Give it a few years and maybe Michael Matheson will hold this title, but for now it goes to Roberto Luongo by default. Of course, Luongo is beloved in Florida and the team doesn’t even have to carry the whole of his cap hit, with the Vancouver Canucks retaining $800K each year. However, the reality is that Luongo will turn 40 this season and it will be only the first of four years left on his deal. The Panthers have almost $8MM committed to two goalies for the next few years and the other, James Reimer, is younger and outplayed Luongo in 2016-17 and in more games to boot. While they both fought injuries this past season, it was Luongo back on top performance-wise, but the impressive numbers he did post came in just 35 appearances versus Reimer’s 44. Florida paying over $4.5MM per year to a backup goalie in his forties just doesn’t make sense and the team would be better off moving forward with just Reimer and Michael Hutchinson if they could find a way to trade Luongo. Another reason this contract is bad: both the Panthers and Canucks will be hit with cap recapture penalties if Luongo retires prior to 2022.

Los Angeles Kings: Dustin Brown – four years, $23.5MM remaining

For the first time in years, Kings fans are feeling good about Dustin Brown. That is why now is the perfect time to trade him. Brown had been the bane of L.A.’s existence for four years, registering no more than 36 points each year while eating up $5.875MM in cap space, when he finally broke out of his funk in 2017-18 with a massive 61-point season and one of the league’s best plus/minus ratings. The question now is whether the past four years were an aberration with this season setting a new baseline or will Brown regress back to his bottom-six production. With a cap-strapped roster full of expensive contracts for older players, L.A. can’t take the risk of keeping Brown around if the right opportunity presents itself. They would be forced to trade the career King if a taker came forward rather than hold out hope that he doesn’t revert back to his old ways of being drastically overpaid.

Minnesota Wild: Zach Parise – seven years, $52.77MM remaining

When the Wild signed 28-year-old’s Zach Parise and Ryan Suter to matching 13-year contracts worth almost $100MM apiece, they knew that those deals would have dark days at some point in the future. However, they never could have imagined that Parise’s decline would come so soon. Parise remains one of the most popular players on the team, but injuries have kept him off the ice and affected his play when on the ice over the ice and his stock is falling quickly. Parise has never been able to reach the peaks he enjoyed in New Jersey, but he still produced at a high level over his first four seasons with the team. The past two years have been a different story and Parise appears to be trending in the wrong direction. Now 33, Parise isn’t totally beyond help and could turn it around. If back at 100%, Parise has enough natural ability and enough talent around him to still be a $7.5MM player. However, it would be nearly impossible for Minnesota to ever move the behemoth that is his contract so, if somehow they received an offer, they would take it without a second thought. Fan favorite or not, there is too much risk associated with Parise moving forward.

Montreal Canadiens: Shea Weber – seven years, $55MM remaining

I know what you’re thinking and yes, the Carey Price contract doesn’t look great right now. However, an extension of any length and value for any player coming off an injury-riddled season would bring a skewed perception. Price has been one of the best goalies in the league for years and one bad season doesn’t change that. Will he lose that title in the next eight years? For sure, but it would be a shock to see the Canadiens move their poster boy any time soon. Their #1 defenseman is another question though. When Montreal acquired Shea Weber for P.K. Subban, they never could have anticipated that his body would break down so soon after. Injuries cost Weber all but 26 games last season and he will miss the beginning of 2018-19 as well. Weber doesn’t seem like the type of player who will retire early, but there is no guarantee that these injuries won’t slow him down significantly for the remainder of his contract. In fact, the only guarantee is that he will slow down over the next seven years. At $7.86MM, the Canadiens need Weber to be his dynamic two-way self. The team already has one overpaid stay-at-home defenseman in Karl Alzner and can’t afford another. If they could move Weber, they would.

Nashville Predators: None

GM David Poile flat out doesn’t sign bad contracts. Criticize the deals for Ryan Johansen and Kyle Turris if you like, but the bargain contracts throughout the rest of the lineup have allowed Poile to overpay for reliable centers and that is a team-building model that anyone can get behind.

New Jersey Devils: Corey Schneider – four years, $24MM remaining

The easy answer is that the Devils don’t feel any pressure to trade anyone on the roster. They currently have the lowest payroll in the league with nearly every player signed to a fair deal. Those who are overpriced – Travis Zajac and Andy Greene – play important leadership role and the only player signed to a substantially long-term deal is electric young blue liner Damon Severson. The one and only player that sticks out as a potential long-term cap problem is starting goaltender Corey Schneider. This may surprises some; after all Schneider trails only Tuukka Rask among active save percentage leaders. Schneider had been elite since arriving in New Jersey, but something started to change in 2016-17. His SV% fell to .908 and his GAA inflated to 2.82 and then things only got worse last season with a SV% of .907 and a GAA of 2.93. He was also limited to just 40 appearances this year and was outplayed by journeyman Keith Kinkaid. The Devils can’t count on Kinkaid to repeat his 2017-18 performance moving forward and if Schneider’s back-to-back bad years are more than a fluke, they can’t depend on him for four more years either. He’s not going to be a $6MM backup either. New Jersey will give Schneider the time he needs to return to form, but they may not hesitate if the right trade comes their way as well.

New York Islanders: Andrew Ladd – five years, $27.5MM remaining

The Islanders without John Tavares are a totally different animal. A six-year, $30MM extension for Josh Bailey now looks bad. A $5.75MM cap hit this season for free agents Leo Komarov and Valtteri Filppula signed to make up for Tavares’ lost production looks bad. The likes of Cal Clutterbuck, Casey Cizikas, and Matt Martin now look worse on a team that needs more offense and less grit. However, the one contract that looked miserable well before Tavares bolted to Toronto is Andrew Ladd and it is only going to get much worse. The veteran forward was intended to find chemistry with Tavares when he was signed to a seven-year, $38.5MM contract two years ago. Instead, Ladd has just 60 points over the past two seasons combined and has by all accounts been relegated to a bottom-six role. The 32-year-old will now be asked to take a bigger role in Tavares’ stead and that is a scary proposition. The Islanders aren’t in any cap trouble, but the team should be thinking rebuild and would likely take any offer at all to rid themselves of Ladd.

New York Rangers: Brendan Smith – three years, $13.05MM remaining

Has any free agent contract in recent memory soured as quickly as Brendan Smith’s? Smith signed a four-year deal with the Rangers last June and was expected to play a top-four role for the team for years to come. By February, he had been placed on waivers and buried in the AHL. Smith played in only 44 games with New York and saw less and less ice time as the season wore on and he continued to turn the puck over at an alarming rate and cost his team goals. Now what? One would assume that Smith will be given a second chance this season, but the relationship between he and the team may be beyond repair. There is no doubt that the Rangers would take a re-do on that deal and would move him if possible. Marc Staal is another player that New York wouldn’t mind moving, but as a player who can eat minutes and provide solid play most of the time, his $5.7MM contract seems like nothing next to Smith’s $4.35MM deal.

Ottawa Senators: Bobby Ryan – four years, $29MM remaining

No contract in the league has become as notorious for being labeled a “bad deal” that the team is desperate to trade like Bobby Ryan’s. The Senators are so determined to move on from Ryan that they are trying to force Erik Karlsson trade suitors to take the overpaid forward as well. At one point in time, $7.25MM per year for Ryan seemed like a fair deal. At 23 years old he was a 71-point player with the Anaheim Ducks and even after moving to Ottawa, Ryan started his tenure with three straight seasons in the 50-point range. However, the last two years have been very different. Ryan has only suited up for 62 games in each campaign and has looked like a different player on offense. At his best, he looks disinterested and lucky to be in the right place at the right time and at his worst he costs his team goals. Ryan has managed to register only 58 points combined over the past two years; he had 56 alone in 2015-16. Ryan may just need a change of scenery to jump start what used to be dynamic goal-scoring game, but the Senators don’t care about that. All he is to them is a waste of cap space and of owner Eugene Melnyk’s dwindling wealth. They want him gone at any cost.

Look out for Part III of this three-part series early next week…

 

Pacific Notes: Neal, Montour, Brickley, Reaves

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The Calgary Flames have been extremely active this offseason after last year’s second-half collapse. The team went out and traded defenseman Dougie Hamilton for a pair of younger talents in Noah Hanifin and Elias Lindholm. They also added center depth with the addition of Derek Ryan. However, the key addition was the signing of veteran goal scorer James Neal.

The Athletic’s Kent Wilson (subscription required) looks into the five-year contract that Neal received, which was worth $28.75MM. At 31 years old, the Flames are taking a big risk that the deal will eventually drag the team’s salary cap situation down when he no longer is productive. However, with the Vegas Golden Knights as well as other teams moving up the Pacific Division race, Calgary feels that a goal scorer who has tallied at least 20 goals for the past 10 seasons is worth the risk as well as the fact that Neal has a history of making the players around him better.

  • Eric Stephens of The Athletic reports that Anaheim Ducks general manager Bob Murray told season ticket holders today that he is flying to Toronto for defenseman Brandon Montour’s arbitration hearing, which is scheduled for Tuesday. However, Murray said he is interested in locking up his 24-year-old blueliner to a bridge deal before that, if possible. The two sides gave up on a long-term extension and are hoping to come to an agreement before the hearing. Montour is an interesting case as he has only played for one and a half seasons for Anaheim, but already has arbitration rights, which makes this a more challenging deal to get completed.
  • The Los Angeles Kings will be in desperate need for blueline depth this season and they have high hopes in Minnesota State University-Mankato star Daniel Brickley. The Athletic’s Josh Cooper (subscription required) writes that the 23-year-old defenseman has taken an unusual route to get to the NHL, but might be heavily needed this coming year with no veterans signed for depth purposes. He signed with the Kings in March and with his size (6-foot-3, 203 pounds) and abilities (95 mph shot), he has a good chance to make the team, which is quite possible as the team is known for taking talent and inserting it into their lineup immediately. Last season, the Kings placed forward Alex Iafallo on the first line for a large chunk of the season.
  • Ken Boehlke of the SinBin writes that enforcer Ryan Reaves, who procured a two-year, $5.55MM deal, played a great game of poker with the Vegas Golden Knights this offseason when the team gave him three years of money, but with only a two-year term. While the deal gives Vegas more flexibility with just a two-year term and the fact that they have extra money after not acquiring Erik Karlsson and Bobby Ryan in a big offseason trade, the move doesn’t look so bad, but Reaves made the most out of his situation. He was evidently offered a one or two year deal after the season, but Reaves believed he could garner a three or four year deal. A team offered the 6-foot-1, 225-pounder a three year deal and Vegas general manager George McPhee offered equal value, but refused to go past two years, eventually adding the third year in money, but not in term. Regardless, it was a well-played hand by Reaves.

Salary Cap Floor Should Not Pose Problems For Any Team In 2018-19

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The purpose of the salary cap in the NHL is to maintain a sense of competitive balance across the league. That means both limiting how much a team can spend, the salary cap ceiling, but also ensuring that every team is competitive with a minimum expenditure, the salary cap floor. Some teams, generally those in smaller markets or undergoing rebuilds, tend to try to toe the line of the salary cap floor, paying as close to the minimum as possible for their roster. In years past, some teams have even struggled to hit that mark, taking on injured players or overpaying players in order to pass the floor. It’s unlikely that any of the 31 franchises will face that problem in 2018-19.

This season, with a corresponding jump in the salary cap ceiling, the floor moved to $58.8MM. With the bulk of unrestricted free agency accounted for, just three teams currently sit below that mark: the New Jersey Devils, New York Rangers, and Winnipeg Jets. However, both the Rangers and Jets can immediately be crossed off as a salary floor concern. The pair are perhaps the two teams with the most potential salary tied up in salary arbitration this off-season.

The Jets currently have the lowest projected payroll in the league, with a 16-man roster that accounts for approximately $52.7MM. However, Winnipeg’s list of restricted free agents who have filed for arbitration include Vezina candidate Connor Hellebuyck, defenseman Jacob Trouba, and forwards Adam Lowry, Chris Tanev, and Marko Dano, as well as defenseman Tucker Poolman who did not file. Those six players could easily combine for more than $20MM in combined salary when all is said and done, putting the Jets well clear of the floor and closer to the ceiling. Defenseman Josh Morrissey, who is not arbitration eligible also needs a new contract. Winnipeg is far from a floor concern.

In New York, the Rangers sit at $55.8MM in projected cap committed to 16 players, just $3MM shy of the floor. They also need to re-sign a majority of their young core, with forwards Kevin Hayes, Ryan Spooner, and Jimmy Vesey and defenseman Brady Skjei having filed for arbitration. The Rangers could pass the floor by extending just one of those players, nevertheless all four. New deals for those three forwards still leaves New York one or two shy of a full roster as well, meaning more salary will come into the fold via promotion or an additional acquisition.

As for the Devils, New Jersey is already close to the floor at a projected $56.4MM for 19 players. Forwards Blake Coleman and Stefan Noesen have filed for arbitration and the deals for both could be enough to push the Devils to where they need to be. Even if it doesn’t, the team will still need to sign non-arbitration eligible RFA’s Miles Wood and Steve Santini, whose deals should definitely be enough. New Jersey will likely be a team that hovers close to the floor next season; that didn’t stop them from making the playoffs in 2017-18, though.

Perhaps the only team who should be legitimately concerned about the salary cap floor next season in Ottawa. The Senators and owner Eugene Melnyk have made it no secret that they are trying to shed salary and come in as close to the minimum as possible. Right now, the team sits just $3MM above the floor at a projected $61.8MM roster for 20 players. However, that isn’t including the arbitration resolutions for both defenseman Cody Ceci and forward Mark Stone. Those two deals will put Ottawa well above the floor. Even if the team was to trade star defenseman Erik Karlsson, they should remain above the floor, especially with additional salaries likely to be added in the trade return. The one scenario in which Melnyk could succeed in dropping significant salary would be if both Karlsson and Bobby Ryan were to be traded away. The resulting $13.75MM loss in payable salary would more than offset the contracts for Stone and Ceci and likely the contracts of those players coming back as well, potentially dropping the team below $58.8MM. Yet, even in that case, the Senators’ efforts to fill out their roster after losing Karlsson and Ryan – either by promotion or acquisition – could easily be used to get back to that mark.

The salary cap floor was never intended to be used as a target for teams to hover above and spend as little as possible. The goal of the NHL is have each and every team be competitive, not simply trying to maximize profits. As such, the 2018-19 season has some parity promise as seemingly no team will struggle to get over the floor or have to use contracts for the old and injured to get there. For the first time in years, every team seems set to be competitive and comfortably over the minimum cap hit.

All cap figures are courtesy of CapFriendly.com.

Metropolitan Notes: Johnson, Myers, Rangers

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While defensemen have been receiving big deals in the last week or two, one deal that caught many by surprise was the five-year, $16.25MM deal that Jack Johnson signed with the Pittsburgh Penguins signed on July 1. While Johnson was a highly-touted prospect at one time and developed into a solid NHL veteran, the five-year term seemed like a lot considering that the 31-year-old had lost his job at the end of the season with the Columbus Blue Jackets and instead took up a role as a healthy scratch for the remainder of the season and the playoffs. Johnson finished the year posting

Regardless, Penguins general manager Jim Rutherford had coaches’ Mike Sullivan and Sergei Gonchar look into the three games leading up to Johnson’s benching and they walked away with a positive impression and the team signed the veteran.

The Athletic’s Jesse Marshall (subscription required) took a look at the three games before Johnson was benched and analyzes and breaks down the veteran’s play, citing that his performance was solid, but underwhelming and while the defenseman did have some bad luck at times, what stood out the most was his lack of involvement in the team’s offense as he seems to only have been focusing on his defensive game, which might be exactly what Rutherford and the Penguins want out of Johnson.

  • Charlie O’Connor of The Athletic (subscription required) writes that the Philadelphia Flyers’ signing of Christian Folin almost guarantees that defensive prospect Philippe Myers will begin the season with the AHL Lehigh Valley Phantoms. The 21-year-old undrafted free agent had a solid rookie season with the Phantoms last season and was expected to get a “long look” in Flyers training camp in September. However, with six quality NHL established defenseman already on the roster (not counting the injured Samuel Morin), Myers would have to beat one of them out to make the team. General manager Ron Hextall wouldn’t allow Myers to make the team as the team’s seventh defenseman when he could return to Lehigh Valley and get valuable playing experience. So, while many were upset that the team went out and signed Folin, it’s likely that Folin will man that extra defenseman role instead.
  • The New York Rangers have been talked about as a potential third-team in any deal involving Erik Karlsson. The team has $23.7MM in cap room to work with and with the team in a quick rebuild, this would be the perfect time to add more picks or prospects to that effort. While the team might be open to acquiring Ryan Callahan from Tampa Bay, The Athletic’s Rick Carpiniello (subscription required) writes that the team will not take on the contract of veteran Bobby Ryan, who still has four years at $7.25MM remaining on his deal. He writes that the Rangers don’t believe they will still be rebuilding in three or four years and being burdened by that deal down the road wouldn’t make any sense.

Erik Karlsson Trade Talks Have Stalled

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Over the past few days, it seemed like a trade for all-world defenseman Erik Karlsson was imminent. Originally, the Dallas Stars were confirmed to be the leader in the race and deep in talks with the Ottawa Senators on a deal for Karlsson. Not long after, it was the Tampa Bay Lightning who had reportedly pulled ahead and had a deal in place with Ottawa that simply required a third team to take on salary. Some even stated that a deal was done pending a trade call, a rumor that obviously lacked reliability. Karlsson remains a Senator and it now seems like a trade is not coming as quickly as expected.

The Athletic’s Joe Smith, who has had his finger on the pulse of the Lightning’s trade talks, is no longer optimistic about a deal getting done. Smith writes that a deal for Karlsson should not be expected any time soon and that nothing is “imminent or close”. Smith admits that a trade could still work out between Ottawa and Tampa, but it’s no longer the foregone conclusion that some had perceived. Meanwhile the Stars are rumored to have fallen out of favor when they refused to include star blue line prospect Miro Heiskanen in a deal for Karlsson. Sportsnet’s John Shannon believes that the Stars still have a chance to land Karlsson, but it seems that Dallas’ chances depend on whether or not they can be flexible with their offer.

The Senators now have a feel for the market and should be able to work out a fair value for Karlsson soon. However, what isn’t so easy is accommodating their insistence on also sending away Bobby Ryan and his $7.25MM cap hit over four years remaining on his contract. Sportsnet’s Chris Johnston reports today that this is the exact reason that finding a trade partner and working out the details of a deal could prove difficult. A three-team deal, like the one contemplated by Ottawa and Tampa Bay, is the most likely outcome for a Karlsson trade, but such deals don’t develop overnight. A trade could still be a ways away – The Athletic’s Chris Stevenson says that the Lightning, Stars, and Vegas Golden Knights all remain in the running – but Stevenson also says that nothing is close as the Senators have “retrenched” and the suitors are playing hardball. It seems that whichever team is able to up the ante on their offer and also be creative in managing several major contracts will be the team to land Karlsson and change the face of their franchise.

Tampa Bay, Ottawa Seeking Third Team To Facilitate Erik Karlsson Trade

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6:03 PM: TSN’s Darren Dreger reports (Twitter link) that the Rangers are a team that could potentially be involved as the cap facilitator.  Meanwhile, Joe Smith of The Athletic adds (via Twitter) that winger Ryan Callahan is in play for this move.  He has a 16-team trade list.

3:28 PM: The rumor mill has been working overtime this morning on a potential Ottawa Senators-Tampa Bay Lightning trade revolving around superstar defenseman Erik Karlsson, and now Travis Yost of TSN tweets that the teams are in the process of trying to find a third party to facilitate the deal, as balancing salaries is a key part of any transaction of this magnitude. Karlsson is expected to only be traded to a team if a contract extension can be worked out, while the Lightning are not expected to be one of the teams willing to eat Bobby Ryan’s contract. That contract could be exactly why the third team needs to be involved, though Tampa Bay themselves would likely need to move out contracts to fit in a Karlsson extension.

Remember that nothing is final at this point, and since the stakes in any potential blockbuster Karlsson trade are so high things can change at any moment. Just two days ago the Dallas Stars were considered the clear front runners, though now everything seems to be pointing towards the Lightning.

Karlsson is reportedly looking for a contract extension similar to the eight-year, $88MM deal that Drew Doughty recently signed, which would put any team in a financial bind. The Lightning, who know their way around superstar contracts, could potentially fit him in since they’ve inked their other top players to reasonable extensions the last few years. Steven Stamkos ($8.5MM AAV), Victor Hedman ($7.875MM) and Ryan McDonagh ($6.75MM) have all signed relatively team-friendly deals instead of going to free agency, and though the team still needs to sign Nikita Kucherov to a mega-deal, they even have some cap space remaining for the upcoming season.

There are obvious candidates for the Lightning to move to clear more room. Ryan Callahan ($5.8MM), Tyler Johnson ($5.0MM), Alex Killorn ($4.45MM) are all expendable long-term contracts given the emergence of several young players, while Anton Stralman ($4.5MM), Braydon Coburn ($3.7MM) and Dan Girardi ($3.0MM) are defensemen on expiring contracts who could be moved out given Karlsson’s impact on the blue line. The superstar defenseman only costs $6.5MM this season, meaning jettisoning just one of the above players would give the team enough cap space to acquire him.

Remember that teams during the offseason can go up to 10%, or $7.95MM, over the salary cap ceiling but must be compliant again by the beginning of the season. Even if Tampa Bay doesn’t find a taker for one of their contracts, they could still potentially acquire Karlsson only to find a way to get under the cap ceiling by the beginning of the year.

Dallas Stars Leading Chase For Erik Karlsson

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After the Ottawa Senators offered superstar defenseman Erik Karlsson a contract that was not well-received, the team gave interested competitors the permission to speak to him about contract terms. NBC Sports’ Kathryn Tappen reported that the Senators’ offer was for eight years at $10MM per season, an amazing amount of money to a layperson but truthfully an insult to Karlsson in light of recent contracts signed by Drew Doughty and John Tavares. As such, Tappen and others have added that other teams are now in hot pursuit and serious trade talks are underway.

As of this evening, the leader in those talks are the Dallas Stars. The Athletic’s Chris Stevenson has heard from a source in the NHL that the Stars have emerged as a front runner for Karlsson and that Dallas and Ottawa are deep in talks about a trade that would include the Norris Trophy winner but not overpaid forward Bobby Ryan, a major hindrance in many teams’ acquisition plans. Stevenson is based in Ottawa and is allegedly close to the Senators and his The Athletic colleague in Dallas, Sean Shapiro, says that he has also heard that the Stars are legitimately interested and that a hypothetical deal is a real possibility.

Immediately, the question is what the potential return for the Senators could be that would both pry Karlsson out of Ottawa but also keep Ryan there. Shapiro believes that any deal for Karlsson would have to include young defenseman Julius Honka, while Ottawa may actually prefer a more established name like Esa Lindell. It would also make sense for the Sens to target the Stars top blue line prospect, 2017 third overall pick Miro Heiskanen. Others who could be part of the package include young two-way centers Radek Faksa or Devin Shore, recently re-acquired winger Valeri Nichushkin, and project forward Riley Tufte. While only time will tell if a trade is completed and what the pieces will be, this is the first time that any specific team has been confirmed to be in real trade talks for Karlsson and it now seems like only a matter of time before the all-word defender is traded, to Dallas or elsewhere.

Ottawa Offers Erik Karlsson Contract Extension

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The Ottawa Senators kept to their word Sunday as the team offered superstar defenseman Erik Karlsson a contract extension, according to NHL.com’s David Satriano. Terms of the extension offer were not disclosed. Despite the rumors of unhappiness with the ownership and his not willing to accept a “hometown” discount that has led to quite a bit of trade speculation over the past six months, general manager Pierre Dorion said the team had to make one final effort to keep Karlsson in the fold.

“We don’t really want to talk about roster players, contract negotiations, trades, all these things, but I think we owe it to our fans and we made a promise at the town hall that we would make a contract offer to Erik Karlsson and we’ve done so,” Dorion said Sunday.

Karlsson is in the last year of a seven-year, $45.5MM deal that he signed in 2012, which looks like a bargain as his AAV sits at just $6.5MM. However, with the sudden increase in salaries for star defenseman having increased, it’s likely that a new Karlsson deal will break the bank. Several defenseman have cashed in over the past few days, including Drew Doughty (eight years, $88MM, $11MM AAV), Oliver Ekman-Larsson (eight years, $66MM, $8.25MM AAV) and John Carlson (eight years, $64MM, $8MM AAV).

With increased trade rumors over the past week, there still hasn’t been a trade yet. The team has made it clear to teams that they are asking for a big return for their superstar center and have made it even more challenging for teams as they want the team also to take on the contract of Bobby Ryan, which still has four year left at $7.25MM. The Vegas Golden Knights have been the most talked about team since the trade deadline to get a deal done and they still could, but nothing has materialized yet. The Senators still have hope that Karlsson will sign an extension.

“I think Erik wants to be a Senator for life,” Dorion said then. “I don’t want to speak for him, I’ll let him speak for himself. We’ll see what the next few months bring, but if Erik Karlsson is here on July 1, we will be making him a contract offer.”

Eastern Notes: Tavares, O’Reilly, Ryan, Pickard

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With the John Tavares watch about to hit the 11th hour before free agency hits, The Athletic’s Arthur Staple reminds people that the superstar center doesn’t have to make a decision today. He can wait to make a decision later. However, the longer he waits, the more telling his decision will be.

If he opts not to agree to a contract tonight, then the New York Islanders are almost guaranteed to be out of the running for Tavares as even the Islanders can’t offer an eighth year after tonight. If all New York can offer is seven years, then it’s highly unlikely he’ll return to New York.

The other implication to not choosing a team today is that many teams are waiting for Tavares to make a decision as well as players. The dominos will begin to fall after Tavares signs, so the longer Tavares waits, the more the market will be held up. For example, Toronto, who has dubbed center Derek Ryan as their consolation prize if the can’t sign Tavares, according to The Athletic’s James Mirtle (subscription required), must force the highly-coveted Ryan to wait. That’s also the case with trade candidates such as Jeff Skinner and likely Ryan O’Reilly as their value is likely to shoot up once Tavares is off the board.

  • It looks the O’Reilly sweepstakes are even more muddled than ever as many felt that if the Buffalo Sabres were to trade away their star center, it would be before the Sabres would have to fork over his $7.5MM signing bonus which is due at midnight tonight. If no deal is made within the next few hours, then the situation can go two different ways, according to Mike Harrington of The Buffalo News. The most likely scenario would suggest that if they pay him the $7.5MM themselves, the plan would be to keep O’Reilly and hope that he wants to stay with the team. However, Harrington also adds that perhaps Buffalo is willing to eat the $7.5MM to get a greater package in return from a team with the possibility that a trade has already been worked out and they are both waiting for July 1. The scribe adds that the two teams who have most coveted O’Reilly are the Montreal Canadiens and the St. Louis Blues. However, the Blues are not offering their top prospect, Robert Thomas, as part of any trade.
  • While many teams believe that the holdup of a potential Erik Karlsson trade is being held up because of the $2MM bonus due to forward Bobby Ryan on July 1, that is not correct, according to Ottawa Sun’s Bruce Garrioch. The scribe writes that Ryan and the four years and $29MM remaining on his contract, which are expected to be included in any Karlsson deal, already received his $2MM bonus on May 15, which means he will only cost a team $5.5MM next season.
  • Sean Shapiro of The Athletic writes that many teams are looking for cheap backup goalie options and suggests that Toronto Maple Leafs’ Calvin Pickard could quickly find himself in high demand. Pickard, who was a solid backup for the Colorado Avalanche during the 2016-17 season, found himself in an odd position after being taken in last year’s expansion draft by the Vegas Golden Knights and then traded off to Toronto to share AHL goaltending duties with Garret Sparks. Together they helped clinch the Calder Cup Trophy as he finished with a 2.31 GAA and a .918 save percentage. Backing up Sparks during the AHL playoffs, Pickard got into three games, putting up a 1.00 GAA and a .956 save percentage.

Snapshots: Karlsson, Thornton, Talbot, Brodziak

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While the free agent market is slimming more and more after John Carlson opted to re-sign with the Washington Capitals, the trade market has barely gotten active as teams wait to see how the free agent market shakes out. Regardless that could change in the next few days. While there were a few trades this weekend during the draft, one name that stayed put is Ottawa Senators’ defenseman Erik Karlsson.

According to Bruce Garrioch of the Ottawa Sun, general manager Pierre Dorion was fielding phone calls all the way up to the Senators picked at No. 4, but still hasn’t found the right deal as he’s looking for a big haul of players and picks considering that Karlsson is a franchise player.

As expected, Garrioch writes that the Vegas Golden Knights were at the forefront in trying to make a deal and Vegas was prepared to take the contract of Bobby Ryan, who still has four years at $7.25MM AAV remaining on his contract, but other teams are also trying to get into the Karlsson sweepstakes, including the Carolina Hurricanes, Tampa Bay Lightning, San Jose Sharks and the Washington Capitals. No word on whether the other teams are willing to take on Ryan’s contract. While the Capitals are likely out of the running now that they’ve signed Carlson, the Carlson signing may force other teams to press harder to acquire Karlsson.

  • David Pagnotta of The Fourth Period reports that there is mutual interest between Joe Thornton and the San Jose Sharks to return to the team, regardless of whether the team signs John Tavares or not. Thornton, who suffered a season-ending torn MCL in January, would have to come back at a lower salary than the $8MM he made last year, but at 38 years old, he can still be a productive player even if he is forced to play on a lower line. Thornton put up 13 goals and 23 assists in 47 games, but “Jumbo Joe” is well past the days of putting up 82 points in 2015-16.
  • Pagnotta also commented on Edmonton Oilers goaltender Cam Talbot as he says both the Oilers and Talbot have agreed to hold off on extension talks until the start of the new season. The 30-year-old Talbot had been a major piece to the team’s success up until this past year. After posting 2.39 GAA and a .919 save percentage two years ago, he struggled this season, posting a 3.02 GAA and a .908 save percentage. The team likely wants to ensure that Talbot bounces back to form before offering him an extension.
  • Jeremy Rutherford of The Athletic writes that the St. Louis Blues and center Kyle Brodziak both have interest in an extension. The 34-year-old center put up his best season since 2011-12 as a fourth-line center. He tallied 10 goals and 33 points last season. While the Blues have bigger concerns at the moment, Rutherford points out that neither party is in a big rush.

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