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Florida Panthers Buy Out Keith Yandle

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The Florida Panthers are cutting ties with a veteran defenseman, as the team has bought out Keith Yandle. Because Yandle has a no-movement clause, he will not require unconditional waivers, meaning the buyout process can move forward immediately. With two years left on his contract the Panthers will carry a cap penalty of the following:

  • 2021-22: $2,341,667
  • 2022-23: $5,391,667
  • 2023-24: $1,241,667
  • 2024-25: $1,241,667

In actual salary, Yandle will earn just over $1.24MM each year. The move gives the Panthers cap savings of just over $4MM this season as Yandle’s deal carried an average annual value of $6.35MM. That provides them with a good bit of room this year, but it’s a pretty hefty dead cap hit to deal with in 2022-23. GM Bill Zito released a statement:

We would like to extend a sincere thank you to Keith for all that he’s contributed to the Florida Panthers organization and to the South Florida community over the past five seasons. While a decision of this kind is never an easy one to make, we believe that this shift is necessary as we look towards the 2021-22 season and our club’s future.

Yandle, 34, was on the edge of the lineup for the Panthers even though he played in all 56 games this season. There was talk in training camp that he would be scratched to start the year, which would have ended his ironman streak of not missing a game in over a decade. With a buyout, Yandle should be able to continue the streak, which is now sitting at 922 games, the second-longest streak of all time (Doug Jarvis, 964).

If postseason games were counted in that streak, it would have already ended, as Yandle played just three of the Panthers games against the Tampa Bay Lightning this year. Despite still being an effective powerplay quarterback and offense play-driving defenseman, his consistency in the defensive end has obviously not pleased the coaching staff or the front office. They’ll cut ties with him now in order to save a little money this year, but will be paying nearly $5.4MM for Yandle to not play for them in 2022-23.

That’s another veteran defenseman hitting the market after a buyout, following the news out of Minnesota earlier this week. Even though the Panthers didn’t believe he could help them anymore, Yandle should immediately have a market from teams looking for a third-pairing/powerplay option. With 600 points in 1,032 NHL games, there’s certainly no lack of experience in the veteran defenseman.

Elliotte Friedman of Sportsnet broke the news on Twitter that Yandle would be bought out.

Edmonton Oilers Acquire Duncan Keith From Chicago Blackhawks

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The Chicago Blackhawks and Edmonton Oilers have been working on a Duncan Keith trade for the past few weeks, and after a lengthy day of reports, the trade is final. Darren Dreger of TSN reports that the deal is complete, with the Blackhawks receiving Caleb Jones and a third-round pick. No salary was retained by Chicago. Mark Spector of Sportsnet reports that at one point in the talks, the Oilers tried to include Mikko Koskinen in order to clear some cap space, but he is not involved in the final deal. TSN’s Pierre LeBrun finally reported that Blackhawks prospect Tim Soderlund is headed to Edmonton as well. He also notes that the third-round pick is in 2022 and that it could turn into a second-round pick if Edmonton wins three rounds in the 2022 Stanley Cup Playoffs, and Keith is top-four among Edmonton defensemen in terms of ice time.

The veteran defenseman told Chicago last month that he wanted to go to the Pacific Northwest or Western Canada in any deal to be closer to his home in British Columbia. Moving Keith before the expansion deadline would allow the Blackhawks to protect an extra defenseman, something that seems absolutely necessary given their situation at this point.

Keith, 37, has two years remaining on his contract and carries a $5.54MM cap hit. The legendary defenseman will go down as one of the best to ever play for the Blackhawks, helping them to three Stanley Cup championships and suiting up more than 1,300 times. Keith has played more regular-season games than any other defenseman in Blackhawks history and trails only Stan Mikita for the overall lead. His 625 points during that time trail only Doug Wilson among Blackhawks defensemen.

Of course, his play has deteriorated some over the past few seasons, meaning the Oilers won’t be getting the same player that enjoyed so much success in Chicago. Keith will turn 38 on Friday and recorded a career-low 15 points in 2020-21. There’s little doubt that he can still play at the NHL level, but it’s hard to know exactly what Edmonton will be getting from the veteran. With that uncertainty, it seems likely that they would have been asking for the Blackhawks to retain at least a portion of his salary, though it did not occur.

The Oilers actually do have a little bit of cap room to play with this offseason, but that’s mostly thanks to so many players hitting unrestricted free agency. Tyson Barrie and Adam Larsson are pending UFAs, while Darnell Nurse, Ethan Bear, and Kris Russell are only signed through the 2021-22 season. That would mean Keith is coming aboard with the longest term left on the back end, matching the injured Oscar Klefbom’s remaining two years. If it goes badly, the team is at least in a position to restructure their finances moving forward, though extensions for Larsson and Nurse could complicate those matters.

For Chicago, adding Jones is certainly an interesting factor, given their apparent interest in his brother Seth Jones who is also on the trade market. Even without a trade of that magnitude, moving Keith out will allow more opportunity for their other young defensemen and start the transition to the next wave of talent in the organization. Even at his age, Keith was still given more than 23 minutes a night, ice time that can be spread out among the team’s other options moving forward. Receiving some cap relief and a draft pick will also benefit the Blackhawks moving forward as they try to bridge the gap from their aging championship core to a new contending group.

Edmonton has struggled to find any playoff success during the Connor McDavid years, so bringing in Keith will certainly provide an experienced voice for the Oilers captain to lean on in the postseason. Whether that previous playoff success actually helps Edmonton find some in the future is certainly still to be seen, given Keith’s Blackhawks haven’t made it past the first round since 2015.

Remember, as with any trade in the coming days, there are expansion draft complications. While the Blackhawks will get an extra spot, Keith will now require protection by the Oilers thanks to a no-movement clause that will be carried over. Even with Jones going the other way and Larsson not yet signed, the team will likely now have to leave Klefbom exposed and hope the Kraken are scared off by his injury situation. Nurse and Ethan Bear would be the other two protection spots, unless a Larsson extension comes before the draft.

Photo courtesy of USA Today Sports Images

Flyers To Expose Jakub Voracek In NHL Expansion Draft

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The Philadelphia Flyers and longtime franchise standout Jakub Voracek are heading for an interesting off-season. The two sides are at a cross roads with the Flyers hoping to improve and get back to the playoffs, but with limited salary cap space to do so. The team currently has just 14 players signed to one-way contracts for next season, but at a sum of $64.78MM, leaving them with only $16.72MM to add nine more players to the roster, including re-signing several key restricted free agents and ideally adding a top-four defenseman and reliable goaltender. The math doesn’t quite add up and Voracek’s $8.25MM AAV over three more seasons does not help. Voracek’s production is still strong, but has been in decline since a career year in 2017-18 and is currently not at the level expected given his lofty salary. According to Sportsnet’s Elliotte Friedman, the relationship between the club and the soon-to-be 32-year-old winger are “not acrimonious”, as the two sides agree that a change of scenery may be in the best interest of both.

In order to accomplish that separation, the Flyers are not above giving Voracek away. Friedman writes that the veteran has been informed that he will be exposed in the upcoming NHL Expansion Draft, giving the Seattle Kraken the first shot at adding the former All-Star. This has been speculated by many given both the Flyers’ cap concerns but also their depth at forward. With at least forwards that deserve consideration for protection, including Voracek, and only a maximum of seven protection slots up front, Philadelphia will have to make some difficult calls. Exposing Voracek is confirmed to be one of them. While the cap commitment is an obstacle, Voracek has averaged close to 20 goals and 65 points at a full-season pace for the past dozen years and can still be a top-six forward for the right team. Losing an asset like that for nothing could be a difficult, but necessary move for the Flyers. The Kraken meanwhile have some incentive to take high-priced players, as they must hit a salary minimum in the Expansion Draft. While a number of expensive contracts will be available, Seattle head coach Dave Hakstol, the former head coach of the Flyers during some of Voracek’s best seasons, could be keen to bring in his former star.

[RELATED – Expansion Primer: Philadelphia Flyers]

Of course, the Kraken will have other options from Philadelphia as well, quite possibly even another high-priced but valuable scorer in James van Riemsdyk, as well as some young forwards and affordable defensemen. If they opt not to select Voracek, Friedman notes that the Flyers will move on and begin trade talks with other teams (if they haven’t already). While they won’t get fair market value for the accomplished scorer given their well-established cap issues, they will at least have a chance to get something back for Voracek in a trade as opposed to Expansion Draft selection.

If however, they can’t find a trade that they feel is fair, Friedman also notes that the two sides have an understanding that he may stay put and appear to be okay with that outcome, although it would leave the Flyers with a cap headache still to solve. With multiple potential outcomes, this summer could be a rollercoaster for Philadelphia and Voracek, but his old coach and the league’s newest team have the option of making it a short ride.

Los Angeles Kings Acquire Viktor Arvidsson

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The NHL trade market has been slow to this point, with many teams wary of making big moves that could upset their plans ahead of the Expansion Draft later this month.  However, a move was made today as Nashville announced that they have dealt scoring winger Viktor Arvidsson to Los Angeles. The Predators will receive L.A.’s 2021 second-round pick, No. 40 overall, and a 2022 third-round pick. Though the deal may lack excitement with none of the Kings’ high profile prospects going the other way, it is a solid return for Nashville, who need to restock their system. According to The Athletic’s draft pick value chart, the Kings’ second-rounder this year plus a presumptive top-half third-rounder next year is equivalent to a late first-round pick.

Arvidsson, 28, has cracked 30 goals and 60 points twice in his six-year NHL career, showing dangerous scoring ability. Even as his numbers have tailed off the past two seasons, he has maintained a half-point per-game scoring mark in all five of his full NHL seasons. It is also worth noting that his 6.6% shooting percentage this season was an extreme deviation from his career average. Positive regression likely means that more goals are on the way. Arvidsson is more than just his scoring totals, too. The undersized, but hard-working wing plays big minutes, contributes to both the power play and penalty kill, and is an excellent possession player.

[Related: Expansion Primers – Los Angeles Kings and Nashville Predators]

With all that said, Nashville was not wrong to be shopping Arvidsson. At times this past season, he seemed too passive and uninvolved. While he has still put up solid top-six numbers, the Predators have been relying on him as a top-line scorer and he has fallen short. It seems that both sides will benefit from this change of scenery. Nashville will certainly benefit from the expansion flexibility, cap space, and draft pick capital as they look to get back into Stanley Cup contender status after some up-and-down years.

As for the Kings, this is exactly what GM Rob Blake and company have promised their veteran core. The team plans to add established talent this year to help take their young team to the next level and to give their long-time centerpieces another chance to win. In a new place with and with a fresh group of teammates, Arvidsson could easily return to elite production. They had draft picks they could afford to move, the Expansion Draft slot to spare, and a desire to win and now they have a capable veteran in the fold as they look to get back into playoff contention.

Sportsnet’s Elliotte Friedman was the first to report that the Kings were acquiring Arvidsson.

Chicago Blackhawks Working On Potential Duncan Keith Trade

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The Chicago Blackhawks are working on a potential trade for Duncan Keith, according to Elliotte Friedman of Sportsnet. The team and player are working together, Friedman tweets, to send the veteran defenseman somewhere he wants to go in the Pacific Northwest or Western Canada.

Keith, 37, was born in Winnipeg but grew up in Penticton, British Columbia, where he played junior hockey before going to Michigan State. He has spent his entire NHL career to this point in Chicago, and has two years left on his current deal which carries a cap hit of $5.54MM. Notably, though the cap hit is hefty, he’s only actually owed $3.6MM in salary over the final two years. As Brian Hedger of the Columbus Dispatch tweets, there had been reports in the past that Keith would only waive his no-trade clause to end up in Western Canada or “out in that direction.”

Of course, there is a new NHL team just about to start play in that area of the continent. The Seattle Kraken are arriving in the NHL next season and happen to be just about a six-hour drive from Penticton, though Friedman does not specifically state which teams are interested in the veteran defenseman.

If it is the end of the line for Keith in Chicago, it has been quite a run. Selected 54th overall in 2002, he had to work his way through college, the WHL, the AHL and a lockout before eventually making his debut in the 2005-06 season. He immediately became a regular for the Blackhawks and would quickly become a core piece for a franchise that would go on to win three Stanley Cup championships. He won the Norris Trophy twice as the league’s best defenseman, took home the Conn Smythe in 2015 as playoff MVP (after scoring the Cup-clinching goal) and won two Olympic gold medals for Team Canada.

There’s almost nothing left to accomplish in Chicago and with the Blackhawks transitioning to a younger group, his cap space could be used elsewhere. That’s not to say he’s irrelevant, however, as Keith still averaged over 23 minutes a night and could be a valuable addition, even if his best days are behind him. That kind of experience could be especially helpful for an expansion team like Seattle, who will be trying to get their feet wet with a group collected from around the league.

For the Blackhawks, who have been linked to Jack Eichel among other high-end targets this offseason, moving Keith would not only open up some cap space, but also minutes for their young defense corps. Players like Ian Mitchell, Adam Boqvist, and Nicolas Beaudin will all be vying for more playing time moving forward and without Keith there eating up 23 minutes a night, there will be plenty to go around. The other big benefit from moving him off the roster before the expansion draft is freeing up a protection slot, as currently the Blackhawks would be required to protect him because of his no-movement clause.

That doesn’t mean the team improves with him gone, but there was going to have to be a parting of ways at some point in the future–if Keith is on board, it might as well be now.

Photo courtesy of USA Today Sports Images

Toronto Maple Leafs Extend Wayne Simmonds

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June 29: The team has made the contract extension official, signing Simmonds for two years. The deal carries an average annual value of just $900K, a significant decrease from last year and a reasonable number for the veteran forward. The entire cap hit is low enough that it could be buried in the minor leagues if necessary, but Simmonds will likely play a key role in Toronto’s bottom-six for the next while.

June 28: The Toronto Maple Leafs had several veteran forwards scheduled for unrestricted free agency this summer, but not all of them will reach the open market. The team already signed Jason Spezza to another one-year extension, and now Elliotte Friedman of Sportsnet reports that the team is working on a deal with Wayne Simmonds.

Simmonds, 32, played on a one-year, $1.5MM contract with the Maple Leafs this season, but ended up struggling to provide much excess value. Things started quite well, with five goals in his first 12 games, but then Simmonds suffered a fluke injury that resulted in a broken wrist. He would miss nearly six weeks before making his return, and managed just two goals and four points in the final 26 games. In Toronto’s seven-game playoff series against Montreal, Simmonds registered just a single assist.

Teammates throughout his career have raved about Simmonds’ leadership qualities and his ability to improve the dynamics of a locker room, but those things are extremely difficult to quantify (especially when you consider that the veteran forward has never been on a team with much playoff success). The Maple Leafs obviously believe in his ability to help them get over that hump though, and certainly, for a near-minimum salary, it would make some sense. Toronto continues to need to navigate the salary cap carefully thanks to their expensive forward talent, meaning low-risk deals for players like Spezza and Simmonds are likely to come every offseason.

Trade Rumors: Jones, Foegele, Tkachuk

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A Seth Jones trade seems like a foregone conclusion this off-season. The Columbus Blue Jackets defenseman has stated that he will not sign an extension before his current contract expires after the 2021-22 and will test the free agent market, all but guaranteeing that he will not re-sign with the team. The retooling Blue Jackets are not going to watch another star player walk away as they get nothing in return and recognize that Jones’ value will be much higher this summer as opposed to dealing him in-season. Columbus’ leverage is damaged by Jones’ public statements, but the team will try to create a bidding war to drive up the price. There should be no shortage of interest and one team is already hot on the trail. In his latest “31 Thoughts” column, Sportsnet’s Elliotte Friedman writes that the Philadelphia Flyers are “definitely” in on Jones and that it isn’t exactly a secret either. Friedman states that there is a lot of chatter surrounding a potential Jones-to-Philly deal already. The Flyers have been open about their desire to add another top pair defenseman across from Ivan Provorov and have a number of talented young roster players and a deep pipeline to offer Columbus whatever they want. In need of top center, perhaps the Blue Jackets will buy low on 2017 second overall pick Nolan Patrick as part of a package for Jones, a top-five pick himself.

  • Another player on the trade block, though not as publicly as Jones, is Carolina Hurricanes forward Warren Foegele. Foegele is looking to play a bigger role and on a deep Hurricanes roster he has been limited to bottom-six responsibilities. At first it seemed like Carolina may be reluctant to move the underrated forward, but it seems the tides are turning. Friedman believes that the ’Canes are going to re-shape their bottom-six after falling short in the playoffs once again and that Foegele’s unofficial trade request may just be honored. He reports that trade talks are occurring between Carolina and Foegele suitors. Friedman adds that impending unrestricted free agent Jordan Martinook is another player unlikely to return to Raleigh next season.
  • One player that Friedman does not see moving: Calgary Flames forward Matthew Tkachuk. While this may seem like common sense, the Flames are listening to all offers right now and could be making some major changes this summer. There were also whispers that Tkachuk himself may want to leave, however those rumors were met with swift and firm denials. As Friedman points out, that is a contrasting approach to how other teams have treated players who have recently asked to leave, such as Jones or Arizona’s Oliver Ekman-Larsson, implying that the rumors are in fact false. Friedman reports that Tkachuk’s name never came up in Calgary’s Pierre-Luc Dubois negotiations and the team has zero interest in trading him.

Snapshots: Eichel, Devils, HHOF

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When reports surfaced about Jack Eichel’s potential availability this summer, the first team that came to many minds was the New York Rangers. The Rangers have enough young assets to land the Buffalo Sabres center and are now focused on making the playoffs after a short rebuild. Today, Larry Brooks of the New York Post writes that the Rangers have had preliminary talks with the Sabres about Eichel and that the asking price is currently “four pieces that would be equivalent of first-rounders.” The Sabres have also, according to Brooks, not yet granted any medical record access to interested teams.

Obviously, an asking price isn’t necessarily indicative of what will eventually land a player in trade talks, but that report from Brooks shows just how high the Sabres are setting their sights in this negotiation. The team is dealing with a distressed asset, as Eichel has expressed frustration with the team over a difference in medical opinions, but will still not simply give him away. The biggest question mark surrounding the $10MM center is the health of his neck, which still may require surgery this offseason. Eventually, teams will have to get their hands on his medical records and determine how much risk is involved in an acquisition beyond just his recent on-ice struggles.

  • The New Jersey Devils are in the market for a young defenseman and would consider trading the fourth-overall pick, according to Elliotte Friedman of Sportsnet. The Devils have selected in the top ten three times in the last few years, taking Nico Hischier (first overall, 2017), Jack Hughes (first, 2019), and Alexander Holtz (seventh, 2020) in the early part of the first round. Perhaps that makes this year’s pick a little more expendable, especially with the uncertainty surrounding the 2021 class. Any trade that happens in the next few weeks has expansion draft implications, but as we examined recently, the Devils have a real opportunity to add defensemen with no risk of losing them to the Seattle Kraken.
  • The Hockey Hall of Fame is preparing to move forward with its 2020-21 induction ceremony on November 15th, though the actual event will be moved to a new venue. Ken Holland, Jarome Iginla, Kim St-Pierre, Marian Hossa, Kevin Lowe, and Doug Wilson were announced as the class of 2020 last year, but because of COVID-related closures, were never actually inducted. The HHOF decided not to induct a new class for 2021 but will return to its normal voting procedure for next year.

2021 Offer Sheet Compensation

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Though still rare, we did see an offer sheet make an impact in the 2019 offseason as the Montreal Canadiens signed Sebastian Aho to a five-year deal. It was quickly matched by the Carolina Hurricanes, meaning Aho stayed put and the team had to turn down a big package of draft picks that Montreal would have had to surrender.

Offer sheet compensation is based on the average salary of the league, and Elliotte Friedman included the thresholds for this year in his latest 31 Thoughts column for Sportsnet. Below is the full breakdown, with the contract’s average annual value placing it in one of seven tiers:

$1,356,540 or less No compensation
$1,356,540 to $2,055,364 Third-round pick
$2,055,364 to $4,110,732 Second-round pick
$4,110,732 to $6,166,096 First and third-round picks
$6,166,096 to $8,221,463 First, second and third-round picks
$8,221,463 to $10,276,829 Two firsts, a second and third-round picks
Over $10,276,829 Four first-round picks

For the first time in quite a while, these thresholds actually decreased from last offseason, thanks to the pandemic-related squeeze on player contracts. The average league salary finished at $2,960,905 according to Friedman, an 11.6% fall from 2019-20. Because of that decrease, the numbers for compensation have similarly fallen; last offseason, you could sign a player up to a $1,439,820 AAV without being required to give up any compensation.

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 Vancouver’s Quinn Hughes, 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.

Snapshots: Golden Knights, Laich, Richardson

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The Vegas Golden Knights were defeated last night by the Montreal Canadiens, giving them more frustrating memories of coming close but not reaching the top of the mountain. It’s been an incredible run for an expansion franchise, winning multiple playoff rounds in three of their four seasons in existence. But they still haven’t managed to win it all, meaning there will be changes once again this summer. On the 31 Thoughts podcast, Elliotte Friedman of Sportsnet notes that this team has never been afraid to go after the big fish.

Not specifically about [Jack] Eichel, but they’ll be in on anyone that can help them. That’s the way they are, it’s their DNA. The surest predictor of future behavior is past behavior, and those guys go after the big fish. No matter who they’ve got. No matter who they’ve got, they go after the big fish. 

Vegas made enough cap space to fit in Alex Pietrangelo last summer when the defenseman became available, but they’ll have to do it again if they want to add this year. Friedman and co-host Jeff Marek discussed the future of Marc-Andre Fleury, suggesting that moving his $7MM contract is the best opportunity for cap savings, while also noting that Alec Martinez is likely to be replaced in the lineup by Nicolas Hague full-time. The Golden Knights will be an interesting team to watch over the coming weeks as they deal with another heartbreaking loss.

  • Though he hasn’t played an NHL game since the 2017-18 season, Brooks Laich is only just now announcing his official retirement. The 38-year-old forward last played for the Los Angeles Kings, but is far better known for his time with the Washington Capitals which included three consecutive 20+ goal seasons. Laich competed for Team Canada at the World Juniors and World Championships and will officially hang up his skates with 776 regular season games played in the NHL.
  • One of the most impressive parts of the Canadiens’ series victory is that they did it without head coach Dominique Ducharme as he deals with a positive COVID test. Luke Richardson has taken over the head coaching duties in the meantime, and Darren Dreger of TSN explains how teams around the league may be keeping an eye on the former NHL defenseman. Of course, this isn’t the first time Richardson has held a head coaching role. For four seasons he led the Binghamton Senators of the AHL, and in 2017 he led the Canadian roster to a victory in the Spengler Cup. A one-time captain with the Columbus Blue Jackets, Richardson’s name will likely come up in connection to NHL head coaching vacancies.

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