At the quarter mark of the NHL regular season, there are some early wins for teams that took a chance on the free agency market. While some of the higher-priced free agent signings, like Mitch Marner of the Golden Knights and Mikael Granlund of the Ducks, might be obvious choices for this piece, we will focus on some of the more under-the-radar signings that have delivered fantastic results so far.
Avalanche forward Victor Olofsson was a late addition to the team’s roster, signing a one-year deal on Aug. 20 for $1.575MM. For most of his career, Olofsson was a fairly one-dimensional perimeter scorer who primarily shot the puck well. That all changed last season, when he made a solid defensive impact with the Golden Knights and contributed decent depth scoring with 15 goals and 14 assists in 56 games. He still dealt with injuries, which have been an issue in his career, but his performance was enough for AFP Analytics to project that the 30-year-old would sign for three years at a cap hit of $3.41MM.
However, Olofsson’s injury history and inconsistent play likely kept his market soft. This was great news for Colorado, which signed him up. He’s been excellent to start the year with six goals and nine assists in 22 games. As good as Olofsson has been at five-on-five, he has done a lot of damage with the man advantage, registering six points thus far, which is quite a number given that he had just eight points on the power play last year.
Olofsson was effectively signed to replace a departing Jonathan Drouin, whose salary could no longer fit within the Avalanche’s cap structure, as Drouin was able to secure a two-year, $8MM contract with the Islanders. Colorado had Drouin on a discount for the previous two seasons, and the Ste-Agathe, Quebec native impressed for the Avalanche, recording 30 goals and 63 assists in 122 games over those two seasons. Drouin kept his game simple with Colorado and used his skill set to be as effective as possible.
His free-agent market was limited because fit was an essential part of the equation, but he seems to have found a good fit with the Islanders, recording 14 points in 22 games. What makes Drouin’s start really promising is that he hasn’t scored much on the power play, with just three assists in 80 minutes of time on the man advantage. Last season, he had 12 points in 132 power-play minutes for the whole season, and if he can get back to that level of production at five-on-four, his numbers will look great at the end of the year.
It’s now been six years since the Ducks bought out Corey Perry, and many wondered what his career prospects were as he approached his mid-30s. Perry reinvented himself, shifting from a scoring power forward to more of a net-front presence and pest. Since the buyout, Perry has played for six different teams and reached the Stanley Cup Finals—and lost—five times. The 40-year-old signed this summer with the Kings, agreeing to a one-year deal for $2MM plus an additional $2MM in potential performance bonuses. To start the season, Perry has been on a hot streak, scoring seven goals and adding five assists in 14 games while playing nearly 15 minutes a night. His ice time is the highest it’s been since 2018-19, though it’s likely unsustainable for the entire season, as is his current production. However, even if he slows down in the later stages of the year, he should still net at least 30 points, which is excellent value for the contract he signed. Ultimately, the Kings signed Perry for his playoff impact; however, his start to the regular season has been a bonus so far.
Jack Roslovic has faced challenges navigating unrestricted free agency, settling for one-year deals below market value in consecutive summers. This year, he waited until Oct. 8 to secure a new contract, agreeing to a one-year deal worth $1.5MM with the Edmonton Oilers. Roslovic has responded by starting the season strongly, with seven goals and eight assists in his first 21 games. His fit in Edmonton seems natural so far, which makes sense given his speed and skill. Roslovic was an unusual fit with Carolina last season but made the most of it, recording 22 goals and 17 assists in 81 games. Suppose he can maintain his current pace until season’s end. In that case, it’s unlikely he’ll need to sign another one-year deal, especially since he has worked on and improved other parts of his game, notably his faceoff ability, which was questionable early in his career. Roslovic is making the league sit up and take notice of him, and he’s likely hopeful they will consider him in free agency next summer.
Shifting back to the Metropolitan Division, the Penguins made a couple of under-the-radar signings on July 1 that have paid off big time early in this season. Justin Brazeau signed a two-year, $3MM deal in free agency this past summer. Very little attention was paid to the move, which isn’t surprising given that Brazeau didn’t break into the NHL until he was 25 and had just 95 career NHL games across two seasons. However, the New Liskeard, Ontario native showed enough in his short career for the Penguins to take a chance on him, and so far, the returns have been excellent—he has six goals and six assists in 12 games. Now, an unfortunate upper-body injury has slowed Brazeau’s season, just as he was gaining traction on a line with Evgeni Malkin and Anthony Mantha. Brazeau will likely miss a couple more weeks, but if he continues to trend in the right direction, the Penguins will have a bargain forward on their hands for another season and a half.
Parker Wotherspoon was another shrewd signing on July 1 by Penguins general manager Kyle Dubas. The 28-year-old played well last season in a bottom-pairing role and signed with Pittsburgh, likely sensing that there was an opportunity for a bigger role on the left side of the team’s defense. The Penguins entered the summer with arguably the worst left side in the NHL and made some depth moves to create competition and improve the position. So far, it has worked, as Wotherspoon has secured a spot alongside Erik Karlsson and has become the team’s top pairing. Wotherspoon is signed for another season after this one as part of his two-year $2MM deal, and like Brazeau, could provide Pittsburgh with a major contributor at a bargain basement price for one more season. He’s approaching a career high in points and has been part of rejuvenating Karlsson’s game, providing him with a reliable defensive partner for the first time since his days in Ottawa.
There is always an inherent risk when signing players in free agency. Olofsson, Drouin, and Perry have all proven to be reliable veterans earlier in their careers and weren’t considered high-risk signings. Still, it’s not surprising to see them contributing as they are, given their past performance and their strong showings last season with their previous teams. For Brazeau and Wotherspoon, signing them was essentially a no-risk decision for Pittsburgh, and they have worked out exceptionally well. Dubas did well to sign them for an additional season, a low-risk gamble that could pay off significantly if the rest of the season unfolds well. Neither man has contributed at this level before, and it will be interesting to see if they can maintain this pace throughout the entire season.
