Metropolitan Notes: Buyouts, Mahoney, Schenn
After finalizing the deal with Kevin Hayes this afternoon, the New York Rangers have come to terms with each of the four players who filed for salary arbitration this summer (Hayes, Chris Kreider, J.T. Miller and Dylan McIlrath) before any of them had a hearing. With it, comes an additional buyout window that will start on Monday and last for 48 hours.
In this window, the team may perform a buyout on a player who fulfills certain criteria. Many speculated during the last window that the team could buy out defenseman Dan Girardi, and as the Rangers move closer to the cap, this remains a possibility. Girardi’s play has deteriorated over the past few seasons, and he carries a cap hit of $5.5MM for the next four years.
If the team were to buy out Girardi, they’d be paying him $10MM total, spread over eight years. His cap hits would be as follows (via General Fanager):
2016-17 – $1.75MM
2017-18 – $2.75MM
2018-19 – $3.75MM
2019-20 – $3.75MM
2020-21 – $1.25MM
2021-22 – $1.25MM
2022-23 – $1.25MM
2023-24 – $1.25MM.
There has been no word from Rangers camp that Girardi is headed for a buyout, but we’ll keep an eye on the situation as it unfolds. Here are some more notes from the Metropolitan division:
- While there has been relatively little news out of Las Vegas since the city was granted an expansion franchise, Elliotte Friedman is hearing that the team is after Washington Capitals assistant general manager Ross Mahoney, and has asked the club for it’s permission to interview him. While there hasn’t been any response from the Capitals, Mahoney worked with new Las Vegas GM George McPhee for over a decade in Washington and may see it as a new opportunity.
- The last thing we heard about Brayden Schenn is that there has been “no progress of any kind” on a new contract, and the young forward is getting closer and closer to his arbitration hearing. Each player so far that has been scheduled before Schenn’s July 25th hearing has come to an agreement, but so far it doesn’t sound like there is any movement from either camp. The Philadelphia centerman is coming off his best year as a pro, one that saw him score 26 goals and 59 points in 80 games. His continued development will be a discussion point in arbitration, as the former fifth-overall pick has increased his point total each season of his career.
New York Rangers Re-Sign Kevin Hayes
After signing Chris Kreider this morning to a four-year extension, the New York Rangers have come to terms with fellow restricted free agent Kevin Hayes, according to NHL analyst Aaron Ward. According to Ward’s source, the deal is for two seasons, at $2.6MM per.
After being selected in the first round of the 2010 Entry Draft, Hayes spent four years at Boston College in the NCAA, after which he became a free agent and chose to sign with the Rangers. In the two seasons since his transition from college, Hayes has put up solid scoring numbers, tallying 45 and 36 points, while playing in 79 games each season.
His deal represents the third time this summer the team has been able to lock up one of their young forwards, following Kreider and J.T. Miller in inking multi-year deals. Hayes, still just 24, will have a chance to move back up the depth chart in New York as Eric Staal and Viktor Stalberg both signed elsewhere.
After acquiring Mika Zibanejad the other day, the team has continued it’s push to get younger up front, and now has five 25-or-younger players expected to start the season with the club up front.
As General Fanager adds, since the Rangers have settled all four of their arbitration filings already, the team will now have a 48 hour bonus buyout window. For the updated depth charts, be sure to check out the Rangers’ Roster Resource page.
Arbitration Tracker
Ten days ago, the NHLPA released the schedule for player and team-elected arbitration hearings. Since then, four hearing dates have come and gone with no hearings, with eight players agreeing to contracts to avoid the unpleasant process.
Here’s an updated list of all 24 players who were scheduled for an arbitration hearing:
Player Elected Filings:
Arizona Coyotes
Michael Stone – Stone and the tough-negotiating Coyotes have a hearing set for August 4.
Colorado Avalanche
Tyson Barrie – Hearing set for July 29. Barrie has been the subject of near-constant trade rumors this summer.
Mikhail Grigorenko – Agreed to a one-year, $1.3MM contract on July 20, just two days before the scheduled hearing.
Detroit Red Wings
Jared Coreau – Agreed to a two-year, $1.25MM contract on July 6, well before any hearings were scheduled.
Danny DeKeyser – Signed a six-year deal on July 26th, locking him up long-term for the Red Wings.
Minnesota Wild
Jordan Schroeder – The Wild signed Schroeder to a one-year, two-way deal on July 23rd worth $675K in the NHL and $275K in the AHL.
Nashville Predators
Petter Granberg – Signed a two-year, two-way deal worth $575K / $175K (300K guaranteed) in the first year, and $650K / $175K in the second.
Calle Jarnkrok – Signed a six-year, $12MM deal July 27th.
New York Rangers
Kevin Hayes – Signed a two-year, $5.2MM deal Friday afternoon, hours after Kreider.
Chris Kreider – The Rangers and Kreider agreed to a four-year, $18.5MM contract Friday morning, beating the scheduled 9am arbitration meeting.
Dylan McIlrath – The massive defender signed a one-year, $800k contract last week, beating his hearing by a week.
J.T. Miller – World Cup-bound Miller and the Rangers settled on a two-year, $2.75MM contract on July 13.
Ottawa Senators
Mike Hoffman – After a long negotiation, the Senators and Hoffman agreed to a four-year, $20.75MM deal on July 27th.
Philadelphia Flyers
Brandon Manning – Manning got an unexpected second year in his two-year, $1.95MM deal he signed on July 26th.
Brayden Schenn – Schenn and the Flyers agreed to a four-year deal worth $5.125MM AAV.
Jordan Weal – Acquired by the Flyers in the Vincent Lecavalier trade, Weal signed a one-year, two-way, $650K contract the day the arbitration schedule was released.
St. Louis Blues
Jaden Schwartz – The Blues signed their young star to a five-year, $5.5MM contract last week.
Tampa Bay Lightning
Alex Killorn – The clutch playoff performer signed a long-term extension over the weekend, agreeing to $4.45MM per year for seven seasons.
Vladislav Namestnikov – World Cup-bound forward signed a two-year deal worth $1.9375MM on July 26th, three days before arbitration hearing.
Toronto Maple Leafs
Frank Corrado – Toronto signed Corrado to a one-year, one-way deal worth $600K on July 25.
Peter Holland – Holland signed a one-year deal worth $1.3MM on July 25.
Martin Marincin – The promising young shut-down defenseman is scheduled for arbitration on August 2.
Washington Capitals
Marcus Johansson – Johansson agreed to a three-year, $4.58MM contract just minutes before his hearing was set to begin.
CLUB ELECTED FILINGS:
Detroit Red Wings
Petr Mrazek – Just before his hearing on July 27th, Mrazek and the Red Wings inked a two-year, $8MM deal. With Jimmy Howard still earning $5.3MM for next season, the duo is one of the more expensive in the league.
We’ve previously explained the arbitration process as part of our Capology 101 series. Check out our Mike Furlano’s articles on eligibility and the arbitration process.
Arbitration Breakdown: Chris Kreider
With the clock ticking down, the New York Rangers and the camp for Chris Kreider have filed their respective briefs in advance of Friday’s scheduled arbitration hearing, as we earlier reported on Pro Hockey Rumors. The Rangers offered a figure of $3.2MM while Kreider has requested $4.75MM in salary for the 2016-17 campaign.
The apparently wide gulf is indicative of a typical negotiating ploy being utilized by both parties. Kreider’s side comes in on the high end while the club submits a lower number, each with the knowledge that arbitrators typically award a number comfortably between the two positions. Should this actually go to a hearing, and there is every reason to believe negotiations on a long-term deal are being conducted as we speak, the arbitrator likely would award a one-year salary of around $4MM, roughly near the midpoint of the figures exchanged.
If we operate under the supposition both sides are willing to do a long term deal, what would Kreider then be worth?
Kreider’s is an interesting case. Still just 25, the former Boston College standout and former first-round pick possesses a rare blend of size, speed and skill. The six-foot-three, 226-pound winger is among the fastest straight line skaters in the game today and creates numerous scoring chances due solely to his physical skills. When fully engaged, Kreider has the ability to dominate entire games with his speed and physicality.
Following a 21-goal performance during the 2014-15 campaign, it was believed Kreider might finally be realizing his vast potential and a 30-goal season was considered the logical next step in his development. But Kreider struggled with consistency in 2015-16, an all-too-frequent experience during his burgeoning career (and frankly one shared by many young players), and needed five tallies in his final eight games to match his 2014-15 output.
Still, 20-goal scorers in their prime and with additional offensive upside are not cheap. Fortunately, a couple of recent RFA signings can be used for comparative purposes to help determine just how much Kreider may be worth.
Kyle Palmieri recently inked a five-year deal with New Jersey that comes with an AAV of $4.65MM per season. Palmieri is coming off a better platform campaign than Kreider, tallying career highs in both goals with 30 and points with 57.
Meanwhile, Washington Capitals forward Marcus Johansson, avoided arbitration by agreeing to a three-year, $13.75MM contract which averages out to just under $4.6MM annually. Johansson finished the 2015-16 season with 17 goals and 46 points.
On the surface both would seem to serve as obvious comparables. And while their contracts certainly help us hone in on Kreider’s potential value, the big winger has some advantages over his peers that could boost his value.
First, even though Kreider’s 43-point 2015-16 output falls short of Palmieri (57) and Johansson (46), his 1.85 points/60 at five-on-five (5v5) scoring rate over the last two seasons is superior. Johansson has recorded a 1.68 points/60 at 5v5 and Palmieri comes in at 1.55 over that same time frame.
Second, Kreider already has extensive postseason experience and has excelled when it matters most. He’s potted 20 goals in 65 playoff contests since debuting during the 2011-12 postseason, scoring his first playoff goal a week before his 21st birthday. Palmieri has tallied seven goals in 33 postseason games. Johansson also has seven playoff goals, albeit in 56 contests.
The New York Rangers relatively quiet foray into free agency, and the recent trade of Derick Brassard to Ottawa for Mika Zibanejad, has left the Rangers with $10.65MM in cap space according to General Fanager. With only Kevin Hayes and Marek Hrivik remaining unsigned as RFAs, it seems reasonable to conclude the Rangers have the financial wherewithal to offer a deal in the range of $5MM annually for five years. This would allow the club to buy three unrestricted free agent seasons and lock up one of their top young players through his prime years at what could be a very affordable price should he ever meet his 30-goal potential. Even as a 20-goal scorer, the cost wouldn’t be too out of line with what is paid on the open market.
Rangers Sign Dylan McIlrath To One-Year Deal
After filing for arbitration earlier this month, defenseman Dylan McIlrath has come to terms with the New York Rangers on a one-year, $800K contract for 2016-17, according to a team release.
McIlrath, 24, played in 34 games for the Rangers last season, lending his physical style to the bottom pairing. With 64 PIM, the former 10th overall pick ranked second on the team and recorded 93 hits and 35 blocked shots. His possession numbers indicate that he may be able to take on a larger role as soon as this season, and with the departure of Keith Yandle, and retirement of Dan Boyle, it may soon present itself.
Larry Brooks of the New York Post points out that should McIlrath not play in at least 42 games this season, he would become a Group VI unrestricted free agent on July 1, 2017. To qualify for this type of free agency, a player must have played in less than 80 NHL games (among other things); McIlrath currently has played in 38, including one playoff match this season.
The Rangers also signed free agent forward Josh Jooris within minutes of announcing the McIlrath deal, and still have arbitration eligible RFAs Chris Kreider and Kevin Hayes on the docket. Kreider has an arbitration hearing set for July 22nd, while Hayes will have to wait until the 27th.
Full Salary Arbitration Hearing Schedule
The NHLPA released the full schedule of arbitration hearings today, which will not include Jordan Weal, after he re-signed with the Philadelphia Flyers earlier today. Teams and players can still negotiate up until the hearing, and many will reach agreements before going to arbitration. For more information on the arbitration process, check out part one of our full guide. Here is the full schedule:
PLAYER ELECTED FILINGS
Arizona Coyotes
Michael Stone – August 4, 2016
Colorado Avalanche
Tyson Barrie – July 29, 2016
Mikhail Grigorenko – July 22, 2016
Detroit Red Wings
Danny DeKeyser – July 28, 2016
Minnesota Wild
Jordan Schroeder – July 27, 2016
Nashville Predators
Calle Jarnkrok – August 4, 2016
Petter Granberg – August 3, 2016
New York Rangers
Kevin Hayes – July 27, 2016
Chris Kreider – July 22, 2016
Dylan McIlrath – July 21, 2016
J.T. Miller – August 2, 2016
Ottawa Senators
Mike Hoffman – August 4, 2016
Philadelphia Flyers
Brandon Manning – August 2, 2016
Brayden Schenn – July 25, 2016
St. Louis Blues
Jaden Schwartz – July 20, 2016
Tampa Bay Lightning
Alex Killorn – July 20, 2016
Vladislav Namestnikov – July 29, 2016
Toronto Maple Leafs
Frank Corrado – July 26, 2016
Peter Holland – July 25, 2016
Martin Marincin – August 2, 2016
Washington Capitals
Marcus Johansson – July 20, 2016
CLUB ELECTED FILINGS
Detroit Red Wings
Petr Mrazek – July 27, 2016
Free Agent Focus: New York Rangers
The New York Rangers again amassed over 100 points and made the playoffs for the sixth consecutive year in 2015-16, going 46-27-9 and just edging out the Islanders for third in the Metropolitan division. What that won them was a matchup with the eventual Stanley Cup winning Pittsburgh Penguins in the first round. As they head into the summer, they have some big questions to answer all over their club, with only 14 players under contract at the moment.
Key Restricted Free Agents: There isn’t just a single RFA that the Rangers need to worry about, there is a trio of them. LW Chris Kreider, C Kevin Hayes and RW J.T. Miller are all arbitration eligible and due for substantial raises this summer, after scoring 57 goals between them. Miller led the pack with 22 including five game winners, and racked up 43 points (tied with Kreider).
The Rangers may have some trouble with the expansion draft next year, as these three will all need protection along with Derek Stepan, Derick Brassard and Mats Zuccarello which will put at risk some of their other young players like Jesper Fast or Oscar Lindberg, even if they leave Rick Nash unprotected. It will be even more strained if they decide to sign any big name free agent forward, most of which would demand a NMC to come to New York.
Other RFAs: Dylan McIlrath
Key Unrestricted Free Agent: D Keith Yandle – The top blueliner on the UFA market this summer, Yandle is going to command a huge salary and will have teams lining up to offer it. After coming over in a trade from the Arizona Coyotes in 2014-15, Yandle has been one of the better defencemen in the league, putting up 58 points in a Rangers uniform.
The 29-year old will head into free agency after completing a five-year $26.25MM dollar contract he signed with the Coyotes in 2011. That cap-hit of $5.25MM is sure to go up this summer when teams bang down his door looking for a #1 defenceman. Over the last five seasons, Yandle has the 5th most points of any defenceman in the league, only trailing Erik Karlsson, P.K. Subban, Dustin Byfuglien, and Shea Weber – all of whom are earning at least $7MM next year.
Other UFAs: Dan Boyle, Eric Staal, Viktor Stalberg, Dominic Moore
Projected Cap Space: $15.33MM, 14 players under contract.
Losing Yandle and Boyle from their blueline doesn’t look good for the Rangers, who won’t have much room for free agents after the deals for their RFAs. With Dan Girardi and Marc Staal both taking a lot of heat for their poor possession numbers, the team might be in trouble defensively next season. The Penguins exploited it in the playoffs, and with Henrik Lundqvist another year older he may not be able to bail them out as much in 2015-16.
The deal for Eric Staal ended up not working out very well for the club, as he scored just six points for the club down the stretch before being held scoreless in the playoffs. Carolina has already made good use of one of the picks, dealing it to Chicago as the main piece in the Teuvo Teravainen deal two days ago.
If the team is to get back to the playoffs they’ll have to rely on their speed and skill up front, unless they make a move to shore up that back end. Look for teams to start kicking the tires on those young forwards, trying to entice one or two of them out of the Big Apple, and into their system.