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Vegas Golden Knights Looking To Move Out Salary

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The Vegas Golden Knights have gone from an empty expansion team roster to a cap crunch sooner than anyone could have expected. The defending Western Conference champs are enjoying another strong season and made a major splash at the trade deadline, acquiring Mark Stone and subsequently signing him to an eight-year, $76MM extension. GM George McPhee made the move knowing that the majority of the roster was locked up through next season and beyond and he would not be forcing anyone out by adding a $9.5MM cap hit to the payroll; or so he hopes. The other side of that coin is the lack of free agents who could depart Vegas naturally this off-season leaves little cap flexibility for the one major extension the team needs to make: top line center and impending restricted free agent William Karlsson. 

Karlsson, 26, bet on himself this past year when he signed a one-year, $5.25MM deal with Vegas following a breakout 78-point campaign. He hasn’t quite replicated those numbers this season, but with 44 points through 71 games, Karlsson is on a 51-point pace and has at least proven that he is a reliable contributor and will almost certainly be able to command a raise in his next deal, which is likely to be a long-term pact.

The only problem is that CapFriendly currently projects Vegas to have negative cap space next season. Of course, this does not take into account a likely bump in the cap ceiling nor does it exclude the cap hit of the injured David Clarkson, but the Knights have joined the select few teams who are in a legitimate cap crunch, where the salary they need to add to complete their roster does not match up with the space they expect to work with. For now, McPhee is waiting to see what his options are before moving forward in talks with Karlsson. The Athletic’s Jesse Granger reports that the two sides have not talked contract yet and do not plan to until after the season. Even if early discussions go smoothly, that timeline almost assures that Karlsson will again file for arbitration and bad decision for the team side could cause major problems.

As a result, Granger expects the team to work quickly to move out salary this off-season. In addition to Karlsson, Tomas Nosek and Malcolm Subban are also restricted free agents, while veteran leader Deryk Engelland and goal scorer Brandon Pirri are among the UFA’s they might be interested in re-signing. It’s a group of players that each made no more than $1.5MM this season, but new deals even at those same values add up in addition to Karlsson’s demands. Granger expects the Knights to have $5.75MM in cap space, which is likely not enough to re-sign Karlsson, nevertheless these supporting pieces as well. The team could also use an upgrade at backup goalie, moving on from Subban for a more established piece.

So who could be on the move to help clear up space? Granger points to bottom-six forwards Ryan Reaves and Cody Eakin as the most likely trade casualties. Although Reaves is valued more for his checking game and willingness to defend his teammates, his nearly $3MM salary is hard to swallow given his paltry offensive contributions. Vegas could find a much cheaper option to fill Reaves’ role. Eakin is sixth in scoring for the Golden Knights this season, but is seemingly locked into a fourth-line center slot moving forward which doesn’t match up nicely with his contract of just under $4MM. Granger points out that both Reaves’ and Eakin’s contract expires after next season, so moving them may not be hard. However, McPhee could opt to deal from a greater position of strength: Vegas’ surplus of defensemen. The team could try to trade Colin Miller, who costs slightly more than Eakin against the cap and has taken a step back in his development this year. The 26-year-old is signed for three more years, but there are surely teams out there who would still be willing to take a chance on his upside. Other possibilities to clear cap space, albeit smaller amounts, are defenseman Jon Merrill and forward William Carrier.

Whatever McPhee decides to do, it is clear that he must move some salary out and the sooner the better once the off-season gets underway. The Golden Knights’ focus is elsewhere right now, but if this promising team is to keep their core together and continue their impressive start to the franchise, they need to do what it takes to keep Karlsson around long-term, even if it costs them in the short-term to do so.

Mark Stone Signs Eight-Year Extension With Vegas Golden Knights

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The wait is over Vegas Golden Knights fans. Mark Stone has officially signed his eight-year, $76MM extension. The deal carries a $9.5MM average annual value and includes a full no-movement clause. CapFriendly has the full salary breakdown:

  • 2019-20: $3MM salary + $9MM signing bonus
  • 2020-21: $1MM salary + $7MM signing bonus
  • 2021-22: $7MM salary + $5MM signing bonus
  • 2022-23: $1MM salary + $7MM signing bonus
  • 2023-24: $6MM salary + $5MM signing bonus
  • 2024-25: $6MM salary + $5MM signing bonus
  • 2025-26: $3MM salary + $5MM signing bonus
  • 2026-27: $1MM salary + $5MM signing bonus

Stone, 26, was acquired by the Golden Knights at the trade deadline from the Ottawa Senators for a package that included prospect Erik Brannstrom, and has had an immediate impact on the ice. Though he has recorded just two points in five games, the Golden Knights are undefeated and have not allowed a goal against with Stone on the ice. That’s part of his appeal, given his ability as one of the very best defensive forwards in the entire NHL. Stone has also attempted 34 shots in those five games, with 18 of them hitting the net but failing to go in. Stone had scored on nearly 20% of his shots while with the Senators, meaning it’s just a matter of time before he gets his first goal as a Golden Knight.

Even with his incredible two-way appeal, this contract is certainly an expensive one for the Golden Knights. The club is just in their sophomore season in the NHL, but already has more than $82MM in cap space committed to the 2019-20 season. That includes just 17 players, meaning there will have to be changes coming in Vegas even if the cap ceiling increases substantially as it is expected to. Along with Stone’s extension, the Golden Knights will see Marc-Andre Fleury, Nate Schmidt, Alex Tuch and Max Pacioretty all receive huge raises next season.

The huge amount of the contract paid out in signing bonuses is an important factor. Not only will Stone receive the equivalent of lockout protection by receiving most of his total in bonuses in both 2020-21 and 2022-23 (possible work stoppage seasons), but paying out his salary in huge chunks is something the Ottawa Senators likely weren’t able to offer. The Senators apparently tried tirelessly to work out a contract extension with Stone before trading him, but the team has never been able to agree to this sort of payment structure in the past.

A no-movement clause is also included in the deal, which is something teams are wary to hand out at the moment. With the Seattle expansion draft coming up, NMCs drastically reduce a team’s flexibility given that they must be protected. Vegas however doesn’t have to worry about that factor, given they will not be participating in the expansion fee or draft process. While several teams likely would have been willing to offer a no-movement clause to a player of Stone’s caliber, Vegas can do so without hesitation.

Stone’s will now be tied (for the moment) for the 12th-highest cap hit  in the NHL next season, and puts him behind only Patrick Kane ($10.5MM) and Alex Ovechkin ($9.54MM) in terms of wingers. Nikita Kucherov and Jamie Benn also come in at $9.5MM. That puts a lot of pressure on him to continue producing, something that isn’t guaranteed even with his outstanding reputation around the league. His 64 points this season actually represents a career high, tying him with his total from 2014-15. While he’s obviously going to break that total given the month remaining in the season, the fact that he secured a contract like this without ever producing 65 points or 30 goals in a single season is impressive and speaks to just how valuable the Golden Knights believe him to be in other areas.

It’s not just on the ice that Stone has impressed. There was speculation in Ottawa that the winger would likely be the team’s next captain if he re-signed, and new teammates have already raved about how Stone stepped into a leadership role in Vegas right away. He’ll be asked to bring that and a lot more for the next eight years.

Photo courtesy of USA Today Sports Images

Poll: How Many Top Free Agents Will Re-Sign With Their Current Club?

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Back in January, PHR published our Midseason UFA Power Rankings: 1-10, 11-20, and several honorable mentions. With the NHL Trade Deadline now passed, the next chance that teams have to shake up their rosters is the off-season, with the majority waiting until July 1st, when the free agent market officially opens. However, the question always is how many would-be free agents actually make it to the open market? Mark Stone, Eric Staal, and Jakob Silfverberg – three of our top 20 –  have already signed or agreed to extensions. Will many more follow suit? With the trade deadline shaking up the status quo for several teams and players, how many more top free agents will skip free agency and sign extensions?

The Columbus Blue Jackets are now the team to watch for not just two but four of the best potential UFA’s. Artemi Panarin (No. 2) and Sergei Bobrovsky (No. 6) have long been expected to test the market, perhaps even as a package deal. Ottawa Senators imports Matt Duchene (No. 5) and Ryan Dzingel (No. 16) could now join them. The conditional first-round pick tied to re-signing Duchene would seemingly make it less likely that Columbus opts to extend him, while Dzingel, and Ohio State University alum, looks like a more natural long-term fit.

Another team of interest are the San Jose Sharks. Superstar defenseman Erik Karlsson (No. 1) and respected veteran forward Joe Pavelski (No. 7) are both heading for free agency and the Sharks may be hard-pressed to sign both. There’s also now deadline addition Gustav Nyquist (No. 14) to consider. How the season ends for the Cup contending Sharks could determine if any of the trio return to San Jose. The same could be said for the Western Conference rival Winnipeg Jets. Between rental center Kevin Hayes (No. 8) and big defenseman Tyler Myers (No. 10), the Jets have a pair of coveted free agents on the roster, but their impending cap crunch is severe and could make bringing back just one of the two nearly impossible.

After losing John Tavares last summer, going through the same with top forward Anders Lee (No. 9) would be devastating for the New York Islanders franchise. For that reason, it is fair to put faith in the team coming to a new agreement with their captain. However, that line of thinking if awfully reminiscent to last year. Less likely to return are center Brock Nelson (No. 11) and winger Jordan Eberle (No. 15), although either one could opt to re-sign after a strong playoff run. The big question is resurgent goalie Robin Lehner (No. 23). Will the Islanders lock up the young keeper who has been so solid this season? Or will they refuse to pay market value for a player that has benefited from their system while splitting time with Thomas Greiss?

Generally, playoff rentals proceed to hit the free agent market rather than re-up with their new teams. In addition to Duchene, Dzingel, Hayes, and Nyquist, Nashville’s Wayne Simmonds (No. 13), Dallas’ Mats Zuccarello (No. 21), and Colorado’s Derick Brassard (No. 24) could very well be headed to yet another destination. Some may also consider Toronto defenseman Jake Gardiner (No. 12) and Carolina forward Micheal Ferland (No. 18) as “own rentals” given the high likelihood that both leave. However, there is room for a surprise or two in this group to sign an extension.

Safer bets to land a new deal rather than test free agent waters are a pair of long-time veterans and a breakout star. If there was any doubt that the Buffalo Sabres couldn’t re-sign Jeff Skinner (No. 4), there would have been talk of his availability at the trade deadline. Instead, it was dead quiet. Skinner has been a great match with Jack Eichel and certainly looks like a long-term fit in Buffalo. Vancouver’s Alexander Edler (No. 22) and Detroit’s Jimmy Howard (No. 25) both stated their preference not to be dealt at the recent deadline and are known to be working on new contracts. Yet, until pen meets paper they are still impending free agents. Similarly, Semyon Varlamov (No. 17) has expressed an interest in remaining with the Colorado Avalanche, but it’s unclear if the feeling is mutual.

Compared to recent years, this impending free agent class does look to have fewer locks for extensions among top players. Any of these 22 names could hit the market, although odds are they won’t all choose to do so. Regardless, this could be a healthy market come July 1st. Just how deep could it be? That’s for you to guess. How many of these top free agents will sign extensions? [Mobile users click here to vote]

Mark Stone Extension Delayed, But Still Coming

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After Mark Stone was traded to the Vegas Golden Knights just minutes before the February 25th trade deadline, he admitted to have already worked out an extension with the team. That extension was to be for eight years and $76MM, but couldn’t be officially filed until March 1st because of the “tagging” issue of having more than the salary cap ceiling already committed to the next season. Then March 1st came and went with no extension, leading some to wonder if something had occurred to stop the deal from coming together.

Not to worry Golden Knights fans, as Renaud Lavoie of TVA Sports reports that the only reason the deal isn’t done was a personal issue that kept GM George McPhee out of town. Lavoie notes that McPhee wanted to be there in person, and that the deal will be filed in the next few days.

Stone hasn’t been able to score much for the Golden Knights so far, recording just one assist in his four games for the club, but that hasn’t stopped him from making an impact. The former Ottawa Senators forward has attempted 23 shots so far, getting 13 of them on net. That kind of volume is sure to garner some results in the near future, even if Stone is playing fewer minutes than he has the last few seasons. Vegas takes on the Calgary Flames tonight in a battle of Western Conference titans, a matchup that would be a perfect time for Stone to break out and tally his first goal as a Golden Knight.

Snapshots: Sheahan, Stone, Pearson, Desjardins

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While some expected the Panthers to flip recently-acquired center Riley Sheahan by the trade deadline, they opted to keep him around instead.  GM Dale Tallon told Walter Villa of the Miami Herald that he’s quite pleased with how the 27-year-old has performed so far and that they hope to bring him back for next season.  Sheahan is set to become an unrestricted free agent in July and is making $2.1MM this season.  With just 14 points in 62 games between Pittsburgh and Florida, it’s hard to imagine that it will cost considerably more to keep him around although his positional versatility certainly adds to his value.

Other news and notes around the league:

  • Mark Stone’s expected new deal with Vegas (which can be made official as early as Friday) is expected to carry a full no-movement clause. Don Brennan of the Ottawa Sun notes that this was something that the Senators were unwilling to put as part of their offer to keep the 26-year-old in the fold.
  • Canucks winger Tanner Pearson has had a rough season as he has struggled offensively and has been dealt twice now. He told reporters, including Postmedia’s Patrick Johnston, that he had been playing through an undisclosed injury since early December which had prevented him from producing like he did in the past although it wasn’t significant enough to take him out of the lineup.  After averaging 18 goals over each of the past three seasons, Pearson has scored just nine through 61 games so far in 2018-19.
  • With the deadline having passed, one of the questions in Los Angeles is once again the future of interim head coach Willie Desjardins. GM Rob Blake told Robert Morales of the Los Angeles Daily News that a decision on whether or not Desjardins will remain behind the bench for the Kings beyond this year will be made at the end of the season.  The team is 19-25-6 under Desjardins since he took over for John Stevens back in early November.

Florida Panthers Tried To Acquire Mark Stone

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The Florida Panthers have cleared a large amount of cap room this season by trading away players like Nick Bjugstad and Jared McCann, and many have speculated that they’ll use it in free agency on targets like Artemi Panarin and Sergei Bobrovsky. While that may be true, it didn’t stop the team from going after another big fish at the trade deadline. Head coach Dale Tallon tells George Richards of The Athletic (subscription required) that the team made a “good offer” to the Ottawa Senators to try and get Mark Stone before the talented winger eventually went to the Vegas Golden Knights.

Stone is expected to sign a long-term extension with the Golden Knights, something Richards believes the Panthers were also willing to do if they could acquire the 26-year old. It makes sense, given the cap room that Florida has and already exceptional talent up front to surround Stone with. Interestingly though the team already has Mike Hoffman in the fold, who was unceremoniously ushered out of Ottawa after a very public feud with former Senators captain Erik Karlsson. It’s obviously not clear where Hoffman and Stone stand, but it didn’t stop the team from trying to acquire the latter.

Tallon admits that the team will be “very aggressive” at the end of the season, using their draft capital and cap space to improve the team. With a forward core already consisting of Hoffman, Aleksander Barkov, Jonathan Huberdeau, Vincent Trocheck and Evgeni Dadonov the team has some real scoring punch. Adding a player like Stone or Panarin would make them even more dangerous, and with somewhere around $22MM in cap space (depending on where the ceiling lands) they have the room to do it and other things. The Panthers also own nine picks in the upcoming draft and could flip those for some more help.

At the very least, the fact that the Panthers were going hard to try and land a player of Stone’s caliber should be encouraging to the fan base. While this season hasn’t gone as hoped, there should be real excitement for an offseason that should be filled with fireworks.

2019 Trade Deadline Day Recap

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The trade deadline for the 2018-19 season has come and gone, with teams all around the league loading up for a Stanley Cup run. This year saw a nearly unprecedented level of skill available, though things got started quite early. Before deadline day, names like Matt Duchene, Brandon Montour, Mats Zuccarello, Charlie Coyle, Ryan Dzingel, Gustav Nyquist and Nick Jensen all switched teams. However, the day was no disappointment; a slow pace early on ended in fireworks right before the deadline and as deal trickled in right after. Below is a complete list of the 21 trades featuring all but seven of the NHL’s teams made on February 25th alone (chronologically):

To Anaheim Ducks:
D Patrick Sieloff

To Ottawa Senators:
F Brian Gibbons

 

To New Jersey Devils:
2022 fifth-round pick

To Columbus Blue Jackets:
G Keith Kinkaid

 

To Winnipeg Jets:
F Kevin Hayes

To New York Rangers:
F Brendan Lemieux
2019 first-round pick (top-3 protected)
2022 conditional fourth-round pick (if Winnipeg wins Stanley Cup)

 

To Montreal Canadiens:
F Jordan Weal

To Arizona Coyotes:
F Michael Chaput

 

To Florida Panthers:
F Cliff Pu
Future Considerations

To Carolina Hurricanes:
F Tomas Jurco (AHL contract)
Future Considerations

 

To Colorado Avalanche:
F Derick Brassard
2020 conditional sixth-round pick (no pick if Brassard re-signs)

To Florida Panthers:
2020 third-round pick

 

To Columbus Blue Jackets:
D Adam McQuaid

To New York Rangers:
D Julius Bergman
2019 fourth-round pick
2019 seventh-round pick

Read more

Vegas Golden Knights Acquire, Extend Mark Stone

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The Vegas Golden Knights have made their big deadline splash, acquiring Mark Stone from the Ottawa Senators according to several reports including Bob McKenzie of TSN. The Senators will receive prospect Erik Brannstrom, forward Oscar Lindberg and a 2020 second-round selection (DAL). Tobias Lindberg will also go to Vegas in order to even out the contract slots. Stone himself told TSN that he is close to an extension with the Golden Knights. The deal is expected to be an eight-year contract with an average annual value of $9.5MM. The extension will not be officially signed until March 1st due to the tagging rule.

Stone, 26, is one of the most dynamic two-way wingers in the entire league and is having another excellent season. With 62 points in 59 games he is on track to blow by his previous career-high of 64, and will pass the 30-goal threshold for the first time in his career. Not only is he an effective offensive player, but Stone has repeatedly proven to be an elite defensive winger and routinely creates turnovers by stripping opposing players of the puck. He has received Selke Trophy votes for the last four seasons, even finishing sixth in 2017 despite the award usually going to centers.

That kind of all-around talent is why Stone was so coveted at the deadline, and why the Senators tried desperately to sign him to an extension. Apparently that couldn’t be worked out for whatever reason so the team cashed in for the best package available. Brannstrom, the 15th-overall pick from 2017, is having an excellent season as a 19-year old in the AHL and has impressed every step of the way. With 28 points in 41 games for the Chicago Wolves there are few defensemen in the minor leagues that can carry the puck as well as the new Senators prospect, and he has been repeatedly compared to Erik Karlsson over the last few years. Obviously that will put huge expectations on the young defenseman, but Ottawa did well to land a prospect of his stature.

Still, it is surprising that the team did not secure a first-round pick along with Brannstrom given the reported ask in recent days. The Senators do now have a huge number of picks in the next few drafts but watched their top three scorers walk out the door in the last few days. They’ll have to build quickly as the 2021 timeline that owner Eugene Melnyk suggested for contention is coming fast.

Calgary Flames Came Close To Mark Stone Deal

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The Calgary Flames have been checking in on several players around the league, and according to Hockey Operations VP Don Maloney were close to “something big” last night. That’s what Maloney told Ryan Leslie of Sportsnet, which immediately sparked speculation about who that deal could have been for. Sportsnet colleague Chris Johnston tweets that Maloney was talking about Mark Stone, meaning the market for the Ottawa Senators winger has gotten even smaller.

That market likely already took a hit when the Jets struck a deal earlier today for Kevin Hayes, using their first-round pick and Brendan Lemieux to get it done. The Senators are expected to want several high end assets for Stone and Calgary apparently balked at that ask. If that’s true the Flames may turn their attention somewhere else, though several big names are already off the board.

Calgary is in prime position to compete for the Stanley Cup this season, and should be considered a contender on any forward left on the market. The fact that they were close on Stone means they are willing to at least entertain deals surrounding rentals, though will hold strong on the idea that they’re not going to sell the whole farm. Eric Francis of Sportsnet believes the prices might even be too high all around, leading the Flames to miss out on the “impact forward” they’ve been trying to acquire.

Ottawa Senators Scratch Ceci, Boedker As Team Tries To Move Them

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The Ottawa Senators still have Mark Stone left to trade before the deadline on Monday, but the team may be looking to make even more moves. According to Darren Dreger, the Senators have made defenseman Cody Ceci and forward Mikkel Boedker both healthy scratches for precautionary reasons, suggesting that the Senators are attempting to trade those two players before the deadline. In fact, Dreger adds there is quite a bit of interest in Ceci. The team even announced that it recalled defenseman Cody Goloubef from the Belleville Senators of the AHL.

Ceci is no surprise and has been talked about in the past as the 25-year-old has been a constant in Ottawa’s lineup for more than five years. Ceci has five goals and 20 points in 57 games this season, which is just six points away from a career-high. He averages 22:34 of ATOI per game, which is second on the team behind Thomas Chabot. With several teams looking for a right-shot defenseman, Ceci might be a valuable commodity for a team looking for a complete rebuild.

Boedker came over to Ottawa in the Mike Hoffman trade this summer, but the 29-year-old has struggled offensively as he has just six goals and 29 points in 54 games with the Senators after having a 15-goal campaign last season in San Jose. Regardless, he could provide a team with a solid bottom-six depth option who has some special teams skills as well. Boedker, however, still has one more year on his contract at $4MM, which some teams might not be that interested in picking up unless Ottawa is willing to retain some salary.

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