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Dead Space: Bought-Out, Buried, And Retained Salaries For Every Team

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It’s something that often goes unnoticed, but with the cap showing minimal growth the last few years, teams are starting to feel the crunch more than ever. Buyouts have become more common, especially with players with under three remaining years on their contracts. And it’s not just the big name busts that have seen the ax lately – we’ve seen lesser names at lesser money take the fall for their respective teams, then needing to scramble for work elsewhere in the league. Additionally, salary retention in trades has become a more utilized tactic as of late. Teams with “unmovable” contracts have offered to retain part of a poor contract in order to entice a team into giving them some relief.

All this said, some teams have been better with foresight than others. Some teams have shown a track record of being entirely unable of handing out poor contracts over the past five or so seasons. Considering many teams showed some progress in being more frugal this off-season, it seems a wise time to review the dead space every team has accumulated, either due to poor management decisions or poor luck.

Colorado Avalanche – $4.83 MM in 2017-18, issues resolved after current year – Francois Beauchemin buyout; Cody McLeod retained

Arizona Coyotes – $4.61 MM in 2017-18, issues resolved after 2020-21 – Mike Smith retained; Mike Ribeiro, Antoine Vermette buyouts

Columbus Blue Jackets – $4.025 MM in 2017-18, issues resolved after 2020-21 – Fedor Tyutin, Jared Boll, Scott Hartnell buyouts

Carolina Hurricanes – $3.71 MM in 2017-18, issues resolved after 2020-21 – Eddie Lack retained; Alexander Semin, James Wisniewski buyouts

Toronto Maple Leafs – $3.28 MM in 2017-18, issues resolved after 2021-22 – Tim Gleason, Jared Cowen buyouts; Phil Kessel retained

Nashville Predators – $2.83 MM in 2017-18, issues resolved after 2018-19 – Viktor Stalberg, Eric Nystrom, Barret Jackman buyouts

Boston Bruins – $2.73 MM in 2017-18, issues resolved 2019-20 – Dennis Seidenberg, Jimmy Hayes buyouts

New York Rangers – $2.61 MM in 2017-18, issues resolved after 2022-23 – Dan Girardi buyout

Minnesota Wild – $2.5 MM in 2017-17, issues resolved after current year – Thomas Vanek buyout

Los Angeles Kings – $2.4 MM in 2017-18, issues resolved after 2023-24 – Matt Greene buyout; Mike Richards termination/recapture

Edmonton Oilers – $2.33 MM in 2017-18, issues resolved after 2020-21 – Lauri Korpikoski, Benoit Pouliot buyouts

Anaheim Ducks – $2.21 MM in 2017-18, issues resolved after 2023-24 – Mark Fistric, Simon Despres buyouts; Patrick Maroon retained

Vancouver Canucks – $2.13 MM in 2017-18, issues resolved after 2021-22 – Roberto Luongo, Jannik Hansen retained; Chris Higgins buyout

New Jersey Devils – $2.09 MM in 2017-18, issues resolved after 2023-24 – Mike Cammalleri, Devante Smith-Pelly buyouts; Ilya Kovalchuk recapture

Tampa Bay Lightning – $1.83 MM in 2017-18, issues resolved after 2019-20 – Matt Carle buyout

Calgary Flames – $1.82 MM in 2017-18, issues resolved after 2018-19 – Mason Raymond, Lance Bouma, Ryan Murphy buyouts

Detroit Red Wings – $1.67 MM in 2017-18, issues resolved after 2020-21 – Stephen Weiss buyout

Dallas Stars – $1.5 MM in 2017-18, issues resolved after 2018-19- Antti Niemi buyout

Philadelphia Flyers – $1.5 MM in 2017-18, issues resolved after current year – R.J. Umberger buyout

Winnipeg Jets – $1.46 MM in 2017-18, issues resolved after 2018-19 – Mark Stuart buyout

Florida Panthers – $1.33 MM in 2017-18, issues resolved after 2018-19 – Jussi Jokinen buyout

Las Vegas Golden Knights – $1.1 MM in 2017-18, issues resolved after current year – Alexei Emelin retained

Ottawa Senators – $350,000 in 2017-18, issues resolved after current year – Andrew Hammond buried

Buffalo Sabres – Minimal in 2017-18, increased issues ($791,00) resolved after 2022-23 – Cody Hodgson buyout

 

 

Chicago Blackhawks, St. Louis Blues, Washington Capitals, Pittsburgh Penguins, New York Islanders, San Jose Sharks,  Montreal Canadiens – No dead cap space

After compiling the list, it became clear that utilizing these options isn’t a complete hindrance to competing in the NHL. In fact, most clubs have between $1 MM and $3 MM in dead space. That said, of the teams that have not needed to utilize the buyout or retention options, there has been a great deal of success. And among the five worst offenders, the Leafs, Hurricanes, Blue Jackets, Avalanche, and Coyotes, none has moved past the first-round in multiple years. It’s hard to draw massive conclusions without taking the context of each individual situation into account, but there is something to be said for making every dollar of cap space count. Perhaps this is merely a byproduct of past success rather than an indicator of future success, but considering how amenable many managers have become to the option, it bears consideration.

(All totals courtesy of the fantastic CapFriendly.com)

Flames Sign Jon Gillies and David Rittich

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The Calgary Flames have announced deals to secure their organizational goaltending depth, by signing both Jon Gillies and David Rittich to one year, two-way contracts. Gillies and Rittich have 80 minutes of NHL game experience between them, but should constitute a solid duo in the AHL affiliate Stockton. Either could be called up in case of injury, but Gillies is the more intriguing signing of the two.

For an organization who needed to clear the pipes after an embarrassing first-round sweep at the hands of the Anaheim Ducks, the team found two capable goaltenders in Mike Smith and Eddie Lack. That said, it is important for the Flames to have options in the eventuality of injury and/or poor performance. Gillies in particular has the potential to improve mightily this year. He had his NHL debut, a 4-1 win, last season, in addition to splitting the starting role (39 GP) in Stockton. The Providence alum has impressive size at 6’6, which makes him quite appealing. If he were able to bring his save percentage up from last season’s .910, he could get his fair share of action in the near future. His biggest test will be the sheer amount of games he will be relied upon this year – he’s never played more than 39 games in a season, pro or college. He does have poise going for him, and the pedigree he brings as a third-rounder means GM Brad Treliving and crew will be keeping a close eye on his progression.

Rittich also saw NHL action this season, in relief for a single period against the San Jose Sharks in April, where he conceded only one goal. Rittich, 6’3, was signed last year from the Czech Extraliga, but came quite in handy when Gillies went down to injury. He posted better stats (.924 save percentage) through his 31 games, and became the starting goaltender for the team in the playoffs where the team was quickly bounced. The Flames will want to provide Gillies solid competition to regain his net, and Rittich certainly fits that bill. His athleticism is not nearly on par with that of Gillies, but the technical aspects of his game are more refined at present. Going undrafted and being nearly a complete unknown, Rittich will need to prove that last year’s performance wasn’t a fluke if he wants to secure his North American future.

These deals are interesting in part because it seems to indicate that Calgary is still not totally certain of its long-term future when it comes to goalies. Neither of these players are certainties, while both of their NHL goaltenders are on short-term contracts. Lack, 29, only has one year remaining, while Smith, 35, has only two. Naturally, the Flames have selected goaltenders in early rounds in the past few years to stock the pipeline. Their 2014 second-round pick was utilized on Mason McDonald, then of the Charlottestown Islanders, while their 2016 second-rounder was used on London’s Tyler Parsons. McDonald struggled quite mightily in his over-age years in Charlottestown, and only played one game for Stockton in 2016-17 before spending the season in the ECHL. With the Rittich/Gillies duo locked up, he doesn’t have much of a path forward. Parsons looks far more promising, as the starter for London showed a moderate improvement in numbers while holding steady through the team’s playoff run. Still, at only 19, it’s nearly impossible to determine how he will progress from here. He could theoretically turn pro this season, as mentioned by the team’s goalie coach, but these signings will provide him with stiff competition for playing time. Calgary is certainly hoping that he can shine in the near future, but there are no guarantees. Ultimately, it’s a goaltending free-for-all in the Flames organization, and management is  hoping that at least one of their prospects will pan out.

Flames Notes: Ferland, Bennett, Iginla

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Micheal Ferland re-signed this Thursday with Calgary, and apparently he’s slotted for big things this year. Adam Gretz of NBC Sports reports that Ferland will play on the top line with Johnny Gaudreau and Sean Monahan. Ferland will be playing as the third wheel to the talented duo, but should be a productive member. Ferland has yet to cement himself as a consistent offensive producer, so this vote of confidence should be taken as a sign of his internally perceived value. With only 25 points last season, he’ll need to find a bit more of a knack for playmaking in tight spaces. As Gretz mentioned, he has posted a positive Corsi (52%) in the minutes he paired with the Gaudreau-Monahan duo. If nothing else, he’ll open up room for the line with his heavy forechecking style and if he stays with those two long-term, look for his next contract to be a good deal more expensive.

  • Sam Bennett is the only major RFA the Flames have yet to sign. He’s also a bit of a confusing commodity. He really regressed offensively in a manner no one was anticipating last season, and it’s hard to ascertain how much that will impact his upcoming deal. The Flames would likely like to lock him up for some of his UFA years, but Bennett seems to think he can prove his value in the immediate future. He remarked to the National Post’s Al Charest after their first round series that he’s “just getting started”, and it’s easy to believe him. He has incredible hands and seems more well-rounded than when he entered the league, even if he struggled to produce in 2016-17. His Corsi only went down slightly (.6%) while his Fenwick went up, and he did face a tougher quality of competition. Odds are that Bennett bounces back and earns a heftier long-term contract down the road. For now, somewhere around $3 MM seems a safe bet.
  • The two parties haven’t been linked, but at this late date might Calgary show an interest in reuniting with Jarome Iginla? Iginla has wanted a place on a contender for the last half-decade, and Calgary has shown that they could compete in the immediate future. Adding Mike Smith in net, adding Travis Hamonic and re-signing Michael Stone on the back-end, and with the youngsters another year older, they could do some damage come spring. One of Alex Chiasson or Kris Versteeg might need to slot down a healthy lineup on occasion if it were to happen, but Iginla would provide some invaluable leadership for the young core on a dirt-cheap deal. They have the cap room to make it happen if they so desire.

Who’s Playing On Another Team’s Dime?

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The most recent CBA introduced retained salary transactions—trades where a team trade a player but agree to pay a percentage of his salary. This is ideal when a team wants a player but will have trouble fitting him in under the cap. The ability to retain salary comes with restrictions, however, so let’s briefly look at how retained salary transactions work before looking at which players are subject to them.

  1. A team can retain up to 50% of a player’s average salary (including bonuses);
  2. The retained salary amount is uniform over the full length of the player’s contract;
  3. A team can retain up to three players’ salary at one time;
  4. A team cannot have more than 15% of the salary cap devoted to retained salary;
  5. A team cannot retain salary on a player who is already subject to two current retained salary transactions;
  6. If a team acquires a player with retained salary, then trades him while also retaining salary, the second retained salary agreement cannot modify the initial retained salary agreement;
  7. Teams cannot reacquire a player within a year of trading him if it agreed to retain salary in the initial transaction (unless the player’s contract terminated);
  8. Retained salary obligations apply to any cap advantage recapture amounts; and
  9. Retained salary obligations still apply if a player is bought out or loaned to an AHL club. The NHL team would pay a portion of the player’s AHL salary (if applicable).

Read more

Red Wings Acquire Keeper Tom McCollum

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On the biggest signing day of the year, the Calgary Flames and Detroit Red Wings have instead been talking trade. The Flames have agreed to send goalie Tom McCollum, extended only for Expansion Draft purposes, to the Detroit Red Wings for a conditional seventh-round draft pick, according to TSN’s Darren Dreger. The Flames, who have recently added both Mike Smith and Eddie Lack in net and have to also accommodate prospects Jon Gillies and Mason McDonald, were reportedly working to loan McCollum out to another AHL team anyway. Instead, McCollum will head back to Detroit, the organization who drafted him and where he spent the first seven years of his career, presumably to back up Jared Coreau in the AHL.

Should Vegas Corner Goalie Market?

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With the recent trade of Mike Smith to Calgary, the market for starting goaltenders is dwindling even further. An interesting dynamic for the Vegas Golden Knights as they choose their team will be whether they opt to select every quality goalie out there in order to flip them to other teams. There are quite a few available – Marc-Andre Fleury of Pittsburgh, Eddie Lack (and Cam Ward) of Carolina, Calvin Pickard of Colorado, Antti Raanta of New York, Petr Mrazek of Detroit, Roberto Luongo of Florida, Jaroslav Halak of the Islanders, Michal Neuvirth of Philadelphia, Peter Budaj of Tampa Bay, and Philipp Grubauer of Washington, with a few interesting prospects also exposed.  As we’ve seen in the past few seasons, dealing a goaltender for anything remotely resembling fair value can be an enormous challenge. The salary cap has really warped the value of a solid starting goaltender in a way that has not been totally beneficial to the players.

One down season and a tender’s value goes down quite heavily. The top ten goalies in the league always seem to find a home on the rare occasion they hit unrestricted free agency, but that has been a rare occurrence. Many might point to the 2010 Stanley Cup Final when they isolate a particular moment that the highly-paid goaltender became an oddity. In that Final, Michael Leighton, third-string for Philadelphia, faced off against the very pedestrian Antti Niemi, who was then  sacrificed for cap reasons. With the whole league watching, these teams ascended to hockey’s main stage with relative no names in the crease. While that moment may have been particularly damaging, the moment for me was the fiasco that was the Luongo and Cory Schneider trade saga in Vancouver, which lasted parts of 2 seasons. Then Canucks GM Mike Gillis had a terrible time finding a suitor for Luongo before finally being forced to ship Schneider off in the 2013 offseason for a 9th round pick. This too, was terrible value, considering that Schneider was one of the best young goalies in the league and coming off a scorching season where he had a .937 save percentage. This ordeal took place less than two years after Luongo had taken the team to its first Final since 1994. Granted, Luongo’s contract was considered a bit of an albatross, but it very publicly cemented the value of goaltenders on the trade market as minimal.

Looking forward to the present day, and the last two goaltenders have been traded for rather uninspiring returns. Arizona’s Smith only fetched a 3rd rounder, and Ben Bishop only netted a 4th from Dallas. GM George McPhee could end up hosting a goaltender buffet, with few paying customers. He would be wise to gauge the interest of other teams before deciding on their selections in net. They obviously want to draft a solid starter and a few young goaltenders as future cornerstones. They need to draft 3, and it’s difficult to envision them drafting less than 4 with the enticing names available out there. But if they decide to go into 5 or 6 goaltender territory, McPhee could manufacture a logjam that could be difficult to sort out. After all, only the WInnipeg Jets are truly desperate for a starting goaltender, and that’s assuming they don’t want one of Brian Elliott, Mike Condon, or another UFA to be their partner for Connor Hellebuyck. Philadelphia could be interested in a younger asset, and there are always teams who will desperately seek a starter mid-season when a keeper inevitably goes down to injury. That said, the market simply doesn’t favor the strategy of going all-in in net.

Early Expansion Protection News: Capitals, Kings, Flames, Predators, And More

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The 2017 NHL Expansion Draft is an exciting process. If you’re too riled up to wait until the lists are officially submitted in the morning, you’re in luck. As could be expected, information leaks are flooding in on who was and wasn’t protected by their teams ahead of the deadline this afternoon. This list will be updated all night long as more news comes in:

  • One not so obvious choice has been made in Nashville. Adam Vingan of The Tennessean answered a question on the minds of many, reporting that the Predators did in fact protect forward Calle Jarnkrok. With the rest of the eight-skater list all but set in stone with goalie Pekka Rinne, defensemen Roman Josi, P.K. Subban, Ryan Ellis, and Mattias Ekholm, and star forwards Filip Forsberg, Ryan Johansen, and Viktor Arvidsson, the final forward spot came down to Jarnkrok, signed long-term, or James Neal, an elite scorer with just one year remaining on his contract. It seems that Neal will be open for selection, alongside names like Colton Sissons, Colin Wilson, and Craig Smith. Vignan adds that no deal has been struck between Vegas and the Predators to protect any of those players, with Nashville especially liking to retain Neal and Sissons.
  • Sportsnet’s Elliotte Friedman reported that, interestingly enough, young Detroit Red Wings defenseman Xavier Ouellet was not protected by his team. This is the first real surprise of the expansion process and the first protection news that doesn’t match up with PHR’s Expansion Primer projections. The 23-year-old skated in 66 games this season for Detroit, third most among defenseman, and his 12 points tied that of top-pair man Danny DeKeyser. Yet, Ouellett will not join DeKeyser and Mike Green in protection, instead beaten out by another teammate. GM Ken Holland, who has gotten the reputation of perhaps being too loyal, possibly chose aging veteran Niklas Kronwall over Ouellet. Hopefully that doesn’t come back to bite the rebuilding Red Wings.
  • Another name confirmed to be unprotected is young Vancouver Canucks center Brendan Gaunce. Vancouver sports anchor Rick Dhaliwal was told that that Gaunce, a 2012 first-round pick, did not make the protection list for the Canucks, expected to be a 7/3 format, meaning that the team saw him as outside the top seven forwards on the team. The 23-year-old two-way specialist has upside, but after registering just five points in 57 games last season, no one will blame Vancouver for that choice.

Flames Acquire Mike Smith From Coyotes

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The Flames and Coyotes have agreed on a trade that sends goaltender Mike Smith to Calgary in exchange for defensive prospect Brandon Hickey, a conditional 2018 third round pick, and the negotiating rights to Chad Johnson.  The pick will become a second rounder if the Flames make the postseason in 2017-18.  Both teams have announced the deal.

Feb 13, 2017; Calgary, Alberta, CAN; Arizona Coyotes goalie Mike Smith (41) guards his net against the Calgary Flames during the first period at Scotiabank Saddledome. Mandatory Credit: Sergei Belski-USA TODAY SportsSmith has spent the last six seasons in the desert but is coming off a down season where he recorded a 2.92 GAA and a .914 SV% in 55 games.  He carries a cap hit of $5.67MM for the next two seasons and at the age of 35, he’s not a great long-term fit for an Arizona team that is clearly in a rebuilding process.  He also has a partial no-trade clause and can block a trade to eight teams.  Arizona will retain 25% of the contract in the trade.

Calgary brought in a brand new goaltending tandem last summer in Brian Elliott (trade with St. Louis) and Johnson Chad Johnson (free agency) but neither player really got the job done, posting identical .910 save percentages.  Both players are set to become unrestricted free agents in two weeks time.  The Flames’ 2018 3rd rounder had been included as a conditional pick in the Elliott trade last June (contingent on him re-signing) and the fact it has again been dealt here is pretty much a guarantee that Elliott won’t be back.

Flames GM Brad Treliving is certainly familiar with Smith as he was the assistant GM with the Coyotes when the netminder was signed to his current contract.  With two years left on Smith’s deal, the length of the contract is ideal as the team is hopeful that some of their youngsters such as Jon Gillies or David Rittich will be ready to make the NHL jump within the next year or so while the team also has youngsters Tyler Parsons and Mason McDonald in their system.

Johnson has bounced around in recent years and hasn’t spent more than one year in an organization since his time with the Rangers from 2009-10 to 2011-12.  He played in 36 games with Calgary, compiling a 2.59 GAA along with that .910 SV%.  Johnson has also spent time with the Bruins, Islanders, Sabres, and the Coyotes (four games back in 2012-13).

Hickey was a third round pick of the Flames (64th overall) back in 2014.  He recently completed his third season at Boston University, recording four goals and 11 assists in 35 games.  He was also part of Team Canada’s World Junior entry back in 2016.

Sportsnet’s Elliotte Friedman was first to report the two teams were working on a trade. TSN’s Bob McKenzie was the first to report the draft pick and Hickey’s inclusion with TSN’s Aaron Ward added Johnson’s inclusion.  Sarah McLellan of the Arizona Republic was the first to add the conditional pick details.

Pacific Notes: Foo, Tanev, Treliving

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The Union College standout Spencer Foo looks to be closing in on a decision as to where he will sign in the NHL. The right-winger netted an impressed 62 points in 38 games as a junior. An Edmonton native, he appears to be closing in on signing with the Edmonton Oilers, per Jim Matheson of the Edmonton Journal. He has also been linked to the Flyers, where he would almost certainly see a more favorable landscape when it concerns openings in the top-12 forward group. Foo, leading scorer of the Dutchmen, was announced as one of the 10 semi-finalists for the Hobey Baker award. The forward plays a gritty, greasy game and already appears to have embraced the physicality of an adult game. He has enough offensive upside to easily grow into a top-9 role.

  • Dallas is still on the hunt for a defenseman to aid newly acquired Ben Bishop, and according to Matheson have interest in Vancouver’s Chris Tanev. He only played 53 games last season, and struggled a bit alongside the rest of his Canuck teammates. Matheson ponders whether Dallas would be willing to move the #3 pick if more pieces were added, but this is difficult to imagine unless the addition is a far bigger get, probably including the Canucks’ own #5 selection. Second pairing defenseman are generally worth 2nd or 3rd rounders, whereas Dallas will have the opportunity to draft a real difference maker at their current position, conceivably standout defensive prospect Cale Makar. Dallas wants to compete now but the decision ultimately lies in Vancouver’s court.
  • Calgary has a large decision ahead of them, and it seems as though they could be the icebreaker on the goalie front. GM Brad Treliving has tough work ahead – the Flames seem intent on letting Brian Elliott go after his post-season struggles, and he’s arguably the best free agent goalie available. The team has been linked (with varying degrees of certainty) in trade talks to New York’s Antti Raanta and Pittsburgh’s Marc-Andre Fleury, and Arizona’s Mike Smith is a name that has been widely mentioned as available. Treliving will likely want to sort the situation out before July 1st when the pickings will get far slimmer. Peter Budaj and Mike Condon are options, but there will be other teams lobbying for their services.

Mike Smith Submits No-Trade List; Coyotes Listening To Potential Offers

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Pierre LeBrun of TSN in both Insider Trading and on Twitter that the Arizona Coyotes are indeed listening to offers on goaltender Mike Smith, despite calling him their “rock” recently. LeBrun reports that at least three teams, including the Calgary Flames, have already made inquiries. Smith, who has a no-trade clause that allows him to block deals to eight teams has recently submitted his new list.

All season, GM John Chayka has spoken about how he isn’t keen on trading Smith as he considers solid goaltending to be part of the development process. That said, he’s willing to admit that if someone offers them something substantial for the goaltender he’d have to listen. The Coyotes, who will likely want to stop rebuilding and contend for the playoffs in the very near future, have to decide whether Smith can be effective when they’re ready to do just that. Already 35-years old, Smith is coming off an All-Star season and has two years remaining on his contract. He may still have some substantial value, especially to teams like Calgary who think they can contend for the Stanley Cup with some improvement in net.

Smith has been in Arizona for six seasons, putting up a solid .916 over that time and even garnering Vezina votes in 2012. If he were moved, the goaltending torch could be passed to Louis Domingue, though it’s not clear he has the ability to be an above average starter in the league. The Coyotes also have Adin Hill on the way, but it will still be several years until he’s ready for an impact role with the team.

On Calgary in particular, LeBrun mentions that he thinks their first choice would be Marc-Andre Fleury. There have been many reports that Fleury is already ticketed for Vegas, but perhaps the Flames could come in and offer even more for him at the last minute. When Ben Bishop and Scott Darling were traded for and signed by Dallas and Carolina respectively, it removed two other options from the Flames’ board, leaving players like Smith as a sort of back-up plan should they be unable to land anyone else.

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