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Salary Cap Deep Dive: Vegas Golden Knights

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Navigating the Salary Cap is probably one of the more important tasks for any general manager to have. Teams that can avert total cap chaos by walking the tightrope of inking players to deals that match their value (or compensate for future value without breaking the bank) remain successful. Those that don’t see struggles and front office changes.

PHR will look at every NHL team and give a thorough look at their cap situation heading into the 2018-19 season. This will focus more on those players who are integral parts of the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.

Vegas Golden Knights

Current Cap Hit: $70,812,500 (under the $79.5MM Upper Limit)

Entry-Level Contracts

F Alex Tuch (One year remaining, $925K)
D Zach Whitecloud (Two years remaining, $925K)

Among the many things that went right for Vegas was the play of Tuch, who was a surprise in training camp and quickly earned himself a full-time role. The 6-foot-4, 222-pound winger had an impressive rookie season with the Golden Knights, scoring 15 goals and 37 points with much of his playing time coming with the team’s third line. He only improved over time, showing an ability to get into the corners and extend offensive opportunities for the team. He tallied six goals in the playoffs as well, which allowed the Golden Knights to let go veterans James Neal and David Perron, knowing that the 22-year-old Tuch is ready to take his game to the next level. With one year remaining on his entry-level deal, expect him to become a key restricted free agent for the team next season.

Potential Bonuses

Tuch: $93K
Whitecloud: $93K

Total: $186K

One Year Remaining, Non Entry-Level

F William Karlsson ($5.25MM, RFA)
D Nate Schmidt ($2.23MM, UFA)
F Oscar Lindberg ($1.7MM, UFA)
D Deryk Engelland ($1.5MM, UFA)
F Pierre-Edouard Bellemare ($1.45MM, UFA)
F Tomas Nosek ($963K, RFA)
F Ryan Carpenter ($650K, UFA)
D Brad Hunt ($650K, UFA)
G Malcolm Subban ($650K, RFA)

The most important piece the Vegas Golden Knights need to lock up is Karlsson, who just signed a one-year deal with Vegas Saturday. However, now the team has just one year to lock up Karlsson, the team’s top scorer, to a long-term extension. Less than a year, actually, as the team can’t agree to an extension until Jan. 1, 2019. That gives Vegas time to see how 25-year-old will respond in his second year. After piling up 43 goals last season (and seven more in the playoffs), the team wants to see that he can put up similar numbers before handing him a major deal considering the most he’s ever scored in his NHL career was nine goals.

The team will also have to lock up the speedy Schmidt, as well to a long-term deal at some point. The 27-year-old was a key figure on the Golden Knights defense, posting career highs of five goals and 36 points, but also showed his mettle in the playoffs, putting up another three goals and seven points. He could easily get a similar deal to the one that Miller signed with the team (four years, $15.5MM) earlier in the offseason. With an influx of prospects likely to hitting the team for the 2019-20 season, several veterans will have to prove they deserve new contracts this coming  year, including Lindberg, Bellemare, Engelland, Carpenter, Hunt and Subban, although unless someone has a breakout year, none should cost the team too much.

Two Years Remaining

F David Clarkson ($5.25MM, UFA)
F Cody Eakin ($3.85MM, UFA)
F Ryan Reaves ($2.78MM, UFA)
F Erik Haula ($2.75MM, UFA)
D Nick Holden ($2.2MM, UFA)
D Jonathon Merrill ($1.38MM, UFA)
F William Carrier ($725K, RFA)

The team likely will have to pay up if they want to keep Haula. The team’s second-line center may move to the third line now that the team locked up Stastny to a free agent deal. However, if Huala can continue to produce like he did last season, the 27-year-old should be able to fetch a nice contract. He had a career-high in goals last season as he scored 29 and 55 points.

The team should also recoup some of their losses as well in two years as Clarkson’s deal will expire, so that will free up $5.25MM for the team as the team currently has to wait till the start of the season before they can place his contract on LTIR. Others like Eakin and Reaves will likely have to earn another deal over the next two seasons. Both had solid showings for Vegas this year, but will have to prove their consistency. While Reaves deal looks overpaid on paper, the team opted to give him three years worth of money as long as he only signed for two years.

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Snapshots: Offer Sheets, Hall, O’Gara

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With a limited pool of quality unrestricted free agents this year and quite a few impressive names among restricted free agents available, one has to wonder whether this might be the year that a team makes an attempt to pry away one of them with an offer sheet.

Sure, no team has used an offer sheet since 2013 when the Calgary Flames attempted to sign center Ryan O’Reilly away from the Colorado Avalanche. It didn’t work and since then, there hasn’t been one. Yet with names like Noah Hanifin, Dylan Larkin and William Nylander still available, you would think a team might attempt to go the offer-sheet route.

However, Craig Custance of The Athletic (subscription required) writes that won’t be happening this year, if again. The scribe informally polled nine general managers, who all collectively said there would be no offer sheets handed out this summer. One reason is that general managers see it as a way to drive up salaries, which they don’t want, and since almost all offer sheets are matched, then what would be the point? Custance adds that the compensation for offer sheets must be changed, so teams might be more willing to let a player go.

  • Chris Ryan of nj.com analyzes the success of Hart Trophy winners the following year they won, as he wonders how New Jersey Devils Taylor Hall will respond next season after winning the Hart Trophy with a 39-goal and 93-point season. While most of the previous winners (going all the way back to the 2006 season) saw a decline in their play the following year, most of them still put up solid numbers and still were in the voting for the Hart Trophy the following year, even if they didn’t win it. Edmonton’s Connor McDavid finished fifth in the voting the following year, while 2016 Hart Trophy winner Patrick Kane finished sixth the next season.
  • Fluto Shinzawa of The Athletic (subscription required) writes that former Boston Bruins defenseman Rob O’Gara, who was traded at the trade deadline to the New York Rangers as part of the Nick Holden trade felt the trade was bittersweet. The 25-year-old blueliner was still on his entry-level contract and had only played 11 NHL games before the trade, but the four-year Yale University product had already lost some faith in him. In a league where youth thrives, O’Gara had already run out of time as he failed to crack Boston’s rotation and was often passed over for promotion by younger defenseman. In New York, however, he got a legitimate chance to take on a more permanent role, as he played in 22 games, a role he hopes to hold onto this season.

Free Agent Profile: Luca Sbisa

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With many veteran defensemen continuing to look for work, it might take a while for them to find a home for the upcoming season. With Dan Hamhuis being the top remaining unsigned defenseman on our Top 50 UFA list, not far behind him is Luca Sbisa.

Sbisa is coming off an unusual season. Having been practically written off after a disappointing 2016-17 season with the Vancouver Canucks, the Vegas Golden Knights stepped in and selected the 28-year-old blueliner. While his contract might have been the biggest issue while in Vancouver (he was making $3.6MM for the previous three years), Sbisa proved that he wasn’t good enough to be a top-four defenseman when with Vancouver.

However, after being acquired by Vegas, suddenly Sbisa’s game showed up as the veteran started the season as a top-four defenseman and quickly found himself averaging more than 20 minutes per game. He was paired with Nate Schmidt and was even one of the leaders of the team as he wore an “A” on his sweater. With the team expected initially to move out some of their pending unrestricted free agents at the trade deadline, Sbisa looked to be a potential major trade chip for Vegas. Unfortunately, injuries got the best of Sbisa as the veteran missed chunks of time with numerous injuries and in the end played just 30 games.

By the time Sbisa came back, long after the trade deadline, the 28-year-old saw his playing time shrink as he took a third-pairing role late in the season and into the playoffs. In fact, his demotion seemed to be more of a result that other players played better after Sbisa was injured and because of that, the veteran saw a reduced role — not necessarily because he was playing poorly. Rather than bring him back on a reduced contract, the Golden Knights instead opted to sign veteran Nick Holden to take his place and supposedly never even made an offer to Sbisa.

Regardless, in just those 30 games Sbisa showed some promise if he can prove he can stay healthy. Despite those limited games, Sbisa proved he can provide offense as he tallied 14 points. Shockingly, that’s his second-highest point total in his 10-year career. He did, however, have one of the worst Corsi-For percentage of his career at 43.8 percent, which didn’t help.

Potential Suitors

While an offer could come at any time, many of the veteran defensemen looking for work may have to wait a while as teams assess their strength and weaknesses over the summer. Sbisa has a lot to offer and despite a 10-year career, he is just 28 and should easily be able to handle a third-pairing role with most teams.

There have been some rumors that Sbisa, who spent three years in Vancouver, might be looking to return to the Canucks who are short on depth options at that position, so that is a legitimate possibility. There have also been reports that the Chicago Blackhawks might be interested in bringing Sbisa into their depleted blueline although the same rumor exists for Hamhuis. He might also be a good third-pairing option in Toronto.

Projected Contract

Before free agency, we predicted Sbisa would garner a two-year, $4.2MM contract, but with little interest so far, it would be more likely that Sbisa will have to settle for a one-year deal and be forced to show that he isn’t as injury prone as he was in 2017-18. It’s far more likely a one-year, $1MM deal or just above it is the most likely possibility.

Free Agent Market Quiet For Veteran Defensemen

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Over one hundred free agents have signed a contract with a new team already this off-season. Of that group, just three of those signings are defenseman over the age of 30: the Pittsburgh Penguins’ Jack Johnson, the Vegas Golden Knights’ Nick Holden, and the Dallas Stars’ Roman Polak. While veteran goaltenders and forwards continue to garner major interest on the open market and land substantial contracts, it seems defenders of the same age and experience are not being valued similarly across the league. With the NHL trending more toward a speed and finesse game, older blue liners who depend on positional awareness and seasoned checking ability may no longer be able to compete for jobs with younger players at the position with fresh legs and an open mind.

Of PHR’s Top 50 NHL Unrestricted Free Agents, only nine remain unsigned. Two of those nine players – Rick Nash and Kris Versteeg – may not return to playing pro hockey. Of the seven remaining players, three are defenseman over the age of 30: Dan Hamhuis (#24), Toby Enstrom (#37), and Alexei Emelin (#42).  Good veteran defensemen are out there and make up some of the best available players, but are simply not drawing the interest that was expected. Other unsigned names include Brooks Orpik, Johnny Oduya, Kevin Bieksa, Dennis Seidenberg, Kyle Quincey, Paul Martin, Josh Gorges, and Jason Garrison, none of whom have made considerable noise on the rumor mill. 32-year-old Taylor Chorney even moved on to Switzerland due to a stagnant market for older defensemen.

Will several of these names sign an NHL contract prior to next season? Yes, however it’s unlikely that the majority will find meaningful employment if they haven’t already at this point in the summer. Of the remaining names, the most likely to land jobs are those closer to 30 without as much wear and tear on their bodies. The three players who have already found jobs – Johnson, Holden, and Polak – are all 32 or under. Emelin and Quincey at 32 have good odds, as do Enstrom and Gorges at 33. It would also be a major surprise if 35-year-old Hamhuis went unsigned. However, it would not be a shock to see only those five land a deal. This is a free agent market saturated in experienced, capable veteran defensemen, but few who can keep up with the NHL’s current pace of play. As a result, the supply greatly outweighs the demand and the free agent market for older blue liners could continue to remain quiet.

Golden Knights Re-Sign Lagace, Sign Fucale And Carr

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The Vegas Golden Knights are keeping the goalie pipeline well-stocked and continue to add competition at forward. As beat writer David Schoen details, winger Daniel Carr and goaltender Zach Fucale join Paul Stastny, Nick Holden, and Curtis McKenzie as newcomers to Vegas. Keeper Maxime Lagace has also re-signed with the team on a one-year, two-way deal worth $650K. Carr signed a one-year, one-way deal worth $750K, while terms for Fucale have not yet been disclosed.

Carr and Fucale are coming over from the Montreal Canadiens organization, and should help to fill out the roster for the Chicago Wolves. Vegas won’t have the luxury of the St. Louis Blues sending their prospects to the Wolves any longer, meaning Vegas needed to add some players to the roster. Fucale gives them another goaltending option, though the 23-year old still hasn’t been able to find much consistency since turning pro. Last season he posted just an .890 save percentage for Laval. Carr on the other hand made a mark for the Canadiens, scoring 16 points in 38 games. That production may give him a chance at the Vegas roster, though it’s obviously not a guarantee.

Lagace made his NHL debut for the Golden Knights this year, filling in while the team was dealing with multiple injuries. In 17 games he posted just an .867 save percentage, but did enough to keep the team afloat through the early part of the season. They’ve rewarded him with another year, though it would be need to be another dire situation to see him in the NHL.

Vegas Signs Nick Holden To Two-Year Deal

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The Vegas Golden Knights are adding a reliable body to the blue line, reportedly adding defenseman Nick Holden. While the team has yet to officially announce the deal, TSN’s Pierre LeBrun reports that Holden will sign for two years at $4.4MM, with an AAV of just over $2MM. The Golden Knights outbid the Boston Bruins who trying to keep him in the fold.

Holden provides the Golden Knights depth after the team parted ways from Luca Sbisa and a two-year deal keeps the team nice and short, which is what the Golden Knights were able to do with center Paul Stastny, who signed a three-year pact. Holden provides Vegas with a veteran defensive presence, but his best attribute is his size as he stands 6-foot-4.

Holden spent the last two years with the New York Rangers, but was traded at the deadline for a third-round pick and a lower-tier prospect to the Boston Bruins. However, the 31-year-old blueliner’s game is starting to decline as his numbers dropped from a year ago. After an 11 goal and 34 point season in 2016-17, he finished with four goals and 17 points between the two teams this season.

Free Agent Notes: Holden, Ellis, Namestnikov, Wilson

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The Vegas Golden Knights already surprised a few when they reached out and stole Paul Stastny away from Western Conference rival Winnipeg. However, the Golden Knights are apparently not done as The Athletic’s Pierre LeBrun reports that Vegas is the front-runner for unrestricted free agent defenseman Nick Holden.

Holden, who spent time with both the New York Rangers and Boston Bruins last season, would be a solid depth defenseman that could add to Vegas’ core. he averaged 19:00 ATOI between both clubs, but only posted four goals and 17 points on the year. However, the 31-year-old may be starting to show a decline in skills as he was a 34-point player in 2016-17 with the Rangers.

Incidentally, Holden is being pursued by two teams as the Boston Bruins are also vying for the blueliner’s services, according to Sportsnet’s Mark Spector. The Bruins, after all, gave up a third-round pick and low-end prospect Rob O’Gara at the deadline.

  • LeBrun also mentions that while Nashville Predators defenseman Ryan Ellis, who will be a unrestricted free agent in one year, can sign an extension as of today. However, the scribe writes that Nashville isn’t there yet. They intend to reignite talks with Ellis and his representatives within the next one to two weeks. Nashville wants to keep Ellis in the fold at all costs as the team has put major emphasis on having a dominant four defense. The team already has P.K. Subban ($9MM AAV) and Mattias Ekholm ($3.75MM AAV) locked up for four years, while Roman Josi ($4MM AAV) is signed for another two years.
  • The New York Rangers can breathe easier after the agent for restricted free agent Vladislav Namestnikov, Dan Milstein, refuted rumors that the forward was leaving for the KHL. Namestnikov, who was acquired from Tampa Bay at the trade deadline, but saw his playing time drop once he arrived in New York. After averaging 17:30 of ATOI as a Lightning, his playing time dropped to 15:43, along with his offensive production. After potting 20 goals with Tampa Bay, he managed just four points in 19 games with the Rangers. However, Milstein insists the rumors are not true and that Namestnikov believes playing in the NHL is a privilege and honor and an extension is in the works with the New York Rangers.
  • Mike Harrington of The Buffalo News reports the Buffalo Sabres are currently working on re-signing winger Scott Wilson. The 26-year-old was picked up in a December trade this last season from the Detroit Red Wings and played a regular role as a bottom-six forward. After not scoring a point in 17 games with Detroit, he tallied six goals and 14 points in 49 games in Buffalo.

Bruins Notes: Free Agents, Czarnik, Injuries, Draft

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Boston Bruins GM Don Sweeney spoke with the media today from the NHL Draft Combine in Buffalo and was very up front about the team’s plans this off-season. The Bruins exceeded expectations this season with a young team that finished with one of the best records in the NHL. Sweeney has previously stated that he would like to return many of the team’s impending unrestricted free agents – Anton Khudobin, Riley Nash, Rick Nash, Tommy Wingels, Tim Schaller, Nick Holden, and Austin Czarnik – but due to salary cap restraints and a promising prospect crop in the AHL in need of opportunity, he did not expect that all would be back. Today, Sweeney went in a different direction, confirming that the team would not offer new contracts to several other free agents: Brian Gionta, Kenny Agostino, and Paul Postma. The announcement should come as no surprise, as the trio all underwhelmed in Boston this season. A late addition to the team for the stretch run and postseason, Gionta looked as if he would have been better off retiring after the Olympics. The veteran forward contributed only seven points in 20 regular season games and played in just one playoff game, in which he was a liability against the fast-paced Tampa Bay Lightning. Gionta is likely to call it quits for good this off-season. Agostino, the 2017 AHL MVP, not only made little difference in Boston with just one point in five games, but finished the minor league season in Providence with 30 points less than his MVP campaign in only one less game. Agostino will need to search for a new home for the third straight summer. Postma, while not necessarily a disappointment in Boston, ended up being of little use to the team. The relative health of the Bruins’ four right-handed defenseman and the emergence of rookie Matt Grzelcyk on the left side made Postma the #8 option for much of the year. He was unable to even retain that role after the Bruins acquired Holden at the trade deadline. Overall, Postma played in 14 games in Boston, recording just one point, before clearing waivers and being assigned to the AHL, where he played another 17 games with Providence in the regular season and postseason. The long-time Winnipeg Jets defender will be on the hunt for a more regular NHL role next year, if he can find one.

  • Sweeney briefly touched on the situation with Czarnik, which has put the Bruins in somewhat of a pickle. Czarnik, 25, played in 49 games as a rookie with Boston in 2016-17, but lost out on a roster spot this year to the likes of fellow youngsters Jake DeBrusk, Danton Heinen, Anders Bjork, and Sean Kuraly. Czarnik managed to play in ten games for the Bruins, and looked good doing so with four points, but roster restrictions forced him back to the AHL each time. In the minors, Czarnik was unstoppable with 69 points in 64 games – good enough for third in the AHL scoring race. It was an impressive performance, but still not good enough to vault Czarnik back to the top of a Bruins’ prospect pipeline that is very deep, especially at center. Ideally, the Bruins would have liked to deal Czarnik as a restricted free agent with his value at its highest. However, as a 25-year-old with three pro seasons under his belt but less than 80 NHL games played, Czarnik instead qualifies for Group 6 unrestricted free agency per the NHL CBA and is free to sign with any team. Sweeney expressed that both the team and Czarnik have not closed the door on an extension, but that he feels Czarnik is “intrigued by what may exist elsewhere”. There will surely be a market for the swift, play-making forward and a return to Boston seems unlikely.
  • Sweeney also updated the injury status of his team, revealing that banged-up checkers Schaller and Noel Acciari both underwent surgery following the season. The Bruins’ fourth line, while not much of an offensive threat, was one of the best defensively this season. However, their play began to tail off in the postseason and the major injuries for Schaller and Acciari certainly lend some explanation to that trend. The duo were just two of myriad injuries for Boston, but join only Brandon Carlo in going under the knife. Sweeney stated that the rest of the injured – Torey Krug, Zdeno Chara, Patrice Bergeron, Brad Marchand, David Backes, DeBrusk, Nash, and Nash –  will all avoid surgery for now.
  • Finally, Sweeney responded to a question about whether or not he would try to trade back into the first round of the NHL Draft next month. The Bruins sent their first-rounder to the New York Rangers in the Rick Nash deal and do not own any other team’s pick. Sweeney seemed hesitant to promise anything, saying that it is “hard” to trade back in, but did add that “you never know what some team may want to do”. In a draft class that many feels runs out of elite prospects after the first  15 or so selections, Boston may not be scrambling to trade current or future assets for a first-round pick anyway. With a late second and an early third from the Florida Panthers, the Bruins should be able to add two players with similar career projections to some late first-round picks. Even if they don’t get a future star, the Boston system is one of the best in the league with more than enough talent pushing for play time in the NHL as it is.

Boston’s Torey Krug Ruled Out For Series

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5:39 p.m. — The Boston Bruins released an update that Krug will miss the rest of the series with the Tampa Bay Lightning. According to team physician Dr. Peter Asnis, Krug suffered an ankle injury and will require more testing to determine the severity of the injury.

3:53 p.m. — The news doesn’t look good for the Boston Bruins. Already down to their last game as they trail the Tampa Bay Lightning 3-1, the Boston Bruins learned today that they will be without star defenseman Torey Krug for Game 5, according to The Athletic’s Fluto Shinzawa.

The blueliner went down with a lower-leg injury when he crashed into the boards Friday in Game 4 and was forced to leave the game, although he was able to walk off on his own. However, the injury could also be enough to rule him out for the season as well.

“He’s out [for Game 5],” said Boston Bruins head coach Bruce Cassidy (via the Bruins). “He’s still getting evaluated, but doesn’t look good that it will be short term.”

A loss of Krug will be devastating as the team has used him to play big minutes all season, especially for the playoffs. He even played 25:16 in Game 3 against the Maple Leafs. Krug, who was one of the team’s healthiest defensemen this season, finished the season with 14 goals and 45 assists in 76 games. He has been an even greater offensive spark for his team with three goals and 12 points in 11 games. With a team that has already lost Brandon Carlo for the season with a fractured ankle, the team will have to step up if they have any hopes of winning three in a row. The team will move veteran Nick Holden into the lineup to play alongside Adam McQuaid.

New York Rangers Fire Coach Alain Vigneault

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Hours after putting up an egg in their 5-0 loss to the Philadelphia Flyers on Saturday, the New York Rangers fired their head coach Alain Vigneault after five years. After four playoff appearances, the Rangers struggled, finishing 34-39-9 on the season. In all, however, Vigneault had quite a bit of success in his time in New York, which included taking the Rangers to the Stanley Cup Finals in 2013-14, his first season with the team. He led the team to a 226-147-37 record over the five years.

The firing also came after Vigneault himself stated in his post-game press conference that he deserved to stay and defended his record, according to Newsday’s Colin Stephenson.

“Yes, yes. Without a doubt,’’ he said when asked if he thought he would hold on to his job despite the Rangers’ 34-39-9 record, which caused them to miss the playoffs for only the second time since the NHL lockout that canceled the 2004-05 season. “I think my staff is the right staff for this job. I think — and this is just my opinion — but I think one of the strongest assets of this organization is its coaching staff and their experience.’’

Some of Vigneault’s struggles were not his doing as the Rangers decided to rebuild on the fly, sending out a letter on Feb. 7, telling fans about their decision to rebuild the team. The Rangers followed that by selling off several veterans including Michael Grabner, Rick Nash, Nick Holden, J.T. Miller and captain Ryan McDonah.

However, Stephenson also points out several issues that came up this season that forced the Rangers to head in that direction. After re-designing its defense with the acquisitions of star free agent Kevin Shattenkirk and re-signing Brendan Smith, the team was hoping to possess one of the best defenses in the league. Instead, the team started slowly at 1-6-2 in its first nine games and was 3-7-2 after 12 in which Vigneault almost lost his job. The team was able to right the ship after that, but only because of the impressive play of both the team’s goaltenders in Henrik Lundqvist and Ondrej Pavelec. Neither goalie was able to sustain their great play.

Injuries also played a part. Shattenkirk was playing hurt, while Smith came into camp out of shape and never returned to form before eventually being sent down to the AHL. Winger Chris Kreider missed 24 games due to a blood clot that led to surgery on his ribs. Center Mika Zibanejad missed nine games with a concussion, while Shattenkirk had knee surgery in January and never came back.

The Athletic’s Rick Carpiniello writes (subscription required) that there were other reasons as well that stand out when it came to Vigneault. The coach’s lack of success at the blueline have been issues for years as his system had failed repeatedly. Vigneault had undergone three different defensive assistant coaches in three years, including Ulf Samuelsson, Jeff Beukeboom and Lindy Ruff and replaced most of the defense and still failed to get them going. His tough love was also an issue as he butted heads with many players, especially Miller and Pavel Buchnevich. However, the most telling numbers is the team’s record from Jan. 7 to Feb. 25, when Vigneault led the team to just a 5-16-1 record.

Vigneault has a 648-435-98 overall record throughout his career with the Montreal Canadiens, Vancouver Canucks and the Rangers. He won the Jack Adams Award as Coach of the Year in 2007.

TSN’s Bob McKenzie was the first to report the news.

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