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Steven Stamkos

Salary Cap Report: Atlantic Division

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As the hockey world takes its collective breath before the World Cup, training camps, and the regular season begins, most teams have checked off their boxes and marked their ledgers. There are some teams not finished, as trades or financial meandering will be necessary due to cap crunches. Others have plenty of room.

We’ll start with the Atlantic Division, which houses the team with the greatest amount of red ink in terms of cap space–the Detroit Red Wings. Some interesting notes:

The specifics are below:

Snapshots: Lightning, Subban, Patrick, Coyotes

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The Bleacher Report’s Adrian Dater answered Twitter questions today, and when asked which team won the off-season, he went with the Tampa Bay Lightning. Dater’s reasoning is popular, that GM Steve Yzerman managed to convince his biggest name player, Steven Stamkos, to stay at a price lower than many expected, he was able to re-sign Victor Hedman a year before free agency, and extended Alex Killorn as well, while leaving more than enough cap space to re-sign Nikita Kucherov long-term.

With respect to Dater, and he’s far from alone in saying this, it’s not really as thrilling as the names involved would imply. Yzerman carries a sort of reverence through the hockey world, and will be praised profusely with little effort, despite the fact that his accomplishments this off-season are mostly things contending team GMs do with little problem. Dallas Stars’ forward Jamie Benn also signed a long term contract a year out from free agency, and the Blackhawks’ Patrick Kane and Jonathan Toews have never really come close to the open market. Stamkos getting as far as speaking to other teams is an anomaly itself. After Yzerman’s messy situation with Stamkos’ mentor Martin St. Louis, his re-upping of a coach who Stamkos reportedly dislikes, and who played him out of position, his offer which was well below what others were willing to pay, and the trade demand by the team’s best young player in Jonathan Drouin, it’s fair to wonder if this was really a wooing by Yzerman, or if he Stamkos signed because he looked around at the other options and couldn’t find a fit. Yzerman has done some great work in Tampa, but Stamkos staying rather than taking more money from his hometown Toronto Maple Leafs, or close to home Detroit Red Wings or Buffalo Sabres, is likely the result of the work Yzerman did years ago in making the Lightning a team a player wouldn’t want to leave to begin with. Yzerman’s best move of 2016 may just be not giving into Drouin’s trade demand, understanding the leverage he held, the attractiveness of the Lightning situation, and the fickleness of the typical 21 year old.

More snapshots from around the hockey world:

  • NHL.com has some quotes on PK Subban today from around the Predators’ organization. Subban touches on the lack of distraction in Nasvhille, and GM David Poile responds to talk about Subban’s personality saying that while some would prefer a more homogeneous group, the Predators “don’t want that. We can’t win with 20 players that are exactly the same, either skill-wise or personality-wise. I want different types of players, and I want different personalities.”
  • James O’Brien at NBC Pro Hockey Talk profiles the Brandon Wheat Kings’ Nolan Patrick today. Patrick, the son of former NHLer Steve Patrick, and newphew of former NHLer James Patrick, is expected to be taken with the first pick in the 2017 NHL entry draft.
  • Craig Morgan of Arizona Sports quotes on Twitter Coyotes GM Jonathan Chayka suggesting that today’s signing of former Kings’ defenseman Luke Schenn could open up room for the team to offload an extra defenseman.

Atlantic Notes: Boston, Brassard, Stamkos

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Yesterday, Boston completed an under-the-radar coaching move, promoting Kevin Dean to head coach with the Providence Bruins.  Dean has been part of the Bruins organization for a long time now, including spending the last five seasons as an assistant in Providence.

With his promotion, current NHL bench boss Claude Julien’s rear-end is now squarely on the hot seat (if it wasn’t already, after missing the playoffs for two straight seasons), and another disappointing year may cause the loyal Dean to make another jump. The 47-year old’s best skill may be his ability to develop young defensemen, and will have a strong group to work with in the AHL this season.

  • Ken Warren of the Ottawa Citzen writes that experience was a big factor in the Senators’ decision to trade for Derick Brassard yesterday. The team had to give up 23-year old Mika Zibanejad to do it, but they feel that the veteran Brassard was worth the loss. With 563 NHL games under his belt, the 28-year old has established himself as a legitimate second-line center in the NHL, capable of playing in both ends of the rink.  He and Zibanejad will try to build on 2015-16 with their new clubs, after each scored 50+ points last year.
  • Yesterday agent Pat Morris was on TSN 1050 discussing the interview window that Steven Stamkos experienced before ultimately re-signing with Tampa Bay this year, and (via Chris Nichols of Today’s Slapshot) confirmed that a team could have sponsorship representatives in the meeting with the player to entice him somewhat. When asked if the Canadian Tire CEO was in the Maple Leafs meeting, Morris was a little diplomatic in his answer: “If there were any meetings, and if Canadian Tire was there, Canadian Tire owns Sport Chek, and Steven Stamkos has an existing deal with that company.”  

Snapshots: Stamkos And Subban

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The Steven Stamkos bidding war was ended very quickly by the player re-signing with the Tampa Bay Lightning. Stamkos was pitched by just three teams (Montreal, Buffalo, Toronto) before ending the process. That may be because of the Maple Leafs’ pitch, according to Steve Simmons of the Toronto Sun.

While teams bringing in big names to woo players isn’t uncommon (Oilers legends Paul Coffey and Wayne Gretzky were famously involved in the Oilers acquiring Justin Schultz), the Maple Leafs may have gone overboard. Back in June, Simmons reported team president Brendan Shanahan, GM Lou Lamoriello, Toronto mayor John Tory, and Canadian Tire CEO Michael B. Medine all met with Stamkos to sell the Maple Leafs, Toronto, and potential endorsement opportunities. Simmons reported Sunday that after the meeting, Stamkos told his agent that he didn’t want any more meetings and he wanted to speak with Lightning GM Steve Yzerman. He was officially re-signed two days after his meeting in Toronto.

Other notes from around the league:

  • It was reported shortly after the P.K. Subban/ Shea Weber trade on June 29 that Nashville Predators would not honor Subban’s no-trade clause (NTC). Vice Sports columnist Sean McIndoe explored the bizarre rule that allowed the Predators to nix the clause one day before it was supposed to come into effect. Essentially, the CBA rules state that those clauses are binding to the acquiring team, unless the clause hasn’t come into effect yet. An NTC is often a hard-fought-for part of a contract, with players sometimes taking concessions on salary or term in order to get it. However, its doubtful that Subban made any concessions to get one, considering he will make $9MM per year until 2022. And while its also unlikely that the Predators will trade their new superstar, Subban would have no say if they decided to move him out before the end of his contract. Our Mike Furlano has previously explained no-trade and no-move clauses in more depth.
  • Canadiens GM Marc Bergevin told NHL.com that he has stayed away from reading media reports about the Subban trade, saying fans and media are guessing at what goes on behind the scenes. The Canadiens GM says he wants to “unplug” after a tough season. Bergevin also spoke about comparisons between the Patrick Roy trade and the Subban one, saying Roy won “two Stanley Cups … I’ve always believed that winning a Stanley Cup changes everything”.

Atlantic Notes: Vesey, Kane, Red Wings, Stamkos

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While he is still expected to test the free agent market on August 15th when his negotiating rights expire, Jimmy Vesey will sit down with representatives from the Sabres on Thursday, writes Amalie Benjamin of NHL.com.   Buffalo traded a third round pick in last month’s draft for the rights to talk to him early and to get to make their pitch to him before anyone else can.

Toronto and Boston are also believed to be on Vesey’s shortlist though he’ll undoubtedly have no shortage of suitors once he’s able to talk to all teams in mid-August.

More from the Atlantic Division:

  • Still with the Sabres, winger Evander Kane will face non-criminal harassment charges stemming from a bar incident on June 24th, reports Lou Michel of the Buffalo News.
  • While Detroit GM Ken Holland acknowledges that the team would still like to add some help on defense, it may take a while for that to happen as he told Gregg Krupa of the Detroit News that a decision may not be made until September. The Red Wings appear to currently have a surplus of forwards that could potentially be used to acquire a blueliner but it may take until training camp to sort out which ones could possibly be expendable, depending on the continued development of youngsters such as Anthony Mantha and Andreas Athanasiou.
  • Tampa Bay C Steven Stamkos doesn’t appear to have any lingering effects from the blood clot that caused him to miss most of the playoffs, telling Lightning beat writer Bryan Burns that he is already into his full offseason workout routine. That’s certainly a positive sign for both him and the team after Stamkos agreed to the richest deal of the offseason at eight years and $68MM.

Snapshots: Hedman, McRae, Predators

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Even with the recent decision in the NBA of Kevin Durant heading to the Golden State Warriors to create a ’super-team’, it’s still not very often that you see superstars take less money to stay in a place they feel comfortable. That’s what happened the past two weeks, as both Steven Stamkos and Victor Hedman re-signed for eight years (and considerably less money than expected) with the Tampa Bay Lightning, in part because of their personal bond. When talking to Pierre LeBrun of ESPN, Stamkos said just as much:

“Victor and I are extremely close friends. We came up in this organization as 18-year-old kids. To say that we’re going to be together for the long run, and on one team, that’s something special. A big reason why both of us stuck around is because of the relationship that we have as teammates and as friends as well.”

To see two superstars leave some money on the table and not even hit free agency is a rare one indeed in today’s sporting world, but we may be about to catch it again in Calgary.  Pending RFAs Johnny Gaudreau and Sean Monahan have expressed a similar sentiment, and hope to be together for ’the next ten years’. Here’s more from around the league:

  • The Columbus Blue Jackets have brought in former London Knight general manager Basil McRae to become their director of player personnel, according to a team release. After capturing the 2016 Memorial Cup, McRae will return to the club he worked for in 2013-14 this time in a more advanced role. With the signing, the Blue Jackets have also announced two promotions, Ville Siren moves from pro scout to director of amateur scouting, and Josef Boumedienne moves from pro scout to director of European scouting.
  • After being knocked out in the second round by the San Jose Sharks, the Nashville Predators came into the offseason with the plan to get faster on the back end. Buying out Barret Jackman after just his first year with the club was the first move towards that end, and bringing in Yannick Weber to replace him was the next. For what it’s worth, Weber seems to have turned down more money in Europe to stay in the NHL, according to Adam Vignan of the Tennessean.  Weber took a minimum deal of $575K to secure an NHL job with Nashville.
  • Flyers prospect Philippe Myers underwent hip surgery on Wednesday, and will not be participating in the Philadelphia development camp, according to GM Ron Hextall.  Myers went undrafted out of Rouyn-Noranda in 2014-15, but exploded onto the scene last season with 45 points from the back end. He’ll now try and work his way back from surgery to return to the Flyers’ future plans.

Lightning Extend Andrei Vasilevskiy

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After re-signing both Steven Stamkos and Victor Hedman to eight year extensions, the Tampa Bay Lightning have turned their attention to goal, re-upping Andrei Vasilevskiy for another three seasons, according to Chris Johnston of Sportsnet.  Vasilevskiy was still under contract for 2016-17, so the extension comes into effect after next season at $3.5MM per.

After being drafted in the first round in 2012, Vasilevskiy has continued his dominance of the KHL, AHL and now NHL, succeeding at every level.  Though the Lightning have former star goaltender Ben Bishop still under contract for next season, it would appear as though Vasilevskiy has taken over as the number one guy after performing well in the playoffs.

Since his extension doesn’t come into effect until after next season, the $5.95MM that is owed to Bishop isn’t completely handcuffing. The Lightning will still be paying less than $7MM total next season for what would be one of the best duos in the league.

Vasilevskiy, still only 21-years old, played 24 games last season with a .910 save percentage, but really made his mark in the playoffs where he increased that mark to .925. Even if he falters next season with a bigger workload, he looks like one of the best young goaltenders in the league, and is now under contract for a very reasonable cap hit.

Victor Hedman Signs Eight-Year Extension With Tampa Bay

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The turning of the calendar into July also means that players under contract for just one more season can officially negotiate contract extensions.  We already saw it with Jake Allen earlier today, and now the top 2017 UFA defenseman is off the board.

Victor Hedman has re-signed with Tampa Bay for eight seasons, according to Chris Johnston of Sportsnet. The 25-year old will earn $7.875MM annually, starting in 2017-18.

For the Lightning, this is the second huge contract extension of the last few days, following the Steven Stamkos deal on Wednesday afternoon. They have now guaranteed that their two best players will be playing with each other until 2023. With both players under contract for less than $17MM combined, GM Steve Yzerman has set up his club for long term success.

In Hedman, the Lightning are re-signing one of the best defensmen in the league.  Since going second overall in the 2009 draft, Hedman has been a mainstay on the blueline, logging over 20 minutes a night since he was 19. The last few years have seen an increase in offensive production as well, with his point totals climbing to 55, 38, 47 in the past three seasons.

Generally regarded as an elite possession defenseman, Hedman is still only 25 and is probably going to continue to improve. There may be Norris trophies in the future for this Swede, as he follows in countryman Nicklas Lidstrom’s footsteps as a positionally sound, physical-when-he-needs-to-be shutdown defenseman.

Atlantic Notes: Red Wings, Lightning, Bruins

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The Detroit Red Wings are apparently talking more with Darren Helm after many analysts figured his time in Detroit was up. This all changed after Steven Stamkos was locked up in an eight-year deal with the Lightning. Craig Custance tweets that both Helm and the Wings will talk until tomorrow when he becomes an unrestricted free agent. An afterthought after Drew Miller signed a one-year extension, Helm could fill a need at center now that Stamkos is off the market, though it will not be the type of production Stamkos would have generated. Helm, 29, has spent his entire career with the Red Wings.

Nick Cotsonika wonders where the Red Wings go from here after not even getting a chance to talk with Stamkos. Cotsonika reports that Stamkos would have been the first bona-fide superstar signing for Detroit in quite some time, and that a quarter-century of success has its drawbacks in terms of not drafting generational talent due to having lower draft picks. The Red Wings, Cotsonika writes, will have to be deft at not only acquiring the right free agent, but outbidding other teams without overpaying.

Other Central Division notes:

  • Speaking of Stamkos, Kevin McGran writes how the 25-year-old never intended to leave Tampa in the first place. Though he had the chance to be a “hometown hero,” Stamkos opted to stay with the Lightning where the opportunity to win a Cup remains very strong. McGran reports that not only did Stamkos sign for a very cap friendly $8.5MM, he did so knowing it was about $3MM less than what he could have received on the open market.
  • DJ Bean reports that the Bruins would have preferred to trade Dennis Seidenberg instead of buying out his contract. Bean writes that a source told him that general manager Don Sweeney never approached Seidenberg with a trade scenario. Seidenberg’s contract included a no trade clause until December. Bean surmises that this either meant no one was interested in taking Seidenberg’s contract or if willing to take it, they would have expected a return similar to the Blackhawks Bryan Bickell trade that included Teuvo Teravainen.

The Steven Stamkos Contract And Its Long Term Effects

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Had it happened at any point over the last year, Tampa Bay captain Steven Stamkos re-signing with the Lightning would have been the top story of the day and dominated the conversation. However, on a day where big names were being traded left, right, and center, the Markham-native forgoing unrestricted free agency seemed like a side note.

Sportsnet’s Elliotte Friedman reports the structure of Stamkos’ new contract being heavily bonus-laden: Stamkos will make a $1MM salary with the rest in bonuses. Friedman has the salary at five years of $9.5MM, followed by $7.5MM and two years of $6.5MM. That’s a total of $68MM over 8 years, for a cap hit of $8.5MM, which is only $1MM higher than his expiring contract.

It’s a similar structure to the contracts of David Clarkson and Ryan O’Reilly, with great benefits to the player in the event of a lockout or buyout: Stamkos will still get the signing bonus money if the NHL goes through another lockout in 2023 at the expiration of the current CBA. As well, should the Lightning ever want to buy him out (don’t laugh, they bough out Vincent Lecavalier), it would cost the team $2.83MM per season. That’s 283% of his actually salary. (Buyout calculation done on General Fanager).

The feel-good aspect of the signing is this: Stamkos took less money to stay than he could have gotten on the open market (not factoring taxes). He wants to retire a member of the Lightning. In the Lightning’s press release, Stamkos was quoted as saying “it’s not often that a player gets the chance to spend his career in one organization and I am hopeful that this agreement sets me on that path”.

However, the part that is going to make Lightning fans nervous is how it will affect the team around Stamkos. The team has $9.3MM in space for next season. However, leading scorer Nikita Kucherov still needs a new contract after being qualified earlier this week, as does two-way winger Alex Killorn. Those two contracts are doable; it’s next summer where it could get ugly. Top defenceman Victor Hedman, both starting goalie Ben Bishop and goalie-of-the-future Andrei Vasilevskiy, and forwards Jonathan Drouin, Tyler Johnson and Ondrej Palat will all see their contracts expire.

One of the goalies will likely be traded before then, but the rest of the group will cost serious money to keep together. Defenceman Matt Carle has two years left at $5.5MM and figures to be traded or bought out to save space for the upcoming group of free agents. This is also where gritty winger Ryan Callahan’s contract is going to hurt. Callahan will make $5.8MM annually until 2020, but scored just 28 points in 73 games last season and is on the wrong side of 30.

Wily GM Steve Yzerman will have his hands full again this season, after masterfully handling the Drouin and Stamkos sagas last season. It’s going to be a very interesting year for the Lightning and their fans.

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