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Topics in this edition of the PHR Mailbag include a discussion about a Cam Fowler trade scenario, plenty of goalie talk, and much more.  If your question doesn’t appear here, check back in last weekend’s mailbag.

wreckage: Do you expect Michkov or Bedard to be more impactful going forward? Bedard may have more skill, slightly. Michkov likely has a deeper team behind him at the moment. For the next three years… who has more impact in the NHL?

I’ll go with Connor Bedard for this one.  Yes, Chicago has a weaker team on paper right now but Philadelphia is still rebuilding as well, despite them nearly making the playoffs last season.  Both teams are probably on the outside looking in for at least the first two of those three years.  The good news is that Matvei Michkov should get a lot of runway to play big minutes quickly like Bedard did last season but there’s only so much impact he can have on a non-playoff team.

Generally speaking, I’m going to lean toward a high-end center having more of an impact than a high-end winger on a year-to-year basis.  Bedard will be a year further ahead in his development, entering what should be a very pricey second contract at a time when Chicago should be starting to take some steps forward in the Central.  He’s going to be a big part of that.  Not to say Michkov shouldn’t be an impactful piece by any stretch but I expect most players won’t be quite as impactful as Bedard should be in a few years.

riverrat55: Who is the 1st player with the upcoming increase in the Salary Cap to ask for $20MM?

Before tackling this, we need to figure out our target cap percentage that will cost $20MM.  Teams, players and agents use this percentage as a direct comparable in negotiations.  (For anyone wondering, 20% is the maximum, a rate we haven’t seen reached in quite some time.  I remember some when the first cap came out but that’s about it.)  Auston Matthews’ contract is 15.06% of the cap while Leon Draisaitl’s recent one checks in at 15.91%.  Connor McDavid’s current one is 15.72% and I could see it eclipsing the 16% mark (which, on a $92MM-plus cap, puts the AAV in the $15MM range).  For the sake of this hypothetical, let’s put a target cap percentage at 16.5%.

Let’s do some quick math here.  $20MM divided by 16.5% = $121.212MM.  Why does this matter?  We need to project when the Upper Limit of the salary cap might get to this amount to see who will need a contract at this time.

This year, the cap is $88MM with a 5% capped increase next season and the year after that.  That would make the ceiling $92.4MM in 2025-26 and $97.02MM in 2026-27 before the CBA expires.  (The league did make this year’s cap a bit higher than the 5% increase so this isn’t a perfect scenario but close.)  It wouldn’t shock me to see a bit more of a jump after that, assuming revenues stay on their current trajectory.  Let’s say it’s a 10% boost post-CBA.  That makes the cap $106.72MM in 2027-28.  Let’s forecast 7% increases on average after that.  In 2028-29, it would be $114.19MM and in 2029-30, it’d be $122.19MM.  So, the 2029-30 season is the earliest we could see that price point.

Assuming that most core players will continue to sign max-term deals, that probably takes McDavid off the table.  Cale Makar is up in 2027 so he’s off the table.  Matthews’ deal expires in 2028 so he’s not going to get there either.  The rest of the established elite will either be signed through that time or on the backswing of their careers in 2030.

With that in mind, my guess would be Bedard if I’m picking a current player.  He’d have a shot at that in 2034 if he signs a max-term contract coming off his entry-level deal.  If he goes shorter-term, he could get there sooner.  We’re going to see a bigger jump in the cap coming sooner than later but even with that, it’s probably going to take a while to see someone reach $20MM unless there’s a material jump in the Upper Limit in the new CBA or some sort of other drastic change.

jminn: The Ducks want to trade Fowler. Kings could have a need, even though Cam is a lefty. Is there any chance Fowler moves up the freeway?

I’m going to be a little picky on the phrasing as it’s not necessarily that they’re looking to trade Fowler but rather that they’re willing to work with him on finding a new home.  If he winds up staying there for most or all of the season, I think that’s an outcome they’re okay with.

But semantics aside, I don’t think this is a good fit for Los Angeles and not because of the handedness.  Drew Doughty is expected to be back this season so while the Kings have around $10MM in cap room right now per PuckPedia, that money isn’t really spendable as they’ll need to get back to compliance before they can activate him.  That’s easy to do with a replacement from the minors but Fowler has a $6.5MM cap hit.  That means that barring further long-term injuries, the Kings would need to clear around $6.5MM off the books when the time comes to activate Doughty.  That’s going to be extremely difficult to do midseason.

Would Fowler help the Kings?  He certainly would.  But this isn’t the right move for them to make at this time.  Los Angeles needs to exhaust their internal options and see if Brandt Clarke and Jordan Spence can take on bigger workloads.  Then, if that doesn’t go well, they can re-assess but even then, it’d have to be for a much cheaper option than Fowler.

Frozenaquatic: There’s an interesting conversation happening right now about goalie salaries. Obviously, the argument for lower salaries is that aside from Hellebuyck, even top goalies play about 60 – 65 games (even though starting pitchers command high salaries despite only playing 30 out of 162 games). And how much does a goalie matter for a championship (or was Darcy Kuemper the Trent Dilfer of the NHL–just an anomaly in a rare system that usually favors Tom Bradys/Vasilevskys)?

Another argument is that they are only as good as the system–how much will Ullmark regress behind a much worse Sens system and would Swayman regress that same amount? They’re also mercurial–Shesterkin could sign an eight-year, $104MM contract and begin an eight-year slump.

The argument for higher salaries is that they may affect those games more than the other players. Great goalies sometimes open a championship window. They can represent a winning culture that other players want to play for.

Where do you fall on the goalie salary spectrum?

Second question is: Do you know if players take playing with goalies into consideration when they sign UFA contracts with new teams?

Third question: if you were in a legacy fantasy league, would you take Askarov, Cossa, or Wallstedt?

1) In general, I’d say goalies have felt the squeeze in recent years.  With a lot of teams shifting closer to a platoon, there has certainly been a concerted effort to try to spend less at that position.  It also should be noted that the number of true higher-end starters has gone down which is part of the reason teams are looking for goalies to be closer to splitting the duties.

What has been interesting to me lately is that teams with a legitimate number one have largely managed to get that player locked up on what looks like a team-friendly agreement.  Part of me wonders if the fact a lot of teams are looking to cut costs between the pipes actually has deflated the marketability for some of those players.  While supply is low, it’s getting offset by perceived lower demand.

That’s what made the Jeremy Swayman saga particularly interesting as here’s a player trying to reach that upper tier (some would say he’s there already while others might want to see him play more first) that seemingly held out for top dollar.  It seems like Igor Shesterkin is hoping to do the same as well although, again, if he got to the open market, how many teams would realistically go after him?  How many would have the cap space and of those, how many would pay up that much for a goalie?  I’m intrigued to see how that one’s going to play out.

2) I can’t say this for certain either way but it would surprise me if more than a handful of skaters would put too much weight on who the goalie is when signing in free agency.  I’d say that’s too position-specific.  Free agents probably assess rosters on a more macro level – does the player want to go to a contender?  Does he want to go to a team that is thinner at a specific position in the hopes of securing a bigger role (and ideally a bigger contract)?  A UFA goalie would pay attention to who the incumbent player is for obvious reasons but I doubt a lot of skaters put a high emphasis on who the goalies are specifically when they’re pondering teams.

3) Long-term, it’s hard to pick against Yaroslav Askarov.  There’s a reason why he was considered by some as the best goalie outside North America a couple of years ago.  He’s now on a team that could be positioning itself to contend in a few years.  If it’s a long-term play you’d be going for, he’s it.  If you need someone who might get you more points in the short term, it’s Jesper Wallstedt.  Like Askarov, he’ll see some NHL action this season but he’s on a team that I expect will be more competitive.  Next season, he should be a full-timer on a team that has some cap space to make some noise next summer.

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Topics in this edition of the PHR Mailbag include the Jeremy Swayman contract drama, handicapping the Metropolitan Division, and much more.  If your question doesn’t appear here, check back next weekend for part two.

wreckage: Everyone knows and even Edmonton fans admit, they need to upgrade on Nurse as their 3D but it’s impossible at his contract, especially with his NMC. And now some certain ESPN guy is saying Seth Jones to EDM makes sense, despite the fact the time Caleb was there was tumultuous with their mother’s claims on the old Twitterverse. Does any of that rumor make sense? Even in the slightest?

First, let me say that I’m blissfully unaware of those claims from the Twitterverse which allows me to actually ponder the idea on its merits.  Before getting into that, I’ll note that only six players remain from Caleb’s tenure with Edmonton with a different head coach, GM, president, and much more.  The culture is different, the team is mostly different; if there were concerns before, those same concerns might not be around anymore.

On the surface, the idea of a swap with Darnell Nurse and Jones makes a lot of sense in theory if there’s a desire to make a change there.  Nurse’s contract ($9.25MM through 2029-30) makes it incredibly difficult to swap him for an upgrade as a lot of teams will view the price tag as a negative.  With Jones making similar money ($9.5MM through 2029-30), the cap charge isn’t the issue.  It’s one overpaid blueliner for another.  If both teams think that they’re better off with the other overpaid player, a swap would make sense.  I don’t think it’ll happen though.  I’d say Chicago says no given the left-defense organizational depth they have, making Nurse a bit redundant compared to the right side where they’re much thinner.  But value-wise, it’s not a bad framework for a swap.

gowings2008: Is it crazy to think the Leafs are primed for a step back this year? There are so many question marks. Can Matthews, Nylander, and Marner repeat career years? Will Tavares continue to decline and how fast? Will Chris Tanev’s body hold up? Are they getting Florida OEL or Vancouver OEL? Are Knies and McMann legit? Do they even have an NHL fourth line? Is Woll really the answer with just 34 career starts? I really think if just a couple of these things don’t bounce in the Leafs’ direction, they’ll be on the outside looking in come playoff time. The Atlantic is no walk in the park, especially this year.

It’s not crazy to think that Toronto could take a significant step back this season.  We know of them being a top regular season team under former coach Sheldon Keefe but will things be different under Craig Berube?  They’re now built with an eye on being more effective in the playoffs.  Will the uncertainty around Mitch Marner’s final year of his contract turn into a distraction?  I don’t think so but it could.  I’m not as worried about the defense and some of the other forwards that you mentioned but there is one giant wild card.

The goaltending isn’t just a question about Joseph Woll but also Anthony Stolarz.  Neither player has even been a 1B option in the NHL.  They each made career highs in starts last season, making 23 and 24 combined.  There are 82 games in the regular season.  How will they hold up under the bigger workload?  And with oft-injured Matt Murray and Dennis Hildeby as the in-house options to turn to if injuries or general fatigue arise, they’re taking a risk.

Don’t get me wrong, I don’t mind the approach they’re taking.  There’s upside to both Woll and Stolarz and if they even provide average goaltending, they’ll be fine.  But if they falter, they could very well be in trouble.

But that said, I don’t see much reason to think they won’t be a top-three team in the Atlantic this season.  While they have questions, no doubt, so do a lot of other teams not named Florida.  In that case, I’d back the team with the track record of winning a lot of regular season games to continue doing so.

Johnny Z: So did Neely make the $64M contract offer to Jeremy Swayman and his agent sat on it and did not tell his client? Does Swayman take this offer and fires his agent? Will Neely take the offer off the table? Will Swayman end up on the trade block? What a mess!

First, let me say that this has turned into a bit of a bizarre situation.  With the various reporting that’s out there, I get the sense that the $64MM might not have been offered but $62MM or $63MM might have been.  So while Swayman’s agent is technically correct from a semantics perspective, the last offer compared to Cam Neely’s stated number is pretty close and probably wasn’t going to be the difference-maker in getting something done or not.

Enough time has passed since this was revealed so if the offer was going to be taken, it would have been taken by now.  It sure seems like there’s still a pretty sizable gap to bridge which, evidently, is going to take some time.  I don’t think we’re at the point of a more ‘nuclear option’ being an agent change, an offer revocation, or a trade demand.  By all accounts, Swayman’s desire is to be in Boston and the Bruins clearly want him as their long-term starter which is why shorter-term agreements haven’t been discussed in much detail yet.

There are various pressure points that help to spur things, be it a trade (the deadline) or a contract (arbitration hearing, training camp, etc).  The next one is the start of the regular season early next week where things get more complicated cap-wise as his cap charge for 2024-25 would be higher than his overall AAV (as long as it’s a multi-year deal).  Daily Faceoff’s Frank Seravalli explains that more in detail if you’re interested.  Assuming something isn’t done by then, then there might be a waiting game to see if the leverage shifts.  If Boston starts strong without him, that might lower Swayman’s price while if they falter, the Bruins might decide they have to go a bit higher to close a contract.  Things took a turn for the worse this week with the public comments but I expect a deal will still get done…eventually.

rule78.1: How long do you think it will take for the NHL/NHLPA to address LTIR? Because someone within the Vegas organization has found all the holes and is taking full advantage of them.

For those who haven’t seen it, the latest LTIR situation saw Vegas remove the cap hit of Robin Lehner.  Technically, Vegas was within their rights to attempt to terminate his contract because he didn’t (or couldn’t) report for his physical.  I think in the end, the Golden Knights were prepared to do so, the NHLPA fully intended to grieve and this time, instead of just doing it and waiting to see the outcome of the hearing (like the Flyers are doing with Ryan Johansen, for example), they just worked out the compromise here.

One of the few things we know about this is that there’s a lot we don’t know.  As ESPN’s Emily Kaplan relayed earlier this week, there was a specific reason why Lehner was unable to attend, one of a sensitive nature.  Due to that, the NHL and NHLPA agreed that this is an “unprecedented and highly unique” case.  So is this circumvention?  I can definitely see the argument that it is but given how rarely in-season grievances involve restoring a cap charge, I think they might have just done the settlement early instead of reaching it in November or December or whenever the hearing would have happened.

As to your question, it’s a CBA matter since it’s related to salary cap accounting.  It’s not something that can unilaterally be changed beforehand.  The NHL has been doing its due diligence in terms of speaking to owners, presidents, and GMs to get a sense of the appetite for change.  How many want to make a change and how big of one do they want?  I think more want to change something than don’t but the extent of the change is up in the air.

The next CBA starts in 2026-27 and while both the NHL and NHLPA would probably like to have an agreement done before then, it’s unlikely any significant cap changes (including LTIR) would come into play until the new document is in effect.  So for the next two years, the status quo is probably going to continue to be in place.

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