Sharks Rumors

Salary Cap Deep Dive: San Jose Sharks

August 31, 2022 at 7:58 pm CDT | by Brian La Rose 1 Comment

Navigating the salary cap is one of the more important tasks for any GM. Teams that can avoid 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 2022-23 season. This will focus more on players who are regulars on the roster versus those who may find themselves shuttling between the AHL and NHL. All cap figures are courtesy of CapFriendly.

San Jose Sharks

Current Cap Hit: $82,362,501 (under the $82.5MM Upper Limit)

Entry-Level Contracts

F Thomas Bordeleau (two years, $917K)
F William Eklund (three years, $894K)
F Scott Reedy (one year, $843K)

Potential Bonuses
Eklund: $850K
Reedy: $82.5K
Totals: $932.5K

All three of these players are likely to spend some time at both the NHL and AHL levels. Reedy is the most experienced of the three after spending half of last season with the Sharks in a depth role but he’s the type of player that next summer will be looking at taking less than his qualifying offer in exchange for a higher AHL pay (or a one-way deal). His bonuses are based on games played so some might be achievable. If Eklund can lock down a full-time spot in training camp, he’ll have a chance at hitting some of his ‘A’ bonuses but, like Bordeleau, he’s probably better off playing top minutes in the minors over a lesser role in the NHL. With both having very limited NHL experience, it’s too early to forecast their next contracts but both players figure to be big parts of San Jose’s future plans.

Signed Through 2022-23, Non-Entry-Level

F Nick Bonino ($2.05MM, UFA)
F Jonah Gadjovich ($750K, RFA)
F Noah Gregor ($950K, RFA)
D Nikolai Knyzhov ($850K, RFA)
F Timo Meier ($6MM, RFA)
F Matt Nieto ($850K, UFA)
D Markus Nutivaara ($1.5MM, UFA)
G James Reimer ($2.25MM, UFA)
F Jeffrey Viel ($750K, RFA)

Potential Bonuses:
Nutivaara: $250K

Meier’s contract is a by-product of what teams expected the financial picture to look like at this time, one that featured some significant increases to the Upper Limit. The heavily back-loaded structure sees him carry a $10MM salary this season which also represents his qualifying offer next summer; while the new CBA put in the 120% of AAV cap (unofficially thought by some as the Meier Rule), contracts signed before that time like his aren’t subjected to it. Under the projected future cap from a few years ago, a $10MM price point for a top-line winger would have been high but probably reasonable but now, it’s certainly on the high side. It’s unlikely San Jose would non-tender him next summer even at that price tag but they’ll be wanting him to leave a bit of money on the table from an AAV perspective on a long-term extension.

Bonino has scored at least 10 goals in six straight years and eight of the past nine while winning faceoffs at an above-average rate. That combination makes him a bottom-six fit for several teams so he should have a decent-sized market next summer at a similar price point to this. Gregor spent most of last season with the Sharks and acquitted himself well but San Jose’s cap situation basically forced a one-year deal. He’ll have arbitration eligibility next summer and should add at least a few hundred thousand to his price tag. Nieto, Gadjovich, and Viel are all role players that are likely to come in below $1MM on their next contracts.

Nutivaara is coming off a season that limited him to just a single appearance due to a lower-body injury but has a track record of being a serviceable third-pairing player. He’ll max out on his bonuses at 60 games played and if he’s able to suit up that many times, he’ll have a stronger market and a chance to earn a bit more next summer. Knyzhov missed last season due to a core muscle injury and tore his Achilles tendon in offseason training earlier this month which will cause him to miss at least the first half of the season. He’s a capable young defender but these injuries will limit him to another short-term, low-cost contract.

Reimer will be the second goaltender next season after Adin Hill was moved to Vegas earlier this week. The 34-year-old got the bulk of the starts in 2021-22 and did alright considering how much the team struggled. A similar showing this season would put him in line for at least a small raise as the cost for quality veteran backups continues to rise.

Signed Through 2023-24

F Alexander Barabanov ($2.5MM, UFA)
G Kaapo Kahkonen ($2.75MM, UFA)
F Luke Kunin ($2.75MM, RFA)
F Kevin Labanc ($4.75MM, UFA)
F Oskar Lindblom ($2.5MM, UFA)
D Jaycob Megna ($763K, UFA)
F Steven Lorentz ($1.05MM, UFA)
D Radim Simek ($2.25MM, UFA)

Labanc’s contract is basically the reward he received for taking a significantly below-market contract back in 2019 to help with San Jose’s cap situation at that time. Things have not gone well since then as he has battled injuries and struggled to produce. At this point, his market value two years from now might be half of his current cost. Barabanov quietly finished fifth on the Sharks in scoring last season with 39 points and this deal represents a lower-risk commitment to see if it was a fluke or a sign of things to come.

Kunin and Lindblom are newcomers that have shown flashes of upside but haven’t been able to put it together consistently. Kunin’s cost is a bit high relative to his production but power forwards often get more than market value while Lindblom hasn’t been the same since returning from his bout with cancer which resulted in the Flyers buying him out this summer. Both are on placeholder deals to see how they’ll fit on a new team and to give the top prospects like Eklund and Bordeleau time to develop. If things go well, small raises could come their way. Lorentz comes over from Carolina and is a fourth liner that the Sharks feel might be able to play higher in the lineup. That will need to happen for him to have a chance at a notable raise next summer.

Simek hardly played last season and doesn’t appear to be part of their plans on the back end beyond a depth spot. However, this isn’t a particularly ideal market for cutting salary so it’s unlikely that San Jose will be able to move him. Unless he can lock down a regular role, his next contract will be closer to half of what he’s getting now. Megna is a serviceable depth defender at the league minimum for two years and if he can play on the third pairing most nights, he’ll have a shot at a small raise in 2024. Notably for him, this contract is his first one-way pact after four straight two-way deals.

Kahkonen was brought over from Minnesota at the trade deadline with the hopes that he can be San Jose’s starter of the future. However, a limited track record made a long-term deal very difficult to work out so they effectively settled on another bridge contract. If he can prove he’s a starter-caliber goalie, doubling his current AAV is achievable but if he proves to be more of a platoon option, his next deal will likely be in the $3MM range.

Signed Through 2024-25

F Nico Sturm ($2MM, UFA)

Sturm started his pro career late after going through college first and basically only has the last two seasons as a regular player where his role has been somewhat limited. Clearly, the Sharks believe there’s some upside that will justify the three-year commitment and if he’s able to produce closer to the 30-35-point mark, they’ll do well with this contract.

Signed Through 2025-26 Or Longer

D Matt Benning ($1.25MM through 2025-26)
F Logan Couture ($8MM through 2026-27)
D Mario Ferraro ($3.25MM through 2025-26)
F Tomas Hertl ($8.1375MM through 2029-30)
D Erik Karlsson ($11.5MM through 2026-27)
D Marc-Edouard Vlasic ($7MM through 2025-26)

Hertl and Couture are San Jose’s one-two punch down the middle. Neither is a true number one option but both are better than number twos so the fact their AAVs lie in between the price tag of those two roles makes sense. The ability for them to maintain that level of production throughout the contract is the biggest question, however. Couture is already 33 with five years left while Hertl will be 36 when his contract is done. Their ability – or lack thereof – to sustain top-six production will ultimately determine if these contracts work out well for the Sharks or not.

Karlsson’s contract is the richest in NHL history for a defenseman and there have already been signs of slowing down in recent years. However, he had a nice bounce-back year offensively and even though he’s not the premier offensive blueliner he once was, he’s still a capable point-producer that can log heavy minutes. They’re not getting a good return on the contract but they’re getting something of note out of him. I added that last note to act as a direct contrast to Vlasic. He’s making considerably less money ($4.5MM less, to be exact) but was borderline unplayable the last couple of years. At least with Karlsson, they still have an impact player for their money but Vlasic has four years left and is already getting harder to justify playing.

Ferraro has quickly become an integral shutdown defender for the Sharks (basically taking Vlasic’s old role) but his limited offensive output certainly limited his earnings upside. That made a long-term contract difficult to work out so instead, the two sides agreed on a medium-term deal that walks him to unrestricted free agency in his prime. If Ferraro can even get to the 25-30-point range, he could add a couple million per year on his next contract. Benning getting four years was somewhat surprising – few teams make that type of commitment to a depth player – but the cost is low enough to limit the risk. He’s a serviceable third-pairing option and should be for a while and evidently, they feel there’s some value in having some stability in that spot.

Buyouts

F Rudolfs Balcers ($8K in 2022-23, $308K in 2023-24)
G Martin Jones ($2.417MM in 2022-23, $2.917MM in 2023-24, $1.667MM from 2024-25 through 2026-27)

Retained Salary Transactions

D Brent Burns ($2.72MM through 2024-25)

Still To Sign

None

Best Value: Bonino
Worst Value: Vlasic

Looking Ahead

The Sharks are going to be capped out this season despite having a roster that’s unlikely to push for a playoff spot. While they’ll have roughly $20MM in cap space for next season, close to half of that will go to Meier alone and by the time they round out the roster, they won’t have much left to work with. Their next window to add will be two years from now when another $19MM comes off the books. However, with several long-term, big-money commitments still on the books, their ability to truly shake things up is going to be limited unless GM Mike Grier can find a way to get one or more of those deals off the books.

Photo courtesy of USA Today Sports Images.

Sharks Deal Adin Hill to Vegas For Fourth Round Pick

August 29, 2022 at 6:55 pm CDT | by John Gilroy 19 Comments

The Vegas Golden Knights announced that they have acquired goalie Adin Hill from the San Jose Sharks in exchange for a 2024 fourth-round pick. The deal seemingly solves the issue of San Jose’s goalie trio while giving Vegas another legitimate NHL goaltender in the absence of Robin Lehner this season.

Hill, similarly to Brossoit, has never been a starting goaltender in the NHL, however he does have more intriguing numbers. For his career, Hill carries a .908 save-percentage and 2.74 goals-against average, with a similar .906 and 2.68 in 2021-22, where he played 25 games, a career-high. Also of note, Hill spent his career with the Arizona Coyotes prior to being dealt to the Sharks last offseason, two teams that have struggled to an extent. With Vegas, who is generally a competitive, defensively sound team, Hill could very well see his numbers improve.

San Jose Sharks Sign Jonah Gadjovich

August 29, 2022 at 4:44 pm CDT | by Gavin Lee Leave a Comment

After reporters last week indicated that talks were getting close between the San Jose Sharks and Jonah Gadjovich, the restricted free agent has apparently come to terms with the club. The two sides have agreed to a one-year, two-way contract; CapFriendly reports it will pay the young forward $750K in the NHL, $120K in the AHL, and includes a $150K minor league guarantee.

Gadjovich, 23, was claimed off waivers at the start of last season by the Sharks, after failing to make the Vancouver Canucks roster out of camp. The 2017 second-round pick provided basically no offense, scoring just one goal and three points in 43 games but still managed to become something of a fan favorite due to his incredibly physical game.

The 6’2″ winger racked up 104 hits and 74 penalty minutes despite averaging fewer than nine minutes of ice time a night, racking up ten fighting majors in the process.

It’s that physicality, combined with some sneaky-good goal-scoring ability that made Gadjovich such a high pick, though he hasn’t shown any of the latter so far at the NHL level. In his last AHL season, however, the big winger did have 15 goals in 19 games, continuing to put the puck in the net at a high rate.

If the Sharks can coax any of that ability out of him in the coming years, they could have a valuable contributor for their bottom six. Otherwise, they’ll have to decide if a dressing pseudo-enforcer is possible in today’s NHL.

It is worth noting that despite his limited minutes, Gadjovich did actually still attempt 69 shots but only hit the net on 36 of those and then had an incredibly low shooting percentage of just 2.8%. If that happens to be more unlucky than skill-based, there may be some upside if given a bigger opportunity in the lineup this season.

Examining Trade Options For San Jose’s Goalie Surplus

August 28, 2022 at 6:56 pm CDT | by Brian La Rose 22 Comments

Generally speaking, extra depth is rarely a bad thing to have. That extra impact forward, carrying more than four top-four defensemen, these are often elements of successful teams. But that same argument doesn’t apply to goaltending as almost all of the time, carrying three is seen as less than ideal and teams will often move their extra option before too long.

San Jose is presently an exception to that idea as they’re carrying three NHL goaltenders in Kaapo Kahkonen, Adin Hill, and James Reimer. All three are on short-term deals (Reimer and Hill have one year left and Kahkonen two) and all three make between $2.1MM and $2.75MM. At least from a contract standpoint, they’re more or less interchangeable.

But Kahkonen was brought in from Minnesota at the trade deadline and then given the two-year deal so it stands to reason that they don’t want to move him. That leaves the 26-year-old Hill and the 34-year-old Reimer as their two trade options with the latter only making $75K more than the former. The Sharks might prefer to keep the younger Hill but his trade value might be better depending on who shows interest.

With that in mind, let’s examine some of the teams that might be interested in adding one of San Jose’s netminders even with most of the goalie movement being done for the summer.

Arizona

The Coyotes know they don’t have their backup goalie on the roster yet. Karel Vejmelka is unproven as a starter so adding a second netminder that could play close to half the games wouldn’t hurt. Yes, they’re a team with an eye on the future but they can still try to lose competitively. Would they trade for Hill after moving him to San Jose just over a year ago or would they prefer Reimer? If not one of them, they’ll be watching the waiver wire in October.

Minnesota

There isn’t a true opening with Marc-Andre Fleury as the starter and Filip Gustavsson as the backup but Gustavsson is coming off a tough 2021-22 campaign with Ottawa. Playing Fleury heavy minutes would carry some risk so while Gustavsson is the backup of the future, GM Bill Guerin might want to assess if they’d be better off with a more reliable second option even if it forces them to turn around and carry three goalies with Gustavsson now being waiver-eligible.

Philadelphia

Back in May, it looked like the Flyers had their goalie situation figured out as they were able to sign highly-touted prospect Ivan Fedotov to partner up with Carter Hart. However, the netminder is now serving in the Russian military which will take him out of the equation. Felix Sandstrom is likely next in line but has just five career NHL appearances under his belt. Philadelphia is looking for more short-term success so adding a more proven backup is something GM Chuck Fletcher will likely be looking into.

Vegas

Following the season-ending hip surgery for Robin Lehner, GM Kelly McCrimmon came out and said his intention is to go with Logan Thompson and Laurent Brossoit as their tandem. Thompson has shown promise but his NHL experience is limited while Brossoit has been hit and miss in his career. If things don’t go well early on, they could look to turn to San Jose for a chance at an upgrade.

Washington

This might seem a little odd considering that they just signed Charlie Lindgren to a three-year deal to be Darcy Kuemper’s backup. But Lindgren’s cap hit is right at the line of being fully buriable in the minors if a better option presents itself. Their LTIR situation with Nicklas Backstrom gives them some extra flexibility to add a short-term deal so if they trust Reimer or Hill over a goalie that has just 29 games of NHL experience and finished up the AHL playoffs as the backup, GM Brian MacLellan will likely check in on what that upgrade would cost.

Winnipeg

They added David Rittich as a low-cost backup early in free agency, handing him a one-year, $900K contract. That can be fully buried in the minors if a better option presents itself. The Jets still have considerable cap space at their disposal and are a team with an eye on winning in the present so if they aren’t able to add at other positions, turning around and upgrading Connor Hellebuyck’s backup would be a reasonable backup plan.

Obviously, not all of these teams are going to make a move between the pipes in the coming weeks so the options for GM Mike Grier are going to be limited. If he wants to get top value – the asking price for Reimer is believed to be a second-round pick – he might have to wait until the season starts to see if injuries force someone’s hand. Otherwise, it will be a limited market for whichever one he decides to move. Surplus quality depth at most positions is usually a good thing and could yield a strong return in a trade but for goaltenders, it’s just not the case.

No Hearing Date Set For Evander Kane's Grievance; Talks Ongoing With Jonah Gadjovich

August 25, 2022 at 7:58 pm CDT | by Brian La Rose 7 Comments

There remains no date set for the resumption of Evander Kane’s grievance hearing, relays Curtis Pashelka of the Bay Area News Group (Twitter link). The Sharks terminated Kane’s deal last season citing a breach of contract, permitting him to become an unrestricted free agent. He signed with the Oilers for the stretch run and then inked a four-year, $20.5MM deal before free agency began to stay there but it remains to be seen what would happen if his original contract (which still had three years left at a $7MM AAV) was to be reinstated as a result of the grievance.
In a separate tweet, Pashelka notes that discussions are ongoing between the team and RFA forward Jonah Gadjovich. The 23-year-old is San Jose’s last restricted free agent and is coming off a year that saw him pick up just three points in 43 games. The Sharks tendered him a two-way qualifying offer worth just under $875K last month but Gadjovich might be willing to sign for less than that in exchange for a one-way contract.

San Jose Sharks Announce ECHL Affiliation

August 25, 2022 at 12:10 pm CDT | by Ethan Hetu Leave a Comment

Another NHL team has revealed their ECHL affiliation for next season. The San Jose Sharks announced today that they have reached an ECHL affiliation agreement with the Wichita Thunder. Sharks assistant GM Joe Will gave the following statement as part of the announcement:

We’re looking forward to working with the Wichita Thunder, including Head Coach Bruce Ramsay and General Manager Joel T. Lomurno. Having a solid affiliation in the ECHL is important to our player development plan and the ECHL has a solid track record with preparing prospects for their NHL and AHL careers.

The Thunder were previously the affiliate of the Edmonton Oilers, serving in that role from 2017-2022. The Sharks have not had an ECHL affiliate since 2018, when they were in an agreement with the Allen Americans, a partnership that ran from 2015-2018.

The Sharks currently have three goalies on their projected NHL roster and four goalies that figure to be in contention for AHL minutes, meaning it’s entirely possible that a Sharks goalie prospect could spend time in Wichita next season. The Thunder went 27-36-9 and will hope that this change in NHL affiliate will help turn around the team’s fortunes for next season.

Latest On Timo Meier

August 24, 2022 at 4:47 pm CDT | by Josh Erickson 12 Comments

There are few players as important to the San Jose Sharks as Timo Meier. The Swiss forward led the Sharks in scoring last year, setting career highs in goals (35), assists (41), and points (76). He’s a spectacular scoring winger without many weak spots in his game, and he would be expected to lead the Sharks into their next period of contention alongside Tomas Hertl.

But speaking today at the NHL’s European Player Media Tour, Meier said he’s had no discussions yet on a contract extension with the Sharks, aside from an introductory phone call with new general manager Mike Grier on July 5. Meier is entering the final season of a four-year, $24MM contract signed in 2019.

He will again be a restricted free agent with arbitration rights next summer, meaning he’s due a qualifying offer. Meier’s actual salary in 2022-23 is $10MM, which should raise some eyebrows about the value of that qualifying offer, and rightfully so. But a change to the qualifying offer rules in the 2020 Collective Bargaining Agreement extension means that Meier can’t receive a qualifying offer greater than 120% of his previous deal’s cap hit, meaning he’s only owned a one-year, $7.2MM deal as compared to a one-year, $10MM deal from the Sharks.

Financially, for Meier, this is the most important season of his NHL career. At 26 years old next summer, he’ll undoubtedly sign a long-term deal that should take him well into his 30s, whether it’s with the Sharks or someone else. If his production takes a step back next season, though, the Sharks may very well want to settle for a one-year contract awarded through arbitration.

The Sharks, in any event, will likely need to make a cap-clearing move next summer as they turn the corner back toward competitiveness. The anchor contracts of Logan Couture ($8MM), Erik Karlsson ($11.5MM), and Marc-Edouard Vlasic ($7MM) don’t expire until 2026 and 2027, so relief from those deals won’t come for quite a while.

Carolina Hurricanes Name Brock Sheahan AHL Head Coach

August 23, 2022 at 2:28 pm CDT | by Josh Erickson Leave a Comment

Per a team release, the Carolina Hurricanes have named Brock Sheahan the head coach of their AHL affiliate, the Chicago Wolves.

Sheahan, 38, becomes a professional hockey coach for the first time. He got his coaching start with Notre Dame in 2013-14 as an assistant coach, serving just one season. For four seasons from 2014 to 2018, he spent time as an assistant and associate coach for the College of the Holy Cross before getting a job with the USHL’s Chicago Steel for 2018-19.

The Steel promoted him to their head coaching role during the 2019-20 season and he never looked back. Sheahan guided the 2020-21 Chicago Steel to a Clark Cup championship, working with current NHL prospects such as Sean Farrell, Matt Coronato, Mackie Samoskevich, and Josh Doan.

The Wolves themselves are coming off a Calder Cup-winning season, spearheaded by high-end veteran firepower and elite goaltending. It was enough to get their previous head coach, Ryan Warsofsky, an assistant job with the San Jose Sharks. Sheahan will need to keep the team’s structure intact after an offseason that’s seen a lot of turnover at all spots in the Hurricanes organization.

San Jose Sharks Re-Sign Noah Gregor

August 22, 2022 at 3:25 pm CDT | by Ethan Hetu Leave a Comment

4:00 PM: The Sharks have now officially announced the signing of Gregor.

3:25 PM: The San Jose Sharks have reached an extension with one of their remaining restricted free agents, signing Noah Gregor to a one-year, one-way $950K deal. The deal was reported by The Nation Network’s Jason Gregor, who happens to be the Sharks forward’s uncle.

As noted by PuckPedia, the Gregor signing leaves Sharks with just $225k in cap space on their full 23-man roster, and the team still has one RFA player left to sign to a new contract: forward Jonah Gadjovich.

Gregor, 24, established himself as an NHLer last season. He got into 63 games for the Sharks, scoring 8 goals and 23 points. A 2016 fourth-round pick, Gregor has been a bit of a development success story for San Jose, slowly growing from mid-round pick and WHL star to strong AHL contributor to useful NHLer.

Gregor is an offensively-oriented player who got a look on the Sharks’ power play last season and brought a combination of skill and grit to their lineup. Gregor’s overall profile is sure to be appreciated by new coach David Quinn, and armed with this one-way deal Gregor will enter training camp on stronger footing than ever before in his career. This deal will likely allow Gregor to focus his energy in training camp on building chemistry with his teammates and earning a greater role in the Sharks’ lineup, rather than simply attempting to earn a roster spot, as has been his focus in prior years.

The Sharks’ situation on the wings is decently unsettled, and Gregor will be competing for a role on a scoring-line role against other wingers such as Oskar Lindblom, Steven Lorentz, Luke Kunin, and Kevin Labanc. If he can find a way to hold down a spot next to one of the Sharks’ top two centers, Gregor could quickly outperform this contract’s $950K cap hit.

San Jose Sharks Announce Several Hires

August 19, 2022 at 12:07 pm CDT | by Gavin Lee Leave a Comment

After Brian Wiseman was originally announced as an assistant coach with the New York Islanders for the upcoming season, the team eventually decided that he would not be joining the team. Now, the veteran coach has found a new gig, as he will join David Quinn’s staff with the San Jose Sharks as an assistant.

He isn’t the only one joining the Sharks today though. The team has also named Stephane Leblanc its director of CHL scouting, and added Tommy Wingels and Luca Sbisa as development coaches.

Wingels, 34, played parts of seven seasons with the Sharks to start his NHL career, after working his way up from the sixth round of the 2008 draft. The hard-working forward managed to set a career-high with 16 goals and 38 points in 2013-14, though that kind of production wouldn’t last long. His last season in the NHL was 2017-18, before playing a pair of years overseas.

Sbisa meanwhile never did play for the Sharks, but he certainly faced them many times. A veteran of 549 regular season games, most of them in the Pacific Division, the 32-year-old saw just one game in the 2020-21 season before failing to play at all in 2021-22. Retirement will bring him to the Sharks staff, where he can pass on some of the tricks that made him a first-round pick in 2008.

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