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 for the 2023-24 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.
Seattle Kraken
Current Cap Hit: $81,456,607 (under the $83.5MM Upper Limit)
Entry-Level Contracts
F Matthew Beniers (one year, $898K)
F Tye Kartye (two years, $859K)
F Shane Wright (three years, $918K)
Potential Bonuses
Beniers: $1.85MM
Kartye: $57.5K
Wright: $3.0625MM
Total: $4.97MM
Beniers’ first full NHL season was certainly a strong one as he finished fourth on the Kraken in scoring while taking home the Calder Trophy as the NHL’s top rookie. He followed that up with a good showing in the playoffs. Basically, the second overall pick in 2021 has cemented himself as a key part of Seattle’s long-term plans. Accordingly, it wouldn’t have been too surprising had he signed a long-term extension over the summer, one in the $8MM for eight years range, one we’ve seen quite a few core young centers sign in recent years. That didn’t happen and now he’s off to a bit of a slow start this season. Even if he winds up with a bridge deal though, it will still be pricey; Anaheim’s Trevor Zegras (three years, $5.75MM AAV) could be a suitable comparable. He should have a chance at hitting several of his four ‘A’ bonuses at $212.5K each.
Wright was recently recalled, beginning the nine-game clock before the Kraken will need to decide about officially burning the first year of this deal. However, they’ve since sent him back down, deferring that decision for the time being. Assuming they avoid starting the contract, they’ll be able to lower the cap hit slightly for next season while avoiding the bonuses. As for Kartye, he has been a regular in the bottom six in his first taste of regular season action. If he can hold down that role this season and next, he might be able to double this price tag. His bonuses are games-played based so it’s likely he’ll hit some of them at least.
Signed Through 2023-24, Non-Entry-Level
F Pierre-Edouard Bellemare ($775K, UFA)
G Chris Driedger ($3.5MM, UFA)
F Jordan Eberle ($5.5MM, UFA)
D Jaycob Megna ($762.5K, UFA)
D Justin Schultz ($3MM, UFA)
F Devin Shore ($775K, UFA)
F Eeli Tolvanen ($1.45MM, RFA)
F Alexander Wennberg ($4.5MM, UFA)
F Kailer Yamamoto ($1.5MM, RFA)
Eberle has put up back-to-back 20-goal seasons in his first two years with Seattle, actually faring better offensively than he was with the Islanders. In doing so, he has given himself a chance of securing another deal at a similar price tag as this one although it’ll be a shorter-term agreement with him turning 34 in May. Wennberg has done better with the Kraken compared to his time with Florida but he hasn’t gotten back to his early-career numbers when he had 40 points in his sophomore year and 59 the following season. The fact he plays in all situations and is a center will certainly help him on the open market but at this point, it feels like something closer to $3.5MM or $3.75MM might be where his next contract lands.
Yamamoto was bought out by Detroit (who ate the charge to acquire Klim Kostin’s rights) and quickly landed with his hometown team in unrestricted free agency. Unless he’s able to produce at a higher level than he did with Edmonton though, he could be facing a non-tender in June. Otherwise, a small increase could come his way. Tolvanen fit in quite well after being claimed off waivers and is off to a good start this year. If that can be maintained, he’d be worthy of a deal crossing the $2MM mark. That said, the fact Daniel Sprong was non-tendered this past offseason after a 46-point year is a cautionary tale; they’re only willing to commit so much to that particular slot on the depth chart. Bellemare and Shore were only able to get minimum-salary deals over the summer and there’s little reason at this point to think they’ll be able to command more next time out.
After struggling in his final year with Washington, Schultz has rebounded well with Seattle when it comes to his production, notching 34 points last season and is on a similar pace this year. That, coupled with being a right-shot player, should give him a good market next summer which might allow him to land a small raise. Megna was acquired before the trade deadline last season but has played just six times with his new team (including playoffs), all of which came last year. Unless something changes, he’s likely to stay close to the league minimum.
Driedger landed this contract after a strong showing as Florida’s backup for a year and a half but things haven’t gone well with Seattle. He struggled in his first year, then tore his ACL at the Worlds, causing him to miss most of last season; the bit he did play was in the AHL. That’s where he is now as well, leaving a $2.35MM dead cap charge while he’s down there. He should still land a seven-figure one-way contract next summer but something closer to the $1.5MM mark could be doable.
Signed Through 2024-25
D William Borgen ($2.7MM, UFA)
G Joey Daccord ($1.2MM, UFA)
D Brian Dumoulin ($3.15MM, UFA)
F Yanni Gourde ($5.167MM, UFA)
D Adam Larsson ($4MM, UFA)
F Brandon Tanev ($3.5MM, UFA)
Gourde was another one of Tampa Bay’s cap casualties with Seattle picking him up in expansion. He has put up back-to-back 48-point seasons with the Kraken while being a key two-way center along the way, just as he was with the Lightning. Unless he can get back to the 60-point level he reached in his first full NHL campaign, it’s hard to see a sizable raise coming his way but another long-term deal around this price point could be doable if he stays close to the 50-point mark. Tanev, when healthy, has been more productive with Seattle compared to his time with Pittsburgh and Winnipeg despite having the same type of role. That said, with the injuries and his bottom-six role, it seems unlikely that he’ll be able to command a big raise either. That said, another deal in this range could work, if he can stay healthy.
Larsson has done quite well with a much bigger role since signing with Seattle, posting back-to-back career years offensively while logging over 23 minutes a night on average. This is more like what New Jersey was expecting when he was the fourth overall pick in 2011. If Larsson can continue to produce at that rate while remaining a key shutdown defender, he could push for closer to $6MM on his next contract.
Dumoulin joined Seattle this summer in free agency after a down year with Pittsburgh. His ATOI is down around five minutes a night from last year as he has primarily been on the third pairing. If that holds up, he’ll be hard-pressed to get an offer near this price as third-pairing players are closer to the $2MM mark now on the open market. Borgen landed this deal on the heels of an arbitration filing thanks to a career year on the offensive front where he had 20 points. However, for someone whose usage is fairly limited (generally below 17 minutes a night), it’s hard to see a scenario where he can command much more than that on the open market unless there’s a team that’s confident he can play in the top four.
Daccord was someone who benefitted from the increased value of third-string goalies, getting a seven-figure one-way deal despite playing in just ten NHL games combined over the past two seasons. Now set as the backup, he could position himself to double this price tag if he holds that role through the end of 2024-25.
Signed Through 2025-26
F Oliver Bjorkstrand ($5.4MM, UFA)
D Jamie Oleksiak ($4.6MM, UFA)
F Jaden Schwartz ($5.5MM, UFA)
Schwartz was somewhat of a surprising signing after Seattle didn’t spend much in the expansion draft. When healthy, he’s a capable top-six piece and while he managed to put up 21 goals last season, he has missed double-digit games in each of the last three seasons. He’ll need to stay healthy more consistently to have a chance at eclipsing this price tag next time out. Bjorkstrand was a cap casualty in Columbus and while his output dipped in his first year with the Kraken, he still put up his fourth 20-goal season out of the last five years. If he continues at that pace, he could be in line for a contract similar to this one in 2026.
Oleksiak’s contract felt like an overpayment at the time for someone who hadn’t been in the top four a lot. However, he has filled that role relatively well with Seattle while continuing to be one of the better shot-blockers. This deal still is a bit high with the limited offense he brings to the table but it’s not a negative-value pact either. He’ll be 33 when this contract is up, however, which could restrict his price tag somewhat.
