Ivan Chekhovich Placed On Unconditional Waivers
Sep 1: Chekhovich has cleared waivers and is no longer a part of the Sharks organization. He has signed a new deal with Torpedo Nizhny Novgorod of the KHL, meaning you can forget about him joining a different NHL organization for the time being.
Aug 30: The San Jose Sharks have placed Ivan Chekhovich on unconditional waivers according to Elliotte Friedman of Sportsnet. This likely indicates a contract termination, allowing the young forward to pursue other opportunities this season.
Chekhovich, 22, was set to enter the final year of his entry-level contract signed in 2018. He made his NHL debut in 2020-21, playing four games for the Sharks, but recorded just a single point. He spent the early part of the season in the KHL, where he found a lot more success, before joining the San Jose Barracuda for a stretch run.
Originally selected 212th overall in 2017, it’s an impressive accomplishment that Chekhovich even made it to the NHL at such a young age. A termination will make him an unrestricted free agent able to sign anywhere, though a return to the KHL seems likely.
A huge scoring talent at the QMJHL level, Chekhovich recorded 105 points in 2018-19 with the Baie-Comeau Drakkar. The talented forward has struggled to bring that level of offense to the minor leagues, however, with just ten goals and 32 points in 70 AHL contests. Still young enough to develop, he’ll be a name to keep an eye on down the road.
Detroit Red Wings To Buy Out Frans Nielsen
Aug 20: Nielsen has cleared unconditional waivers and will be bought out.
Aug 19: The Detroit Red Wings gained access to a second buyout window after settling their arbitration case with Adam Erne, and they’re going to use it. CapFriendly reports that the team will buy out the final year of Frans Nielsen‘s contract. Nielsen was owed $5.25MM this season. The team will have the following cap penalties:
- 2021-22: $4.25MM
- 2022-23: $500K
Nielsen has been placed on unconditional waivers.
The move will only save the Red Wings $1MM in cap space this season, but more importantly, will only cost them $500K in actual salary over each of the next two years. Nielsen’s six-year, $31.5MM contract had just $3MM left owed to him in the final year after being heavily front-loaded. It also will open another roster spot for a young forward looking to establish himself on the rebuilding club. The 37-year-old Nielsen is a shadow of his former self and has just five goals and 15 points over the last two seasons, despite playing in 89 games.
Even landing another NHL contract seems unlikely for the veteran forward, who is just 75 games away from 1,000 for his career. His play has declined significantly and the Red Wings weren’t even comfortable with him playing center this season. Once an annual Selke candidate as one of the most consistent two-way centers in the league, Nielsen’s best days are long behind him.
Again, this move isn’t really about the cap space for the Red Wings, who were already more than $18MM under the upper limit. While they continue to rebuild the roster and develop young players, GM Steve Yzerman isn’t committing any long-term money to the current group.
Photo courtesy of USA Today Sports Images
Mikael Hakkarainen Placed On Unconditional Waivers
The Vegas Golden Knights have placed Mikael Hakkarainen on unconditional waivers for the purpose of a mutual contract termination, according to CapFriendly. Hakkarainen was the sole return for Marc-Andre Fleury in a trade with the Chicago Blackhawks earlier this summer, though even the press release at the time indicated that he would remain with the Rockford IceHogs instead of joining the Henderson Silver Knights. Now he won’t even be under contract with the Golden Knights, becoming an unrestricted free agent when the termination goes through tomorrow.
Hakkarainen, 23, had one year left on his entry-level contract but had struggled to find playing time in the Blackhawks minor league system. This season he split the year between the Indy Fuel of the ECHL and Rockford, playing six games for each. In those contests, the fifth-round pick recorded just a single assist. His time in the AHL could be over, as he failed to score a single point in 14 games for the IceHogs since joining them in 2019.
He will be free to sign anywhere, though it’s unclear where his professional future lies at this point. A return to Finland perhaps, though he hasn’t played there since the 2014-15 campaign. Hakkarainen was the 139th overall pick in 2018, after spending two seasons in the USHL.
With Hakkarainen now set for release, the Golden Knights officially have nothing but cap space to show for the Fleury trade.
Los Angeles Kings At 50-Contract Limit
Lost in the shuffle of the Los Angeles Kings’ recent signings of 2021 draft picks Brandt Clarke and Samuel Helenius and the extension of prospect defenseman Jacob Moverare is that the team has painted themselves into a corner with the league’s contract limit. An oft-overlooked rule in the NHL Collective Bargaining Agreement is that no club can have more than 50 players signed to standard player contracts at one time for the current league year. Upon signing Moverare on Friday afternoon, the Kings hit that 50-contract mark. This may force the team to make a move before heading into the season without any flexibility.
There is an exception to the rule, but it will only be of minimal use at best to the Kings in mitigating their contract crunch. Similar to the entry-level slide rule, players aged 18 or 19 and signed to an ELC do not count against the 50-contract limit if assigned to their junior team, so long as they have not played in 11 NHL games that season. L.A. has four players who fit that age range: Quinton Byfield, Helge Grans, and the recently-signed Helenius and Clarke. However, the 2020 No. 2 overall pick Byfield is not going back to junior and Europeans Grans and Helenius were never selected in the CHL Import Draft and will not be playing junior in North America. That leaves only Clarke as a potential candidate to return to junior and save a roster spot. He technically does not count against the roster limit until playing in the requisite games, so L.A. is really at 49 contracts despite having 50 players signed; and it should stay that way. Though a talented top-ten pick, it is highly likely that Clarke will return to to the OHL’s Barrie Colts this season. In the event that he astounds in training camp and cracks the roster though, the Kings would be back at the 50-contract limit.
Even at 49 contracts, the Kings could still be looking to add some flexibility. L.A. has vowed to improve their roster this season, but could be handicapping themselves in trade talks and may even prevent themselves from taking full advantage of waivers with their limited roster flexibility. While the Kings too could lose players in early-season waivers, which would open up contract slots, that is not something they can depend on. Even if the club is content with their current roster and does not want to add any players early on, having no contract flexibility could hurt them down the road at the trade deadline or during the late-season college and junior free agency rushes. Look for L.A. to make a move at some point in time to add some flexibility, regardless of the end result with young Clarke.
The Tampa Bay Lighting (48 contracts with two potential exemptions) and the Toronto Maple Leafs and Vegas Golden Knights (47 contracts with one potential exemption) could be other teams looking to add some flexibility, not to mention some salary cap space.
Edmonton Oilers To Buy Out James Neal
The Edmonton Oilers have placed James Neal on unconditional waivers today for the purpose of a buyout. He joins Martin Jones and Braden Holtby as three players bought out just as the first window expires. The Oilers will be on the hook for four seasons of cap penalties after the buyout is executed. The cap hits will be as follows:
- 2021-22: $1,916,667
- 2022-23: $1,916,667
- 2023-24: $1,916,667
- 2024-25: $1,916,667
Neal, 33, was once one of the most consistent goal-scorers in the NHL, recording ten straight seasons of at least 21 goals to start his career. He even reached 19 during the 2019-20 season with Edmonton, though 12 of them were on the powerplay and 14 came in the first 26 games of the season. Neal managed just five goals and ten points in 29 games this year for the Oilers, essentially losing his roster spot to other, cheaper forwards. The buyout today only confirms that, as the team moves in another direction.
Edmonton decided not to buy out Mikko Koskinen, but the Neal transaction will open up nearly $4MM in cap space that they can use moving forward. With Adam Larsson on to Seattle, the team is in dire need of a right-shot defenseman to play in the top-four, along with several forwards to help take some of the pressure off Connor McDavid and Leon Draisaitl. Neal was no longer going to be able to fill that role, meaning he had to go one way or another.
Still, it’s going to be tough looking down at a $1.9MM cap hit three years from now, when the cap still might not have increased at all and the Oilers are nearing the end of the contracts with their two stars. It was a necessary move to compete in the short-term, but having Neal on the books for four years is going to be painful.
Photo courtesy of USA Today Sports Images
San Jose Sharks To Buy Out Martin Jones
The goaltending carousel continues today, as Pierre LeBrun of The Athletic tweets that Martin Jones will be bought out by the San Jose Sharks. The veteran goaltender will be placed on unconditional waivers today as the first buyout window comes to a close. With three years left on his current deal, San Jose will now be forced to carry a buyout penalty through the 2026-27 season. Those penalties will be:
- 2021-22: $1,916,667
- 2022-23: $2,416,667
- 2023-24: $2,916,667
- 2024-25: $1,666,667
- 2025-26: $1,666,667
- 2026-27: $1,666,667
Jones, 31, has been one of the worst starting goaltenders in the league over the last three seasons, posting an .896 save percentage in each campaign. Despite that poor performance, he’s still received 135 starts from the Sharks and incredibly has a winning record at 68-53-11. Even this season, despite the Sharks finishing seven games below .500, Jones still went 15-13-4. It’s entirely reasonable to suggest that the team wouldn’t be in the troubling situation they are with better goaltending, and they’ll finally get to test that theory by moving on from Jones.
The Sharks brought in Adin Hill just before the expansion draft and could hand him the reins, though bringing in another veteran goaltender to share the load is likely. Hill also needs to be signed, as he currently is a pending restricted free agent with arbitration rights. The 25-year-old netminder has just 49 games of NHL experience under his belt, though has posted a .915 save percentage over the last two seasons, a significant upgrade from the performance that Jones was providing.
What Jones’ market in free agency will look like is anyone’s guess, given how poorly he has played for the last three seasons. With so much money still being paid out by the Sharks, a short-term low-cost contract as a tandem or backup could be his best scenario to prove he can still play at the NHL level.
Vancouver Canucks To Buy Out Jake Virtanen
July 26: Virtanen has cleared waivers and will be bought out.
July 25: The Vancouver Canucks have placed Jake Virtanen on unconditional waivers for the purpose of a buyout. Because he is still just 24, the Canucks will be on the hook for just one-third of Virtanen’s remaining salary. That means the team will face a buyout penalty of $50K in 2021-22 and $500K in 2022-23. Tomorrow, when the buyout is executed, Virtanen will be an unrestricted free agent.
After scoring 18 goals in 69 games for the Canucks during the 2019-20 season, Virtanen completely fell off a cliff this year. He registered just five goals and zero assists in 38 games, essentially playing himself completely out of Vancouver’s plans. It wasn’t the first time he’d disappointed management, as Canucks GM Jim Benning was open about how he “expected more” from the young power forward in last year’s playoff bubble.
Importantly, Virtanen’s on-ice play warranted this buyout, but the Canucks are also washing their hands of a player embroiled in off-ice scandal. Earlier this summer, a civil lawsuit was filed in Kelowna, British Columbia, alleging Virtanen sexually assaulted a woman in 2017. On May 1, the Canucks placed Virtanen on leave from the team, releasing this statement:
We have become aware of the concerning allegations made about Jake Virtanen. Our organization does not accept sexual misconduct of any kind and the claims as reported are being treated very seriously by us.
We have engaged external expertise to assist in an independent investigation and we have placed the player on leave as we await more information.
The results of that investigation have not been released. Virtanen has since responded to the civil court filing, denying the allegations.
After 317 games in the NHL, the sixth-overall pick from 2014 has scored 55 goals and 100 points. There have been flashes of brilliance, using his size and speed to create scoring opportunities seemingly at a whim. There have also been long stretches of inconsistency, during which Virtanen provides very little value to the team at either end of the rink. With the Canucks recently bringing in a cap hit like Oliver Ekman-Larsson and a top-six forward like Conor Garland, there was simply no room for Virtanen or his $2.55MM cap hit in Vancouver.
Tony DeAngelo, Lean Bergmann Placed On Unconditional Waivers
July 24: Both players have cleared, meaning they will become unrestricted free agents. Bergmann’s deal will be terminated and not carry a cap hit for the Sharks, while DeAngelo will be bought out.
July 23: Tony DeAngelo is expected to be placed on unconditional waivers today for the purpose of a contract buyout by the New York Rangers, according to Frank Seravalli of Daily Faceoff and Pierre LeBrun of The Athletic. Unlike players with no-movement clauses like Zach Parise, Ryan Suter and Keith Yandle, DeAngelo will have to wait a day for his buyout to become official. Chris Johnston of Sportsnet reports that Lean Bergmann from the San Jose Sharks is also on waivers. A Bergman buyout would cost the Sharks just $142,917 in 2021-22 and $138,750 in 2022-23, but actually doesn’t make much sense. He could also be on unconditional waivers for the purpose of a mutual termination of the final year of his entry-level contract, which would result in no cap penalty for the Sharks. Either way, Bergmann will also become an unrestricted free agent tomorrow.
Because he is still just 25 years old, the Rangers will be on the hook for just one-third of his remaining salary. That means the team will incur a cap penalty of $383,334 for the 2021-22 season and $883,334 for 2022-23.
It’s a rather small price to pay for the Rangers, though obviously it would have been much better if this situation never happened in the first place. The young defenseman scored 53 points in 68 games during the 2019-20 season, establishing himself as one of the best offensive defensemen in the league. A series of run-ins with teammates eventually broke the trust between player and organization, leading to his dismissal from the club for the majority of 2020-21.
A buyout was always the eventual outcome, though the Rangers took the time they had to make sure it was the only conclusion worth pursuing. Other teams could have had DeAngelo for a fraction of his on-ice worth, but obviously no one wanted the public relations headache that came along with it—or at least not while he still carried a $4.8MM cap hit.
Once bought out, DeAngelo will become an unrestricted free agent allowed to sign with any team.
Minnesota Wild To Buy Out Zach Parise, Ryan Suter
In a shocking turn of events, the Minnesota Wild have begun the buyout process for both Zach Parise and Ryan Suter. Because they have no-movement causes, they do not need to go through the unconditional waiver process. Both players are on identical 13-year, $98MM contracts that were signed in 2012; a buyout would cause cap penalties of the following for each player:
- 2021-22: $2,371,794
- 2022-23: $6,371,794
- 2023-24: $7,371,794
- 2024-25: $7,371,794
- 2025-26: $833,333
- 2026-27: $833,333
- 2027-28: $833,333
- 2028-29: $833,333
Amazingly, because of the way their contracts were so heavily front-loaded, each player will only receive $6,666,667 in actual salary over the eight years of the buyout. It clears more than $10MM of cap space for the upcoming season, though obviously creates a huge cap penalty in years 2-4 of the buyout.
It’s the end of an era in Minnesota, as Suter and Parise have been the faces of the franchise for nearly a decade. Their signing in 2012 shocked the hockey world, as they decided to go to a relatively new team that had missed the playoffs in eight of its 11 years of existence. When they arrived, things immediately turned positive for Minnesota, reaching the playoffs in each of the next six seasons, but there was very little postseason success. Now, after another disappointing first-round exit, GM Bill Guerin has decided to do what was unthinkable until recently. He released a statement on the move, thanking both players for their contributions:
Zach and Ryan have been an integral part of the Wild’s success over the past nine years and we’ll always be grateful for their many contributions. There were numerous factors that entered into the difficult decision to buy out their contracts, but primarily these moves are a continuation of the transformation of our roster aimed at the eventual goal of winning a Stanley Cup.
Parise, 36, had been pushed almost entirely out of the lineup, dressing only occasionally down the stretch and playing in just four of the team’s seven postseason games. He managed to record three points in those four matches, but had just 18 in his 45 regular season games. His role moving forward was completely unclear, but now he’ll at least get the chance to test the open market. The New York Islanders and GM Lou Lamoriello had been interested in the past, but it remains to be seen whether they’ll pursue the veteran forward this time around.
For Suter, who also turned 36 in January, things are a little different. Though his offensive numbers fell off a cliff this season, recording just 19 points in 56 games, he is still a valuable top-four defenseman that likely could have helped the Wild next season. The key to both buyouts really is that it will open two protection slots in the upcoming expansion draft, which the Wild can use to block Seattle from some of their younger, more valuable assets. Suter and Parise each held a no-movement clause that would have forced Minnesota to protect them in the draft, meaning if this buyout was going to happen, it needed to be done before the protection lists are submitted later this week.
Looking at a cap penalty of nearly $15MM is daunting, but it is important to remember that their regular cap hits would have combined for more than that anyway. If the Wild believe that the two will not be regular contributors in two years, this actually frees up a (small) amount in those seasons as well. Had they waited another year, for instance, there would have been very little cap savings at all, meaning it was a now-or-never situation. The benefit here is opening up more than $10MM (and two expansion slots) at a time when the Wild are looking at key negotiations with Kirill Kaprizov and Kevin Fiala. The team has also been loosely connected to players like Jack Eichel and Sam Reinhart, who could help fill out the center ice position that has been deemed so important to Kaprizov’s future with the team.
That does not mean it’s the end for Parise and Suter, who will enter the free agent market as attractive assets now that they can be had for a much lower cost. Just yesterday, the Edmonton Oilers for instance traded for Duncan Keith, who will likely cost more than Suter receives on the open market. Though he doesn’t have the kind of playoff success that Keith does, there’s certainly going to be a market for the 36-year-old defenseman. Parise’s might be a bit smaller, but remember he is still only a year removed from a 25-goal campaign and has more than 800 points in his NHL career. For a contender looking to add depth to the lineup for a reasonable price, there are worse gambles to make.
Michael Russo of The Athletic broke the news on Twitter.
Photo courtesy of USA Today Sports Images
Snapshots: Perry, Stephenson, Fantilli
Corey Perry was pretty close to not even being around for this Montreal Canadiens postseason run. The veteran forward’s agent Pat Morris told Pierre LeBrun of The Athletic that he personally called three teams when Perry was placed on waivers at the beginning of the season, asking them not to put in a claim and let him stay with Montreal. Two of those teams apparently told Morris they would have if he hadn’t called, but decided to “respect his career” and leave him with the Canadiens.
Perry ended up clearing, giving the Canadiens flexibility to bounce him back and forth from taxi squad to active roster, saving cap space in the process. He ended up playing in 49 regular season games and became one of the team’s most important forwards, playing a huge role in the postseason. The 36-year-old has three goals and eight points in 15 playoff games, including the game-winner in game seven against the Toronto Maple Leafs.
- Chandler Stephenson is a game-time decision for the Vegas Golden Knights tonight against Perry and the Canadiens. The 27-year-old has developed into a top-line center with the Golden Knights this season, scoring 35 points in 51 regular season games, usually skating between Mark Stone and Max Pacioretty. Though he has failed to score a goal in 14 playoff games so far, he does have six points and has been excellent in the faceoff circle. Stephenson of course won the Stanley Cup with the Washington Capitals in 2018 (defeating the Golden Knights) and would be a welcome addition to the lineup for this evening’s match.
- Though there had been some speculation that Adam Fantilli could leave the USHL next season, the top prospect will be back with the Chicago Steel for 2021-22 according to Corey Pronman of The Athletic. The 16-year-old is not eligible for the NHL draft until 2023 but is already turning heads after a 36-point campaign with Chicago this season. His eight goals in the playoffs were enough to Clark Cup MVP, helping the Steel secure the trophy for the second time. Fantilli, who is from Nobleton, Ontario, was actually drafted 18th overall by the Saginaw Spirit of the OHL in 2020 but would not be eligible for the NCAA if he decided to play in the CHL.