Cap Space: The Washington Salary Situation
The Washington Capitals have had a very interesting offseason. After being knocked out of the playoffs once again by the Pittsburgh Penguins, they’ve seen wholesale changes to their team structure and will head into 2017-18 with a much different look. Out went Justin Williams, Kevin Shattenkirk, Karl Alzner, Nate Schmidt, Daniel Winnik, Marcus Johansson and in came, well, almost nothing. The team did bring in Devante Smith-Pelly as a bottom-six option, but spent most of their time re-signing players like T.J. Oshie, Evgeny Kuznetsov and Dmitry Orlov to long-term deals that will keep them in town until at least 2023. Those extensions came with a price—not only were they forced to move Johansson in a salary dump to division rival New Jersey, but they’re in cap trouble heading into the season already.
When taking a look at the CapFriendly page for the Capitals, you will notice that they currently have about $4.1MM in space for the upcoming season. With that knowledge, you might surmise that they’ll be able to add at least a couple of veteran options to help them, or a bounce-back candidate or two. What you have to remember though, is that the Capitals are at their $70.9MM projected cap hit for just 17 players. A regular NHL roster holds 23, meaning there are several names coming up from the minors to fill the ranks.
Yes, the Capitals do have several players in the minor leagues who should be able to contribute positively this year like Christian Djoos, Nathan Walker and Chandler Stephenson, but each one comes with a cost of their own. Just because they’re on entry-level or two-way contracts doesn’t mean they’re free, and with each call up a minimum of $650K is added to that cap number. For some, like Jakub Vrana a top option to make the team after a solid season split between the AHL and NHL last year that number creeps even higher.
Even if you take that minimum $650K number for the six players to be added, it ends up putting the Capitals less than $200K under the cap to start the season meaning even a $1MM contract for a veteran option like Thomas Vanek would be out of their price range. Sure, there are ways they could work around the cap like any team but the clear picture here is that they’ve put themselves in quite a precarious position. Even if they work some magic to be right up against the cap with some help, any performance bonuses earned by those on entry-level deals will carry over to next season and put them in a tough position again when faced with the free agency of John Carlson. Washington relies on Carlson as a huge part of their defense corps, and seeing him walk because they didn’t have the money to pay him would set them back even further.
So when wondering if the Capitals can afford to make any more moves in free agency, or a trade that takes on a bit of salary don’t look at the $4.1MM cap space figure. They’re much closer than that in reality, and could be forced into relying on quite a young roster this season.
Top 2018 Draft Picks That Have Already Been Traded
About 11 months from now, 31 NHL general managers will come together in a room with thousands of people watching and select the next group of young players destined to make it to the professional ranks. The 2018 NHL Entry Draft will be a huge event, mostly because of the elite talent that will be available at the top.
Without a clear consensus on the top pick so far, the next year will be extremely interesting to watch for prospect hounds. Andrei Svechnikov, Rasmus Dahlin, Joe Veleno, Quinn Hughes and others all have incredible talent, and could push for the top spot with a big year (and perhaps a growth spurt or two). Like this year, we could also see a relative outsider like Nico Hischier fly up the ranks to take over the top spot by draft day. One thing is for sure though, that there is plenty of talent to find in the first round and beyond at next year’s draft.
It has already been clear that teams don’t want to give up their 2018 draft picks, as we saw with the collection of selections acquired by the Vegas Golden Knights. They have multiple second-round picks in 2019 and 2020, but couldn’t secure an extra top pick in 2018. That said, there have already been many transactions that have moved picks around. Here are the teams that have acquired extra picks in the first three rounds of the 2018 draft (key player traded in parentheses).
Arizona Coyotes:
Acquired 2018 2nd-round pick from Minnesota Wild (Hanzal)
Detroit Red Wings:
Acquired 2018 2nd-round pick (OTT) from New York Rangers (Smith)
Florida Panthers:
Acquired 2018 2nd-round pick from Arizona Coyotes (Crouse)
Minnesota Wild:
Acquired 2018 3rd-round pick from Buffalo Sabres (Scandella)
Acquired 2018 3rd-round pick from Vegas Golden Knights (Tuch)
Montreal Canadiens:
Acquired 2018 2nd-round pick from Chicago Blackhawks (Weise)
New York Islanders:
Acquired 2018 1st-round pick from Calgary Flames (Hamonic)
Acquired 2018 2nd-round pick from Calgary Flames (Hamonic)
Philadelphia Flyers:
Acquired conditional 2018 1st-round from St. Louis Blues (Schenn)
Tampa Bay Lightning:
Acquired conditional 2018 2nd-round pick (WSH) from Montreal Canadiens (Drouin)
Toronto Maple Leafs:
Acquired 2018 2nd-round pick from San Jose Sharks (Polak)
Acquired 2018 3rd-round pick from San Jose Sharks (Reimer)
Washington Capitals:
Acquired 2018 2nd-round pick (FLA) from New Jersey Devils (Johansson)
Acquired 2018 3rd-round pick (TOR) from New Jersey Devils (Johansson)
Minor Transactions: 7/25/17
For a Tuesday in late July, it’s been an especially busy day for hockey transactions, including the NHL signings of Mika Zibanejad with the New York Rangers, Robin Lehner with the Buffalo Sabres, Mark Streit with the Montreal Canadiens, and several deals by the Colorado Avalanche and New Jersey Devils. Yet, there has been a flurry of notable activity in the AHL and overseas today too, including the following:
- The once-promising NHL career of Matt Fraser has taken another odd turn away from its original path. Fraser, still just 27 years old, has signed with Dornbirner EC of the EBEL, a lower tier European league based mostly out of Austria. The team has announced the deal, though terms have not been released. Fraser moves to the EBEL after a season in Sweden, where injuries limited him to only four games with Rogle BK. Before that, many will remember Fraser as a star in the AHL for the Texas Stars and, after the Tyler Seguin trade, the Providence Bruins. Fraser even played in 60 NHL games with the Boston Bruins and Edmonton Oilers in 2014-15 and looked to be on his way to becoming an NHL regular. However, after signing a one-year deal with the Winnipeg Jets in 2015 and failing to make the team, Fraser had the worst AHL season of his career and decided to head overseas. So far, it has not worked out, but Fraser will now try his hand at EBEL action, where he could easily be the best player for Dornbirner, who currently count another former Bruin, Jamie Arniel, as their top scorer.
- Another player who failed to meet expectatiosn in North America and will now head to a lesser European league is Dane Fox. The former Erie Otters superstar, who scored 107 points in 67 games in his final OHL season, has not found anywhere near the same success at the pro level. A high-profile signing by the Vancouver Canucks in 2014, the undrafted forward has made his last junior season look very much like a fluke with his play since then. Fox has skated almost exclusively in the ECHL over the past three seasons, playing in only two AHL games and not even in consideration for an NHL look with the Canucks and Carolina Hurricanes. Now, Fox will head to Germany to play with the Nurnberg Ice Tigers of the DEL. Nurnberg is the likely favorite in the DEL next season and roster many players with NHL experience, including 2016-17 top scorer Steve Reinprecht and recent signee Tom Gilbert. Fox’s pro hockey career is very much up in the air right now, but if he can shine through on an experience Ice Tigers roster, perhaps he’ll get another shot in North America .
- The AHL’s San Diego Gulls, the Anaheim Ducks’ affiliate, has re-signed forward Jordan Samuels-Thomas to a two-year minor league deal, the league announced. The 27-year-old recorded a pro career-high 24 points and +13 rating for the Gulls last year and is a fan favorite and active member of the San Diego community. The former NCAA standout was a seventh-round pick of the Atlanta Thrashers in 2009, but was never signed to an entry-level deal after spending five years in college.
- The Chicago Wolves, now the new affiliate of the Vegas Golden Knights, have signed one of their own, inking Scooter Vaughan to a one-year deal, according to a team release. The hard-nosed defenseman worked his way up through hockey’s ranks, spending four years at the University of Michigan, three years in the ECHL, and going on four years in the AHL, with the last two spent in Chicago. The next stop could be the NHL, now that the Wolves are associated with the Knights, who obviously have the least organizational depth of any team in the league. A career-best performance in 2017-18 could earn Vaughan his first NHL contract next year.
- A pair of AHL defenseman will change teams for the upcoming season as Paul Geiger, recently of the Rochester Americans, has signed with the Hershey Bears, the Washington Capitals’ affiliate, while the Carolina Hurricanes’ minor league partners, the Charlotte Checkers, have signed former St. John’s Ice Caps defender Josiah Didier. Both Geiger and Didier are still just 24 years old and were solid college players, at Clarkson and Denver respectively, but need big seasons with their new teams after pedestrian starts to their pro careers, that is if they want to reach the NHL someday.
- The 2016-17 captain at Rensselaer Polytechnic Institute (RPI) has found his new home, and he’s in a good spot. Riley Bourbonnais, a 23-year-old center who was nearly a point per game player for RPI last year, has inked his first AHL deal with the Wilkes-Barre Scranton Penguins, the feeder team of the two-time Stanley Cup champs. The team announced their newest addition and have high hopes that he can bring the same well-rounded game he showed in college to the pros.
Dead Space: Bought-Out, Buried, And Retained Salaries For Every Team
It’s something that often goes unnoticed, but with the cap showing minimal growth the last few years, teams are starting to feel the crunch more than ever. Buyouts have become more common, especially with players with under three remaining years on their contracts. And it’s not just the big name busts that have seen the ax lately – we’ve seen lesser names at lesser money take the fall for their respective teams, then needing to scramble for work elsewhere in the league. Additionally, salary retention in trades has become a more utilized tactic as of late. Teams with “unmovable” contracts have offered to retain part of a poor contract in order to entice a team into giving them some relief.
All this said, some teams have been better with foresight than others. Some teams have shown a track record of being entirely unable of handing out poor contracts over the past five or so seasons. Considering many teams showed some progress in being more frugal this off-season, it seems a wise time to review the dead space every team has accumulated, either due to poor management decisions or poor luck.
Colorado Avalanche – $4.83 MM in 2017-18, issues resolved after current year – Francois Beauchemin buyout; Cody McLeod retained
Arizona Coyotes – $4.61 MM in 2017-18, issues resolved after 2020-21 – Mike Smith retained; Mike Ribeiro, Antoine Vermette buyouts
Columbus Blue Jackets – $4.025 MM in 2017-18, issues resolved after 2020-21 – Fedor Tyutin, Jared Boll, Scott Hartnell buyouts
Carolina Hurricanes – $3.71 MM in 2017-18, issues resolved after 2020-21 – Eddie Lack retained; Alexander Semin, James Wisniewski buyouts
Toronto Maple Leafs – $3.28 MM in 2017-18, issues resolved after 2021-22 – Tim Gleason, Jared Cowen buyouts; Phil Kessel retained
Nashville Predators – $2.83 MM in 2017-18, issues resolved after 2018-19 – Viktor Stalberg, Eric Nystrom, Barret Jackman buyouts
Boston Bruins – $2.73 MM in 2017-18, issues resolved 2019-20 – Dennis Seidenberg, Jimmy Hayes buyouts
New York Rangers – $2.61 MM in 2017-18, issues resolved after 2022-23 – Dan Girardi buyout
Minnesota Wild – $2.5 MM in 2017-17, issues resolved after current year – Thomas Vanek buyout
Los Angeles Kings – $2.4 MM in 2017-18, issues resolved after 2023-24 – Matt Greene buyout; Mike Richards termination/recapture
Edmonton Oilers – $2.33 MM in 2017-18, issues resolved after 2020-21 – Lauri Korpikoski, Benoit Pouliot buyouts
Anaheim Ducks – $2.21 MM in 2017-18, issues resolved after 2023-24 – Mark Fistric, Simon Despres buyouts; Patrick Maroon retained
Vancouver Canucks – $2.13 MM in 2017-18, issues resolved after 2021-22 – Roberto Luongo, Jannik Hansen retained; Chris Higgins buyout
New Jersey Devils – $2.09 MM in 2017-18, issues resolved after 2023-24 – Mike Cammalleri, Devante Smith-Pelly buyouts; Ilya Kovalchuk recapture
Tampa Bay Lightning – $1.83 MM in 2017-18, issues resolved after 2019-20 – Matt Carle buyout
Calgary Flames – $1.82 MM in 2017-18, issues resolved after 2018-19 – Mason Raymond, Lance Bouma, Ryan Murphy buyouts
Detroit Red Wings – $1.67 MM in 2017-18, issues resolved after 2020-21 – Stephen Weiss buyout
Dallas Stars – $1.5 MM in 2017-18, issues resolved after 2018-19- Antti Niemi buyout
Philadelphia Flyers – $1.5 MM in 2017-18, issues resolved after current year – R.J. Umberger buyout
Winnipeg Jets – $1.46 MM in 2017-18, issues resolved after 2018-19 – Mark Stuart buyout
Florida Panthers – $1.33 MM in 2017-18, issues resolved after 2018-19 – Jussi Jokinen buyout
Las Vegas Golden Knights – $1.1 MM in 2017-18, issues resolved after current year – Alexei Emelin retained
Ottawa Senators – $350,000 in 2017-18, issues resolved after current year – Andrew Hammond buried
Buffalo Sabres – Minimal in 2017-18, increased issues ($791,00) resolved after 2022-23 – Cody Hodgson buyout
Chicago Blackhawks, St. Louis Blues, Washington Capitals, Pittsburgh Penguins, New York Islanders, San Jose Sharks, Montreal Canadiens – No dead cap space
After compiling the list, it became clear that utilizing these options isn’t a complete hindrance to competing in the NHL. In fact, most clubs have between $1 MM and $3 MM in dead space. That said, of the teams that have not needed to utilize the buyout or retention options, there has been a great deal of success. And among the five worst offenders, the Leafs, Hurricanes, Blue Jackets, Avalanche, and Coyotes, none has moved past the first-round in multiple years. It’s hard to draw massive conclusions without taking the context of each individual situation into account, but there is something to be said for making every dollar of cap space count. Perhaps this is merely a byproduct of past success rather than an indicator of future success, but considering how amenable many managers have become to the option, it bears consideration.
(All totals courtesy of the fantastic CapFriendly.com)
Free Agent Profile: Johnny Oduya
Johnny Oduya is a name that has fallen off most hockey fanatics’ radar this off-season, and perhaps there is good reason for that. Oduya is 35 years old and came off a brutal playoff performance in their sweep against Nashville. The league is certainly trending in the “what have you done for me lately” direction, so no one should be entirely shocked that he remains unclaimed this deep into July.
That said, it’s still conceivable that he has a bounce back year. For a bargain bin price, he’s worth taking a shot on. Although his dreadful 2016-17 outing had him finish with only 9 points and an uninspiring 46.8% Corsi For, he’d been above the 50% mark the prior 5 seasons. He can lo longer handle a ton of minutes, and he will need sheltering from top competition, as many bottom-pairing defensemen do. He only averaged 18:16 of ice-time through the year, but considering that 59.3% of his zone starts were in the defensive end, he managed to hold his own. As a veteran 6th or 7th defenseman, he may still have something to offer.
Potential Suitors
The Blackhawks are seemingly always looking to re-unite with names from their past glories, but the fit may not be one Stan Bowman is willing to try again. He looked sluggish and out of sorts, and got blown by on numerous occasion by the depth players of Nashville. That said, the team will likely need at least another defenseman on the roster, so it’s not impossible. But with Duncan Keith (34), Brent Seabrook (32), and Michal Rozsival (38) already making up half the defense, do they really want to get older still?
Oduya hasn’t been definitively linked to practically anyone. It’s quite possible he’s holding on to see what opens up as teams enter training camp. Teams like the Washington Capitals, Philadelphia Flyers, and Los Angeles Kings could use another 6/7, and would be on the hunt for a bargain. The New Jersey Devils of course completely lacking on the back-end, and might want a mentor for 22 year olds Mirco Mueller, Damon Severson, and Michael Kapla. In truth, a good 50% of the league that could afford to take a chance on him for a single season, but the question remains, who will?
Ultimately, we aren’t likely to hear much chatter on this front until the arbitration period has passed. Teams want to have their organizational contracts set in stone before offering a contract to what will ultimately amount to a stop-gap defender solution.
Projected Contract
Last month, we projected a one-year, $2.5MM deal for Oduya back with Chicago, but they certainly no longer have him in their plans. We had him ranked at a respectable 32nd in a weak UFA class, but even that may have been overestimating his remaining value around the league. Oduya will likely have to settle for a one-year deal to prove he still “has it”, and the monetary value of that contract will be far less. He could always decide to play in Europe, but at the bare minimum he’ll attract at PTO, much like Cody Franson. If he does sign before the end of summer, it will likely be for under $1 MM, quite the paycut from his 2016-17 AAV of $3.75 MM.
Oshie Contract A Huge Gamble
When the Washington Capitals opted to re-sign T.J. Oshie to a $5.75 MM AAV for the next seven years, the hockey world was rightfully befuddled. Most expected Karl Alzner, Justin Williams and Oshie to depart, while the team locked up Evgeny Kuznetsov and retained other important pieces. Some anticipated the possible exposure or dumping of Brooks Orpik and his $5.5 MM for the next two seasons. Instead, the Capitals decided to pay the 30 year old Oshie to an extraordinarily long deal.
Oshie has indeed been one of the best wingers in the game over the last few seasons. He’s broken 50 points each of the last four campaigns, and his production on the powerplay has been incredibly valuable in maintaining high-octane offense. He’s also performed admirably in the post-season on a team where quite a few other individuals have fallen short. 22 of his 31 post-season points have come with Washington in just the last two years. That said, he will be 37 at the conclusion of this deal. It’s almost unheard of to maintain the production or speed you had at 30 when you are 37. Oshie’s decline could come as soon as the next few seasons. Oshie easily could have gotten this term on the open market as the best available winger, but is it wise to invest so heavily in this particular player?
In an off-season where many teams opted to go with shorter-term on unrestricted free agents, Oshie’s contract stands out as a future potential albatross. But how much will it impact Washington’s window? Well, the short answer is that we won’t know until the team finds itself playing games next spring.
Oshie’s signing, in conjunction with the Kuznetzov signing, forced the movement of Marcus Johansson from the roster. Johansson actually scored more points than Oshie last year, and his game is more well-rounded. Oshie’s Corsi For % has consistently declined over the last two seasons in Washington, Johansson’s has increased. Although Oshie has greater creativity and flash, Johansson has been a consistent performer of late, and had two years remaining on a very reasonable $4.58 MM contract. Perhaps more importantly, Johansson is four years Oshie’s junior. On a team that will need to fill gaps internally, going with the younger player is not often the wrong decision. Especially with losing both Nate Schmidt and Alzner on the backend, they will need younger players to contribute at every position in relief this season.
Ultimately, this decision will be judged in terms of post-season success. Still, when the team has lost two top-six wingers and a top pairing defenseman, it’s hard not to question the management’s handling of the situation. Alex Ovechkin and crew are still looking for a conference finals berth, and taking such steps backwards in the Metropolitan Division can only draw fire from an increasingly frustrated fanbase.
Washington Capitals Sign Liam O'Brien
- The Washington Capitals have signed their last remaining restricted free agent, inking Liam O’Brien to a one-year two-way contract. O’Brien will earn $650K at the NHL level, but that would be a big jump for the undrafted forward. O’Brien has just 14 NHL games to his name, and just a single one over the past two seasons. It’s hard to see him making enough of an impact to get a bigger role for the Capitals this season.
Stanislav Galiev Signs In KHL
Stanislav Galiev became a Group VI unrestricted free agent this summer, and after struggling to find a role for the Washington Capitals has signed in the KHL. The forward has inked a two-year contract with Ak Bars. Galiev was clear in his exit meeting with the Hershey Bears of the AHL, saying that he was ready for “something different.”
That new opportunity will come back in his home country of Russia, a place he hasn’t played hockey for nearly a decade. Galiev first came over to North America in 2008 to play in the USHL, before winning a Memorial Cup with Gerard Gallant and the Saint John Sea Dogs. Drafted in the third round, Galiev has played just 26 NHL games so far but remains an excellent AHL scoring threat. His 40 points in 56 games last season for Hershey wasn’t enough to get him a look with the Capitals, likely leading to his departure.
Ak Bars went 38-18-4 last season, and should be successful again led by young center Vladimir Tkachyov. Galiev will give them another highly talented offensive player to try and boost their goal scoring, something that they lacked at times last year. He’ll be 27 when his contract expires, and could then consider a move back to the NHL should his game mature.
Evgeny Kuznetsov Turned Down Huge Offer From KHL
- Evgeny Kuznetsov was locked into a huge contract by the Washington Capitals, and part of it is because of the real threat the KHL posed. Even without the attraction of playing for Russia at the Olympics, Friedman writes that there were rumors of a $10MM per season contract for Kuznetsov a huge number to turn down. Losing Kuznetsov in a year when Kevin Shattenkirk, Karl Alzner, Justin Williams and Nate Schmidt have all found new homes would have been one of the hardest offseasons imaginable for the Capitals.
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Garrett Mitchell Returns To Hershey Bears
One of the feel-good stories of the 2016-17 NHL season is making rounds once again. Garrett Mitchell, the captain of the AHL’s Hersey Bears, will return to the team in 2017-18. The team announced a new one-year deal with their locker room leader today.
Mitchell, 25, has been an alternate captain or captain for the Bears over the past four years and has been with the team for the past six, playing all but three of his 356 pro games with Hershey. One of those three outliers came in April, when the Washington Capitals rewarded Mitchell with his first career call-up and NHL game, much to the excitement of his teammates in Hersey.
A 2009 sixth-round pick, Mitchell has only produced modest offense in the AHL, but has been invaluable to the team for his leadership and responsible play. The Capitals, in appreciation of his role in helping to develop and protect their other AHL prospects, gave Mitchell, an impending free agent, the thrill of what was likely his first and only NHL experience. His new contract keeps him in Hersey, but as a minor league contract he is no longer property of the Capitals. Mitchell will continue to be the captain of the Bears and will help to make up for some the offense lost due to the departures of Paul Carey and Stanislav Galiev, so even though his NHL aspirations may be over, Mitchell will continue to be a well-regarded player and teammate and a fan favorite in Hershey.