Forbes ranks Maple Leafs #1… In franchise value

Maple Leafs fans haven’t had much in the way of success to get excited about over the last few years. Hell, they haven’t had a lot to be happy about for quite some time really.  Today, though, the Leafs can have some sense of pride over being ranked #1 in something. Sure, it’s not being ranked #1 in terms of team success, but the Leafs are, once again, the NHL’s most valuable franchise according to Forbes Magazine.

The Leafs top Forbes’ list of most valuable franchises with a value of $505 million. That total is made more interesting today with the news of Rogers in Canada being interested in buying the Leafs in a package deal worth over $1 billion. It’s got to be nice to be wanted after all. Coming in second are the New York Rangers worth $461 million. Being Manhattan’s only team has its advantages as does playing your home games in Madison Square Garden.

In third, it’s the Leafs biggest rivals, the Montreal Canadiens. Montreal checks in with a franchise value of $408 million, something which the new owners, the Molson family, are happy to hear about. In fourth, the Detroit Red Wings come in worth $315 million. Years of success and a monstrous fan base ensure the worth of the Wings. The fifth most valuable team are the Boston Bruins checking in at $302 million.

Rounding out the top ten are the Philadelphia Flyers in sixth, Chicago Blackhawks seventh, Vancouver Canucks in eighth, Pittsburgh Penguins in ninth, and the Dallas Stars in tenth with a value of $227 million. Fascinating to see the Stars ranked so high especially with the team’s ownership currently in flux as they look for a new owner to take over operations. How much you want to bet Brad Richards is taking notice of the team’s worth as he looks towards getting a new contract.

As for the overall look at the league, Forbes says that the split between the haves and the have-nots is becoming a bit more distinct.

During the 2009-’10 season the 30 teams combined to generate $160 million of operating income (earnings before interest, taxes, depreciation and amortization) on revenue (net of proceeds required for arena debt) of $2.9 billion. But seven teams (the Toronto Maple Leafs, New York Rangers, Montreal Canadiens, Red Wings, Philadelphia Flyers, Black Hawks and Vancouver Canucks) combined to earn $241 million, with none making less than $13 million. Meanwhile, 16 teams were in the red, with the six biggest money-losers (Phoenix Coyotes, Florida Panthers, Washington Capitals, Atlanta Thrashers, Buffalo Sabres and Tampa Bay Lightning) dropping an aggregate of $63 million.

It’s odd seeing the Capitals in the mix with the likes of the Panthers and Lightning, but all three of those teams have seen ownership shifting of one variety or another. Caps owner Ted Leonsis bought the NBA’s Washington Wizards. The Panthers and Lightning saw ownership shifts with Cliff Viner coming to power with the Panthers and Jeff Vinik buying the Lightning.

For now though Leafs fans, enjoy the day for being the league’s most valuable team. We’re sure that the fans know all too well given that the Leafs have some of the highest ticket prices in the league.

Draisaitl on signing with Oilers: ‘We have something really special’

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As a restricted free agent, Leon Draisaitl only had so much say regarding his future with the Edmonton Oilers, especially since teams rarely send offer sheets around in the NHL.

Even so, Draisaitl could have opted for a “bridge” deal; instead, he signed for the maximum of eight years for a whopping $68 million on Wednesday.

Some would probably grumble but understand if Draisaitl explained his rational by pointing at one of those big checks or at a calculator. Instead, the promising young forward explained that he believes that the Oilers have a bright future, and he wants to be a part of it.

In case you’re wondering, additional details have surfaced regarding the year-to-year breakdown of Draisaitl’s deal. TVA’s Renaud Lavoie also reports that Draisaitl has a no-movement clause, thus making it that much more likely that he’ll get his wish to stick with the Oilers:

Of course, with Draisaitl and Connor McDavid combining for a $21M cap hit beginning in 2018-19, the bigger question is not whether they will stay, but who the Oilers will manage to keep in the fold.

Still, that’s for GM Peter Chiarelli & Co. to decide. For Draisaitl, this is a great moment, and he might even be able to back up that big contract with big results on the ice.

Cullen explains why he chose Wild over Penguins

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If you check out a bio on Matt Cullen, you’ll notice that he’s from Minnesota. It doesn’t take a leak, then, to explain why Cullen signed a one-year deal with the Minnesota Wild on Wednesday.

As Cullen explained to Michael Russo of the Minneapolis Star-Tribune, “this is a family decision.” As he goes deeper into his logic, even especially sore Pittsburgh Penguins fans should probably understand Cullen’s perspective.

“Minnesota is home and it’s a special place for me,” Cullen said. “It’s not easy to say goodbye and it’s not easy to walk away [from Pittsburgh]. I’m confident in the decision we’re making and it’s the right thing for our family. But at the same time, it’s not an easy one.

Now, to be fair, Cullen also told Russo that he believes the Wild are a “hungry” team that might have been the West’s best in 2016-17. It’s not like he’s roughing it, and surely the $1 million (and $700K in performance bonuses that Wild GM Chuck Fletcher hopes Cullen collects) didn’t hurt, either.

Still, such a decision makes extra sense for a 40-year-old who’s played for eight different NHL teams during his impressive career. Russo’s story about Cullen attending his kids games and seeing his brothers is worth a read just for those warm and fuzzy feelings we often forget about in crunching the numbers and pondering which teams might be big-time contenders in 2017-18.

This isn’t to say that getting a fourth Stanley Cup ring wouldn’t be appealing to Cullen, but perhaps he’ll get his family time and win big, too?

There’s also the familiarity that comes with playing three fairly recent seasons with the Wild, so Cullen’s choice seems like it checks a lot of the boxes.

In other positive Wild news, Russo reports that Eric Staal is feeling 100 percent after suffering a concussion during the playoffs.

Tuesday was Wild day at PHT, but perhaps this feels more like Wild week?

Bovada gives McDavid higher odds than Crosby to win Hart in 2017-18

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In handing Connor McDavid an eight-year, $100 million extension, the Edmonton Oilers essentially are paying the 20-year-old star based on the assumption that he’ll provide MVP-quality play.

At least one Vegas oddsmaker agrees, as Bovada tabbed McDavid as the favorite to win the Hart Trophy, edging Sidney Crosby.

That’s interesting, yet it might be even more interesting to note where other players fall in the rankings. Auston Matthews coming in third is particularly intriguing.

Who are some of the more interesting choices? The 20/1 range seems appealing, as Carey Price is one of the few goalies with the notoriety to push for such honors while John Tavares has the skill and financial motivation to produce the best work of his career next season.

Anyway, entertain yourself with those odds, via Bovada: (Quick note: Bovada originally had Artemi Panarin listed as still playing with Chicago. PHT went ahead and fixed that in the bit below.)

2017 – 2018 – Who will win the Hart Memorial Trophy as the NHL’s Most Valuable Player?
Connor McDavid (EDM)                         3/2
Sidney Crosby (PIT)                              5/2
Auston Matthews (TOR)                         17/2
Alex Ovechkin (WAS)                            9/1
Patrick Kane (CHI)                                 14/1
Vladimir Tarasenko (STL)                       15/1
Evgeni Malkin (PIT)                                16/1
Carey Price (MON)                                 20/1
John Tavares (NYI)                                20/1
Jamie Benn (DAL)                                 25/1
Steven Stamkos (TB)                             25/1
Erik Karlsson (OTT)                               33/1
Nikita Kucherov (TB)                              33/1
Jack Eichel (BUF)                                  50/1
Ryan Getzlaf (ANA)                               50/1
Patrik Laine (WPG)                                50/1
Brad Marchand (BOS)                            50/1
Tyler Seguin (DAL)                                50/1
Nicklas Backstrom (WAS)                      60/1
Brent Burns (SJ)                                    60/1
Braden Holtby (WAS)                            60/1
Phil Kessel (PIT)                                    60/1
Artemi Panarin (CBJ)                              60/1
Joe Pavelski (SJ)                                  60/1

Oilers cap situation is scary, and not just because of Draisaitl, McDavid

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The Edmonton Oilers pulled the trigger – and likely made teams with big RFA headaches like the Boston Bruins grimace – in signing Leon Draisaitl to a massive eight-year, $68 million contract on Wednesday.

You have to do a little stretching to call it a good deal, although credit Puck Daddy’s Greg Wyshysnki with some reasonably stated optimism.

Either way, the per-year cap bill for Connor McDavid and Draisaitl is $21 million once McDavid’s extension kicks in starting in 2018-19; that’s the same combined cost that Jonathan Toews and Patrick Kane receive … and those two got those paydays after they won three Stanley Cups for the Chicago Blackhawks.

Now, if the Oilers struggle in the near future, plenty of people will heap blame on McDavid and/or Draisaitl. Really, though, the true scapegoats should be a management team with more strikeouts than homers.

(As usual, Cap Friendly was a key resource in studying Edmonton’s salary structure.)

Bloated supporting cast

There are some frightening contracts on the books in Edmonton, especially if a few situations work out unfavorably.

At 29, there’s severe risk of regression with Milan Lucic, even if he enjoys a more stable second season with Edmonton. He carries a $6M cap hit through 2022-23, so he’ll be on the books for all but two years of Draisaitl’s new deal.

Kris Russell costs $4.167M during a four-year stretch, and even now, he has plenty of critics. Those complaints may only get louder if, at 30, he also starts to slip from his already debatable spot.

Andrej Sekera‘s been a useful blueliner, yet there’s some concern that time won’t treat him kindly. He’s dealing with injuries heading into 2017-18, and at 31, there’s always the risk that his best days are behind him. Not great for a guy carrying a $5.5M cap hit through 2020-21.

One can’t help but wonder if Ryan Nugent-Hopkins might be an odd man out once the shackles of the salary cap really tighten. Just consider how much Edmonton is spending on a limited number of players, and you wonder if the 24-year-old will be deemed too pricey at his $6M clip.

Yeah, not ideal.

It’s not all bad

Now, let’s be fair.

RNH could easily grow into being well worth that $6M. Draisaitl may also justify his hefty price tag. McDavid honestly cut the Oilers a relative deal by taking $12.5M instead of the maximum.

The Oilers also have two quality, 24-year-old defensemen locked up to team-friendly deals: Oscar Klefbom ($4.167M through 2022-23) and Adam Larsson ($4.167M through 2020-21). They need every bargain they can get, and those two figure to fit the bill.

Crucial future negotiations

GM Peter Chiarelli’s had a questionable history of getting good deals. He’ll need to get together soon, or the Oilers will really struggle to surround their core with helpful support.

Cam Talbot is a brilliant bargain at the strangely familiar cap hit of $4.167M, but that value only lasts through 2018-19. After that, he’s eligible to become a UFA, and could be massively expensive if he produces two more strong seasons.

The bright side is that the Oilers aren’t locked into an expensive goalie, so they can look for deals. That isn’t as sunny a situation if you don’t trust management to have much success in the bargain bin.

Talbot isn’t the only upcoming expiring contract. The Oilers have serious questions to answer with Darnell Nurse and Ryan Strome. Also, will they need to let Lucic-like winger Patrick Maroon go? Even with mild relief in Mark Fayne‘s money coming off the books, the Oilers might regret this buffet when the bills start piling up next summer.

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Look, the truth is that management is likely to be propped up by the top-end in Edmonton, particularly in the case of McDavid’s otherworldly skills. As much as that Draisaitl deal looks like an overpay – possibly a massive one – there’s a chance that he lives up to that $8.5M, too.

It’s not just about those stars, though.

The Pittsburgh Penguins gained new life by complimenting Sidney Crosby and Evgeni Malkin with the likes of Phil Kessel. The Blackhawks have struggled once they couldn’t afford as much help for Kane and Toews.

You have to mix your premium items with bargains, and one wonders if the Oilers will be able to spot sufficient value beyond the no-brainer top guys. Their recent history in that area certainly leaves a lot to be desired.