Report: Blue Jackets lost $25 million last season, $80 million over six years

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The NHL has been a bit busy lately with handling things with the Phoenix Coyotes and their fight to stay in Glendale as well as keeping an eye on things with the Atlanta Thrashers and their ownership boondoggle but those two teams aren’t the only ones with major problems.

Another recent expansion team that’s having money woes are the Columbus Blue Jackets. Generally when fans start thinking of expansion teams that have a hard time fitting in and making money, they turn to the Coyotes, Thrashers, and Florida Panthers but the Blue Jackets are a different kind of mess unto themselves. In their ten years in the league, they’ve made the playoffs just once getting swept out in the first round by rival Detroit in 2008.

With that history of not winning in a new place it shouldn’t be a big surprise that the Blue Jackets are still losing money and it’s only getting worse. According to NHL sources, Columbus lost $25 million last season, a $14 million increase in losses from the previous season. The team has lost a total of $80 million since the 2004-2005 lockout.

The Columbus Dispatch’s Aaron Portzline has some reasons why the team has bled money.

There are four main reasons for the sharp increase in losses: rising player salaries, plummeting attendance, a 25 percent cut in the Blue Jackets’ revenue sharing check, and the ongoing (endless?) lease agreement issues between the Blue Jackets and Nationwide Arena.

Sounds like a familiar recipe for a team to be relocated. In this case, the Blue Jackets are under no serious threat to be moved. Owner John P. McConnell is doing his part to try to keep things straight in Columbus. The one solution to try and fix things there though is simple: Win.

Columbus making the playoffs just once in team history with other seasons being mostly miserable ones with no hope, the shine is off the team for being something new and fun. Now it’s time for results and unfortunately after years of poor management and personnel decisions it takes time to get things fixed up.

Rick Nash is the team’s one marketable superstar and while there’s some solid talent otherwise in Jakub Voracek and Derick Brassard, there’s not a whole lot else going on here. That much has proven to be true considering where the Jackets finished in the standings. The losses are staggering for the franchise but yet the answer to fixing it all up seems so simple. As if teams didn’t need more motivation to figure out the best ways to put a winner on the ice, they could look at the how things have gone financially for Columbus and realize that it makes all the difference.

While the NHL is going to worry about how to get things right with the Coyotes and Thrashers first, they’ll have to keep a stray eye on what the Blue Jackets are doing. Having a franchise, a new one especially, hemorrhage money like that is not good for the league and it’s push into new markets.  It certainly doesn’t help make the case for future expansion easier to make.

Predators first-rounder Tolvanen becomes youngest to score hat trick in KHL

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Talk about making a great first impression.

Nashville Predators prospect Eeli Tolvanen became the youngest KHL player to score a hat trick while adding an assist in his debut for Jokerit against Dinamo Minsk.

Tolvanen turned 18 in April. It’s ludicrously early, but with a night like this, people are already wondering if the forward was a steal; the Predators nabbed him with the 30th pick of the 2017 NHL Draft.

Here’s some footage of his performance:

If that Jokerit debut is any indication, he could have a special season, especially for an 18-year-old in the KHL.

A scouting report from Pension Plan Puppets touted Tolvanen’s shot as the best in the 2017 draft, and they believed he could be one of the big steals. And that was if he ended up landing in the teens, let alone No. 30.

BREAKING: Predators GM David Poile and his staff know what they’re doing.

Hextall deserves to see Flyers rebuild through

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This post is part of Flyers day at PHT…

If you look at GM Ron Hextall’s playing career, you might have expected the Philadelphia Flyers to continue their charming-yet-maddening run of impulsive, often-reckless moves. After all, Hextall echoed Billy Smith in goalie-stick-swinging rage.

Instead, Hextall’s almost writing the blueprint for how to rebuild a team in a tasteful way. Almost to the point where you wonder if his absence may partially explain the erosion of the Los Angeles Kings’ salary structure.

(Hextall was even rebuilding on the fly without the typical run of lottery ball luck, but that trend changed in Philly’s favor when they ended up with the second pick and Nolan Patrick.)

Let’s consider the great job Hextall is doing, even if there’s some fear that someone else might ultimately get the greatest credit if management grows impatient with this incremental approach.

Cleaning up

Hextall inherited an absolute mess in Philly, and he’s been making lemonade out of Bobby Clarke’s lemons.

Moving Vincent Lecavalier and Luke Schenn for Jordan Weal and a third-rounder felt like wizardry. The assets he managed for Kimmo Timonen, Brayden Schenn, and Braydon Coburn brought the Flyers a mix of picks, solid roster players, and financial breathing room.

Even mixed moves seem to point to better things in the future.

One imagines the Flyers getting a little more than they did when they took Valtteri Filppula off of Tampa Bay’s hands, especially since the Bolts didn’t retain salary in the process. You’d expect Jori Lehtera‘s time with Philly to be short, as the team seemingly took on his contract merely to get nice picks from the Blues for Schenn.

Prospects and picks

Hextall has assembled quite the war chest of prospects that mixes quantity with, ideally, quality choices.

Even heading into the 2018 NHL Draft, the Flyers currently hold an extra choice in the first, fifth, and seventh rounds. That’s promising, especially since they’ve already made a lot of picks.

Take a look at their draft history during the last three years.

2015: two first-rounders, zero second, two third-rounders, two fourths. Nine picks.
2016: Normal number of picks, except: three second-rounders and two sixth-rounders. Ten picks.
2017: two first-rounders, plus Isaac Ratcliffe, who was close to a first-rounder at 35th. Also two fourth-rounders. Nine picks.

And, again, they currently hold 10 choices in 2018. If the Flyers can aim those “darts” with even any accuracy, things look good for the future.

Still some problems

The troubling thing is that the Flyers don’t exactly look like a no-brainer playoff team in 2017-18. (Vote on that subject here.)

They’re standing as something of a fringe team even as they still spend quite a bit of money; they’re only about $5 million under the cap ceiling right now, according to Cap Friendly.

Still-troubling spending is part of the reason why Claude Giroux ($8.275 million per year) is under pressure. It’s not necessarily that Giroux and Jakub Voracek ($8.25M) are bad, but there are questions about one or both of them slipping, and with contracts that begin to look frighteningly long.

Combine those deals with Andrew MacDonald‘s $5M punchline of a cap hit and that’s about $21.5M on the books, just like that.

There’s a path to greater financial freedom, especially if they part ways with Filppula ($5M) and Lehtera ($4.7M). Hextall’s run of strong goalie moves continues with the cheap pairing of Brian Elliott and Michal Neuvirth after Steve Mason‘s surprisingly impressive run, and Philly isn’t locked into any Bryzgalovian deals in net.

So there are a lot of positives, even if it still feels like Hextall is hitting the “backspace” button on some salary cap death sentences.

Who gets to see the light at the end of the tunnel?

The Flyers boast a bounty of prospects, especially on defense; plenty of teams likely look at that farm system with some envy.

Will everything fall into line at the right time, though? Key forwards such as Giroux, Voracek, and Wayne Simmonds might see declines in the near future, to the point that Hextall must be willing to at least consider bold moves there, too.

Philly is getting close to the finish line as far as cap struggles go, which means that, sooner or later, they need to start making bigger gains toward being a stable contender. Hextall deserves to see it through, but we’ve seen more than a few examples of a GM laying the groundwork for someone else to put together the finishing touches.

Maple Leafs may look to Russia to improve defense (again)

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Sportsnet’s Chris Johnston reports that the Toronto Maple Leafs confirmed that Mike Babcock and Lou Lamoriello recently made a visit to Russia, but they didn’t admit why they went.

It turns out that they were scoping out KHL defenseman Igor Ozhiganov, who plays for CSKA, according to Johnston and others.

Ozhiganov, 24, did not go drafted. He does, however, have some interesting NHL connections. For one thing, he suited up for the same team that Nikita Zaitsev did, so that experiment has already worked out quite well for the Toronto Maple Leafs.

As you can see from the tweet above, Ozhiganov will play in the KHL through 2017-18. That’s impressive due diligence from the Leafs’ brass, although you wonder if such maneuverings might put the defenseman higher on the radars of other teams hoping to add depth to their bluelines in the future.

Raw Charge notes that Ozhiganov is a buddy of Tampa Bay Lightning star Nikita Kucherov, who definitely sings the defenseman’s praises. Even with Mikhail Sergachev in the mix, the Bolts are a group that will probably want to bolster their mix (especially in the uncomfortably likely event that Dan Girardi disappoints).

Either way, NHL fans will need to wait at least a season to see what Ozhiganov is capable of … and where he lands.

Devils give Jimmy Hayes a shot with PTO

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The New Jersey Devils have made dramatic moves to improve their forward group over the last few years, but even with Taylor Hall, Marcus Johansson, and Kyle Palmieri in the mix, there’s still plenty of room for improvement.

With that and the Devils’ recent struggles in mind, it only makes sense for GM Ray Shero to be open-minded to “reclamation projects.”

Perhaps that will be the case with towering forward Jimmy Hayes, then. The Devils announced that the winger has been invited to training camp on a PTO.

Look, there’s no doubt that Hayes has frequently struggled to make a difference at the NHL level. Not that long ago, he broke a 35-game pointless streak.

Still, it’s probably fair to give him an incomplete grade instead of a failing mark from 2016-17. After all, there are only so many players who can produce much offense when they’re receiving 9:14 TOI per game.

Hayes went from averaging 15:09 per contest in his best season (2014-15, when he scored 19 goals for Florida) to 13:50 TOI with Boston in 2015-16 and then that new low last season.

So, no doubt about it, Hayes’ stock couldn’t get much lower.

We’ve seen fringe guys become valuable assets after getting clean slates, including with bigger forwards. Zack Kassian resurrected his career following some significant struggles, just to name a recent example.

The Devils could use another NHL-caliber forward, particularly with valuable center Travis Zajac slated to miss a chunk of 2017-18. Maybe Hayes can be part of the solution.