Tag: offer sheets


Here’s the compensation chart for RFA offer sheets


According to James Mirtle of The Globe and Mail, the NHL has released compensation rates for teams that sign restricted free agents via offer sheets.

Same rules apply as previous years — teams with players under contract get the opportunity to match, yadda yadda — so all that’s really changed is the compensatory pick total, which Mirtle describes as a “moving target” that increases yearly based on NHL average salary.

From The Globe:

Here are the draft pick compensation figures for the 2012-13 season:

$1,110,249 or below – No Compensation

Over $1,110,249 to $1,682,194 – 3rd round pick

Over $1,682,194 to $3,364,391 – 2nd round pick

Over $3,364,391 to $5,046,585 – 1st round pick, 3rd

Over $5,046,585 to $6,728,781 – 1st round pick, 2nd, 3rd

Over $6,728,781 To $8,410,976 – Two 1st Round Picks, 2nd, 3rd

Over $8,410,976 – Four 1st Round Picks

Historically speaking, RFA offer sheets have been more alluring in theory than practice. Many GMs consider them dirty pool and only six have been signed since the lockout: Ryan Kesler (Philadelphia), Thomas Vanek (Edmonton), Dustin Penner (Edmonton), David Backes (Vancouver), Steve Bernier (St. Louis) and Niklas Hjalmarsson (San Jose).

Penner was the only one to actually sign with the offer-sheeting team, a move that caused great acrimony between then-Anaheim GM Brian Burke and Edmonton GM Kevin Lowe.

Flyers will not extend offer sheet to Steven Stamkos

Steven Stamkos
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There have been rumors over the last week that the Philadelphia Flyers were going to extend an offer sheet to Tampa Bay Lightning restricted free agent Steven Stamkos on July 1. A day before free agency opens, the rampant rumors can finally be put to bed once and for all. After three days of intense discussions within the organization, the Flyers will not submit an offer sheet for Stamkos.

Not that there’s been any confusion on the matter over the last few days.

Flyers’ GM Paul Holmgren told CSN Philly’s Tim Panaccio that the organization strongly considered the Stamkos option, but they have chosen to go in a different direction:

“We’re not going to do anything on it. We explored it and decided it’s not the way for us to go at this time.

“We’re excited about the additions we made and the direction we’re going right now. We’ll explore things tomorrow [when free agency begins] but a restricted free agency offer sheet is not the way we will go.”

People can make the argument that the real story is that the Flyers were so strongly considering the offer sheet to begin with. Sure, the organization has a reputation for throwing away first round draft picks like they were confetti, but there would have been plenty more to signing Stamkos this summer. Obviously, the first cost for Philadelphia would have been their next four first round draft picks if they were acquire the 21-year-old Ontario native. But as Holmgren intimated in his comments, the Flyers would probably have to move two more players to clear out enough cap space for Stamkos. Considering they’ve already moved would-be franchise centers Mike Richards and Jeff Carter over the last week—and want to re-sign Ville Leino for next season—there would be a lot of moving parts for one player.

Not to mention the fact that Tampa Bay already announced they’d match any offer sheet.

Since the lockout, extending an offer sheet to a restricted free agent has been breaking an unwritten rule. Kevin Lowe was criticized when he went after Thomas Vanek and then-Ducks GM Brian Burke hammered him when he signed Dustin Penner to an offer sheet. Sharks GM made great use of offer sheets a year ago when he put the Chicago Blackhawks in a situation where they choose between Niklas Hjalmarsson and Antti Niemi. GMs have always been free to use offer sheets; but they understood that they used them at their own peril.

If any player were worth an offer sheet, Steven Stamkos is certainly in the running. The former #1 overall pick in 2008 was 2nd in the league last year with 45 goals and 5th in the league with 91 points. In 2009-10, he won the Maurice Richard Trophy by leading the league with 51 goals. No one in the league can match his 96 goals over the last two years—and he just barely hit the legal drinking age in February.

The Flyers can now turn their attention to other pressing matters. Since they are not going after Stamkos, there are already rumblings that they could make a play for Brad Richards when free agency opens at 12:00 ET on Friday. They still want to lock-up Ville Leino to an extension and need to come to terms with two new restricted free agents of their own in Wayne Simmonds and Jakub Voracek. No doubt there’s still plenty to do in Philly to keep GM Paul Holmgren busy.

For the Lightning, they’ll continue to negotiate with Stamkos and his agent until a deal is reached. According to Damian Cristodero at the St. Pete Times, the two sides have already met today and plan on meeting again tonight. Once the two sides agree on fair compensation for an NHL superstar coming off of his entry-level deal, GM Steve Yzerman will be able to turn his attention to the rest of his team that was only 1 goal away from the Stanley Cup Final.

Keeping Stamkos around is obviously the first step to getting back.

Why chasing Steven Stamkos could be an ‘exercise in futility’ for Flyers, rest of NHL


For at least the next two nights, the hockey rumor mill will crank out ridiculous ideas about who might target pending restricted free agent star Steven Stamkos. Some people will also find convoluted ways to argue that Stamkos dislikes being a member of the Tampa Bay Lightning; others simply will find ways to think up wacky offers that GM Steve Yzerman cannot stomach.

That being said, it seems like any rumor is semi-reasonable about at least one team: the Philadelphia Flyers. GM Paul Holmgren stunned the hockey world by trading two of their best players (and nicest salary cap bargains) in Mike Richards and Jeff Carter last week, leaving many to wonder if there are any boundaries to the team’s strange dealings.

With that in mind, it seems necessary to at least ponder the far-fetched (let’s repeat that: far-fetched) notion of the Flyers throwing an expensive offer sheet at Stamkos. CSNPhilly.com’s Tim Panaccio took the temperature of the team’s brass on that high-risk, high-reward subject in this story.

“A lot of indecision within a very decisive group, which isn’t like the Flyers,” said a source with knowledge of the talks.

The Flyers can’t decide among themselves whether it’s in their best interests to make an offer.

While the aggressive (and occasionally illogical) Flyers front office struggles with the pros and cons of making such a decision, they might want to ask themselves an important question: how much do they really want to waste their own time?

Look, if the last week or so taught us anything, it’s that desperate teams will do some crazy things if they think it will improve their chances. That being said, Yzerman must be aware of how damaging it would be to lose a star of the present and future like Steven Stamkos. If Stamkos isn’t a once-in-a-generation player, he’s at least likely to earn Hall of Fame consideration whenever he retires.

Maybe a team will mess up the Lightning’s collective balance by sending a maximum salary-type offer sheet Stamkos’ way, but Panaccio does a good job in capturing how unlikely it would be for any other squad to snatch Stamkos away.

“Whoever does this, Tampa has to match,” said the source. “It’s a bad position, but you have no choice. If you don’t sign this player in that market, you are guaranteeing yourself you have no upside with your fans. Yzerman knows that.”

So do the Flyers and the rest of the NHL.

“I cannot believe Philly is seriously considering an offer sheet,” said one prominent person familiar with the talks. “[Owner Jeff] Vinik is a billionaire. Tampa will match any amount. It’s an exercise in futility.”

That’s the key phrase: “exercise in futility.” Since the Lightning will probably match any offer sent Stamkos’ way, there’s really only one motive in sending an offer sheet: to hurt Tampa Bay’s depth. Perhaps a gargantuan Stamkos deal might cause the team to part ways with Vincent Lecavalier after they resisted moving him (and his bloated contract) for all this time. Maybe keeping Stamkos means parting with some combination of Sean Bergenheim, Teddy Purcell and/or Simon Gagne.

But let’s be clear about this: a 2011-12 Lightning team without Stamkos is almost unfathomable. Give the possibility a 1 percent chance. Then again, as the Flyers and Florida Panthers showed us during the last week, the implausible can become possible in the NHL.

(Don’t bet on it happening in this case, though.)

Predators chose to file for arbitration with Shea Weber, rivals unable to tender offer sheets

Nashville Predators v Vancouver Canucks - Game Five

Mere hours after it was announced that the Devils were taking Zach Parise to arbitration, the Nashville Predators has announced they are also filing for arbitration with their superstar defenseman Shea Weber. Unlike the situation in New Jersey, this decision seems much more procedural than anything else. The Predators management and Weber have both repeatedly stated their desire to get a deal done; the Preds want their captain for a long time and their captain wants to stay.  In fact, TSN’s Ryan Rishaug reported that the Predators and Weber’s agent Jarrett Bousquet were working on an extension late into Friday night.

Whether the two sides are a day away, a week away, or a month away, this move by Nashville is simply to protect their interests.  All sides agree that he deserves a raise from the $4.5 million per year deal he signed three years ago. Bob McKenzie broke the news on TSN this evening:

Sources say the Predators did so in order to protect themselves from another NHL team making an offer sheet on Weber. Offer sheets are prohibited on RFAs who are being taken to arbitration.

It is now up to Weber’s agent, Jarrett Bousquet, to elect whether the arbitration is a one-year or two-year term. That decision, though, is not required until 48 hours prior to the arbitration hearing, which can’t happen until after July 20.

In the meantime, Bousquet and the Predators will continue to work towards a long term contract that can be arrived at any time before the arbitration.
They’ve been negotiating for the last two days.

Since a deal hasn’t been reached, filing for arbitration means he is off limits to any opposing general managers who were thinking about extending an offer sheet. For those Maple Leafs and Red Wings fans who have dreamt about Weber manning their blueline, they may have to wait a few more years.

Unlike the Parise situation in New Jersey, there won’t be the same salary cap restrictions dictating the terms of this contract. However, the difference is the internal budget that will shape this contract. Predators GM David Poile will be forced to negotiate a fair contract with his captain, knowing that his decisions this season will force his hand with unrestricted free agents Ryan Suter and Pekka Rinne next season. Both of those deals have the potential to be much more difficult to complete simply because they’re both unrestricted—but the better Weber’s deal is for the team today, the better Poile’s chances for locking-up both Suter and Rinne in twelve months.

What would an arbiter say a Norris Trophy candidate is worth? In this case, neither side really wants to find out.

2011 restricted free agent compensation rates may increase offer sheets, but don’t dream about Shea Weber

Shea Weber
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Over the years, I’ve honestly been a bit stunned by the rarity of teams going after other clubs’ restricted free agents with offer sheets. Sure, it might cause a little awkwardness between general managers at country clubs and such, but isn’t aggressive improvement worth a little tension?

Of course, the other side of that coin is that signing a player to an offer sheet comes with two more tangible costs: 1) the actual salary and cap-related impact of the contract (as usual) and 2) the draft picks one must give up to compensate the opposing team. Craig Custance of The Sporting News revealed what teams will need to give up to complete offer sheets for the 2011-12 season.

2011 restricted free agent compensation

An offer with a $1,034,249 annual cap hit or less: No compensation

More than $1,034,249 — $1,567,043: Third-round pick

More than $1,567,043 — $3,134,088: Second-round pick

More than $3,134,088 — $4,701,131: First and third-round pick

More than $4,701,131 — $6,268,175: First, second and third-round pick

More than $6,268,175 — $7,835,219: Two first-round picks, a second and third

More than $7,835,219 and higher: Four first-round picks

If you want to compare and contrast the 2011 compensation rates to the rates for 2010 here they are. (H/T to My NHL Trade Rumors.)

2010 Compensation

$1,020,348 or below: No compensation.

$1,020,348 to $1,545,981: A third-round draft choice.

$1,545,981 to $3,091,963: A second round draft choice.

$3,091,963 to $4,637,944: A first-round choice and a third-rounder.

$4,637,944 to $6,183,925: A first- a second- and a third-rounder.

$6,183,925 to $7,729,907: Two First-round choices, a second-rounder and a third-rounder.

Over $7,729,907: Four first-rounders.

As you can see, the changes aren’t particularly dramatic, but this post might be especially relevant to three teams: the Nashville Predators, Los Angeles Kings and Tampa Bay Lightning. That’s because those franchises employ three outright stars who could become restricted free agents on July 1: Shea Weber, Drew Doughty and Steven Stamkos.

Each one of those teams are already allowed to sign those players, so it’s quite possible that none will be susceptible to offer sheets. Custance caught up with Barry Trotz to gather his thoughts on Weber, who might be the most likely to have a tough contract negotiation process. Beyond his bountiful size and skills, Weber might be a bigger headache to re-sign since he’s one year from being eligible for unrestricted free agency and the Predators could have a tighter budget than other NHL teams.

Trotz doesn’t seem too worried about those factors, though.

Predators coach Barry Trotz has some advice to Detroit or anyone else thinking about an offer sheet for Weber.

Don’t bother.

“We’ll just match it,” Trotz told Sporting News. “I can tell you, whatever they offer, it’ll just get matched.”

Even if the Predators will pay any price to keep Weber, an especially devious general manager could drive up Weber’s price a bit to limit Nashville’s options to put a better team around him. Honestly, if I were the GM for Nashville, Los Angeles or Tampa Bay, I would have done whatever possible to follow the Washington Capitals and Pittsburgh Penguins’ examples* by signing those three players the second it was legal.

Of course, there’s always the possibility that Weber, Doughty and Stamkos wanted a season to increase their value that much more (or maybe the teams wanted to make sure they knew what they were getting before handing them huge deals). Either way, the unrestricted free agent market looks pretty dry this summer, so teams might be a bit more likely to opt for offer sheets. Hopefully we’ll get some fun things to talk about in July, August and beyond.

* – The Capitals and Penguins re-signed key restricted free agents such as Nicklas Backstrom, Alex Ovechkin, Sidney Crosby and Evgeni Malkin almost the first day they were allowed.