How Bolts could fit Erik Karlsson under cap

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Over the last few hours, it’s been reported that the Tampa Bay Lightning were one of the favorites to land franchise defenseman Erik Karlsson from the Ottawa Senators. For that to happen, Bolts GM Steve Yzerman would have to get creative because he has to find a way to create cap space.

As of right now, the Lightning only have $3.446 million in cap space. Even if we forget about Karlsson’s extension, which would start next year, they still have to find some money to make it work. If anyone can pull this off, it’s Yzerman. He’s managed to pull rabbits out of his hat before (see this year’s trade deadline).

So, how can Yzerman make this work? There’s a few different ways. Let’s take a look.

• Find a taker for Ryan Callahan

Trading Callahan is going to be easier said than done. The 33-year-old is currently the second-highest paid forward on the team at $5.8 million per year for the next two seasons. Callahan put up five goals and 18 points in 67 games last season and he also has a long injury history. To make matters worse, he underwent shoulder surgery in late May. He’s expected to be sidelined for five months.

Still, there are teams that won’t be competitive that could take on the final two years of this contract if the Lightning make it worth their while. The Montreal Canadiens were willing to take on Steve Mason‘s contract from Winnipeg (they eventually bought him out). The Habs still have cap space. Could they be part of a deal?

The one thing the Lightning can’t do is retain salary. They’ll need money next year to pay Karlsson and Nikita Kucherov and they already have Matthew Carle’s dead money ($1.83 million) on the cap.

• Unload Dan Girardi and Brayden Coburn

These two veteran defenseman combine to make $6.7 million (Coburn earns $3.7 million, Girardi earns $3 million). It’s not like the Lightning don’t have youngsters that can step into that role right away, either. Both Slater Koekkoek and Jake Dotchin were regularly scratched at the end of last season because there was no room for them.

Yes, losing Girardi and Coburn would hurt you in the leadership department, but it’s a small sacrifice to make if they’re going to add Karlsson to their current group of defensemen.

Even if they’re forced to give up Mikhail Sergachev to the Senators, they’d still have a top four of Karlsson, Victor Hedman, Ryan McDonagh and Anton Stralman. That’s as good of a top four as there is in the NHL right now.

• Get Tyler Johnson, Ondrej Palat or Alex Killorn to waive their NTC

This all depends on what their going to give up to get Karlsson. If they have to unload a center like Brayden Point, then they’ll want to keep Johnson because he’s a natural center. If Yzerman finds a way to keep point, Johnson could become expendable.

Of course, if they wanted to trade Johnson, it would have been easier to do so before July 1st when his no-trade clause kicked in. But maybe they didn’t realize how motivated Ottawa was to trade Karlsson in the summer.

Johnson has six years remaining on his contract at a cap hit of $5 million per season, while Palat has four years left on his deal at $5.3 million. Again, either player would have to accept to be moved, which might complicate matters. Maybe either one of these players could be headed to Ottawa in the trade. They’re still both just 27 years old, so the Sens could have an interest in them.

Moving Killorn’s deal may be a little more difficult. He has five years left at $4.45 million.

• Make Senators retain salary

As if this would ever happen.

Karlsson is set to earn $6.5 million this year. Convincing the Sens to eat some of that contract would help the Lightning fit him under the cap this season, but again, it’s unlikely that the Senators will be interesting in going down that route for obvious reasons.

MORE: 

No prospect should hold up an Erik Karlsson deal

Five logical landing spots for Erik Karlsson

What would Erik Karlsson mean for Stars?

Joey Alfieri is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @joeyalfieri.

Sabres agree with Dylan Cozens on 7-year, $49.7M extension

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BUFFALO, N.Y. — The Buffalo Sabres agreed to terms with forward Dylan Cozens on a seven-year extension worth $49.7 million.

The team announced the contract. Cozens will count $7.1 million against the salary cap through the 2029-30 season.

Cozens, who turns 22, is the latest core player the Sabres have extended over the past six months. Buffalo signed All-Star forward Tage Thompson for $50 million over seven seasons in August and defenseman Mattias Samuelsson to a seven-year, $30 million deal in October.

Rasmus Dahlin, the top pick in 2020 who’s a Norris Trophy candidate and filled in for Thompson at NHL All-Star weekend, figures to be next for a big contract. He’s signed through next season and can begin talking about an extension this summer.

Cozens, who was set to be a restricted free agent, has already set career highs with 17 goals, 26 assists and 43 points – with 30 games left in the season. The seventh pick in 2019, Cozens has 34 goals and 60 assists in 169 regular-season NHL games, all with Buffalo.

The Sabres, led by Dahlin, Thompson, Cozens and 2021 No. 1 pick Owen Power, are contending to make the playoffs. The organization’s 11-year playoff drought dating to 2011 is by far the longest in the league.

Stanley Cup champion Avalanche steadily returning to health

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ENGLEWOOD, Colo. — Had his coach been watching, this might have made for an anxious moment: Colorado Avalanche defenseman Cale Makar catching an edge and falling in the fastest skater contest.

Jared Bednar wasn’t tuned in, though, and had no idea what happened in the skills contest over All-Star weekend. Only that Makar emerged from his crash into the boards just fine.

These days, things are definitely looking up for the Stanley Cup champions on the injury front. Defenseman Bowen Byram returns to the lineup, along with forward Valeri Nichushkin. Defenseman Josh Manson is creeping closer to a return. Same for captain Gabriel Landeskog, who’s yet to play this season. Forward Darren Helm is progressing, too.

In spite of all their bumps and bruises, the Avalanche entered the All-Star break in a playoff spot. To weather the injury storm, Colorado has relied on 39 different skaters this season, a mark that’s tied for the most in a single season since the team relocated to Denver in 1995.

“Anybody we can get back right now is huge,” said Makar, whose team kicks off a three-game trip Tuesday night in Pittsburgh.

Byram returns after being sidelined with a lower-body injury since early November. He was an integral part of their Stanley Cup run a season ago, when he led all rookies with nine assists in the postseason. Byram was off to a fast start this season – two goals and three assists in 10 games – before his injury.

“He’s looking great. He’s buzzing out there,” Makar said of his fellow blue liner. “Hopefully it doesn’t take him too long to get back into game mode. But I think he’s a guy that can turn it on pretty quickly.”

Byram missed a chunk of games last season as he dealt with concussion symptoms. This time, he was able to be around the team as he worked his way back.

“I was just happy it wasn’t my head,” Byram said. “It was a lot easier to be out when you’re still feeling good and feel like yourself. … I’m just excited to get going again.”

Count on Byram for as many minutes as necessary, too.

“I’m 100%, so no reason to ease into it,” Byram said. “I’m confident with jumping back in.”

Manson will join the Avalanche on the trip so he can skate with the squad. He’s been out with a lower-body injury since the start of December.

“I do think it helps to get on the road, be around the guys,” Bednar said.

Landeskog could be back “fairly soon,” Bednar said, but didn’t have a definitive timeline quite yet. The longtime Avalanche captain has been sidelined since knee surgery in October.

The Avalanche entered the All-Star break on quite a roll, winning seven of their last eight. They’ve amassed 57 points, which trails Dallas (66 points at the All-Star break), Winnipeg (65) and Minnesota (58) in the Central Division.

One thing the Avalanche are guarding against is another slow start out off the break. It happened over Christmas when the team had a few days off and promptly went 0-4-1 upon their return.

“It’s just shifting the mentality back to game mode. No more vacation,” Makar said. “We still have a long way to go. We’re not where we want to be right now. But there’s a lot of time left.”

Kraken add some size, acquire Jaycob Megna from San Jose

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SEATTLE — The Seattle Kraken acquired defenseman Jaycob Megna from the San Jose Sharks in exchange for a 2023 fourth-round draft pick.

Megna is in the midst of his best season with 12 points in 48 games for the Sharks while averaging more than 19 minutes per game.

“Jaycob has shown with his play this season that he is a responsible defenseman that can be relied on in all situations,” Seattle general manager Ron Francis said. “He provides welcome depth to our defensive group and we are happy to have him join our organization.”

The 6-foot-6, 220-pound Megna will add some size and bulk to Seattle’s lineup. Megna ranked fifth for San Jose in both blocked shots and hits.

Megna previously played for Anaheim for parts of three seasons between 2016-19. The 48 games played this season is a career-high for the 30-year-old.

Seattle is tied for the lead in the Pacific Division and will return from the All-Star break beginning against the New York Islanders.

Islanders sign Bo Horvat to 8-year deal after trading for him

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The New York Islanders signed center Bo Horvat to an eight-year contract less than a week after acquiring him in a trade with the Vancouver Canucks.

The team announced the contract after their first practice following the All-Star break. Horvat’s deal is worth $68 million and carries a $8.5 million salary cap hit through the 2030-31 season.

General manager Lou Lamoriello joked to reporters at practice on Long Island that Horvat’s contract was “too long and it’s too much money.”

The Islanders sent forward Anthony Beauvillier, prospect Aatu Raty and a protected first-round pick to the Canucks for Horvat . He was set to be an unrestricted free agent after the season, and the trade was a result of Vancouver and Horvat’s camp being unable to reach a deal last summer.

Lamoriello and Horvat expressed confidence about getting a deal done after the trade. The 27-year-old has scored more than 30 goals for a second consecutive season.

Horvat was chosen as an All-Star and played for the Pacific Division despite the trade. He played with longtime Canucks teammate Elias Pettersson and combined on one last goal together before parting ways.

“I want to get going,” Horvat said after the All-Star 3-on-3 tournament. “That’s enough. Let’s start playing some games and getting to know the guys. I just want to start playing hockey again.”

Horvat was on vacation with his family in Orlando when he was traded. He said coach Lane Lambert wanted him to enjoy All-Star festivities before getting rolling with the Islanders, who play at the Philadelphia Flyers.

“Obviously getting my legs under me is going to be No. 1 and getting systems down and obviously chemistry with the new linemates and stuff like that,” Horvat said.

After facing the Flyers and Seattle, Horvat will play against his former team when Vancouver visits UBS Arena.