Paying for intangibles usually backfires

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In an ideal world the thought of a “bad contract” in sports wouldn’t really exist (in my world, anyway). Professional sports are a multi-billion dollar a year industry and a player’s value should be what the market (in this case, a bunch of billionaire owners — or even one billionaire owner) feels that player should be worth.

The players are the ones putting in the work, making the effort, and drawing fans to the stadium or arena. They absolutely deserve a significant cut of the pie, and if they aren’t getting it, an even richer person ends up keeping it for themselves. So, pay the players.

That said, the world is not always perfect. Especially in sports.

When you are dealing with a sport that has a salary cap (and in the case of the NHL, a hard salary cap) you have to look at contracts a little more critically than just saying, “well, that is what they are worth that and that is the end of it.” A hard salary cap makes the business side of sports even more cutthroat and emotionless than it already is. Teams only have a set amount of money to spend, and paying the wrong player the wrong salary for the wrong reason can make it difficult to keep better players or build a winning team.

That brings us to one of the more eye-opening contracts signed this offseason when the Washington Capitals signed restricted free agent Tom Wilson to a six-year, $31 million contract extension over the weekend.

[Related: Tom Wilson cashes in with $31 million extension]

Reactions to that signing have been … mixed.

On one hand, that is a ton of money to invest in a player that has scored more than seven goals and 23 points in a single season once in five years, a fact that has made it a highly scrutinized deal from an analytical perspective.

On the other hand, there is this the intangible side of the argument that has come out of Washington, where the things Wilson does well don’t always show up on a stat sheet and that he was a part of a Stanley Cup winning team this past season.

Or that he might inflict a lot of pain on you…

Honestly, I would not want to go into the corner against any player in the NHL, but that fact alone does not mean it is smart to pay every player more than $5 million per season over the next six years in a hard-capped league, especially when my team already has several big-money players on the roster.

This is part of the “intangible” argument that gets thrown around in contracts like this. We have seen it and heard it a hundred times.

There used to be literal shouting matches over players like Dave Bolland when he played in Toronto, and then collective confusion (and even more yelling) when he signed for $27 million over five years in Florida. Eventually, his contract became one of the many to buried in Arizona when it did not work out.

When Edmonton spent big money on players like Milan Lucic and Kris Russell in recent years the defense of those contracts wasn’t about the offense they could provide or the tangible production they would give the Oilers, but more about intangible things like protecting Connor McDavid or being gritty and tough to play against. Just a couple of years into those contracts they already look like bad investments for an Oilers team that is pressed against the cap ceiling without any consistent success on the ice to show for it.

The thing about players like Bolland and Lucic is that at one point in their careers they were players that did provide tangible results. Their contracts backfiring had more to do with paying too much for players at the wrong point in their careers and for the wrong reasons.

All of this brings us back to Wilson’s contract. I get the argument that he is still reasonably young, and that maybe the Capitals are finally figuring out how to use him by giving him a real role with good players instead of burying him on the fourth line and sending him out to rattle cages for 10 minutes a night. As I wrote on Friday when Wilson signed his contract, maybe his game continues to evolve and he produces more. Fact is, though, there really isn’t a player in the NHL right now that has signed a contract like this with the sort of production he has put on paper.

That makes it a contract worth evaluating a little more critically, especially when much of the argument for it is based on things we can not easily see.

Taking a deeper dive into this, I went back over the past 10 years and looked at forwards that signed larger, big-money contracts that did not necessarily match their level of production. Specifically, I looked at players that had played at least 300 games in the NHL and averaged less than 0.45 points per game (less than a 35-point pace over 82 games) at the time of their contract signing.

It is a group that includes Wilson’s new deal.

Here are the biggest contracts in that group (at least four years in length, worth at least $3.5 million per season), ranked by largest salary cap hit.

Look at that list, and then ask yourself this question: How many of them would you say have worked out favorably for the team that signed them?

  • Clarkson, Bickell, and Beleskey have already traded or dumped by the teams that originally signed them.
  • Sutter and Abdelkader have no-trade clauses as part of their deals. Given Detroit’s salary cap situation Abdelkader’s deal looks especially problematic. He is 31 years old, still has five years remaining, and over the past two years has scored a grand total of 20 goals in 140 games.
  • Shaw and Clutterbuck have no such clauses in their deals, and would it really be a surprise to see one (or both) be traded before their deals expire? Especially Clutterbuck as the Islanders have assembled a collection of fourth-line players just like him (on equally bizarre long-term contracts).
  • Upshall is the only player on that list that, as of now, played out the entire contract with the team that signed him.

Aside from the group shown above, there were another 22 players with similar stat lines that signed contracts of at least four years in length (Paul Gaustad shows up twice on this list because he actually signed two such contracts, one in Buffalo and one in Nashville).

How did that group turn out?

  • Two of those contracts (the Jay Beagle/Antoine Roussel duo in Vancouver) are starting this season.
  • Four players (Zack Smith, Casey Cizikas, Derek Dorsett, and Dale Weise) are still with the team that signed them … for now.
  • Five players played out the entire contract with the team that signed them.
  • Ten players either had their contracts bought out or traded before the end of them. In many cases within the first two years of signing the contract.

The point here isn’t to downplay defensive play, or penalty killing, or any number of intangible things that go into a player or a team, because there is value to them. But the thing that stands out about a lot of these players that were given contracts based largely on those things we can’t see is that in many cases those teams quickly realized they maybe weren’t worth the big dollar numbers and either traded them or moved them out, either to dump salary or give that salary to players that, quite simply, produced more.

Perhaps the simplest way to put all of this: Pay big money for what you can see. Not what you can not.

Adam Gretz is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @AGretz.

Stars expect to open camp without unsigned scorer Jason Robertson

Sergei Belski-USA TODAY Sports
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FRISCO, Texas — Young 40-goal scorer Jason Robertson is expected to miss the start of training camp for the Dallas Stars because the team and the restricted free agent haven’t agreed on a new contract.

General manager Jim Nill said there’s been steady, ongoing negotiations over the last couple of weeks with Robertson and his representatives. Nill wouldn’t say what has kept the two sides from reaching a deal, adding there have been “very good discussions.”

The Stars, with new coach Pete DeBoer, open camp Thursday in Cedar Park, Texas, at the home of their AHL team. They have three days of work there before returning to North Texas for their exhibition opener at home on Monday night. They open the regular season Oct. 13 at Nashville.

“I think he’s disappointed he’s not at camp, we are too,” Nill said before the team departed for the Austin area. “I think it’s very important for a younger player and as you mentioned, the (new) coaching staff. … We do have some time on our side, but we wish he gets here as soon as he can.”

Robertson had a base salary of $750,000 last season, the end of a $2.775 million, three-year contract. He still has five more years before he has the opportunity to become an unrestricted free agent.

The left wing turned 23 soon after the end of last season, when he had 41 goals and 38 assists for 79 points in his 74 games. Robertson joined Hockey Hall of Famer Mike Modano, Jamie Benn and Tyler Seguin as the only 40-goal scorers since the franchise moved to Dallas in 1993.

A second-round draft pick by the Stars in 2017, Robertson has 125 points (58 goals, 67 assists) in his 128 NHL games. He had one goal and three assists in his first postseason action last season, when Dallas lost its first-round playoff series in seven games against Calgary.

DeBoer said he looks forward to coaching Robertson, but that the forward’s absence won’t change his plans for camp.

“It doesn’t impact what I’m doing,” DeBoer said. “Listen, I laid awake at night with the excitement of coaching Jason Robertson, 40-plus goals, but he’s not here. So, you know, until he gets here, I can’t spend any energy on that.”

Nill said the Stars are open to a long-term extension or a bridge contract for Robertson, who was part of the team’s top line last season with veteran Joe Pavelski and Roope Hintz. They combined for 232 points, the second-most in franchise history for a trio.

“We’re open to anything. But other than that … I’m not going to negotiate through the media,” Nill said. “As I said, we’ve had good conversations. We’ll see where it goes.”

Training camps open around NHL after another short offseason

Ron Chenoy-USA TODAY Sports
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Training camps open around the NHL after another short offseason, a third in a row squeezed by the pandemic. That doesn’t bother Colorado Avalanche star Nathan MacKinnon one bit.

For one of hockey’s best players and his teammates, it’s already time to get back on the ice and defend their Stanley Cup title, less than three months since they knocked off the back-to-back champion Tampa Bay Lightning.

“I still feel like I just was playing,” MacKinnon said. “I took two weeks off, and then I started skating again. It’s just fun. I enjoy it, and I like the short summer. It feels like the season’s just kind of rolling over again.”

The NHL rolls into fall coming off an entertaining playoffs and final with the chance to finally get back on a normal schedule. That means full camps for teams that got new coaches and the benefits of a regular routine.

That means a mere 88 days between Game 6 of the final and the first-on ice practice sessions.

“We’re kind of used to it now,” Tampa Bay goaltender Andrei Vasilevskiy said after he and the Lightning lost in the final for the first time in three consecutive trips. “It’s a little harder, of course, because you don’t have that much time to rest. It’s basically a few weeks and you have to get back at it. But, yeah, I can’t complain. You want your summers to be short every year.”

It was a little longer for Connor McDavid and the Oilers after losing to Colorado in the West final. Despite the lack of downtime, McDavid “wouldn’t trade that in for anything” and aims to make it even further since Edmonton shored up its goaltending situation by adding Jack Campbell.

A few spins of the goalie carousel ended with the Avalanche acquiring Alexandar Georgiev from the New York Rangers and Cup winner Darcy Kuemper landing with Washington. Joining new teammates, many of whom hoisted the Cup in 2018, Kuemper is not worried about less time off.

“It was definitely a very unique summer,” Kuemper said. “With how short it was, you start getting back into the gym and you’re kind of a little bit worried that your training’s going to be so short. But you kind of felt like you weren’t getting back into shape. You were already there.”

NEW COACHES

The Oilers are one of several teams settling in for training camp under a new coach. Jay Woodcroft took over as interim coach in February but has the full-time job now.

“Looking forward to a camp with him,” McDavid said. “He did a great job coming in during the middle of the season, but it’s never easy on a coach, for sure. I’m sure there’s things that he wanted to touch on that you wasn’t able to kind of in the middle of the year, so he’ll be able to to touch on all of it this year.”

The same goes for Bruce Boudreau in Vancouver, 11 months since being put in charge of the Canucks. Philadelphia’s John Tortorella, Boston’s Jim Montgomery, Vegas’ Bruce Cassidy, Dallas’ Peter DeBoer, Florida’s Paul Maurice, Chicago’s Luke Richardson, Detroit’s Derek Lalonde and the New York Islanders’ Lane Lambert are all starting the job fresh.

CAMP TRYOUTS

Roughly 40 players are attending a camp on a professional tryout agreement with the chance to earn a contract for the season. James Neal has that opportunity with the Blue Jackets, and Derek Stepan returned to Carolina to seek a job with the Hurricanes.

The most intriguing situation involves 37-year-old center Eric Staal, who agreed to the tryout with Florida the same time brother Marc signed a one-year contract. Younger brother Jordan was with Eric and Marc on the 18th green at Pebble Beach to witness the occasion.

“They’re both just super pumped, as was I,” said Jordan Staal, who is the captain of the Hurricanes. “Eric is excited about the opportunity and Marc, as well. Really cool. Really cool thing.”

EARLY START

Before the puck drops on the NHL season in North America on Oct. 11, the Nashville Predators and San Jose Sharks play twice in Prague on Oct. 7 and 8. And those are not exhibitions.

“We still play two important games,” said Sharks forward Tomas Hertl, who is a native of Prague. “It’s not just preseason where you coming here to warm up.”

Colorado and Columbus will also play two games in Tampere, Finland, on Nov. 4-5 as part of the NHL’s Global Series.

And just as the league gets used to a regular schedule, work is ongoing between the league and NHL Players’ Association to stage a World Cup of Hockey in February 2024, which is popular among players even if it knocks the calendar off kilter again.

“I think they missed out on a huge, huge portion of the international game that’s really going to be missed,” McDavid said. “We need to figure out a way to get an international tournament in as quickly as possible.”

Matthew Tkachuk, Panthers ready for 1st training camp together

Candice Ward-USA TODAY Sports
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CORAL SPRINGS, Fla. — Aleksander Barkov was sound asleep at his home in Finland when the trade that brought Matthew Tkachuk to the Florida Panthers was finalized, which isn’t surprising considering it was around 4 a.m. in that part of the world.

He woke up and read texts from friends reacting to the deal.

And it wasn’t too long before he got a message from Tkachuk.

“The first message was `(expletive) right’ and how he was excited to come to Florida,” Barkov, the Panthers’ captain, said at Florida’s media day. “`Let’s take this next step, let’s be a winning team for many years to come.’ That’s who he is. He wants to win. He wants to bring that character to this organization. And I think he’s done some damage already.”

With that, Barkov was sold.

And after a few weeks of informally skating with one another, the Panthers start the process of officially seeing what they have in Tkachuk when the team’s training camp – the first under new coach Paul Maurice – opens.

“We’ve basically had everybody here for a few weeks,” Tkachuk said. “I feel like I’ve been in training camp for a couple of weeks. So today doesn’t feel that new to me. I’ve gotten to know everybody … so let’s get these games going. I’m sick and tired of just practicing and working. I want to start playing some games. I think everybody feels the same way.”

Maurice was hired over the summer as well, inheriting a team that won the Presidents’ Trophy last season and went to the second round of the playoffs — the first series win for Florida since the run to the Stanley Cup Final in 1996.

He’s as eager as the players are for the first formal practice, calling it “our first Christmas.”

“The house is bought. Most of the boxes are unpacked,” Maurice said. “I’ve got two kids that kind of came with me; one’s in Coral Gables, one’s in Estero. Their places are unpacked. They’re out of our house. Once you get down here, for me, you spend most of your days at the rink. So, experiencing all of South Florida, we haven’t gotten to that yet.”

As part of the deal that went down on July 22, the 24-year-old Tkachuk signed a eight-year, $76 million contract. That’s not the only big cost that the Panthers had to agree to while executing the trade; they also sent Jonathan Huberdeau, the franchise’s all-time scoring leader, and defenseman MacKenzie Weegar to the Calgary Flames in exchange for a left wing who had career bests of 42 goals, 62 assists and 104 points last season.

“I wish all the best to Huby and Weegs,” Barkov said. “They’re great. Everyone loved them. Only good things to say about them. It happens, and for sure, it was best for the team and organization to do this. We move on, and we’ll get ready for a new season.”

BOBROVSKY’S SUMMER

Panthers goaltender Sergei Bobrovsky is Russian, still makes his home in St. Petersburg, and went there for the bulk of his offseason.

He said it was not logistically difficult to travel there (or return to the U.S.) this summer, even as the war that started when Russia invaded Ukraine continues. Bobrovsky said last season that he was not trying to focus on anything but hockey, and when asked if it was difficult to be back in Russia as war continues he kept the same approach.

“I had a good summer,” Bobrovsky said. “I saw friends, I saw family. It’s all been fine. I don’t want to talk about what’s going on. I’m not involved in that stuff.”

CAMP ROSTER

Florida is opening camp with 56 players – 31 forwards, 19 defensemen and six goalies. That group includes brothers Eric Staal and Marc Staal; Marc Staal signed as a free agent in July; Eric Staal is with Florida on a tryout contract.

Coyotes sign Barrett Hayton right before training camp

Joe Camporeale-USA TODAY Sports
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SCOTTSDALE, Ariz. — The Arizona Coyotes signed forward Barrett Hayton to a two-year contract right before the start of training camp.

Terms of the deal were not released.

The 22-year-old Hayton was a restricted free agent and not initially listed on Arizona’s roster for camp.

Hayton had 10 goals and 14 assists in 60 games with the Coyotes last season, all career highs.

Arizona drafted the Peterborough, Ontario native with the fifth overall pick of the 2018 NHL draft. He has 13 goals and 18 assists in 94 career games with the Coyotes.