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NHL Free agency: Most long-term contracts will end in trade or buyout

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Exactly six years ago Friday, the Toronto Maple Leafs made one of the most infamous free agent signings in the salary cap era when they inked David Clarkson to a seven-year, $36.75 million contract. It was a dubious signing from the very beginning due to Clarkson’s age (he was already 29 years old) and lack of consistent, top-line production in the NHL. Adding to the absurdity was the reception of the contract in Toronto (comparing him to Wendel Clark) and the way then-general manager Dave Nonis defended the signing from any and all criticism by saying, “I’m not worried about six or seven right now. I’m worried about one. And year one, I know we’re going to have a very good player. I believe that he’s got a lot of good years left in him.”

How did that work out?

In year one Clarkson scored five goals in 60 games, was a colossal bust, and was then traded to the Columbus Blue Jackets halfway through year two of the contract for Nathan Horton, another free agent bust from the same offseason whose career would be derailed and ultimately ended by injury. The Maple Leafs knew Horton would never play again and the whole trade was nothing more than a way to shed an albatross contract that looked to be a mistake from the start. It was an obvious — and ultimately legal — circumvention of the league’s salary cap.

Clarkson’s contract is far from the only one that has gotten general managers in trouble for signing a player for too many years in free agency. Almost every time the justification is similar to the one Nonis gave for the Clarkson signing: We’re not worried about four or five years, we just want to win right now.

Most of them never win “right now,” and almost all of them are looking for a way out within two years.

Between the summers of 2009 and 2016 there were 35 unrestricted free agents signed to contracts of five years or longer.

What sort of return did teams get on those investments?

Let’s start with this, showing the result of each signing.

[Related: PHT 2019 Free Agent Signing Tracker]

This only includes players that actually changed teams as UFA’s. It does not include re-signings of players still under contract with their current team (contract extensions), or the re-signing of restricted free agents.

• Fourteen of the 35 players were traded before the end of their contract term. That includes nine players that were traded before completing three full seasons with their new team. Most of these trades were salary dumps or an exchange of undesirable contracts.

• Ten of the contracts ended in a buyout, usually after three or four seasons.

• There are only three players signed during this time period that are still playing out their contracts with their current teams: Zach Parise and Ryan Suter in Minnesota, and Michael Frolik with the Calgary Flames. The latter has been mentioned in trade rumors for more than a year now.

• Only four players played out the entire term with the team that signed them: Paul Martin with the Pittsburgh Penguins, Anton Stralman with the Tampa Bay Lightning, Brian Gionta with the Montreal Canadiens, and Dan Hamhuis with the Vancouver Canucks.

• Three players had their careers ended by injury before the duration of the contract: Marian Hossa with the Chicago Blackhawks, Ryane Clowe with the New Jersey Devils, and Mattias Ohlund with the Tampa Bay Lightning.

• On average, those 35 players played out just 57 percent of their contract term with the team that signed them. Fourteen of them played out only half of the contract or less.

• If you want to go with the “I don’t care what happens in six years as long as we win the Stanley Cup with this player” argument, the only players in the above sampling that actually won a Stanley Cup with the team that signed them during their contract were Hossa in Chicago and Matt Niskanen and Brooks Orpik in Washington. The only others to even play in the Stanley Cup Final were Anton Stralman, Valtteri Filpulla, and Matt Carle in Tampa Bay, and Brad Richards with the New York Rangers (he was bought out the following summer after three years of a 10-year contract).

What did teams learn from this sampling?

Mostly nothing, because they have kept doing it.

Between the 2016 and 2018 offseasons there were 13 UFA contracts of five years or more signed, and the early returns are already looking disastrous.

In the summer of 2016 the following deals were signed.

  • David Backes to the Boston Bruins for five years at $6 million per year
  • Kyle Okposo to the Buffalo Sabres for seven years at $6 million per year
  • Frans Nielsen to the Detroit Red Wings for six years at $5.25 million per year
  • Milan Lucic to the Edmonton Oilers for seven years at $6 million per year
  • Loui Eriksson to the Vancouver Canucks for six years at $5.5 million per year
  • James Reimer to the Florida Panthers for five years at $3.4 million per year
  • Andrew Ladd to the New York Islanders for seven years at $5.5 million per year

Not sure there is anybody that would look at any of those contracts just three years later and argue that any of those teams are getting what they hoped to get. Reimer has already been traded so the Panthers could give another long-term deal to a different goalie (Sergei Bobrovsky) this offseason, while the rest of the contracts have all quickly become an albatross for every team that signed them.

There were six contracts signed over the 2017 and 2018 offseasons with Alexander Radulov, Karl Alzner, John Tavares, James van Riemsdyk, Jack Johnson, and John Moore all getting contracts of five years or more.

So far the Radulov and Tavares contracts look to be the best investments and have provided the most return.

Alzner spent time in the AHL this past season, while Johnson has been the subject of trade rumors after just one season in Pittsburgh.

This offseason seven teams have decided to bet against history and take their chances on long-term deals.

  • Vancouver signed Tyler Myers to a five-year contract
  • New York signed Artemi Panarin to a seven-year contract
  • Florida signed Bobrovsky to a seven-year contract
  • Pittsburgh signed Brandon Tanev to a six-year contract
  • Nashville signed Matt Duchene to a seven-year contract
  • New York Islanders re-signed Anders Lee to a seven-year contract

History suggests that probably at least five of these players will be playing for a different team within two or three years.

The players that have had the highest chances of playing out most of their contract are the high-end players (first-or second-line forwards; top-pairing defenders) that are still reasonably close to the prime of their careers, so that might be good news for the Rangers and Panarin and maybe — emphasis maybe — Duchene and the Predators.

All of the rest? These look like textbook deals that are destined to end in a salary dump trade or a buyout within a couple of years.

If a player makes it to unrestricted free agency you should know what you are bidding on and adjust your expectations accordingly. It is usually a player that has almost certainly already played their most productive hockey in the NHL, and it is usually a player that their former team didn’t feel was worth the money or term they were going to be able to get on the open market. It is rare that a team allows a player it actually wants to re-sign and values make it to free agency.

Elite players like Tavares and Panarin are the exception.

The end result is a bidding war for a declining player that probably isn’t as good as you think, which then ultimately leads to a team paying a player to NOT play for them (buyout), or trading them for another player another team doesn’t want, or giving up a more valuable asset to entice a team to take your bad contract in a trade.

NHL Free agency: Sometimes the best way to win is to not play.

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.

Boeser gets 3-year, $17.6 million bridge deal with Canucks

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Big news for the Vancouver Canucks on Monday night as they announced a three-year deal for restricted free agent forward Brock Boeser.

It is a short-term bridge deal for the talented winger and will pay him $5.875 million per season.

Salary cap space has quickly become an issue for the Canucks this summer after more big spending on veteran depth players, but they were still able to come to terms on a deal with one of their most important players.

“We’re very pleased to have Brock re-sign,” said general manager Jim Benning in a statement released by the team. “He’s a talented player, a key contributor to our offense and an important part of our team’s future. We look forward to having Brock join the team in preparation for the upcoming season.”

The 22-year-old Boeser has 59 goals and 116 total points in 140 career games.

He was a runner-up for the Calder Trophy during the 2017-18 season and followed that up with a tremendous sophomore performance this past season. The only negative so far is that he has had terrible injury luck, missing 33 games over his first two full years in the league. When healthy he is one of the team’s top players, one of the best young players in the league, and along with Elias Pettersson and Quinn Hughes will be a significant part of the team’s foundation for the foreseeable future.

MORE:
• 
ProHockeyTalk’s 2019 NHL free agency tracker
• Your 2019-20 NHL on NBC TV schedule

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.

New Seattle NHL arena remains on schedule for summer of 2021

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SEATTLE (AP) — The arena for Seattle’s NHL expansion franchise remains on track to open sometime in the summer of 2021.

Construction officials said Monday that the entire bowl of the former KeyArena has been demolished and excavation work is ongoing. Officials hope to begin digging down 15 feet from the current floor by year’s end and to spend most of 2020 constructing the new seating bowl from the bottom up.

Ken Johnsen, who is overseeing the construction project for Oak View Group and the NHL franchise, says the most challenge part so far has been putting in supports to take on the weight of the 44 million-pound roof, which is staying in place. The new arena is being built under the roof, which has historical landmark status.

Johnsen says the budget for the project remains around $930 million.

Previewing the 2019-20 Minnesota Wild

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(The 2019-20 NHL season is almost here so it’s time to look at all 31 teams. We’ll be breaking down strengths and weaknesses, looking at whether teams are better or worse this season and more!)

Better or worse: If we are comparing the Wild right now to where they were at the beginning of the 2018-19 season it would be difficult to argue that they are better following the in-season trades of Nino Niederreiter, Mikael Granlund, and Charlie Coyle. But if we are comparing them to where they were at the end of the 2018-19 season they might be a little better. Mats Zuccarello is another big-money player on the wrong side of 30, but he is still good. Mikko Koivu and Matthew Dumba are returning after missing significant portions of the 2018-19 season. There is also some potential with younger players to maybe take a step forward. The important question is whether or not those improvements are enough to get them back in the playoffs and help them return to contention in the Western Conference.

Strengths: The top half of their defense is really good with Ryan Suter, Jared Spurgeon, and Dumba leading the way. Suter is the biggest name and the one that gets most of the attention because he never seems to leave the ice, but don’t overlook the other two. Spurgeon just signed a seven-year contract extension to remain with the team and has been a criminally underrated player for most of his career. Dumba, meanwhile, brings a ton of offensive potential from the blue line and was in the middle of a breakout season until an injury sustained in a fight sidelined him for most of the season. Behind them they have an above average goalie in Devan Dubnyk serving as the last line of defense. When he is on his game, he can carry the team and has been one of the league’s most productive goalies since joining the team in them middle of the 2014-15 season.

Weaknesses: The Wild have a lot of really good veteran players and some young players that could become really good players. What they are lacking is great players. They don’t really have anyone that can be a difference-making, impact player that puts the team on their back for a game (or a stretch of games) and carries it. That kind of limits what your team’s ceiling is among the league’s hierarchy of contenders. The other concern is the age of the core. With Spurgeon now re-signed, they now have six players over the age of 30 signed for at least two more seasons. Several of those players are signed beyond the age of 35. How will all of those players hold up during those contracts?

[MORE: Under Pressure | Three Questions | X-Factor]

Coach Hot Seat Rating (1-10, 10 being red hot): Bruce Boudreau is entering his fourth season as the Wild’s head coach and is already going to be working with his third different general manager. That is kind of shocking, not only because the Wild have gone through that much change in their front office, but that the head coach has outlasted all of it. We will put his hot seat rating as a 6 out of 10. He does not have one foot out the door, but he is probably not totally secure, either.

Three Most Fascinating Players: Jason Zucker, Zach Parise, and Kevin Fiala are the three players worth keeping a close eye on this season.

One of the more bizarre aspects of Paul Fenton’s one year of error in Minnesota was his apparent burning desire to trade Zucker. He has not only been one of the team’s best two-way players and a popular member of the community, but Fenton was also trying to sell him at what was probably his lowest possible value. A similar move with Niederreiter went about as poorly as could have been expected, and repeating the same mistake with Zucker would have been crushing. As it stands now, Zucker is back in Minnesota and should be poised to have a bounce back year offensively.

Speaking of bounce back years, Parise went through one of his own during the 2018-19 season and saw pretty significant improvements in his production across the board. He is almost certainly never going to be a 40-goal, 90-point player again, but was his bounce back a one-year outlier in what has been a steady decline in recent years? Or can the Wild expect similar production this season?

Of all the players Fenton acquired during the 2018-19 season the one that seems most intriguing is Fiala. He is still only 23 years old, has already shown 20-goal ability in the NHL, and has some fairly promising underlying numbers to his game. He is a better player than what he showed immediately after the trade.

Playoffs or lottery: There is a short-term path back to the playoffs for this team, but a lot of things need to go right in order for that to happen. Realistic outcome is this looks like a team that finishes somewhere between 7th and 11th in the Western Conference. Not good enough to truly contend, but not bad enough to play its way into the highest draft lottery odds.

More
Do Wild have short-term path back to playoffs?
• ProHockeyTalk’s 2019 NHL free agency tracker
• Your 2019-20 NHL on NBC TV schedule

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.

Flyers re-sign Travis Konecny to 6-year, $33 million deal

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Another domino in the NHL’s restricted free agency saga has fallen.

The Philadelphia Flyers announced on Monday that they have re-signed forward Travis Konecny to a six-year contract that will pay him $5.5 million per year through the end of the 2023-24 season. Konecny was the last of the Flyers’ unsigned RFA’s, and his new deal means that general manager Chuck Fletcher’s offseason checklist is now complete.

“We are happy to have Travis under contract for the next six seasons,” said Fletcher in a statement released by the team. “Travis has shown progression in each of his three seasons and is an integral part of our group of young forwards. His speed, skill and tenacity sets him apart in today’s NHL.”

The 22-year-old Konecny is coming off a 24-goal, 49-point performance for the Flyers a year ago, a stat line that was almost identical to what he did the year before. He figures to be a significant part of the Flyers’ core in the coming seasons and is one of eight players the team has signed through at least 2022, joining Claude Giroux, Jakub Voracek, Sean Couturier, Kevin Hayes, James van Riemsdyk, Ivan Provorov, and Shayne Gostisbehere.

Even if he never becomes anything more than a 25-goal, 50-point player that is still a pretty strong contract for the Flyers, and there is still a chance he is capable of more.

With Konecny now signed the list of remaining unsigned RFA’s throughout the league is down to Patrik Laine, Kyle Connor, Mathew Tkachuk, Brock Boeser, Mikko Rantanen, Brayden Point, Brandon Carlo, Julius Honka, Anthony DeAngelo, and Saku Maenalanen.

MORE:
Provorov signs 6-year, $40.5 million deal with Flyers
• 
ProHockeyTalk’s 2019 NHL free agency tracker
• Your 2019-20 NHL on NBC TV schedule

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.